Page 4 Advertisements Column 2

Daily Telegraph (Napier), Issue 3790, 7 September 1883, Page 4

Iforomgli Notices. BOROUGH OP NAPIER. Recovery op Rates. "Rating Act, 1376." is hereby given that in aecorJLi dance with the provisions of "The Rating Act, 1870," Clause 58, Summonses have been posted upon a conspicuous j'art of each of tho undermentioned Properties, VIZ - '■ — _, ~, Town Section 286 Subdivision El g<l3 % 253 „ m t & Subr. Section 11 „ SB ° r f r 2 b 80 „ CB |g|g % co # 2 co-w g By order, M, N. BOWER, Town Clerk. Town Clerk's Office, September 5, 1883. Prospectuses. PROSPECTUS —OF THE — KELLY'S TERRACE GOLD MINING —and— WATER RACE COMPANY, limited, stafford town. to be registered under '' the mining company's act, 1872." CAPITAL £1.3,000 —IN — FIFTEEN THOUSAND SHARES OF .£1 EACH, 12,000 of which are now offered to tho Public at par: the 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 £50 acres. Provisional Directors : John M'Whirter, County Chairman of "Westland. J. Holmes, Proprietor Okuku "Water-race. J. Gibson, Manager Humphreys Gully United Goldmining Company and Ross United Gold Mining Company. W. 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. W. M'Kay, Hokitika, T. Kerr, County Engineer of Wcstland. J. Brown, Auckland. E. T. Whitten, Ballarat. W. E. Wilkinson, Hokitika, T. Cookk, Hokitika. E. F. Rich, J. P., Ilokitika. Jas. Craig, Oarnarn. R. Bleazard, Auckland. Manager : W. A. Spence, Hokitika. present Company is being formed JL for tho purpose of working the ground known as Kelly's Terrace, of which a .special claim of 50 acres lias been obtained, which is situated in tho well-known auriferous diggings of tho Waimea district. In the early days of the West Coast many shafts were sunk upon this ground to depths varying from GO to 130 feet, but in consequence of tho great amount of underground water, and no drainage tunnel being constructed to carry it away, these shafts had to be abandoned. About 30 shafts in all were put down, some of which could not bottom, while others bottomed with excellent results. Notwithstanding these drawbacks, tho richness of the ground was sufficiently tested, and tho Provisional Directors have taken care to collect reliable information as to the gold actually obtained. Many of the miners who worked tho ground are still in the district, and numbers of parties who were fortunate enough to sink in the drier portions of the terrace were enable:! to work for a time, and obtained highly payable returns, but the claims could not bo further worked owing to the want of capital to bring in a permanent tail-race at sufficient depth to drain the ground. From tho above facts it will be seen that the ground has been thoroughly proved, and merely requires draining to bo profitably worked, and in order to do this, it is proposed to construct a drainage tunnel from the Waimea Crock to the ground, which will thoroughly drain tho terrace, as ascertained from levels taken by a Government Engineer. The Directors have secured a valuable water-right of 20 Government heads, lifted from Fox's Creek, which, in conjunction with an excellent site for a large reservoir, will give a supply more than ample for tho Company's requirements. The surplus water can be disposed of to miners working outside the Company's ground, at most profitable rates, which in itself will bo of a highly remunerative nature. The race can be easily and cheaply constructed, as from tho nature of tho country through which it will pass, no tunnelling , or fluming will be required, but merely open ditching in flat ground and on sidlings. Tho following is the estimate for constructing head-race, drainage tunnel, &c. : Drainage Tunnel £2000 Head-race and Dam 2500 Plant 1500 £0000 As the ground through which the drainage tunnel will run consists principally of blue reef (which is diy), and as it is the intention to sink shafts along the line of race simultaneously, it is expected that this work will be completed within five months. The promoters have agreed to dispose of all their rights and interests in the water rights and mining lease, in consideration of their receiving 3000 fully paid \\p shares in tho projected Company, and guarantee to subscribe as contributing shareholders for at least an equal 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, Wharf street, Hokitika (from whom forms may be obtained), on or before MONDAY, tho 10th of September, after which date the Share List will bo closed. A deposit of sixpence per share to be made on application and one shilling on allotment, future calls not to exceed sixpence per share per month. W. G. MOTLEY Broker. THE MIKONUI WATER RACE AND GOLDMINING COMPANY (Limited). (To be registered under the 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 Company in instalments spreading over a period of eighteen months, and 4000 fully paid up shares, tho owners binding themselves to take a similar number of contributing shares in tho now Company. A cash deposit of sixpence per share to be 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. tern., William Duncan, Hokitika. npiIIS Company is formed for the purpose JL of purchasing the lease of 70 acres of what is anticipated will turn out to be rich alluvial land, also of various water rights: From the Mount DOr Company's claim, which forms the eastern boundary," 4550 ounces of gold were taken from a bottom area of 1 h acres. This Company have sluiced as far as they can in this direction, and have only been stopped by the boundary line of the proposed Company's ground, and a late washing at this boundary gave the handsome return of 240 ounces. In conclusion tho Directors recommend the proposed Company to tho notice of investors with every confidence, and believe that tho water race alono will return satisfactory dividends. Prospectuses and all further particulars may bo obtained from the Hawko's Bay Broker, ROOPE BROOKING. August 16th, 1883.