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2140. What was your output last year? —120,000 tons. 2141. During the time this 300,000 tons lasts do you see any prospect of the traffic over the Midland line increasing ? You say there was about 100 tons a month for the last seven months— that is, 1,200 tons a year: what prospect is there of the traffic increasing over the Midland sections ?—lt depends greatly on the dredging industry. 2142. Have you paid any attention to the possibilities of the dredging industry expanding. We have been told that a few dredges only are now working, but that it is possible that some more dredges may be working—served by the Midland sections —in a few years ? —There is a possibility of that number working. 2143. What number do you think are working now getting coal from you?— Three. 2144. Supposing between twenty and forty were working, what increase would you expect in that case on the traffic of the Midland Eailway ?—About 15 tons a dredge per week is what they use. Of course, we might not get all the dredges ; that is about the average consumption of a dredge per week. 2145. About 750 tons a year?—Abotit 700 tons a year per dredge. 2146. And you think there is a prospect of your company supplying some of the dredges?— It depends greatly on the reports of the engineers and what coal they will have. 2147. You know the coals with which you have to compete—the number of mines and quality of the coal: what, in your opinion, is the chance of your getting, say, half ?—I do not expect half. 2148. What proportion might you fairly expect?—l suppose about a quarter. 2149. Of the probable thirty or forty dredges ?—Yes. 2150. That would be an average of say, nine dredges, at 700 tons a year each, that might be expected to be added to the present traffic ?—Yes, it might be in time. 2151. Mr. Bell.] With regard to your mine—the Brunner—it is owned, is it not, by the Greymouth-Point Elizabeth Company ? —I understand it is. 2152. Do you not know your own master ?—I do not. 2153. What company pays you ?—I pay myself, in one sense. 2154. Do you know whether the same company that owns your mine owns the GreymouthPoint Elizabeth Point coal leases ?—I believe so. 2155. Has a railway been built by that company, or partly built, to those leaseholds ?—Yes; partly built and brought across the river by the company. 2156. With the object of developing those mines ? —Yes. 2157. In the meantime the Brunner Mine is producing coal ?—Yes. 2158. If the railway extended a little further would it not open up the Point Elizabeth leases ? —Yes; the railway is opening up the coal-seams on the leases. 2159. Which you understand belong to the same company —the Brunner ?—Yes. 2160. Do you know the Point Elizabeth seams? —I have been over them several times. 2161. Are there any large seams of coal or large outcrops ?—-Practically speaking, there are three different outcrops of seams : one is a large seam, and the other two are ordinary sized seams. 2162. They say these seams would be available to your company if there is a termination of the Brunner Mine export ?—Yes. 2163. The Chairman.] I understood you to mean the Brunner lease when you referred to the 300,000 tons ?—Yes; the Brunner mines. 2164. Would an extensive prospect, in your opinion, discover any more coal-seams in the same lease? —There are other seams, but they are not get-at-able from the Brunner side, but from the Point Elizabeth side. 2165. How does the population of Brunner compare now with what it was five years ago?—l cannot go back five years. 2166. Since you have been there?—l think there has been an increase of population during the last three years. 2167. Mr. Hudson.] Have you any knowledge of the Eeefton coal? —Nothing further than seeing it pass in the train. Henry St. John Chbistophebs further examined on oath. 2168. The Chairman.] You put in this return as a return of the rolling-stock and its condition when the line was seized, or shortly after? —This is the amended return of the stock you wished me to make [Exhibit No. 18]. I have given the matter very careful consideration. I have taken into consideration all the circumstances, and I do not know that I can get any nearer. 2169. Can you give me any idea of the amount of depreciation of a building along the line from the commencement of the Midland Eailway to Eeefton and from the Junction to Jackson's ? —I should take it that a building on the West Coast would depreciate at the rate of at least 5 per cent, per annum on its value —that is, taking into consideration the severe climate the buildings are subjected to, which, as you know, is very damp. Providing, of course, that proper supervision and care were exercised and that painting had been done, I think that 5 per cent, would be about a fair valuation to make. Some of the buildings taken over from the Midland Eailway Company, especially the cottages and residences, I think, from my observation, had been built in rather a cheaper and more hurried manner than many of the other structures put up by the company; so much so that a very large quantity of green timber had been used, more especially in the lining. This necessitated, of course, a good deal of extra expense in scrimming and papering to make them habitable in the winter weather, and that would naturally add a good deal to the expense of repairs and up-keep of buildings of that class. The other buildings, such as stations, goods-sheds, engine-sheds, repairing- sheds, &c, would, of course, come under the heading I have already given you, which I think would be met by a depreciation of 5 per cent per annum.