Page 4 Advertisements Column 1

Timaru Herald, Volume XXXV, Issue 2235, 19 November 1881, Page 4

Prospectus. NEW ZEALAND. (To be Registered under the " Joint Stock Companies Aot I860.") CAPITAL £400,000, In 80,000 Shares of £5 each : Of whioh 30,000 Bhares will be taken by the present owners as part payment for tn« properties. 15,000 vShares are now offered m New Zealand, a»d 35,000 m Au.tralia, which will be payable as fallows, Tit. : 5s on application ;6s on allotment ; balance at interval, of not les. than three month., and m amount, not «e»-din B 10. . p<r^.h-re. It is not anticipated, that mo-e than £2 1O» per Bhare will require to be oalled up. The present owners take their Shares paid np to £3 10s each, and will be liable with other Shareholders for the remaining £2 10. per Bhare. PBOVIBIOTUL DIBBCTOBS : DTTSSDIK. A J BURNS, Esq., Manufacturer JOHN DAVIE, E.g. (MoLandress, Hepbum, and Co.) , „. , ROBERT -GILLIES, E.g. (GiUies and Street) ALLAN HOLMES. E.g., Solicitor GEORGE JOACHIM, E.g. (CargiUa, Gibb.,. j ndCo.) i(ABNAcH CMG; President Chamber of Commerce JOHN MoGREGOR, E.g.. Civil Enßireer ROBERT PATERSON, Esq. (Paterion ■nd McLeod) EVAN PROSSER, Eiq. (Kempthoroe, Proiser and Co.) The Hon. JAMES BaLFOUR.M^L.O. 0. J. HAM, E.g., Mayor-EUet JOHN MoILWRAITH, E.g., City Councillor JAMES ORMOND, Eaq. (James Service and Co.) ROBERT HARPER, Esq. (R. Harper and Co.) The Hon. E. LANGTON, Temple Court THOMAS LOADER, E.g., Chairman Melbourne Harbor Trait GEORGE ROBERTSON, E.g., Publisher and Importer R. MURRAY BMITH, Esq., M.L.A. J. H. WHITE, E.q, Shipping Agent. BiMIiW : THE BANK OF NEW ZEALAND, Dunedin and Melbourne. Soucitobs : ALLAN HOMKS, E.g., Dunedin Me.irs MALLESON, ENGLAND, and STEWART, Melbourne. Gbkbeal Mahiqii asd Pscbbtaby : W. HAYDICKSON. Bbokbbs : M«.ir. LYELL * GO WAN, Melbourne Mrurs CLARKE & CO., Melbourne GILLIES, STREET, & HI3LOP, Dunedin. REID k GRANGER, Timaru. This Company has been formad for the purpoao of aoquiring and working on an extended basis the well-known coal-mining property at. Westport, New Zealand, now owned by the Weatport Colliery Company (Limited). That property eonai.ta of leases covering •rtas of over 4000 acres, all coal-bear ing, held direct from Government for a term of 09 years, with mine., railways, and other works tbereon m active operation, and is one of the moat magnificent properties m any of tbe An.tralaiian Colooie., whether aa regards the quality of the coal, the extent and thickne.s of the aeams, the economy of working, or the facilities for output and shipment. The development of the We.tport Colliery Company's buainesa, since starting work db.OQt 12 months ago, has bten so rapid, and the demand for the coal has become so great, as to call for the expenditure af more, capital than is at that Company's command, and an agreement baa therrfore been entered in'o to transfer the property, as a going concern, to this Company. It is proposed to expend additional capital as follows, namely : — On purchase of Steam Colliers £80,000 In opening up other portions of the Coalfields 20,000 Total £100,000 This expenditure is expected to produce an annual output of £50,000 tons. The pre.ent annual consumption m New Zealand is abont 600,000 tone, and published statistics ahow tbe con.nmption to be rapidly increasing. With extended works m full operation, the coat of coal put into trucks at the mines will be 3s 9d per ton, including royalty and all other expen.ei, to which must be added Tailway and shipping charges. Theie have been fixed at a maximum of 2s 9d per ton, nuking the eoit 6s 6d per ton f.o.b. at Weitport. The Government of New Zealand has intimated its willingness to reconsider the railway rates v the trade increases, and there it every reason to believe that conceiaions m this item to the extent of at Last Is per ton will be obtained, whioh would make the coit 5s 6s per ton f.o.b. at Westport. An annual trade of 160,000 tons can now be •eoured m New Z.alasd alone, at prioei leaving 11s 6d per ton f.o.b. at Weitport. The Company have now contract! with the Government for railways, &c, with Harbor Boards and Stetmahip Companiea, which absorb a large quantity ; and it is estimated that — without entering into aotive competition with New Boutb Wales coal — an additional i trade of 100,000 ton. can be done with Auitralia and Tasmtiiia for gat and other pur poses for wbioh tbe coal is ipeoially suitable, at pri.-es wbioh will leave a substantial profi'. Taking the figures above stated, and estimating tbe steamers to be w»rked at an ordinary profit, the trade will yield profi'.s equal to 80 per cent per annum on tbe called eapital ; but a net protit of only 2s p.r ton will •nable hand.ome dividends to be paid, and leave a large surplus to be carried into reserve. Tbe whole of the above estimates are bated upon a oontinuance of the present exceptionally low price of Newcattle oval. If, aa is generally anticipated, the prices at Newcastle are advanced at the close of thi. year, the profits will be. correspondingly inoreased. The Company will al.o be able to compete ■ucoes.fully and profitably m the Victorian, Sonth Australian, and Tasmanian markets with Newcastle coal as soon a. it ia deemed necessary lo extend the trade beyond tbe limits above mentioned, v lbs auperiir quality and loner co.t of output will more than compensate for the extra freight. The property is one of a mo.t valuable character, and offers the following undeniable advantages v a profitable inve.tment for eapital ; — Ist. The concern is a going on?, only requiring eitemion. 2nd. The Vendors take payment m Bbarej m the new Company for their out). y npon tbe properties, and will be lit, >]c for the balance of £2 10s the same a. . other Shareholders. Brd. Tbe coal is of suoh quality n. to creato almost unlimited demand, and i. m New Zealand rapidly dupl.ciDg Newcattle and other coals, whi-rever brought into competition with them. It i. a highly bituminou. oval of tbe bstt quality forgaa, ate»m, tmitby, foundry, and household purpo.e.. samples on be icen at the offices of the Broker.. 4th. The Government of >ew Zealand bave .prot otit a quarter of a million of money m Railway, Hnrbor improvrmenta, and Shipping applianca solely to open up the Weatport Coal trade; and by Special Act of Parliament all royalties derived from the properties ■nd profits from tha railway, are >et apart for Harbor improvements. 6th. The enterprise is free from the niaal ' riiks of coal-mining, as the coal caa be worked le»el free, With natural drainage and ventilation. 6tb. The estimated yield from tbfi field is over 100,000,000 torn from tbe seams nowvi.ible — running op to 63ft 3in m thickness, tbe avenge being over 20ft. This is not a matter? of^ guen, bat tbe potl faces, whioh are exposed on cliff*, have been actually meaiured and recorded by the Government geolof iiti.