Page 4 Advertisements Column 3

Oamaru Mail, Volume XV, Issue 4674, 22 May 1890, Page 4

PUBLIO NOTICES PROSPECTUS 05 THE '; T>ONA FIDE WATER-RACE AND ► SLOICING COMPANY (LIVUTED), MAEREWHEtfUA. NORTH OTAGO, To be registered under the Mining Companies Aot, 1882. Capital L6OOO, In 20,000 Bbarea of 6s each, of which 2400 paid up. to 5a are retained by the -vendors. The remaining 17,600 are offered to the public on the following terms :—6d per share on application, 6d .per share on allotment, and the balance In calls of not more than 3d per share at intervals of not less than one month, It is confidently anticipated that it will not be necessary to call np more th*n 4s 61 per share. 'I he whole of theprooeeds of the 17,600 shares, less brokerage for floating, will be available for the immmedlate construction of the Company's works, PROVISIONAL DIRECTORS : Thos. O, Howland, Mine Manager, Maerewhenna John Hntton. Farmer, Livingstone Hugh Wilson, County C'erk, Naseby Henry Aitken, C'amaru Peter. Banks, Provision Merchant, Oamaro Edward Grave, .-hip-Chandler, Oamara J. W. Humphrey, Provision Merchant, Oamara William Waddell, Merchant Tailor, Oamaru John £u leld, General Draper, Oamaru BANKERS; Colonial Bank of New Zealand (Oamaru) SOLICITORS : Messrs Hislop and CieJgh Oamaru. SECRETARY AND BROKSR : Charle3 F. Roberts, Livingstone an! Oamaru The Mserewhenua gold field has long been favorably known, as—when water was available —a remunerative s'.uiciDg field, extending over a wide area. Operations have been going on for nearly 20 years with varied results, the West Maerewheziua alwaya occupying the premier place in its yield of gold, relative to the amount of water available. During the paßt year the field has been proved to be of muoh greater area than had previously been anticipated, the oountry between the Bushy and Sheßpwash Creeks especially being of a highly payable character. The increase of water consequent on the completion of the Pioneer aad Howe's Races has led to the opening up of a number of payable claims lower down the spurs than had at an earlier date been known, proving the area : of payable ground to be vastly greater than was looked for in the early days by the most saogdlne. The comparatively small Increase in water supply in the spring previously noted Increased the sale of gold in Oamaru by 4000z5., or about 70ozi per month. The only available Bupply of water at a reasonable outlay csmmanding, the whole field is that held by tha promoters of this Company, consisting of a right to six heads from the south branch of the Maerewhenua and tributaries. As there are no rights granted lower down, a fsir supply will be available at all times Mr C. Y. O'Connor reports, under date May Ist, 1882 : —"I saw the creek at proposed source of race (imme-; diately below race now.contemplated) on the 23rd ultimo. Is was then running about t-ight heads." It is estimated that at least six heads will be available during eight months in the year. The demand is so keen that there will be no difficulty in selling at the current rates all the witer that oan be delivered on the. ground, especially as the reoo will command; the highest known auriferous ground 'at: Maerewhena. Mr O'Coonor also says, in the report already referred to :—" I should say that It is well wifchln the mark to .estimate th»t the ground in thiß case would support the proposed race—an eight-head race from Otekaike—for 15 or 20 years," Messrs Hutton, Faiquharson, and Howland, all of whom are, or have been practical miners for many years, have gone over the line of race, and report It to be not exceeding 14 miles In length, including several syphon flume 3 ; further, that the conree of the proposed race is exceptionally free from natural difficulties—the cutting, whilst it would be nearly all very easy, would at the same time be firm and sound Their estimates of cost of construction, apart from fluming, range from 12s 6d per chain to 20a 6d per chain a'l through. They also express the opinion that the cost of maintenance would be a mere bagatelle. The promoters believe that a minimum of four heads will always be available. Reckoning this to be the aversga supply throughout the whole year, the- gross returns will be i«bout L 35 per week, representing an amount available fur dividends equal to 30 per cent, per annum on a paid-up capital of LSOOO The confidence of the promoters in the thorough success of the scheme Is so great that they propose to deposit the scrip representing their Bhates in the hands of the Directors, to be held by them as a guarantee of gcod faith until a dividend shall have been paid, and, further, they (the promoters) will yield their right to Ehire in dividends till, Bay, S per cant, baa been paid on the paid-up capital subscribed. aocompanied by a deposit of 6d per share, to be forwarded to the Secretary, at Livingstone; or, care of Colonial Bank, Oamaru. Prospectuses, with forms of application, may be obtained from the Secretary, or from either of the Provisional Directors, or at the Colonial Bank, Oamaru. The Share List will be closed as soon as the requisite number of shares has been applied for. The vendors undertake to ref and all application fees in the event of the Company not being floated.

HOWARD'S Colonists' Double-Farrow Digging PLOUGH Readily convertible into an ordinary Plough by removing the digging attachments and fitting on ordinary mouldboards, whioh can be done in a few minutes by any farm hand. Large numbers have.already been sold in New Zealand. Orders now being taken for the above. Inspection invited. Sole Agbnt— TAMES RBID (formerly of Keld and Gray) HORSESHOES, GENERAL BLACK--BMITH, WHEELWRIGHT. AND MACHINIST, Plough Fittings for all makeß of Raid and Gray'a Double-farrow Ploughs. Fit Guaranteed. Entrances—from Tees-street by Roya Hotel Right-of-way, and from Tyne-street Elomlng and Hedley's Right-of-way. - ENEY WATSON, Irohmongbe, PLUMBEB, TINSMITH, ETC., TEES-STREET, OAMARU, Has Now Landing, Ex Star of Erin—--1 Case Hollis' B.L. Guna 1 Case Eley'a Ammunition 1 Case Whitehonse'a Unbreakable Bits Ex Western Belle, from New York—--1 Case Dlsston'a Hand Sawa 1 Case Morse Twist Drills 10 Crates Thermometer and Cylinder Chums 1 Case Dover Egg Beaters 1 Case Enterprise Meat Mincers 4 Cases Sharp's Axes 1 Case Half Axes 4 Cases Sharp's Hatohets 1 Case Granite Teapots, with NickelPlated Mounts 1 Cask Douglas Pampa Etc,, Etc., Etc.