Page 4 Advertisements Column 3

Kumara Times, Issue 177, 28 April 1877, Page 4

PHE WAINIHINIHI WATERL RACE COMPANY, LIMITED. Established under " The Joint Stock Companies Act, 1860." Capital .£30,000, m 6000 Shabm op £5 Each. The Capital to be paid tip by Callß, not exceeding 5s per Share, at intervals of not less than one month. Deposit, 2a 6d per Share. Provisional Directors : Mr E. Barff, | Mr W. Barron, Mr J. Cole, Mr H. Cuming, Mr J. Chesney, Mr H. Friend, Mr M. floulahan, Mr W. Henderson, J Mr E. Jones, Mr J. Kerr, Mr D. Matchett, Mr D. M'Connon, Mr 0. Riley, Mr A. Williams, Mr D. Cowen, Mr W. Cornfoot, Mr J. Evans, Mr 6. Gordon, Mr W. Haworth, Mr A. M'Orae, Mr J. Rogg, Mr P. Williams, And all those subscribing the Memoran- . dum of Association. Bahkbbs: The Union Bank of Anstraßa. SotlOITOEfl : Messrs Button and Reid. Engineer and Manager : Mr James Wylde, C.E. The Kumara Gold-field has now been proved to be 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 Bupply.the requirements of the miners: Every head of water that can possibly be brought on to the field will be eagerly taken at raleß 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 Burveys 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, _Th e race which it 1b 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, chew that tbe coot 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 unforaeen contingencies. The promoters of the Company have obtained ell the necessary grantß 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, <fcc., for which, and for interest in the race, tbey 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 oent. on the capital. t Applications for shares in the following form may be addressed to the manager:— Wainihinihi Water-xace Company, LiMITKD. T hereby apply for shares In the above-named Company, in resDeot 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., w ESTLAND STEAM COFFEE AND SPIOE WHARF STREET, HOKITIKA. FOR SALE. FREEHOLD SECTIONS. B~IHE undersigned have For Sule a few • Sections fronting on Main Road and Uuion-street, iu the Township of Kumava South. F. A. LEARMOMTH & CO., Commission Agent?, Hokitika. CHALMERS, iNIGHT WATCHMAN AND LAMPLIGHTER. Address .-—Mrs. Leach's, Auld Reekie Hotel, Seddcn-street.