Page 4 Advertisements Column 2

Greymouth Evening Star, Volume XXXI, 22 August 1901, Page 4

PROSPECTUS OF The Tyineside Colliery Co., (LIMITED.) To bo incorporated nnder the Companies’ Act, 1882, CAPITAL: —£10,000 In 10,000 shares of £1 each, of w'hich 2,400 shares credited as fully paid up are to be allotted to the Vendor (together with £IOO in cash) as full payment for the property which the Company is formed to acquire. The remaining 7,600 are offered for subscription on the following terms ; —One shilling per share on application, one shilling per share on allotment, and the balance in calls as may be required, but not exceeding two shillings per share per month. 3 PROVISI ONAL DIRECTORS : A. R. GUINNESS, Esq., M-H.R., Greymouth ; JOSEPH MANDL, Esq., Hokitika; JOSEPH TAYLOR, Esq., Greymouth; THOMAS JONES, Esq., Brunnerton; ROBERT RUSSELL, Esq., (Mayor) Brunnerton. BANKERS: THE NATIONAL BANK OP NEW ZEALAND, LIMITED. SOLICITORS : MESSRS GUINNESS and KITCHINGHAM, Greymouth. E. A. WICKES, Greymouth; BROKERS: G. S. CRAY and CO., Greymouth, INTERIM ■ SECRETARY : JOHN WARD. )HIS COMPANY is to be formed to acquire and work the Tyneside Colliery, comprising 150 acres leased from the Crown for a period of 06 years at an annual rental of 2/6 per acre, and a royalty of sixpence per ton on the output —the rent merging in royalty. The agreement, dated the 17th of June, 1901, is made between Henry Jones (the vendor) of the one part, and Robert Russell (on behalf of the proposed Company) of the other part, and may be inspected at the office of the Company’s Solicitors. The costs of, and incidential to the floatation and incorporation will be charged to the Company. A large number of shares have already been bespoken and the Company will be registered and operations will be commenced when the Provisional Directors consider sufficient capital has been subscribed. Prom the estimates prepared it is believed that £2OOO will fully cover the cost of the machinery which has been secured, in addition to the erection of same and opening up the Mine works. The Mine shaft (about 90 feet deep) is in fair order and as soon as the machinery is erected the Mine can be unwatered, and coal can be obtained for the market within a few weeks. The Mine is splendidly situated for economical working, being immediately above the Brunner railway station, with siding connection to the main line already established, and as the coal industry in New Zealand has never afforded such favourable opportunity as at present for profitable enterprise this proposal is submitted in the confident belief that it is fully warranted by the increasing demand for coal, and as there is undoubtedly a proven supply of good coal easily available in the Tyneside Mine and the Company’s unexplored area is right in the heart of the “ coal measures ” of the district, there is a very reasonable chance that the Company’s operations will be highly profitable and lead to the establishment of a large and sound industrial enterprise. The existing working coal mines in this district find very full demand for their output for export purposes, and the growing demand for coal supplies in connection with the gold dredging industry is frequently attended with irregularity and uncertainty in the fulfilment of orders. It is believed that the opening of the Tyneside Mine will admirably suit the requirements of a large number of local gold dredges, and the supply of fuel for such purposes will be made a speciality in the operations of the proposed company and in itself will probably form the nucleus of a profitable business. Preliminary arrangements have also been made which will enable the Company to export any coal not required for local purposes, at a renumerrtive ( price, and though it is not suggested that the export from this Mine will be very extensive till a certain amount of development work has been carried out, it is probable that; within a year of the opening up of the Mine, a substantial and regular export trade will be established. it is the purpose of the Provisional Directors to obtain subscribers for sufficient shares to cover the Company’s early operations on a sound basis, and to reserve the balance for future issue. When the value of these reserved shares has been enhanced by the success of the initial work and capital is needed for more extensive development and trade purposes, the reserve shares will be offered to the holders of the contributing shares, and it is herein suggested that the acceptance of the limited number of shares now offered will secure for the subscribers a sound advantage if the Mine can be worked with the profit which seems so well assured. Subjoined are reports from several reliable Mine Managers, who have worked in the Tyneside Mine and who are qualified to give a fair and disinterested opinion concerning the worthiness of the property for the projected purpose of the Company. REPORT BY MR. M. DANDO, FORMERLY MANAGER OF THE COAL PIT HEATH AND OF THE TYNESIDE COLLIERIES* TO MR. HENRY JONES,— Dear Sir, —In reply to your request I beg to inform you that I was Managing the Tyneside Colliery for the Grey Valley Coal Company, which Company had at that time the control of all coal mines in the Brunner District. The Company did not keep the Tyneside M ine going very long after they acquired it, as they were able to get all the coal they could find a market for from the Brunner and Coal Pit Heath Mines. During the time I was in charge of the underground workings at Tynside I extended the “ dip level ” 8 chains under the big hill at the back of the Railway Station, and after crossing the basin where the coal was soft and tender, the seam began to rise slightly and the coal improved wonderfully, and when work was stopped wo left some of the best coal in the district standing in the faces, and as soon as the Mine is unwatered you can start a few places right away on this coal, and as you push the headings forward should soon have a fair output. The water pipes from the well in the “ dip ” to the outlet shaft near the river, were not removed and they are ready to connect on to. They are a grand lot of pipes and having leaded joints will save yon contiderable expense. For ventilation a furnace is all you require for some time. The thickness of the seam varies from Bto 15 feet and practically all the coal is marketable., There is also a seam of excellent fire-clay underlying the coal which should prove of considerable value. Yours truly, (®g-a) M. DANDO, Mine Manager. Brunnerton, 15/7/1901. REPORT BY MR. JAMES HUNTER. FORMERLY DEPUTY OF THE TYNESIDE COLLIERY. TO MR. HENRY JONES,— Dear Sir,— ln answer to your enquiry about the Tyneside Mine I beg to inform you that I was Deputy Overman during the time it was owned by the Grey Valley Coal Company, and worked with Mr Dando who was the Underground Manager, and during that time the “ dip ” extending under the hill was kept going three shifts, and you can get “ herds ” broken away from here immediately the water now lying m the mine is pumped out, The “ dip ” is carrying splendid coal, and of course there is the same class of coal to left and right, in fact there is a large quantity of coal in this mine which can be got as soon as the mine is unnateied. Faithfully yours, (Signed) JAMES HUNTER* Brunnerton, 29/7/1901. EXTRACT FROM LETTER RECEIVED FROM... MR. T. ALEXANDER, For many years Colliery Manager at Brunnerton, writing from Westport under date 10th June, 1901, says ; “I see by the papers you are going to open out Tyneside. If you do you will obtain a lot of easily got coal. I had charge of this mine for a short time before being shifted back to Coal Pit Heath,