GOAL MINES COMMISSION.

Gisborne Times, Volume V, Issue 70, 26 March 1901, Page 3

GOAL MINES COMMISSION.

WHY THE PEICE IS KEPT UP. SCREENED AND UN SCREENED COAL. SHALE OIL FROM OREPUKI. (By Telegraph —Press Association.)

1 Dunedin, last night. The Coal Mines Commission held a sitting in Dunedin to-day. George Joachim, General Manager of the Westport Coal Company, gave evidence dealing with the capital. He said that 10s per share had been paid off for losses. There were debentures equal to .£60,000 owing, and other liabilities equal .£40,000. The dividends paid from 1882 equalled 44- per cent. The present output could be maintained for the present generation—i.e., from 20 to 25 years. The Company had recently spent £II,OOO in crossing a fault at Granity. Last year, the average price for the whole output, f.0.b., Westport, was 10s lOd per ton. Only about 20 per cent, of the whole output was fit for screened coal, so that out of every five tons one ton only could be sold as screened. The price of 22s 6d at Wellington was for screened coal, and to get that the whole output had to be taken into count. They could only get 20 per cent, of screened coal, tho rest sold at reduced rate. There was no preference in the matter of sale. It was absolutely incorrect to say the Company closed the Wallsend mine to'-’ profit the Westport. It was closed because the quality was inferior to that of Brunner, and the coal was cut off by faults on all sides. They found that the demand could be supplied from Brunner, and they crossed Wallsend, over which they lost £BOOO.

W. I’. Watson, general manager of the Coal and Oil Company, said they hoped to bo in a position to supply 2000 gallons of oil from the Orcpuki Shale Works by the end of April, and crude oil very shortly. Tho Company had applied for an extension of time for the Government bonus, but had got no reply, yet there were 130 bands employed at Orepuki, and 300 at Kaitangata.