THE TOAROHA SCHEME.

Greymouth Evening Star, 30 September 1909, Page 4

THE TOAROHA SCHEME.

MATTERS MOVING AHEAD. The Toarolia scheme is moving slowly ahead. Though progress is slow, it is none the le.-s sure, and reports a.s thev dribble through (according u< the Guardian) continue to be of a satisfactory character. The gentleman who took the scheme Home for flotation, write.-, it is tinderstood, most liopefullv of the prospects of flotation. Since arrival in England, the interest of a large speculator has been secured, and it' the re|K>rU, etc., are confirmatory of the prospectus, there should Ive no difficulty as to the finance. It is casually mentioned for instance that the Inain ter who has 1 n induced to interest himself in the Toarolia project, is the same gentleman who has just purchased for half-a-million a lanje hotel pro|>erty which has just pone into liquidation in London. This is mentioned as an indication of the funds being available.

As regards confirmatory reports of tin prosepets of the scheme,' Mr 11. A. Cor don. formerly Inspecting Engineer ->f ,hi Mine, Department, is now in the distric preparing :i report, for the infot matioi -it the London investors. Mr Gordoi visited the Rimu district on Tuesday, pur suing In- investigations. Mr Coition's re

■ >r! will he despatched to London at 111 earliest opportunity.

The investors in England have already been advised ~>{ the ri"hts acquired by the local promoters, and the fad that the water right at Toarolia is available. The draft license in respect to the latter has been received, and was being considered by the Syndicate yesterday. The condition,- are very lengthy, and a number of amendments were suggested. These will be forwarded to Wellington by to-day's mail, and Mr T. \V. Bruce, one of the promoters, who is now in Wellington. will confer with the Minister of Mines on the final details, which, it is hoped, will be expedited, as it is desired to have all rights in London as early as possible in November.