Page 1 Advertisements Column 5

Kumara Times, Issue 669, 19 November 1878, Page 1

PROSPECTUS 1 COMPANY (Limited). ARAHURA DISTRICT, COUNTY OF WESTLAND. Capital : .£IO,OOO, in 1(1,000 Shares of £,l eacb. Sixpence per share on application ; 6d. per share on allotment; and Calls not to exceed 6d. per share per month. 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 Ha worth, Esq., Hokitika. bankers: The Union Bank of Australia. SOLICITOR ; C. E. Button, Esq. SECRETARY : J. E- Cnddefoidj pro tem. The object of the proposed Company is to work the lease of the Knterprihe Quartz Mining Company, Taipo. The claim is situated on Parry*s Range, Arahura District, al-otit seven miles from the Clmstchureh 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 dliving a tunnel, sinking a shaft, and generally testing the ground* Two distinct and well-defined reefs have already been tested in the one in the shaft and the other in the tunnel. They are about 200 feet apart; the average width is 3ft 6in an 2ft 6im 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 about eight hundred weight of 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 oozs 6d wt to the ton.

The payable quantity of the stone having been thus satisfactorily p.rovedj it is proposed that the new Company sha.ll 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, the reefs with the main Christchurch road has been finished by the Government, Rnd every facility is now oftered for the conveyance of machinery to this undotibtedly 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 the undertaking will prove- a complete success, and ooafidently express an opinion that the future operations of the iihw Company will materially tend to the development of a very extensive track of ree'iu" countrv, -Which, when opened tip, uui-fc of necessity largely increase the uouwu-jccial prosperity of Hokitika, as beitio- the nearest tovn and pot-!-, to the goiuiieU. They, therer'or«>, invito the at;ention of the public to ih - jires'iMj-. if. Try.-takingr aa a safe and paymg investment. Tae promises