Page 4 Advertisements Column 2

Daily Telegraph (Napier), Issue 3786, 3 September 1883, Page 4

Prospectuses. PROSPECTUS —OF THE — KELLY'S TERRACE GOLD MINING —AND — WATER RACE COMPANY, limited, stafford toavn. to be registered under "the mining company's act, 1872." CAPITAL £15,000 —IN— FIFTEEN THOUSAND SIIARES OF £1 EACH, 12,000 of which are noAV offered to the Public at par: the remaining 3000 fully paid-up to bo given to the present Proprietors for their interests, comprising rights to head-race, dam site, tailrace, and a special claim of £50 acres. Provisional Directors : JonN M'AViiirteb, County Chairman of AVestland. J. Holmes, Proprietor Okuku AVater-race. J. Gibson, Manager Humphreys Gully United Goldmining Company and Ross United Gold Mining Company. W. G. Jotinston, Director Humphreys Gully United Gold Mining Company, and Ross United Gold Mining Cornpan a-. R. C. Reid, J.P., Hokitika. B. Lyons, Stafford ToAvn. W. M'Kay, Hokitika. T. Kerr, County Engineer of Westland. J. Broavn, Auckland. E. T. AVhitten, Ballarat. AY. F. AVilkinson, Hokitika. T. Cooke, Hokitika. E. F. Rich, J.P., Hokitika. Jas. Craio, Oamaru. R. Bleazard, Auckland. Manager : W. A. Spence, Hokitika.

THE present Company is being formed for tho purpose of Avorking the ground knoAvn as Kelly's Terrace, of which a special claim of 50 acres lias been obtained, which is situated in the Avell-known auriferous diggings of the AVaimca district. In the early days of the West Coast many shafts Averc sunk upon this ground to depths varying f rom GO to 130 feet, but inconsequence of the great amount of underground water, and no drainage tunnel being constructed to carry it away, these shafts had to be abandoned. About 30 shafts in all were put down, some of Avhich could not bottom, AA-hile others bottomed with excellent results. Notwithstanding these drawbacks, the richness of the ground avus sufficiently tested, and the Provisional Directors have taken care to collect reliable information as to the gold actually obtained. Many of the miners who worked the ground are still in tho district, and numbers of parties who Avere fortunate enough to sink in the drier portions of tho terrace Avere enable! to work for a time, and obtained highly payable returns, but the claims could not be further Avorkcd oAving to the Avant of capital to bring in a permanent tail-race at sufficient depth to drain the ground. From the above facts it Avill be seen that the ground has been thoroughly proved, and merely requires draining to be profitably Avorkcd, and in order to do this, it is proposed to construct a drainage tunnel from tho Waimca Creek to flic ground, Avhich Avill thoroughly drain tho terrace, as ascertained from levels taken by a GoA'crnmcnt Engineer. Tho Directors have secured a valuable Avater-right of 20 Government heads, lifted from Fox's Creek, which, in conjunction Avith an excellent site for a large reservoir, Avill give a supply more than ample for the Company's requirements. The surplus Avatcr can be disposed of to miners Avorking outside the Company's ground, at most profitable rates, Avhich in itself Avill be of a highly rcmuncrati\-c nature. The race can be easily and cheaply constructed, as from the nature of the country through which it Avill pass, no tunnelling or fluming Avill be required, but merely open ditching in flat ground and on sidlings. The folloAving is the estimate for constructing head-race, drainage tunnel, Sec : Drainage Tunnel £2000 Head-race and Dam 2500 Plant 1500

£0000 As the ground through which tho drainage tunnel will run consists principally of blue reef (which is dry), and as it is the intention to sink shafts along the lino of race simultaneously, it is expected that this work will bo completed within five months. The promoters have agreed to dispose of all their rights and interests in the water rights and mining lease, in consideration of thoir receiving 3000 fully paid up shares in the projected Company, and guarantee to .subscribe as contributing shareholders for at least an crpial number. Attached hereto is a plan shewing position of the claim, tail-race, and surrounding gold workings. As a great many shares havo already been taken up, applications for shares must be sent in to tho Manager, AVharf street, Hokitika (from whom forms may be obtained), on or before MONDAY, tho 3rd of September, after which date the Share List will be closed. A deposit of sixpence per share to be made on application and one shilling on allotment, future calls not to exceed sixpence per share per month. W. G. MOTLEY Broker. THE MIKONUI WATER RACE AND GOLDMINING COMPANY (Limited). (To be registered under tho Mining Companies Act, 1872.) Capital .. .. £30,000 In thirty thousand Shares of £1 each, 20,000 cif which are now offered to the public. The present owners having agreed to hand over various A .i limbic Properties for the sum of £2000 to be paid by tho proposed Company in instalments spreading over a period of eighteen months, and 4000 fully paid up shares, tho owners binding themselves to tako a similar number of contributing shares in the new Company. 'A cash deposit of sixpence per sha.te _o be made on application, aud ls por share on allotment, calls not to ex'eced sixpence per month. An influential Board of Provisional Directors has been appointed, including Mr E. Patten, J.P., of Napier. Manager, pro. tern., AVilliam Duncan, Hokitika. rpHIS Company is formed for the purpose X of purchasing the lease of 70 acres of what is anticipated will turn out to be rich alluvial land, also of various water rights. From the Mount DOr Company's claim, which forms the eastern boundary, 4bbo ounces of gold were taken from a bottom area of 1-J- acres. This Company havo sluiced as far as they can in this direction, and have only been stopped by tho boundary line of tlie proposed Company's ground, and a late washing at this boundary gave the handsome return of 240 ounces. In conclusion the Directors recommend the proposed Company to the notice of investors with every confidence, and believe that the water race alone will return satisfactory dividends. Prospectuses and all further particulars may be obtained from the Hawke's Bay Broker, ROOPE BROOKING.. August 16th, 188 a. Sales $*y Mr Garner. ■PEANE W pAKNEE,

Accouksant, Valuator, Land, Estate, Gen .rax and Financial Agent. Sharebroker, Certificated Accountant in Bankruptcy, Licensed Broker under the Land Transfer Act. Transfers, Leases, Mortgages, and Titles to Land, under the Land Transfer Act prepared cheaply and promptly. Money Collected and Estates Managed. Invested. Loans Negotiated. Insurances effected. Office:—Tennyson-street, Napier; adjoining Messrs. Banner and Liddle's. Sales I»y Woo it & Co. T npHOMAS & f .0., Auctioneer, Land, General and Commission Agents. Rents and Debts Collected. Sales held either in Hastings or Surrounding Districts. ZEALANDIA BOOTS.—Quality Guaranteed at E.- AY. KNOAVLES' Boot t AVurehousc, Hastings-street.