Page 4 Advertisements Column 1

Wairarapa Daily Times, Volume XII, Issue 4012, 14 January 1892, Page 4

PROSfiSOTUS OF THE WAIOTAPtf OIL AND MINERAL COMPANY (Limited), To bo Registered under tho Company's Act, 1882, and it 3 Amendments. Capital ••• f«WX» (With power to Increase.) In 100,000 abntes o! £lcach, of whioli 50,000 fully paid up shares will be allotted to the venders. Tho balance of 50,000 are now offered to the public on the following terms—viz., 2s Gd por share on application, 2a Gd per share on allotment, 2s (id per share in throe montlm, and 2s (W per share in six months, and the bnlanco in calls, or as much as may be required, not exceeding 2s 6d per Bhare, to bo niado at intervals of not lesa than three months.

Directors : To bo appointed at the First Mooting of Shareholders. Baxkkiis : Bank of Australasia, Napier. Brokers : Napikr-BAKER&TABUTEAIT. Wmungiok-LAERY&CO. Acckiand-FRATERBROS. DuNKDIN-HA. SCOTT. Roiorba-D, GRIFFITHS, Solicitors : Napier, New Zealand, Salns'oiiry & Logan. Moltounip, Austin Baker.

Secretary (pro (cm.) F. E. Scott, Waiotipu, Rotorua. Company is formed for the purpose of acquit ing from tho owners all benetils whatsoever and all riylits unior certain deeds of lease from tho Crown which ore being granted by the Crown to certain of tho Vendors, comprising in all an area of 240 acros, situated in the Waiotuou Valloy, near Itotorua, Now Zealand, and for the purpoae of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, which are found on the property to be comprisod in such leases Tho survey of the lands has recently been cumploled under directions from the Survey Office, and tho leases will be prepared andissuod at once. Before the Mcuionndum_ and Articles of Association are registeivd the leases from tho Crown will be open for inspection at tlio office of tho Company's Solicitors at Narier. Tho terms of purchase ate as follows; -The vendors shall receive £IO,OOO in cash and shall have allotted to them 50,000 fully paid up shares in the Company. An agreement embodying the term 3 of the sale and purchase will be incorporated with and form part of tho Memorandum and Articlesof Association of tho Company. The yendors aro-Colin Ross, runholder, Melbourne; Edward Doughs, Bettler, Tauranga; Donald Boss, station maniger, Strathmore; F. Logan, solicitor, Napier; W. Fawknor, gentleman, Napier; Francis Rcrnard Scott, gentleman, Waiotapu; J.O. Kankin, runholder, Strathmore; who guarantee that all monies will bo in tho event of the Compiny not. boing floated. PROSPECTS. Petroleum of a very fino quality has beon found in a number of places, and the ground, in many portions of the Company's leaso, is fairly saturated with it; in tho creeks also it is to be seen flowing freely, clody showing that wells of this"rock Oil exist somewhere in this locality, and hayo boen eniding and running to waste for years hack. It i? anticipated that when proper app' : ir.ces 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 groat Petroleum source being situated in this locality—as in Russia it-is found in ita greatest state of purity and quantity in tlio region uf octire volcanic centres—and in Waiotapu tba oil actually undergoes a process of distillation in coming to the surfaco on account of thistherinal action and its mixing freely with Sulphuric Acid, Valuable clays and hematites aro to be found in forgo quantities, also iron ores, oxides, and many other valuable ores and pigments-all of which will find a ready market,

The area for operations consists of the most valuable pnition ot tho famous sight-seeing Waiotapu Valley, and it iB Bituatfi about 20 miles from Rotorua, The property is approached from Rotorua by a main line of road leading to Strathmove, Waivakei, and Taupo, and another branch lino to Galatea, which lattor forms the eastern boundary. It is also well watered by tho Waikokomuku, a large tali water stream, and tho flakiti« lrito, a hot water creek, which runs right through the land composed in tho lease. Many valuable hot mineral baths with strong curative properties exist on the ground, Samples of the various minerals are open for Inspection at tho offices of Messrs Laery and Co., Willis street. REMARKS FROM VARIOUS AUTHORITIES. Analysis by Dr Hector, New Zealand Geo. Survey Laboratory. " This is good Petroleum-its specific gravity is 'BO4, and it yieldßgood commercial kerosene" (Signed) J. Hectok. From Gerhard Mueller, Esq., Commissioner Crown Lands. "I haye been surprised beyond,measure to see tho exudations of Petroleum at so many places in your Valley, all of which point to a great reservoir of this Oil somowhore thereabouts," G. 0. MoAuloy, Esq., Eotorun, 19th November, 18P1, " I was shown over only a small portion of the ground, and in all places found Oil flowing freely-even jn tho bottom of tho Btream—the earth is also full of Oil. I consider tho prospect is an excellent one, Tho numerous an! varied coloured earths are also very valuable." F, B. Scott, Esq., Auckland, November, 1891. "Ihave resided in (lie locality of the Waiotapu Petroleum Springs for the lastfeur 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 be got on the surface, a few feet below it, and also in the bed ol tho creek, Hundreds of gallons must have been finding their way down this stream weekly, 1 consider tho very fact of the ground being 60 much disturbed by volcanic acencies, is very favourable to the supposition of subterranean cayems existing capable of containing large reservoirs of oil, which are often deficient in regular sandstono formation, Apart from tho petroloum, the value of this property is greatly enhanced by the interesting variety of hematites, acids and clays, which are found to purmeate tho whole formal ion. A compound which might be termed paraffin butter is also found in quantities, This is a curious substance, and iB very usoful and effective as an anti-friction grease.

Tho petroleum in its crude stato makes an excellent salve, and is largely used by tho natives tor horse sores, scalds, and wounds. NEWSPAPER EXTIUCTti. Hot Lakes Chroniclo, imtorua, 23rd Oct., 1891. "The importanco of this find prompted us to take an interest in the matter" by s»ein« for ourselves what tho prospects really m. ' With this vis* wn paid a visit to the Valloy. The Oil is aeon floating down a crcok, and as wo walked alow; 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 around is perfectly saturated with it The indications of.Oil are precisely sinii lar to those found at Oil Oreok, Fenn« sylvania, ii. 1860, when more than a thousand wells werejmied from .500 to COO feetdeep, aiid iri 1869 mfltiy of tho wells yielded .regularly 300; bawls per day. We mention this to show that ll is possible, and indeed probable, that the Waiotapu find.may be of the utmost importance Zealand. Tho pro r , ■ . y.-:.Li';ji-»,...ii «nfi mio™. specis are uiiuuuuhuij n"u« »«" »■>••,> thing is bein« done lo mako the venture a success, 1 &c, 4c, &c. From theN.Z. Herald, Auckland, No< vomher, "Many persons have visited the Waiutapu Oil and Mineral Company's ground during the past weoky and a'good mauy fo thosewho bavobeen hitherto incredulous. Mr Scott allowed them to dig for ihemselyes, the result being they cams