NOTICES. PROSPECTUS OP THE WAIHO SYDBAULIC SLUICING AND WATEKKICE COY,, Ltd. (To be Incorporated under " The Companies 4ct, 1382,.") CAPITAL— £16,000 in 16.000 shares of '£leach. • r OF which Vendors agree to take 6000 paid-up shares ' for the purchase of their property, the remaining 10,000 shares being offered to the public on the following terms' viz:— is per '§hare oh application, Is6n allotment ajid balance a's required in "calls not Exceeding is per share per month. PROVISONAL DIRECTORS. L. Korthcroft, (Greenstone Sluicing ' CompEtnV) HpMtika. ' ''"" '' ''" J. M'WHi^TEii, Merchant, Waimea. H. R. LaatoY, 'Manager B\N.Z% Hokitika ft. L. Michel, 1 Merchant, Mayor of Hokitika. M. Pollock, Merchant, (director Greenstone Co.) 1 ' f ' ' '■• Hon. J. A. Bonar, M.L.0., Man. Dir Ross Utd. G.M. Co. C, Davey, Mining Manager, Mont dOr Compariy, Ross. ' ! r J • J. Gkjmmond, Mining Manager Ross 11 Utd. G.M. Co., Ross. J. Holmes, (Late Wa.ter-race Proprietor, Ehiniara.) ' LJ Skene, Butcher, Hokitika. JF.Ma^dl, Brewer, Hokitiktf. Wm. Patrick, Stationholderi Okarito. , J,. Donovan, Merchant, Okarito. W. Friend, Miner, Waiho. A. Gordon, Miner, Waiho. T. W Thompson. Miner Waiho SOLICITORS. * Messrs Beare & Gibson, Hokitika. This Company is being formed for the purposes : — (a) Of accepting an offer made to the provisional, directors 6h the 14, th dky of January, 1397 by Messrs W. Patrick,' J.'Don'ovan, A. Gordon', T. W. Thompson, W. Friend, L. Northcrof t, H. L. Michel, J. M'Whirter, J. D. Lynch, H. R. Lawry and J. F. Harper, the Vendors,' for the sale to 1 the Provisional Directors of the Company of (l) Two Sluicing claims, one of 180, acres, and one iof 50 acres adjoining each other, terrace ground 1 Situated at 'the Junction of the Waiho and Calary rivers, South Westland, (2), Registered Water-rage rights for 100 Government heads of watetV 'The consideration for the sale to be 6000 fully paid up shares in the Company when formed. (h) And for wording the said claim and. water-rights, constructing the Water-" J race, and'carrying on the business" of a Gtoldnttning 1 arid Water-race ''Company. The 1 area of 1 these' claim's is an ancient bedof'ihe Calary River, one of the principal branches of the Waiho, and one of the chief golden rivers of the Coast. The wash consists of splendid sluicing ground 100 to 150 feet <Wp with a drop or fall of 100 feet into the Waiho river. ' rer c he water for sluicing will be obtained f vom the Totara river from which an inexhaustible supply call be obtained, the Vendors 'having Secured the registered rights of 100 Government heads. J,t is intended to lift thY water fr.ora tkerTotara" river arid" io construct * a race If miles in length, to work the claims, (andeapable of carrying '$0 " 'heads of water), at an estimated cost of £7000 ; and it is anticipated that it will not be necessary W'caH, up' more than 15s per share. If required the 1 Company can at any time bring in an additional 40 heads of, Water ijrc-m the same source. The agreement, by way of offer, for the j sale 1 of the claim and water rights can be j perused at the offices of the solicitors of I tKb Company, and a consideration' has ! been duly paid, to the Vendors, by tHe Provisional Directors, to secure the offer and keep it open until the 31st day o£ March,' lß^7. l • Referring to the claims proposed %o be worked, M± D. Macfarlane, Goldfield's Warden for Westland, in a paper prepared by him says:— " Capital intelligently applied in ' conserving the water how dunning fa waste in' the' Waiho, promises big returns to the venture, the terrace and workings referred to can never Wwdrked to lad-vantage without the assistance' of capital and it would be to the interests of all concerned if labor and capital would so combine as to win the golden tretaure lying buried in the terraces ario; bid river beds of the Waiho Vajley." l Mr 'James Nesbitt a well-known miner and proprietor of a mining claim in the Ideality says in a special report : — " I have worked on the top side of this claim along the banks of a Creeir calied Arthur's Creek for a distance of 300 ft back on the high level. The higher and farther I worked the coarser the" gold goU,"s'6me places 2fdwts. I have also worked in several places along the front of the terrace and done fairly well, f>ut could not continue on wiin the terrace through want'of water. This claim would' have been worked many years' ago if the water w^as easily brought on, and I have bten 24 years in the district and from what I hkve Seep and know I believe you 'have a sj>lenciid property. The terrace is about half a mile wide on the t6p and has every afcpeatance of being ' the course of the Waiho river bed when on a higher level." The ' Provisional Directors need only! refer to the success that has attended the Mont^ d'tjr Company' to show how exj tremely' profitable sluicing operations are when conducted on a large scale. 3?he Mont dOr Company has been in existence for about 20 years and the gold won 'from its claims totals 3.0,2770z 12dwts' lsgrs "bringing in a cash return of £U5,0d0.' The dividends paid by this , Company now exceed £41,000, on a paid up capital of £10,860, and its shares to- | day are at a very considerable premium. All 'expenses in connection with the, acquiring of the claims and rights by the Venddrs, and the floating and registering ; of the Company to be borne by the Company. • Applications may 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 asi sociation'are'n6w in course of preparation, and drafts thereof, with the agreement made between the Vendors and the Provisional Directors may be seen at the office of Mark Sprof & Co., Hokitika, or 1 at the office of Messrs Beare & Gibson Solicitors,- Hokitika. J. F. HARPER Interim Sec.
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Bibliographic details
West Coast Times, Issue 10489, 5 February 1897, Page 3
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1,013Page 3 Advertisements Column 2 West Coast Times, Issue 10489, 5 February 1897, Page 3
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