Page 1 Advertisements Column 6

Otago Daily Times, Issue 6791, 20 November 1883, Page 1

Prospectus. PKOS^ECTt/S OF THB . .' ATIQHTOAPS GOAL AND IJAILJ_l WAY COMPANY (LIMITED). To bo Registered under "Tho Companies Act 1882 Amendment Act 1883." CAPITAL, £30,000, In 30,030 SHARES of £1 EACH. 26,000 Shares' to bo issued at onco,: of Which numbor tho vondord tako 10,000 fully paid up. . 16,000 aro now offered to tho public, and the balance of 6000 retained for future issue. Payment as follows:—One shilling on application, one shilling on allotmont, and the balance in calls of two shillings each, at intorvals of not less than three racnthi. It is not intended at present to call up more than ten shillings per share. Provibiohal Dirxctors : Mr Joseph natch, agricultural chemist, Inverc»rgi!l Mr Hugh Caruwell, merchant (Carawell, White, and Co.), Invercargill Mr William Johnston, runholdcr, Wroy's Bush Mr J. T. Martin, brewer, Invercargill Mr Alexander Cro a, merchant (Aitktn, Cross, and Co.), Invercargill Mr William Conyors, C.E., Invorcargill Mr Joseph Johnston, ironfotfndor, lnvorcarglll Mr William Sloan, merchant, InvtrcnrniU Ml Waltor Qutbrio, merchant (W. Guthrie and Co.), Invcrcargiil Mr George Froggatt, merchant, Invcrcargiil Mr John Dalglicsh, merchant (Murray, Dalgliesh, and Co.), liivercargill Mr G. t\ Martin (Manager N. M. _ A. Co.), Invorcargill Mr R. W. Aitkln, merchant (Aitkin, Cross, and Co.), Invcrcargil! Mr John Roberts, morchant (Murray, Roberts, and Co.), Dunedin Mr Thos. Surman, brewer, iDVercargill Mr P. L. Gilkison, floutmillor (Fleming and Gilkison), Invercargill Mr K. Huffadiue, wheelwright (Hufladine and Bath), Inveroarjiill Mr Henry Wilson, morchant (Cowper and WUson), Invercargill Mr D. L. Matheson, merchant (Mathcson and Co.), Invercargill Mr W. J. llottett, merchant, lovercargill Mr W. H. Hall, Morchant (Trew and Hall), Invorcargill Mr Thomas Mac Gibbon, morchant, Mataura Mr J. R. Mills, auctioneer, Riverton Mr C. E. Twining, mining engineer, Dunodin Mr John Kingsland, leather merchant (J. Klngsland and Co.), Invercargill Mr J. H. Smith, farmer, Eayowatnr Mr William Handyaide, gentloman, Invercargill Mr W. Souness (Green and Souness, auctioneers), Gore Mr C. D. Jlooro, merchant, Winton Mr William Murray, morohant (John Sanderson and Co,), Melbourne. Solicitor : Mr Edward Tanner. BASKHR3: Bank of Australasia. Brok_ks : Invercargill-Messrs C. W. Brown, Wilson, Tame, and Co., Roderick Mucleod, Sbarles Rout, Thomas Perkins, R. F. Cuthbertson. Dunedin—Messrs C, F. Black and J. B. Bradshaw. Kelso-Mr William Murray. Tapanul—Mr W. Quinn. Gore—Messrs Green and Souacas. Matacra —Messrs MacQibbon and Sons. Wyndhani—Me I. W. Raymond. Riverton—Mr J. R. Mills. Winton—Mr C. D. Moore. Dipton-Mr W. H. Whitaker. Lumsden—Mr W. Southern. Queenstown—Mr F. H. Daniels. Otautau—Mr J. Gardiner. Blua—Mr W. Brazier Creagh. GaNBSAL MANAQKBS '. Mnrray, Dalglicsh, and Co., Invcrcargiil. Mine Manager : * Mr John Lloyd. Misino Enginekr: C. E. Twining, Esq. . IKIBRIM SKCaKTART: J. E. Hannah, Dee street, Invercargill. This Company Is formed for the purpose of purchasing from the present proprietors and further devolo"!!;? the well-known Coalfloldo at Night'.aps, in the district of Southland and bringing a good and cheap fuel within the reach of tho people. Coal is au essential in every household. The property consists of 470 acres (more or less) of coal-bearing and good agricultural land, freehold, situated at and including tho township of Nightcapß, about 120 6cctions ot which havo beon Bold at an avorago ot £40 per aero, with the right to purchase> further area of land, also coal-bearing, iv blocks of not less than 600 acres each, at a price not exceeding £5 per ocro, two and three-quarter miles of railway (including sidings); also, freehold, securely fenced, aid with 401b steel rails, and tho same in every respect as tho Government lino to Wairio, of which it is an extension, having beon constructed under the supervision of the Government Engineer, and is maintained by tho Government, who run their rolling-stock over It. The promoters have carefully examined the colliery workings and the books of the vendors, and have satisfied thomselves that the property has, since the Company entered into full work, about 12 months ago, p»id a dividend of 8 per cent, on the capital invested (£22,000), and is capable of much larger development, Tho promoters, on behalf ol tho public, bavo arranged for the transfer from the vendors of all thoir right, title, and interest in the said coalfield and railway for the sum of £26,000, and as showing the bona fide character ol tho undertaking, the vendors havo agreed to retain as their interest in the new company, and as part payment of tho purchase-money, 10,000 fully paid-up Bharos, and furthor, to beai cost of establishing the new Company. Tho promoters aro .confident that if Dunedin and district can support four or five colllerier, the largo and increasing district within a radius of 100 miles of Invercargill can woll support one good colliery. Firewood is daily becoming scarcer, and consequently coal is in growing demand. Farmers want it for threshing purposes, and householders for general use, and as manulactories are started in our midst they also will bo large consumers. This Company can supply coal for any or all of theßO purposes direct from the mine to any siding on tho network of railways throughout the district. To enable every housoholdor tobenefit by the Investment, the promoters decided to mako the shares £1 each, of which it will not bo neco3B*ry for some timo to call up more than one-half, or 10s per share, thus bringing it within tho reach of all. What the promoters wish to ccc is every consumer a shareholder and every shareholder a consumer, Each oxtra ton of coal sold lessens tho cost of production and tho price at which it can be sold. The output 1b capable of being doubled or even trebled at very litsle additional outlay, tho, machinery and appliances in this respect being ample for some time to come. Since the Colliery was opened, a little over a yoar ago, 16,000 tons ot coal has been Bold, The vendors have tho contract for tho current year for supplying all the railwayß in Southland—showing that the qualities of tho coal, both for steam and household purposes, are appreciated. Tho coat of opening out the workings has necessarily been heavier than will be required in future, considerable sums having beon charged to current expenses which might fairly have been charged to property and plant account. The supply of Coal on the Company's property Is practically unlimited, having been carefully tested and proved in every direction. The Nightcaps iB the key to the Southland coal-m«asures, being tho 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' timo and constant outlay to bring the mine workings to their present perfection. Good varnish and lubricating oil havo been extracted from thj coal. These, together with tho fireclay, are valuable and important /actors in the future welfare of the property, and douttless oro long will bo utilised. For gasmakingtho coal 1b about equal to Newcastle, ono ton giving 7600 cubic feet of gas 176-10 th candlepower, which is idovo tho tost required for gas used in Mslbonrne ar other large toena. Tho machine y plant, tramways, and underground workings are a lin good order. Everything haa been done with a visw to future as well as present operations. The appliances for tipping tho coal Into trucks are not excelled In the Colony. A Fairbanks' weighbridgo, weighing up to 25 tons, is close to the shoot j all trucks pass over and are weighed on this, a record being kept in tho 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's Bush to Waiau, runs through the property at this point, and the station is largely used by the settk-rs, to which they bring their produco and return with coal and other back loading. Alongside the station-yard is the mine mannger'B houso, consisting of six rooms, with water laid on, and every convenience; also throe• stalled stable, shed, harness, and storeroom, _c, all in thorough order. Near this it is proposed to tink a shaft for winding tho coal to the surfaco, tipping direct Into tho trucks, and so still further lessen the cost of production. Iv tho town9hlp there is a good hotel, post-office (with bi-weekly mail to Wrey'a Bush and Mount Linton), stores, &c, and the probability of the telegraphline being extended from Otautau at no very distant date. In addition to the present outlets for consumption, the construction of tho Winton-Nightcaps railwaylino (already surveyed) will, besides opening up a large extent of good agricultural country, increaso tho output of coal by bringing it within easier reach of tho Lake district, where it is certain to be largely used, there being little or no timber there. The promoters havo no hesitation in saying that a safer investment, capable of much greater development and profit, has rarely been put before tho public of New Zealand. They believe that a concern of thi3 nature is rnoro profitably worked as a Joint Stock Company, where all have an interest in promoting (directly and indirectly) its furthor development, and have every confidence that it will moot with a favourable reception from the public, and prove a romunorativo investment. As illustrating tho success cf similar companies, tho promoters would point to tho Kaitangata Railway and Coal Company, which this yoar has paid a dividend and bonus equal to 20 per cont., besides carrying forward a considerable sum. Copies of prospectus and forms ot application can be obtained from tho Provisional Directors, the Company's brokers, any of the branches of the Bank of Australasia, at tho offices of the Company, Esk fltroot, or from the Undersigned. Tho Share List will close on Dccomber 21,1883. J. E. HANNAH, Interim Secretary. Dee street, InTcrcargUl, October 1,1883. Ho w ' ' Soys.l -®-^"- -^ (_OE3 fe 00.) V.h« ibovo L!:» of Caaeiiia loava _»trrn_ce .-o« os bsrga, Cirde, Cfo«;\Te!!, QuocnstoWD, and fii! Irforrsedisfs p!nc?o evciy Hants?, Wednesday, e>:s. FrSdt,y, oti arrlvsl o! fci train fMrs .Dunodln, retutDic;: on tho aliejnsio _&:--o. Lcavs PaluicraSoa Jcv Kwf.by., 3J. K-.ttuas, Ophij, «,ad Clyde oa Hondaya ami £"ii_i7S. 'J, CSAJfJ S 30 E»ii OffleSi Fub'. Sis t CiSßSsni?