Page 3 Advertisements Column 7

Otago Daily Times, Issue 7002, 25 July 1884, Page 3

Prospectug. PROSPECHj3 OF THK >»■-'- OTAGO CENTRAL GOLD-MINING COMPANY (LIMITED). Gjpitad .. "~7 -~ ,£SOOO, In 10,0"0 Shares of 103 Each, Payable as follows :-Threepeueo por share on applies ftffi ypwf™ on allorment, and the balance in UUs of not more than Threepence per Share at intervals of not less than one month. It U not anticipated that more than Two Shillings per share will be required to be eMled up. P Provisional Directors : W S Cr Efflr^ \ Sc q- M/? R -' Uoilnt Ha >v. UUi'Fie, Esq , J.P. Mount Burster - ■ R.JOHNSTONS, Esq., Manager of the Mount Ida Water-race Trust J°S?s,* n°™ Ar?' E^ q>' ManaSer of «"> Cornish and Scotch G.M. Co., Mount Burster SAMUEL J. KVANS, Esq., Chemist, Naseby (With power to add to their number). Baskees: THE BANK OF NEW ZEALAND, and Branchea. Solicitor : S. E. M'CARHIY, Naseby. BHOKKR AND SKCaKTARY : LESLIE A. NOEMAN, Naseby. ' OFFioEa: At Earn street, Naseby. This Company Is formelfor the purpose of -opening out and working certain Auriferous Quartz-reef a existwg at Rough Kidge(onthe cast siao of Ida Valley) County of Maniototo, Otago, New Zealand * '' The right to work these reefs will be acquired by the Company by the purchase from the p,e3ent holders of the claim of their right, title, and interest therein tor the Bum of £80. This party of men (four in number) will then take 100 shareC each in the I Company, subject to the came conditions as other I BD&r6tlolQ6rß. • I From the lode in which it is proposed to commence operations several crushmgs havo been taken, amount-" ingm the aggregate to about 200 tons, the y elds from which have run from half an ounce to H-z of gold per to?'^! ch stltement can be verified by persons of reliability now. resident in the locality. VcruZng of 25 tons a few weeks ago yielded 17J 3 z retorted gold, and a further parcel of 45 tons is now in prods of being broken out for the mill. v^-aa 01 .The greatest depth worked is about 4016, whore the ground ;bscomes hard and very wet, rendering It unreruunerative to wotk by means ot shattß. It is thi nfore proposed to drive an adit from a low level a distance of 250 ft, which will crosa two or three other lines of reef before reaching the Otago Central, undor the present workings, at a depth of 100 ft; and, when extended onward, the said adit will give "backs" to be "stoped" cut of from 250 ft to 300 ft. The hill ahead of the present workings is intersected by a number of gold-bearing veins, from some of which crushinga have been taken yielding as high as TiIREB otoces psr ton. As tbey generally converge toward the reef proposed to be driven upon, it is evident that many of them will ultimately unite and form one continuous and very valuable body of ore. When a sufficient depth shull have been reached by the level, croBS cuts cau'd be taken north and south to test the many other lodea existing in the locality • and if the anticipations of those who know the country (men of considerable reefing experience) are only approximately verified, the results will he almost unprecedented in the annals of quartz-reefing in New Zealand. Geseral REMJRns.—The present proprietors are not in a position to work the claim with advantage to themselves, for the reason that they have not the means at their disposal for driving the proposed tunnel, hence the exceedingly low price demanded by thorn for the claim.-The Hough Kidge Company's battery iB but a short distance from the mine, and the cost of transporting stone for redustion has hitherto been 2s per ton. The climate la excellent, fuel abundant and very cheap, and work can be prosecuted throughout the whole of the year.-The proposed route of the Ota»o Central railway 13 distant.only a quarter of a mile from the claim.—Success for this Uompany would bring about a complete revival of the, quariz-reefiog industry in the county, and give mining matters a much-required impetus. This, and the modeat amount of subscribed I capital asked for, should recommend the venture to speculators and the public generally. Applications for shares, with a deposit of 3d pet I share, may be forwarded to Mr L. A. NORMAN " Secretary. Naseby. When no allotment is made the deposit will be returned in fill. Many persons have already sig ifled their intention of becoming shareholders, over 3'JOO shares having been already applied for, and it is requested that intending shareholder shall mike application'as eatly as possibla, a3 the Share List will close at an early date, which will be notified shortly. Prospectuses may be obtained from the Secretary ■ at the various branches ot the Bank of New Zealand Dunedin; or at the Chronicle Office, Naseby. If further or more detailed information bo required, it may be obtained on application to the Secretary 25jy PROSPECTUS • OF THH KAITAKGATA LAKE COAL COM- . PA.NY (LIMITED). ; To be registered under the provisions ol " The Companies Act 1882." ■ Capital .. .. ■„ £50,000, Divided into 50.0C0 Shares of £1 Each, Payable as follows :- One shilling per share on appli. cation, one shilling per share on allotment, and the balance as may be required, by instalments not exceeding two shillings per share, and at inter.als of not less than two months. Provisional Directors : Mr A. LANDELS, Balclutha Mr S. MOSLEY, Inch-Clutha Mr W. SAMSON, Wangaloa Mr J O. BKOWN, Lawrence I Mr JOHN TAUNTON, Lawrence 1 Mr R. STOUT, Dunedin : Mr W. P. STREET. Dunedin ' Mr GEORGE ESTHER, Dunediu Mr D. M.SPEDDING, Dunedin j Mr JOB WAIN, Dunedin Mr GEORGE VEEPHENSON, Dunedin I Mr H. BASTINGS, Dunedin Mr WILLIAM GREGG, Dunedin ' • Mr W. BABRON, Caverefca.m. Bankers; THE COLONIAL BANK OP NEW ZEALAND. Solicitors: Messrs SIEVWRIGHT, STOUT, & CO, Brokers : Messrs R. & A. J; PAKE, Dunedin. Intbrhi Secretary : ' Mr R. H. LEARY, Dunedin. This Company is prorroted for the purpose of working the valuable Beams of coal upon the property of Mr Jame3 Frazer, of Kaitangata. The property comprises about 1400 acres in the Kaitangata and Tuakitoto distric's, and the proprietor has, by an agreement datedMhe 9th day ot April 1884, made between himacH and Mr Herbert Davoiil, granted the exclusive right ol mining for and extracting coal upon the gaid property, with the right to use and occupy such space on the surface of the land as may be icqulred for buildings, deposit of waste, and such other purposes as may be requisite for the prosecution ol the woik of coal-mining, also the right of vising th 9 - water upon the property, for the period of 99 years at a peppercorn rental and a royalty of 6d per ton for largo coal aid 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 gI a railway from the mine to the Government lino. • By a. memorandum of agreement dated the 12th day of July 1884 Mr Deveril has assigned all his rights under the above recited agree- • ment to Mr Horace Bastings, a3 trustee for tha pro- ■ posed Company, in consideration of having allotted to linij or his nominee, 10,000 shares in tha Company, in respect of which the sum of 10a each shall be registered as paid up. No other consideration is to be Bivea either to the Promoters or the Provisional Directors. , . The coalfield is situated about five miles 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 line at Lovell's Flat, and estimates it, including a. locomotive, at, the sum of £18,723 6s 3d. The reasons which have influenced the promoter a in ' proposing; to connect (he mine by rail with the Government line at Loveli'a Flat instead of at Stirling ' are : a saving of lOd por ton in haulage to Dunedin, and that it is the only practicable route to the important farming districts of Wangaloa and the coast, and wiil consequently command the grain traffic from these districts, and thus augment tho earnings of the railway. . aho promoters havo had the coalfield tested under tho superintendence of Mr A. Ferguson, a certificated colliery manager under the mining regulations of Great Britain, whosa report, together with thO3e of MrC. E. Twining, the well-known mining engineer, and Mr A. M'Kay ol the Government Geological Department (acting under instructions from Dr Hector), and Professor Blaok's analysis are appended. From these reports it will be scon that the quality of the coal is unquestionable, practically unlimited in quantity, and, ' owing to its position, "can be wonfroinseveral different places at the 6ame time without interfering with one another" (Mr Twinicg's report) and at a minimum cost, as no expensive machinery will be required to work the mine, owing to the favourable situation ot the scams. Ooe 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 stveral other pointß at trifling cott ani little de- . lay, so th&t the output is not liable to be seriously interfered with by casualties that occur in coalmines worked under less favourable condition?. As very little outlay outside the cost of constructing the railway will be required to enable the Company to place Ihe coal in the Dunedin market, it is estimated that 10s per share will be sufficient to meet tho neceEeary outlay. As an indication of the probable return for tha capital to ba invested in this undertaking, it may be mentioned that an analysis of the revenue account of the Kaitangata Railway and Coal Company for tho past .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 natural facilities afforded for minipg and convoying the coal to market, will enable the Company to sell at a price that will command a ready eale. ~- The report and analysis above mentioned maybe pen ati the offlco of the Brokers. ■ ltjy Legal Kotioea. ■.IS BANKRUPTCY. Tho .OtaKO Daily Times la •.-1* duly appointed GAZSTTS for all ITOTICKB umldt tho Oeht ira apd Cif&dlfcora Acs. Government Notifications. rpSE '-ffiAQQ ffeAILY miM3B - ;jS- nig Baau &F?OZK£ED T;H 1 GAZ• BT T X rda sail ~ ' PROVUJTOIAL BISTSIOX . 0? ■' [.■ OTA Q 0 . SOB. THS T2*S 188S, . . for the PuKicatioa of all KOSIsTIOATIOKS which by any Act of tho Gsnoral.AEaeiafcly or by eny brdl. nance of tho Province oi OSigo, reqniie tote ir.eerted In the Provincial Gaso^«. ■ .-., t ( tti eUTTBN & COMPANY, ENGINEERS,' IRONFOUNDERS, And MANUFACTURERS Of FIREPROOF SAFES and STRONGROOM DOORS. Castings of every description supplied. Importers and Manufacturers of Bicycles and Tri> cycles. Workß-Csstlo strc'ot, Dunedin.