COAL INDUSTRY

Waikato Times, Volume 122, Issue 20491, 6 May 1938, Page 7

COAL INDUSTRY

CRITICISM OF BILL THE QUESTION OF ROYALTIES EARL OF MUNSTER 5 VIEWS tOfficial Wireless) RUGBY, May 4 Considerable criticism of Pari One of the coal Bill developed in the il'»u>e of Lords when it was considered 0,1 Hie second reading. This part of the bill relates to the stale acquisition of mining royalties for the sum of £66,430,000. Moving the second reading, the Earl of Munster claimed that the royally owners were to be fairly compensated on the basis of 15 years for purchase. He expressed the view, which he shared with two Comrplssions, that private ownership of coal had not been conducive to the best organisation and development, of the industry. The terms of purchase were criticised by several members who were themselves royalty-owners, and the Archbishop of Canterbury, Dr. Lang, while not opposing the second reading. ■Aid that in regard to the ecclesiastical commissioners the difference between the present income from the sum to be paid in compensation would be £120,000 a year, but insurance against the natural exhaustion of tin's source of income reduced the loss to £50,000. Later in the debate notice was given by Lord Hastings of his intention to move the omission of this part of the bill.