Page 1005 Advertisement 1

Progress, Volume VII, Issue 4, 1 February 1912, Page 1005

ABRIDGED PROSPECTUS OF Moehau Granite Quarries limited. {To be Registered under “ The Companies' Act, 1908.”) For the Working of the Stone at the Moehau Granite Quarries, Coromandel Peninsula, for supply of BUILDING STONE and SUPERIOR ROAD METAL, of which Auckland stands in such need. CAPITAL - Divided into 5,333 Ordinary Shares of £1 each fully paid up, £5,833, and 19,667 7 per cent. Cumulative Preference Shares of £1 each. Now offered to the public, the proceeds of the sale of which will be available for the purchase ■of the plant required for working the property, for the gradual payments to the Vendor, and the balance will be for working capital. It is probable that only 10/- per share of this will be required to thoroughly establish the business, balance being available for any extensions .. .. .. .. ~ .. £19,667 £25,000 Payable, 2/6 on Application, 2/6 on Allotment, and the balance as required by 2/6-Calls, with at least a month’s interval between each call. NOW OFFERED TO THE PUBLIC--19,667 Shares, ranking as 7 per cent. Cumulative Preference Shares until 35 per cent, has been paid in dividends thereon, when preference ceases. The consideration for which the property will be transferred to the Company, unencumbered, by the Promoter and Vendor, - £25,000. Mr. R. R. Hunt, has been settled at 5,333 fully paid up Ordinary Shares of '£l each, issuable gradually in terms as set forth under ‘ ‘ Contracts ’ ’ page 4 .. .. .. £5,333 And cash £3,000, payable to him on deferred terms as set forth under “Contracts,” page 4 .. .. .. .. .. £3,000 Total consideration .. .. .. .. .. .. .'. £8,333 While the property has been valued by Mr. F. Rich, C.E., at £ls 000. Provisional Directors.* MR. H. E. PARTRIDGE, ■of Messrs. H. E. Patridge & Co., Ltd., Auckland, Merchant. ' MR E. H. CHAMBERLIN, Sheep Parmer, Ponui Island. CAPT. GEORGE MeKENZIE. Shipowner, Auckland. MR. GEORGE T. NICCOL, ' Shipowner, Auckland. • Brokers: A Commission of 5 per cent, will be paid by the Company to any person selling shares of the Company. TRUSTEE FOR THE COMPANY AND SECRETARY PRO TEM: PERCY S. BUTLER, Victoria Arcade, Auckland. This Company is being formed to purchase from Mr. R. R. Hunt, Auckland, Quarry Owner (the Promoter of and Vendor to this Company), the stone-bearing property known as the MOEHAU GRANITE QUARRIES on the Coromandel Peninsula, for the purpose of working them to supply BUILDING STONE for New Zealand, and abroad, and especially the AUCKLAND MARKET with kerbstones, gutter pitchers, tramway cubes and ROAD METAL, of very superior quality. In effect to embark in the business of STONE MERCHANTS. THE PROPERTY IS SITUATED on the Moehau Range, western seashore of Coromandel Peninsula. QUANTITY. There are four different kinds of stone on the Moehau property: AH in practically inexhaustible quantities. QUALITY. The BEST BUILDING and MONUMENTAL STONE yet produced in the Dominion. Takes a high polish. Absorption 0.244 per cent, of its weight, 150 hours soak. T a Wm wm Piii Building in Auckland showing Coromandel Granite Pillars,' THE MARKET FOR STONE IS LARGE. , BUILDING STONE at the reasonable price of 2/6 to 3/6 per cubic foot will sell readily, and there are millions of tons easy of access to dispose of. The City Engineer suggests that sawn gutter stones be supplied for Auckland requirements. Split kerbs and pitchers for all the Auckland Boroughs are wanted in large quantities. The local demand for granite has hitherto exceeded the supply. All the cities in New Zealand will want this stone for BUILDING PURPOSES. It is hoped that some of thissuperior building stone will be ordered for the new Town Hall at Christchurch, upon which they are about to spend £60,000, and the Parliament new building at Wellington, to cost £BO,OOO. A GOOD ROAD METAL. IS THE CRYING WANT ABOUT AUCKLAND CITY AND SUBURBAN ROAD DISTRICTS, and it is required by Northcote, Birkenhead, Counties of Waitemata and Rodney, and also the Hauraki Plains, as soon as they are consolidated. The roads in and around Auckland are in a very bad state, the scoria rock now used only lasts ■two months, so that the roads are dust in summer and mud in winter, and if the Moehau Granite road metal only lasts twice as long as the scoria, it will pay the city to use granite, which should last several times as long as the scoria. The City of Auckland will shortly face the dust nuisance and bad roads question, when this ; Company, can reasonably expect a large ' share of the expenditure of road, metal. A trial of a small lot of hand cracked granite road metal was made at Khyber Pass, opposite St. Sepulchre’s Church, and the City Engineer in his report on Auckland roads,. published 13th March, 1911, states: “Samples of granite, of local bluestone, and local bluestone tar macadam, all laid in Khyber Pass Road, at the point mentioned during August, 1909, have been taken up, and reveal the undoubted superiority of the granite to the local bluestone.” THE CITY OF AUCKLAND RATEPAYERS HAVING DECIDED BY POLL TO BORROW £225,000 FOR STREET IMPROVEMENTS, this ' Company hope to supply granite road metal, setts and kerbing, for such improvement. PROFIT TO BE MADE. A contract has been signed with the Auckland City Council for a sample parcel of 2,000 cubic yards of 2%in. road metal at 4/- per cubic yard, f.0.b., and offers have been made to contract to do all the labour for 2/- per cubic yard, f.0.b., which, after allowing for incidental expenses, wear and tear of machinery, and redemption of capital, will leave ample margin for profit. COROMANDEL GRANITE BUILDING STONE has been selling at 4/- to 5/- per cubic foot on Queen Street wharf. Offers have been made to find all labour to split the Moehau Granite at 2/- per cubic foot, f.o.b. quarries Moehau, and the Company will be able to sell it at 3/- per cubic foot, or with 6d. per cubic foot freight, equal to 3/6 per cubic foot on Auckland Wharf, freight paid. These prices will ensure a large output, and keep out the Melbourne bluestone, which is of a much inferior quality. QUARRYING. FACILITIES. It will be seen from Mr. R ! eh’s report that enormous quantities of the stone are broken ■ out by nature ready for splitting up, and that hence, for many years the stripping of surface material will be avoided to the saving of expense in this direction. PLANT. Most of it has been secured at very reasonable prices, and on very easy terms, leaving little to purchase, except A TWIN SCREW STEAMER, which is essential to the profitable ' working of the quarries, as they are situated at an open roadstead, and steam is necessary for tne quick handling of the vessel .at the breakwater. WORKING OF STONE BY MACHINERY. An English PLANING MACHINE will do the work of 10 men in planing this granite at a cost of 3/- per day, and will save £5 a day as against cost of hand labour. The old laborious and costly method of sawing, working, and polishing stone by hand, and with sharp river sand, is entirely altered by modern methods, which have quite revolutionised the trade by an immense saving of manual labour. THE BREAKWATER, 253 feet long, is erected to low water mark, and it has stood all the heavy gales of last winter without the slightest damage to it. £l5O for labour will place some 4-ton stones needed at the end to finish it, when a crane to lift these big stones is procured. Fifty feet more added on to this breakwater will give seven to eight feet of water alongside it at low water spring tides. The TRAMWAY EARTHWORK, half a mile from wharf to quarry, is finished. CAPITAL IS THEREFORE NOW REQUIRED to buy the necessary machinery in order to start working and placing the stone on the market. To get to work at once, the Vendor has consented to sell and convey the property to the Company at the price stated under “Contracts,” and by taking ORDINARY SHARES FULLY PAID UP, and giving subscribers 7 PER CENT. CUMULATIVE PREFERENTIAL SHARES, he thus shows his confidence that the property will be able to pay dividends. The contents of the Memorandum of Association of the Company, with the names, addresses and description of the signatories, . We the several persons whose names, addresses . and descriptions are subscribed hereto are desirous of being formed into a Company in pursuance of this Memorandum of Association, and we agree to . take the number of shares in the capital of the Company set opposite’ our respective names. . For Prospecftfrapply to any Director; R. R. HUNT, Custom Street E., or PERCY S. BUTLER, Victoria Arcade, Auckland,