Page 2 Advertisements Column 1

Auckland Star, Volume XVIII, Issue 152, 30 June 1887, Page 2

Public Notices. EOSPECTUS OF THE KAMO COAL COMPANY (LIMITED). CAPITAL ... ~~~~ ... £50,000; In 50,000 Shares of £1 Each. 2s 6d per Share to bo paid on application Gd on allotment; in three uaonths after allotment Is 3d; in six months after a ; »otment I \A\ . in 12 months after allotment, 2s bd hereafter as required, but no Call to oxoocd 2s bd per Share, Provisional Directors: THOMAS MOHRIN I EDWIN MITCHJELSON K. W. MOODY I IUEKCE IiANIOAN Manager Bankers: B. W, MOODY I BANK OF NEW SOUTH WALES Solicitors: MESSRS. JACKSON AND EUSSEUi Secretary, pro tern.: it. w. moody. This Company is to be formed to purchase from tho Kamo Colliery Company. Limited, their Works, Machinery, Plant, Lands, and Royalties, situate in the District of W haugarei. New Zoaland, and to work the present valuable seams of Coal, Fire Clay, and other minerals which have been already opened up, and otber seams of Coal of very superior quality recenuy discovered on the same lands. _ Tho Property to be acquired consists of 1./47 acres of freehold—6oo acres of which is forest land, affording an unlimited supply of timber for Mining purposes; and 571 acres of leasohold - 250 acres of which are held for a period or. ninety (90) years on payment of a royalty or sixpence per ton. and the remainder tor 11 years, in all 2,318 acres valuable Mineral Lands. Manager's House, Houses for Miners, and Offices are erected on tho freehold. . Tho Machinery and Plant (fnlly 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. Jwo barges, each with a capacity of 150 ions, cost each £550. „ _„. Coal Wharf at Auckland with storage for 500 tons coal, leased from tho Harbour Board at rental of 30s per week. Railway siding at. Kamo connecting the pit, through tho Railway, with deep water constructed by the Company at cost of £1,000. This extensive and valuable property is offered to the proposed new Company for tha sum of thirty-nvc thousand pounds (£35,000)— los»!than half the cost to the present owners. The Kamo Coal Co. (Limited) to pay Kamo Colliery Co. (Limited), £35,000: f/iws—ls,ooo sharos paid up to 10s, £7,500: to take existing mortgages as under—Bank of New South Wales, C per cent...416,000; Meredith, 6 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, £1,750-£21,830; balance in cash. £2,G70-£35,000; capital (nominal), £50,000; loss 10s per share on 15,000 shares, £7,500 - £12.500: amount to be paid or to represent mortgages, as above, £,4,820; to be paid in cash, £2,670—£27,500; surplus available as working capital, £15.000. 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 tlie Government Inspector of Mines, the resources of tho few on whom the burden has fallen not being equal to any further etrain. 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 Mill at once place the mine on adi vidend-payingfooting. Tho present condition of the mine and workings, and an ostimatc of its immediate prospects, may bo gathered from tho report of Mr R. W. Moody, mining engineer, who has recently inspected and thoroughly examined tho property at tho desire of tho promoters of tho new company. His report is appended to this prospectus, and is 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. 4in. thick, giving a first-class household coal, and tho second at a depth of 275 ft and lift, thick, from which the coal is highly esteemed for stoam purposes, and is extensively used by eca-going and coastal steamers, and tho local Government railway. The demand for both household and etenm coals, widely known as "Kamo" coal, bus always been greatly in excess of the supply, tho output not having exceed '2,ooo'tons per ironth. This output can be immediately doubled with the facilities which the small outlay before reforred to will afford, and can be placed in a ready market at a coat to compete with any other coals. In addition to tho vast stores of coal proved to exist in this property, there are valuable clays, iron ore, and other minerals which will in time prove sources of profit, but in the. stores of coal a lone, which arc proved hoih as to quantity and quality, there is the ustsunmco Ota protitablo investment. The groater part of the Company's freehold, consists of good agricultural land, and may be loused in small areas for r -tarms. Several lots have been already so leased, and it is estimated a rontal of from £400 to'£soO'pcT annum will bo received from- thisuource Tho Machinery and other Plant consists.of Winding. I'limplng, and other Steam Kiiklucs, Steam Boilers, Coal Skips, a largo quantity of Tramway llntls. 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 be seen at the Company's ouicc, i, Marine Chambers. AUCKLAND. 15th June, 1887. To tho CIIAIR3VTA N nnd DIRECTORS of the KAMO OOLJjLEKY COMPANY, LTD. Gentlemen. In accordance with your instructions 1 have been 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 :— Iflnd that on roforriiiK to tho plans of your surface properties they consist of 1,747 acres of freehold and 571 acres of leasehold lands., in all about2,3lßacres; tho leaseholds being all secured to tho Company for long periods at very modorato rentals. The whole of these properties have already been proved beyond all doubt to contain two very valuable seams of coal; the top scum, 230 feet from the surface, being 7ft. 4in. in thickness of cloan coal; and tho lower scam, 275 ft. from the Burfaco, is 14ft. thick of. clean coal, there being no bande or refuse whatever in either seam, which is a groat advantage in securing the marketable coal in a perfectly clean condition. And, by a careful examination of the ■underground working.*, I find that tho quantity of coal extracted from both scams 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 (oxclusivo of faults and small coal) something like 33.000,000 tons of marketable coal; and I am certainly disposed to bcliovo that from good indications other scams of coal will be found on this proporty. at lovvor levels, and at no ■great depth below your;present bottom scam. 1 Tho permanent winding and pumping machinory, with all tlio other plant and appliance? now on tho Company's property are good, sub- , stantial, and in first-class working order, and quite sufficient, for an output of coal of from 300 to 100 tons per day. Also the winding and pumping shafts, with all thoir necessary fittings, and all the underground drives and tram roads necessary "for the conveyapce of coal to the bottom of tho shaft, arc all in perfect working order, and ready for work at a momont's notice. Thoonly outlay required to commence working operations on a satisfactory basis is the sinking of a new and larger ventilating shaft, wiiich can bo done at a very moderate cost, aud which is renderod necessary by the Mining Act recently passed "by tho New Zealand Legislature, with some other minor improvements *foxmd to bo absolutory required to increase the output of coal, which is necessary to meet the gz-eatly incrcaseddemand for the Company's coal. Tho coal can bo produced and loaded into the railway waggons alongside the Company's screens 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 Knmo Coal Company. And. in conclusion, I Tseliove that Trim perfeotly safe in stating that the Kamo Colliery speculation will prove to be one of the safest, investments of the kind in tho Australasian Colonies. I am, Gentlemen, Youi» faithfully, R. W. MOODY, Civil, anfl. Mechanical Engineer. HOBE E, T SE W, J In gratefully acknowledging the liberal patronage 6f his customers since the establishment of the City Tea Mart, takes this opportunity of stating that in order to moet the growing tendency of late towards SHORTER CREDITS AND CASH PAYMENTS, has arranged to give his customers the full benefit of this system. R. R. therefore begs'to intimate that a substantial reduction will be made on all goods paid Cash. The price thus reduced wi'l bear favourable comparison with any of the wholesale houses or local cash, establishments. The high, quality of goods, which has been a leading feature in this business, will always be maintained. R. RE VV trusts that his readiness to adapt his business to the requirement of the day will meet With the approbation and increased sufpnrt of, his customers. ■ :, Viotoria-Btreet, June 23,1KV.