MINING.

Taranaki Daily News, Volume LV, Issue 62, 31 July 1912, Page 5

MINING.

THE ROSS GOLDFIELDS. By Telegraph—Press Association. Wellington, Last Night. The directors of the Ross Goldfields Reconstructed Limited have issued a circular to the shareholders regretting that the contractors for the Diesel oil engine, Which was ordered as a stand-by plant, have'cabh'd .stating that a delay of about three months will be occasioned by the recent coal strike in England, and that delivery cannot be given before the second week iu September, i.e., of November in New Zealand. This places the directors in a most awkward and difficult position if they are to rigidly adhere to the previous understanding with the shareholders of the company. The circular proceeds: "A large sum of money was placed at the disposal of the board in order that this stand-by plant could be purchased, and the continuous running of our mining pumping arrangements made more certain and secure. Furthermore, your directors, expecting delivery in London as per contract at the end of June, made all arrangements for an immediate start as near thatdate as possible. These arrangements included the appointment of a manager and small staff, and a complete overhaul of all the electrical plant and the transmission line, and generally everything had been so far advanced'that bv the time the balance of the staff could be got together we were readv for starting." The directors decided'that it was best to reconsider the previouslyarranged plan of operations and have consulted; with the. manager and with Mr. Tempin, electrical engineer. Both consider that it- would be wise and safe to commence emptying the mine and doing the necessary underground development work as soon aspossible. The directors are further of opinion that it will be to the financial benefit of the company to act on these opinions and commence operations at once, in preference to a course of further marking time. They consider that it will be cheaper for the company to work and take the risk of interruptions, to push on the necessary development work to sufficiently open up the ground, and allow the system to be perfected for the economical handling of wash dirt in bulk than to stand idle and pay very heavy standing expenses until the plant arrives. The shareholders are asked whether they will agree to made a.n immedate start to pump the mine and commence the necessary preliminary preparatory works relying on the present hydro-electric plant alone, or to delay operations until the Diesel oil plant arrives.