PUPONGA COAL MINE.
TARANAKI DAIRY COMPANIES AO, QUIRE LARGE INTEREST. A PALMERSTON REPORT. By wire.—Special to News. Palmerston N., Last Night. Information has just leaked out, through an unquestionable source, that the dairy companies of Taranaki have acquired a big interest in the Puponga cor I mine, sufficient to divert a large portion of the mine's output to the butter province. The mine was shut down for some considerable time, on account of there not being sufficient water at the wharf which serves as the outlet for the output to accommodate vessels of any size. The Government was approached some time ago, with a view to advancing sufficient money to lengthen the wharf, the State to be entitled to sufficient coal to cover j the guarantee. The Government declined to handle the proposition. ! The dairy companies of Tatanaki were approached by the company, and they readily took the matter up, with the reeult that it is now announced that a combination of the factories have subscribed sufficient money to give them a controlling interest in the mine, with the right to about 200,000 tons of coal per annum. It is understood that the jetty will be lengthened, so as to give sufficient water for vessels of from 500 to 800 tons, and coal will be shipped direct from there to Taranaki ports. It is understood that the combination of dairy companies in question has taken up in the vicinity of £40,000 worth of shares. The arrangement was entered into with the object of putting the coal shortage beyond the pale, so far as the dairying, industry of Taranaki is concerned, once the mine is given a new lease of life, and improvements undertaken.
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Taranaki Daily News, 23 May 1919, Page 5
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283PUPONGA COAL MINE. Taranaki Daily News, 23 May 1919, Page 5
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