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MAMMOTH COAL MIKES.
?It will te -remembered that eome time ago, Mr. Arnold Lupton, of Leeds, Eng land, obtained tie option -of the Mammoth coal-mine to float it into a companv of £100,000, half of which was to be' the working capital. Mr. Lupton -is so largely ideBtified wjtu rollierirs in Englaad that shareholders of the Mammoth -mine con sidered tbc notation of the cornnanv was
almost certain. This was far from* being tie ca.se, however, and. as a matter of fact. Mr. Lupton. who had to pay a deposit durinjr May. notified the Adelaide directors that he would proceed no further in tlie matter. A notification to this effect was sent to Mr. W. BreckeK the local director, and it arrived on Tuesday. Tltose connec ted with the mine in ilockharapton were -nutunllv rat-iier discouraped at tliis unex ]-e.lcd rcbuil: but on Thursday Mr. Brcc kcls received the following verj- pratifyiiipf (clepram from Mr. H. l'OIl^^-^t^-t^ t^ccro tary of the ( onipany : — Adehiide. Stli June. 1901. An pnt2]asia=1ic meeting of shjircfiol dere to-day authorised directors to pro r-eeJ with vigorous development of the ^i&nimoth niuie. H. C-onigrave. ilr. Rretkels surmises tliat this resolve means that tlic shareholder^ liave deoided ti- inerease the capital of the company and to at once further develop t]ie mine'so as to place the coal on the market with as liuVe delay a* po~,ible. It is a matter for re-rret that the needed capital was not obtained in Australia at lirsl. as there is done', m wliicb case the Mammoth by th tin-.c would iirobablv have beeu a mine iu Ml work. .; ? _.__ ..J