PAPAROA-COAL CO.

Dominion, Volume 7, Issue 2180, 19 June 1914, Page 10

PAPAROA-COAL CO.

ANNUAL MEETING

The annua! mooting of the Paparea Coal tinning Company, was held at' the Chamber of Cbrome-i-ee en Wednesday. Mr. Hpuiy I'"', Nees, in tho absence ef 'the chairman (Mr. J. P. Maxwell), pre-

ity rectors' Report. The directors' report for tile year ended Jlarok 31, J9.U, was then'read, as follows!—

"Since the last annual report tins work of opening up No. 3 gea-ra in tie eastern subdivision of ilics lease lias been continued. Although the colliery was idle for three nvottths of tfet» vx-ar, owing to the general industrial up* iieava!, 32,000 tarts of coal have beeu won nad placed on the market, Ncttirally the! (strike was very detrimental to tile company,'both fiiiark'ially and otherwise, the coal, though still friable, continues to maintain its high quality. Jjlducativft methods followed, to enswetiie coal being property handled by consirters-, nave proved of adva&tage, with, tho result that a steady and growing demand for the .coal, especially where a sluokeiess fuel is a desidoratnm. The iitt'lk has proved a valuable acquisition, a»d has enabled ns to secure a share of the oversea bunkering trade with- 'prospects finuanaa and extension, The output is-now l about 1200; tons jsfer week, ami lit is antie-ipate"d_ tfat llri? figure will Jbe substantially'•iiiefeased in the nna.r futu-i'e. Miii.iiig oporatiotts afo now unider.th* oontral of Mr. J. A. C. Bayue as mining onginee-r and 'manager., whose I work bas. given 'eminent satisfaction to j tho directors, A . detailed ge.otogtea4 survey of the- western (and 1-ai'ger) s-iib-division -of the leaao k now boirtg mad© ; in ant-icipatiftu of the tij'no whfinJ't. will ■ bo n-sccss-ary-. to open up this part of the iieid. It is soniWh-at- early to <io i-ndi'6 tbati re ! fer to this ivotk at present, but the. rosal't-s so far. obtained are encouraging mi. corifirm anticipations- that this part of the field coutains considerable deposits .-of serai" antbi-aiitfl coal. Tho.retiring.diHsstors are i>r. C. Prendcrgas't. Ktriglit and Mr. ;A. D. CraHv'fefd, w-hs, being eligible,: ■ofey thetnselvss for i-e-ele.etiou. The auditors, Messrs. Watluns, Hull, m$ Wlwe-ler, ofroi' tbejuselvos for ' re-aj)-pointnie-iit.?'. i Cbaifmgn's Speetili, The. e'haitftijfl, moving tin; adoption :&{. tho v fepM-l. afi<l baiaswa-shoet said that, largely,ofrjfig to tho strike, the bojies held 'out at- last meet-fog ai tlj* .sbarcboh!e.rs i'or a i'adiea.l imprar&itpnt »_ tho - fcoiidttiaii of-the company's affairs' had not been wirolly roiilised. I-u the slack time by tjio strike, hbwevctf, tho- ■plain and the mine lia-u been ovorbarfed, and fee was s-ay that the present output Was pavittg all Working es|-pmi«es. Tbi2 de'ma-ii'd for the. coal was, intirqasing, and' its value, as a, stea,m eoal, both'cm sort and land, Was rapidly becoming appreciated. It fffljS lwped that before very long -the OH-bptit of tte mine would be'increased, '.■Hit! if .tW.s s-lioutd happen,' the «>». pany ivotild be able to- p'ay oxpehsos and to coannente ovartakiiig'tbe. arrears «f debenture_ interest now* aßctinitttijtms'. He had visited tile mine shortly; before •Easter, and 'front his Q'bsCT.va&ns on the spot be; «%as g'M lo be aJ)Ie to say ftat tho em<i\ was looking good, and they were- wi-.ttnmj* it mpre eltoaply than thov ever did bet-ore. Martover, as tbo coal was grosving in favour witft its-ers, ttio diireotors Sa,iv notteijfliitt 'pt«Sperity ahead if the present xjirtlity w : a-s ni-am-. tained. - ■"

Mi-.- f-. .S. .W.festatt; mkl that, the . M rt* jiiit"iras nrj!t'"l?ofj.tons a'iveofe, tntt by. August hex* ri; •'sliQiiM' be 20M tots. Tlio- prtspcots ,-ivws never bViftliter than at present. •Tiits report and balanee-steit were adopted. Elected Oiresitors. . 'Jflw retiriftg directors,, Dr. C. I?Tondergast KrjigJit; ftiid -Mts, A, ■ 13,, <3rawfprd', were reK>|(?Gtcd: juid tho atjdHors,'] Messrs. Wa-tkiihs, .Hullj ajtii Whefrler, i wore re-ftppoinjeij. ■ (Ju the fti.otfa* of Mr. % 'S. Westojj., •by Mr. A. Dv Gwwfotd,' al ■yote of feaks was passed to the. rriiiio J mafjagef', 'ffir, J". A. O. Baynfl, the niiilo, ] ji'tafi, and ,to the. Mir. .©.'■; 'roivpse'ikl. ■