Page 7 Advertisements Column 4

Evening Post, Volume LX, Issue 18, 21 July 1900, Page 7

PROSPECTUS OF THE WEST COAST FOUNDRY CO., LIMITED. (To be Incorporated under "Tho Companies Act, 1882," and its Amendments). HEAD OFFiCE-HOKITIKA. CAPITAL ... ... £25,000, Divided into 25,000 Contributing Shares of ONE POUNP (■£!) cacli. Payable— 23 on Application, 2s on Allotment, anil the balance in Calls .not exceeding 2a per Share at intervals of not loss than one month. PROVISIONAL DIRECTORS: Dr. M'KRNZIF,, Wellington Mr. 11. L. MICHEL. Hokitika Mr. ALI'iX. KYLE, Alexandra Mr. J. MANDL, Hokitika Mr. JAMES KEI.MAN, Aloxandra Mr. P. J. PERRY, Hokitika Dr. JENNINGS, Christchureh Mr. A. STEVENSON, Hokitika Dr. TMCHELMAiNN, Hokitika Mr. J. C. BIALFROY, Hokitika. SOLICITOE : T. W. BEARE, Esq., Hokitika. CONSULTING ENGINEERS: MESSRS. BALDWIN & RAYWARD, London, Wellington, Christchureh, and Dunedin. BANKERS: THE BANK OF NEW ZEALAND. INTERIM SECRETARIES : J. D. LYNCH, Hokitika. J. SMYTHE, Christchuroh. BROKERS Ohristohnrch-ARTHUB P. HARPER. I Wellington-BAKER BROS. Auckland- BAKKR BROS. Dunedm-QUIuK & SMITH Welliugton-J. M. HUME | Duuedin -BAKER BROS. TIIHIS Company is being formed for the purpose of establishing a Foundry and Engineormi"' g i VVorks i with tile-principal place of business at Hoki^ika. iho large amount of machinery required for the Dredging Companies that will be working in and around Hokitika warrants the promoters in thinking- the piesent time most opportune for establishing an Iron Foundry, there being no works of tho kind at present at Hokitika. In tho immediate vicinity of the town there havo been 30 Gold Dredging Companies floated and rogistored, representing a capital of about .£300,000, while many other Companies in-e in course of formation ; and it has boen found impossible to obtain dredges from the exiting foundries in tho colony within iinything like a reasonable time. lliu principal Foundries at Auckland, Wellington, CliL-islohurch, aud Dunedin are now working at lull pressure, and virtually commanding their own terms for the construction of Dredges tor the Wo*t Coast, and yot are still unablo to cope with the demand, i i Z? nb of a " "l'-to-dato plant is noted in tho Otasro Daily Times of 4th July as folI? WS :™ ni ca l )ltil1 invested in dredges in O ago and on the West Coast amounts to more than X 2.000.000, which is a largo sum for a limited population such as ours. Yet tho work ot fJredjro coiistmctiou proceeds apaco, and not a fow are in a forward condition ; but as l.liero aro jn-otty well on to a couplo of hundred drodgos for whioh contracts have been let for Otsigo anil the West Coast, New Zealand engineering establishments are totally unequal to UlOU 10 ta>k of buililiug them within a reasonable time. In this connection. it seoms vpmaikable that none ot our Now Zealand firms havo risen to tho occasion and oquippod a large &liop with the latest appliances to cope with tho demu.nd for dredging plant. Tho lari^e pronts ''U the contracts would soon recoup any firm its initial outlay, and leave a very wide margin for future profit. Cases have been brought under our notice of firms doubling the nsual amount set down for profit When tendering for dredging contracts whion they did not particularly want, and yot found themselves tho successful tenderers, so anxious are the uui]onty or tha companies to get to work. But two hundred dredges are not built in a fow weeks time, so that months are likely to elapse before many of the dredges for which contracts have been let get to work." It is therefore felt that t)iis Company will meet with the heartiest support of all those inferehtod in gold dreilging, and there should not be tho slightest doubt as to the profitable nature of tho undertaking. Not only is the Company to lo k for largo profits from tho supply and construction of dredges, but also to tho enormous amount ol work that inasfc neoHSsanly ensue for repairs and renewals, as tho Dredging Companies, in estimating their working expenses, allow jBIQ a week as the minimum for each dredge for repairs to machinery, Tho town of Hokitika has special facilities for such a foundry as contemplated ; it is in the very heart of tho dredging field of the West Coast, and as the saving of ti.ne is an imSortant objucfc when repairs ure needed, this Company must command the dredging work of wiiuiara, Wainiea, Blue Spur, Hauhau, Kauieri, Ripm, Woodhto.-sk, Ross, and tho Back Lead Beach Claims, whioh extend for a distance of 2(lO miles, and the whole of the large district known as South Westland, in t)ie southernmost part of which dredging companies have already been formed. , The pionio'ers of this Company being so largely interested in tho development of the dredging industry can command sufficient work from the local companies to keep the foundry at work night and day from the coniraeneumont of operations. The Company will start with the most modern labour-caving plant specially designed for manufacturing and repairing dredging machinery. an 4 the work* will bo fitted with electric light to enable i operations to be carried on continuously. The local directors and residents of IJolfitika have agreed to subscribe for .£SOOO of tho capitaLof the,-Couipauy ; nnd the Hokitika Borough Council, recognising tho importance of Buch an industry m their midst, have notified their willingness to lease to the Company for a term of sixty throe years, 4 acres of a public reserve in tho centre of the town ami close to the railway, at tho nominal rental of £20 per annum. Whilst the nominal capital of the Company is fixed at ,£2!>,000, it is anticipated thai, not more thau 106 per Rbaro will bo requirod to bo called up, as tho estimated cost of initiation, including plant and buildings, does not exceed jC7*>oo, which leaves a substantial amount for stock and woiking c.ipitnl. Mr. Wayward, one of tho Consulting Engineers, will proceed to America lo arrange for the conduction of machinery and tor supplies of raw materials immediately upon the registration of tlio Company. 'J ho Provisional Directors will register the Company when they consider sufficient pharos have been applied for; the cost of flotation, incorporation, etc., being borne by tho Company. ' ' The Directors in recommending this as a sound and most promising inueatment would particularly point out that there is no promotion money or pain-up shares to be given away. There are no old works or buildings to tnko over, all tho muokinory will be now and on the best laliour-faaving principles of modern American foundries. Hokitika is connected by railway with all tho important dredging fields North, including tho Grey Valley and ltecltoii,tuid this Company could land machinery on the luango-liua Valley, Bullcr Rivor and Matakilaki, ami by regular sea communication with South Westlaud,- quicker and cheaper than could bo done from tho large cities of the colony. Coal cau be delivered by train right into the works, either from Brainier or Blackball, at small cost, and "Weslport coal can bo delivered at less cost than at Wellington, Christohuroh, or Dunedin. Tbo enormous deposits of auriferous alluvium on tho West Coast when worked by dredges should prove as gieat a boon to the Const as the Frozen Meat Industry has proven to thu pastoral districts of the colony ; and it is estimated that wil.'iin two years more than one hundred dredgus wijl bo working on the Coast and double that number required for I companies aheaiiy projected, so that a very largo field for operation is open to this Company. WINTER SALE. FINLAT ML EOD & CO.'S WINTER SALE Is Booming along. Customers delighted. STARTLING VALUE IN EVERY DEPARTMENT. __ PIANOS AND ORGANS. Several Ranges of MANUFACTURERS' * SAMPLES, including— ffl 111 ? 3 Largest Stock of Pianos and Organs Hosiery, Gloves, Umbrellas, Ties, Corsets, p « AN »' c^ffi'^D'SS^i^SSuTb? i Ladies' Underclothing, Jackets, Kjch. Lipp and Sohn. John Uroadwood and' Sons, Bohm, Collard and Collard, SohwechMacintpahcs, ten, Koo* and Sohue, and otjher notable AT LESS THAN ENGLISH COST PUICE. manufacturers. Time payments from 20s monthly. Organs for the Chuioh, for the Home, for CLOTHING-. l 0 c ' 10 ° - Time payments from 10s monthly. Men's, Youths', and Boys' Dress Goods, th i n v ' oi i.« n> i r « It will pay prospective clients to place Flannels, Calicos, Sheetings, Towels, Ac, thcil . ol . de r fi with THE DRKSUKN PIANO AT SALE PRICES. COMI'ANY, Lambtmi-qnuy, Wellington. M. J. BIiOOKES, Manager. ~ ~~ We close at 1 p.m on Saturdays. NEW REMEDY FOR CHILDREN. RIDD'S TEETHING POWDERS, for all ailments caused ' by dentition, such a.? painful swelling of tho gums, restlessness, f-verishness, nervous twitchings, elc ; , also for feverish, attacks, furred tongue, jnundice (yellowness of the skin), and constipation. Sole in packets, with full directions enclosed, at ls. Prepared only by COLERIDGE RIDD, Chemist and Dentist, Ingestre-street, Wellington. Teeth carefully extracted, ls. \\J ANTKD. Ladies who are admirers of * » pretty hair to call ann inspect our artihtic fringes of natural curled human hair, DYEING AND CLEANING. on invisible foundations ; they Rave putting and curling your own hair, aro light, simply \\T ANT E D Known, that fixe.l, and give natural offoot. We also make > V MACKINTOSHES plaits and tails of beautiful puro hair (all can be CLEAN KD or D'YKD at BARBER luugths), do up ladios' own combings, or and CO.'S, Steam Dyers and Cleaners, 4C, make watch-guards of jour friend's hair. Cuba-street— the only Dyers in the colony A lady export hair worker always in att-nd- that possess the machinery necessary to give ance. (Jail or write I'or prices, enclosing you satisfaction, pattern of hair, to Christeaon, Hnirdveßger, Willis-street, Wellington.