Page 14 Advertisements Column 3

New Zealand Illustrated Sporting & Dramatic Review, Volume VIII, Issue 370, 26 August 1897, Page 14

The Subscription List is Now Open. Ralph’s Taupiri Coal Mines (limited.) Incorporated under “ The Companies Act, 1882,” and the Amendments thereto. CAPITAL —£20,000, in 80,000 Shares of 5s each. 45,000 Shares are now offered to the Public for Subscription, payable 2s 6d per Share on Application, and 2s 6d Three Months after Allotment. Share will then be fully paid up with no further liability. 15,000 Shares are held by the Company in reserve. 20,000 Shares, fully paid up, are taken by Vendors as payment for the property acquired. 80,000 With a view to obtaining as wide a distribution of the Shares as possible, the Promoters cordially invite applications for small parcels of ten shares and upwards. Directors : N. Alfred Nathan, Esq. (Messrs L. D. Nathan and Co.) Hon. J. A. Tole. William Hellaby, Esq. (Messrs R. and W. Hellaby). E. W. Alison, Esq. (Devonport Steam Ferry Co., Ltd.) W. J. Ralph, Esq. (Managing). Bankers : The Bank of New Zealand. Solicitors : Messrs Jackson and Russell. Secretary and Offices : Mr M. A. Philips (Morrison and Philips), Hobson’s Buildings, Shortland Street, Auckland. PROSPECTUS. THIS Company has been formed for the purpose of acquiring a fifty years’ lease of the well-known property at Taupiri, consisting of 2000 acres, known as Ralph’s Freehold, and of working the same as a Coal Mine or Coal Mines. About £lO,OOO has been spent by the Vendors in opening up and proving the coal measures over an area of 385 acres, and 12,000 tons of the finest quality of coal were actually taken out from the present mine and marketed. As the balance of the property is situated within the coal basin, and contiguous to working coal mines, it is reasonably assumed that the whole property acquired is coalbearing. Two shafts for winding and ventilating have been sunk to depths of 160 ft and 180 ft respectively, and are in perfect working order, so that when the new machinery has been erected mining operations can be undertaken without delay. Boring operations, extending over the 385 acres referred to (vide working plans), have proved—Firstly, that this is the true valley of the Taupiri coal, from which all other coal deposits in the district are outcropping. Secondly, that coal supplies of the very best quality are practically inexhaustible in a solid seam of bright, hard, clean household coal, averaging about 60ft in thickness. Thirdly, that the strata immediately overlying the coal seam is of a very hard nature, forming a perfect natural roof. No timbering will be required, as the coal pillars form more than ample support in the mine. The convenient position of the main shaft right on the railway at Huntly Station, and the natural advantages above referred to, are especially favourable to economy in working this mine. The Taupiri Extended Company, owning the adjoining Coal mine, with a total area of about 150 acres, have paid during the past twelve years over £30,000 in dividends to their shareholders. Their largest profits were earned at a time when they were obtaining Coal from Ralph’s property on royalty of Is per ton, and sales of their £1 shares (paid up to 16s) have been recently made at 28s 3d. The Taupiri Extended and Reserve Coal Companies freed themselves from the competition of Mr Ralph’s mine by leasing the property, and holding it unworked tor five years, at a rental of £862 per annum and rates. This lease expires in May next, and the Company now being formed will then start its mining operations under conditions most favourable to success, as the Taupiri Coal is rapidly advancing in favour for all household purposes, and the demand is steadily increasing. Government reports quote 14,000 tons as the increase during the year 1895-96, and the consumption of Waikato Coal will, to a certainty, be very largely increased when the railways to Thames and Waihi, which are under construction, have been completed. It was considered advisable to form the Company at once, so that the purchase of machinery and all necessary preparations for mining may be carefully undertaken in good time. The Vendors have so much confidince in the results of working this mine that they have agreed to accept the whole of their consideration in the Shares of the Company with a royalty of One Shilling per ton on the Coal taken out, and, as no promotion money is to be paid, the whole of the capital subscribed (less the usual brokerage and expenses of formation,) will be available so'ely for the objects of the Company. The estimates, which have been obtained for necessary working plant, are well within £2,000, so that the Company will start operations with a working capital largely in excess of all probable requirements. As a further proof of their confidence the Vendors will pledge themselves not to sell any of their shares below fl itation price for a periodof 12 months from the registration of the Company. The promoters wish it to be understood that they are not offering a speculative venture to the public, but a sound investment in a proved Coal mine, which, under proper management, must yield large and regular profits. The price at which the Shares are offered is sufficient evidence of the desire on the part of the promoters to distribute them as widely as possible amongst householders, and so to create a general interest with consumers in the success of the Company. It is also hoped that an arrangement may prove practicable under which all Shareholders consuming the Company’s Coal will be treated preferentially as customers. An agreement between the Vendors and W. B. A. Morrison, as Trustee for the Company, dated the 21st day of July, 1897, together with the Memorandum and Articles of Association, and the Plans and Reports, substantiating the foregoing statements in regard to the property, also the Estimates for Plant required, can be seen on application at the office of the Company, Hobson’s Buildings, Shortland Street, Auckland. Prospectuses and Forms of Application may also be obtained from the Company’s Bankers and Solicitors, or at the Office of the Company, Hobson’s Buildings, Shortland Street, Auckland. All cheques should be made payable to Ralph’s Taupiri Coal Mines, Limited, and crossed Bank of New Zealand, and for cash payments the acknowledgment of the Secretary will be necessary. Applications for Shares should be made to the Secretary or the Bankers of the Company, together with the amount payable on application. If no allotment is made, the deposit will be returned without deduction, and where the number of Shares allotted is less than the number applied for, the surplus will be credited iu reduction of the final amount payable. Auckland, July 31st, 1897.