Page 3 Advertisements Column 3

Otago Daily Times, Issue 8595, 10 September 1889, Page 3

I Tenders. /^TAGO EDUCATION BOARD. TISNDISUS wllllba received dp till TUESDAY, 17th hist., at 4 p.m., for the following WORKS:— BalcluUm—Addition to School Fapakalo-Shifting Residence School of Art, Dunedin—Painting. Plans and specifications for the Balclutha work may be Been at the School, Bnlolutha; for the Papakaio work at tho Middle School, Oamaru ; and for all the works at tho Education Office, Dunedln, P. G. PRYDE, 7s Secretary.

Prospectuses ~~r o^ s v ii c T^ v s Of • THE SEW HOY BIG BEACH GOLD MINING COMPANY (LIMITED). To be Incorporated under "'Hie Companies Act 1882." CAPITAL ... ... ... £160,000, Divided into 80,000 Shares of £2 each, Of which 48 000, paid up to 30s, and with n liability of 10s per share, are reserved for the Owners of His Claim (the present Shotovcr Hig Beach Gold Mining Company, Limited, and MeBBrB Sew Hoy and John Blair) as part payment of the purchase money; the balance, 32,000, being offered to the publia for subscription, as follows :— 2b 6d ncr share on application; 2b 6d per share on allotment; and the balance in calls not to exceed 2s 6d per Bhare per month. (When 30b per share has been called, all the shares of the Company will be equally liable, so that Is per share would produce £4000.) PHOVIBIONAL DIHKCTOES: Hon. W. J. M. LARNAOH, 0.M.G., M.H.R. SBW HOY, Esq. PETBR DUNCAN, Esq. J. A. BARH, Ksq. ROBERT NIMMO, Esq. D. M'INTOSH, Ksq. GEORGE TOMES, Esq. JOHN BLAIR, Esq. JAMES GORB, Esq. JAMES SHIEL, Esq. W. J. CROFT, Esq. Bankeks : THE COLONIAL BANK OF NEW ZEALAND. Secretary : THOMAS CALLBNDER, Esq. Brokers: FRATER BROS., Auckland. ARTHUR WARBURTON, Wellington. JAMIiS HENDERSON, Christchurch. RITCHIE & CO., Invercarglll. R. & A. J. PARK,) A. G. FENWIOK, )• Dunedln. THOMAS GROSE; J Kof^OUGLAS,}™^-. This Company is formed for the purpose of acquiring and working on an extended scnle the wonderfully valuable claim of the Big Beach Company on the Shotover River (known as Mr Sew Hoy's big dredging claim), together with three adjoining claims taken up by Mesßrs Sew Hoy and John Blair - the total area of the claims being over 260 acres, and extending for upwards of five miles along the River from Shady Creek (where in one day about 300 ounces of gold were taken from a private claim) to and including the richest portion of the Tucker Beach— the respective areas of each claim being as follows :— Big Beach Claim, 178 acres; The Evening Star and Morning Star Claims, 26 acres; the Claim below Shady Creek, about £0 acres; and the Upper Tucker Beach Claim, about 40 acres. It may be pointed out that if each of these claims had baen. floated into a separate company, the three ne'.v claims alone wculd be valued in the aggregate at more than the amount to be contributed by the public towards the capital of this Company. These four claims being all in one block, can be worked more economically under one management. It Ib proposed to put three or four large and Improved dredges on the claims without delay; and in the plans; already prepared for these the experience gained by working the present dredge has been fully taken advantage of. The new dredges will each be capable of lifting and treating nearly double the quantity of stuff without additional working expense, while .the cost of management will be considerably less in proportion. It is unnecessary t6 say anything as to the value of the Big Beach Company's property, the dredge at present working having amply demonstrated that this is one of the most valuable and permanent mining properties in New Zealand ; and when the shares in the Big Beach are already valued at over £160 cash by the investing public, it must bo seen that with the additional dredging area given by the adjoining claims acquired fromJMesßrs Sew Hoy and John Blair, the property becomes at once without parallel both for extent and value even in the rich Shotover district. Systematic testing, by sinking and boring of the adjoining claims, has proved that the gold deposits existing there are richer than any yet worked on the Big Beach, and as easily dredged, so that tills Company would be the enviable possessor of four large Bpccial claims of acknowledged richneßß, and all capable of being economically worked, so as to give splendid returns on the outlay entailed. The large quaitit'es of gold obtained every weelt by the pr«Bent dredge, from ground which is acknowledged to be the poorest part of the claim, is already matter of history in beach dredging, and need not be repeated here. It might be stated, however, that owing to the shortness of the ladder in the present dredge, it has not always been possible to reach the bottom of the waihdirt; and ground showing improved prospectß lias therefore had to be left for future working. Investors need not be told that the returns will be phenomenal when the additional dredges are at work for this Company on " maiden "ground, which has lately been proved by paddooking to yield over Idwt of gold to the dish of washdlrt. A contract has been entered into, dated 3rd September 1889, by the Shotover Big Beach Bold Mining Company (Limited) of the first part. Sew Hoy of the second part, John Blair of the third part, and Peter Duncan, as Trustee for this Company, of the fourth part, for the purchase of all claims and assets of the Big Beach Company and the several adjoining claims of Messrs Hew Hoy and John Blair, for the price of £3C,000 in cash (payment of which will be made by instalments), and the 48,000 shares abovementioned three-fourths paid up, This contract cau be inspected at the office of the Company's Secretary. Sufflcien! capital will be called up (for which it is estimated not more than 30s per share will be required) to enable the Company to at once put on the additional dredges, and if considered desirable to provide for utilising the valuable water power now running to waste on tho Company's claim.

PROSPECTUS Of the JTRANKTON BEACH DREDGING COMPANY, LIMITED. HORSESHOE BEND, KAWARAU EIVER. To bo Fegißtered under " The Companies Act 1882." CAPITAL ... ... ... ... ~. .... £12,500, In 25,000 SHARES of 10s each, Of which 12,500 Shares, credited as paid up to 7s (3d each, have been reserved as part of the consideration to be given to the Vendor for his Properties to be transferred to the Company, ohe remaining 12,500 being offered for Public Subscription on the following terms, viz. :— One Shilling per Share on Application, One Shilling on Allotment, and the balance (as required) in Callß not exceeding One Shilling per Share at intervals of not less than a month. The dredging plant, with possible contingent expenses, will necessitate an outlay of from £3000 to £3500, but it is not anticipated that more than 6s per Share will be required to be called up to place the Properties in first-class working order. Board of Directors; FERDINAND C. BATOHELOH, Esq., M.D., F.R.0.5., George street, Dunedin ROBERT M'LAREN, Esq., Kahanga, Queen street, Dunedin WILLIAM JENKINS, Esq., Merchant, Arrowtown SAMUEL JACOBS, Esq., Importer, Dunediu EDWIN A. PXRKE, Esq., Dunedin. Bankers : THE COLONIAL BANK OF NEW ZEALAND, Dunedin. Solicitor : EDWARD A. JOEL, Esq., Bond street, Dunedin. Consdltino Engineer : L. O. BEAL, Esq., C.E., M.E., Princes street, Dunedin. Auditor : WALTER HISLOP, Esq., Manager Perpetual Trustees, Estate, and Agenoy Company of N.Z. (Limited), Dunedin. Secretary and Officeb : J. ALWENT CHAPMAN, Princes Btreet, Dunedin, Brokers : J. A. CHAPMAN, Princes street, Dunedin LESLIE A. NORMAN, Princes street, Dunediu.

This Company is projected for the purpose of acquiring a Special Claim of 75 acres at the Horseshoe Bend, on the Kawarau river, adjoining the ground held by the Kawarau Big Beach Dredging Company (Limited), some little distance below the point where the famous Shotover river joins the The Board would draw attention to the fact that this is a True Beach Claim, with not a single gorge in its whole length, and offering splendid natural facilities for easy and profitable working. Inquiries from reliable authorities in the district will fully corroborate these statements, intending investors being invited to make the fullest inquiries respecting the value of the Claim. Tho Board, in viowof the report prepared after a vi'it of personal inspection by Mr L. O. Heal, 0.X., M B. (the gentleman who advised the probable results of dredging tho ground now held by the Shotover Big Beach Company), have every reason to believe that the Company's operatious will be highly remunerative. To quote Mr Beal's report. " the claim ia an exceptionally good ouo, and aB a dredging claim equal to the best on the Shotover." From Mr Beat's report it will be seen thnt ho carefully tested the washdirt in theolaim, and found it to carry gold in the proportion of 12gr of gold per ton. Although this yield would probably result in splondid returns to shareholders, it must, in justice, be noted that thase prospects were principally taken from a depth of from Ijft to 2ft below the surface, whereas as a matter of fact, experience shows that the heaviest and richest gold is really near the bottom. Mr Beal calculates the washdirt will, on an average yield 12k!' of gold per tou. He suggests the building of n dredge which will raiße and treat at least 1000 cubic yards per day, or about 50 tons an liour The Board how<^ or, purpose, so soon as twothirds, of the Bhares offered to the public have been subscribed, to enter into a c .ntract for a dredge can-ible of tr. ating at least 75 tons of dirt an hour. Accepting Mr ISeal's figures as approximately representing the daily opacity ol the dredge, and basing calculations on that, gentleman's figures, tho following results are arrived at :— liaising 1000 cubic yardß of gravel per day of 21 hours (or 6000 yds per week), of an average value of 12gr, give a gross return of 72,000gr of Ki>ld, 150oz per week's work, approximately worth ... •■• ••• ...£582 Against which must he placed a weekly expenditure of ... ... ... ... 60 Leaving a weoklj. profit of say) ... ...£502 The advantages of the present proposal need not be further enlarged on. The Board therefore refer investors to Mr Beal's report, which they believe may beaccepted as being of a cautious character. The Articles of Association provide that, in the declaration of profits, dividends shall be payable per share, ri'gardk-Bs of the amount paid up on either vendors'or contributing ehareß. A contract, dated the 27th day of August 1889, has been entered int1: lei ween Edward Pyrke, of theone iinrt and J. Alwcnb Chapman (cm behalf of the Commnv) of the other part, and may be inspected at the office of Mr Edward Joel, solioitor, Bond Blreet, Dunedin. Other contracts have been made, but as the