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MCSCSCiLANBOCTS. THE KAITANGATA COAL MININk; COMPANY, to be Incorporated nnder, the Mining Companies Limited Liability Act,;: 18657 and amendments thereof. Capital, £10,000; in 1000 Shares of £10 each. 10s : per share payable on application, and 20s per share on allotment. The remainder of the Capital will be called up as required. No call to exceed 20s per share, or to be made at less intervals than two months. S 7 Provincial Directors : — Messrs David Maitland, Jame3 Davidsdn, William Aitcheson, John M'Neil, and Fitzclarence Roberts. Secretary, pro. tcm., Robert Grigor. 1 PROSPECTUS. The establishment of this Company is proposed to meet; the .rapidly .increasing demand for Kaitangata Coal, which cannot be done with the limited capital at the disposal of the present proprietors. _ J The Company has made provisional arrangements with the freeholder and present leaseholder on most favorable terms, viz., a mineral lease of 913 acres, more or less, for 21 years (which period might be extended if expedient at the first meeting of*the Company), together with timber on said land, the proprietor reserving for himself the right of grazing and cultivation thereon, and sufficient timber for his own use. 1 No claim will be made by the proprietor as compensation for damages of whatever description "caused by workings, or roads to workings. The rental to be a royalty of ls per ton from the formation of the Company* One year after formation of said Company, £100 per annum will be chargeable in the event of the royalty not amounting to that sum. The workings at present leased, wliich the Company proposes to buy are, the mine, with openings, sufficient at the present time, without further outlay, to produce 25 tons per day ; the profits of which alone, after a careful calculation of working expenses, would amount to £20 per week ; plant, consisting of a tramway of 23 chains in length in full working order, connecting the mine with the river bank; a substantial jetty, sufficient for present • requirements, 6 waggons, tools, &c, &c. The workings, as far as they extend, are fully developed. In immediate proximity to the head of tramway, a fresh mine can be opened, which will be as easily worked, and will increase the supply and profits of the company. The coal at present worked is from 4 to 8 feet thick, and can be delivered at the mouth of the mine by the miners, under contract, at 5s per ton, the selling price in Dunedin being 35 s per ton. The adjoining land has been prospected, and coal of the same quality found distributed over it. The price to be paid to the present leaseholder is £700, of this amount the vendor will take £350 in fully paid up shares of the Company, the balance in cash. The Secretary has an agreement with the proprietor and leaseholder embodying terms of prospectus. The Harbor Company have tested this coal, and find it suitable for all the purposes of the Harbor steamboats. The Bkuce Herald says — " We are glad to learn that the trial of the Kaitangata coal for steampurposes has given every satisfaction Although for some purposes not equal to Newcastle, for steam the heat is greater, and the consumption very little in excess. Considering the difference in cost, a splendid home trade must follow, thus very shortly | resulting in that busy future which we pre- j dieted would result from the discovery." The quality of this coal is acknowledged by competent judges to be unsurpassed for household purposes, The Company will have the opportunity of securing the services of the leaseholder, who is a coal miner of great practical experience. As there is a want of sufficient and regular communication with Dunedin, where there is a good market for a very large quantity of this coal, the Company intends, if expedient, to purchase a vessel, with large carrying capabilities, and light draught of water, suited to the trade between Kaitangata and Dunedin. The leaseholder, Mr John Thomson, and the proprietor, Mr William Aitcheson, will be happy to show intending investors over the land and works. Applications for shares to be sent to the Secretary, on the accompanying form (address Balclutha). Applications will be taken in the order they are received, and allotted accordingly. ......* Where no allotment is made, the deposit will be returned in full. Directors, &c, will be appointed at the first meeting ef the Cempany. Applications for shares will be received by the Secretary up to 20th October, 1872. On three-fourths of the Capital being subscribed, a meeting will be held for the purpose of making preliminary arrangements. Four hundred shares have been allotted to Dunedin, 100 to Invercargill, 100 to Oamaru, and 400 locally, of which number the Secretary has received applications for 300. Early application requested. FORM OF APPLICATION FOR SHARES To the Provisional Directors of the Kaitangata Coal Mining Company. Gentlemen,— I hereby request that you will allot me shares in the above Company, and I hereby agree to accept such shares, or any less number that may be allotted to me, and also to pay all future calls that may be made thereon. I beg to enclose £ A deposit on application for shares. Name in fu11..... Re5idence........... ..... 7... Profession or 0ccupati0n............ -, Dated this day of 1872. FAEMEES' ARMS HOTEL, A ' BALCLUTHA. .7' JO H N,. f BA, R R Proprietor. Billiards— Stabling. Wines, Spirits, and Ales of Best Brands. TUAPEKA AGENCY. "iy/TR L. C. HOLMES has been appointed Agent for this Newspaper in' Lawrence, and is authorised to receive Subscribers Names and Advertisement^ for' insertion.'

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https://paperspast.natlib.govt.nz/newspapers/BH18720925.2.5.5

Bibliographic details

Bruce Herald, Bruce Herald, Volume VI, Issue 437, 25 September 1872

Word Count
926

Page 2 Advertisements Column 5 Bruce Herald, Volume VI, Issue 437, 25 September 1872

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