PUKEMIRO COLLIERIES.

Auckland Star, Volume LIX, Issue 231, 29 September 1928, Page 4

PUKEMIRO COLLIERIES.

ANNUAL MEETING.

CHAIRMAN'S STATEMENT.

Press representatives were not admitted to the annual meeting of Pukemiro Collieries, Ltd., held yesterday, but subsequently a report was supplied for publication.

The Chairman of Directors, Mr. J. Catchpole, in moving the adoption of the annual report and balance-sheet, said: "During the year many difficult problems and intricate matters have arisen in connection with the industry. "In July last several conferences were held between the directors of the Northern coalmining companies and representatives of the various miners' unions concerned, for the purpose of entering into a new industrial agreement to replace that which had just expired. I am pleased to state that a satisfactory agreement was eventually arrived at, and is now being forwarded to all parties concerned for signature."

After reviewing the position relative to the treatment of low-grade coal, Mr. Catchpole said a considerable amount of capital would be needed to purchase- and instal the necessary plant, and their substantial reserves would permit the company to command a controlling interest in the concern. The advent of this change in. the industry would probably bring about a reduction of the handsome profits at present being enjoyed-. Within the past few months the depot at Mount Eden had been charged to almost double. This would enable them to handle considerably more coal at a much lesser cost, and, further, if the occasion arose, the company would, with the co-operation of the other Waikato companies, be in a position to cope with the whole of the retail trade in Auckland, thus eliminating the middleman, and resulting in a big reduction in the present high cost of coal in Auckland. Mr. J. W. Bailey and Mr. B. A. Smith were re-elected unopposed to the directorate. Messrs. Chambers, Worth and Chambers were reappointed auditors. A hearty vote of thanks, accompanied by a substantial bonus, was passed to the officers and staff.