C—2

SUBSIDY ON COAL-PRODUCTION Payments administered by the Mines Department for the financial year ended 31st March, 1949, from" the Stabilization Account were : £ s. d. District tonnage subsidies .. .. .. 842,218 18 11 Subsidy on Saturday work .. .. .. 38,812 6 9 Subsidy on work on statutory holidays .. .. 29,429 19 10 Subsidy on shift bonuses .. .. • .. 6,747 18 7 Subsidy on increased cost of tools .. .. 14,220 13 6 Special subsidies on uneconomic mines operated by the State 315,090 19 9 Guaranteed profits (Waikato mines) .. .. 287,490 7 0 Administration costs (Waikato mines) .. . . 958 19 10 Miscellaneous .. .. .. .'. 310,120 7 11 Total .. .. •• ■• £1,845,090 12 1 Of this amount, £996,266 was in respect of State coal-mines and £848,825 in respect of privately-owned mines. The figures given are the actual payments by Treasury during the financial year. During the period, the State coal-mines earned subsidies to the amount of £1,203,966, as shown in the accounts (C-2a). The difference between this, figure and the sum of £996,266 represents subsidies not verified and paid until after theend of the financial year. The total amount paid by way of general subsidies from the inception of thescheme in May, 1940, to 31st March," 1949, is £7,249,611. The total amount expended under the Waikato Coal-mines Control Emergency Regulations 1942 to 31st March, 1949, is £878,307, giving a grand total to date for all forms of subsidy of £8,127,918. In December, 1939, the approximate average price (f.0.r.) of run-of-mine coal was. £1 per ton, and at this level the price was stabilized until Ist October, 1947, when the average price was advanced by approximately Is. 6d. per ton. However, during the year ended. 31st March, 1949, subsidy payments on coal due for this period, together with the amount due under the guaranteed net-profits clause of the Waikato Coal-mines. Control Emergency Regulations for the same period, would average approximately 13s. 3d. per ton of coal produced. Accordingly it must be assumed that were it not for payments in respect of subsidy and guaranteed net profits the average price f.o.r. of run-of-mine coal would have advanced by 13s. 3d. per ton to 345. 9d. per ton. During the same period the statistical statements of the Ministry of Fuel and Power and the National Coal Board of Great Britain show that the average proceeds per ton of coal disposable commercially has increased from 17s. 6d. in December, 1939,. to 475. 84d. for the quarter ended 31st December, 1948. ' CO-OPERATIVE MINING, STATE COAL RESERVE, GREYMOUTH During the year 1948, eighteen co-operative coal-mining parties were operating on areas within the State Coal Reserve, Greymouth. The production for the year was 97,111 tons and the number of men employed was 133. In 1947, sixteen parties. employing 130 men produced 84,925 tons. Co-operative parties have produced to date 2,259,253 tons of coal and have paid royalties to the Crown amounting in the aggregate to £109,192.

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