29

C—2

Statement regarding Mining Companies who have borrowed Money for Development of Mining under Part X of the Mining Act.

* Company in arrears for interest £348 9s. Id. and for rent. This company has experienced considerable ill luck I D° mpa J n ?, ? emg m , arrears £225 for interest were fortunate in having same capitalized; prospects indifferent t Keiunded loan, although property has not paid a dividend hitherto. § Plant and works being laid down, but cost considerably exceeds company's original estimate; prospects fair || Company are prospecting deep levels thoroughly with the money; results hitherto not encouraging, but the exploration is necessary from a national point of view. The loan in this case has not been included in the last column. (3.) Subsidized Roads on Goldfields , following schedule shows the amounts expended by subsidies and direct grants out of the Public Works Fund—vote, " Roads on Goldfields "—in the different counties, &c, durine the year ended 31st March, 1914 :— 6

In addition to the foregoing, the goldfields' local bodies were credited with goldfields revenue amounting to £17,139 7s. 7d., and gold duty amounting to £22,039 lis. sd. The total amount of State aid thus given to local bodies on behalf of the mining industry during the past financial year was therefore £63,322. (4.) Government Prospecting-drills. There still continues to be a demand for the Government Keystone and diamond drills for prospecting purposes, although not so pressing as during previous years. During the past year 112 holes, aggregating in depth 2,949 ft., were drilled by means of two Keystone drills in Westland and Otago in search for alluvial gold; and seven holes aggregating in depth 3,144 ft., were drilled on the west coast of the South Island in search of coal The use of these drills, which are lent free of charge, is strongly recommended to those who propose to finance mining operations, for by such means may the actual value of mineral deposits be most economically proved, and mining rendered less speculative. It may be safely stated that in scores of cases here in New Zealand many thousands of pounds would have been saved by preliminary boring at comparatively insignificant cost. To embark in a mining enterprise upon the unverified word of an interested person or optimistic expert is to court disaster The Govern ment, by providing these modern and cheaply run drills, have done much to protect the overenthusiastic speculator.

Initial to represent Name of Company. Amount of Loan granted. Amount of Loan paid, 20/5/14. Amount of Loan refunded to Government. Subscribed Capital. Amount of Capital actually Paid up. Value of Scrip given to Shareholders on on which no Cash paid. Total Expenditure since Registration. Total Amount of Dividends paid. Amount of Debts owing by Company. A B ;c D E £ 10,000 5,225 500 10,000 7,000 £ 10,000 5,225 500 6,491 3,385 £ 3,000 500 £ 14,400 172,289 6,000 30,000 70,000 £ 14,400 7,539 5,353 16,798 24,379 £ 5,550 164,750 5,000 10,000 43,750 £ 60,964 14,232 6,342 17,132 15,341 £ £ 15,850* 6,532f 675$ 7,250§ 208||

Subsidies. Direct Grant*. Thames County Thames Borough Coromandel County Ohinemuri County Pelorus Road Board CoUingwood County Takaka County Waimea County BuUer County Murchison County.. Inangahua County Grey County Westland County Ross Borough Brunner Borough Tuapeka County Vincent County Lake County Southland County Wallace County Public Works Department .. . >* £ s. d. 415 5 0 130 io 0 71 2 6 458 16 2 £ e. d. 2,810 17 0 50 0 0 1,622 4 10 1,756 6 0 205 17 0 376 8 3 81 15 6 90 0 0 4,284 13 8 90 11 11 2,702 6 11 2,529 1 5 1,316 12 8 100 0 0 100 0 0 160 0 0 512 13 0 50 0 0 387 14 0 350 0 0 574 15 1 2,915 11 1 ** £1,748 6 8 £22,394 15 4