The Wairarapa Daily. THURSDAY, MARCH 15, 1888. COAL MINING.

Wairarapa Daily Times, Volume IX, Issue 2848, 15 March 1888, Page 2

The Wairarapa Daily. THURSDAY, MARCH 15, 1888. COAL MINING.

A preliminary meeting is convened for to-morrow evening of all residents interested in the development of cod deposits near Masterton. The names of the promoters of this proposed gathering are not as yet disclosed, ua is any specific programme detailed, but even wHli these drawbacks we are very pleased to find that coal prospecting in this neighborhood has reached a stage at which it is considered expedient to invite the co-operation of the public. We believewe are correct in stating that not only has the existence of coal deposits in the Fernridge district been absolutely proved, but that some of those who are engaged, in sinking feel more than hopeful of a valuable result, We cannot expect, however,, a very large amount of enthusiasm even over coal discoveries. Money is somewhat scarce just at present, and those fortunate people who possess a little are very reluctant to invest it in any speculative enterprises. It is also understood that coal does not always realise very big dividends, and that the discovery of even extensive coal measures is not necessarily a fortune, Still, we venture to believe that if mining experts should report that there are coal deposits in this neighborhood which are worth developing from a, commercial standpoint, 110 difficulty would be found in obtaining the necessary capital. The funds necessary for any trial boring, or for securing a reliable report on such borings will not be a very serious matter, and should be readily collected. There ought to be no difficulty in finding means for any preliminary work of this kind, and then, if the result of it guarantees further operations, the raising of a more considerable sum would become necessary. We trust the promoters of the meeting convened for to-morrow evening will be content to ask for such help as may be needed for prospecting purposes only, unless it should happen that sufficient prospecting has already- been done to warrant' mining operations. If this should prove to be the case, and there is evidence to put before the public of the commercial value of the discovery, there will be little difficulty in raising ways and means. We can hardly expeet, however, that this stage has yet been reached. In any-case the meeting will be of use in calling public attention, both within and without the Wairarapa, to a source of mineral wealth which sooner or later may be expected to yield a harvest for the district and for the Colony. We would remind property holders in this neighborhood especially, that . any development of coal deposits here must necessarily enhance the value of their estates, and that for their own advantage they should display a lively interest in any movement which may offer even a chance in this direction.