Page 2 Advertisements Column 3

Northern Advocate, 2 July 1887, Page 2

15 R O SPEC T U S OF THE -KAMO COAL COMPANY (Limited), Capitai, £50,000. In 50,000 Shares of £1 each. 2s 6d per share to be paid on application ; 2s 6<3 on allotment ; in three months after allotment, Is 3d ; in six months after allotment ls 3d ; in twelve months after allotment, " 2s 6d ; thereafter as required, but no call to 1 exceed 2s 6d per share B \ Provisional DiBECTOua : _ Thomas Morrin Fierce Lafiigan r Edwin Mitchelson B. W. Moody Manager: Bankers: 5 B. W. Moody. Bank of New South Wales. Solicitors : Brokebs : Jackson aud Bussell. Broker's Association. Secretary, Pro ter n: B. W. Moody. This Company is to be formed to purchase from the Kamo Colliery Company (Limited) 5 their Works, Machinery, Plant, Lands, and 5 Boyalties, situate in the District of Whangarei, l New Zealand, and to^work the present valuable ■ seams of Coal, Fire Clay, and othor minerals [ which have been already opened up, and other scams of Coal of very superior quality recently discovered on the same lands. The Property to be acquired consists of 1747 [ acres of freehold— 6oo acres of which is forest land, affording an unlimited supply of timber for mining purposes ; and 571 acres of leasehold— 2so acres of which are held for a period of ninety (90) years on payment- of a royalty of sixpence per ton, and the remainder for 21 years, in all 2318 acres valuable Mineral Lands. Manager's House, Souses for Miners, and Offices are erected on the freehold. The Machinery and Plant (fully particularised in the Schedule attached) is all in good working order, and is a complete wor!- mg plant for immediate operations, and adequate to present requirements. j The hulk Senator will carry 750 tons coal from Whangarei to Auckland, is in good order, and cost the Company— years ago £3200. Two Barges, each with a capacity of 150 tons, cost each £550. Coal Wharf at Auckland with storage for 500 tons coal, leased from the Harbour Board at a rental of 30s per week. Bailway siding at Kamo connecting the pit, through the Bafiway, with deep water,— constructed by the Company at cost of £1000. This extensive and valuable Property is offered to theproposed now company for the sum of thirty-five thousand pounds (£35,000)— less than half the cost to the present owners. TheKamoCoalCo. Ltd. tn pay Kamo Colliery C?-» Ltd.. .. .. 35,000 0 0 Thus— lo,ooo Shares paiiup to 10s . . 7,500 0 0 To take existing Mortgagesas under—Bank of New South Wales, 6 per cent. . . 16,000 0 0 Meredith, 6 per cent. 1,300 0 0 '•- - Farmer 8 per cent. . . 1,750 0 0 Morrin & C 0. ," Sana- 1 tor,"B per cent. .. 1,000 0 0 Bank of New Zealand 6 per cent... .. 4,780 0 0 Balance in cash „ 2,670 0 0 35,000 0 0 Capital (Nominal) .. 50,000 0 0 Less lOs per share on . ' I ~Assßfr3iß&Br. — .; "Tfffr) oo" — """' — 42,500 0 0 Amount to be paid or to represent Mortgages as above . . „ 24,830 0 0 To be paid-in cash . . 2,670 0 0 /_» v -■;.. -27,00000 — - g S'._rt?thj& available as wording capital .. £15,_)00 0 0 Thb p|__ eot company after having expended r^arfce «urn of money in acquiring andfitoening _ap *."j>^^neijyJtormt -"rtiff. L i^""» itw&wjay. - compel.*??, to suspend operations owing to-want * of cai«feal to meet the requirements of the GoTgninjeat Inspector of Mines, the resources or the few on whom the burden has. fallen not 'beingequal to any further strain. '-■■'•■ A sum Of from £5000 to £6000 will provide funds to sink the shaft, etc , as indicated -by 1 Mr Moody, and for a working capital. And will at once place the mine on a dividend paying footing. present condition of the mine aud workings,' md an estimateof its immediate ' promeotil^yibengathered from the report of Mr K. W; Moody,, Mining Engineer, who has , recently inspected and thoroughly examined] the property, at the desire of the promoters of the new company. His report is appended te 1 this prospectus, and is of value as the report of an independent expert in Coal Mining. The present working is from two seams, the l first being at a depth of about 230 feet, and 7 feet 4 inches thick, giving a first-class house* hold coal, and the second at a depth Of 2J5 feet and 14 feet thick, from which the coal is highly esteemed for steam purposes, and is extensively used by sea-going and costal steamers, ajad the local Government Bailway. . The demand for both, household md steam coals, widedly known as "Kamo '* coal, has always been greatly in -excess of the lupply, the output not having exceeded 2000 tons per month' This output can be immediately doubled with the facilities which the small outlay before referred to will afford, and can be placed in a ready market at a cost to compete with any other coals. In addition to the vast stores of coal prayed to exist in this property, there are valuable clays, iron .re, and other; minerals which will in time prove sources of profit, but' in the stores of coal alone, which are proved both as to quantity and quality, there is the assurance of a profitable investment. The greater part of the Company's freehold consists of good agricultural land, and may be . leased in small areas for farms. Several lots have been rffready jo: leased, and it is estimated a rental of from £400 to £500 per annum will be received from this source. The Machinery and other Plant consists of Winding, Pummng, andother S^eam Engines, - Steam Boilers, Coal Skips, a large quantity of Tramway Bails, Ckw^ Screens, Blacksmith's and Carpenters' Shops, with Tools, Timber, Iron, etc., also Agenda add Workmen's "Houses, tio., etc., as per Inventory to be seen at the Company's offioe, 4, Marine Chambers. Auckland, 15th June, 1887. To the Chairman and Directors of this Kamo Colliery Company (Limited); 1 Geotxeken,— . . In accordance with your instructions I have been over, and have thoroughly examined, the whole of the inineral properties and plant of , the Kamo Coal Company at Whangarei, and • now beg to hand you my report as follows :— ( I find that on referring to the plans of your surface properties they consist of 1747 acres ef < freehold and 671 acres of leasehold lands, in all about 2318 acres; the leaseholds being all secured to tjus_ .3ompany for long periods at ' very moderate rentals. •■■ : . The whole of these Properties .wye already ' been proved beyond all doubt to contain two very valuable seams of coal ; the top seam, 230 feet front the surfac, being 7 feist 4 inches in th icknesajaf^lean coal ; and' the lower seam, 27af ewiyora the surface; is 14 feet thick of clean coal, there being no bands or refuse whatever in either seam, which is a great advantage in securing the marketable coal in a perfectly clean condition. And by a careful examination of the underground workings, I j find that the quantity of coal extracted from both seams up to the present time is not more " than about 120 acres, thus leaving about 2,220 acres of both seams of coal untouched for ] future operations, which will, I consider, yield (exclusive of faults and small coal) something like 33,000,000 tons of good marketable ooal ; and lam certainly disposed to believe that from ; good indications other seams of coal will be found oh this property at lower levels, and at , no great depth below your present bottom seam. The permanent Winding and Pumping Machinery, with aU the other plant : and appliances now on the Company's property are good, substantial, and in first-class working order, and quite sufficient fo? an output of coal of fr»m 300 to 400 tons per 'day. ' Also the Winding and Pumping Shafts, with all their necessary fittings, ana all the underground drives and tram roads necessary for the conveyance of coal to the bottom of the shaft, are all in perfect working order, and ready for . work at a moments notice. The only outlay required to commence working operations on a satisfactory bpsisis the sinking of a new and larger ventilating shaft, which can be done at a very moderate cost, and which is rendered necessary by the- mining Act recently passed by the New.ZedandLegislature,and some other minor improvements' found to be absolutely required to increase the output of coal, which . is necessary to mejst the greatly- increased deman . forthe ____#_. y '9 opal, ' < __,■>'