Page 13 Advertisements Column 1

Press, Volume LX, Issue 18015, 6 March 1924, Page 13

{Ceen Demand for Shares in Horley Collieries Ltd. A REMARKABLE response has followed the announcement of the flotation of lylorley Collieries, Limited, Southland. Investors have been quick to realise that this to develop 2,400 coal-bearing acres of the Birchwood Estate offers the first opporpftject ® orc jinarv investor after forty years' private successes to share in* a PUBLIC tumty i° r u ... couip Q p en j n g s lip. Enquiries are pouring in, and applications for shares have been C vii this favored coalfield. They know it may never be repeated, and they are not letting on |y from Southland, Otago, and Canterbury, but from investors as far 3« Wellington - Down The bare facts of the proposition are as follow: profit of 22 per cent. —income tax allowed for. But since only 95,000 Shares are being issued, on which the estimated call up is not more than 10/- to 15/'- in the £l, 30 per cent, profit represents a conservative* estimate. m Southland there is a 7,000na |field estimated by Professor Park, 'fotago University, to contain within 320 ver 14,000,000 tons of proved hard ***' °and P'tcb coal, and on both sides of area a coal tonnage running into SCORE MILLION. a leaping demand. Private mines on this Coalfield have JtmeA in output by leaps, and bounds. 1 1018 the demand reached 17,463 tons; J1923 this had increased to 136,876 tons. * DEVELOPING 2,400 ACRES OF COAL-BEARING LAND. This is the field of which the Morley Collieries, Ltd., propose to develop 2,400 2 comprising allotments 13, 14, 15, 16, 17 18, |9, and 22 of the Birchwood Estate. ' But they are not relying on one report I , Professor Park's findings have been Mitfinned by Mr. Walter Leitch, Mining Fnrineer of wide Australian and New ZeabXexperience, ««I by Mr. A S landers, one of the Managers of the N.Z. Coal and Oil Company's Kaitangata Mine. SEAMS TO 30 FEET THICK. Separate reports by these gentlemen w that the Birchwood Estate extends over two valleys or basins, the Ohai and the Orauea, underlying which are three thick earns. In the Ohai Basin, the upper seam B 4to 13 feet thick; the middle seam 9to 30 feet thick; the lower 7to 9 feet thick. In the Orauea, the upper seam is 1 2 feet thick; middle seam 28 feet, and the lower seam 9£ feet thick. 26 bores prove the continuity uf the seams. 24 bores range from 50 to feet in depth; and one in the Orauea (ouches 1,179 feet. NO SHAFTS TO SINK. No shafts are needed to develop the jams. The three experts separately recommend the tunnel system as practical, and of course more economical. Transportation praents an easy problem. The Ohai railnj is alongside the property. 30% ESTIMATED PROFIT. ■ On a basis of £120,000 capital, and calculating for an output of 75,000 tons of coal per annum, Mr. Leitch has estimated-a net FIRST OPPORTUNITY OFFERED PUBLIC IN FORTY YEARS. In offering shares to the public, the Morley Collieries, Limited, presents an opportunity to the ordinary investor never before submitted, for all the adjacent mines in the Birchwood Estate are either private Companies or privately owned. £l shares of one of the mines in the vicinity have sold for £4 each by Public Tender. A SOUND DIRECTORATE. The Provisional Directors of the Morley Collieries, Ltd., are men you know:—W. D. Hunt, Esq.; R. J. Gilmour, Esq.; C. J. Brodrick, Esq.; D. W. McKay, Esq.; Hon. A. F. Hawke, M.L.C.; P. H. Vickery, Esq.; Dr. J. Garfield Crawford; Wm. Macalister, Esq. These gentlemen and their friends reserved over 16,000 shares before the prospectus was even issued. TWO CLASSES OF SHARES. Shares are offered to both classes of Investors—2o,ooo 7 per cent. Cumulative Preference Shares of £ 1 each for the investor who prefers a. definite yield and a larger margin of safety; and 75,000 Ordinary Shares on thp following terms:—Preference Shares, 3/- per Share on application, balance on allotment. Ordinary Shares, 3/per share on application, 2/- per share on allotment, balance as may be required in calls of not more than If- per share per month. * PROSPECTUS, MAPS, PLANS. Write for prospectus containing reports on the property, maps and plans for workings. Use the coupon below. „ Prospectus obtainable from any member of a Stock Exchange affiliated to the Stock Exchange Association of New Zealand; any branch of the National Bank of New Zealand, Ltd., or.. the Company's Interim Secretary, Mr. Ta«« A..t R. B. Caws, Dee St.. y' *W Ullt , Invercargill. >' this Coupon: y To the Secretary: Mr. R. B. CAWS, Dee Street, Invercargill. Please send me Prospectus of MorleyCollieries Ltd. And, New Zealand. Name. Address.., UDQM (Write plainly please)

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