(Translated from La Epoca)
The bill presented to the National Assembly by the Minister of Finance:
“Authorised by the law of 23 June 1870 to sell the Río Tinto mines by public auction, and by the law of 26 December last to sell them without the formalities of auction—but under the price and conditions set out in the auction which was to have taken place, for the second time, on 23 November but failed—the government today submits for the approval of the National Assembly the award it has made of those mines to Messrs. William Edward Guentell, Ernest H. Taylor, and Enrique Doctsch, whose proposal, made in their own names and on behalf of the firm Matheson & Co. of London, was the one which most fully and satisfactorily met the conditions of the tender among the four submitted within the stipulated deadline.”
“One of those conditions was that the price should meet the set minimum of 92,756,592 pesetas fixed for the second auction. The accepted offer exceeded that minimum by 43,400 pesetas, as it amounted to 92,800,000 pesetas.”
“Another condition was that a deposit of 4,637,820.60 pesetas—equivalent to 5% of the base price of 92,756,592 pesetas—had to be lodged either with the General Deposit Office or with the local economic administration in Huelva. This condition was also met in full and exceeded by the aforementioned firm Matheson & Co., as evidenced by the deposit receipt issued by the General Deposit Office, which was attached to and forms part of the accepted proposal.”
“The eleventh economic condition offered a notable advantage to the purchaser, provided they undertook the obligation to construct at their own expense a railway line from the mines to the port of Huelva. The proposal from Matheson & Co. went further by immediately committing to the construction of that important railway line at their own cost, requesting the concession be granted with public utility status—a status which cannot and should not be denied.”
“On the one hand, this, and on the other, the fact that no other proposal submitted within the deadline so completely and credibly fulfilled the conditions stipulated for the sale of the Río Tinto mines, led the previous government to accept it and to award the contract to Matheson & Co. as the highest bidder. In this context, and in compliance with Article 8 of the law of 26 December 1872 (Revenue Budget for 1872–1873), the executive power submits the attached bill to the approval of the National Assembly.”
Madrid 11 of February 1873.— Inland Revenue Minister, José Echegaray.
PROJECT OF LAW
“The Río Tinto mines are definitively awarded for sale to Messrs. William Edward Guentell, Ernest H. Taylor, and Enrique Doctsch, acting in their own names and on behalf of the firm Matheson & Co. of London, for the sum of 92,800,000 pesetas, in accordance with the proposal guaranteed by the prior deposit and accepted by the government, under the terms set out by the laws of 23 June 1870, 26 December 1872, and the official announcement of 1 January of the current year.”
“The government is authorised to grant the purchasers of the Río Tinto mines—Messrs. Guentell, Taylor, Matheson & Co.—a railway concession running from the mines to the port of Huelva, declaring it to be of public utility, but without any subsidy or financial assistance from the State, and in accordance with the railway laws and regulations.”
Madrid 14 of February 1873.— Inland Revenue Minister, José Echegaray.
