THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. FRIDAY, JULY 23, 1880.

Thames Star, Volume XI, Issue 3611, 23 July 1880, Page 2

THE Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. FRIDAY, JULY 23, 1880.

Once more an agitation is being got up re the., question of pumping the water from the low levels, and again all the old arguments are heard, spoken by the same men, and of course in the direction that contributions should be voted by the local governing 'bodies. In the past, when the circumstances under which pumping was maintained were different, we admitted that both local bodies were somewhat compelled to contribute, but at the same time we were distinctly of opinion that it was a subject outside the duties of any governing body to devote their funds for. such a purpose as the keeping of certain mining properties dry in their lower levels. The County Council in the past were deeply interested in keeping operations going, and were bound by the terms' of certain agreements made with the Government, by which the large water race and the mortgages held over the mines were granted them, and the Borough Council were likewise compelled under an agreement, to grant the goldfield'a rovenue received, towards maintaining the Big Pump for a specified time. , Under such circumstances the point, if whether contributing to such works was a rwrt of their duties was outside the- question. Now, however, the circumstances are quite different, and. the question can be looked 'at from another point of view; it is possible of solution, and should be settled once and for all. That such is desirable is apparent to the most superficial observer. The Big Pump is now the property of a gold-mining, co mpany, one of the most interested in having the low levels drained. Thest j mortgaged mines have in the majority of > cases rererted to the origi* nal owners atcoi oparatively small cost, and the question whj ether the owners of these mines find it to ".their benefit to have these low levels kept ft *cc from water, is there*., fore simply'a iaaVter of pounds, shillings and pence. Kan ing had in the past sub*

stantial contributions towards the cost of pumping operations it is only natural that the mine owners should make, an effort to secure similar benefits tor the future, and the re-appearance of the old speakers and the repetition of the old arguments are not at all surprising, but that either should now have any weight may be so. We have said that the question should be settled, and the experience of the past few days prores so conclusively, for immediately upon the directors of. - the Moanatairi notifying that they would discontinue pumping operations the stock in the several companies interested at once decreased in market value, and in the case of the Caledonian from 36s to 22s 6d in less than a week. Is it right that at the discretion of half a dozen men, because certain local bodies have not paid them contributions, that the property of individuals should be depreciated by nearly 40 per cent. ? And the same may happen again and again, as long as the present unsatisfactory state of things exists. The argument of expediency, - the great advantages to the locality, «fee, it is time was set aside, and if . the mines will not pay to keep their low levels dry, let them remain under water, and let attention be given to such portions as will pay, which in the end will be better for all concerned. It is altogether outside the! functions of local bodies to give towards such.objects, and the sooner such is understood the better; so instead of steps being taken to induce the local bodies to ask for amendments to their Acts of incorporation it would be much more satisfactory if the owners of pumping plants took steps to obtain an Act through the Assembly compelling mine owners benefitted to contribute their just share towards the expenditure. Until such legislation has been granted no satisfactory settlement of the vexed question of drainage may be looked forward to, investors in mining stock may anticipate periodical depressions, the owners of pumping plants may find themselves compelled to cease operations, and the districts in which such works are carried ■omt may never expect to progress or be prosperous.