MINING ON KAURI FREEHOLDS
Those Extraordinary Conditions
A grain
It has been urged upon us that the Observer was unfair in its conclusions concerning the conditions for mining upon the Kauri Freeholds Gold Estates property. Possibly it was. But we confess we canuot see where the unfairness comes in. These conditions have been put forward as very liberal ; they have been contrasted in this respect with the conditions for mining on Crown lands, and it is more than possible that men possessing neither the intelligence nor the penetration to comprehend them may be betrayed into putting down their money and binding themselves to submit to regulations that they would not look at if they fully understood how they were going to work out. And it is in order that those who do not uuderstand the conditions may know what they are doing when they subscribe to them that we have voiced our opinions plainly.
payable find But supposing the company doesn't float the property, how then? The prospector would be no bettor off than before. Or, a syndicate may profit out. of the twenty per cent it would get in the event of a flotation by the company. But, then, the company is not bound to float the property, or might be incapable of doing so. Then the syndicate is thrown on its own resources, and, as we pointed out last week, would benefit little, if anything, after it had given a slice to the Kanri Freeholds Estates Company, another to the company promoter in London, and another to furnish the working capital.
The terms may be liberal enough to the Home syndicate that is willing to send out its own prospectors and is able to float ite* own company in London. There is room for profit for it, as well as for the Kauri Freehold Gold Estates Company. But there is none under these regulations for the local syndicate. The conditions are framed to discourage local syndicates from prospecting on this property, without at the same time giving the appearance that
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Bibliographic details
Observer, Volume XVI, Issue 920, 22 August 1896, Page 7
Word Count
342MINING ON KAURI FREEHOLDS Observer, Volume XVI, Issue 920, 22 August 1896, Page 7
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