Page 1 Advertisements Column 4

Grey River Argus, Volume VI, Issue 404, 15 August 1868, Page 1

TJROSP E C T U S OF TUB GREY RIVER COAJL COMPANY (LIMJTEI)j). Capital j— £loo,ooo ; in 2000 shares, of £50 eacli, (Established under the Joint Stock Company's />ot, N.#, 18G0), Of which amount it is proposed now to raise £25,000 by the issue of five hundred shares. £2 deposit to be paid pn application ; a further sum of £3 on allotment ; aud the balance at intervals as required. No call to be made with less than two months' notice, and then. not to exceed £5 per share. :: POVISIONAL DIRECTORS. CURISTCHOKCIH. Geo. Buckley, EsQ.,-TiI.P.G. H. P. Murkay - Ayssley, Esq., M.P.C., J.P. " Geo. Holmks, Esq. J. Lnglis, Esq. W. S. Moounou.SE, Esq., J.P, W. Rkevkb, Esq., J.P. E. Richakdson, Esq. ' R, H. Rhodes, Esq., M.P.C., J.P. W. Wtlson, Esq., M.P.C., Mayor of Christchurch. OREYMOUTH : LOCAL COMMITTEE. James K err, Esq. Gerald Peuotti, Esq. W. S. Smith Esq. Jos. Ktlgouk, Esq. Harry KeSrjck,, Esq. Bankers ... ... ■ Consulting Engineer... Edward Dobson, Esq. Solicitors . Messrs Haimier and Harper. Hon. Secretary ...f J. Ollivier. AGENTS^:— Greymouth — Messrs D* Maclean and Co. Hokitika— Mr E. W.'Jpxiss; Mr Mark Sp^ot. ~ ■ 1 ■ Memorandum of 1. The name of the con pany is the Grey River Coal Company (I mited). 2. The Registered Olfic j of the Company is to be established iv t c Province of Canterbury. 3. The objects for whi :h the Company is established are— the wor :iiig of certain Coal Mines situate near to th t Grey River ; and the sale of their produce n sucli manner respectively as the Company may from time, to time determine ; and thi doing of^'all such things as are incidental or conducive to the attainment of the above objects. 4. The Liability of tlie Shareholders is "Limited." £ „*V. 5. The Nominal Capital of 'the Company is £100,000, divided into 2000 shares of £50 each. ;• .v P3OSPB G'T U S . ".4 country without J^kl is deprived^of, perhitjjsi the, most pawerfulMgentof civilisation. In these days oj Steam Engines, Steamboats,, and Jiailwayx. on the use of which toe are dependent for commercial intercourse and the provision of innumerable wants, Coal, the prime mover of this vast machinery, is an absolute necessity, and if it be not produced within our own country, we must draw our supplies, at great cost, from otfw.r places. It is a fortunate circumstance that, with few exceptions, wherever important British Colonies have been founded, there lias also been found a local supply of Coal. Thus the Colonists of that race which, above all others, has attained great national jn-osperity 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, ISGS. As far back as June, 1862, the promoters of the Grey River Coal Compauy met together for the purpose ot developing the vast mineral resources of the Grey District, and in 18G3 the conditions upon which they were to lease tlie lands reserved by the Provincial Government of the Province of Canterbury were agreed to between the Provincial Government and themselves ; aud Mr Dobson was directed to make an examination of the Reserve, and to report generally upon the Coal Field, and the character of the country lying between it and the place of shipment at Greymouth, but unlooked-for obstacles sprung up and prevented 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 less, upon terms that fully justify them in inviting the co-operation of the public iv developing the resources of this remarkable Coal 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 water level, and which aro 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 Avell fitted for steam generating purposes as auy found in I 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 the Coal. The testimony of the Captains of Steam Vessels aud 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 Ihe ship's side, the balance in its favor would be much greater. The Lease granted to the Compauy is 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 expiration of seven years, 125 acres of the laud, in blocks of twenty -five 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 date 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 paying to the Government a Royalty of sixpence 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