Page 2 Advertisements Column 1

Auckland Star, Issue 153, 1 July 1887, Page 2

Public Notices. PROSPECTUS OF THE KAMO COAL COMPANY (LIMITED). CAPITAL ... £50,000; In 50,000 Shares of £1 Each. 2s Gd 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 esceed 2s Cd per Share. Provisional Directors: THOMAS MORRIX I EDWIN MITCHELSON R. W. MOODY I PIERCE LANIGAN Manager: Bankers: R. W. -rfOODY | BANK OF NEW SOUTH WALES Solicitors: MESSRS. JACKSON AND RUSSELL Secretary, pro tern.: E. w. MOODY. This Company is to be formed to purchase from the Kamo Colliery Company, Limited, their Works, Machinery, Plant, Lands, and Royalties, situate in tho 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 recently discovered on the samo lands. Tho Property to be acquired consists of 1,747 acres of froehold—6oo acres of which is forest land, affording an unlimited supply of timber for Mining purposes; and 571 acres or 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 a1U2,318 acres valuable Mineral Lands. Manager's House, Houses for Miners,.and Offices are erected on the freehold. The Machinery and Plunt (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. Two barges, each with a capacity of 150 tons, cost each £550. Coal Wharf at Auckland with storage for 000 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 offered to the proposed new Company for th 3 sum of thirty-live thousand pounds (£35,000)— lessltlian half the cost to tho present owners. The Kamo Coal Co. (Limited) to pay Kamo Colliery Co. (Limited), £35,000: t/ms-15,000 shares paid up to 10s, £7,500: to take existing mortgages as under—Bank of New South Wales, 8 per cent., £10,000; Meredith, 8 per cent., £1,300; Fanner, 8 per cent., £1,760: Morrln and Co., " Senator," 8 per cent,. £1,000; Bank of New Zealand, 8 per cent., £4,780-£21,830: balance in cash, £2,670—£35,000; capital (nominal), £50,000; less 10s per share on 15,000 shares, £7,600----£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 proporty, has recently been reluctantly compellod to Buspend operations owing to want of capital to meet tho requirements of the Government Inspector of Mines, tho resoutces of the few on whom the burden has fallen not being equal to any further strain. A sum of from £5,000 to £6,000 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 adividend-payingfooting. The present condition of the mine and workings, and an estimate of its immoilate prospects, vnay pc 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 tho now company. His report is appended to this prospectus, and is of value as tho report of an independant expert in coal mining. _ ■■ The present working is from two seams, the first being at a depth of abont23oft.,and7ft. 4in. thick, giving a first-class household coal, and the second at a depth of 275 ft. and lift, thick, from- which the coal is highly esteemed for steam purposes, and is extensively used by sea-going and coastal steamers, and the local Govcrmiientrailway. Tho demand for both household and steam coals, widely known as "Kamo" coal, has always been greatly in excess of the supply, the output not having exceed 2,000 tODS per month. This output can bo 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 other minerals which will in time prove sources of profit, but in'he storc3 of coal alone, which are provod both as to quantity and quality, there is the assurance of a profitable investment. The greater part of the Company's freehold, consists of good agricultural hind, and may be leased in small areas for farms. Severnl 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 nnd othor Plant consists of Winding, Pumping, and other Steam Engines, Steam Boilera, 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 be seen at the Company's office, 1, Marino Chambers. AUCKLAND, loth June, ISB7. To tho CHAIRMAN nnd DIRECTORS of the KAMO COLLIERY COMPANY, LTD. Gentlemen, In accordance with your instructions I have boon over, and have thoroughly examined, the whole of the mineral properties and plant of tho Kamo Coal Company at Whangarei, and now bog to hand you my report, as follows :— I'flr.d that on roferring 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 the Company for long periods at very modorato rentals. Tho whole of those properties have already boen proved bovond all doubt to contain tiro very valuablo scams of coal; the top seam, 230 feo. from tho surface, being 7ft. 4in.in thickness of clean coal; and the lower seam, 275 ft. from the surface, is 14ft. thick of clean coal, there being no bands 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 tho underground workings, 1 find that the quantity of coal extracted from both seams up to the prosent time is not more than 120 acres, thus leaving about 2.220 acres of both scams 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 believe.that from good indications other seams of coal will be found on this property at lower levels, and at no great depth below your present bottom seam. The permanent winding 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 ouito sufficient for an output of coal of from 300 to 400 tons per day. Also tho winding and pumping shafts, with all thoir necessary fittings, and all the underground drives and tram roads necessary for the conveyanco of coal to tlio 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 the sinking of a new and larger vontilating shaft, which can be dono at a very moderate cost, and which is rendered noccssary by tho Mining Act recently passed by the New Zealand Legislature, with some other minor improvements found to bo absolutely required to increase the output of coal, which is necessary to meet the greatly increased demand for the Company's coal. Tho coal can be produced and loaded into the railway waggons alongside the Company's screons at tho 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 I am perfectly safe in staling that the Kamo Colliory 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. T TT ° w D E N > WATCHMAKER AND JEWELLER, QUEEN-STREET, Has now convenience for making and repairing of Jowollery and for the repairs of every description of Watches, Chronometers, &c, fee, and to further increase his repairing and manufacturing department, he is disposing of the remainder of his PIANOS at and under cost. Persons having old gold jewellery can have it made up into new and fashionable articles to order, and all the better class of watches aid chronometers receive his personal supervision * Ilotheiiiams' Genuine English Lever* in stock.