Page 3 Advertisements Column 3

Wairarapa Daily Times, Volume XIII, Issue 4026, 3 February 1892, Page 3

PROS PEO T US OV THE ' . WAIOTAPU oil and MINERAL COMPANY (Limited), ' Tote Registered under tho Company's Act, 1882, find its Apndmonta,' Capital £IOO,OOO '' (With power to Inoreaae.) In 100,000 shares of £1 each, of which 80,000 fully paid up shares will be allotted to the vendors, The balance of 50,000 are now offered to the publio on the following terms-viz,, 2a Gd por aharo on application, 2s fid pec Bhare on allotment, 2s Gd per share in threo months, and 2s (!rf per share in six months, ,and the balance in calls; or as ranch as'. may be required, not exceeding 2s 6d per share, to be mado at intervals of not less than three months. Directors! To he appointed at the First Meeting of —Shareholders, Bankbbs i Bank of Australasia, Napier, ' Brokers ; Napier—BAKEß & T A BUTE AIT, W'klusoios—L4EßY & CO. , Auckland-FBA.TEII BROS, L'unedix—E.A.suorr, ROTORUA-D. GRIFFITHS. Sottwors : Napier, New Zealand, Samsbury & Lug,%u. Melbourne, Austin Baker, Secretarv (pro (em.) F. 33. Scott, Waiotapu, Hotorua. mfflS Company iB forihed for the 1 purpose of acquiring from the owners all benefits whatsoever and all riplits under cortain deeds of loase from the Crown which are being granted by the Crown to cortain of the Vendors, comprising in all an area of 240 aeros, situated in the Waiotunu Valley, near Kotorua, New Zealand, and for the purpose of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Clays, which are lound on tho property to be comprised in such leases • The survey of tho lands has recently been completed under directions from the Snrvey Office, and the leases will be prepared and issued at once. ■. Before the Memorandum and Articles of Assooistion 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 purchase are as follows: -The vendors shall receive £lo,ooo in cash and shall havo allotted to them 60,000 fully paid up shares m tho Company. An agreement embodying the terms of the sale and purchase will be incorporated with audform partofthe Memorandum and Articlesof Association of the Company. Tho' yendors are—Colin Robs, runholder, Melbourne; Edward Douglas, settler, Tauranga; Donald Ross, station manager, Srrathmore; F. Logan,'solicitor, Napier j VV, Fawkner, geutleman, Napier; Francis Bornard Scott, gentleman, Waiotapu; J.O, Hankin, runholder, Strathraore; who guarantee that all monies will be returned in the event of the Company not being floated, : PROSPECTS. Petroleum of a very fine 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 tho creeks also it is to be seen flowing freely, clearly showing that wells of this rock Oil exist somewhere in this locality, and haye been exuding and running to waste'for years hack. It i» anticipated that when proper appliances are brought to bear for boring. Oil will bo reached at no great depth. Being in the region of thermal action, tonds also to favour the opinion of a great Petroleum source being situated in this locality—as in Russia it is found in its greatest Btate of purity, and quantity in the region of active volcanic centres—and in Waiotapu the oil actually undergoes a process of distillation in comiug to the surface on account of this thermal action and its mixing freely with Sulphuric Acid, Valuable clays and hematitos are to be found in large quantities, also iron ores, oxides, and many other valuable ores and pigments-all of which wili find a ready market. The area for operations comists of the most valuable portion ot the famous sight-seeing Waiotapu Valley, and it is situated about 20 miles from Eotorua, The property is approached from Eotorua

by a main line of toad leading to Strathmore, Wairakei, and Taupo, and another branch line to Galatea, which latter forms the oaatem boundary. It is also well watered by the Waikokomuku, a large fresh water atream, and the Hak\tikito, a hot water creek, which runs right through the land comp'isod in the lease. Many valuable hot mineral baths with strong ourative properties exist on the ground. Samples of the 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 Goo. Survey Laboratory. "This is good Petroleum—its specific gravity is *864, and it yields good, commercial kerosene," (Signed) J. Hector. Prom Gerhard Mueller, Esq., Commissioner Crown lands, "I haye been surprised beyond measure to see the exudations.of Petroleum at so many plaoes in your Valley, all of which point to a great reservoir of this Oil somewhere thereabouts," G. 0, MoAuley, Esq., Rotorua, 19th November, 18P1, " I was shown over only a small portion of the ground, and in all places found Oil flowing freely-even in the bottom of the 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, Novomber, 1891. ■ "Ihave resided in the locality of the Waiotapu Petroleum Springs for the last fcur years, and haye had every opportunity of calmly .consldoring 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 also in the bed ol the orcek, Hundreds of gallons must have boen finding their way down this stream weekly. ,'l,consider the very fact of the ground being so much disturbed by volcanic apencies, js very favourable to the supposition of subterranean rayorns existing capable of containing large reservoirs of oil, which are often deficient in regular sandstone formation, Apart from the petroleum, the value of this propertyis greatly enhanced by the interesting variety of hematites, acids and clays,. which are found to purmeate the whole formation, A compound which might be termed paraffin butter is also found m quantities. This is a curious substance, an(l is very useful and effective ai an anti-friction grease, The petroleum m its crude slate makes an excellent salve, and is largely usod by the natives tor horse sores, scaldß, and wounds. NEWSPAPER EXTEiOTIi. Hot Lakes Chronicle, ltotorua, 23rd Oct., 1891; . ' The importance of this find prompted us to tako an interest in the matter by seeing for ourselves what the prospects really are. With this view we paid a visit to the Valley, The Oil is seen floating down a creek, and as we walked along our footsteps caused a more perceptible'flow. Tho Oil is not confined fc> the creok alone, but some distance away it is also found j in fact the ground is perfectly saturated with it. The indications of Oil are precisely simi lar to those found at Oil Creek, Pennsylvania, iu 1860, when more than a thousand wells were bored from 60Q to COO ifeet deep, piidinlß69 many of the wells yielded reeularly 300 batrels per clay, We mention this to show thai it is possible, and ind'ee.l probable, that the Waiotapu find may be of the u^ mo at Importance to NewZealanc}.' Tho pro spects ar'e undoubtedly good anil everytiungis being done to make the' venture A success, &0,, '#o,, 4c.. the t),Z, Herald,, Auckland, Nq< ' ' " ■ ■ '■Ulany have visited the Waio(apij Oji aos liiieral Oompgoy'a gtoutu] fltpig tho past )vpek, and s, gooi} many oj those wBo have been hitherto Incredulous. Mr Scott allowed thorn to dig for