Page 3 Advertisements Column 2

Evening Star, Issue 3311, 30 September 1873, Page 3

Late Advertisements. PROSPECTUS OF THU ALTON PAIiK COAL AND POTTERY COMPANY (LIMITED), GREEN ISLAND. To be incorporated under the Joint-Stock Acts. Capital, L 20,000, in 20,000 Shares of £1 each. 2s 6d per share payable on application ; 5s per share on allotment; and, if found necessary, a call of 2s 6d per share at the expiration of three months from date of allotment. No further capital will be called up without a resolution to that effect being passed by a General Meeting of Shareholders. RROYISfONAL DIRECTORS. Messrs James Copeland T. S. Graham Wm. Gregg Henry Ho worth J. M. Jamieson Robert A. Low James Whitelaw Robert Wilson. BANKERS. The Bank of New Zealand. SOLICITORS, Messrs Howorth and Hodgkins, INTERIM SECRETARY. Mr William Brown, Princes street (opposite National Bank). The objects of the proposed Company are—1. To purchase from the Lanarkshire Coal Co., and to carry on and extend the working of the Prince of Wales Coal Pit, known as “Pollock’s new Pit.” 2. To establish a Pottery in the proximity of the Pit, for the manufacture of drain pipes, jars, domestic and dairy utensils, bottles, ftc. The property is leasehold, and is held for a term of twenty-one years from January, 1873, at a low royalty. The area included is 110 acres, and there is every indication from the surrounding tests that the seam of coal, which is 18 feet in thickness, extends throughout the whole property. The character of the coal obtained in the Green Island District is well known to the inhabitants of Dunedin, having now been in the market for some years. The product of this particular Pit, however, which was opened only a few months ago, is superior to any in the neighborhood, and is now in regular consumption for steam purposes in most of the public works in the City, and is to be found in every household. The estimation in which this coal is held is attested by the fact that, although so recently offered in the market, the demand for it is now greater than the number of miners at command can supply. The out-turn from this Pit for the last three months averages about 1,000 tons per month ; and, arrangements having been made with the Government for the supply of a number of miners from England, it is confidently expected that this average will be doubled in a few months. The engine, plant, and gearing are all nearly new, having been placed on i.he ground since the commencement of the lease at the beginning of this year, and they are quite capable, without further outlay, of turning ent double the quantity of coal at present being brought to the surface. A branch railway to Green Island has been projected by the Provincial Government, and a sum of L 6.000 voted for its construction. The third reading of the Bill in connection therewith was advised from Wellington early this month (September), and the line will no doubt be in actual operation in a few months. As it passes within a few yards of this coalpit, the facilities for delivering in Dunedin will then be materially increased, and the cost of carriage decreased. Carriage being a heavy item in the cost to the consumer, the Provisional Direc'ors believe that when the line is completed no coal which has yet been offered, or is likely to be offered in the market, will be able to compete with theirs. A seam of excellent Fireclay, 44ft. thick, was found in sinking to the coal, and Professor Black reports this to be of a ouality well adapted for the manufacture of domestic utensils, bottles, and salt-glaze ware generally. As the demand lor this class of goods is great, and the cost of importing from England high, it is contemplated, as soon as the requisite information is obtained and arrangwments made, to enter upon this industry Further, an endeavor will be made to induce the Government to renew the bonus for the manufacture of glass bottles, and apply it to this industry. The fuel and material being on the spot, this property combines all the necessary facilities for carrying out the project advantageously. Extending the present average yield of the mine to an annual calculation—--12,000 tons would produce - £5,833 But, by adopting weighbridge weights, and an improved system of screening, 10 per cent, more could be sold at the same cost, equal to • - - 553 £6,416 The same quantity would cost- • 4,14$ Leaving, to pay fop expenses "pf management, aud to divide amongst the Shares folders t * £2,268 The growing demand, however, leads the Provisional Directors to believe that, in the coal department alone, these returns will, ere long, be greatly increased, Ihe Directors propose attending immediately to the erection of suitable cottages for the workmen of the Company. No proper township has as yet been laid off in Green Island, and the dwellings already existing in the neighbourhood being all occupied, it becomes an imperative demand upon a Company employing workmen, to take cape tjiat there is sufficient houseroom for fhejr hands. Capital laid out in this \vay would not only peturn good interest, but would promote the comfort and steadiness of the employes of the Company. The Provisional Directors having secured the Lease and Plant of the Lanarkshire Coal Company for the sum of L 4,500, offer it to the public at the same money, and have the utmost confidence in placing the shares upon the market, They are perfectly satisfied that the Company offers a remunetive investment for capital, and that the future prospects of the undertaking are highly satisfactory. They therefore, without seeking their own advantage, or any remuneration whatsoever, commend it to the favorable attention of investors, Prospectuses may be had opp. application to the Interim Seretapy op auy of the Pro* visional Pipettors,