Page 1 Advertisements Column 4

Grey River Argus, Volume VI, Issue 388, 9 July 1868, Page 1

]3ROSP E C T U S _ OF THE GREY RIVER COAL COMPANY (Limited). Capital :— £loo,ooo ; in 2000 shares, of £50 each, (Established under the Joint Stock Company's Act, N.Z., I860), Of which amount it is proposed now to raise £25,000 by the issue of five hundred . shares. £2 deposit to be paid on application ; a further sum of £3 on allotment ; and tho balance at intervals as required. No call to be made wija less than two months' notice, and then hat to exceed £5 per share. POVISIOXAL DIRECTORS. UHEISTCIiaKCII. Geo. Buckley, Esq., M.P.C. H. P. Mctrkay ■ Ayxsley, Esq., M.P.C., J.P. Geo. Holmes, Esq. J. Inulis, Esq. W. S. MoOkhouse, Esq., J.P, W. Reeves, Esq., J.P. E. Richajrdson, Esq. R. H. Rhodes, Esq., M.P.C., J.P. ' W. Wilson, Esq., M.P.C, Mayor of Christchurch. oheyjiouth : local committee. James Keru, Esq. Gerald Perotti, Esq. W. S. Smith, Esq. Jos. Kiluouh, Esq. Hakuy Ken kick, Esq. Bankers ... ... Consulting Engineer... Edward Dobson, Esq. Solicitors . Messrs Hanuior and Harper. Hon. Secretary ... J. Ollivier. AGENTS :— Greymouth — Messrs P. Maclean and Co. Hokitika— Mr E. W. Joxes; Mr Mahk Spkot. Memorandum of Association. 1 . The name of the company is the Gbey River Coal Company (Limited). 2. The Registered Office of the Company is to be established in the Province of Canterbury. 3. The objects for which the Company ia established are— the working of certain Coal Mines situate near to the Grey River ; and the sale of their produce in such manner respectively as the Company may from time to time determine ; and the doing of all such things as arc incidental or conducive to the , attainment of the above objects. * 4. The Liability of the Shareholders is "Limited." 5. The Nominal Capital of the Company is £100,000, divided into 2000 shares of £50 eaflh^ *■■&_. PROSPECTUS. "A country without Coal is deprived of, perhaps, tlie. most poioerful agent of civilisation, hi these days oj Steam Engines, Steamboats, and Railways, on the use of which we are dependent for commercial intercourse and the provision of innumerable wants, Coal, tlie prime mover of this vast machinery, is an absolute necessity, and \f it be not prodttced within our own country, we must draw our supplies, at great cod, from otlm' places. It is d fortunate circumstance that, with few exceptions, wlierever important British Colonies have been founded, tliere lias also been found rt local supply of Coal. Thus tlie- Colonists of that race which, above all others, luts attained great national prosperity by means of its vast mineral wealth, will find in their new countries the same agents by which to build up a like greatness.— Juror's Report, 1865. — - As far back as June, 1862, the promoters of the Grey River Coal Company met together for the purpose of developing the vast mineral resources of the Grey District, and in 1863 the conditions upon which they were to lease the lands reserved by the Provincial Government uf tho Province of Canterbury were agreed to between the Provincial Government and themselves ; and Mr Dobson was directed to make an examination of the Reserve, and to report generally upon the Coalfield, and the character of the coiintry lying between it and the place of shipment at Greymouth, but unlooked-for obstacles sprung up and nrevented the completion of the lease until the latter end of the year 1867. The Promoters have now, however, secured a lease of the Reserve, consisting of 5000 acres, more or les?, upon terms that fully justify them in inviting the co-operation of the public in developing the resources of this remarkable Co«l Field. The Directors scarcely deem it necessary to offer any remarks upon the value of the Estate which has been thus secured, because the well-known Reports of Mr Brunner, Dr Haast, Mr Burnett, Dr Hector, Mr Dobson, and others, all bear testimony to the extent and exceeding richness of the seams of Coal lying above the wiiter level, and which are found to be easily accessible. Dr Haast, in his Report, states that the Coal itself cannot be distinguished from the Newcastle Coal of Australia, its structure, lustre, specific gravity, mineral composition, and combustibility being similar ; and Dr Hector's analysis of the Coal shows that it is as well fitted for steam generating purposes us any found in New South Wales, and is equal to most samples from Great Britain. Subsequent tests of the Coal by Engineers engaged in vessels trading to Greymouth have fully confirmed the value and quality of tho Coal. The testimony of the Captains of Steam Vessels and their Engineers is to the effect that 16cwt. of the Grey River Coal as obtained in its present broken state, owing to the frequent removals before reaching the ship's hold, is equal to one ton of the Newcastle Coal : but if brought direct from the Mine to the ship's side, the balance in its favor would be much greater. The Lease granted to the Company ia for a term of forty-two years, of all that parcel of land described in the Schedule to the Ordinance of the Provincial Council of Canterbury, Session xxvii., 1867, comprising 5000 acres, at a moderate rental, with power to purchase at the expipation of seven" years, 125 acres of the laud, in blocks of twonty-fivo acres, at the rate £2 per acm. It is compulsory upon the Company to bring down to Greymouth 5000 tons of Coal within eighteen months of the dace of the Lease, and to construct a Tramway or Railway over a portion of the Estate ; after that time 10,000 tons of Coal must be gained annually, the Company J paying to the Government a Royalty of sixI pence per ton. By a Proclamation of His Honor the Superintendent of the Province of Canterbury the Company are also empowered to construct a line of tramway or railway over the waste lands of the Crown, extending • from the boundary of the Reserve to the