Page 4 Advertisements Column 1

Cromwell Argus, Volume III, Issue 117, 6 February 1872, Page 4

PROSPECTUS CARRICK BANGS WATER SUPPLY COMPANY, REGISTERED, CAPITAL £12,000, IN SHARES OF £1 EACH. intekim directors : James Cowan, EsQ. Ignatius Loughnan, Esq., J.P. James Hazlett, Esq., J.P. James P. Taylor, Esq., J.P. James Stuart, Esq. 0. W. Goodger, Esq. James Marshall, Esq. treasurer : James P. Taylor, Esq., J.V. solicitor : A. W. Allanby, Esq. secretary : Mr H. W. Smythies. BANKERS: Bank of New South Wales. surveyor : H. W. Smythies, Esq. IHE Company is formed for the purpose of supplying to the large Mining District of Carrick Range and Bannockburn a quantity of Water sufficient to, in some measure, enable the well-known auriferous resources of that district to be deveioped. By the proposed scheme, the necessity for further Steam machinery for Quartz-crushing purposes will be dispensed with ; and by the substitution of Water-power, a saving of 50 per cent will be effected, besides stimulating the erection of additional Q.iartz-crushing Mills. By a judicious distribution of the supply, the Water can be made available many times, as the altitude at which it will be delivered on the Range (being within two hundred feet of'the summit) will enable the Company to dispose of its use at various levels until its final debouch into the Kawarau Paver. The proposed Race will command at least thirty square miles of well-proved, highly auriferous ground on the Carrick Range, which nothing but the absence of water has hitherto prevented from being profitably worked. Mr Haughton, in his Report on the Water Schemes to be initiated by Government aid, referred in highly eulogistic terms to the desirabUity of this scheme, and to its undoubted success. There are at present three Steam Quartz-crushing Machines on the Range, and these are stopped frequently through want of water, and are subject to a heavy outlay for procuring coal. These difficulties will be effectually overcome by the successful carrying out of the proposed scheme. The undoubted payable character of the undertaking has induced many private parties to propose a similar scheme, but the cost has invariably prevented its furtherance ; and it has been acknowledged that, to ensure a successful issue, the undertaking should be placed in the position of a substantial Company. The line of Race has been marked out, and the necessary levels have been taken, by our Surveyor (Mr Smythies), with the view of ascertaining the practicability of the scheme ; and it has been estimated by him that about £7OOO will be required to construct the Main Race, of which a portion will have to be flumed. The Company, recognising the necessity of having a capital to omman I any contingencies, and with a view of compensating the Promoters, nineteen in number, (some of whom h.ave relinquished large private rights in favour of the Company,) have made the Capital £12,000 ; and the Pi-omoters have agreed to accept £IOSO in paid-up shares, as compensation for their rights and expenses in the matter, —thus leaving £10,9"j0 available for the prosecution of the works. The Company bringing in Sixteen Heads of Water, and the disposal of that quantity at current rates will secure to the Company large and permanent dividends. It hj also intended to obtain such Subsidy from the Government as may be granted, should the terms be suitable. So soon as a sufficient number of Shares have been applied for to insure the existence of the Company, agenerd meeting of Shareholders will be called for the election of permanent officers, and to take steps to register the Company. It has taen settled by the Promoters that 1/per share be paid on application ; that 2.6 be paid on allotm ; and that no calls be made at less intervals than one calendar mouth, and shall not exceed 2/6 each call. FORM OF APPLICATION FOR SHARES. T>) the Secretary of tlip. Carrick Rany Water Supp'y Company, Registered, Cromwell. Sir.—f hereby mik". app'icition firr. .■ bShire* in your Company, or any les* number that may be allotted to me : ani I endow , being deposit of one shilling per share on the above number, subject to the term* recited in the Protpectu*, Signature Address