Page 3 Advertisements Column 2

Wairarapa Daily Times, Volume XII, Issue 4008, 9 January 1892, Page 3

PROSPECTUS OF THE WAIOTAPU OIL AND MINERAL COMPANY (Limited), To bo Registered under-tho Company's Act, 1532, and its Amendments. Capital ... £IOO,OOO (With power to Increaso.) In 100,000 shares of £leach, of which 50,000 fully paid up shares will bo allotted tot ho vondow. The balance of 50,000 aro now offered to the public on tho following torms—viz,, 2b Gd per share oil application, 2s Gd per share on allotment, 2s Od per slwrn in three months, and 2s (in' per share in six months, and the balance i i calls, or as much as may bo required, not exceeding 2s 6d per share, to ho made at intervals of not less than threo months. Directors : To bo appointed at tho First Meeting of Sharolioldors, Bankers : Bank of Australasia, ftapior. iitIUKBKB I Napier—BAKEß & TABUTBATI, Wellington—LAEßY & CO. Auckland-PRATER BROS. I)unedin—H.A.SCOTT. JRotorua—D, GRIFFITHS. Solicitors : Napier, Hew Zealand, Samsbury & Logan. Melbourne, Austin Baker. Secretary (pro (cm.) F. B, Scott, Waiotapu, Rotorua, rnUIS Company is formed''for the i purpose of acquiring from the owners all benelils whatsoever and all ri«lits un Jer certain deeds of lease from the Crown which ore being granted by tho Crown to certain of the Vendors, comprising in nil an area of 2-10 acros, situated in the Waiotaou' Valloy, near Uotorua, Now Zealand, and for the purpwe of working Petroleum, Oil, and tho various Minerals, Hematites, Acids, Ores and Clays, which are lound on the property to bo comprised in such leases. The survey of tho landslns recently been completed under directions from the Survey Office, and the leases will be prepared and issued at once. Before the Jlomonndum and Articles of Association are registered the leases from the Crown will bo open for inspection at the office of the Company's Solicitors at Nafiei. The terms of purchase ate as follows; —The vendors shall receive £IO,OOO in cash and Bhall have allotted to tliom 50,000 fully paid up shares in tho Company. An agreement embodying the terms of tho sale and purchase will be incorporated with aud form part of tho Memorandum and Articlcsof Association of tho Company.

The yendora are—Colin Ross, runbolder, Melbourne; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Strathmore; F. Logan, solicitor, Napier; W. Fawkner, gentlemap, Napier j Francis Bernard Scott, gentleman, Waiotapu; J. C. Rankin, runholder, Strathmore; who guarantos that all monies will be returned in the event of tho Company not being floated. PROSPECTS. Petroleum of a vory lino quality lias been found in a number of places, and tho ground, in many portions of the Company's lease, is fairly saturated with it; in the creeks also it is to be seen flowing freely, clearly shownfg that wells of this rock Oil exist somewhere in this locality, ar.d hayo been exuding and runnin« to waste for years back. It is anticipated that when proper appliances aro brought to boar for boring. Oil will be -reached at no great depth. Being in tho region of thermal action, tends also to favour tho opinion of a groat Petroleum source being situated in this locality—as in Russia it is found in its greatest state of purity and quantity in tho region, uf active volcanic centresand in Waiotapu the oil actually undergoes a process of distillation in coming to tho Burfaco on account of this thermal action and its mixing freely, with Sulphuric Acid,

Valuable clays anil hematites are to be found in large quantities, also iron ores, oxides, and many other valuable ores and pigments-all of whwh will find a ready market, The area for operations consists of the most valuablo portion ot the famous sight-seeing Waiotapu Valley, and it is situated about 20 miles from Rotorua, The property is approached from Eotorua by a main line of road, leading to Strathmore, Waivakei, and Taupo, and another branch line to Ualatoa, which latter forms the eastern boundary, It is also well watered by the Waikokomuku, a large fresh water stream, and the Hakitikito, a hot water creek, which runs right through the land comp r isod in the lease, Many valuable hot mineral baths with strong curative properties exist on tbo "round. Samples of the various minerals are open for inspection at the offices of Messrs Laery and Co,, Willis street.

REMARKS MUM .VARIOUS AUTHORITIES. Analysis by Dr Hector, New Zealand Geo. Survey Laboratory. "This is good Petroleum—ita specific gravity is 'Bl>4, and it yields good commercial kerosene." (Signed) J. Hector. from Gerhard Mueller, Esq., Commissioner Crown Lands. " I haye been surprised beyond meaeuro to see the oxudations of Petroleum at so many, places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts." G. 0. MoAuley, Esq., Rotorua, 19th November, 18P1. "I wbb shown ovw only a small portion of the ground, and in all plaeep found Oil .flowing ficely —oven in the bottom of tho stream—tlie earth is also full of Oil.. I consider the prospect iB an excellent one. The numerous and varied coloured earths ore also very valuable." F, B. Scott, Esq., Auckland, Novembor, 1891. "Ihave resided in the locality of the Waiotapu Petroleum Spring for the lastfeur years, and "haye had every opportunity of calmly considering the probiibility.of a reservoir existing in that locality. Throughout all this company's ground, oil is to be got on the surface, a few fcot below it, and also in tho' bed of the creek, Hundreds of gallons must hayo been finding thoir way down this stream weekly. 1 Consider the very fact of tho ground being so much disturbed by volcanic acencies, ii very favourable to the supposition of. subterranean cay* ems existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation.

Apart from tho potroleum, tl)o value ofthis is greatly enhanced by tho interesting, variety' of hematites, acids and olaya, whiefi me found to jiurmeate tho ivliolo formation, A compound which might bo termed paraffin butter is also found in quantities, This is a curious substance, and is very useful and effective as an anti-friction greaso. The petroleum in its crude state makes an excellent salve, aud is largely' used by the natives tor horse sores, scalds, and wounds. NEWSPAPER EXTIUCKi, ■ Hot Lakes Chronicle, itotorua. 28vd ; Oct., 1801, "Tho importance of this find prompted us to take an interest in tho matter by seeing for ourselves what the prospects really are. With this view wo paid a visit to the Ya%, The Oil is seen|oatingdowna creok, and as wo walked along our footsteps caused a more porceptiblo llow. The Oil is not confined to the creek alone, but some distance away it is also found; in fact the ground is perfectly saturated with it The indications of Oil are precisely similar to those found at Oil Creek, l'enn> sylvania, in 1860, when, moro than a thousand wells were bored from 500 to COO feet.deep, and in 1869 many of thj) wellsyieldedresularly.3Qo'bawls per day. Wo nientioii tliis fij shof that (t is possib|e, aud indee.l prpbable, tli'at the Waiotapufiud may be of the utmost jmportance to New Zealand. Tho pro §pectgare undoubtedly good and every* tiling is beinct done to make the venture a success, &c,, &c., ki from the Horala, Auckland, Novomber, ■. "Many persons have visited the Waiotapu Oil and Mineral Company's ground during the past week, and a good many of those who have been hitherto incredu. jogs, Mr Scott allowed them to dig for