Page 2 Advertisements Column 2

Dunstan Times, Issue 657, 20 November 1874, Page 2

THE 'COR NISH MAN’S BEACH j GOLD MINING COMPANY, j limited'. Capital, .£2,500, in 5.000 Shares of 10.i each. Of which 3,000 only remain to be allotted. Payment, on application, Is. per Share; and thereafter, monthly, 6d. per Share..' {lmmediately after allotment, a meeting of tho Shareholders will be called for election of Directors and Officers of the Company. BANKERS: THE COLONIAL BANK C OF NEW ZEALAND, Dunedin, SECRETARY pro. tem. M. W. HAWKINS, Esq., Princes Street, Dunedin. THIS Company has been formed for the purpose of acquiring and working the rich gold deposits known to exist in the - Cornishman’s Beach, Kawaura. This well known ground was first discovered hy some Cornishmen immediately after the first Dunstan rush, but although they most successfully established the great richness of the ground,. their work was suspended by a rise in the river. After waiting for three years they , were enabled for a short period to resume operations, when, from a similar cause, they were again stopped. It is well known, however, that in the meantime, that with the imperfect appliances at their disposal, their earnings must have been extraordinarily large, as every partner in the concern returned to England with a competency. The ground thus partially and imperfectly worked, was very shallow, while the adjoining ground, both above" and below their claim, although proved to be extremely rich, and much deeper, was beyond their roach, they having no means of securing tho gold from the river at such a depth. The promoters' of this Company, having, in the first * place, satisfied ihemselves, by personal inquiry, as to the great value of the ground .in question, resolved to acquire not only this claim, but a largeportion of the beach extending over 800 feet, above and below the previous’ workings, which form, as it were, the centre of the ground. Having accomplished this, and secured the ground, their attentionwas then specially’ .devoted to the means to be employed for reaching and working it, and acting under the advice of the most experienced piactical miners on the spot, some of whom were engaged in tho operations above referred to, are now prepared to overcome tho difficulties which baffled the early efforts of our pioneer miners, by the adoption of a machine which was originally to work under water. This machine, which has been repeatedly proved capable of all for which it is now intended, 'has been secured, and it is proposed to place it in about twelve feet of water, which will enable the Company to work the bottom in all ordinary conditions of the river, without the labor and expense of bringing the wash dirt to the surface for that purpose. The price to be paid for the boat with its machinery, plant and equip, ment complete, with patent rights for New Zealand, is £1,250, of which At 1,000 will be accepted in paid up shares of the Company, and £250 in cash, the vendors moreover, agreeing that the ordinary shareholders shall be entitled to receive, year by year, dividends of at -least 25 per cent, before any profits are divisible upon the shares held by them. The boat ism perfect order, a large sum having recently been expended upon her, is. ready for delivery, and it is proposed ‘ without any delay, to arrange for her immediate transportation and reequipment on the Kawarau, for which a contract has already been entered into with Messrs Kincaid M’Queen and Co. of Dunedin. The services of persons acquainted with the machine, and who arc prepared to work it, have also been secured,for the Company. The Promoters, who have full confidence in the prospects and success of the Company, propose to close the Lists of applications for the Shares remaining to be allotted, on Ist of December, up to which date Prospectuses and Forms of Application may be had from Mr James Marshall, Cromwell ;Mr George Fache, Clyde; or from the interim Secretary, Mr W, M Hawkins, Princes Street, Dunedin. Tho Shares will be allotted strictly in tho order of application.