Page 1 Advertisements Column 4

Grey River Argus, Volume VI, Issue 407, 22 August 1868, Page 1

T> R OSPECTUS OF THR GREY RIVER COAL COMPANY (Limited). Capital :— £loo,ooo ; in 2000 shares, of £50 each, (Established under the Joint Stock Company's Act, N.Z., 1SG0), Of which amount it is proposed now to raise £25,000 by the issue of five hundred shares. £2 deposit to be paid on application ; a further sum of £3 on allotment ; and the balance at. intervals as required. No call to be made with less than two months' notice, and then not to exceed £5 per share. POVISIONAL DIRECTORS. CUHISTCH&ttCK. Geo. Buckley, Esq., M.P.C. H. P. 1 , Murray - Aynsley, Esq., M.P.C, J.P. Geo. Holmks, Esq. J. Inous. Ksq. W. S. Moouhouse, Esq., J.P, ' W. Reeves, Esq., J.P. E. Richardson, Em. 11. H. Rhodes, EsqV, M.P.C, J.P. W. Wilson, Esq.,?" M.P.C, Mayor of Christchurch. ; greyjiouth : local committee. James Kerr, Esq. Gerald Perotti, Esq. W. S. Smith Esq. Jos. Ktlgour, Esq. Haiuiy Ken kick, Esq. Bankers ... ... Consulting Engineer... Ed ward Dobson, Esq. Solicitors . Messrs Hanmer and Harper. Hon. Secretary ... J. Ollivier. AGENTS :— Greymouth — Messrs D. Maclean and Co. Hokitika— Mr iE. Jones; Mr „ Mark,Sfrot. Memorandum of ; Association! 1. The name of the company is the Grey River Coal Company (Limited). 2. The Registered Office of the Company is to be established iv the Province of. Canterbury. 3. The objects for which the Company is established are— the working of certain Coal Mines situate near to the Grey River ; and tho sale of their produce in such manner respectively as the Company may from time to time determine ; and the doing of all such things as are incidental or conducive to the attainment of the above.objects. 4. The Liability of the Shareholders is "Limited." 5. The Nominal Capital of the Company is £100,000, divided into 2000 shares of £50 each. PROSPECtTUS. "A country without Coal is deprived of, perha2?s, ths most, powerful agent of civilisation. In these days of Steam Engines, Steamboats, and Railways, on the wse of which we are dependent for commercial intercourse and the provision of innumerable wants, Coal, the prime mover of this vast machinery, is an absolute necessity, ayul if it be not produced within our own country, we must draw our supplies, at great cost, from other j>laces. It is a fortunate circumstance that, with few exceptions, wherever important British Colonies have been founded, there has also been found a local supply of Coal. Thus the Colonists of that race which, above all others, has attained great national prosperity by means of its vast mineral wealth, will find in their new countries the same agents by which to build up a like greatness. — Juror's Report, 1865. ' A s far back as June, 18*62, the promoters of the Grey River Coal Company met together for the purpose of developing the vast mineral resources of the Grey District, and in 1883 the conditions upon which they were to lease the lands reserved by the Provincial Government of the Province of Canterbury were agreed to between the Provincial Government and themselves; aud Mr Dobson was directed to make an examination of the Reserve, and to report generally upon the Coal Field, and the character of the country lying between it and the place of shipment at Greymouth, but unlooked-for obstacles sprung up and. prevented the completion of the lease until the latter end of the year 1567. The Promoters have now, however, secured a lease of the Reserve, consisting of 5000 acres, more or less, upon terms that fully justify them in inviting the co-operation of the public in developing the resources of this remarkable Coal Field. The Directors scarcely deem it necessary to offer any remarks upon the value of the Estate which has been thus secured, because the well-known Reports of Mr Brunner, Dr Haast, Mr Burnett, Dr Hector, Mr Dobson, and others, all bear testimony to the extent and exceeding richness of the seams of Coal lying above the water level, and which are found to be easily accessible. Dr Haast, in his Report, states that the Coal itself cannot be distinguished from the Newcastle Coal of Australia, its structure, lustre, specific gravity, mineral composition, and cuinbustibility being similar ; and Dr Hector's analysis of the Coal shows that it is as well fitted for steam generating purposes as any found in New South Wales, and is equal to most samples from Great Britain. Subsequent tests of the Coal by Engineers engaged in vessels trading to Greymouth have fully confirmed the value and quality of the Coal. The testimony of the Captains of Steam Vessels and their Engineers is to the effect that ICcwt. of the Grey River Coal as obtained in its present broken state, owing to the frequent removals before reaching the ship's hold, is equal to one ton of the Newcastle Coal : but if brought direct from the Mine to the ship's side, the balance in its favor would be much greater. The Lease granted to the Company is for a term of forty-two years, of all that parcel of land described in the Schedule to the Ordinance of the Provincial Council of Canterbury, Session xxvii., 1867, comprising 5000 acres, at a moderate rental, with power to purchase at the expiration of seven years, 125 acres of the land, in blocks of twenty-five acres, at the rate £2 per acr*. It is compulsoiy upon the Company to bring down to Greymouth 5000 tons of Coal within eighteen months of the dace of the Lease, and to construct a Tramway or Railway over a portion of the Estate ; after that time 10,000 tons of Coal must be gained annually, the Company paying to the Government a Royalty of sixpence per ton. By a Proclamation of His Honor the Superintendent of the Province of Canterbury the Company are also empowered to construct a line of tramway or railway over the waste lands of the Crown, extending from the boundary of the Reserve to the