Page 3 Advertisements Column 9

Otago Daily Times, Issue 7003, 26 July 1884, Page 3

Prospectus. PROSPEOTU3 O TAGO S T|J a aOLD-MI N I N G Cim^ ■• ■■ .. £5000, In IG.OCO Shares of 10a Each, Payable as follows z-Threepence per share on applicaticn, Tliveepenca on alloiment, and the balanca in calls of not more than Threepence per Share; at intervals of notices than owe month. It U Lot anticipated that more than Two Shillings cer share will be required to be called up. . Provisional Directors : M. J. S. MACKENZIE, Esq., M.IT X., Mount Ida W. GUFFIfi, Esq , J.P., Mouat Burster R. JOHNSTON*;, Esq., Manager of the Mount Ida Water-race Trust ■^SftMR 11 tho Coml3hand JAMES MITCHELL, Esq . Builder, Naseby KO3ERT HOSIE, Esq. Naseby SAMUEL J. EVANS, Esq., Chemist, Naseby (With power to add to their number). Baksebs: THE BAKK OF NEW. ZEALAND, and Branches. . ■ Solicitor: S. E. M'CARrHY, Naseby. Broker and Sbcrbtarj- : LESLIE A. NOBMAN, Naseby. OmcKs: At Earn Btreet, Naseby. This Company is formed for the purpose of openimr out and working certain Auriferousi Quartz-roefTex ?r ing at Rough Ridge (on the east side of Ida jffi County of Mamototo, Otago, New Zealand •' The right to work these reefs win be acquired by the Company b/ the purchase from the piesent holders of tho claim of their right, title, and interest therein for the sum ot £60. This party of men (four in number) will then take 100 shares each in the Company subject to the same conditions as other shareholders. . From the lode in which it is proposed to commence operations several crushings have been taJcen, amounting in the aggregate to about 200 tons, the yieldsfrom which have run from half an ounce to Hrz of gold per ton, which statement can be verified "by persons of reliability now resident in the locality. A crushing of 25 tons a few weeks ago yielded 17Joz started gold and a further parcel of 45 tons is now in procss of being broken out for the mill. The greatest depth worked is about 40ft, where the ground bscoines hard and very wet, rendering it unremunerative to work by means of shatts. It is therefore proposed to drive an adit from a low level a distance of 250 ft, which will cros3 two or threa other ines of reef before reaching tho Ofcagb Central, under the present workiDga, at a depth of 100 f t; and, when extended onward, tho 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 veinß, from some of which crusliings have, been taken yielding as high as threb ounces Piß TON; As they 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 shall have been reached by the level, cross cuts csu'd be taken north and south, to test the many other lode 3 existing in the locality; and if the anticipations of those who know the country (men of considerable roeflng experience) are only approximately verified, the results will be almost unprecadented in the annals of quartz-reefing In New Zealand. GusßßAii Remarks.—The present proprietors are" not in a position to work tho 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 ,hem for the claim.-The Rough Ridge Company's battery is but a short distance from the mino, 'and the cost of transporting Btone for reduction baa-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 Otago'Central railway is distant only a quarter of a mile from the claim.—Success for this Company would bring about a complete revival of the quartz-reefing industry in the county, and give mining matters a much-required impetus; This, and the modest amount of subscribed, capital asked for, should recommend the venture to speculators and the public generally. Applications for shares, with a deposit of 3d per share, may be forwarded to Mr L. A. NORMAN Secretary, Naseby. When no allotment is made, the deposit will be returned in full. ■■ Many persons have already sig ified their intention of becoming shareholders, over 3rJOO shares having ■been already applied for, and it is requested that intending shareholders shall rnibe application as early as poaEibla, 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 of the Bank of New Zealand, Dunedin; or at the Chronicle OfHse, Naseby. . If further or more detailed information be required, it may be obtained on application to the Secretary. ■__ 25jy PROSPECTUS OF THE RAITAEGATA LAKE COAL COMPANY (limited). To be registered under tbe provisions of " The Companies Act 1882." CAPITA! .. .. _ £50,000, Divided into 60,000 Shares of £1 Each, Payable as follows:—One shilling per share on appll- . cation, 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 Directors: Mr A. LANDELS, Balclutha Mr S; MOSLEY, Inch-Clutha Mr \V. 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 D. M. SPEDDING, Dunedin Mr JOB WAIN, Dunedin Mr GEORGE bTEPHENSON, Dunedin Mr H. BASTINGS, Dunedin Mr WILLIAM GREGG, Dunedin Mr W. BARKON, Caversham. Bankers: • THE COLONIAL BANK OF NEW ZEALAND. Solicitors: Messrs SIEVWRIGHT, STOUT, & CO, Brokers: Messrs R. & A. J. PARK, Dunedin. Interim Secretary : Mr B. H. LEARY, Dimedln. This Company Is promoted for tho purpose of working the valuablo teams of coal upon the property of Mr James Frazer, of Kaitangata. The property compriues about 1400 acres in the Kaitangata and Tuakitoto districts, and the proprietor has by an agreement dated the 9th day ot April 1834, made between himself and Mr Herbert Devetil, granted the exclusive right of mining for ami extracting coal upon the said property, with the rijrht to use and occupy .such space on the surface of the land as maybe required for buildings, deposit of waste, and such other purposes as may be requisite for the prosecution of tho woik of coal-mining, also the right of usiDg the water upon the property, for tho period of 99 years, at a psppercorn rental and a royalty of 6d per ton for large coal and 2d per ton lor 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 188 iMr Deveril has assigned all his rights undor the above recited agreement to Mr Horace Bastings, as trustee for the proposed Company, in consideration of having allotted to him, or his nominee, 10,000 Bhares in the Company, in respect of which the sum of 103 each phall bo registered as paid up. No other consideration i 3 to be given either to the Promoters or the Provisional Directors. Tho coalfield is situated about five mile 3 from Stirling, and seven and a-half milea from the Lovell'sFlat railway-station.. A competent engineer has reported upon the cost of railway from the mine to the Government line at Loveil'a Flat, and estimates it including a locomotive, at the sum of £18,723 6s 3d. The reasons which have influenced the promoters in proposing to connect the mine by rail with tbe Government line at Lovcll's Flat instead ot at Stirling are : a caving of lOd per ton in haulage to Dnnedin, and that it is the only practicable route to the important farmiiig districts of Wangaloa and the coast, and wiil consequently command the 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 tho mining regulations of Great Britain, whosß report, together with those of Mr C. E. Twininjr, the well-known mining engineer and* Mr A. M'Kayof the Government Geological Department (acting under instructions from Dr Hector), and Professor Black's analysis are appended,' From these reports it will be seen that the quality of the coal is unquestionable, practically unlimited in quantity and owing to its position, "can be won from several different piacea at the same time without interfering with one another " (Mr Twiniug's report) and at a minimum cose, as no expensive machinery will be required to work the mine, owing to the favourable situation of the scams. One of the advantages claimed for this mine is that floodiug could not occur, and should the workings take fire at any time, coal could be procured from several other poiDts at trifling cost and little delay, so that tho output is not liable to be seriously interfered with by casualties that occur in coalmines worked under less favourable conditions. As very little outlay outside the cost of constructing the railway will be required to enable tbe Company to place the coal in the Dunedin market, it is estimated that 10s per shars will be sufficient to meet the necessary outlay. As an indication of the probable return tor the capital to bo invested in this undertaking, it may bo mentioned that an analysis of the revenue account of the Kaitangata Railway and Coal Company for the past three years gives an averag-e annual net profit of 30 per cent, upon ita paid up capital. The very moderate royalty to be paid, and tho natural facilities afforded for mining and conveying the coal to market, will enable the Company to 6ell at a price that will command a ready sale. The reports and analysis above mentioned may be eon' at tho office of the Brokers. I6jy Legal Notices. IN BANKRUPTCY. SOTIOE.~-The Otago Daily Times la L} duly appointed GAZETTE for all NOTICES antler the Debtors and Creditors Aci. IN BANKRUPTCY. RE ESTATE AUSTIN, LEWIS, & CO. ALL CLAIMS on the abovenamed Xli- Estate must be delivered at my Office, Rattray street, on or before 10th AUGUST 1884. *"""•»»* JAMES ASHGROFT, . IN BANKRUPTCY. """^ Estate of CHARLES STANLEY ALLEN. AGENEEAL MEETING of Oreditors in the abovenamed Estate will be held at my Office, Rnttray street, on WEDNESDAY, 30th July, at S p.m. . • Business important. , JAMES ASHCROFP, Official Assignee, Dunedin, 25th July 1881. 26jy LL FAI-fiiilly ItElli TiJIS U yea Kict a gcoil BK3iA» HAEEit. KcS ceo c 2 H. S. SEACSLOGK'S Ko. 0 FAXifHT ORIWSI COOEIUO EAKGKS. Full pwrttaala:' vcei lt?t on tpf l:ra:.sri. Inspection Of SisrSr inifioi •! W-r.^b.,,^ CrK- . f/ , »r«i»t. K™...?t!-. I^XCJCLSICm LUB UIOANT. — Doea .S2U not heat or clog tho bearings. Equal to but lubricating oil in tho market, and 25 per cent lowe* in p. Ice.- Sole Proprietors: , ARTUOR imtSOOR & CO.