Page 4 Advertisements Column 3

Evening Post, Volume XXXVII, Issue 111, 11 May 1889, Page 4

PROSPECTUS OK THE ONSLOW GOLD MINING AND PATENT MACHIN'K MANUFACTURING COMPANY, Limited. To be Incorporated and Reeisterpd under "Tho Companies Act, 1882." and, if ncreß»ary or expedient, under ' The Mining Companies Act, 1886." Capital, £25,000, in 25,000 shares of £1 each. Provisional Directors : Barry, A., Settler, Roxburgh-street Bowley, A. A., Tobacconist, Cuba street Covenev, T. P , Storekeeper, Ingeatre-atreet Crots, J , Builder, Arthur-street Davison, J. H., Sawmiller, Victoria-street Kvendon, R. E., Builder, Johneonville Harrison, H., Dairyman, Cuba-ftreet Haaelden, H. C, Stationer, Cuba-street Mitchell, F., Architect, Abel Smith-street Oughton, L , Builder, Webb-Btreet Piko, W., Coromeroial Traveller, Wellington Salmon, J. A. N., Acoountant, Brandon-street Treanore, J. D., Accountant, Wellington Tyer, H., Engineer, Ngahauranga Wataon, W. C, Builder, Adelaide-road Weatbrook, W., Painter, Westport Williama, A., Blackamith, Courtenay-place Winton, J. 8., Storekeeper, Cubaatreot Bankers : Bank of Australasia (Wellington) and Branches. Solicitors : Moaars. Chapman A FitzGerald. Patent Agent and Consulting Engineer : Henry Hughes, M.I.M.E. Secretary : John Denny Treanore (One of the Directora, who will act as Secretary pro tern.) Office of the Company : No. 1, Lambton-quay (opposite Bank of New Zealand). Brokers : D. T. Stnart, A. Warburton & Co., and Harcourt & Co., Wellington. Calls : 28 6d per Share on application ; 2s 6d per Share on allotment ; 2s Cd per Share first month ; la per Share per month afterwarda. The Compant is being formed for the following purposes :— First : The purchase from the Promoters of patent rights for New Zealand only in an invention kuown as " Evbn den's Gold Gleaner." Second : The manufacture and sale of " Evenden's Gold Gleaners." Third : The completion of purchase of the several Gold Mining Claims as per following lint, the benefit of which ia to be assigned to the Company. Fourth : The working of the above-men-tioned gold mining claims to the beat advantage. The promotera have made arrangements with R. K. Evenden that, if tho Company bo formed, the benefit of all the undermentioned oontrantß, offers and applications shall be transferred to the Company, if required, namely: — 1. A contract with one William Riding to sell: (a) Sections 4 and 5, Blook V.. Kawatiri, freehold containing 50a {1) Section 3, Block V., Ngakawau, agricultural leasehold, oontaininir 25<i lr 4p (c) Seotion 36, Block 11. , Kawatiri, containing 80a Or 24p The vendor has agreed to sell, if required, within four months from the 27 th Fooruary last, for tho sum of J62000. 2. A oontract with the paid William Riding, Thomas Mulligan, William Tavei'dale, Robert Franois Mullen, and Elizabeth Harriett McFarlane to soil a special claim of 39 acres, and 10 heads of wat r, for .£SOO, if required, within four months from the 20th February last. 3. A coutraot with William Dames to sell, if required, a special claim of 40 acres, with wator rights for jei6oo, .£IOOO cash and ,£(i00 shares. The vendors agroe to sell within four months from 26th February. 4. An offer by the shareholders of the Big Dunedin and l{ob Roy Companies to sell to R, IS. Evenden tho interests of tho two companies, thoir auriferous land, under special claim, consisting of about 80 ncres, for the sum of JECOO. Tbe voiidors agreo to sell within four months from the Ist March. 5. A contract with F. Hay, John Gilmer and another to sell, if raquired, Section 2, Block 11., Ohika District, containing 21a Or 34p, within four months from tho 28th February, 1889, for the sum of £250. 6. Sixry acres on Waite's, Pahiki, auriferous sand, applied for as a special claim by R. E. Evendon. This claim is survoyed and tenders called for construction of dams. 7. Fifty aores at Waimongaroa, auriferous sand, applied for as a special claim by R. E. Evenden. Remarks on the auriferous Ground Under Offer. No. 6. — Thia ia bolieved to have every advantage desirable for the economioal working of the auriferous sand by "Evenden 'a Gold Gleaner." There is a lead of auriferous sand, about half-a-mile long, and about two chains wide, running through the claim. At nine feet deep this measurement would give a total of 116,160 yards. An assay of this by Mr. Skey, tho Government Analyst, gave a result of ldwt. 19gra., or a supposed gross valuo of JJ40.156. As the estimate for working this claim is a total cost of Gd por cubic yard, it would show a possible return of ;637,277 for plant and profit to Company. Noa. 3 aud 5 Claim.— Tho olaims of 40 acres to be purchased from Mr. Dames, and the adjoining one, No. 5, of about 20 acr-s, to be purchased from Mr. Gilmer, Mr. Hay and another, are at a good olovation, and composed of a bank of soft, friable, cementlike sand, and the longth, roughly measured, is about 60 chains, soven chains in width, and fifteen feet thick. This can be worked from the surface, and Drought down by tho pick, and does not, like a reof, require costly drives, tunnels, and shafts, and it is es'imated that tho entire cost of preparing the atuff for tho Gleaner will not exceed 2a per cubic yard. An assay from these claims, by Mr. Skey, shows a result of tidtvt. 3grs , and, supposing this avorage to ho maintained, the gros* possiblo yield is thus estimated at a very large snm. Our representative at Westport, in his snpplementary report, states as follows :— "I am suro tliero is muoh better cement than wo could got, to send you, but if it averages 6dwt. Sgrs. t~> the ton, the two claims mean nearly a million and a half of money for us. I would rather have one share in this claim than half a dozen in any other I know of in the district." iio. 4. — Mr. R. A. Young, C.E., writes aa follows !— Westport, 11th March, 1889. " Mr. R. !E. Evendbn. 11 Dear Sir,— l am in recoipt of your telegram of 6th instant, requesting me to poet ftketah and full details of prospects of claim. Enclosed please reoeive tracing showing claims. " The result of prospecting done previously were too uncertain to be of any value, although sufficient to convince shareholders that the ground was rich. Tho borings taken bad been partially panned off and mixed, and it was not known oxactly what weight of material the reaults were obtained from. The result was 12dwt 14gra to the ton of material submitted to test. On receipt of your telegram we sent a man out with boring apparatus to get a few poundsof material from fresh boring. The bore was put down about poaition A, shown on sketch plan. The ; boring showed firßt 4ft of surface material, then from 4ft to lift of black Band, and then a stratum of groy sand and shingle, carrying a little gold, down to 20ft, total depth tried. The samplo taken was from about middle of the 7ft of blaok sand. Two pounda were weighed out and panned off, and tested by the dry process by Mr. Boss, in the School of Mines. The result obtained for the two pounda waa '0588(^8, or 3dwt 4gra to the ton. Of course, the finest of the gold was lost through tho panning off. There ia great probability of gold at deeper level of thiß ground along foot of terrace. •' I am, dear sir, " Yours truly, " (Signed) R. A. Young, C.E." Nob. 1, 2, and 7.-- Mr. Young's remarks also apply to theso aeotiona to a curtain extent. The vast auriferous deposits of ; black sand have never yet bee^ touched by the hand of man for want of suitable appliances, and the extent, quality and depth at which these leads can be found is to-day an unknown item in tho_ wealth of New Zealand. They are 1 , it is bolieved, practically inexhaustable, as at Ross blaok sand, oarrying gold, is found at a depth of about 200 ft. This one significant fact is to be borne in mind, that bench combers havo for years, and 'with tho moat primitive appliances, workod on the sea frontage in this district, and in some oases h*ve accumulated fortunes. The above land is all supposed to bo auriferous, and suitable for working by "Evbndkn's Gold Gleaner.". From the preceding statement of assets, intending investors will be able to see that there is a reasonable prospeot of good profits if a proportion of tbe gold ia saved, while if the new machine answers the expectations formed from its experimental working, all the gold will be saved at a very low cost, in which ease the profits will bo very large indeed, It ia bolieved the right to manufacture nnd sell the machine, called " Eyenden's Gold Gleaner," will bo a source of large profita to the Company. The value of this invention can bo gathered from the opinions given herewith. The following are tho terms upon whioh tbe Company secures tho?e rights i— The inventor ond promoters are to receive the sum of £62100 in cosh, payable by instalments extending over a period of six months, thua :— First payment, on or before 18th day of June, 1889, .£3050 ; second payment, I lßt July, £1050 j third payment, Ist ! September, £1050 ; fourth ptyyqisnt, Ist November, £1050 j and £2JOO fully paidup abates in tyie company, for the pnrohase of all righta in New Zealand over the patented machine, and all improvements thereof to be made by the inventor within 14 years from the 20th day of April, 1889, and the balance, £16,100, after paying the preliminary exponaeß and purchase money of the auriferous laud under off or, will be available for the development of the company's business. The agreements aboye specified between R. X, Eyepden and tho owners of the land, Ac, are tp be completed at the company's expense, Bhonld tho compapy elect to take tho benefit thereof, With reapegt to the " Gold Gleaner," itself, ita particular merit ia that it saves practioally all the very fine gold which ia lost by other processes. It iB believed by experts that the amount co lost constitutes a yery large percentage, of thoto'aleoWin tho auriferous eayth operated on. Teats have been made and have been eminently successful. The remit of the teats ia stated in tbe Bheet aocompanyiug tho prospectus, aIBO the opinions of competent persona aa to the working of the machine. The Company will pay all the preliminary expenses incidental to the floating thereof, inolnding brokerage, commission, advertiaintr, printipg, and aH other costs in oonnection therewith. Prospectuses and forms of application can