Page 3 Advertisements Column 3

Daily Telegraph (Napier), Issue 3782, 29 August 1883, Page 3

Prosj»ectiises. PROSPECTUS —OF THE — KELLY'S TERRACE GOLD MINING —AND — WATER RACE COMPANY, LIMITED, STAFFORD TOAVN. TO HE REGISTERED UNDER " THE MINING company's ACT. 1872." CAPITAL £15,000 —IN —• FIFTEEN THOUSAND SHARES OF £1 EACH, 12,000 of Avhich aro now offered to the Public at par: fhe remaining 3000 fully paid-up to be given to the present Proprietors for their interests, comprising rights to head-race, dam site, tailrace, and a special claim of £-30 acres. Provisional Directors : John M'AVhii.ter, •County Chairman of AVcstland. J. Holmes, Proprietor Okuku AValer-racc. J. Gibson, Manager Humphreys Gully United Goldmining Company and Rpss United Gold Mining Company. AY. G. Johnston, Director Humphreys Gully United Gold Mining Company, and Ross United Gold Mining Company. R. C. Reid, J.P., Hokitika. B. Lyons, Stafford Town. AY. M'Kay, Hokitika, T. Kerr, County Engineer of AVestland. J. Brown, Auckland." E. T. AVhitten, Ballarat, AY. F. AVileinson, Hokitika. T. Cooke, Hokitika, E. F. Rich, J.P., Hokitika. Jas. Craig, Oamaru. R. Bleazaiid, Auckland. Manager : AY. A. Spence, Hokitika. THE present Company is bring formed for the purpose of working the ground known as Kelly's Terrace, of ivhich a special claim of .30 acres has been obtained, ivhich is situated in the well-known auriferous diggings of the AVaimea district. In the early days of the AVest Coast many shafts ivere sunk upon this ground to depths varying from (JO to 130 feet, but inconsequence of the great amount of underground wafer, and no drainage tunnel being constructed to carry it away, these shafts had to bo abandoned. About 30 shafts in all Avero put down, some of ivhich could not bottom, while others bottomed with excellent results. Notwithstanding these drawbacks, the richness of the ground was sufficiently tested, and the Provisional Directors hai'o taken care to collect reliable information as to the gold actually obtained. Many of tho miners avlio Avorkcd tho ground are still in tho district, and numbers of parties ivho Avero fortunate enough to sink in the drier portions of tho terrace avctc enabled to Avork for a time, and obtained highly payable returns, but the claims could not bo further worked owing to tho want of capital to bring in a permanent tail-race at sufficient depth to drain the ground. From the above facts it will be seen that the ground has been thorough]}' proved, and merely requires draining to be profitably Avorkcd, and in order to do this, it is proposed to construct a drainage tunnel from tho AVaimea Creek to the ground, which Avill thoroughly drain the terrace, as ascertained from levels taken by a Government Engineer. Tho Directors have secured a valuable AA'ator-right of 20 Government heads, lifted from Fox's Creek, Avhich, in conjunction with an excellent site for a largo reservoir, will give a supply more than ample for tho Company's requirements. The surplus witter can bo disposed of to minors Avorking outside the Company's ground, at most profitable rates, Avhich in itself will bo of a highly remunerative nature. Tho race can be easily and cheaply constructed, as from the nature of the country through which it ivill pass, no tunnelling ojr fluniing Avill be required, but merely open ditching in flat ground and on sidlings. The folloAving is the estimate for constructing head-race, drainage tunnel, kc : Drainage Tunnel £2000 Hcad-raco and Dam 2.300 Plant 1500 £6000 As the ground through which the drainage tunnel Aiill run consists principally of blue reef (ivhich is dry), and as it is tho intention to sink shafts along the line of race simultaneously, it is expected that this work will be completed within five months. Tho promoters have agreed to dispose of all their rights and interests in the water rights and mining- lease, iv consideration of their receiving 3000 fully paid up shares in the projected Company, and guarantee to subscribe as contributing shareholders for at least an ecpial number. Attached hereto is a plan shewing position of the claim, tail-race, and surrounding gold workings. As a great many shares have already been taken up, applications for shares must be sent in to the Manager, AVharf street, Hokitika (from whom forms may be obtained), on or before MONDAY, the 3rd of September, after which date the Share List will be closed. A deposit of sixpence por share to bo made on application and one shilling on allotment, future calls not to exceed sixpence per share per month. AY. G. MOTLEY Broker. THE MIKONUI AVATER RACE AND GOLDMINING COMPANY (Limited). (To be registered under tho Mining Companies Act, 1872.) Capital .. .. £30,000 In thirty thousand Shares of £1 each, 20,000 of which are now offered to the public. The present owners having agreed to hand over various Valuable Properties for the sum of £2000 to be paid by the proposed Compan3' in instalments spreading OA'er a period of eighteen months, and -1000 fully paid up shares, the owners binding themselves to take a similar number of contributing shares in the new Company. A cash deposit of sixpence per share to bo made on application, and Is per share on allotment, calls not to exceed sixpence per month. An influential Board of Provisional Directors has been appointed, including Mr E. Patten, J.P., of Napier. Manager, pro. lent., AVilliam Duncan, Hokitika. rpiIIS Company is formed for the purpose JL of purchasing the lease of 70 acres of AA-hat is anticipated Avill turn out to be rich alluvial land, also of various water rights. From the Mount DOr Company's claim, which forms the eastern boundary, .1.3.30 ounces of gold were taken from a bottom area of I',• acres. This Company have sluiced as far as they can in this direction, and have only been stopped by the boundary line of tho proposed Company's ground, and a lato washing at this boundary gave the handsome return of 210 ounces. In conclusion the Directors recommend the proposed Company to the notice of investors with every confidence, and believe that tho water race alone will return satisfactory dividends. Prospectuses and all further particulars may be obtained from the Hawke's Bay Broker, ROOPE BROOKING. August lGth, ISB3. Tenders. TO BUILDERS. r|AENDERS are invited for alterations 5 • and additions to Residence for J. D. Ormond, Esq., in Napier. Plans, Specifications, and conditions may be seen at my office. Tenders to be delivered to mc by noon of MONDAY, September 3, 18S3. The lowest or any tender not necessarily accepted. ROBERT LAMB, Architect. Napier, August 23, 18S3. Slii|>l»iiiK. FOR AVELLINGTON. m .Tl npHE S.S. KIWI, L Captain Jamet Campbell, Avill leave as "^ I «ES_SL&--» , a i, ovo TO - MORROW (Thursday), at 2 p.m. For freight or passage apply to— KINROSS & CO., , Agents,