CULLIFORD GOLD MINING COMPANY.

Nelson Evening Mail, Volume IV, Issue 258, 2 November 1869, Page 2

CULLIFORD GOLD MINING COMPANY.

We are glad to see that this company have lost no time in getting out their prospectus since they have come to a definite arrangement with the prospectors, lu our advertising colums our readers will see the terms on which the company is to be formed, and most of those we have conversed with on the subject seem to think that they are fair and equitable. Some people seem to thiuk that too large concessions have been made to the prospectors, but those who have had considerable experience in such matters in Victoria, think that the company have to congratulate themselves on having secured such a large quantity of shares. Others object to the payment of the £2000 promised after the company is floated, hut we can only say that had the prospectors been able to hold out such hopes and to produce such specimens in the neighborhood of Ballarat or Clunes, a much larger sum would not only have been asked but readily given. The fact of the prospectors bindiug themselves not to sell their paid up shares under par, for such a long time as nine months after the commencement of the works, and also binding themselves to give the company the first refusal of their interest, in the event of their wishing to part with it, shows that they have every faith in the richness of the reef. It is satisfactory to learn that the gentleman sent up by the Government to report upon the district should think well of the reef so far as he was able to judge, and it must also be satisfactory to those who take an interest in it to hear that, judging from the natural features of the block through which the reef runs, it will be easily and ' inexpensively worked. It is the intention ' of the directors to commence immediately the working of the reef as soon as the shares to be sold are applied for. This is the first gold-mining company that has been formed in Nelson, and it seems a great undertaking to many. It is unlike any company founded on a strictly commercial basis where the profits can be counted almost to a certainty. It is iu the hands, however, of those who will not squander the capital of the company, and if it turns ; out well it will be a fortune to many, and: give an impelus to everything in the place; should it not be productive of such results as are at present anticipated, the shareholders individually will not losemucbj'aud it is always worth while spending a little money in thoroughly testing the ground. Not only for the sake of the company but for that of the Province generally, we trust that the reef will turn out .well and prove most profitable to all concerned."