Page 1 Advertisements Column 4

Grey River Argus, Volume VI, Issue 409, 27 August 1868, Page 1

PROS P E C T U S OF TIIH GREY RIVER COAL COMPANY (Limited). Capital :— £loo,ooo ; iv 2000 shares, of £50 each, (Established under the Joint Stock Company's /*ct, N.Z., 18G0), Of which amount it is proposed now to raise £25,000 by the issue of, five hundred jjhares. £2 deposit to bo "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 Dm-ECTOHS. eiißisTomißcrr. Geo. Bccki.ev, Esq.^M.P.C. H. P. Murray - Ay.nsley, Esq., 41. P.0., J.P. Geo. Holmks, Esq. J . Inolis, Esq. W. S. MoonnocsE, Esq., J.P, W. Reeves, Esq.,'J:P. E. RjcnAßrsoN, Esq. R. H. Rhodes, Esq., M.P.C., J.P. W. Wilson, Esq., M.P.C., Mayor of Chvistehurch. greymocth : local committee. James Kerr, Esq. Gerald Peiiotti, Esq. W. S. Smith Esq. Jos. Ktlqour, Esq. Harry Keniuck, Esq. Bankers ... ... Consulting Engineer.. .Edward Dobson, Esq. Solicitors . Messrs Hanmer and Harper. Hou. Secretary ... J. Ollivier. AGENTS :— Greymouth — Messrs D. Macleax and Co. Hokitika- Mr E ,'\V. Jones; Mr Mark^pjjot. Memorandum of 5 Association. 1. The name of the company is the Grey River Coal Company (Limited). 2. The Registered Office of tho Company is to be established iv the Province of "Canterbury. 3. Tho objects for which the Company is established arc— the working of certaiu Coal Mines situate near to tlie Grey River ; and the sale of their produce 'in such manner respectively as the Company may from time to time determine ; and $ie doing of all such things as are incidental <}r conducive to the attainment of the above objects. 4. The Liability of^the Shareholders is "Limited." . f 5. The Nominal Capital of the Company is £100,000, divided into 2000 shares of £50 each. PROSPECTUS. "A country without flgaltis. deprived of, perh'ipSf'fhc viost poioj^rfiitffJjmtof civUlmtion. In the-fe days oj Steam Engines, Steamboats, and [iailway.% on the use of which xoe are dependent for commercial intercourse and the provision of innumerable wants. Coal, the prime mover of this vast machinery, is an absolute necessity, and if it be not produced within our own country, tvn must draw our supplier, at great cod, from other places. It v 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 Goloniitx of that race which, above all others, has attained great national prosperity by means of its vart mineral wealih, will jind in their new countries the same agents by which to build up a like greatness.— Juror's Report, 1865 As far back as June, 1862, the promoters of the Grey River Coal Company met together for the purpose ot developing the vast miueral resources of the Grey District, and in ISG3 the conditions upon which they were to lease the lands reserved by the Provincial Government of the Province of Canterbury were agreed to between thep'rovincial Government and themselves; and 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 1867. 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 offor 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 extant and exceeding richness of the seams of Coal lying above the water level, and which ara 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 combustibility 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 aud quality of the Coal. The testimony of the Captains of Steam Vessels ami their Engineers is to the effect that I6cwt 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 ihe ship's side, the balance iv its favor would oe much greater. The Lsase 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 tho Provincial Council of Canterbury, Sission 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 acm. It is compulsory upon tho Company to bring do.vn to Greymouth 5000 tons of Coal within eighteen months of the daoe of the Lease, aud to cmstruct a Tramway or Railway over a portion of the Estate ; after that tinio 10,000 tons of Coal must be gained annually, tho Company paying to the Government a Royalty of sixpence per ton. By a Proclamation of His Honor tho 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 tho R«ser~a to the