Page 4 Advertisements Column 1

Wairarapa Daily Times, Volume XIII, Issue 4020, 25 January 1892, Page 4

.YVAIOTAPU OIL AND MINERAL COMPANY (LIJIITIiD), To bo Registered under the Guinpany's Act, 1882, and its Amendments, Capital JaOO.OOO (Willi power to Increase) 111 100,000 shares of £1 each, of which 50,000 fully, paid up shares will bo allotted to the vendors. The balance of 50,000 aro now offered to tho public on the following terras—viz,, 2s Gd per share on application, 2s 6d per share- on allotment, 2s Od per sharo m threo months, and 2a fid per eliarc in eix months, and tho balance in calls, or as much as may bo required, nut exceeding 2s Od per sliare, to be uiado at intervals of not less than threo months. Directors;: To bo appointed at tho First Meeting of Shareholders. Bankers ; Bank of Australasia, Napier. BROKERS ; NAPffin-BAKER&TABUTEAn. Weuinoios-LAERY & CO, Auckland-FRATERBROS. Dunedik-K.A.SOOTT. ItoTOiuu-D, GRIFFITHS, Solicitors : Napier, Hew Zealand, Sainsbury & Logan. Melbourne, Austin Baker, fcF.ciiETARV (pro fan.) F. B. Scott, Waiotapu, Rotorua. nilllS Company is formed for the X purpose of acquiring from tho owners nil benelils whatsoever and all riphts unicr certain deeds of lease from tho Crown which arc being granted by the Crown to certain of tlio Vendors, comprising in all an area of 210 acres, situated in the Waiotaou Valley, near Kotorua, Hew Zealand, and for the purpose of working Petroleum, Oil, and the various Minerals, licnniiites, Acids, Ores and Clays, which are found on the property to be comprised in such leases. Tho survey of tho lands has recently been completed under directions from the Survey Office, and tho leases will bo prepared and issued at onco. Before the Mcmonndiini and Articles of Association arc registered the leases from the Crown will bo open for inspection at tlio office of tho Company's Solicitors at Napier. The terms o( purchase ate as follows:

-Tho vendors shall rcceivo £IO,OOO in cash and shall have allotted to them 50,000 fully paid up shares in tho Company. Anagieement embodying tho ternw ofthosalo and purchase will be incorporated with and form part of the Memorandum and Articlesof Association of tho Company, Tho yendors aro—Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Boss, station mamger, Stratlmioro j F. Logan, solicit tor, Napier; W. Fawkncr, goutlemar, Napier; Francis Eornard Scott, gentleman, Waiotapu; J. C. Rankin, runholder, Strathraore; who guarantee that all monies will bo returned in the event of tho Compjny not being floated, -„ PROSPECTS, Petroleum of a very fine quality has been found in « number of places, and the ground, in many portions of tho 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 eniding and running to wasto for years hack. It is anticipated that when proper appliances aro brought to bear fur boring, will be reached at no great depth, being in the region of thermal action, tends also to favour the opinion of a great Potroleum source being situated in this lodity-ns in Russia it is found in its greatest state of purity and quantity in tho region uf activo 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 and liematitos are to be found m largo 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 valuablo pnition ot tho famous sight-seeing Waiotapu Valley, and it is situated about 20 miles from liotorua. The property is approached from Rotorua by a main line of road leading to Strathmore, Wairakei, and Taupo, and another branch line to Oalatca, 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 composed in the lease. Many valuable hot mineral baths with strong curative properties oxist 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, Now Zealand Geo, Survey Laboratory. "This is good Petroleum—its specific gravity iB 'BOI, and it yields good commercial kerosene." (Signed) J. Hector. Prom Gerhard Mueller, Esq., Commissioner Crown Lands, "I hayo been surprised beyond moasure to see tho exudations of Petroleum at so many places in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts." G.O.McAulcy, Esq., Rotorua, 19t!i November, 18P1. " I was shown <mt 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 valuablo." F.B. Scott, Esq., Auckland, November, 1891. " I have resided in the losality of the Waiotapu Petroleum Springs for the lastfeur years, and haye had every opportunity of calmly considering the probability of a reservoir existing in that locality. Throughout all this company's ground, oil i9to be got on the surface, a few feet below it, and also in the bed ol the creek, Hundreds of gallons must have been finding their way down this stream weekly. 1 consider the very fact of the ground being so much disturbed by volcanic agencies, h very favourable to the supposition of subterranean mycms existing capable of containing large reservoirs of oil, which aro often deficient in regular sandstono formation, Apart from the petroleum, the value of tins property is great ! y enhanced by tho interesting variety of hematites, acids and clays, which aro found b purmoate the whole formation, A compound which might bo termed paraffin butter is also found m quantities. This is a curious substance, and is very useful and cffectivo as an anti-friction grease. The petroleum m its crudo state makes an excellent salvo, and is largely used by tho natives lor horsosorcs, scalds, and wounds. NEWSPAPER EXTRACTS. Hot Lakes Chronicle, itotorua, 2M Oct., 1891. ' Tho importance of this find prompted U3 to take an interest in the matter by seeing for oursidves what the prospects really are. Willi this view wo paid a visit to the Valley. The Oil is seen floating down a creek, and as we walked along our footsteps caused a moro porceptiblo How. Tho Oil is not confined tj tho creek alono, but some dis- ; tanco 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, I'enn- i sylvania, in 1860, when more than a thousand wells wore boied from 500 to COO feet deep, and in 1860 many of the wells yielded regularly UOO bam Is per day, Wo mention this to show that it is possible, and indeed probable, that the Waiotapu find may bo of the utmost ( importance to New Zealand. The pro spectsare undoubtedly good and. everything is being done to make the venture a success, &c, <vc, &c. I i'rom theN.Z. Herald, Aucklaud, November. _ j "Many persons have visited the Waiotapu Oil and Mineral Company's ground ] during tho past week, and a good many ] o those who have been hitherto incredu lous. Mr Scott allowed them to.dig for themselves, the result being they came