Page 2 Advertisements Column 6

Dominion, Volume 4, Issue 1065, 2 March 1911, Page 2

PUBLIC NOTICES. ABRIDGMENT OF PROSPECTUS OF TIE HUH COLLIERY COMPANY, LIB. (To be incorporated under the Compiuios Act, 1908). Capital - - £60,000 IN <60,0110 SHARES OF £1 EACH. Of those 3000 Shares credited as fully paidup anil representing .£3OOO of the Company's nominal Capital are to be allotted to William Morrison Eunciman, of Auckland (who is also the promoter ot the Company), as the consideration for the agreement hereinafter mentioned, and 57,000 Shares' aro now offered to'tho public as under:— 2s. per Share on apnlication; 2s per Share on Allotment. The balance by instalments of not moro than Is. per 'Share at intervals of not less than one month. Provisional Directors: GERALD FITZGERALD, ESQ., of Wellington,. Assoc. M. Institute C.E. SIDNEY KIRKCALDIE, ESQ., of Wellington, Draper. HARRY WALTER WILLANS, ESQ., of Kliandallali (near Wellington), Gentleman. (The above Directors are to hold office until the first Annual General Meeting in 1912). Bankers: NATIONAL BANK OT? NEW ZEALAND, LIMITED. . Solicitors: Messrs HERDMAN AND KIRKCALDIE, Wellington. Broker: CHARLES A. WILSON, 201 Lambton Quay, Wellington. Interim Secretary: WATKINS, HULL AND WHEELER, 9 Johnston Street, Wellington. Auditors: . CLARKE AND MENZIES, 197 Lambton Quay, AVellington.

Tho objects and powers of tlio Company aro to acquire on lease and work on rovalty a coal area in the Hunua coalfield. This is the nearest coalfield to Auckland vet discovered,' aiul is situated in the Huuua Parish, Opaheke Survey District, Manakau County, and distant sis miles cr thereabouts from Papakura Township, v.hicli is 19 miles from Auckland by the Main Trunk Line of Railway. The vendor contracts to grant a lease of 597 acres for 99 years, at a Royalty of SIXPENCE per ton on all coal SOLD which passes over a mesh of half an inch in diameter, the smaller coal to be given freo to tho Company. Ho also contracts, without further charge, to assign to tho Company options over an additional area of 9G9 acres. Twenty acres, adjoining tho mino opening are to be given free of ground rent, and any additional area required at a ground l'ent of ,£1 per. acre per year. ;QUANTITY OF COAL—The coalfield has been examined and reported on by Mr. John Hayes, P.S.Sc., of Wellington, Mining •Engineer.-" 51r.-- : llayes- -is wellknown throughout the Dominion as tho lato Inspecting Engineer of Mines of the Now ' Zealand Government, and lias had an. extensiye.und responsible experience in the engineering anil management of largo colliery undertakings; Sir. Hayes calculates that with a minimum team of only six feet in thickness, and allowing for a loss of 20 per cent, in working, tlie amount of saleable coal in tho area* to bo "leased is 3,500,000 tons, or equal to 50 ypars' work :at 75,000 tons per annum. He says that by the< inclusion of other - areas adioining, the output might reach from 8,000,000 'to 10,000000 tons! QUALITY OF THE COAL.—'Tho analysis-, made at tlie Government Laboratory at Wellington of samples taken from OUTCROPS in tho creek bed by Mr. ■Hayes is, lie says, almost identical with the best quality of Kaitangata Coal. COST OF WORKING.—Mr. Hayes says .the proposed Colliery can be opened without any shaft-si-.iking or tho driving of long and expensive tunnels, and also drained, for many years to come, by. gravitation. , TRAMVMY.—The vendor lias obtained options over a considerable portion of the route suggested by Mr. Hayes, and will assign these to tho. Company. Mr. Hayes proposes a light railway at a cost of .-215,000, but as it may, ana probably will, bo found desirable to construct a railway which shall carry tho Government stock, the nominal capital has been fixed at £50,000, in lieu of ,£40,000 as proposed by Mr. Hayes, in order that ample provision in tho way of capital may be provided for such a railway. . MARKET FOR COAL.-This will be principally Auckland City and Suburbs, Oneliunga and tho district served by tho Ivaipara branch of tho New Zealand Railways. The close proximity of the coalfield to these centres of population should enable the coal .to be sold at a lower rate than that now charged. Railage into Auckland from Papakura is 2s. Od. per ton, or a saving of 3s. Od. 1 per ton. as compared with tho railage from tho mines at Huntly. ESTIMATED PROFITS.-Mr. Hayes estimates that tho average cost for all classes of coal will be 7s. Gd. per ton on waggons at Papakura, and the average selling prico 125.-per ton. This shows an estimated profit of 4s. fid. per ton. or on the low estimate 6f 50,000 tons, a profit of ,£11,250 per annum. Tho vendor, who is also the promoter, is William Morrison Runciman, of Auckland, Accountant. The consideration to bo paid to him for the 99 years lease, the options over tlie additional 969, acres, and tho options over the lands on the tramway' routo is ,£SOO in cash arid 3000 fully paid-up shares. The contract for salo between the vendor and George Alfred Hurley, of"'Wellington, Land Transfer Conveyancer, as Trustee for the Company, is dated the 17th day of February, 1911, and may bo inspected at tho office of tho Interim Secretary at any time -within office hours.

The amount of Commission to be paid to thf) Broker is 5 per cent, on all contributing shares allotted by tho Company. Tho amount of the preliminary expenses, exclusive of Brokerage, is estimated at .£2OO, and will bo paid by the Company. Tho qualification of a Director is the holding of 250 shares in his own right. Tho first Directors of tho Company snail be as follow:— GERALD FITZGERALD, Esq., Assoc. M. Inst. .C.E. SIDNEY KIRKCALDIE, Esq. HARRY WALTER WILLANS, Esq. Tho first Directors shall havo power to add to their number, provided the total number of Directors shall not exceed five, and any persons so added shall hold office with tho first Directors until tho first annual general, meeting in 1912. The remuneration of the Directors for their services shall be at th 6 rate cf ,£6OO per annum, to bo divided among them in such proportions and in such manner as they shall determine, and such additional sum (if any) as tho shareholders in general meeting shall decide. The minimum subscription on which tho Directors may proceed. to allotment is 30,000 shares. Applications for shares should bo made in tho form accompanying the Prospectus, and forwarded to the Broker or the Interim Secretary with a remittance equal to the amount payable on application. Exchange must be added to all cheques payable oilier than in Wellington. (If the number of shares allotted be less than Iho number applied for, the surplus amount paid on application will bo credited in reduction of tiio amount payable on allot-ment-Where no allotment is made the application money will be returned in full.) The .Prospectus has been duly filed with the Registrar of Companies. Copies of the Prospectus, with the Memorandum of Association nnd the full report of Mr. Hayes, showing the map of the locality, may be obtained from tho Brokor or Interim Secretary, or will be forwarded by. jpost on reciuest,