Page 3 Advertisements Column 2

Evening Star, Issue 3124, 22 February 1873, Page 3

Lata Advertisements. Messrs gillies & street beg to announce that they have been authorised by the Provisional Directors of the SHOTOVER TERRACE GOLD MINING COMPANY to receive applications for 8,000 shares in the Company ; the remaining number of shares to *be allotted have been reserved for the Queenstown and Shotover Districts. The official reports, plans, and other documents, referred to in the prospectus, have been placed in their hands, and may be seen on application to the Secretary. In the event of the number of shares allotted to applicants being less than that applied for. the deposit paid in excess will be credited on account of payment due on allotment. Messrs G. & S, having already received applications for a very considerable proportion of the number to be allotted here, anticipate closing the lists of application on an early clay. Princes street, Dunedin, 21st February, 1673.

PROSPECTUS OF THE SHOTOVER TERRACE GOLD MINING COMPANY (Limited.) (To be Registered under the Mining Company’s Act, 18G2.) CAPITAL, £30,000. In Shares of £1 Each. Of which, reserved for Vendors 16,000, and to be allotted 14,000 Shares of £1 each. Payable on application, ss, and on allotment, ss. Should further calls be made, they will not exceed 2s 6d per Share, or be made at intervals of less than one month. PROVISIONAL DIRECTORS, M. J. Malaghan, Mayor of Queenseown, Merchant. James Douglas, M.D., of Frankton. James W. Robertson, of Queenstown, Merchant. John M‘Bride, of Queenstown, Hotelkeeper. James H. Lawton, of Moke Creek, Storekeeper. (Two additional Directors to be Elected at early meeting of Dunedin Shareholders.) SOLICITORS : Messrs Smith and Anderson, Dunedin, rankers: Bank of New Souih Wales, Dunedin. Bank of Otago, Queenstown. secretary, pro tern : George Grant. Temporary Office ; Messrs Gillies and Street, Princes street, Dunedin.

This Company is projected for the purpose of purchasing and working, on a more extended and profitable scale, two of the most celebrated alluvial claims in Otago, situated on the Upper Shotover 'terraces. These claims are at present held under lease respectively by Messrs Thomas Grace and Henry Eagar, and have been subject of long and expensive Otago, a? will be fresh in the memory of many. The enormously rich character of the finds of gold obtained near the adjoining boundaries of the two claims was the cause of the litigation alluded to, which resulted in a verdict for heavy damages for an encroachment of very small extent. One object to be accomplished by the purchase of the claims, and the establishment of the present Company, is the prevention of all disputes and law suits as to boundaries. But also frois their peculiar relation to each Other, their more economical and systematic working on a large scale can be effected by the Company. An agreement has been entered into for the purchase of both * laims, on terms which, it is believed by those most competent to judge, are highly advautageoua to the Company ; and prove the confidence of the Vendors in its future and permanent success. The rich character of these Claims has been proved, not only by the most searching investigation in the Supreme Court, but by official returns from the Bankers of the Vendors, and by the reports of experienced Mining Engineers, who have, at the request of the Provisional Directors, personally visited the properties. From these Reports, and from the Official Report and Plana of the District Surveyor, it will be seeu that the Leases cover an area of 22 acres, a very small portion of which has been worked, whilst a large area has been tested by tunnels and drives. There remains, therefore, little room for doubt but shat the ground cau bo worked ai> a very high rate of profit for many years to. come. For obvious reasons it has been decided that the details and repoits above referred to shall not be published; bat it may bs stated, with the utmost confidence, by the Provisional Directors, that they entertain no doubt whatever ©f their ability to divide regular and handsome dividends from the ordinary current working of the Claims, commencing, say one mouth from the initiation off the Company’s operations, and regularly thereafter. It is also almost a matter of certainty tl at when the capital of the Company, and the experience of the Vendors —whose interests are bound up in it—are brought to bear systematically upon working the Claims on a large and extensive scale, the results of the past —magnificent as these have been —will be exceeded to an extent hitherto unknown in the Province. The Directors forbear entering further upon this subject; they would simply expr ess their own confidence in the great value of the Company’s property, ami iu the permanent prosperity of ita operations. It Is proposed to extend these from time to time by taking up other areas on the Shotover Terrace. It is the opinion of all competent judges throughout the district that these Terraces would yield large returns if worked with adequate capital; that they have not been so hitherto is owing solely to the fact that the working involves too much expenditure foy private parties of miners. In the few instances in which such parties bay© been in a position to prospect these Terrace Claims susboiently, the results have been highly satisfactory, large fortunes having been made in the course of a few years. The number, of shares open for allotment in Dunedin, is restricted to 8000 at £1 each, and for these applications will be received by Messrs Gillies and Street, or, by the Company’s Bankers, The Provisional Directors will allot strictly in the form of, application. Reports by practical Mining Engineers as to the past ana present working of the Mines fflll details as to the probable results of extended operations therein by the Company, with Plans by the District Surveyor of the ; whole ground, showing portions thereof already worked— the agreement entered into with Vendors for sale of the Claims- and other authentic and satisfactory evidence as to the hom Jidt’tt and undoubted richness of the Claims, may be inspected by intending Shareholders at the Temporary Offices of the Company. The Appendix to Prospectus contains : 1. Extract from last Report of Mr Warden Bectbam as to value of Shotover Terrace Claims. 2. Statement of terms agreed on for purchase of Properties acquired by the Company ; and, d. Explanation as to amount and application of Company’s capital Copies of these may be had at Messrs Gillies and Streets. SCOTT SCHOLARSHIP. THE Subscribers to tho Sir Walter Scott Scholarship Fund arc requested to meet in the Library of the University, on TUESDAY AFTERNOON, at d, Subscription Lists to be returned. THOB. CAf;LENDER, Secretary,