Page 3 Advertisements Column 6

Wairarapa Daily Times, Volume XIII, Issue 4015, 18 January 1892, Page 3

pb asm tub - ' OP THE WAIOTAPU OIL AND MINERAL COMPANY (Limited), To be Registered under the Company's Act, 1882, and its Amendments. Capital ... . ... ... Ip ; (With power to Increase.) ; ' : In 100;000 shares of £1 each, of ivhich 50,000 fully paid up shares will be ol' lotted to Ihe vendors. The balance of 50,000 are'now offered to the public oil the following torms—viz,, 2s Gd per sharo on application, 2s Gd per ehare on allotment, 2s Gd per share m three mouth'B, and 2a Gri per sfaare in six 1 montliV,- and the balanco in calls,'or as inuoh as may be required, not exceeding 2i Gd per sharo, to' be mado at 'intervals of iiot less than three months. ; 'Directors: ,\ '■ ' To'be appointed at'the First Meeting of Shareholders, •. •: 'Bankkrs : Bank of Australasia, Napier. Brokers ; ; Namer—BAKEß & TABUTB iTT. . Wf.liingion-LA.ERY & 00. Acckland-FBATER'BROS. Dunedin-R.A.SCOTT, \ ROTORUA-D, GRIFFITHS, Solicitors : Napier, Dew Zoaland, Sairiabury & Logan. Melbourne, Austin Baker. Secretary (pro tern.) F. B, Scott, Waiotapu, Rotorua. Company is formed for the', purpose of acquiring from the owners all benelils whatsoever and all riplits under certain deeds of lease from the Crown which are being granted by the Crown to certain of the Yeodore, comprising in all an area of 210 aoros, situated in tho Waiotaou Valley, near Rotorua, Now Zealand, and for tho purposo of working Petroleum, Oil, and the various Minerals, Homatites, Acids, Ores and Olays, which are found on tho property to be comprised in such leases. The survey of the lands lias recently been completed under directions from the Survey Office, anil tho leases will bo prepared and issuod at once. Before the Memonndum and Articles of Association aro . registered the leases from' the Crown will be open for inspection at tlio office of the.Company's Solicitors at Nafier, ;

, The forms of purchase ato as follows ; -The vendors, shall rcceivo £IO,OOO iu cash and shall havo allotted to tliom 60,000 fully paid up shares in the Company. Au agreement ombodying the terras of tlio sale and purchase will bo incorporated with and form part of the Memorandum and Articlesof Association of the Company. The yendors are—Colin Robs, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Boss, Btation manager, Strnthmore; F. Logan, solicitor, Napier; W! Fawkncr, gentleman, Napier; Francis Bernard Scott, gentleman, Waiotapu; J. 0. Rankin, runholder, Strathmore | who guarantee that all monies will be returned in tho event of the Company not being floated. PROSPECTS. Petroleum of ft very line quality has been found in a number of places, and the 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 showing that wells of this rock Oil exist somewhere in this locality, and hayo been er.uding and running to waste for years hack. It is 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—as in Rußsia it is found in its greatest state of purity and quantity in the region of active volcanic centresand in Waiotapu tho oil actually undergoes a process of distillation in coming to the surface on account of this thermal action and its mixing freely with Sulphuric Acid, Valuable clays and hematites are to be found in largo quantities, also iron ores, oxides, and many other valuable ores and pigments—all of which will find a ready market. Tile area for operations consists of the most valuable jjnrtibn ot tho famous sight-seeing Waiotapu Valley, and it is situated about 20 miles from Rotorua, The 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 the Waikokomuku, a large fresh water stream, and the Hakitikite, a hot water creek, which runs right through the land comprised in the lease. Many valuable hot mineral baths with strong curative properties oxist on the ground. Samples of tho various minerals are open for inspection at the offices of Messrs Laery and Co., Willis street. REMARKS FROM VARIOUS AUTHORITIES. Analysis by Dr Hector, Now Zealand f Geo. Survey Laboratory. " This is good Petroleum—its specific ( gravity is '864, and it yields good com- j morcial kerosene." t (Signed) J. Heciob. From Gerhard Mueller, Esq., Commis- [ sionor Crown Landß, j " I hayo been surprised beyond measure to see the exudations of Petroleum , at so many places in your Valley,. all of j which point to a great reservoir of this ( Oil somewhere thereabouts." Gr. 0. MoAuley, Esq., Kotorua, 19t!i November, 18P1, " I was shown over only a small por- . tion of the ground, and in all places found Oil flowiug freely-oven in the bottom of tho Btream—the earth iB also full of Oil. I consider tho prospect is an excellent one. The numerous and varied coloured earths aro also very valuable," F. B. Scott, Esq., Auckland, November, 1891, " I have resided in the locality of the Waiotapu Petroleum Springs for the lastfeur years, and liaye had every opportunity of calmly considering tho probability of a reservoir existing in that locality. Throughout all this com pany's ground, oil is to be got on the surface, a j few feet below it, and also in the bed ot tho crock, Hundreds of gallons must have boen finding their way down this stream weekly." 1 consider the very fact of the ground being so much disturbed by yolcanic apencics, is very favourable to tho supposition of subterranean payera's existing capable of containing large' reservoirs of oil, which are ofton deficient , in regular sandßtono formation, Apart from the petroleum, tho value 1 of this property is greatly enhanced by tho interesting variety of hematites, ' acids and days, which are found to purmeato tho wliolo formation. A compound which might bo termed paraffin butter is also found m quantities,' This is a curious substance, and is very useful and effective as an anti-friction grease. Tho petroleum in its crude stato makes an excellent salvo, and is largely used by the natives tor horse sores, scalds, and wounds. ' NEWSPAPER EXTRACTS. Hot Lakes Chronicle, Kotorua, 23rd Oct., 1891. ' Tho importanco of this find prompted us to take an interest in the i matter by seeing for ourselves what tho prospects really are. With this view wo paid a visit to the Valley. The Oil is seon floating down a creok, and as we walked along our footsteps earned a more perceptible flow. The Oil is not con- ' fined ; to the creek alone, but some dis- :. tan'ce'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, Pennsylvania, iu 1860,' when more than a thousand wells were bored from 800 to COO feet'deep, and in'lß69 many of' the wells yielded regularly 300 barrels por day. We mention this to show that it is possible, and indeed probable, that the Waiotapu find may be of the utmost importance to New Zealand, Tho pro ' spects are undoubtedly good and everyj thing is being done to make tho venture r a success, &c,, &0,, &o. From the N,Z, Herald, Auckland, No- • vomber. ■ "Many persons have visited the Waiotapu Oil and Mineral Company's ground . during the past week, and .a good many fo those who havo been hitherto incredulous. Mr Scott allowed them to dig fpr themselves, the result being they carno