Page 4 Advertisements Column 3

Daily Telegraph (Napier), Issue 3787, 4 September 1883, Page 4

Bankruptcy. IN BANKRUPTCY. In the Partnership Estate of Routledge Kennedy & Co. A DIVIDEND in the above Estate will be paid to all Creditors who have proved their Claims against the Partnership on MONDAY, September 10, ISS3, at the Bank of New Zealand, Napier. Dated August 24, 1883. Mr. F. W. GARNER is authorised to collect all debts still outstanding, and his receipt will be a sufficient discharge of the same, on account of the above Estate. T. W. BALFOUR, Trustee. Prospectuses. PROSPECTUS —OF THE — KELLY'S TERRACE GOLD MINING —AND — WATER RACE COMPANY, LIMITED, STAFFORD TOWN. TO BE REGISTERED UNDER '' THE MINING COMPANY'S ACT, 1S 7 2." CAPITAL £15,000 • —IN FIFTEEN THOUSAND SHARES OF £1 EACH, 12,000 of which are now offered to the Public at par: the remaining 3000 fully paid-up to be 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 : John M'Whirtek, County Chairman of Westland. J. Holmes, Proprietor Okuku Wntor-race. J. Gibson, Manager Humphreys Gully United Goldinining Company and Ross United Gold Mining Company. W. G. Johnston, Director Humphreys Gully United Gold Mining Company, and Ross United Gold Mining Company. R. C. Reid, J. P., Hokitika. B. Lyons, Stafford Town. W. M'Kay, Hokitika. T. Kerr, County Engineer of Westland. J. Brown, Auckland. E. T. Whitten, Ballarat. W. F. Wilkinson, Hokitika. T. Cooke, Hokitika. E. F. Rich, J.P., Hokitika. J as. Craig, Oamaru. R. Bleazard, Auckland. Manager : W. A. Spence, Hokitika. I~MIE present Company is being formed . for the purpose of working tho ground known as Kelly's Terrace, of which a special claim of 50 acres has been obtained, which is situated in the well-known auriferous disrfdng-.-; of the ~\Vn.imca district. In the early days of the West Coast many shafts were sunk upon this ground to depths varying from 00 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 wore put down, some of which could not bottom, while others bottomed with excellent results. Notwithstanding these drawbacks, tho richness of the ground was sufficiently tested, and the Provisional Directors have taken care to collect reliable information as to tho gold actually obtained. Many of tho miners who worked the ground arc still in tho district, and numbers of parties who were fortunate enough to sink in the drier portions of tho terrace were enabled to work for a time, and obtained highly payable returns, but the claims could not be further worked owing to the want of capital to bring in a permanent tail-race at sufficient depth to drain tho ground. From the above facts it will be seen that tho ground has been thoroughly proved, and merely, requires draining to bo profitably worked, and in order to do this, it is proposed to construct a drainage tunnel from tho Waimea Creek to tho ground, which will thoroughly drain tho terrace, as ascertained from levels taken by a Government Engineer. The Directors have secured a valuable water-right of 20 Government heads, lifted from Fox's Crook, which, in conjunction with an excellent site for a large reservoir, will give .a supply more than ample for the Company's requirements. The surplus water can be disposed of to miners working outside the Company's ground, at most profitable rates, which in itself will bo of a highly remunerative nature. The race can be easily and cheaply constructed, as from the nature of tho country through which it will pass, no tunnelling , or fluming will bo required, but merely open ditching in flat ground and on sidlings. The following is tho estimate for constructing head-race, drainage tunnel, &c. : Drainage Tunnel £2000 Head-race and Dam 2500 Plant 1500 £0000 As the ground through which the drainage tunnel will run consists principally of blue reef (which is dry), and as it is the intention to sink shafts along the line of race simultaneously, it is expected that this work will be 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 their receiving 3000 fully paid up shares in tho projected Company, and guarantee to subscribe as contributing shareholders for at least an equal number. Attached hereto is a plan shewing position of the claim, tail-race, and surrounding gold workings. As a great many shares have already been taken up, applications for shares must be sent in to the Manager, Wharf street, Hokitika (from whom forms may be obtained), on or before MONDAY, the 10th of September, after which date the Share List will bo 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 the Mining Companies Act, 1872.) Capital .. .. £30,000 In thirty thousand Shares of £1 each, 26,000 of which arc now offered to tho public. The present owners having agreed to hand over various Valuable Properties for tho sum of £2000 to be paid by the proposed Company in instalments spreading over a period of eighteen months, and 4000 fully paid up shares, the owners binding themselves to take a similar number of contributing shares in the new Company. A cash deposit of sixpence per share to be made on application, and Is per share on allotment, calls not to exceed sixpence per month. An influential Board of Provisional Directors has been appointed, including Mr E. Patten, J. P., of Napier. Manager, 2»'o. tern., William Duncan, Hokitika. 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,"4sso ounces of gold were taken from a bottom area of 1-J- acres. This Company have sluiced as far as they can in this direction, and have only been stopped by tho boundary lino of the proposed Company's ground, and a late washing at this boundary gave tho handsome return of 210 ounces. In conclusion the Directors recommend the proposed Company to tho notice of investors with every confidence, and believe that the water race alone will return satisfactory dividends. Prospectuses and all further particulars may bo obtained from the Hawke's Bay Broker, ROOPE BROOKING. August lGth, 18S3. THE BEST AND NEWEST OTOCK OF T)00T S —IS AT— E. W, KNOWLES , TJ O O T T\7" AKEHOUSE , Hastings-street,