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New Zealand Times, Volume XXIX, Issue 4127, 12 June 1874, Page 2

It will doubtless interest shareholders resident in Wellington and other cities to learn, as wo do by telegram, that the Groyinouth Coal-mining Company, floated a few months ago, have effected tire purchase of an undoubtedly valuable property—the leaso of the Brunner Coalmine. By this purchase, even should it have been effected at a high cost, the prosperity of the company may bo considered to bo now assured. Tho history of tho company hitherto has not been all that the shareholders might have expected, though it was only such as those who wore locally acquainted had anticipated. Their first practical work was to tunnel into the deep and rich seam of coal exposed on the south side of tho River Grey, exactly opposite the Brunner mine, but their hopes and tho seam wore “ nipped ”by the occurrence of an overly of rook which confined the area of coal to such minute limits as to make its profitable working altogether out of the question. Then they proceeded with boring operations, under the supervision of a manager of skill and of experience on tho coalfields of New South Wales, and, if all reports be correct, they have on the south side of tho Grey an undoubtedly extensive area of available coal, sufficient of itself to keep a single company working till the crack of doom. To the shareholders and to many others besides them, it was, however, a sore disappointment that, at tho very time capital was being obtained in tho Colony to work this valuable coalfield, the Nelson Government should lease the Brunner mine without note of warning as to their intention, or affording to a company of New Zealand institution 'an opportunity of developing its undoubtedly great resources. The Brunner mine, as many know, was leased to a 'Victorian firm or individual speculator, and for a few months has been worked under that leaso, but bj* a telegram which we have from Hokitika tho Greymonth Company have now secured tho lease, and with it a prospecting license for a certain area on tho Mount Bochforl coalfield, in tho Buller district—whatever that may be worth. Instituted as this company indirectly was through action taken by tho late Mayor of Wellington and others in proqjosing a coal-carrying company, it is reasonable to suppose that, in this city, at least, tho stop taken by the company will be appreciated as tending to its ultimate success. Is it too much to hope that it may also tend to tho revival of tho idea, initiated hero, of organising a company whose steam-colliers should, from out of this extensive mine, supply not only tho local demand, but the increasing necessities of tho Colony as a whole 1