Page 7 Advertisements Column 4

New Zealand Times, Volume LXXI, Issue 4084, 23 June 1900, Page 7

ABRIDGED PROSPECTUS. Of THE CENTRAL MATA UR A GOLD DREDGING COMPANY, Ltd. (To be incorporated under “The Companies Act, ISS2. ”) CAPITAL £27,000 DIVIDED INTO 27,000 SHARES OF <£l EACH. 7000 fully paid-up shares are to be allotted iu part payment for the property to he acquired by the Company, and the remaining 20,000. Shares are ottered tor subscription on the following terms;—Cd per share on application, Gd per share on allotment, and the balance in calls not exceeding Is per share each at intervals of not less than one month. For (he reasons stated below it is not proposed to call up more than 8s per share unless and until tlie success of the venture has been proved to the satisfaction of (he Shareholders in General Meeting assembled and they decide to extend operations. ' ... BROKERS: :: . .1. .T. RAMSAY AND CO., Dunedin BARR, LEARY AND C0.,-Wellington. - THE OBJECTS OP THE ..COMPANY. . . . . ’ ' THIS Company is promoted for the purpose of acquiring and working mining areas (freehold and otherwise) and in particular the Special Dredging Claim now being worked by the Messrs Graham, situated on (the Matanra River, about a mile above (ho town of Gore; and also four additional claims comprising iu all about five miles of the river. The Company is also to acquire the Messrs Grahams' Dredge, and an efficient Prospecting Plant, consisting of pumps and cylinders - for sinking shafts. Prospecting.—lt lias long been known that the Matanra River is auriferous, and the reports appended to this Prospectus prove that tins particular jiart of the river, must contain considerable quantities of gold. The Promoters of the Company have taken ’unusual pains to satisfy themselves of (he payable nature of the ground. In very many mining undertakings investors can know little or nothing of the real prospects, of the venture; in this case, however, exceptional facilities existed for proving -the ground, as the Messrs Grahams’ Claim is actually being worked by a Dredge—not, it is true, au up-to-date machine, hut sufficiently good to thoroughly' prospect their Claim. It was thus possible to test the actual capabilities’of the ground, and in-order’ (hat; that might be done the promoters sent down, a thoroughly experienced dredge' master,(Air S. W. .Wilson,, late Manager of the Sew Hoy Gold Dredging .Company), who for six weeks superintended the dredging operations. They also arranged with Mr Ross (Managing Partner of the well-known Ngapara Companies) to visit and report on the properties.. Both these gentlemen, are well known in the dredging world, and it will be admitted that their reports (appended to prospectus) thoroughly justify the promoters in placing the property on the market. They show that a return of from 2i)oz to 3Uoz a week for each Dredge may confidently be expected. But when it is remembered that the present small dredge is obtaining an average equal to tOoz per week of 120 hours (vide Mr Wilson's report), whilst treating only half the stuff which a Dredge of an average'capacity would turn over, and iu spite of the fact that it is losing a considerable-quantity of fine gold which agood jjredge would save, (lie probabilities are that.the estimate will be found fa be considerably exceeded. - ’ ■ The attention of investors is also directed to. the. fact that there is nothing to prevent a Dredge working all the year roved;. aiulalso to the exceptional facilities with regard to fuel. The possibility of obtaining;fuel at less than 10s per ton is an extraordinary advantage. ~ , , - V'fA ’, -’■ Op=rrtions of the Company.—A special feature of-this venture.is that following out the safe lines which have been adopted by the. Promoters, it is proposed at first to place only one Dredge on the property, arid that ''nothing shall-be 1 done in the way of extendin'' the operations of the Company,:Jiy. building more Dredges ' until the success -of the first Dredge is assured. For -tbe.pnrpose of proving the rest of the property Graham’s Dredge will be available; u.. It. is accordingly provided in. the Articles of Association that not more than. Sscper-share is to be called up wit flout the sanction of the Shareholders expressed by an extraordinary resolution passed, by a general meeting.. 1 y, : ’ J ~ Further Option.—lu addition to the five, miles ;ot the river included in the property to he absolutely acquired by the Company as above-mentioned, the Company obtains from the Vendors an option over further-areas comprising five Claims situated in the vicinity of the Pyramid Bridge, 15 miles from Gore. ; ’ The terms of this option will permit the Company to thoroughly prospect these Claims before deciding whether to take over any one or more of them, and for this purpose tiie Company’s prospecting plant will he - available. , . If the option is exercised either of two courses may he followedA new Company mav ho formed to take over and work.the Claim .or Claims in respect of which the option is exorcised, or the Capital of the present Company may be increased. The consideration to the Vendors for the Claim's .included in the option has been fixed at such a rate as will enable the Company,; if it; is decided to float a new Company as above mentioned, to increase the loading .to that usually placed on prospected claims, and this may be taken in the shape mf fully paid-up shares in the, neve Company or Companies. *V,'“ , It is not anticipated that there will he any difficulty in getting a new dredge on the claim within eight months at, an estimated cost-of _ Only 8s to he called up in first instance.-—lt ..wßla-eadily be observed from the forc ,v oiti" statement that a capital of JE27.000 is too .-.large’ for the immediate neces-, sities of the Company,, that is, to acquire the lower Claims, Dredge, Plant, etc., as above-mentioned, and prospect the upper Claims.- It is estimated that in order to' provide the necessary funds for these purposes it'will only be necessary to call up Li"lit Shillings per Share. The balance of Capita) ;will remain uncalled unless and until the Shareholders decide to extend the operations of ibe Company and build: to the Vendors. —The consideration to the Vendors 'amounts to £5,100 Of which £4409 is to be satisfied bv the nllotiilent of 4400 fully paid-up shares, and flic balance in cash. The balance of the 7000 ’ paid-up shares namely, 2600. goes to the Claim holders as provided by the option agreements hereinafter,referred to ’ The Art ides of Association provide that in the event of tlie Company being wound up within twelve months after the first Dredge starts work (not being for the purpose of reconstruction or any similar purpose) the. holders of the Shares to he. allotted in pursuance' of the vendor’s agreement shall not he entitled to participate in the distribution of the assets of the Company until the subscribing Shareholders have received hack their Capital. The value of the vendors’ shares is therefore dependent on the success of the Company. synopsis; - ; A The attention of investors! is directed to the following points in connection with this undertaking:— , . 1. Five miles’of river with option over other five Claims. 2. Chum already prospected by a Dredge. A I). Ideal dredging ground. 4 Dredge can, work all the year round.. , G. Certainty of good returns and probability of handsome dividends. 7. Not more than Eight per Share to be called' np without sanction of Shareholders. 1 ' 8 In case of liquidation within twelve' months after first Dredge starts work, Vendors do not participate in distribution of assets until subscribed capital has been returned in full. , N.B.—Splendid sample of very coarse gold won by Grahams Dredge may be seen at the office of the Brokers. .v- ' , GENERAL REPORT ON THE CLAIMS. AIR D. .1. BEWS, Dunedin. Dunedin, 25th May. 1900. : I visVted. the Dredging Claim now being worked by MeSsrs Graham, and have to report ns follows: ; , The Claim is situated on the 1 Mat aura River, one mile above the town of Gore, and comprises one mile of the river. Graham Bros., have a small dredge at present working the Chum, and 1! was thus enabled to see the exact nature of the wash of this district, and also the class of gold. I found the Dredge was built by the Graham Bros, themselves, wlio are not practical engineers, and she could only lie looked upon as a ''prospector." They have been dredging ■ some eight months, and found the ground to he payable. I estimate they are only treating about thirty yards of stuff per hour, and getting an average return of lOoz per week. • Treated with a Dredge of the capacity mentioned below the same ground would produce from 20 to 30oz per week. ' . - r . The Matanra River is a splendid river for dredging. Unlike the. Molyneux there is nothing to prevent a dredge working all the year round. It is free from large vol is 0 f a ] oose nature and easily’treated, and from prospects taken contains a large percentage of fine gold. The bottom wash, which lies on a sandj bed, is tight. It is quite easily dredged and contains the heavier gold Gold,—From the gold won by Grahams’ Dredge, a; parcel of winch I myself cleaned, I find there are three classes viz.:— V . 1 A coarse sample from Idw.t down to a few grains. 2. Scaly gold similar to that won from the Molyneux. . . 3 Flue gold which is much lighter, and with the appliances pertaining to. Grahams’ Dredge is very difficult to,save, and a large percentage ot this class is at present lost. . • ... Dredge From the nature of the ground as above described, and the depth, as proved by the Grahams’ Dredge to be from 10ft to 18ft I would suggest a dredge of the following rapacity, viz., buckets at least 4 cubic feet, ladder to dredge 201 t, v. T ilh 6ft telescope for emergencies; a run of boxes, in place ot screen, about 4tt bin "“'j* e S *innte that a dredge of the above description should turn over;sixty-yards per hour, ft would save a. considerable quantity of gold that isi now being lost. . From Ihe general appearance the ground included in the options you hold on this river presents'the same features as the Claim now being worked. • I- am. , ' Yours faithfully, • , ROBERT ROSS, Dredge Owner, Alexandra.

VIORPORATION BY-LAW COMPELS EVERY HOUSEHOLDER TO HAVE A RUBBISH BIN. CITY CORPORATION'S Advertised Price, 10s 6d cash. CAMERON AND CHRISTIE’S Price, 9s 3d cash, DELIVERED within the City. N.B.—We tendered to the Corporation for these Bins at 9s lud in good faith. They, however, accepted a higher tender at 10s 6d—reason given, they were to be made iri Wellington; ours in Christchurch. Will the RATEPAYERS pay the extra Is 3d? We think not! Book orders PROMPTLY. Will be supplied in rotation as they arrive. Telephone 61. CAMERON AND CHRISTIE. 869 Lambton quay. ABB IT SKINS.—We are Cash Buyers of Rabbit Skins, in any quantity. Highest prices guaranteed. THE AMERICAN AND BRITISH AGENCY COMPANY, TSI Old Customhouse street. I OT. GEORGE’S JAM is the purest, therefore the beet.

GOLDEN GATE CAFE, LUNCHEON, OYSTER AND SUPPER , ROOMS, Opposite Government Buildings, Lambton quay. fITVFIE above establishment is now open, JL and will bo found replete in every respect. The furniture and fittings arc new and up-to-date throughout. The general public and commercial business men are invited to favour the Golden Gate Cafe, being opposite to general Government Buildings and convenient to the Parliamentary Buildings. Members are invited to call and favour us with their patronage. Good cooking, cleanliness and courtesy. REDMOND AND RADLEY, nr.a Proprietors.. OOLTMAN AND LORIMEE. EIRE! EIRE! EIRE I SALE! SALE! SALEI A2OOO WORTH OF WA'JLLiIES, CLOCKS. AND JEWELLERY. Now is yonr opportunity; don’t miss it. Premises coming down. Everything must he sold. „C2OOO worth. Every purchaser is promised a bargain. SALE COMMENCES MONDAY. MAY 14. COLTMAN AND LORIMER. 433 1 r IANO TUNING— , The Dresden Piano Company tone, egulate and repair pianos. All ark guaranteed.