KAMO COAL COMPANY.

Auckland Star, Volume XVIII, Issue 147, 24 June 1887, Page 8

KAMO COAL COMPANY.

Thosb wealthy people of Auckland who have for some time past been perplexed to find a safe and profitable investment for money, will do well to consider the opportunity otTered of obtaining 'shares in the Kamo Coal Company. A first - class coal mine is a constant source of revenue, when once there'is a fully equipped plant on the ground, and the mine has been thoroughly opened out. These important preliminary works have been accomplished by the late Kamo Company at an enormous cost- some L 75,000 — and in addition to arrangements made for the permanent development of the mine, another important work lias been done, viz., in making the name of Kamo coal thoroughly popular, and in establishing an immediate market for this indispensable product of the earth. Investors of capital require two things security and dividends, and the Kamo Coal Company appears to have both these desiderata. The entire capital to be raised only represents L2O per acre for the freehold property which comprises 1,747 acres, there are also 571 acres of leasehold- 250 acres of which are' held for a period of ninety (90) years on payment of a royalty of sixpence per ton, and the remainder for 21 years, in all 2.31S acres valuable mineral lands. The manager's house, houses for miners and offices are erected on the freehold. The public have now an opportunity of benefiting by the heavy losses of those who first organised and worked the mine as in addition to the incalculable value of an extensive coal freehold there is as it were thrown into the bargain costly mine machinery and plant all in good working order, and adequate to present requirements. The hulk Senator which will carry 750 tons coal from Whangarei to Auckland, is in good order, and cost the Company L 3.200. Two barges, each with a capacity of 150 tons, cost each L 550. There is a coal wharf at Auckland with storage for 500 tons coal and a railway siding at Kamo connecting the pit, through the railway, with deep water, —constructed by the Company at cost of LI.OOO. The whole of this extensive and valuable property is offered to the proposed new Company for the sum 'of thirty-five thousand pounds (L 35.000)— less than half the cost tothopreseot gsyners,"

Although it is satisfactory to new share holders to obtain after all L 70.000 worth of property for L 35,000, pebhaps the most satisfactory and reassuring fact is fcnac »" K. W. Moody will take the general management of affairs. Mr Moody for 12 years was manager ot the Waratah collieries Isewcastle, and during that period had the pleasure of paying shareholders L400.00U in dividends, on a capital of L 60,000. He has now after a thorough inspection of_the Kamo mine, fully satisfied himself that propeily worked this will be one of the biggest and most profitable concerns in the colonies.