Page 7 Advertisements Column 4

Otago Daily Times, Issue 382, 12 March 1863, Page 7

Public Companies. ~~ REVISED ~~ T>RO.S PE C T U 8 THE DUNEDIN WATEK WORKS COMPANY Limited Liability. To be Incorporated under the " Joint Stock Companies Act." Cawtai, £40,000, In 8,000 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 tlie Bank of New Zealand, upon application for shares. Afurther payment ot 10s. per share, payable on allotment. And all subsequent calls to be made at the rate ef £1 per share, at intervals of at least two months. Provisional Directors : John Hyde-Harris,Esq., M.L.C. A. Chetham Strode, Esq.. Resident Magistrate. W. H. CuUon, Esq., Chief Commissioner of Crown Lands. Thomas, Dick, Esq., Provincial Secretary. ■Tohn Cargill, Esq., Merchant E. B. Cavfiill, 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 J. T. Thompson, Esq., Chief Surveyor. Solicitor: J. A. J. MacGregor, Esqi Secretary: _. G. M'Combe, Esq. Bankers The Bank of New Zealand. The promoters of the Dunedin Water Works Company havinu now obtained a detailed Report of the practicability of introducing Water into Dunedin; tosether with Plans and Kstimate of the cost of the Works, feel much pleasure in drawing the attention ff the public to the fact, 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 iuvestmeut is^ejouddoubf. From the nbove mentioned Report and Plan s, the correctness of which has been certified to by /. T. Thomson, Esq., Civil Engineer, it will be seen tliat a supply of pure water can be obtained from springs issuing from Flagstaff 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 dsy. The altitude of the sources of supply is about 500 feet above the 1< vel of the sea, which will secure n plentiful supply to every house in Dunedin. Samples of the water have been analysed at the Laboratory of the Provincial Geologist, and prououueed to be essentially "soft and comparatively i^ure." The estiaiates of the cost of the works have also been carefully considered, and from them it will be found that the sum of £ JA,OOO will b« sufficient to cany 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 requir. d for carrying out the Works in the above mentioned Report. ■ It is therefore proposed that the capital shall be £40,000 iv 8,000 shares of £5 each, with power to increase the capital. A preliminary depo3Jt 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 be made at the rate of £1 per share, and at intervals of nnt less than two months. to soon as two-thirds of the capital ia subscribed, the works will be proceeded with; but if by or before the Ist June next that amount is not subscribed, the deposits will be retuined 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 bj a Board of Directors to bo elected at the first general meeting of the shareholders in terms of said Act. The qualification for voting 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 ot Directors. The promoters considering that the working classes and small householders are peculiarly interested in, imd will receive great, and lasting benefit from this project, anticipate that every such inhabitant of the Town will cot sider it his duty to at onco enrol him■iylf as a shareholder iti the Company. As a medium Jor the investment of Capital, no rea^oijable doubt can be entertained of the success or remunerative character of the scheme ; more particularly ns the Provincial Government of Otago passed resolutions during last Session, pledging itself to guarantee the Company six per cent, per annum, ou the paid up capital of tl><? Company, and to pass an Act empowering the Company to li-vy a compulsory Wafer rale. Um'erall tlips-favorable circumstances | ;hc undertaking cannot fail to be highly lemimera- i (ive. In a sanatory point of view the advantages which the inhabitants of Dunedin will derive from a superabundant supply of pure water cannot be estimated till actually within the reaah 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 having been iniroduced into Melbourne, an extensive-fire there is now almost an in possibility, while during the period that Melbourne -vas 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 fire in this thickly populated town, it may devastate more property in one niftht than the entire capital of the Company now übout 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 iOth March, on which day the lists will be closed. Dunedin, 17th February, 1363. FORM OF APPLICATION. To the Directors op the Dcnedix Watbk- ; works Cojipany. Gehtlemen, —I request you will allot me Shares in the above Company, and I hereby asree to accept that or any less number which may be allotted to me upon the terms' mentioned in published Prospectus. 1 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 this day of 1863. "XTEW 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.; Dwelling-houses, Warehouses, Shops, Stock.-in--Trade, etc., etc. MARINE: This Office insures Wool and Gold to Englavd 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 Chamber*, j Manse-street. AUSTRALIAN AGBICULTURAL COM I PAKY'S COAL, screened or smithy, de.ivercd at shortest notice, in city or suburbs, by the undersigned. JAMES L. &C, BURKE, j Princes-street, opposite Barracks j