Page 4 Advertisements Column 5

Wairarapa Daily Times, Volume XIII, Issue 4024, 29 January 1892, Page 4

PROS PECTUS WAIOTAPU OIL AND *' MINERAL COMPANY r (Limited), To'be Restored under thq Company's ]| Act, 1882, and its Amendments. c Capital ... .... ... 4100,000 ii (With power to Increase,) In 100,000 shares' of £1 each, of 'which „ 50,000 fully paid up shares will be al- I lotted to tlie vondora. The balance of i 50,000 aro now offered to the public on J the following terms—viz,, 2s Gd per share on application, 2s 6d per share on allotment, 2a Odper sharo in three months, and 2s GrVper share in'six months, and • the balance in calls, or aB much as may be required, not exceeding 2s Od per sh«re, to be uiado at intervals of not less than three months.' Dikeoiobs: To ho appointed at tho First Meeting of Shareholders. Bankers i ] Bank of Australasia, Napier. BROKERS ' Napier-BAKER &TABUTEAIT. WsLLiNaioN-LAERY&CO, | Auckland-FRATERBROS. DumDiN-K.A.SUOrr; Rotorua-D, GRIFFITHS. Solicitors : : Napier, Hew Zealand, Sauiabury «fc Logan. Melbourne, Austin Baker. * Secretary - (pro km.) F. B. Scott, Waiotapu, Rotorua. ■ ■ . fpHIS Company is formed for the X purpose of acquiring from the 5 owners all benefits whatsoever and all i rij/lits under certain deods of loaso from ! the Crown which are being granted by the Crown to cortain of the Vendors, ■• comprising in all an area of 210 acres, situated in tho Waiotaou Valley, near • Rotorua, New Zealand, and for > the purpose of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, which are found on the The survey of the lands has recently been completed wider directions from , the Survey Office, and the leases will be prepared and itmai at once. Before the Memorandum and Articles of ; Association" ! are ■ registered', the leases from the Crown will ho open for inspection at tJie office of the Company's Solicitors at Napier. Tho terms of purchase areas follows: -The vendors shall receive £IO,OOO in cash and shall havo allotted to'them; 9 60,000 fully paid up Bhares in tho Company. An agreement embodying the terms of tho sale and purchase will be - incorporated with' audfoni part of the i Memorandum and Article'sof Association '" of tho Company. , The yendors are-Colin Ross, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Strathiaora; F. Logan, nolioitor, Napier; W. Fawknor, gentlel- mar, Napier i Fruncis fiornatd Scott, gentleman, Waiotapu; J.O, Rankin, a, runholder, Strathmore; who guarantee that all monies will be returned in , e the event of the Company not being ' floated, PROSPECTS. Petroleum of a very tine quality has been found in a numberof 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 tbiß locality, and hayo been eroding and D running to waste for years hack. It is anticipated that when proper appliances are brought to bear for boring. Oil will be reached at no great depth. Being in the rojjion of thermal action, tonda also to favour the opinion of a groat Petroleum source being situated in this locality—as in Russia it is fouud in its g greatest state of purity and quantity in tho region of active volcanic centres-; and in Waiotapu the oil actually undergoes a process of distillation in coming to the surface on account of this thermal action and its mixing freely with Bui-, phuricAcid, Valuable clays and hematitos are to be found in large quantities, also iron ores, oxides, and many other valuable ores arid pigments-all of which will find a ready market. The area for operations consists of the HI most valuable portion ot the 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 Strath-, ® more, Wairakei, and Taupo, and another branoh line to Galatea, which latter forms the eastern boundary. It is also well watered by'the Waiktikomuku, a large freshwater stream, and the Hakitikito,'a;.hot water creek, which runs right through the land composed in the lease.: .. Many valuable hot mineral baths with " a strong curative properties exist on the ' er ground. Samples of the various minerals are open for Inspection at the offices of Y' Messrs Lae'ry aud Co,, Willis street.

REMARKS FROM' VARIOUS AUTHORITIES. : Analysis by Dr Hector, New Zealand Geo, Survey Laboratory. '"" This is good Potrbleuin—its specific; gravity is 'BO4, and it yields good conW mercial kerosene" , ; (Signed) J. Hector., From Gerhard Mueller, Esq., Commissioner Crown Lands, ■ " I have been surprised beyond mea-' sure to see the exudations of Petroleum at bo many places in y'onr Valley, all of which point to a great reservoir of this' Oil somewhere thereabouts." 'G. 0. MoAuley, Esq,, Botofua, 19th : ' November, 1891. '" " I was shown Over only a small portion of the ground, and in all places found Oil flowing freelyreven.in the bottom of the stream—the. earth is 'also' full of Oil. I consider the prospect is an excellent ono, " The numerous •' and varied coloured earths are aho very valuable."' .''. . , ' ' , F. B. Scott, Esq,, Auckland, November, 1891.. '.' "Ihave resided in the locality of the Waiotapd'.Petroleum Springs for the last fc'ur years, and have'had every opportunity of calmly; considering the 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.alao iri the bed' ot the creek, Hundreds' of gallons. mustj hayobeen finding their way. ; 'down this stream weekly.'- 1 consider the very fact of tho ground being so much disturbed by yolcanio agencies,' is very favourable to tho supposition of subterranean cay-' ornG exiating capable of containing large 1 reservoirs of oil, which are often deficient in regular sandstone formation, Apart froni the petroleum',' the value oftliis property iij greatly, enhanced by the • iutere'Bting variety of hematites, acids and clays, which are found to putmeate the whole formation, A compound which might be termed paraffin butter is also found in quantities, This is a curious substance, and is vory useful and effective ai an anti-friction grease, Tho petroleum in its crude state makes an excellent salve, and. is largely ÜBed by tho natives tor horse soreß, scalds, Bnd wounds,. NEWSPAPER EXTRA.OTS, ; Hot Lakes Chronicle, ixotorua, 2Jird : Oct,, 1891. 1 The -importance of this find; prompted us to take anintorest in the matter by seeing for oursolves what the prospects really are, With this view we' paid a visit to the Valley, The Oil is walked along ourfootsteps caused a more perceptible flow. The Oil is not confined ti) the crook alone, but; some 1 , dis-. tance away it is also found; in fact the ground is perfectly, saturated.with- it. 1 The indications of Oil are.precisely Bimi■ lar to those found at Oil Greek, Penn» sylvania.iu 1860, ,wken,.more, than a thousand well's were bored from 600 to COO feet deep,'arid in 1869 many "of the wells yielded regularly 300 barrels, .per day. • Wo mention thia to' show'thati if jb possible, aud indeed probable, .that .the Waiotapufind may be"'of'the',',utm6st importance to New Zealand, ,'Thopro.' sp'eotsare arid'Werything is bein? done to make the' venture a success, &c, &o„ &o. ' ~ , . ~. From. theN.Z. Herald,' Auoklajid,'.No ; > ' vomber', 1 " '■ -'''''': ' " Many persons have Wajotapu Oil and Mineral 'Company's ground during the past week, and a good many of thoso who have been hitherto incredUr lou'si ! Mr Bo'jtt allowed'itiemto'dig'foi