Page 4 Advertisements Column 3

Kumara Times, Issue 172, 23 April 1877, Page 4

rnHE WAINIHINIHI WATERRACE COMPANY, LIMITED. Established under “The Joint Stock Companies Act, I 860.” Capita! j£30,000, in 6000 Shares op £o 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 Mr E. Barff, Mr J. Cole, Mr H. Cuming, Mr J. Chesney, Mr H. Friend, Mr M. JBoulahan, Mr W. Henderson, Mr J. Kerr, Mr D. M'Connon, Mr 0. Riley, Mr A. Williams, Directors: Mr W. Barron, Mr D. Cowen, Mr W. Cornfoot, Mr J. Evans, Mr G. Gordon, Mr W. Haworth, Mr E. Jones, Mr D. Matchett, 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 t Mr James Wylde, C.E. The Kumafa Gold-field has now been proved to be of such an immense extent, that when the water-races hitherto prothe Waimea Race*—are brought on to the ground they Will be utterly inadequate to supply the requirements of the miners. Every head of watpr that can possibly be brought on to the field will be eagerly taken at rales which 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 fuming. The race which it is proposed to make will be about 20 miles in length, and will give a constant supply of 60 heads of water. The estimates for the proposed work, which have been carefully prepared, shew that tbe 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 unforseen 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, &c., for which, and for their interest in the race, they have agreed to accept 600 paid-up shares in the Company. The receipts from the sale of water are estimated at £12,600 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:— Wainihinihi Water-race Company, Limited. 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 lesser number of shares as may be allotted to me. Name In full Occupation Address Date PATERSON BROS., ESTLAND STEAM COFFEE AND SPICE MILLS. WHARF STREET, HOKITIKA. FOB SALE. FREEHOLD SECTIONS. rriHE undersigned have For Sale a few Sections fronting on Main Road, and Union-street, in the Township of Kumara South. F. A. LEARMONTH & CO , R. T. CHALMERS, NIGHT WATCHMAN AND LAMPL Address Mrs. Loach’s, Auld Reekie / Hotel, Seddcn-street. Commission Agents, Hokitika. LIGHTER.