THE GREY RIVER COAL COMPANY.

Star (Christchurch), Issue 13, 28 May 1868, Page 3

THE GREY RIVER COAL COMPANY.

{From the Grey liimr Arijm, Ma;) t\,} Mr Olllvler, tho honorary noorotary* ft»<l ono of tho |)romotorß of tho Grey Rivor Cflftl Mino Company, arrived In town <m Twfldfty, for tho pHrposo of <»r«MiWnff <J'« jfronmlnnry j nrrftngcmoritfl rattwUntt " 10 «!»-'">»» , of t)w \ Comprtny'fl mine, anil Tor Boonrlnff tho ooqparation pfporflona locally iniorcatcd, . Wo nro glvon to unrlorntftntl, on tlin iMJtlu>fl''y of Mr'bliWor, thnt tho <7<iM|'ft«y '«r« dmrmined to pwrth rttt Ui« wu\g laUln^ nmJ win permit m uiwW-wnry i)n)ay Jn commencing onerAiinnn on a oomplnto boiilo, Mr'Olllvlor has 'nutbnrliorf Mr (Jnlw,o X , lft«;!y mi^<i<\ by tho Nolfibn Coal Cnmpuny, «> t<wt Uifl inl«<?, which l» at mi' oto 1)« douo. A drlvo, which may aftor'wnrdfl wecvo nil a watttr-lov'ti), lifts been commoncod from tlio fatio of tho flonm opponlto tlio rivor, wlilch will ho (iiirrlcd upwards anil tr«vornc<l by vr<m drlvcH, It U expected that In about, two mouth* tlio o'porationfl conducted under Mr Unlior'u «u(iorintfimtanea will lmva dlaolaHcd tho ohuruotor and direction at tlio mutn-~ot Its rxtont tliuro can ho no donht whniovor, i»b th« <'.o>vl oropfl 1 out in plnof>» ftlonjj tho fftii(?on t<\v mHt-fl. Tho biUo of the <iflftl will ho ontlroly under tho control of Mr Kllgnur, who, liuvlmk. we un<]orfliAUd, liceomo n Hliaruhnidar Jn ilio Company, will roproiiont tho promotorn horo until o local directory in formc(l# Tho promoters r(Vgard tho efllablinhinont of a l<tcul dlreotory, or board o£ timtiA^ittiC'tii, «fl an ounontlal condition, 'Hid in onhir to fluouro iho GO>o|)oration of tho public lioro, a numhor of nhnren will l)i; not'' apart ospculiilly for tho dlalrloti Tho Corapany'n capital Ih fixed ■nominally at 4ftQ,flOO, In Blmron of M cuoli, hut they have power to liiufAiiflO It. Wo may say on autliority iliat whon tho capital of X!H),000 lian heon fliihxcrlhed, a lending (innnolnl coticorn linn ngroerl toadvancoa furthor uutn of On Mr Olllvlor'fl return to Clirl-t---ohnroh, tho fllmrc-llflifl will lio oponcd, and ngontti np|iolutod to (Hhjiohu of thorn In VVofltland. A oomploio nurroy of thu rou'.o for tho rallw/iy— which will ho m>von mJlou lonn — In to bo mado forthwith, and on i(» complotion tumlcm for tho work will lio called for and tho lino piwhed forward without delay, Tho torm« of thu Com|iany's lOAHO compel them to comploto tho railway and bring down 10,ti00 tonn of coal lutforc Juno, 18119, m> that It in obvloimly nocci^ary that muoh tlruo flhould not ho wanted to constructing tho lino, Jiit to in the day ao It In, tho Grey Klvor Coal ('onipany do at hint appear determined to develop the immeiifu,' field of mineral we'itlth that h \n hcon conceded to thorn. And it/ inunt hu rogtirded nn n oatlnfactory tolton of Iho honoHty of tlio luusntlonH of the nrouioioru i lint ll.oy wioh to nlaeo tho genoral managoment of tho mlno and rnllwuy in tho hamid of a locul ooinpuny. In tiuoking tho cO'Oporatlon of tint public of Wcfltlanu, tho promote™ do not, wo itro Informed, dcitiru it to hu thought Unit ru< h 00-opcration Ih GfiAontlal tv tlut raining thu required capital The wholo of ilio aliarcfl could bo rcudiiy di»r ponod of by tho promotorn, hut tlioy think— and rightly bo, wo Imnffino — thai greater dn\>lum>y ami moro , <*fl!**otlv« ; control in tho tuiuia^adumt utm ho eaaarcd hy a local directory. Of courno It In understood that nil i/iipornmt matloro affoct ing tho intcrentn of tho nhimilioMcrtt will !•<■ dealt with by tho Gvittral Board, An wo underhand tho [)PO|i(ifled arm ng mont, it is preoifloly similar to Hint whiuli obtuinn with regard to banking and other inniitu ionn in tho Colonies wlioho lumd-qnnrtorH arc in London., Wuhavo no doubt thav tho company will find a rcaflonahli! amount of support in Wcflthind, '1 ho Inlm Itantfl of Groymouth, and OBpuciiiily thonu who have Invonti'd capital here, will doiibtloHfl fieo that their iutorontu &TO clobdy Ijoumi up with orvry thing <lmt will <l«v<:lop (he r<:H<mr<!<!« (if tlio <]lAlelal t and glyaa .luirni/iiu'iit vnhiu to projierty. That tho working or tho gouMolilh on a HGalo eom< monnnrato with their Importnnoo will impart a otftbllity to thin dlntrhit, which nothing clno trill «lv« H, fow will Iki lioJ<J <3»<K^l( kt <knyi M&mwq h<ivi) renmw to )w)U>vu Oml tin, comjfimy in whom tho nonlfli'lil heWmpn nro thoroughly in o»rni ni, w« hnpn tboy will bo licftitily »uppbrtc<l l>y tlrti j)ul){{o,