CARRICK RANGE WATER SUPPLY COMPANY, REGISTERED.

Cromwell Argus, Volume III, Issue 117, 6 February 1872, Page 5

CARRICK RANGE WATER SUPPLY COMPANY, REGISTERED.

To thf E-.Vitjr of the Cr j:.i'.ve„l Argus. Sir,—Having heard a great deal said about this scheme—both for and against—.luring the past fortnight, ami being one of those who most earnestly desire to see a good supply of water upon the Carriek Range, hut at the same time do n >t desire to see the public (myself included) swindled, —I have taken the trouble, to obtain what information I could about the matter ; and the result is favourable to the scheme. In the hops that the knowledge I have gleaned, and ray deductions therefrom, may be of some ser-

I v:co to your subscriber's I »h:iT Ul»o the Uvulrio to Write a few lines about the iriatber, that you will pnno theril when written, ami that I yunr subscribers will re id tlienr when printed, j 1 sl'd d assume that the prospectus of the Comi party lias been »cao. by aii who are likely to read l this, as it lias been puoliahed in the Cuo.M wkul j Arcus, and, f belie cktensively circulated, i will take lirst tuat suuemeut in the prospectus Which Appears to ho most talked about, —viz.> “that ihe promoters (I'J in uum--1 her) have agreed to accept £IOoJ in paid-up 1 shares as compensation for tlieir rights and exj ponses in the matter. ” 1 have ascertained from I the promoters that this statement is not I correct: What they really have agreed to ac- ' eept is 1050 £1 shares paid up, which is a very different matter ; for these shares will only lie worth (at par) £IOSO when all the capital is paid up, which it is to be hoped will never happen, and certainlyeannot happen forseven months: if tire estimate of £7OOO is at all correct, (and I think, from eu juiries 1. li.ivT made, that it is,) then the shares taken hy tlie projectors will only he worth about 1 ls ; each (at par), or £SO altogether to each promoter, when the race is -completed. Well, 1 ;lni inclined to think, taking all things into consideration, that this is not too much. Perhaps if it had not been for the projectors of this Company, nothing practical would have been done for years towards bringing the water in. The projectors have also rendered certain, at their own cost, what before was very uncertain, namely, that the difference of level will permit of water being brought over the top of the range from Coal Creek. 1 have ascertained, also, that some of the projectors really have consented to relinquish rights of considerable value to the Company ; also, that a number of meetings have been held) which j last, as we all know, run a way with a great deal of time and money. You, .Sir, have already notice 1, in an able | manner, most of the statements in the prospectus ] concerning the great benefit that will he reni tiered to the district by the water being brought i in ; and 1 will simply arid that I think tilery is ! a very important use to which the water can be | put, not mentioned in the prospectus, and that | is, to make it of service as a prospecting agent. ! With a volume of sixteen or even of ten heads 1 of water, at the height to which it is proposed | to bring it, how easily the envious earth now j covering the golden reefs might he washed away, and the hidden treasures laid bale! Imagine 1 this water turned out of the race at a different ! place (say) every Saturday night, and allowed I to run down the range, in a channel cut a few j inches deep, (to direct in to a proper place for ; the discharge of. tailings,) until Monday morning, when it could be returned to its ordinary occupation. Why* more work would be done in one day by the water than could be done in a month with the pick and shovel by all the miners on the Cnrrick Jlar.go ! Wouldn’t there be some anxious eyes looking at the bottom of ! the channel that would be cut, when the water j was turned off ! I trust that mine may be two I of them, and that the anxiety may s«.oii arrive. | I must reserve the remainder of what I have 1 to say for another letter, as 1 am exceeding the ordinary limit.—l am, &c., A Wci.L-Wisuxi: tj T;ie Dhi’kiit. Cromwell, Feb. 3, 1872.