GRANTS FOR MINING.

Hauraki Plains Gazette, Volume XXXVII, Issue 5022, 3 September 1926, Page 2

GRANTS FOR MINING.

COUNTY COUNCIL APPLIED TO. ASSISTANCE FOR IMPERIAL MINE. At yesterday’s meeting of theOhinemuri County Council an application was received from the Imperial Gold 'Mining Ca„ Ltd., for a grant to assist with further development work. In moving that the company be granted a further contribution of £26 55., being 3s 6d a foot for 150 ft of driving, Cr. A. D. McGuire said thdt the company was a genuine trier, and was hopeful of ultimate success. Cr. C. Mason seconded. Cr. W. F. Johnstone said that while lie was not opposing the making of a further contribution, it wap as well to remember that 400 ft at 3s 6d a foot had been granted previously to assist development. He thought that in making an application for further assistance the company should submit details of the work done ’and show how the money had been expended. z Such a report should be certified to by the Tnspctor of Mines, a,nd could be regarded as confidential by the council. ; Cr. R. R. Morrison pointed out that the company was receiving assistance from the Mines Department, and that fact alone was sufficient protection for the council. Cr. Johnstone contended that the council should receive, the fullest details- before a grant was Triage, and there should be some reliable indication given as to the probability of success. Cr. Morrison said th,at mining operations were a gamble from start to .finish. If the company did not go on developing its mine it could not hope to win. He was satisfied that the . work w*a,s proceeding satisfactorily and the money was. being wisely expended. The chairman (Cr. H. M. Corbett) said that if he were in a position to supply all the information that Cr. Johnstone sought he would he in a healthy position to take up shares. He- was optimistic enough to think that the district was on the eve of a decided revival in mining, a.nd if his * contention was correct the council would be faced with many applications for grants and subsidies. The motion was carried.