Page 4 Advertisements Column 5

Wairarapa Daily Times, Volume XIII, Issue 4018, 21 January 1892, Page 4

PB'O.St JGOTUS OP THE WAIOTAPU oil and mineral company _, n (Limited), To be Registered undor tho Company's Act, 1882, and its Amendments, Ca p™ _ £IOO,OOO (With power to Increase.) shares of £leach, of which 50,000 fully paid up s l] Hes w ill be al' |H.„ 'he vendors, The balance of 50,000 ore now ollorcd to thopublio. on the following' terms—viz,, 2s Cd per share on application, 2s 6d per share on allotment, 2s Cd per share In three months, and 2s fid per share in six monthß, and the balance in calls, or as much aB may be required, not exceeding 2s 6d per share, to be rnado at intervals of not less than three months. Directors.' : To be appointed at the First Meeting of Shareholders, BakkbhS' ! Bank of Australasia, Napier, BROKBKS ; Napikr-BAKER k TA BUTE AH. Weu.ington—L4EßY & CO, Adckland-PEATER BROS, Uunbdin-B.A.SOOI'T. Rotokua-D, GRIFFITHS. Solicitous' : Napier, Hew Zealand, Salns'oury & Logan. Melbourne, Austin Baker. &EOKETARV (JOT tall.) F. B. Scott, Waiofcapu, Rotorua. rIS Company is formed for the purpose of acquiring from tho owners all benefits whatsoever and all tiplils under certaia deeds of lease from tho Crown which are being granted by the Crown to certain of the Vendors, comprising in all an area of 240 aeros, situated in tho Waiotwu Yalley, near Kotorua, Now Zealand, and for the purpoao of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, which are tound on the property to bo comprised in such leases. Tho survey of the lands has recently been. completed under directions from the.Survey Office, and tho leases will be prepared and issued at once. • Before the Meuiorindtim 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 Napier. Tho terms of purchaso aio as follows; -The vondors 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 terms of the sale and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of the Company. The yendors are-Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Boss, station manager, Strathmore; F. Logan, solicitor, Napier; W, Fnwknor, gentleman, Papier; Francis Bernard Scott, gentleman, Waiotapu; J.C. Rankin, runholder, Strathmore; who guarantee that all monies will be returned in tho event of the Company not being floated, PROSPECTS. Petroleum of a very fine quality has been found in a number of places, and the gtound, 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 showiug that wells of this rook Oil exist somewhere in this locality, and liayo heen exuding 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. Boing in tho region of thermal action,' tends also to favour the opinion of a great Petroleum source being situated in this locality—as In Russia it ,ij found in its groatest state of purity arid'quautity in the region uf active volcanic centres—and in Waiotapu the oil actually undergoes a process of distillation in coming to tho surface 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 oreß and pigments-all of which will find a ready market. The area for operations consists of the most valuable portion, of the famous Bight-Seeing Waiotapu Valley, and it is situated about 20 mites from Kotorua, The property is approached from Rotorua by a main line of road loading to Strathmore, Wairakei, and Taupo, and another branch lino 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 composed in .tho lease. Many valuable hot mineral baths with strong curative properties exist 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, New Zealand Geo. Survey Laboratory. "This is good Petroleum—its specific gravity is '864, and it yields good commercial keroseno." (Signed) J. Heotob. From Gerhard Mueller, Esq., Oommiseioner Orowii Linda, " I haye been surprised beyond mea-. suroto see th'o exudations of Petroleum at so many places in your Valley, all of which point to ft great reservoir of this Oil somewhere thereabouts." G. O. McAuley, Esq., Rotorua, 10th November, 1891. "I was shown ov9t only a small portion of ; the ground, and in all places found Oil flowing freely-even in 'the bottom of tho stream—the earth is also full of Oil. I consider the prospect is an excellent one. The numerous and varied coloured earths are also very valuable.", F. B. Scott, Esq,, Auckland, Novembor. 1891.; ; " I have resided-iri'tlie locality of the Waiotapu Petroloum Springs for tho lastfciir years, and haye had every opportunity of calmly considering tho probability of a reservoir existing in that locality. Throughout all this companyls ground, oil is to be got on the surface, a few feet below it, and also in the bed ot the creek, Hundreds of gallons must havobeen finding their way down this stream weekly. I consider the vory fact of the ground being so much disturbed by volcanio apenoies, is very favourable {o the supposition of subterranean cayems existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from the petroleum, the. valve oftliiß property is greatly enbauced by the interesting variety of hematites, acids and days, which aro. found bp purmeate the whole formation, A compound which might be termed parafßn butter is also found in quantities. ' This is a curioUß substance,' and is very useful and effective as an anti-friction grease. The petroleum in its crude state makes an excellent aalve, and is largely used by the natives tor horse sores, scalds, and wounds. NEWSPAPER EXTRACTS. Hot Lakes Chronicle, Kotorua, 23rd 0ct,,1891, ; ' Tho . importance of this find prompted.Us to take ahinterest > in • tho matter by seeing for ourselves what tho prospects really are.. With this view wo paid a visit to the Vatloy. The Oil is seen floating down a • oreok, and as we yalkod ajong our footsteps caused a more perceptible flow. ' The Oil'.'is not confinod'tothe creekalone, but some, distance. away it is also found j in fact, the ground is. perfectly saturated with it The ipdicatiori of Oil araprecisely similar to those found at OilCreeli, Pennsylvania, in 1860, when more than a thousand wells were bored from 600 to COO feet deep, and in 1869 many of the wells yielded regularly 300 barrels' per day> Wo mention this to show.' that it is possible, aud indeed probable,, that the Waiotapu find may be of the utmost importance to New Zealand. Tho pro spects are undoubtedly good and every» thing is being done to make the venture a success; &b,j &o.jiso. • -•- _ From the N.Z, Herald, Auckland, November. . , Mineral Company's ground during the past week," good many {> those who have been hitherto lous. Mr Scott allowed thepi to dig fqr themaelyes, the mult being they caws