Page 3 Advertisements Column 3

Kumara Times, Issue 637, 12 October 1878, Page 3

PROSPECTUS OF THE TAIL-RACE COMPANY (Limited). Capital, £3OOO ; in 3000 Shares of £1 each'... One Shilling per share on application ; Is. 6d. per share on allotmentand | Calls not to exceed Is. per share per I month. ■ PROVISIONAL DIRECTORS : Messrs Edwin Blake, Kumara Henry Cornfoot, Kumara R. J. Seddon, Kumara Henry Brown, Kumara Philip Cullen, Kumara L. J. Spyers, Kumara William Porter, Kumara I ' 1 Andrew Crawford, Kumara. bankers; The Bank of New Zealand. j SECRETARY : i [ William Nicholson. I ““ “ I t - ! The object of the proposed Company j is to complete a Tunnel Tail-Race from I the Teremakau River to the Shamrock j Lead, for the purpose of sluicing all adjacent ground, together with a Claim belonging to the Company, through i which the lead of gold has been proved | to run. | The Tunnel has been driven 2018 j feet, and a shaft sunk 95 feet in conI nection therewith, and it is contem--1 ] plated to extend the Tunnel abont 700 j feet further, which, -when completed, ’ | will terminate at what is now known : j to be the best sluicing ground in the | district. s ■ The promoters are so sanguine of [ j the undertaking proving a success that j they are willing to accept 600 paid-up > i , shares in the new Company in full payment for the purchase of their rights for all labour already done and expenses incurred.

The boxea will be constructed to carry 80 government heads of water, thereby enabling a large number of claims to sluice into it at a small rental, which would otherwise entail a great amount of labour, and expense in bringing in private tunnels such a distance, vifc., 2700 feet • The promoters confidently express the opinion that the future operations I of the new Company will materially tend to develope a very extensive portion of this district, which must of necessity largely increase the commercial prosperity of Kumara. They therefore invite the attention of the public to the present undertaking as a safe and payable investment. From the promises of support already received the promoters conclude that the Company will be floated on an early date; and, as soon as 1500. applications are received, will commence further operations. Applications for Shares will be received by WILLIAM NICHOLSON, Opposite Public Hall, Main Road.