Page 1 Advertisements Column 4

Grey River Argus, Volume VI, Issue 412, 3 September 1868, Page 1

PROSPE C T U S OF THE GREY RIVER COAL COMPANY (Limited).' Capital :— £loo,ooo ; in' -2000 shares, of £ ; j0 eac'%.. , (Established under the tfotut Stock Company's Act, N.|., I860), Of which amount it is proposed now to raise £25,000 by the issue. pf^five hundred shares^, t£ £2 deposit to be x>aid|o« application ; a further sum of £3 on allotment ; and the balance at intervals as reqwy^cl.' r No call to be made wJln^less than two months' notice, and theif not to exceed £5 per share. POVISIONAL DIRECTORS.. CURISTCHURdH. Geo. Buckley, Esq.; M.P.C. H. P. Murray's. Ayjjsley, Esq., M.P.C, J.P. Geo. Holmes, Esq. J. Inglis, Esq. W. S. MooraiotrsE, Esq., J.P, W. Reeves, Esq., J.P. E. Richardson, Esq. ' R. H. Rhombs, Esq. >. M.P.C, J.P. W. WjLSbx, Esq., M:P.C., Mayor of Christchurch. greymol7th : local committee. Jamks Kerr, Esq. Gerald Perotti, Esq. W. S. Smith Esq. Jo&vKtlgour, Esq. Harry Kenrick, Esq. Bankers ...• •■'.';; — Consulting Engineer.. .Edward Dobson, Esq. Solicitors . Messrs Hanmer and Harper. Hon. Secretary ... ; J. Ollivier. AGESig|~ Greymouth — Messrs/D. Maclean and Co. Hokitika— Mr E. W. Jones; Mr Mark Sprot. Memorandum o? : Association. 1. The name of the domp'any is the Grey River Goal Gomtany (Limited). 2. The Registered Office of the Company is to be established in the Province of Canterbury. 3. The objects for which the Company is established are— the working of certain Coal Mines situate near to the tirey 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 are 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 each. . . .^.--..^ ; - - PROS I'ECTUS. "^4 country without Coal is deprived of, perhaps, the most powerful agent of civilisation. In these days oj Steam Engines, Stea77iboats, and Railways. O7i the use of which toe are dependent for commercial intercourse a7id the 2)rovisio7i of innumerable wants, Coal, the prime 77iover of this vast machinery, is an absolute necessity, and if it be not produced within our oion country, we must draw our supplies, at great cost, from other places. It is a fortu7iate circumstance that, vnthfew exceptio7is, wherever i77iporta7it British Colonies have been founded, the7'e has aluo been found a local .supply of Coal. Thus the Colon'mts of thai race which, above all othe7-s, has attained great national prosperity by means of its vast mineral wealth, will find in their new countries tlie same agente 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 oi the 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 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 orevented 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 in developing the resources of tins 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, .ill bear testimony to the extent and exceeding richness of the seams of Coal lying above the water levelyjand which are found to be easily accessible. Dr Haast, in his Report, states that the Coal itself cannot I be distinguished from the Newcastle Coal of Australia, its structure, lustre, specific gravity, mineral composition, and combustibility being similar ; and Dr Hector's aualysis of the Coal shows that it is as well fitted for steam generating purposes as 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 Greymouthhave fully confirmed the value and quality of the Coal. The testimony of the Captains of Steam Vessels and their Engineers is to the effect that IGcwt. 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 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 50Q0 acres, at a moderate rental, with power to purchase at the expiration of seven years, 125 acres of the land, in blocks of twenty-five acres, at the rate £2 per acm. It is cou> pulsory upon the Company to bring dovvn to Greymouth 5000 tons of Coal within eighteen months of the date of the Lease, and ta con-/ struct 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 ofsixr 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