Page 3 Advertisements Column 2

West Coast Times, Issue 10473, 18 January 1897, Page 3

PEOSPECTUS OF THE *. WAIHO HYDBAULIC y SLUICING AND WATER5 RACE COY,, Ltd. [. (To be Incorporated under " The Com- !- panics Act, 1882.") CAPITAL— £I6,OOO in 16,000 shares of 1 £leach. OF which Vendors agree to take 6000 paid-up shares for the purchase of their property, the remaining 10,000 ,' Shades being offered to the public on the following terms viz: — Is per share on application, Is on allotment and balance as required in calls not exceeding Is per share per month. PROVISONAL DIRECTORS. L. Isoutiicroi-'t, (Greenstone Sluicing Companj') Hokitika. J. M'Whirter, Merchant, Waimea. H. R. Lawry, Manager B.N.Z. HokitJka. H. L. MidilEL, Merchant, Ma^or of Hokitika. M. Pollock, Merchant, (director Greenstone Co.) Hon. J. A. Bonar, M.L.U., Man. Dir.,' Ross Uta. G.M. Co. C. Davey, Mining Manager, Mont dOr Company, Ross. J. GRrMMoxn, Mining Manager Ross Utd. G.M. Co., Ross. J. Holmes, (Late Water-race Proprietor, Kumara.) c' c SiiEKE, Butcher, Hokitika. . Mandl, Brewer, Hokitika. W.Ar. Patrick, Stationholder, Okarito. J. Donovan, Merchant, Okaritb. W. Friend, Minor, Waiho. A. Gordon, Miner, Waiho. T. W. Thompson, Miner. Waiho. SOLICITORS. Messrs Beare & Gibson, Hokitika. This Company is being formed for the purposes : — • («) Of _ accepting an offer made to the provisional directors on the 14th day of January, 1897 by Messrs W. Patrick, j J. Donovan, A. Gordon, T. W. Thomp- j son, W. Friend, L. Northcrof t, H. jj. Michel, J. M'Whirter, J. D. Lynch,, H. R. Lawry and J. F. Harper, the Vendors, for the sale to the Provisional' Directors of the Company of (1) Two ' Sluicing claims, one of 100 acres, and one lof 50 acres adjoining each other, terrace ground situated at ■ the Junction of the Waiho and Calary rivers, South Westland, (2) Registered Water-race rights for 100 Government heads of water. The consideration for the_ sale to be 6000 fully paid up shares in the Company when formed. '&) And fov working the said claim and water-rights, constructing the Waterrace, and carrying on the business of a Goldmining and Water-race Company. Che area of these claims is an ancient )ed of ihe Calary River, one of the prin- j ipal branches of the Waiho, and one of he chief golden rivers of the Coast. ! The wash consists of splendid sluicing {round 100 to 150 feet deep with a drop >r fall of 100 feet into tbc Waiho river, j Vhe water for sluicing will be obtained \ rom the Totara river from which an in- I ixhaustible supply can bo obtained, the Vendors having secured the registered ights of 100 Government heads. It is intended to lift the water from he Totara river and to construct a race f miles in length, to work the claims, andcanable cf carrying 60 heads of pater), at an estimated cost of £7000 ; .nd it is anticipated that ifc will not be tecessary to call up more than 15s per hare. If required the Company can at ,ny time bring in mi additional 40 heads >f water from the same source. The agreement, by way of offer, for the ] ale of the claim and water rights can be j lerused at the offices of the solicitors of I he Company, and a consideration has ; >een duly paid to the Vendors, by the i Provisional Directors, to secure the offer md keep it open until the 31st day of tfarch, 1897. Referring to the claims proposed to be vorked, Mr D. Macfarlane, Goldneld's iVarden for Westland, in a paper nre)aiedby him says:— " Capital intelligently applied in conserving the water | low running to waste in the Waiho, pronises big returns to the venture, the ter- j •ace and workings referred to can never De worked to ladvaniage without the assistance of capital and it would be to the nterests of all concerned if labor and sapital would so combine as to win the jolden treasure lying buried in the terraces and old river beds ol the Waiho Galley." | Mr James Nesbitt a well-known miner ihd proprietor of a mining claim in the | ocality says in a special report :— " I have i tvdrked on the top side of this claim along the banks 'of a Creek called Arthur's Greek for a distance of 300 ft back on the high level. The higher and farther I worked the coarser the gold got, some places 2fdwts. I huvo also worked in' several places along the front of the terrace and done fairly well, but could not continue on with the terrace through want of water. This claim would have been worked many years ago if the water was easily brought on, and I have bten 24 years in the district and from what I have seen and know I believe you have a splendid property. The terrace is about half a' mile wide on the top and has every appearance of being the course of the Waiho' river bed when on a higher level." The Provisional Directors need only r,efer to : the success that has attended the Mont dOr Company to show how extremely profitable sluicing operations are -when conducted on a large scale. The Mont dOr Company has been in existence for about 20 years and the gold won from its claims totals 30,2770z 12dwts 15grs bringing in a cash return of £115,000. The dividends paid by this Company now exceed £41,000, on a paid up capital of £10,800, and its shares today are at a very considerable premium. All expenses in connection with the acquiring of the' claims and rights by the Vendors, and the floating and registering of the Company to be borne by the Company, Applications taay be made to the provisional directors, to the Interim Secretary, or to any of the brokers appointed. In the event of an excess of applications, shares will be alloted pro rata. The memorandum and articles of association are no >v in course of preparation, and drafts -thereof, with the agreement made between tho Vendors and tbo Provisional Directors may be seen at the office of Mark Sprot & Co , Hokitika, or at the office of Messrs Beare' & G^bfeon, Solicitors, Hokitika. J. F.- HARPER Interim'Seo.