Your Commission have been informed that the Company have proposed to adopt the dividends of the three years 1895, 1896, and 1897 as a basis for the expropriation price, and your Commission can agree to such proposal. The expropriation price being thus fixed, the Company will have all the more reason to co-operate towards the lowering of the tariffs. Further, it appears from the evidence of the managing director of the N.Z.A.S.M., that in consideration of the reduction of tariffs, he wished to have secured to the Company a certain period of existence. Your Commission cannot recommend this course, because they do not deem the same to be in the interests of the State, and it would be contrary to the wishes of the public. As to gold thefts:-- According to the evidence submitted to your Commission, gold thefts are on the increase, and although the Volksraad has given the matter their favourable consideration, and have, at the instance of the Mining Industry, so amended the Gold Law as to provide for the punishment of the sale and being in possession of raw gold, still it has been stated to your Commission in evidence, that the gold thefts amount to about 10 per cent. of the output, equivalent to an amount of L750,000 per annum. It follows that the administration of the law must be faulty, because there are only very few instances where the crime has been detected and punished. If those figures are not exaggerated, and your Commission have no reason to suppose so, then this matter deserves the serious consideration of the Government. The suppression of this crime can be considered as a real saving to the industry, and this amount of three-quarters of a million would, especially in times of depression, exercise a large influence on the yield and financial position of the mines. The industry ask that the penal clauses regarding this matter shall be eliminated from the Gold Law, and that a separate law be passed, more or less on the basis of the I.D.B. Law of Kimberley, Cape Colony, and that measures shall be taken by which the injured parties shall be enabled to exercise control, and have supervision over any department to be established for the detection and suppression of thefts of new gold. Your Commission are of opinion that the Government could grant this request without injuring their dignity, on the basis hereinafter mentioned. On the contrary, it would remove the blame from the present administration, viz., that these thefts can be practically carried on with impunity. As to the Local Board:--