Page 1 Advertisements Column 6

Otago Daily Times, Issue 7001, 24 July 1884, Page 1

Drapery. DROWK, SWING, & 0 0 Will Offer a THIRTEEN THOUSAND POUNDS STOCK OF MEN'S CLOTHING AND MERCERY On the 16th, at BONA FIDE BARGAIN PRICES. PRINCES STREET, Cornet of MANSE STREET. 81m Prospectus. PROSPECTUS KAITAKGATA PLAKE COAL COMPANY (LIMITED). To be registered under the provisions of " Ihe Companies Act 1882." Capital .. .. _ £60,000, Divided into 60,000 Shares of £1 Each, Payable as follows :—One shilling per share on application, one shilling per share on allotment, and the balance a3 may be required, by instalments not exceeding two shillings p:r share, and at intervals of not less than two months.' Provisional Dirbctoes : Mr A. LANDELS, Balclutha Mr S. MOSLEY, Inch-Clutha Mr W. SAMSON, Wangaloa Mr J C. BROWN, Lawrence Mr JOHN TAUNTON. Lawrence Mr R. STOUT, Dunedin Mr W. P. STREET, Dunedin Mr GEORGE ESTHER, Dunedin Mr ». M. SPEDDING, Dunedin Mr JOB WAIN, Dunedin Mr GEORGE sTEPHENSON, Dunedin Mr H. BASTINGS, Dunedin Mr WILLIAM GREGG, Dunedin Mr W. BARRON, Caversham. Bankers: THE COLONIAL BANK OF NEW ZEALAND. Solicitors: Messrs SIEVWRIGHT, STOUT, & CO, Brokers: Messrs R. & A. J. PAKE, Dunedin. Interim Skorbtart : Mr R. H. LEARY, Dunedin. This Company ia promoted for the purpose of workmg the valuable eeams of coal upon the property of Mr James Frazer, of Kaltangata. The property comprises about 1400 acres in the Kaltangata and Tuakitoto districts, and the proprietor has by an agreement dated ihe 9th day of April 1884, made between himself and Mr Herbert Deveril, granted the exclusive right of mining for and extracting coal upon the said property, with the right to use and occupy such space on the surface of the land as may be required for buildings, deposit of waste, and such other purposes as may be requisite for the prosecution of the woik of coal-miniug, also the right of usinj? tha water upon the property, for the period of 89 years, at a peppercorn rental and a royalty of Bd per ton for large coal and 2d per ton for email coal or dross extracted and sold. The proprietor of the property also agrees to give portions of his land required for the construction of a railway from the mine to the Government line. By a memorandum of agreement dated the 12th day of July 1884 Mr Deveril has assigned all his rights under the above recited agreement to Mr Horace Bastings, as trustee for the proposed Company, in coneideration of having allotted to mm, or blb nominee, 10,000 shares in the Company in respect of which the sum ot 10s each shall be registered as paid .up. No other consideration ia to be given either to the Promoters or the Provisional Directors. The coalfield Is situated about five milea from Stirling, and seven and a-half miles from the Lovell's Flat railway-station. A competent engineer has reported upon the cost of railway from the mine to the Government lino at Lovell's Flat, and estimates it including a locomotive, at the sum of £18,723 6s Sd. The reasons which have influenced the promoters in proposing to connect the mine ty rail with the Go, vernment line at Lovell's Flat instead of at Stirling are: a saving of lOd per ton in haulage to Dunedin, and that it is the only practicable route to the important farming districts of Wangaloa and the coast, and will consequently command tho grain traffic from those districts, and thus augment the earnings of the railway. ' " ■ • The promoters have had the coalfield tested under the superintendence of Mr A. Ferguson, a certificated colliery manager under the mining regulations of Great Britain, whose report, together wiih those of Mr C. E. Twining, the well-known mining engineer, and Mr A. M'Kay of the Government Geological Dopaitment (acting under Instructions from Dr Hector), and Profossor Black's analysis are appended. From these reports it will bo Eeen that the quality of the' coal is unquestionable, practically unlimited in quantity, and owing to its position, "can be won from several different places at the same time without interfering with one another" (Mr Twining'a report) and at a minimum cost, as no expensive machinery will bo required to work the mine, owing to the favourable situation of the seams. One of the advantages claimed for this mine is that flooding could not occur, and should the workings take fire at any time, coal could be procured from aevoral other pointß at trifliDg cost and little delay, so that the output is not liable to be seriou6ly interfered with by casualties that occur in coalmines worked under less favourable conditions. AsveryHttlo outlay outside tho cost of constructing the railway will to required to enable tho Company to place tho coal in the Dunedin market, it ia estimated that 10s per chars will be sufficient to meet tho necessary outlay. As an indication of the probable return for the capital to be invested in this undertaking, it may be mentioned that an analysis of tho revenue account of the Kaltangafa Railway and Coal Company for the paßt three years gives an average annual net profit of 30 per cent, upon its paid up capital. The very moderate royalty to be paid, and the natura} facilities afforded for mining and conveying tho coal to market, will enable tho Company to sell nt a price that will command a ready s^le; ' ' Tho reports and analysia above mentionod may be een at tho office of tho Brokers. igjy B»ENTALL'S CHAFF-CUTTERS, } CO.RN-CRUSHERS ' TUKNIf-CUTTERS' nnd HORSE-POWERS RICHMOND $ CHANDLEIV3 CHAFF-CUTTER and CORN-CRUSHERS HUNT It TAWELL'S HORSE-POWERS Bold by ARTHUR BRISCOK & 00