Page 7 Advertisements Column 5

Otago Daily Times, Issue 363, 18 February 1863, Page 7

Public Companies. REVISED T> £0 SP BO T U 8 THE DUNEDIN WATBft WORKS COMPANY Limited Liability. Te lie lacorporated under the "Joint Stock Companies Act." Capital £40,000, In 8,060 Shares of £5 each, with power to increase the Capital. A Preliminary Deposit of 10s. per share, payable to the credit of the Company's account with the Bank of New Zealand, upon application for shares. A further payment ot 10s. per share, payable on allotment. And all subsequent calls to be made at the rate of £1 per share, at intervals of at least two months. Provisional Directors : John Hyde Harris, Esq., M.L.C. A. Chetham Stroll, Esq., Kesident Magistrate. W. H. Cutten, Esq., Chief Commissioner of Crown Lands. Thomas Dick, Esq., Provincial Secretary. John Cargill, Esq., Merchant E. B. Cargill, Esq., Merchant. F. J. Alderson, Esq., Merchant. W. H. Reynolds, Esq., Merchant. James Paterson, Esq., Merchant. James Jones, Esq., Merchant. Henry Driver, Esq., Merchant. (With power to add to their number.) Consulting Engineer: : J. T. Thompson, Esq., Chief Surveyor. Solicitor: J. A. J. MacGregor, Esq. Secretary: A. G. M'Conibe, Esq. Bankers The Bank of New Zealand. The promoters of the Duuedin Water Works Company having now obtained a detailed Report of the practicability of introducing; Water into Dunedin; toeether with Plans and Estimate of the cost of the Works, feel much pleasure in drawing the attention of the public to the fnct, that there are no engineering difficulties whatever to prevent the Works being completed within 12 months ; and that the remunerative character of the undertaking- as an investment is beyond doubt. From the above mentioned Report and Plans, the correctness of which has been certified to by J. T. Thomson, Esq., Civil Engineer, it will be seen that a supply of pure water can be obtained from springs issuing from Flaastnff Hill, equal to about 700,000 gallons per day, a quantity sufficient for the requirements of 23,000 inhabitants, at the rate of 30 gallons each per day. The altitude of the sources of supply is about 500 feet above the level of the sea, which will secure a plentiful supply to every house in Dunedin. Samples of the water have been analysed at the Laboratory of the Provincial Geologist, andpronounced to be essentially "soft and comparatively pure." The estimates of the cost of the works have »lso been carefully considered, and from them it will be found that the sum of £34,000 will be sufficient to carry out the works recommended in the report. The Promoters of the Company have, however, deemed it advisable to fix the Capital at £40,000, although it will not be necessary at present to issue more shares than will be required, for carrying out the Works in the above mentioned Report. It is therefore proposed that the capital shall be £40,000 in 8,000 shares of £5 each, with power to increase tha capital. A preliminary depos't of 10s. per share to be. paid to the credit of the Company's account with the Bank of New Zealand, upon application for shares; a further payment of 10s per share on allotment ; and the subsequent calls to he made at the rate of £1 per share, and at intervals of not less than two months. So soon as two-thirds of the capital is subscribed, the works will be proceeded with; but if on or before the Ist June next that amount is not subscribed, the deposits will be retui ned to subscribers, under deduction of the preliminary expenses then incurred, which will be of limited amount. The Company will be incorporated under the "Joint Stock Companies Act," and be conducted by a Board of Directors to be elected at the first general meeting of the shareholders in terms of said Act. The qualification for voting1 at such first General Meeting shall be the payment of £1 per share, and shareholders holding twenty-five shares shall be eligible to serve on the Board of Directors. ; The promoters considering that the working-classes and small householders are peculiarly interested in, and will receive great and lasting benefit from this project, anticipate that every such inhabitant of the Town will consider it his duty to at once enrol himself as a shareholder in the Company. : As a medium for the investment of Capital, no reasonable doubt can be entertained of the success or remunerative character of the scheme; more particularly as the Provincial Government of Otago passed resolutions during last Session, pledging itself to guarantee the Company six per cent, per annum on the paid up capital of the Company, and to pass an Act empowering the Company to levy a compulsory Water rate. Under all these favorable circumstances the undertaking cannot ,fail to be highly remunerative. In a sanatory point of view the ad- j vantages which the inhabitants of Dunedin will derive from a superabundant supply of pure water cannot be estimated till actually within the reach of every individual In the single item of Insurance, it will benefit the owners of property by a considerable reduction of present rates of premium. In consequence of a similar undertaking haying been introduced into Melbourne, an extensive fire there is now almost an in possibility, while during the period that Melbourne was without its present ample supply of water, the loss of property by fire amounted to a much larger sum than would have constructed several water-works of immense magnitude, and if immediate steps are not taken to prevent such a calamity as an extensive firs in this thickly populated town, it may devastate more property in one night than the entire capital «f the Company now about to be established. In these respects it is impossible to estimate the value of the works which it is designed to construct here; but apart therefrom, and on sanatory and economical considerations, it is believed that an ample supply of pure water permeating the town is of sufficient urgency and importance to induce the Government and the public most heartily to support this undertaking. Application for Shares in the following form may be made to the Secretary, at his office, Switzer's Buildings, Princes-street, or to the Solicitor, on or before 20th March, on which day the lists will be closed. Dunedin, 17tU February, 1803. FORM OF APPLICATION. To inn Directors or tub Dunedin Waterworks Company. Gentlemeh,—l request you will allot me Shares in the above Company, and I hereby asrree to accept that or any less number which may be allotted to me upon the terms mentioned in published Prospectus. I beg to forward you at the same time a receipt by the Bank of New Zealand for £. , being the preliminary deposit on shares. Name of applicant Profession or Business Residence Number of Shares Signature - Dated tin's day of 1863. ■VTBW ZEALAND FIRE AND MARINE JN INSURANCE COMPANY. Capital, £250,000. Dunedin Office: Victoria Chambers, Manse-street. F I~R~E : ' Insurances may be effected in this Office upon Farm Buildings and Stock, Mills, Breweries, etc. j Dwelling-houses, Warehouses, Shops, Rtockt-in-Trade, etc., etc. MARINE: • This Office insures Wool and Gold to Englatd at London rates; also, takes risks either on Ships or Goods for voyage or time at current rates, for coasting or foreign voyages. E. CHALMER, Agent, Victoria Chambers, Manse-street. A USTRALIAN AGRICULTURAL COM'CX PANY'S COAL, screened or smithy, deJvered at shortest notice, in city or suburbs, by the undersigned. . . JAMES t. k C. BURKE, Princes-street, opposite Barrack*, ,