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AUCTIONS. TO-MORROW. 10th SEPTEMBER, At 11 o'clock. JOHN GRINDLBT (bn behalf of the Famew’ Agency Company, Limited) will hold theft weekly sale ofi grain To-morrow (Tuesday), lOttt mst., at U. o’clock—--1,000 sacks oats i 260 „ fowler wheat \ 500 bags of malting ami milling barley 250 „ Derwent potatoes O trucks extra prime oaten ohaif (front j T, aid J. Taylor, Waituna) 40 kegs prime butter. Ntf r**erve. t WEDNESDAY. 11th SBPTFSSBBF, At 2 o’clock. HOUSEHOLD FUHNITUSE ANDEFFECTS, JAMBS BAM SO N AN D CO. have received instructions from Mir Morrison to sell by auction, The whole of his Household Furniture, etc.» consisting of— Superior haircloth suite (red pine frames), walnut whatnot, marble timepiece, overmantel (black and gold), Vienn>> chairs, Brussels carpet, hearth and wc cl rugs, steel bar fender, brass fireirons, oil paintings, double and single iron and wood bedsteads, spring and flock mattresses, bedding, washstands, waif, dressing tables, looking glasses, towtl rails, chests of drawers, colonial sola, 10 horsehair dining room chair?, cane armchairs, kitchen furniture,, cooking and laundry appliances;Etc., etc., etc. ' PROSPECTUS. PROSPECTUS OP The sew hoy big beach gold MINING COMPANY, LIMITED. To be Incorporated under “The Companies Act, 1882." CAPITAL L 160.000, Divided into 80,000 Shares of L2 each, Of which 48,000, paid up to 30s, and with » liability of 10s per share, are reserved for the Owners of the Claim (the present Sbotover Big Beach Gold Mining Company, Limited, and Messrs Sew Hoy and John Blair) as part payment of the purchase money; the balance, 32,000, being offered to the Public for subscription »b follows : 2s 6d per share on application ; 2s 6d per share on allotment: and the balance in calls not to exceed 2s 6d per share per month. (When 30a per share have been called, all the shares of the Company will be equally liable, so that la per share would produce L 4,000). r RO visional Dibkctobs: Hon. W. J. l.&rnacb, C.M.G., M.H.B. Sew Hoy, Esq. Peter Duncan, Esq. J. A. Barr, Ksq. Robert Nimmn. Esq. D. M'lntoah, Esq. George Tomes, Esq. John Blair, Esq. James Gore, Esq. James Shiel, Esq. W. J. Croft, Esq. Bankers: The Colonial Bank of New Zealand. Secbktaet : Themas Callender, Esq. • Bbokebs : Frater Bros., Auckland, Arthur Warburton, Wellington. James Henderson, Christchurch. Ritchie and Co., Invercargill. R. and A. J. Park! A. G. Fenwick > Dunedin. Thomas Grose j W. H. Quick \ Melbourne. Lawson and Douglas/

This Company is formed for the purpose of acquiring and working on an extended scale the wonderfully valuable claim of the Big Besoli Compa»y on the Shotover Hirer (known as Mr Sew Hoy’s big dredging o'aim), together with three adjoining claims taken up by Messrs Sew Hoy and Jthn Blair—the total area of the claims being over 260 acre?, and extending for upwards of five miles along the Biver from Sh tdy Creek (where in one day about 300 ounces of gold were taken irom a private claim) to and including the richest portion of the Tucker Beach—the respective areas of each claim being as followsßig Beach Claim. 178 acres; the Evening Star and Morning Star Claims, 26 acres; the Claim below Shady Creek, about 20 acres; and the Upper Tucker Beach Claim, about 40 acre?.

It may be pointed out tbat if each of these claims bad been floated into a separate company, the three new claims alone would be valued in the aggregate at more than the amount to be contributed by the public towards the capital of this Company. These four claims being all in one block can he worked more economically under one management, I* is proposed to put three or four large and improved dredges on the claims without delay; and in the plans already prepared for these the experience gained by working the present dredge has been fully taken advantage of. Ihe new dredges will each be capable of lifting and treating nearly double the quantity of stuff without additional working expense, while the cost of management will be considerably less in proportion.

It is unnecessary to say anything as to the value of the Big Beach Company’s property, the dredge st present working having amply demonstrated that this is one of the most valuable and permanent mining properties in New Zealand; and when the shares in the Big Beach are already valued at ever Ll6O cash by the investing public, it must be seen that with the additional dredging area given by the adjoining claims acquired from Messrs Sew Hoy and John Blair, the property becomes at once without parallel both for extent and value even in the rich Shotbver district.

Systematic testing, by sinking and boring of the adjoining claims, baa proved that the gold deposits existing there are richer than any yet worked on the Big Beach, and as easily dredged, so that this Company would be the enviable possessor of four large special claims of acknowledged richness, and all capable of being economically worked, so as to give splendid returns on the outlay entailed. The large quantities of gold obtained every week by the present dredge, from ground which i» acknowledged to be the poorest part of the claim, is already matter of history in beach dredging, and need not be repeated here. It might be stated, however, that owing to the shortness of tbe ladder in the present dredge, it has not always been possible to reach the bottom of the washdirt; and ground showing improved prospects has therefore had to be left for future working. Investors need not be told that the returns will be phenomenal when the additional dredges are at work for this company on “maiden” ground, which has lately been proved by paddocking to yield over Idwt of gold to the dish of washdirt.

A contract has been entered into, dated September 3,1889, by theShotover Big Beach Gold Mining Company, Limited, of the first part, Sew Hoy of the second part, John Blair of the third part, and Peter Dnncan, as Trustee for this Company, of the fourth part, for the purchase of all claims and assets of the Big Beach Company and the several adjoining claims of Messrs Sew Hoy and John Blair, for the price of L30,0C0 in cash (payment of which will be made by instalments), and the 48,000 shares above-mentioned three-fonrths paid up. This contract can be inspected at the office of the Company’s Secretary. Sufficient capital will bo called up (for uhich it is esimated, not more than 30s per share will be required) to enable the Company to at once put on the additional dredges, and if considered desirable to provide for utilising the valuable water power now running to waste on the Company’s claim. The large area of the claims—more than twothirds of which is virgin ground, and nearly the whole of the total area having been proved by boring and other means of prospecting to oe easily dredged gives assurance that. the immensely profitable undertaking begun by the Big Beach Company can be carried on for many years. While assuming that the virgin ground yields no more than that already worked, and the new dredges (designed to lift double the amount of stuff) give no better returns than the one now in operation, the whole cf the Company’s dredges should produce as a minimum from L 60.000 to L 70.000 worth of gold per annum. Dividends from the earnings of the present dredge will, from the registration of the Company, be paid in proportion to the amount credited as paid up per share; but by the time the other dredges are at work it is anticipated that all the shares will be on an equal footing. This Company shall bear the expense of floating, registration, and all necessary preliminary expenses. The Share List will be Closed as soon as the full number of shares have been applied for. Priority of application will be considered in the allotment of shares. Applications for shares will be received by any Branch of the Colonial Bank of Hew Zealand, the Company’s Brokers, or by THOMAS OALLBNDEB, Secretary, Rattray street,. Dunedin. 3rd September, 1889.

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https://paperspast.natlib.govt.nz/newspapers/ESD18890909.2.30.7

Bibliographic details

Page 3 Advertisements Column 7, Evening Star, Issue 8007, 9 September 1889

Word Count
1,349

Page 3 Advertisements Column 7 Evening Star, Issue 8007, 9 September 1889

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