COAL PROSPECTING.

Wairarapa Daily Times, Volume IX, Issue 2854, 22 March 1888, Page 2

COAL PROSPECTING.

A meeting was held in the Central Chambers last night of those interested in the forming of an organisation tor the purpose of prospecting and developing a coal output from the Tararua ranges in the vicinity of the Fercridge. There were about fifteen persons present, and Mr M. Caselberg was voted to the chair.

Mr Thos, Mackay, who was asked to explain what he had seen upon the occasion of his recent visit to Fernridge, said that on Mr Falconer's land in the vicinity of the Black Creek there was a coal outcrop in several places, the seam being about two feet thicj, There were also traces of ironstone and other mineral formations. He then gave further details of the mineralogies! formation.

Mr Falconer said that the Government geologist had reported that there were coal indications for three-quar-ters of a mile and such as to make it likely that a coal measure could be found at a lower level, The Geologist, however, remarked upon the absence of any local market, and the necessity that would exist for export, to make the output profitable, The Chairman pointed out the advantages of testing the neighborhood for coal, whjch wag, as all present knew, the mother of other industries, a«dwo\}ldclotmwl}tQ Wf the pros-

perity of the district, What they had to do, therefore, was to arrange for proapecting, and to do it iu such a way as to avoid any inadvisable expenditure. .

Mr Falconer was here asked upon what terras a prospecting company would be allowed on his property. In reply, Mr Falconer said that he had 399 acres of land at the Fernridge and he would be willing to sell either one hundred acres or the whole of it to a Ciimpany. In the event of a really good seam being found, he considered the property would be cheap at £SO all acre, and he would take half payment in shares. The land was now worth £lO an acre for grazing purpta.

After several persons present had expressed their opinions that Mr Falconer's terms were rather high, Mr A, W, Ho£[g said that he considered Mr Falconer had not asked an exorbitant price for his land, provided it proved the scene of a good coal field. The speaker then alluded to the wonderful effect such An industry as a payable coal field would have upon the welfare of the Wairarapa and the community, It would employ labour, utilise capital, and prove the forerunner of numerous other industries,

Referring to a proposition on the part of Mr L. J, Hooper to givn Mr Falconer, after succeeaful prospecting, £lO an acre for the land, and then subsequently to let him have in shares half the value of the mine, Mr Hogg said that the proposal to pay that gentleman in shares at all had emanated from those persons present, for as a matter of fact, Mr Falconer had been prepared to sell out his Isnd. He considered that £SO an acre was not too much, and that outright purchase was much preferable to the payment of a Royalty, which had been suggested by some present. After some further discussion regarding terms, Mr Falconer said that he would be satisfied for Mr Hogg to represent him, and that he would accept any arrangement thatgentleman made on his behalf.

The Chairman thought this proposition not acceptable, but that perhaps £2O an acre, part cash, and part in shares, would meet the case.

Moro conversation ensued and eventually Mr Hogg moved that the Chairman, Messrs Thos. Mackay, L, J. Hooper, and J. J, Smith should be appointed a committee to confer with Mr Falconer as to the terms upon which his land could be acquired, or coal be removed, and also to ascertain the expense and best means of boring and prospecting, the committee to report in a week. This was seconded by Mr Johnston and carried. Mr Thos, Mackay was appointed honorary Secretary. The meeting then adjourned,