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-Prospectus Pad ffPECTU-s OF THB WAIKAIA GOLD MINING AND WATEB . BACE COMPANY, Ltb, SWITZERS. (To be Registered nnder " The Mining Com- .•. pany/s Aot, 1886.") CAPITAL ' TT. ... ... £8000. In 32,000 shares of 5s each, Of whicb 16,000 shares bave been taken up by the promoters,and are paid up to 3s 6d per share as the considera ion in full fs r the several rights transferred to t •» Company. The remaining 16,000 shares w . be offered to the public on the following t$ ms, viz : — ls per share on application, Is on allotment, and the bahnce as required in calls not'exceeding 6d per share at intervals of not less than a month, but it is not proposed to call up more than 4s per ahare. PROVISIONAL DIRECTORS: JHWAW MaTHESOUT, Esot, YTail.ai^ Jas Dean, Esq, „ H Wilson, Esq, . „ W Nation, Esq, „ B, Whittingham, Esq, Gore A J Pease, Eeq, Riversdale Thos McChesney, Esq, Invercargill W H Hall, Esq, „ John Murdoch, Esq, „ Petee Gilkison, Esq, „ bankers; National Bank of New Zsaland, Invercargill and Waikaia. SOLICITOR : Johh MTaoalisteb, Esq., Invercargill. BROKERS : R. B. Williams & Co, and William Young, Invercargill. SEORETARY, Pro. Tern : WifcLiAM Young, Invercargill. OFFICES : Dou Strhet, Inveroaegill. The Waikaia Gold Mining and Water Race j Company, Limited, is being formed witb the \ object of working a Licensed holding of 30 acres Bituated at Muddy Terraces,W aikaia, which field is well-known as a Bich Gold Mining District ; the gullies on either Hide of the Terraces having been worked a^ far as it is possible to obtain a cradle stream, and some claims on tho lower level having yielded by Tunnelling as much as £2000 per man. In addition to the licensed holding there is a Water Race, already partially constructed, and the rights of )0 heads of water which has been secured by the promoters, the approximate profits arising from water dues alone will not ba less than £60 per week. Up to the present time there has been no possibility of obtaining water for ground sluicing purposes on the top of the Terraces, as they are disconnected from any higher ground, and unless united by piping as is proposed to be done, which will entail an outlay of nearly £2300 to connect the Muddy and Scrubby Terraces. A considerable portion of the Muddy Terraces (which consists of hundreds of acres) has already been applied for on the strength of obtaining water from the Bace every available head of which c-n be readily sold, and showing at once the confi ence wivh which practical miners view the venture. Appended hereto is a report by W. Sharp, Esq., A.M. Inst , C.F., Lond., Superintending Engineer of the Invercargill Waterworks. Mr Sharp has inspected the course of races and flumes, and is of opinion that the present race can be considerably improved and additional head obtained. Several letters are appended from old miners and residents of many years experience in the district as to the value of tha Companj- 's claim, and the probability (or as it may be considered certainty) of the very lucrative market for any water that may be available for sale. Frcm the infoiMaauon available to the public in regard to the ground already worked, and being worked (the general character of which has already been practically proved beyond the question of a doubt) it is known to be some of the richest ground sluicing country in the colony. It would have been worked many years ago and carried a large -population, provided water s had been available, as it is kaown the wash dirt contains go din payable quantities from top to bottom, in some instances nearly 100 feet of gravel, and in places very payable for tunnelling it water were available within anything like reasonable distance. There is already i^ur miles of the race completed, and applicati n has been made for an additional six heads 0 f water, as it is fouud the demand is great er than originally anticipated. A large number of sh ar es have already been applied for, and as soon as 7000 shares have been taken up the Company will be registered fonhwith, as this will enable the Directors to proceed at once with the construction of the first portion of the scheme and thereby secure immediate returns to the shareholders REPOBT OW THE PEOPERT ES BY WM SHARP. A.M., Inst., C.E.; Lond., Superint3nding Engineer of the Invercargill Water Works. Invercargill, 28hb November, 1880. The Directors of the Waikaia Gold Mining and Water Race Co. Gentlemen, — In accordance with instructions I have the honour to report on the feasibility of bringing- in water for youi? Company. The Company have a first right of ten Government heads (or equal to 400 miner's inches) from tha Steep'e Oreek, which is situated to the north-west of the township of Waikaia, al*o a second application now pending in the Warden's Court for six additional heads. lam informed by persons who have known the district for many years (sse appended letters) that there is always sufficiency of water in the crtek in the driest summer. A race is already cut frora the creek, which it ia intended to use for some 4 miles, and to increase the capacity to carry sixteen heads ; at tbis point by tunnelling through a spur for 12£ chains, ten feet additional head is gained on the old race, and lhe distance materially shortened ; thence some 4f miles of new race including fluming and one pipe line across a deep gully carries the water into the Scrubby Terrace at a height of about 230 feet above the valley of Dome creek, and sufficiently so to command a large area of highly payable ground, at which point it ia proposed to leave ten of the sixteen heads, or equal to 30 heads at 8 honr shifts. For price to be obtained and nature of ground see appended letters. It is proposed to treat this as the first part of the echeme, but the Company intend as soon as possible to carry tho six remaining heads across tbe Dome "Valley by a pipe line or syphon about 100 chains in length to the " Muddy ," Terraces to work their own special claim of 80 acres,and a'so to accommodate a number of claims already taken up on the expectation of leasing the Company's water. Estimated Oobt op Fihet Proposal. 320 chains race cleaning and enlarging at 2s 6d £40 0 0 m chains Tunnel at £15 ... £187 10 0 30 „ Fluming at £4 ... £120 0 0 16 „ 24" pipe at £25 ... £400 0 0 840 „ Uew Race at 16 ... £265 0 0 Contingencies *47 10 0 £1050 0 0 Estimated Cost of Second Proposal. 100 chains 16£ " pipes at £39^ ... £1900 0 0 Blowoffi cocks, Penstocks, &n" &c 200 0 0 Race to claim from end of pipe line 'OO 0 0 Sluice boxeß, fluming, &c, &c, to claim 100 0 0 £2300 0 0 Estimated cost of firat proposal 1060 0 0 Total £3350 0 0 I am, Ac, iWILLIAM SHARP, A.M.I.CE. REPORT BY JOHN CAMERON. (Late Manager Glenary Station). . Waikaia, 22nd November, 1889. The Mauaoee Waikaia Gold Mining and Water Bace Co. Dear Sir— ln reply to your inquiry about the watershed of Steeple Creek, I may state that i am well acquainted with the source and water supply, and am thoronghly satisfied there is an abundant quantity of water always available during all eeasons to keep your raca for 1(5 heads constantly full.— Yours truly, JOHN CAMERON. REPORT B? ANDREW HALLEY, MINER. Waikaia, 22cd November, 1889. The Manager Waikaia Gold Mining and Water Race Co. Sir— ln reply to your inquiry as to th; gold / bearing ground on Scrubby Terraces, I beg to

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Page 1 Advertisements Column 5 Southland Times, Issue 11331, 12 December 1889

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