Page 3 Advertisements Column 1

Lyttelton Times, Volume LXXIII, Issue 9091, 30 April 1890, Page 3

Public Companies; P. B 0 S P E C T U S OF THE . WHITE OEIEES • DEBDGIHG COMPANY (LIMITED), bulled eivek. To bs Incorporated under the Provisions of " The Companies Act# acom, nominal capital ... ... £IO,OOO, ' Divided into 20,000 Shares of 10s each. Of which 5000 Shares, credited as paid up to 7s 6d each, have been reserved as part o£ the consideration to he given to tho Vendor for his property to be transferred to the Company; the remaining 15,000 Shares being offered for public subscription on the following terms: — ■ Sixpence per share on application; la on allotment. and the balance us required in calls of not more than Is per share, to be made at intervals of not lees than one mouth. DIVIDENDS to be~paid at pee share. Dieectohs I MAURICE JOED, Esq., Biewer, Dunedin JOIiNBLAIti, Esq , Seed Merchant (of Nimmo , and Blair), Dnuedin SAMUEL JACOBS, Etq., Fancy Goods, Merchant. '■ Dunedin ‘ ..JULIUS HYMAN. Esq., J.P., Brewery Manager, Dunedin . WILLIAM aCOULAB, Etq,, Merchant (of W, Scoular and Co,), Dunedin T.M. WILKINSON, Esq., Chemist, Dunedin Banxebs : COLONIAL BANK OF NEW ZEALAND. ' ' Soniciion ; EDWARD A. JOEL. lisq,. Bond street, Dunedin Seckjitart (pro tom.;: THOMAS OALLENDEE, Euttray street, Dunedin Bkokebs ; A. BAETLEMAN, Bond street, Dunedin , B. and A. J. PaEK, Bond street, Dunedin. Tho proposed Company is to bo formed for the purpose (among other things) of acquiring ana working by dredge the White Cliffs Claim, situated on the Buller Elver, about 22 to 23 miles trom Westport, which claim is now held ns a prospecting area for dredging by Mr John Bassett. The holder of tho area is entitled to take up, as a prospecting dredging claim, one mile along the riyar by a breadth of up to hlirh water mark. The claim 8" bo about from 70 to 80 acres. ia beaches of the Buller Liver, including the ia and bed, have long been known to be highly fetous, and have afforded good wages to indiul miners for years, but, on account of tho ar, they ha,vo not been able to work to a greater da than from Sit to Sft; except in the old work* i where the river bus formerly run on a higher U Xu these old workings, however, the miners a able to roach a depth of about lift, woeu the met proved richer and tho gold coarser at tho :om than at the top. it may safely bo assumed that at the greater depth ot 15ft to 20It, which will be reached by a dredger, very much larger quantities of gold will be obtained. The prospects obtained' by Mr E. A. Young (of Messrs Young Bros), as stated iu his reports (copies of which accompany this Prospectus) justify such a conclusion. The tests that have so far been made by driving pipes ehow the depth of wash to be trom Tift to 22ft. Dredging, on.a large scale has not as yet been in* troducedon the Boiler Eiver, but when the spoon dredge (awkward and slow as it is) has beou employed, the miners state that they have always made good wages. ~, _ „ As to the groat richness of the Buffer Kivsr, intending investors are referred to the remarks on the Bailor Warden’s District in the “Hand-book of New Zealand Mines, 1887," published by tho Government, and edited by W. J. M. Laraaoh, Esq., C.M.G., then Minister of Mines. The claim is specially adapted for dredging—the river, whore the claim is, being well spread, not ovqgdoop, and with good beaches. From the prospects obtained (nu average of 22} grains paSkwbie yard), and from tho fact disclosed in the report of Mr E. A, Youn«, M.E.A.M. lost, C. 8., that gold is to be found throughout the claim, the promoters are confident that this will prove oneot the richest claims in this now era of geld mining. As before stated, the prospects obtained by Messrs YotiW Brothers shew an average of 22} grains—wortlT 3s 5d per cubic yard. Now, it tho dredge lifts only 40 cubic yards per hour, and works only 210 days in the year, and, say 22 hours (in three shifts) per day, the gross product would be £36,080. Experience on the Clutha and Shotover has shown that the cost of working by bucket dredge ia not more than 4d per cubic yard—i.e., £3520 per year. It mast be borne ia mind in this connection that the cost in the matter of coni will be much less in the present instance than in tho oases of the claims on the Shotover and Cluthu. Deducting, however, tho whole of this amount and, say, £IOOO for wear and tear and ofiioo expenses, the net profit would be £31,560 available for.dividends, representing S2(i PEE CENT PEE ANNUM to the contributing shareholders on the amount proposed to be called up. Assuming, however, that the average yield is only equal to Is per onbio yard, which Mr Young considers a very low estimate (vide his report), there will be a net profit of £6040, or equal to over 100 per cent per annum to contributing shareholders on the amount expected to be called up. It is estimated that to put on the ground a powerful steam bucket-dredge, fitted with all the recent improvements, in good working order, all necessary plant, moorings, buildings, Ac., will not seat-more than £4OOO. It is not, therefore, anticipated tbat.it will be necessary to call up more ihan-se'per share. The claim is in the name of Mr John Bassett, bat Messrs Maurice Joel and F. U. Mace have Uso interests in the claim. The vendors are to receive 5000 shares credited ns paid up to 7s 6d ; 2312 10s when the Company is fliatad; and £312 10s so soon as the proceeds from the sale of rold obtained from the claim amounts to £2OOO. The Directors feel that nothing more need be laid to show the very valuable nature of tho claim ,nd the exceedingly liberal terms of the proposed le. 'The Company ia to ba deemed floated whan 0,000 shires (other than those 5000 shares which he vendors are to receive) are allotted. All excuses of the floating of the Company, up to the icat allotment of shares, are to bo paid by the coders. The expenses of and incidental to framIngand registering the Memorandum and Articles if Association (which have been already prepared, ndmaybe inspected attba office of Mr Edward lexaucler Joel, solicitor, Dnuedin), andprelimiary agreement with the vendor are to ba paid by ia Company. An agreement dated the 17th day of March.bereen John Bassett, of the one part, and Charles .arling, on. behalf of tho proposed Company, of the then part, for tho sale of thoabove-meutiouod proarfy, has been entered into, and m.iy be inspected b the ofiioo of Mr Edward Alexander Joel, solicitor, unedin. Astheabovais the only contract to which ao Company, or any person on behalf of the Com[any, is a patty, applicants for shares shall ba eemed to waive the publication in accordance with lection 23 of "The Companies Act l£S3"ol partidars as to any other contracts. The Share List will close ae soon as thoreqmsite amber ot shares are subscribed for, and in no case ■ill applications bo received for loss than 50 shares, i the event of the Company not fi oatiug, the applition money will be returned free from all deduo|on. Early application is necessary to ensure shares, it is not anticipated that the Share List will be an for more than a few days. Applications for shares will be reoai rod by Thomas Bonder, Secretary,Hattray street, Dunedin; Mr G. Mace, Wesport; and by the Brokers ot the jmpany, from whom also prospectuses and rents of experts dan ba obtained, [Prospectuses may be obtained at the Colonial ,pk, where applications will ba received. 5317 Educational. ANTEEBUEY O L L E G E. GIELS’ HIGH SCHOOL. TEACHING COOKING. PPLIGATIONS are invited for the appoint- _ ment of TEiCHEE OP COOKING at the rls’ High School. Tho duties will commence out the end of May. F. G. STEDMAN. legistrar’s Otßoe, Registrar. Canterbury College. , May 21, IS9O. 5610 NELSON COLLEGE FOE GIELS. iIHE Governors of Nelson College invite v Applications for tho post of LAD V tINCIPAL, which will become vacant ou the |h Jane nest. . , , I'he salary will be £250 a year, with board and lidenoo in the College. ■ In efficient Housekeeper, with a staff of Servants |l be provided, but the Lady Principal will bo laired to undertake the general supervision of 1 boarding establishment. .. . Lpplications, accompanied by testimonials and lommendations, addressed to the Secretary, will leceived until the 30th of April next. r OSWALD CUEpIS. Secretary, lollege Office, Nelson, 7th March. 1820. - 6CO XS3 TAYLOE’S Classes for Dancing. Saturday Morning Class forming. Children’s Wednesdays, 4.15; L vouing Class, 7; 15s tho io from day of joining. Now Polka, New ttischo, Now Galop, Vulse Mazurka, Highland ttisoha iu various figures, Vaises, Volso lon and Square Dances Practised, making a y and varied programme for an evening’s }. Practice Class 10s 6d the course. Private ms. Country classes visited. 236, Armagh t West. 69 DANCING, fE and Mrs Gardiner’s Classes are now form- _ ing. Monday evening, ladies’ only: ‘i'uesadults. .Friday, gentlemen only. Saturday moons to suit country people. Adults private ion hours to suit. ~ , . „ . 78, Lichfield street East. Board and Basidoiioo. LBION HOTEL, Maclaggan street, Dunedin; no extra charge during Exhibition; by tho ss, or 18s per week; plenty of accommodation isltora; night potter inattondanoo.—J. Davies rietor, 4899 3EIOE PEIVATE BOAED&EESIDBNCE ancestor House, 256, Gloucester street Lve minutes’ walk from centra of city, ordens, Ac. Terms moderate. 5501 PORTABLE PEIVATE BOARD AND RESIDENCE, WAITAHUNA HOUSE, 9hel street W., five minutes from Fos Offloe.-Library, Museum, Ac. 693