SHOTOVER TERRACE GOLD MINING COMPANY.

Dunstan Times, Issue 568, 7 March 1873, Page 3

SHOTOVER TERRACE GOLD MINING COMPANY.

The Davy Times says “We understand that negotiations have for some time been in progress, and have at length been brought to a succtssfnl termination, for the fush n into one concern of the two celebrated gold mining claims at the Shotover, near Queenstown, belonging to Mr. Thomas Grace and party ansi Mr. Henry Eager and party respectively. This most desirable and sensible result has been secured by Messrs. Gillies and Street, who have succeeded in reconciling opposing ihtoves’s and in removing difficulties, and in inducing all the uarties interested to throw their properties in o a limited liability Company, and in accep ing shares therein in payment thereofTho Company, wo are informed, is now being established ami tho Directorate selected. That for Queenstown is composes! of the Mayor and three excellent local men, anil nearly one-half of tho available share capital has been reserved by them ft r allotn cut in (be distiiat. Dunedin will be represented at the Board by two additional members. The shares reserves! for Dunedin arc limited in number and are being rapidly applied for. Messrs. Gillies and Street have furnished us with copies of several excellent re; orts upon the properties, made by expe it need mining engineers, and with official details extracted fiom the bankers’ books as to the past yield of the claims, 3 heso are certainly to our minsl conclusive as to tho bona fulss and high character of the proposed scheme, to which we wish every success. There can he no doubt that, if successful, the present Company will be tho forerunner of others, whoso object will bo the successful development of the vast riches ahousiding in the Colony, more especially in these ancient terrace beds, which only require capital and experience to be worked successfully.