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Inangahua Times, Volume II, Issue II, 12 July 1880, Page 2

•: The-mettlorial q$ incorporation of the Inangahua Low Level .Tunnel Company has been prepared, and is now in course of signature by local shareholders, We are pleased to. learn that the shares in the company a*e being tuken up more readily than was expected. The sum payable upon allotment is so trifling, and the calla being limited to one penny per month, it falls easily with'n the power of 'every man, or woman ; fpr the matter of that, to become a shareholder in the venture. There are only 21,000 shares in the company, so that any advance in the value of the shares likely to arise from discoveries by the venture, will be substantial. As far as the direct prospects of the under • taking are concerned, it is certain that few enterprises entered upon in the Inan^ahua have set out under equally favorable con* dilions. In the first place, the company will obtain £2 worth of work for every £1 ot its capital expended. The survey of the line being completed, that large item of prelims mary expenditure the company will be relieved from. In the next place there is an efficient battery at almost the very mouth of the tunnel, co that any stone which may be met with during the progress of the tunnel can be run to the stampers at a mere nominal cost. Further than this, however, the company possesses an additional prospective source of income in the rent to be derived from other companies for the use of. the tunnel. Moreover, as the whole of the work, such as driving, procuring timber and laying down rails, &c, will doubtless be performed in one or more contracts, there will be no expense for mining management, not at all evcitp for some time to come, more esi peeially as the work is situated so near the town, and where inspection' can be so easily carried on by the practical members of the directory. All these circumstances, we say, combine to commend the undertaking as one of the very best" direct investments ever put before the inhabitants, but every property* holder, every business man, and even every miner in the community, is bound in his own interest to favor the undertaking upon Sroader grounds ; for whatever may be the direct profit gained by the company, it will be as nothing compared with the benefits to trade and property which would result from the striking of puyabla stone at such a depth. Who would care to say that the Boatman's reefs are not a continuation of those of Murray Creek ? This hypothesis the Low Tunnel will go far to solve, and if it should be, if only in a small way, affirmatively, the gain to the district would be inestimable. We hail the project then as the one safe and sure panacea for the present local depression, and do not hesitate to predict that it will result in momentous advantages to the whole community. The following is the exact wording of the resolution authorising the reductions in the civil service s — That from the Ist August next, a reductiou of not less than 10 per cent, be made from all salaries, pays and wages (except officers of the Legislature) ; that the Government should make as large reductions in the staff of officers as can be effected by amalgamation andre-organisatiop of offices; that such public services as are not.indispen* sible for the efficient conduct of the public business should be ' abolished;* It was subsequently stated in committee that Government would reduce some salaries more than 10 per cent-, and some less. The first step has been taken towards the abolishment of the Beeftbn-Westport Mai) service, by ■'the" striking 'from the Estimates ot' tfa'e' item for mail service between Nelson and 'Vlfesfport.