Page 3 Advertisements Column 5

Kumara Times, Issue 566, 20 July 1878, Page 3

PEOSPWCTUS OF THE fjiAIPO QUARTZ MINING 1 COMPANY (Limited). ARAHURA DISTRICT, COUNTY OB* WESTLAND. Capital : £IO,OOO, in 10,000 Shares of £1 each. Sixpence per share on application ; 6d, per share on allotment; and Calls not to exceed 6d. per share petf month. PROVINCIAL DIRECTORS : James Holmes, Esq., Hokitika A. L. King, Esq., M.C.C., Hokitika Thomas Cooke, Esq., Hokitika 1 Jeorge LJatli, iwj., iiokitika • James Chesney, Ksq., Hokitika .Jose;.h Chim-he-, (o*q.. Hokitika 11. Hae, l\.sq , Hoki'ika • ..'harh-s Linn<>inann, K«q., ll..k:tika linns J. Hansen, Ksq.. Hokitika Thomas Haivorth. Ksq., Hokitika: The Union Hank of Australia. solicitor : C. E. Button, Ksq. SECRETARY : J. E- Cndilefoi d, pro tern. The oiiject of the proposed Company is to work the lease of the Hnferpri*e Mining Company, Taipo. x The claim is situated on Parry's Range, Arahnra Dintrict, aboiit seven miles from the Christchnrch road, and thirty-seven miles from Hokitika. The claim contains an area of 20 acres, granted us a lease to the present company by the Governor's- Delegate. The prospectors have already ex; pended a sum of .£ISOO in driving a tunnel, sinking a shaft, and generally testing the grduud. Two distinct and well-defined reefs have already been tested in the claim—* one in the shaft and the other in tile tunnel. They are about 200 feet apart; the average width is 3ft 6in an 2ft 6ia, The stone is equal in richness. The tunnel has been driven 150 feet, and the shaft is now down 30 feet. It | is proposed to extend the tunnel so as [ to strike the reef which is being worked in the shaft. A trial crushing of abont eight hundred weight o(£stone and rubble, taken from both reefs, took place at the Bank of New Zealand, Hokitika, some time since and yielded at the rate of sozs 6dwt to the ton. The payable quantity of the stone having been thus satisfactorily proved, it is proposed that the new Company shall work the ground in a more systematic manner and on a more extensive scale than hitherto, and it ia confidently anticipated that with the aid of machinery, the mine will prove remunerative to an extent greater than is the case with regard to many of the best reefing companies on the West Coast. The claim is commanded by an extensive and never failing supply of water at a high level, which can be brought on to the ground at a compara-* tively small cost, for working the batr tery. When increased labor has. opened up rrv . i ~ .sitmcient to kedp a heavy battery continually employed. The road connecting the reefs With the main Christchnrch road has been fiuished by the Government, and every facility is now o&ered for the conveyance of machinery to this undoubtedly payable field. The promoters and shareholders in the present company have such conn- 1 deuce in the remunerative nature of the ground, that they are willing to accept two thousand four hundred paid up shares in the new Company, in full payment for the purchase of their entire right and title in the .lease, for all labor already done, and expenses incurred. The promoters are assured that the undertaking will prove a complete success, and confidently express an opinion that the future operations of the new Company will materially tend to the development of a very extensive track of reefing countrv, which, when opened up, must of necessity largely increase the commercial prosperity of Hokitika, as being the nearest town and port to the goldfield. They, fore, invite the attention of the public to the present undertaking as a safe aud paying investment. The promises of support already received justify the conclusion that the Company will be floated at a very early date, and appli* cations for shares are invited. Forms of application to be obtained' from any of the Provisional or the Secretary, , JAMES E, CUDDEFORD, i Corner of Wharf street. Hokitikfti