Page 1 Advertisements Column 5

Kumara Times, Issue 623, 26 September 1878, Page 1

PROSPECTUS OP THE rpAIPO QU A lITZ MINING 1 X COMPANY (Limited). ARAHURA DISTRICT, COUNTY OF ;■ WESTLAND.. . - . h Capital : £IO,OOO, in 10,000 Shares !■ of £1 each. < Sixpence per. share on application ; 6d. i per share on allotment; and Calls i not to exceed 6d. per share per I month. PROVINCIAL DIRECTORS : ! James Holmes, Esq., Hokitika j A. L. King, Esq., M.C.G., Hokitika ! Thomas Cooke, Esq., Hokitika ! James Pearson, Esq., Hokitika George Bath, Esq., Hokitika James Chesney, Esq., Hokitika Joseph Churches, Esq., Hokitika H. Richardson Rae, Esq., Hokitika Charles Linnemann, Esq., Hokitika Hans J. Hansen, Esq., Hokitika Thomas Haworth, Esq., Hokitika. BANKERS: The Union Bank of Australia. SOLICITOR: C. E. Button, Esq. SECRETARY : J. E- Ouddefor.d, pro torn. The object of the. projawed Company is to work the lease of the Enterprise Quartz Mining Company, Taipo. The claim is situated on Parry’s ‘Range, Arahnra District, alout seven miles from the Christchurch road, and thirty-seven miles from Hokitika. The claim contains an area of 20 acres, granted as a lease to the present company by the Governor’s Delegate. The prospectors have already Expended a sum of £ISOO in driving a tunnel, sinking a" shaft, and generally testing the ground. Two distinct* and well-defined reefs have already been tested in the claim—the average width is 3ft 6in an 2ft 6iu. The stone is equal in lichness. The* tunnel has been driven 150 feet, and the shaft is now down 30' feet. It is projmsed to extend the tunnel so as to strike the reef which is being worked in the shaft. . A trial crushing of about eight hundred weight of stone and nibble, 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 is 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 comparatively small cost, for working the battery. When increased labor has opened up the reefs there will be a supply of quartz sufficient to keep a heavy battery continually employed. The road connecting Hie reefs with the main Christchurch road has been finished by the Government, and every facility is now offered for the conveyance of machinery to this undoubtedly payable field. The promoters and shareholders in the present company have such confidence 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 in curred. The promoters are assured that th( undertaking will prove a complett success, and confidently express ar opinion that the future operations o ! the new Company will materially tern to the development of a very extensive track of reefing country, which, whei opened up, must of necessity largeb increase the commercial prosperity o Hokitika, as being the nearest towi and port to the goldfield. They, there , fore, invite the attention of the publi y to the present undertaking as a saf and paying investment. The promise