Page 3 Advertisements Column 2

Wairarapa Daily Times, Volume XII, Issue 4005, 6 January 1892, Page 3

PROSPECTUS WAIOTAPU OIL AND MINERAL COMPANY (Limited), To bo Registered under tho Compauy's Act, 1882,-audits Amendments, Capital £IOO,OOO (With power to Increase.) In 100,000 shares of £1 each, of which 50,000 fully paid up shares will be allotted to the vendors, The balance, of 50,000 are now offered to the public on tho following torms—viz,, 2s Cd por sharo on application, 2s 6d per share on allotment, 2s Od per sharo in three months, and 2s 6d per share in six mouths, and the balanco in calls, or as much as may be required, not exceeding 2a Gd por sharo, to bo wado'at lutorvals of not less than throo months, Directors: To be appointed at the First Meeting of Shareholders, Bankers : Bank of Australiaift, rxapior. Urokehb : NAriER-BAKER He TABUTEATT. Wkuinoton-UERY&CO. Auckland-FRATER BROS. Donemn-R.A.SUOTT. Rotorua-D. GRIFFITHS. Solicitors : . Napier, Now Zealand, Salisbury & Logan- Melbourne, Austin Rakor. , Secretary (pro fern.) F, B, Scott, Waiutapu, Rotorua. 11H1S Company is formed for the . ; purposo of acquiring from tho owners all benefits whataoovor and all rights under certain cleoda of lease from tho Crown which are being granted by tho Crown to eortain of the Vendors, comprising in all an area of 240 acros, situated in tho Waiutaou Valloy, near Kotorua, New Zealand, and for tho purpose of working Petroleum, Oil, and the various Minorals, Hematites, Aoids, Ores and Clays, which aro found on tho property to bo comprised in such leaßcs, The survey of the lauds Ins recently been completed under directions from the Survoy Office, and tho leases will bo prepared and issued at onoo. Before the Menionndum and Articles of Association aro registered the leases from tho Crown will bo open for inspection at tho office of the Company's Solicitors at Napier. Tho torms of purchase ate as follows; -The vendors shall receive £IO,OOO in cash andauall have allotiedto thorn 50,000 fully paid up shares in tho Company. An agreement embodying tho terms of the sale and purchase will be incorporated with and form part of the Memorandum and Articles of Association of tho Company. The yendors are—Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Strathmore j F. Logan, solicitor, Napier; W. Fawkner, gentlemar, Napier; Francis Bornard Scott, gentleman, Waiotapu; J.C. Rankin, runholder, Strathmore; who guarantee that all monies will bo returned in the oyont of the Company not being floated,

MOSPEOTS, Petroleum of a very fine quality has been found In a number of places, and the ground, in many portions of the Company's loaso, is fairly saturated with It; in the creeks also it is to be seen flowing freely, clearly Bhowinc: that wells of this rock Oil exist somowhere in this locality, and hayo been er.uding and running to waste for years back. It it anticipated that when proper appliances aro brought to bear for boring, Oil will be reached at no great depth. Being in the region of thermal action, tends also to favour the opinion of a great Petroleum source being situated in this locality—aa in Russia' it is found in its greatest state of purity and quautity in the region of active volcanic centres—and iu Walotapu the oil actually undergoes a process of distillation in coming to the surface on account of this fchormal action and its mixing freely with Sulphuric Acid, Valuable clays and hematitos aro to be found m large quantities, also iron ores, oxides, and many other valuable ores and pigments—all of whioh will find a ready market.

Tho urea for operations consists of the most valuable portion ol the famous sight-seeing Waiotapu Valloy, and it iB nituate.d about 20 miles from Botorua, Tho property is approached from Rotorua by a main line of road leading to Strathmore, Wairakei, andTaupo,and another branch line to Galatea, which latter forms the eastern boundary. It is also well watered by tho Waikokomuku, a large fresh water stream, and the Hakitikito, a hot water creek, which runs right through tho land compisod in the leaseMany valuable hot mineral baths with strong curative properties exist on the ground. Samples of the various minerals are open for Inspection at the offices of Messrs Laery and Co,, Willis street. REMARKS FROM VARIOUS AUTHORITIES. Analysis by Dr Hoctor, New Zealand Geo. Survey Laboratory. " This is good Petroleum-its specific gravity is '864, and it yields good commercial kerosene." (Signed) J. Hector. From Gerhard Jluollor, Esq., Commissioner Crown Lands. "Ihaye been surprised beyond measure to seethe exudations of Pctroloum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts," G. 0. MoAuloy, Esq., Rotorua, 19th Novombor, 1891, " I was shown ovsr only a Bmall portion of the ground, and in all places found Oil flowing freely-oven in the bottom of tho stream—the earth is also full of Oil. I consider tho prospect is an excellent one. Tho numerous and varied coloured earths are also very valuable." F.B. Scott, Esq,, Auckland, November, 1891. " I have resided in the locality of the Waiotapu Petroleum Springs for the lastfcur years, and •have had every opportunity of calmly considering tho probability of a reservoir existing in that locality. Throughout all this company's ground, oil is to bo got on the surface, a few feet below it, and also in the bed ot the creek, Hundreds of gallons must have been finding their way down this stream weekly,- 1 consider tho very fact of the ground being so much disturbed by yolcanic acenoies, is very favourable to the supposition of subterranean cayems existing capablo of containing large reservoirs of oil, which are often deficient in regular sandstone formation,

Apart from the' petroleum,. tho value of this property is greatly unhanced by the interesting variety of hematites, acids and clays, which are found to purmeate tho whole formation,' A compound which might be-termed paraffin butter is also found in quantities, This is a curious substanco, and is' very useful and effective as an anti-Motion grease,' '. Tho petroleum In \\i crude stato makes an salve,' and ». largely used by the natives tor horse Bores,'scalds, and wounds. '' . '' NEWSPAPER EXTR4OTS. Hot Lakes Ohroniolo, Kotorua, 23rd , Oct., 1891. , ..-■..! "The -, importance. of this : find prorapte'd us to take an interest' in (he matter by seeing for ourselves what the prospects really are; With this view we paid a visit tp.the Valley, The.Oil is seen floating down a creek, and as we walked along our footsteps caused a more perceptible flow, Tho Oil is not confined to the creek alone, but some distance away it is also found; in fact the ground •is perfectly saturated jvitli it' The indications pf Oil ar'eptqcise]yßimilap tp those found at' Oil Creek, Penn» syivimia, in 1860, when raoro than.'a thousand wells were bored from' 600' to COO feet deep, and in 1869 many of the wells yielded regularly 300 barrels por day. We mention this to show that It i"b possible, and indeed probable, that the Waiotapufind may be of the "utmost importance Jo Ney Minds'.-Tno'jiro snects'are undoubtedly good'and eyeryr thing is being done to wake the' venture a Ac, fa), From the N,Z, Herald, Auckland, Noi 'veniber. • ; , ; ,;/'•• ;■ " Many, persons hayo visited the, Waio; ta'pu Oilaad Mineral Company's ground during the past week, and a good many of thoso who havo been hitherto inoredu. Ipus, Mr Scott allowed them to dig for