SALE OF OWHAROA PROPERTIES.

Thames Advertiser, Volume XXVIII, Issue 8454, 13 June 1896, Page 3

SALE OF OWHAROA PROPERTIES.

(BY TKMXiKAI'H—OWN' CoRKESI'OSDEST. Auckland, Juuo 12, Tho demand for properties for tho London market still keeps up, and to-day n deposit was paid for the option of floating tho Dixon Lead Grand Union mines. This salo is of a satisfactory choractor, becauso tho purchasers undertake to expend the sum of £2000 upou the property in exploration work during tho time tho option lasts. Tho Dixon's Load Nos. l t 2, 3, 4, and 5, Bullanco licensed holding and tho Mitro special claim aro included in tho area of 210 acres that has boon taken over under tho name of tho Dixon's Lead Grand Union.

Tho properties ore situated at Owharoa, on the Wailaivhela river, near the Mnritana, Pandora, and Kob Hoy miuos. A deposit has beou paid for floating tho option on tho London markot on tho following terms: —That a company bo formed with a capital of £150,01)0 in £1 shares, working capilil £50,000, half in cash and half in resorvo shares. Tho holders of the option uuderlako to expend £2000 iu J exploration works during tho term of option. Mr 0. J. Hutch iusou is appointed to supervise tho carrying out of the work on behalf of tho syndicalo, which is a wealthy and powerful ono. Tlio local vendors aro to receive for their interest 25,000 fully paid up shares and

also £$M cash. It hos also been arranged that shares shall bo " pooled" in London for twelve montbs. Past experience proves this to bo a wiso precau-

tion, as it jjivos tho shares a bettor standing on tho Loudon markot.