GOLD MINING ON THE WEST COAST.
AMBITIOUS SCHEME ATTRACTS EXTENSIVE CAPITAL. NEW COMPANY IS FORMED. Press Association. HOKITIKA, September 4. The Ross GoUlfiolds Co., Ltd., with a capital of eighty thousand pounds, was registered to-day. The company will drain and work tho deep levels of Ross Hat which have long boon inaocessablo owing to water. Tho Government will also furnish a subsidy of £15,000. Tho company will use electrical powers derived from Hake Kaimro, and later on it is expected power will bo for sale, when it will bo most useful for industrial development. „ The first directors of tho company include the Hon. J. D. Ormond (Napier), and Mr. J. F. Welch (Wellington). 35,000 shares have so far been issued and underwritten, while 10,000 are held as a reserve. Tho remaining 35.000 shares of capital ait paid up. The registered office of the company will bo at Hokitika. Mr. H. M. Smyth is engineer to tho company and Mr. James Park solicitor. Local directors aro Messrs H. L. _Micliol, J. A. Murdock and J. Grimmond.
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Bibliographic details
Gisborne Times, Volume XXV, Issue 2177, 5 September 1907, Page 3
Word Count
175GOLD MINING ON THE WEST COAST. Gisborne Times, Volume XXV, Issue 2177, 5 September 1907, Page 3
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