STATE COAL.

Dominion, Volume 5, Issue 1530, 28 August 1912, Page 6

STATE COAL.

NET PROFIT ONLY JC9B. The operations of the State coal mine* during tho last financial' year produced a net profit of only .£96, as against ,£lOsl for the previous year. The gross output of tho mines waa 244,478 tons for disposal, n decrease of 16,325 tons. Tho coal was disposed of in the following manner:— Point Elizabeth. Soddonville, Tons. Tons. Dopots 63,347 2,276 Railways 34,349 20,347 Other Departments 2,900 327 Briquette works — 2,924 Private consumers 87,940 30,749

Totals 158.530 56,623 Tho sales of coal from the Point Eliza* both mine wcro less by 18,749 tons than hist year, as most of tho output 13 now being obtained from pillar workings, and owing to tho exceptionally bad weather .which lias prevailed at Greymouth. causing stoppages at the mine aggregating 21J days. Tho demands have been far in excess of tho capacity of tho mine, but it is hoped that \yhen No. 2 colliery is turning out coal all demands will' ha mot. The .sales from tho Seddonvillo miuo exceed those of last year by 5697 tons. Owing to tho quantity of soft or unsaleable coal in this mine tho time is fast approaching when operations will have to bo abandoned. Tho sum of .£52,293 18s. Gd. was paid for carriage by steamers during the year. Tho net profits for tho year of thr Point Elizabeth colliery were .£3964, anc of tho' Seddonvillo mine .£S62 19s. "d. There was a loss of .£1617 15s. Id. on tin briquetto plant. The Wanganui depol showed a net profit of ,£33 9s. 7d., but 111* other depots wcro worked at a loss, as fol< low:—Wellington, .£942 16s. lid.; Christchurch, .£1644 Is. 7d.; and Dunedin, JJ555 Is. 2d. The net result of these figures, with a deduction of .£4 Gs. for depreciation of ■Wellington office furniture, lcav".». a net profit for the year, after allowing for depreciation at mines and depots, of ,£96 9s. 9d. on a turnover of £120,813.