THE NEW ZEALAND AND GOAL COMPANY.

Grey River Argus, Volume XII, Issue 1523, 21 June 1873, Page 2

THE NEW ZEALAND AND GOAL COMPANY.

[southern cross.]

In our advertising columns will be found the prospectus of the New Zealand Land and Coal Company. The capital of the company is LIOO,OOO, in shares of LlO each. Nearly one-third of the whole amount of capital haa to be subscribed in the colony, the other portion having been subscribed in Britain. The object of the company ifj to work the coaj syams in the Wharekawa Valjey, lying' between the Miranda and Surrey redoubts. The area of freehold land owned by the company is 12,38,0 acres, and it is intended not only to open the coal seams proved to exist in that district, but to lay down a railroad from the pits to conneot with the Auckland and Waikato Railway on the one side, and on the other side with Pukorokoro Creek, which is navigable for ordi-nary-sized vessels, and which affords an easy, way of conveying the coal to Grahamstown, Coromandel, and many of the

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other minirg districts on the seaboard in need of coal. The seam, $o far as it has been proved, is 10ft thick, and.it is believed to extend under nearly the whole of the company's property. The quality of the coal was proved at the Thames gold field some time ago, and several months since we published the report made by Mr Lowe, C.E., who examined the property. Ironstone, timber, limestone, flax, &c, are all found on the land in great abundance. A large portion of the land owned by the company is good agricultural land, and it is their intention to set apart some -6000 acres or so for small farms on easy terms, in order to encourage the bona fide settlement of the property. A township will be laid out at the mines, and everything done to make the scheme a great commercial success. Extensive plant is now on its way from LondoD, and a screw collier has been built for conveying the coal from Pukorokoro to Grahamstown. It is not the intention of the directors to wait until the plant arrives here before making a start at work. Active operations will be commenced as soon as the share list is ' closed. Already it is stated a large demand has sprung up for -shares both in large and small parcels.