Page 4 Advertisements Column 3

Kumara Times, Issue 180, 2 May 1877, Page 4

THE WAINIHINIHI WATER- "*• RACE COMPANY, LIMITED. Established under “ The Joint Stock Companies Act, 1860.” Capital £-30,000, in 6000 Shares op £5 Each, The Capital to be paid up by Calls, not exceeding 5s per Share, at intervals of not less than one month. Deposit, 2a 6d per Share. Provisional Directors : Mr E. Barff Mr J. Cole, Mr H. Cuming, MrJ. Chesney, Mr H. Friend, Mr M. JBoulahan, Mr W. Henderson, Mr J. Kerr, Mr D. M‘Connon, Mr C. Riley, Mr A. Williams, Mr W. Barron, Mr D. Cowen, Mr W. Cornfoot, Mr J. Evans, Mr G. Gordon, Mr W, Haworth, Mr E. J ones, Mr D. Matchett, Mr A. M'Crae, Mr J. Rugg, Mr P. Williams, And all those subscribing the Memorandum of Association. Bankers : The Union Bank of Australia. Solicitors : Messrs Button and Reid. Engineer and Manager ; Mr James Wylde, C.E. The Kumara Gold-field has now been proved to be of such an immense extent, that when the water-races hitherto projected—including the Waimea Race—are brought on to the ground they will be utterly inadequate to supply the requirements of the miners. Every head of water that can possibly be brought on to the field will be eagerly taken at rales which will insure a very large profit to the proprietors of the water, and at the same time will allow the miners to obtain large and steady returns. Whilst there are several leads which can be and are bcing_ worked profitably by tunnelling and driving out the ground, there are miles of country which can only be worked by ground sluicing, At tbe present time it is estimated that there are about 4000 miners on the field ; but this number would be greatly increased if water for ground sluicing was available. It has been found by preliminary surveys that the whole of the country from the sea to over 25 miles inland, including the whole of the Kumara goldfield can be commanded by a race from ■the Waiuihinihi river (which is one of the sources of the Teremakau), whilst there is ample fall for tail water throughout the whole distance into the Teremakau. It has also been ascertained that a race from the Wainihinihi could be formed almost entirely by open ditching, and that there will be no need of expensive tunnels or fluming, The race which it is proposed to make will be about 20 miles in length, and will give a constant supply of 50 heads of water.

Ths estimates for the proposed work, which have been carefully prepared, shew that the cost of the race will be about £20,000, and in fixing the amount of capital of the company a large margin has been provided for unforseen contingencies. The promoters of the Company have obtained all the necessary grants and protections required under the Goldfields ■ Act, They have also had a preliminary survey made by experienced engineers, and have paid the costs of registering the Company, &c., for which, and for their interest in race, they have agreed to accept 600 paid-up shares in the Company, The receipts from the sale of water are estimated at £12,500 per annum, which, after deducting £3OOO per annum for maintenance and management, will leave a profit of £9,500 per annum, being over 30 per cent, on the capital. . Applications for shares in the following form may be addressed to the manager:— Wainihinihi Water-race Company, Limited. I hereby apply for shares in the above-named Company, in respect of which I enclose 2s 6d per share deposit, and I agree to accept the same or such lesser number of shares as may be allotted to me. Name in full Occupation • Address Date PATERSON BROS., steam COFFEE AND SPICE MILLS. WHARF STREET, HOKITIKA. J/[ R- T. CHALMERS, NIGHT WATCHMAN AND LAMPLIGHTER. Address Mrs. Leach’s, Auld Reekie Hotel, Seddcu-street. AMES B R I M B L E GENERAL CARRIER. A Waggon leaves the Duke of Edinburgh Hotel, Grey mouth, for Kumara three times a week.