Page 4 Advertisements Column 3

Kumara Times, Issue 170, 20 April 1877, Page 4

milE WAINIHIKIHI WATERx RACE COMPANY, LIMITED. Established under “ Tlio Joint Stock Companies Act, 1860.” Capital £30,000, in 6000 Shares of £5 Each. The Capital to be paid up by Calls, not exceeding 6s per Share, at intervals of not less than one month. Deposit, 2s 6d per Share. Pro vision ax, Mr E. Barff, Mr J. Cole, Mr H. Cuming, Mr J. Chesney, Mr H. Friend, Mr M, Bnulahan, Mr W. Henderson, Mr J, Kerr, Mr D. M'Connon, Mr O. Riley, Mr A. Williams, Directors : Mr W. Barron, Mr D. Cowen, Mr W. Oornfoot, Mr J. Evans, Mr G. Gordon, Mr W. Haworth, Mr E. Jones, Mr D. Hatchett, Mr A. M'Crae, Mr J. Rugg, Mr P. Williams. And all those subscribing the Memorandum of Association. Bankers: The Union Bank of Australia. Solicitors ; Messrs Button and Reid. Engineer and Manager : Mr James Wylde, O.E. The Kumara Gold-held has now been proved to bo of such an immense extent, that when the water-races hitherto projected—including the Waimea Race—are brought on to the ground they will be utterly inadequate to supply the requirements of the miners. Every head of water that can possibly be brought on to the field will be eagerly taken at rates which will insure a very large profit to the proprietors of (he 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 Uruo it is estimated that there are about 4000 minors on the field • but (his number would be greatly increased if water for ground sluiciua 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 aistance into the Teremakau. It has also been ascertained ihat a race from the Wainihinihi could be formed almost entirely by open ditching, and that there will be no need of expensive tunnels or flumiug, The race which it is proposed io make will he 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 ,£20,000, and in fixing the amount of capital of the company a large margin has been provided for nnforseen contingencies. The promoters of the Company have obtained all the necessary grams and protections required under the Goldfields Act. Tiny have also had a preliminary survey made by experienced engineers, and have paid the costs of regislorin-; the Company, Ac., for which, and fur their interest in the race, they have agreed to accept GOO 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 form may be addressed to the manager;— WAiNiHiNim Water race Comrany, Limited. I hereby apply fur 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 lesser number of shares as may be allotted to me. Name in full Occupation Address Date j PATERSON BROS, S T'L AND COFFER AND MILLS. STEAM SPIOE WHARF STREET, HOKITIKA. FOR SALE. FREEHOLD SECTIONS, ryiHE undersigned have For Sde a few - a - Sections fronting on Main Road, and Union-street, in the Township of Kumaia Son'll. F. A. LEAR MONTH & CO , Commission Agents, Hokitika. M H. T. C ii A .L 31 E It S. EIGHT WATCHMAN AND LAMPLIGHTER. Address Mrs. Leach’s, Auld R.-ekie Hotel, Seddcn-strcet.