Page 7 Advertisements Column 4

Otago Daily Times, Issue 397, 30 March 1863, Page 7

Public Companies. REVISED T> R O 8 PB C TU S THE DUNEDIN WATRR WORKS COMPANY Limited Aiabiutt. To be Incorporated under the " Joint Stock Companies Act." Capita* £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 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 montlis. Provisional Directors : John Hyde Harris, Esq., M.L.C. A. Chethain Strode, Esq., Resident 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: /. T. Thompson, Esq., Chief Surrey or. Solicitor: , J. A. J. MacGregor, Esq. Secretary : A. G. M'Combe, Esq.

Bankers The Bank of New Zealand.

The promoters of the Dunedin Water Works Company bavins* now obtained a detailed Beport of the practicability of introducing Water into Dunedin; together with Plans and Estimate of the cost of the Works, feel much pleasure in drawing the attention of 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 investment iSjbejond doubt. From the above mentioned Report and Plans, the correctness of wliich has been certified to by J. T. Thomson, Esq., Civil Engineer, it will be seen that a supply of pure water ran 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 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 ofthe Provincial Geologist, and pronounced to be essentially "soft and comparatively pure."

The estimates ofthe cost of the works have also 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 requir. d 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 thi capital. A preliminary deposit 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 not less than two months.

So soon as two-thirds of the capital is 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 retuincd to subscribers, under deduction of the preliminary expenses then incurred, which will be of limited amount.

ThcT 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 ofthe 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 of Directors. The promoters considering that the working classes and small householders are peculiarly interested in, and will receive great aud 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 ofthe 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 ot view the advantages which the inhabitants of Dunedin will derive from a superabundant supply of pure water cannot bo 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 having 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 fire in this thickly populated town, it may devastate more property in one night than the entire capital of 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 imponance 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 s!oth March, on which day the lists will be closed. Dunedin, 17th February, 1863.

FORM OF APPLICATION. To the Directors of the Dunedin Waterworks Company. Gentlemen, —I request you will allot me Shares in the above Company, and I hereby agree 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 Hank 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. I "VTEW ZEALAND FIRE AND MARINE J^ INSURANCE COMPANY. Capital, £250,000. Dunedin Office : Victoria Chambers, Manse-street. F iUTe: Insurances may be effected in this Office upon Varm Buildings and Stock, Mills, Breweries, etc.; Dwelling-houses, Warehouses, Shops, Stock-in-Trade, etc., etc. M A 5Tn E : This Office insures Wool and Gold to Englar d 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. AUSTRALIAN AGRICULTURAL COMPANY'S COAL, -screened or smithy, delivered at shortest notice, in city or suburbs, by the undersigned. _ JAMES L. & C. BURKE, 1 Princes-street, opposite Barracks. -