Page 1 Advertisements Column 6

Otago Daily Times, Issue 6790, 19 November 1883, Page 1

Prospectus. PBOSPECTUS oir tub T^TIGHTOAPS COAL AND EAIL _! WAY COMPANY (LIMITED). To be Registered under "The Companies Act 188! Amendment Act 1883." CAPITAL, £30,000, in 30,090 SHARES of £1 EACH, 26,000 Sharea to be issued at once, of which nunv bor the vendors take 10,000 fully paid up. 15,000 are now offered to the public, and the balance ot 6000 retained for future isauo. Payment aa follows:—One shilling on application, one shilling on allotment, and the balance in calls ol two shillings each, at intervals of not less than three months. It is not intended at present to call up more than ten shillings per share. Provisional Direotom : Mr Joseph Hatch, agricultural chemist, Invorcargill Mr Hugh Ccrswell, merchant (Carewell, White, and Co.), InvercarKill Mr William Johnston, runholdcr, Wrey's Bush Mr J. T. Martin, brewer, Invercargill Mr Alexander Cro b, merchant (Aitkln, Crosa, and Co.), Invercargill Mr William Conyers, C.E., Invercargill. Mr Joseph Johnston, ironfounder, Invercargill Mr William Sloan, merchant, Invercargill Mr Walter Guthrio, merchant (W. Guthrie and Co.), Invercargill Mr George Froggatt, merchant, Inrercarglll He John Dalgliesh, merchant (Murray, Dalgliesh, and Co.), Invorcargill Mr G. F. Martin (Managor N. M. _ A. Co.), Inverrairgill Sir B. W. Aitkin, merchant (Altkin, Cross, and Co.), Invercargill Mr John Roberta, merchant (Murray, Eoborta, and Co.), Dunedin Mr Thos. Surman, brewer, Invercargill Mr P. L. Gilkison, flourmiller (Fleming and Gilklson), Invercargill Mr E. Hutradine, wheelwright (Hußadine and Bath), Invorcargill Mr Henry Wilson, merchant (Cowpor and Wilson), Invercargill Mr D. L. Matheson, merchant (Matheson and Co.), Invercargill Mr W. J. Mollett, merchant, Invercargill Mr W. H. Hall, Merchant (Trow and Hall), Invercargill Mr Thomas Mac Gibbon, merchant, Mataura Mr J. R. Mills, auctioneer, Biverton Mr C. E. Twining, mining engineer, Dunedin Mr John Kingsland, leather merchant (J. Kingsland and Co.), Invercargill Mr J. .11. Smith, farmer, Bayawatnr Mr William Handyside, gentleman, Invorcargill Mr W. Souncas (Green and Souness, auctioneers), Gore Mr C. D. Moore, merchant, Winton Mr William Murray, merchant (John Sanderson and Co.), Melbourne., Solicitor : Mr Edward Tanner. Bankbrs: Bank of Australasia. Brokers; Invercargill—Messrs O. W. Brown, Wilson, Talne, and Co., Roderick Maclood, Charles Bout, Thomas Perkins, R. F. Cuthbertson. Dunedin—Messrs C. F. Block and J. B. Bradahawi Kelso -Mr William Murray. ' Tapanui—Mr W. Quinn. Gore—Messrs Green and Sounesa. Mataiu-a -Messrs Mac Gibbon and Sons. Wyndham—Mr I. W. Eaymond. Rlyorton—Mr J. E. Mills, 'inton—Mr O. D. Moore. Dipton - Mr W. H. Whitaker. Lumsden—Mr W. Southern. (Jueenatown—Mr F. H. Daniels. Otautau—Mr J. Gardiner. Blufl—MrW. Brazier Croagh. Gkhbbaii Managers : Murray, Dalgliesh, and Co., Invercargill. Mine Manager : Mr John Lloyd. Mima Engi.w.p. : C. E. Twining, Esq. Interim Skceetary: J. E. Hannah, Dee street, Invercargill. Thia Company la formed for the purpose of purchasing from the present proprietora and further developing the well-known Coalfields at Nightcaps, in the dißtrict of Southland and bringing a good and cheap fuel within the reach of the people. Coal is an essential in every household. The property consists of 470 acres (more or loss) of coal-bearing and good agricultural land, freehold, situated at and including the township of Nightcaps, about 120 sections of which have been sold at an average of £40 per acre, with the right to purchase^ further area of land, also coal-bearing, in blocks of not leas than 500 acres each, at a price not exceeding £5 per acre, two and three-quarter miles of railway (including sidings); also, freehold, securely fenced, laid with 401b steel rails, and the came in every respect as tho Government line to Wairio, of which it ia an extension, having been constructed under' the supervision of the Government Engineer, and Is maintained by the Government, who run their rolling-stock over it. The promoters have carefully examined the colliery rrurkings and the books of tho vendors, and have satisfied themaelvea that the property has, since the Company entered into full work, about 12 montha volbpinehii, J:-!J»~» «» s ™r cent, on the capital in'Xhe promotera, on behalf ef the public, have arrangod lor tho transfer from the vendors of all their right, title, and interest in the Baid coalfield and railway for the sum of £26,000, and aa showing the bona fide character of the undertaking, the vendora have agreed to retain as their interest in the new company, and as part payment of the purchase-money, 10,000 fully paid-up sharea, and further, to beai cost of eatablishing the now Company. The promotera are confident that if Dunedin and district can support four or five collieries, the large and increasing district within a radius of 100 miloa of Invercargill can well suppoit one good colliery. Firewood is daily becoming Bcarcer, and consequently coal is in growing demand. Farmers want it for threshing purposes, and householders for general use, and as manufactories are started in our midst they also will be largo consumers. This Company can Bupply coal for any or all of these purposes direct from the mine to any aiding on the network of railways throughout the district. To enablo overy householder to benefit by the inveßtment, the promoters decided to make tho shares £1 each, of which it will not be necesauy for some time to call upmoro than one-half, or 10a per share,' thua bringing it within the reach o! all. What the promotera wish to see ia every consumer a shareholder and every shareholder a consumer. Each extra ton of coal Bold lessens the cost ol production and tho price at which it can be Bold. The output is capable of being doubled or oven trebled at very littlo additional outlay, tho machinery and appliances in this respect being ample for Borne time to come. Since tho Colliery was opened, a little over a year ago, 16,000 tons of coal has been sold. The vendors have the contract for the current year for supplying all the. railways in Southland—showing that the qualities of the coal, both for Bteam and household purposes, aro appreciated. The coat of opening out tho workings haa necessarily been heavier than will bo required in future, considerable 6ums having been charged to current expenses which might fairly have been charged to property and plant account. The supply of Coal on the Company's property ia practically unlimited, having been carefully tested and proved in every direction. The Nightcaps is the key to the Southland coal-measures, being the nearest point by rail to the centres of population. Many aro under the impression that coal can be developed and brought into market at a trifling expenditure of timo and outlay. It has taken the vendors about three years' time and constant outlay to bring the mine workings to thoir present perfection. Good varnish and lubricating oil have been extracted from thj coal. These, together with the fireclay, are valuable and important factors in the future welfare of the property, and doubtless ere long will be utilised. For gasmaklngthe coal is about equal to Newcastle, one ton giving 7600 cubic feet of gas 17 5-10 th candlepower, which is -.Dove the test required for gas used in Melbourne ar other large to ens. The machine y plant, tramways, and underground workings are a lin good order. Everything has been done with a vi3w to future aa well aa present operaThe appliances for tipping the coal into trucka are not excelled in the Colony. A Fairbanks' weighbridge, weighing up to 25 tons, is close to the shoot; all trucks pasa over and are weighed on this, a record being kept in the Company's office immediately adjoining. The station-yard has extensive sidings both for coal and public purposes; also commodious goods-shed, all well suited for a large increase to present traffic. The Main road, Wrey'a Bush to Waiau, runs through the property at this point, and tho station is largely used by the settlers, to which thoy bring thoir produce and return with coal and other back loading. Alongside the-station-yard is the mine manager's house, consisting of six rooms, with water laid on, and every convenience; also three■ stalled stable, shed, harness, and storeroom, &c., all in thorough order. Near this it is proposed to bink a shaft for winding the coal to the surface, tipping direct into the trucks, and so still further lessen the cost of production. In tho township there is a good hotel, post-office (with bi-weekly mail to Wrey's Bush and Mount Linton), stores, &c, and the probability of the telegraphline being extended from Otautau at no very distant date. In addition to tho present outlets for consumption, the construction of the Winton-Nightcaps railwayline (already Burveyed) will, besides opening up a largo extent of good agricultural country, increase the output of coal by bringing it within easier reach of the Lake district, where it is certain to be largely used, there being littlo or no timber there. The promoters have no hesitation in Bayintr that a safer investment, capable of much greater development and profit, haa rarely been put before tho public of New Zealand. They believe that a concern of thia nature is more profitably worked as a Joint Stock Company, where all have an intorest in promoting (directly and indirectly) ita further development, and have every confidence that it will meet with a favourable reception from the public, and prove a remunerative investment. Aa illustrating tho success of similar companies, the promotera would point to the Kaitangata Railway and Coal Com pany, which this year has paid a dividend and bonus equal to 20 per cent., besides carrying forward a considerable sum. Copies of proapectuß and forms of application can be obtained from the Provisional Directors, tho Company's brokers, any of the branches of the Bank of Australasia, at the offices of tho Company, Esk street, or from the Undersigned. The Share List will close on December 31,1883. J. E. HANNAH, Interim Secretary. Dee Btreet, Invcrcarglll, October 1,1883. Ho Royal Km!. "OOYAL MAIL LINE OF OOAOHI2S (COBB _ CO.} She above Line of Coaches losve Lawroaco foi ex burgh, Clyde, Cromwell, Quoonatown, and all inSermediate places every Monday, Wednesday, and Friday, ou arrival oi _ci train fiom Dunedln, returning on the alSomate days. Leara Palmercion foi Haseby, Si. BaihMis, Opkls, and Clydo on Mondays and Fridays. H. C2A3O ft OO Hatd Cffim, Ptol til t U~3!Oai