Page 4 Advertisements Column 3

Kumara Times, Issue 161, 10 April 1877, Page 4

fTIHE WAINIHINIHI WATERRACE COMPANY, LIMITED. Established under “ The Joint Stock Companies Act, 1860.” Capital £30,000, in 6000 Shakes op £5 Each. The Capital to be paid up by Calls, not exceeding 5a per Share, at intervals of not less than one month. Deposit, 2s 6d per : Share. Provisional Directors : Mir E. Barff, Mr J. Cole, Mr H, Cuming, Mr J. Chesney, Mr H. Friend, Mr M. floulahan, Mr W. Henderson, Mr J. Kerr, Mr D. M*Connon, Mr C. Riley, Mr A, Williams, Mr W. Barron, Mr D, Cowen, Mr W. Cornfoot, Mr J. Evans, Mr 6. Gordon, Mr W, Haworth, MrE. Jones, Mr D. Matchett, Mr A. M‘Grae, Mr J. Rugg, Mr P. Williams. And nil those subscribing the MemoraOr dum of Association. Bankersr The Union Bank of Australia. . Solicitors: Messrs Button and Reid. Engineer Atfo Manager : Mr James Wylde, O.E. 'Gold-field has now been tobe of such ah immense extent, that, yf hen, the water-races-.hitherto prothe Waimea Race—are brought-on to the ground they, will be utterly inadequate to supply the requirements -df the miners. Every head, of wate't that can possibly be brought on to the field will be eagerly taken at rates w&fch'will insure a very large profit to the proprietors of the 'water, and at the same time will allow the miners to obtain large and steady returns. Whilst there are several leads which can be and are being worked profitably by tunnelling and driving out the ground, there are miles of country which can only be worked by ground sluicing. At the present time it is estimated that there are about 4000 miners on the field ; but this number would be greatly increased if water for ground sluicing was available. It has been found by preliminary surveys that the whole of the country from the sea to over 25 miles inland, including the whole of the Kumara goldfield can be commanded by a race from the Wainihinihi river (which is one of the sources of the Teremakau), whilst there is ample fall for tail water throughout the whole distance into the Teremakau. It has also been ascertained that a race from the Wainihinihi could be formed almost entirely by open ditching, and that there will be no need of expensive tunnels or fluming, The race which it is proposed to make will be about 20 miles in length, and will give a constant supply of 50 heads of water.

The estimates for the proposed work, which have been carefully prepared, shew that the cost of the race will be about .iSQ,OOO,, apd in fixing. th.e .amount, of capital of the company a large'margin has been provided for unforaeen contingencies. The promoters of the Company have obtained all the necessary grants and protections required under the Goldfields Act. They have also had a preliminary survey made by experienced engineers, and have paid the costs of registering the : Company, &&, for which, and for their interest tn..t^e s they have agreed to accept 600 . paid-up shares In the Company. The receipts from the sale of water are estimated at £12,500 per annum, which, after deducting £3OOO per annum for maintenance and management, will leave a profit of £9,500 per annum, being over 30 per cent, on the capital. , Applications for shares in the following forth may be' addressed to the manager:— Wainihinihi Water-race Company, I hereby apply for shares in the above-named Company, in respect of which I enclose 2s 6d per share deposit, and I agree to accept the same or such leaser number of shares as may be allotted to me. Name in full Occupation Address Bate EST LAND STEAM COFFEE AND SPICE MILLS. WHARF STREET, HOKITIKA. FOR SALE. FREEHOLD SECTIONS. rpHE undersigned have For Sale a few , .Sections fronting on Main Road, ana Union-street, in the Township of .Kumara South. F. A. LEARMONTH & CO. M T. CHALMEB S, NIGHT WATCHMAN AND LAMPLIGHTER. Address :-Mrs. Leach’s, Auld Reekie Hotel, Seddcn-street, Limited. PATERSON BROS., Commission Agents, Hokitika.