THE Grey River Argus. Tuesday, February 11, 1868.

Grey River Argus, Volume V, Issue 324, 11 February 1868, Page 2

THE Grey River Argus. Tuesday, February 11, 1868.

It is to. be ljoped. tljat the prqniise that hag bep}i made by the representatives of Gi'eyflicnith jn \\\a Qounty Council, respecting instituting strict inquiry as to the manner in which the Cpal Reserve has been disppsecl,o.f will be carried out. For fvoni circtin^stances that haye come to pur knowledge we are lead to believe thut this magnificent publip estate has been deliberately thrown into the hands of a company of speculators, to the great injury of the public interest. From tlie commencement of the transaction there has been an amount of mystery ai^d prevarication th,at is highly suggestive of something that Avould not stand the light of clay. In October last a few persons in Greymouth, anxious to increase the commerce of the port, and to develope the resources of the district, associated themselves for the purpose of working a portion of the coal reserve, and laying clown a tramway from the mine to the town. But on making application to Ohristchurch they were jiiforrned olfichlly that the lease to the Christchurch company "had just been signed." Of course this put a stop to the proposed local company, but it was hoped tha^; the lucky lessees would at once commence in a " bona fide" manner to open the mine. But not ouly has nothing been done since that time, but we are credibly informed that the lease to the Chi isf church company was not ouly not signed at the time it was said it had been, but was not signed until close upon the end of tbe year, and just before the authority of the Superintendent ceased. Not the.least information has been published in the " Provincial Gazette" regarding the conditions' of the lease, and the only fact that we knowabout them is, that the Superintendent has leased the whole kesehve — 5000 acres — to this single company of Cliristchurch speculators, awl in which Mr Moorhouse is himself largely interested ! So far the whole affair savors of the rankest jobbery, and we only hope that the exact circumstances of the case will be thoroughly sifted and exposed. If the lease should be found impossible to upset on its merits, the least that can be done must be to rigidly enforce its conditions — if there are any — compelling the lessees to open and work the mine. The monopoly granted to this one company is a flagrant act of favoritism, and is contrary to all usage. In cases of this kind it is usual to allot only a certain portion of a mineral reserve to one person or company, but in this instance the whole area of the coal field is disposed of to a single company, which has existed about three years, but has not stirred a stove on the ground up to now. But for this monopoly the mine would have been opened long ago, and shipping would have been able to load coals at half the present price. We know oue instance of a thoroughly practical man, who has been connected with large mining undertakings in Victoria and England, who, if he could get a lease of a portion of the reserve, would engage to have a mine opened, and an iron tramway laid down to tlie town in six months. The gentleman we refer to expressed himself *as being thunderstruck to find such a magnificent source of wealth as the coal mine is lyin^ unproductive, To use his own words, "If I could only get a portion of the reserve I would very soou make more money than I could carry." And there is no doubt of thp fact that the coal reserve is a mine of wealth of which few persons can form, an adequate calculation. The means of making Greymouth one of the most prosperous and important towns in the colony lies at our very gates, and yet proper advantage cannot be taken of it. We can only hope that something will be done by the County Council in the matter, and that the Chiistchurcli company will be coerced iuto commencing operations ; or if they will not that the lease will be cancelled.