Page 2 Advertisements Column 2

Dunstan Times, Issue 658, 27 November 1874, Page 2

THE GORMSTJMAN’S BEACH GOLD MINING COMPANY, LIMITED. Capital, £3,500, in 5,000 Shares of 10s. each. Of which 3,000 only remain to he allotted. Payment, on npplica- . ti.-.n Is 0v.,„ j A* uuu, xo. pci. <i,.u illVivafter, monthly, Cd. per Share. (Immediatelv aficr allotment, a meeting of tho Shareholders will he called for election of Directors and Officers of the Company. BANKERS: THE COLONIAL'JfBANK 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 Cornish, menrimraediately after the first Dunstan rush, hut 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 he extremely rich, and much deeper, was beyond their reach, they having no means of securing the gold from the river at such a depth. The promoters' of this Company, having, in the first place, satisfied themselves, by personal inquiry, as to the great value of the ground in question, resolved to acquire not only this claim, but a large portion of the beach extending over SOL) 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 attention was 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 the operations above referred to, are now prepared to overcome the 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 equipment complete, with patent rights for New Zealand, is £1,250. of which A 1,000 will he 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 is in 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 are 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 Fomsof Application may he had from Mr James Marshall, Cromwell ;Mr George Fache, Clyde ; or from the interim Secretary, M r W. M Hawkins, Princes Street, Dunedin. The Shares will he allotted strictly in the order of app'ication. 1