Page 2 Advertisements Column 2

Auckland Star, Volume XVIII, Issue 147, 24 June 1887, Page 2

Public Notices. PROSPECTUS OF THE KAMO COAL COMPANY (LIMITED). CAPITAL £50,000; In 50,000 Shares of £1 Each. 2s 6d per Share to be paid on application; 2s 6d on allotment; in three months after allotment. Is 3d; in six months after allotment, Is 3d; in 12 months after allotment, 2s 6d; thereafter as required, but no Call to exceed "J Cd per Share. Provisional Directors: THOMAS MORRIN I EDWIN MITCHELSON R. \V. MOODY I PIEIiCE LANIGAN Manager: Bankers: H. W. MOODY I BANK OF NEW SOUTH WALES Solicitors: MESSRS. JACKSON AND RUSSELL Brokers: BROKERS ASSOCIATION. Secretary, pro tern.: R. W. MOODY. This Company is to be formed to purchase from tho Kamo Colliery Company, Limited, their Works, Machinery, Plant, Lands, and Royalties, eituate in the District of Whangarei, New Zealand, and to work the present valuable seams of Coal, Fire Clay, and other minerals which have been already opened up, and other seams of Coal of very superior quality rocently discovered on the same lands. The Property to be acquired consists of 1,747 acres of freehold—6oo acres of which is forest land, affording an unlimited Eupply of timber for Mining purposes; and 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 2,318 acres valuable Mineral Lands. Managor'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 ordor, 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. lwo barges, each with a capacity of 150 tons, cost each £550. Coal Wharf at Auckland with storage for 500 tone 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 o£ £1,000. This extensive and valuable property is offered to the proposed new Company for th 3 sum of thirty-nve. thousand pounds (£35,000)— Icsslthan half the cost to the present owners. The Kamo Coal Co. (Limited) to pay Kamo Colliery Co. (Limited), £35,000; thus— ls,ooo shares paid up to 10s, £7,500; to take existing mortgages as under—Bank of New South Wales, 6 per cent., £16,000; Meredith, C per cent., £1,300; Farmer, 8 per cent., £1,750; Morrin and Co.. "Senator," 8 per cent,. £1,000; Bank of New Zealand, 6 per cent., £i,780-£24,830; balance in cash, £2,G70-£35,000; capital (nominal), £50,000; losa 10s per share on 15,000 shares, £7,500----£12.500; amount to be paid or to represent mortgages, as above, £24,830; to be paid in cash, £2,670— £27,500; surplus available as working capital, £15,000. The proeent 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 £5,000 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 dividond-payingfooting. The present condition of the mine and workings, and an estimate of its immediate prospects, may bo gathered from tho 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 new company. His report is appended to this prospectus, and ie of value as the report of an independant expert in coal mining. The present working is from two seams, the first being at a depth of about 230 ft., and 7ft ■tin. thick, giving a flrst-clasa household coal, and the second at a depth of 275 ft. and 14 ft. thick, from whioh the coal is highly esteemed for steam purposes, and is extensively used by sea-going and coastal steamers, and the local Government railway. Tho demand for both household and steam coals, widely known as "Kamo" coal, has always been greatly in excess of the supply, tho output not having exceed 2,000 tons'per month. This output can bo immediately doubled with the facilities which tho small outlay before roforred to will afford, and can be placed in a roady market at a oost 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 other minerals which will in time provo sources of profit, but in the stores of coal alone, which are proved both as to quantity and quality, there is the assurance of a profitable investment. The greater part of th%« Company's freehold, consists of good agricultural land, and may be leased in small areas for farms.' Several lots have been already so leased, and it is estimated a rental of from £400 to £500 per annum will be received from this source Tho Machinery 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 Inventory to bo seen at tho Company's olllcc, 4, Marino Chambers. AUCKLAND, 15th June, 1887. To the CHAIRMAN ond DIRECTORS of tho KAMO COLLIERY COMPANY, LTD. Gentlemen, In accordance with your instructions I have beeh over, and have thoroughly examined, the whole of the mineral properties and plant of the Kamo Coal Company at Whangarei, and now beg to hand you my report, as follows :— I flr.d that on referring to the plans of your surface properties they consist of 1,747 acres of freehold and 571 acres of leasehold lands, in all about 2,318 acres; the leaseholds being all secured to tho Company for long periods at very moderate rentals. The whole of these properties have already been proved beyond all doubt to contain two very valuable seams of coal; the top seam, 230 feet from tho surface, being 7ft. tin.in thickness of clean coal; and the lower seam, 275 ft. from tho surface, is 14ft. thick of clean coal, there boing 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 oareftu examination of the underground workings, 1 find that the quantity of coalextracted from both seams up to the present time is not more than 120 acres, thus leaving about 2,220 acres of both seams of coal untouched for future operations, which will. I consider, yield (exclusive of faults and small coal) something like 33,000,000 tons of marketable coal; and I am certainly disposed to beliove.that f rom good indications other seams of coal will be found on this property at lower levels, and at no groat depth below ypur present bottom seam. The permanent wjnding and pumping machinery, with all the other plant and appliances now on the Company's property are good, substantial, and in first-class working order, and quite sufficient for an output of coal of from 300 to 400 tons per day. Also the winding and pumping shutte, with all their necessary fittings, and all the underground drives and tram roads necessary for tho conveyance of coal to the bottom of the shaft, are all in perfect working ordor, iihd ready for work at a moment's notice. The only outlay roquired to commence working operations 6n a satisfactory basis is the sinking ot a new and larger ventilating shaft, which can be done at a very moderate cost, and which is rendered necessary by tho Mining Act recently passed by tho Now Zealand Legislature, with some other minor improvements found to be absolutely required to increase the output of coal, which is .necessary to meet the greatly increased demand for tlie Company's coal. The coal can be produoed and loaded into the railway waggons alongside the Company's screons at the colliery at a very moderate cost, and the 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. And, in conclusion, I believe that 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. I am, Gentlemen, Yours faithfully, R. W. MOODY, Mining, Civil, and Mechanical Engineer. J. BUTCHER.] [j. GROOM. XVT E HAVE FOR SALE:Rod and Bar Iron, Wire Nails, Fencing Barb Wire, Roofing Iron, Sash Weights, Buckets Tubs, Springs, and Patent Axles, Coarse and Fine Salt. GROOM, BUTCHER, & CO., FORT-STREET. Telephone 211.] . ft r COSTUMES in Cashmere ar4 /£* Curcloth, trimmed plush and braided: the very latest styles; all cost price.— J, M. McLachlan, 222 Queen Street, *