THE Inangahua Times PUBLISHED TRI-WEEKLY. MONDAY,AUGUST 5,1878.

Inangahua Times, Volume V, Issue 55, 5 August 1878, Page 2

THE Inangahua Times PUBLISHED TRI-WEEKLY. MONDAY,AUGUST 5,1878.

Wiii nre glad to I'enr-n tlinft somo.stopf are about to bo tnkon by tho share* brokerH and othern directly interested in mining vonturog in tho Inangahua to ondoavor to procure an amendment of tho " Mining Com.panieß Act." Ml W, M'Lefin, ia we learn, interesting hlmaolf in tho matter, nnd with a view of securing combined action,, a mooting baa been convoncd for Tuesday oven»< ing neat, for tho purpose of conaiJering amondmonta to bo (submitted, which upon being approved of 1 ,, will bo tranamilted at once to the disfcriof represen. tative« in Parliament requesting theni to bring fchoHtibjicet before tho House during tho proaeafc Beasion. Tlmj- »tcp ia undoubtedly a vory wiae one, and the wonder ia thnt it waa not taken long ngo. It lina been found, however, that tho recent ruling o! the Supreme Court upon tho forfeiture elausea of the Act has rendered 1 the enactment quite unworkable, and* it has therefore become imperative that the law. should bo amended. By the ruling alluded to the Banks are stripped of their chief security for advancea and owing to tho general feeling of insecurity engendered, investment ia cheeked, capital ia being withhold,, nnd a feeliqg of diatnwt has been created amongst shareholders which ia working yery injurw oualy in many ways. The Mining Com pan lea Act has been a fruitful topic of denunciation for years past ; ita all round fogginoß& hrn be»a the means of dragging innumerable persona to ruin, and; of causing ft prodi* giouß waste of money in litigation, and generally has proved a most harmful ob « ntflcle to tho progress of quarts mining. Now that the- opportunity presents itself for remedying these evils, it ia to be hoped that ifc will be embrnced by all concevnedi It would ho i well if the parliamentary representative's of all tho golflfi'olds in the Colony were coinmunfi eated ,with reqiuesting their support to an amended act, for if this were done, and 1 thoir concurrence secured, as. it no rloubt would be,.there would bo a, strong chnnce of the propoaod meamu'esjieedily becoming law.