Page 19 Advertisements Column 3

Otago Witness, Issue 972, 5 September 1889, Page 19

Late Advertisements. PROSPECTUS! of ; THE SEW HOY Bia BEACH GOLD MINING COMPANY (LIMITED). To be Incorporated under " The Companies Act 1882." CAPITAL ... ... ... £160,000, Divided into 80,000 Shares of £2 each, Of which 48,000, paid up to 30s, and with a liability ; of 10s pur share, are.reserved for the Owners ot the Claim (the present Shotover Big Beach Gold Mining Company, Limited, and Messrs Sew Hoy and John Blair) as part payment of tho purchase money; the balance, 32,000, being offered to the publia for subscription , as follows:— 2a 6d per share on application ; 2s 6d per shire on allotment; and the balance in calls not to exceed 2a 6d' per share per month. (When 30s per share has been called, all the shares of the Company will be equally liab'e, so that Is per share would produce £1000.) Provisional Directors : Hon. W. J. M. LARNACH.O.M.fh, M.H.It, MAURI OB JOKL, Wsq. SKW HOY, Esq. PKTKR DUNCAN, Esq. J. A. BARB, Ksq. ROBKRT NIMMO, Esq. n. M'INVOSH, VBqV 8 q GKOKGK TOMES, Esq. JOHN BLAIR, Ksq. JAMKS GOIMS, Ksq. JAMES SHIEL, Ksq. W J. CROFT, Esq. Bankers : THE COLONIAL BANK OF NEW ZBALAND. SUCBBTARY ; THOMAS CALLENDER, Esq. BROKKR3 : FRATER BROS., Auckland. AUTHOR WARBURTON, Wellington, JAMKS HENDERSON, Christchurch. RITCHIE & CO..lnvercargill. R. & A. J. PARK, ) A. G. FEN WICK, } Dunedin. THOMAS GROSK, } W. H. QUICK, 1 „ „ LkWSON & DOUGLAS, /-Melbourne. This Company is formed for the purpose of acquiring and working on an extended scale the wonderfully valuable.claim of the big Bench Company on the Shotover River (known as Mr Sew Hoy's big dredging claim \ together with three adjoining claims taken up by Messr9 Sew Hoy and John Blair - the total area of tbe claims being over 260 acres, and extending for upwards of five mileo along the River from Shady Cieok (wh^re in one day about 300 ounces ot gold were taken from _n private claim) to and iucluding tho rjchesb portion of the Tucker Beach— the respective areas of each claim being as follows :— IMg Beach O'aim, 178 acres; The Evening Star and Morning Slar Claime, 26 acres; the Claim below Shady Creek, about 20 acres ; and the Upper Tucker Beach Claim, about 40 acrea. It may be pointed out that if each of these claims had been floated into a separate company, the three new claims aloue wcnld be valued hi 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 woiked more economically under one management. It is 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 gaioed by working the present dredge has been fully taken advantage of. The new dredges will each be capable o^ lifting and treating nearly double the quantity of stuff without additional working expense, while the cost of - management will be considerably lees in proportion, i It is unnecessary to say anything as to the value of tho -,Big .Beach Company's property, the dredge at present working having amply demonstrated that this i - one of the most valuable and permanent mining pro- cities in JN'ew Zealand ; and when the shares in the Big Beach are already valued at over £160 cash by the investing public, it must be seen that with the additional dredging area given by the adjoining claims acquired from Messrs Sew Hoy and Jdhn Blair, the property becomes at once without parallel both for extent and value even in the rich Shotover d strict. 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 this Company would be the enviable possessor of four large special claims of acknowledged richnets, and 'all capable ot being economically worked, so as to give splendid returns on the outlay entailed. The large quantifc'es of gold obtained every week by the present dredge, from ground which is acknowledged to be the poorest part of the claim, is already matteu ot history in beach dredging, and need not be repeated here. It might be stated, however, that owing 1 to the shortness of the ladder in the present dredge 1 , it has not alwayß bfen possible to reach the bottom of the washdlrt ; and ground showing improved prospects has therefore had to be left for future working. Investors need not be told that the returns will be phenomenal when the additio 'al dredges are ; at work for this Company on " maiden "gcound, whicli has lately been proved by paddocking to yield over Idwfc of gold to the dish of waahdirfc. ,- . i A contract has been entered into, dated 3rd September 1889. by the Shotover Big Beach Gold Mining Company (Limited) of'the first part < Sew Hoy of the second part, John Blair of the third part, and Peter Duncan, as Trusteefor 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,00j in cash (payment of which will! be made by instalments), and the 48,000 shares abovementioued three-fourths paid up, This contract can be inspected at the office of the Company's Secretary. Sufficient 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 dredgee, and if considered desirable to provide for utilising the valuable water power now running to waste on the Company's claim. The Targe area of the claims —more than twothirds of which is virgin ground, and nearly tha whole of the total area having been proved by boring and other means of prospecting to be easily dredged— gives assurance thafc the immensely profitable undertaking begun by the Big Beach Company can be carried on for many years. While assuming that the virgin ground yielda no more than that already worked, and the new dredges (designed to lift double the amount of stuff) give no better returns than the one now in operation, the whole of the Company's dredges should produce as a minimum from £60,000 to £7u,000 worth of gold per annum. Dividends from the earnings of the present dredge will, from the registration of the Company, be paid in proportion to the amount credited as paid up per share ; but by the time the other dredges are at work, it ia anticipated that all the shares will be on an equal footing This Company shall bear the expense of floating, registration, and all necessary preliminary expenses. The Share List will be Closed as soon as the full numbpr of shares have been applied for. Priority of application will be considered in the allotment of shares. Applications for Bhares will be received by any Branch of the Colonial Bank of New Zealand, the ComDany's Brokers, or by THOMAS CALLENDER, Secretary. Rattray street. Dunedin, 3rd September 1889. 4s FA E M S ! On TAIERI PLAIN, OTAKIA, and PENINSULA TO LET. TENDERS will be received by JOHN REID and SONS, up till noon of MONDAY, 23rd September, for the LEASE of Nine Farms on the Taierl Plain and One in Otakia, the property of the late W. T. Shand, Esq. ; also, Three Farm 3on Otago Peninsula. Particulars with D. T. SHAND, Esq., Broadacres, North Taierl ; Mr BEATTIE, the Manager, on the Estate, close to Otakia Railway station ; or JOHN REID & SONS, 27an. Eond street, Dunedin.