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THAMES DEEP LEVELS.

<Fbom Oub Own Correspondent.) AUCKLAND. August 30. me Government's terms in connection with the subsidy of £5000 promised towards the Tbameb deep levels scheme have at last come to hand. The agreement which the five companies concerned are asked to sign provides that the tunnel shall go from the bottom of the 1 Queen of Beauty shaft to the Caledonian shaft with subsidiary crosscuts to the May Queen, Saxon, and the Victoria mines ; " that the works be carried out under the direction of a board of management, consisting of sjven persons, of whom two shall be nominated by the Minister (one of whom shall be chairman) and five other persons, one to be nominated by each company; that the companies shall immediately after the execution of the deed pf agreement jointly pay to the board the sum of £10,000 (£2,000 each) ; that the board shall execute as much of the works as possible out of the £10,000, and when that sum ie expended the Minister shall from time to time, as required, pay in instalments the subsidy of £5000; that the: companies shall jointly and severally be liable to the board for the total cost of maintenance of the works; that the ma : n crosscut be regarded as a work of public utility, and any person or company shall have full liberty to apply to the warden, who may grant permission to work the same on conditions to be fixed by him. An important clause is the following: — "In the evant of gold being obtained by an.v of the companies in payable quantities from the ground adjacent to the works, ; and within 250 ft of vertical measurement above the same, such company or companies shall refund to the Crown a proportion pro rata of the amount of the subsidy paid towards th<i cost of the works, but no company shall refund more than onefifth of the amount of the contribution paid by the Crown." The final clause provides that the Minister of Mines, or any other Minister acting for him, shall not incur any personal liability under the agreement. At a meeting of the Deep Levels Committee this afternoon this draft agreement was fully discussed. In the ebd it was decided to notify the Minister of the companies' willingness to provide £12,000 if necessary, but to request the deletion of the clause making it incumbent on them to pay back moneys in the event of payable gold being struck.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/OW19090901.2.123.1

Bibliographic details
Ngā taipitopito pukapuka

Otago Witness, Issue 2894, 1 September 1909, Page 28

Word count
Tapeke kupu
412

THAMES DEEP LEVELS. Otago Witness, Issue 2894, 1 September 1909, Page 28

THAMES DEEP LEVELS. Otago Witness, Issue 2894, 1 September 1909, Page 28

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