Page 1 Advertisements Column 5

Kumara Times, Issue 626, 30 September 1878, Page 1

PROSPECTUS OF THE ■ TA 1P O QUA RTZ MINI Nii COMPANY (Limited) ARAHURA DISTRICT, COUNTY OP WESTLAND. Capital,: ‘£lo,ooo, in 10,000 . Shares of £1 each.. Sixpence per share on* application J 6d. per share on allotment; and Calls not to exceed 6d. per share per month. A PROVINCIAL DIRECTORS : James Holmes, Esq., Hokitika ■ A. ',L.-King, ,Esq.,. M.C.C., 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- Cuddeford, pro tem. The object of the proposed Company is to work the lease of the Enterprise Quartz Mining Company, Taipo. The claim is situated on Parry’s Range, Arabura -District, about seven miles from the Christchurch road, and thirty-seven miles froin Hokitika, The claim contains an . area of 20 acres, granted as a lease to the present company by .the Goverhor’s DeibgaM', ; The prospecfcork haVe 1 already ex-' pended a sum of £I3OO 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-r----dhe in the shaft and. tlie-other, in the tunnel. They are about 200 feet apart j the average width isJ3ft.6in an 2ft 6in. The’stone is equal in richness;. . . •; The tunnel has been driven 150 feet, and the shaft is po\v down 30 , feet. It is proposed to extendjhe 'tunnfel so’ as to strike the reef .which is being worked in the shaft. , . A trial crushing pf about eight hundred .weight of stone, and rubble, taken froin 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 beep 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 rgafl connecting the 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 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 couutrv, which, when opened up, must of necessity largely increase the commercial prosperity T of Hokitika, as being the nearest town and port to the goldfield. They, therefore, invite the attention of the public to the present undertaking as a safe and paying investment. The promises