Miranda Coal and Iron Company.

Thames Star, Volume XVI, Issue 5032, 27 February 1885, Page 3

Miranda Coal and Iron Company.

TYe first animal meeting of shareholders vu held on Wednesday in Auckland, Mr B. C. Barstow (phßirman of Directors) presiding. The report stßted that the remit of boring ob tlie2o3-acro portion of the property showed that tbcseamextendf d tkronghout that block in an unbroktD fleam, baring been struck at the furthest extremity at a depth of 211 feet, acd proved, at an intermediate position, to be 33 feet 6 inches of solid hard coal. On : the 31st January, the shaft was already down 105 feet, or about half its proposed depth, through tenacious clay »nd iron stone, and was making no water, ■howiog the excellent condition of the "roof of the coal. Obierving, as wo all cannot help doing the spread of our city, its increasing manufactures, and multitude of. steam vessels plying from its harbour, it must be obvious that the consumption pf ooal her 6is yet in its infancy, and that • magnificent prospect is in view for us. The report and balance sheet were adopted. : Hr J*B. Stewart, 0.E., said they might be down on coal in vweek, and they were hurrying on with the pumping gear. The distar.ee of thenew shaft fromjthe old one, where ~Mr Pobte's workings were carried 'ijfef was 1250 feet, and at tho present depth 61 their new shaft' they ought to be nearly on the coal.—Captain McKenzie asked in what time they might reasonably expect to get tbe coal to market P—Mr Stewart said it would be "necessary to construct the canal to Marauiarua, and from thence the coal would be taken direct to the railway ..The coal would probably, be delivered at 10s 6d per ton in Auckland.