Page 7 Advertisements Column 1

New Zealand Times, Volume LXX, Issue 3863, 5 October 1899, Page 7

FOR PUBLIC INFORMATION ONLY. PROS? EC TU'S .. ;‘JV ■: ■ Of the:. ... MAHINAPUA GOLD DRUDGING COMPANY. LIMITED, (To be Incorporated under "The. Companies Acl , 1882,” and its amendments.) CAPITAL .... ... .£6,750, (In 6750 Shares ofX‘l each). 12000 fully paid Shares to be allotted to the Promoters anil Vendors. 1750 Contributing Shares are.now offered I to the public on the following terms: i —2s peivßhare on application. 2s per Share on' allotment, and the balance in calls not exceeding 5s per month. Provisional Directors: ROBERT HANNAH, Esq., -MARTIN KENNEDY, Esq., A. H. MILES, Esq., H. P. RAWSON, Esq..AY WATSON, Esq., ■ Who will act, as Directors until the first statutory meeting of the Company, will prepare and settle Memorandum and 'Articles of Association, register the Company and allot the Shares. . Bankers: NATIONAL BANK OF NEW ZEALAND, | LIMITED. Solicitors: SKERRETT AND WYLIE. Broker: JAMES HENDERSON.

Interim Secretary: GEORGE ROSS. THE Company is being formed to acquire and work an alluvial area near Mahinapua Lake, Westland, hitherto well known as the claim/ of Mclntosh' and party, consisting of one (1) mile sixty-nye (C 5) chains in length, containing about <5 acres. ' . . . .. Mclntosh and party have, spent, about .£ISOO in bringing in water,.etc., and have agreed to take only £750 in cash until the Company pays 10 per cent, per annum to Shareholders, 'after which the Vendors receive .-£1250 out of profits, payable quarterly, but only after the-10 per cent. p.a. dividend is paid. This should be sufficient proof to intending investors of the goodness of the Claim. . d , The only agreement is that dated Ktft September, 1899, between .1. J. Mclntosh and Joseph Taylor, of the one part, and Andrew Wylie, as Trustee, of the other part. This agreement can be seen at the office’ of the Interim Secretary. The following is an extract from the report of Mr James Bishop. M.I.M.E.:— In dealing/ with’the results’ obtainable from the working of this property, there is very little, ifany-Uncertainty. as the, lead lias besn proved to extend, beyond the present holding, and .the party have fullv proved its: value, taking it on the basis of the, gold obtained .from the ground; turned over; by the .party,! and dor which the bank has given certificate.:; We bave liiQO fj’arttef.nt the most, of stuff moved, yielding.£ll-2, or equal to 2s sd. per yard, and with the appliances proposed the minimum quantity turned over would be 3000 yards per .week, arid allowing that there may be some loss of gold due to more adpid handling, ami possibly 'some , reduction' of value oi the ground at places, as a precaution the value per yard may be pnt-at 2s, thus: 3000 yards per week at 2s ... £3OO 0 0 Less working'costs-47 10 0 Net-weekly return ... •',..•£252/10 0 . Giving an annual return, if full time p-orked, of, say 50 vyeeks, of £12,025. ' Mr John 1 Ewing,' of tjt. Bat bans, after ixaminalimi of the ,Claim, telegraphed on srd October, 1899, ns follows:—“Mclntosh md party's property, Mahinapua, on terms offered ■ i's best value ' have V seen recommend, acceptance; report next week. ■ ■ *■ ' ■ 362 .a