Page 2 Advertisements Column 2

Auckland Star, Volume XVIII, Issue 146, 23 June 1887, Page 2

Public Notices. ROSPECTUS OF THE KAMO COAL COMPANY (LIMITED). c.'- : : CAPITAL ; ... A~~7 j!'' £50,000In 50,000 Shares of £1 Each. > 2s 6cl per Share to be paid on application; 2s Gd on allotment; in three months alter allotment. Is 3d; in six months after allotment, «*U in 12 months after allotment, 2s (»d; thereafter as required, but no Call to exceed 2s Od per Share, • Provisional Directors: THOMAS MORRIN I EDWIN MITCHELSON R..W. MOODY" I PIERCE .tAMOA*., '.Manager: , ■ Bankers :.i ..*.,- R. W. MOODY I BANK OF NEW SOUTH WALES Solicitors: ■ MESSRS. JACKSON AND RUSSELIBrokers: . ■ , ■;; . > BROKERS ASSOCIATION. ! Secretary, pro tern.: c. w. MOODY. This Company is to be-formed to fflWhwe from the Kamo Colliery Company, Limitea, their Works, Machinery,- Plant, Lands, ana Royalties, situate in the 'District of ■Whangarei, New Zealand, and to work the present valuable seams o£ Coal, Fire Clay, and.other minenim which have been already opened up, and other scams of Coal of very superior quality recent), discovered on the same lands. - - *: • ■ _ ■ The Property to be acquired consists, of I,W. acres of-freohold-COO acres of which .j* forest land, affording an unlimited supply of timber for Mining purposes; and 571 acres of leasehoiu--250 acres of which arc held for a period .of ninety (00) years on payment of ti, royalty or sixpence per ton, and the remainder _foi li years, in all 2,318 acres valuable Mineral Lands. Manager's House. Houses for Miners, and Offices are erected on tho freehold; ' ',' . , The Machinery and Plant (fully particularised in the Schedule attached) is all in good working order, and is,a complete working plant for immediate operations, and adequate to .present requirements. .... ~, . • ~ .*, . The hulk Senator will carry 750 tons coal from Whangarei to Auckland, is in good order, and cost the Company years ago, £3,200. Iwo barges, each with a capacity of R>o tons, cost each.Bsso. , <".-"*',.•.■ .-.,. „ ,„. Coal Wharf at Auckland with storage for 500 tons coal, leased from the Harbour; Board at rental of 30s per week. .'■'■.•" - . , Railway siding at Kamo connecting the pit, through the Railway, with deep-water constructed by the .Company at cost of £1,000. This extensive and valuable property is ofl'ered to the proposed new Company for the sum of thirtv-nve thousand pounds (£35,000)— lcsslthan half tho cost to tho present owners. . The Kamo Coal Co. (Limited) *to. nay Kamo Colliery Co. (Limited), £35,000: ./w..-15,000 shares paid-up to 10s, £7,500: to take existing: mortgages as under—Bank of N c w South Wales, C per cent., £10,000; Meredith, G per cent., £1,300; Farmer, 8 per cent., £1,750: Morrin and Co.. "Senator," 8 per cent.. £1,000; Bank of.New Zealand, C per cent., £4,780-£24,830;. balance in cash. £2,670—£35,000; capital (nominal), £50,000; less 10s per share on 15,000 shares, £7,500----£12,500: amount- to be paid> or to represent mortgages, as above, £-.'4,530; to-be paid in cash, £2,070—£27,500; surplus available as working capital; £15,'000i " '■■'■ ■••'-■ .'»_>■ The present company after having expended a large sum of money in acquiring and opening up this property, has recently been reluctantly compelled to suspend operations Owing to want of capital to meet the requirements of the Government Inspector of Mines, the resources of the few on wbom the burden has fallen not being equal to any further strain. A sum Of from £_,000 to £0,000 will provide funds to sink the shaft, etc., as indicated by Mr Moody, and for a working capital, and -will at once place the mine on a dividend-payingfooting. The present condition of the miiie and workings, and an estimate of its immeniate prospects, may be gathered from the report of Mr R. W. Moody, mining engineer, who has recently inspected and thoroughly examined the property at the desire of the promoters of the now company. His report is appended to this prospectus, and is of value as the report of an independant expert in coal raining, ' ' The present working is from two seams, the first being at a depth of about 230 ft., and 7ft. Jin. thick, giving a first-class household coal, and the second at a depth of 275 ft. and 11ft.; thick, from which the coal is highly esteemed for steam purposes, and is oxtcnsivelyiused by sea-going and coastal steamers, and'the local Government railway. : • - The demand for both household and steam coals, widely known •as "Kamo" coal, has always, been greatlf in exepss of the supply, tho output not having exceed 2,000 tons per months This output can be immediately doubled with the facilities which tho small outlay before referred-to will afford, and can be placed in a ready market at a coat to compete with any, ■other coals. '•"•■ -.'" ■ ' • In addition to the vast stores of coal proved to exist in this property, there are valuable clays, iron ore, and other1 minerals which will in time prove sources of profit, but in the stores of.coal alone, which are proved both as to quantity and quality, there is the assurance o£a profitable investment, -~,*• The greater part of tho Company's freehold, consists of good agricultural land,;and may be; leased in small areas for farms. Several lots' have been already go leased, and-it is estimated a rental of from £100 to £500 per annum will be received from this source '■'■-' •' ' The M-chinery and other Plant consists of Winding, Pumping*.' and other Steam Engines, Steam Boilers, Coal Skips, a large'quantity of Tramway Rails, Coal Screens, Blacksmiths' and. Carpenter's Shops, with Tools, Timber, Iron, etc., also -Agent's and "Workmen's Houses, etc., etc., as per'lnventory to be seen at the Company's oiiice, i, Marine Chambers. AUCKLAND, 15th June, 1887. To the CHAIRM.- N and DIRECTORS of the KAMO COLLIERY COMPANY, LTD» Gentlemen. , ~.- _ .... In accordance with your instructions I have been over, and have thoroughly cxariuned, the' whole of the mineral properties and plant of the Kamo Co*l Company at Whangarei, and now? beg to hand you my report, as follows:— 1 find that on referring to the plans of your surface properties they Consist of 1,717 acres of freehold and 571 acre 6of leasehold lands, in all about 2,318 acres; the leaseholds being all secured to tbo Company for long periods at very moderate rentals. .*.,_>.) n i The whole of these properties have already been prored beyond all doubt to contain two, very valuable seams of coal;-the top seam, 230 feet from the surface, being 7ft 4in. in thickness of clean coal; and the lower.scam, 275 ft. froVa the surface, is lift.'thick'of clean coal, therebeing no bands or refuse whatever in either seam, which is a- great advantage in securing the marketable coal in a perfectly-clean; condition. And, by a careful examination of tho underground workings, 1 find that the quantity of coal extracted from both s_aihS up-to the present time is not more than 12ff acres, thus leaving about 2,220 acres of both seamsof coal untouched " for future operations,-*which will.' I consider, yield (exclusive of faults aiid'sm'all coal) some--thing liko 33,000,00.0 tons of marketable coal; audi am certainly disposed to believe that from good indications other seams '.of coal' will be found on this property fit lower levels, and at,no, groat depth below your present bottom -geain.'-' ' : The permanent wirianig'find primping machinery, with all tho other, plant and appliances now on the Company's property are good, substantial, and in first-class working order, and quito sufficient for an output of coal of from 300 tp 100 tons per day. Also''the*winding and pumping shafts, with all their necessary fittings, and all the underground drives arid tram roads necessary for the conveyance of coal to the bottom of the shaft, are all in perfect working order,'and ready for work at a moment's notice.' The only outlay required to commence working operations on a satisfactory basis is tho sinking ot a new and larger ventilating shaft, which can be done at a very moderate cost, and whicli is rendered necessary by the-Mining-Act recently passed by tlio New Zealand Legislature, with somo other minor improvements found to bo absolutely required to increase the output of coal, which is necessary to meet the greatly increased demand for tlio Coinpariy.s coal. The coal can be produced and loaded into tiie radway waggons., alongside the Company's screens at the colliery at a. very, moderate cost and tbe daily increasing demand for both house and steam consumption.is satisfactory- proof that a very prosperous future is in store for the Kamo Coal Company. Aiid, in conclusion;! believe tliat lam perfectly safe in stating that, the Kamo Colliery speculation will prove to be one of the safest investments of the kind in the Australasian .Colonies. • '■-' * ■ .* -,_ , ,-.; *.' •'' - o-l I am, Gentlemen, ;: -. ■■' .-..i-..* ~;. .'. : ■':; Yours faithfully,' '•' •■*■ " R. W. MOODY, .-';.. -1;....1 Mining, Civil, and Mechanical Engineer. ,;, J. -BUTCHER.] : ".". ; ';;., [j. GRO.OM. WE HAVE' FOR . 'S,A LE;_ ' Rod and Bar Iron, Wire Nails, Fencing Barb Wire, Roofing Iron, Sash Weights, • Buckets Tubs, Springs, and Patent Axles, j Coarse and Fine Salt. . _ it.'--'.'.':,. ■■•• :; '7, GRo:b:-.,rß:D;T;C:fl'EE;v&:;co.,: L : FORT-STREET. :, i'„, '•; ■;.'.'' Telephone 2H j i ■■•/ ■■-■•',:' '.*.' :-.„,'--l : ~<,' Q>K COSTUMES in Cashmere . and ■ f&vJV jCurclqth, trimfned-nlush and braided; the very latest styles; all cost -own* -J. M. McLachlan,-222 Queen Street. --•■"• J