Page 4 Advertisements Column 6

Wairarapa Daily Times, Volume XIII, Issue 4032, 8 February 1892, Page 4

PROSPECTUS WAIOTAPU OIL AND MINERAL COMPANY , (Limited), Co be Registered under the Company's Act, 1882, andita Amendments. Capital 45100,000 (With power to Increase.) In 100,000 shares'of £leach, of which >O,OOO fully paid up shares will bo alotted to the vendors, The balance 'of 50,000 are now offered to the publio on ;ho following term'B-viz„ 2s Gd per share ra application, 2s ed per share on allotnent, 2s Gd per share in three months, ind 23 Od per share in six Months, and ;he balance in calls, or as muoh as ..may ae required, hot exceeding 2s 6d per share, to be made at intervals of not to' :han three months. Directors: ro he appointed at the First Mooting of Shareholders, ' , Bahkbus i Bank of Australasia, Napier. Naher-B AKER & TABUTEATJ. Wkujngton-lAERY&OO. Atokland-FRATERBROS, Dunkdin-R.A.SOOTT. Roiorua-D. GRIFFITHS. Soiiciiobs ; Napier, Hew Zealand, Salnsbury & Logan, Melbourne, Austin Baker. Seobetaey (pro Urn.) F.'B. Scott, Waiotapu, Rotorua. rpHIS Company is formed for the X purpose of acquiring from the owners, all benefits whatsoever and all rights under certain deeds of lease from the Grown which are being granted by the Crown to certain of the Vendors, comprising in all an area of 240 acres, situated in the Waiotaou Valley, 'near Kotorua, New Zealand, and tor. the purpose of working Petroleum, Oil, and the various Minerals, Hematites, Acids, Ores and Olays, which are found on the property to be comprised in suoh loasos, The survey of the lands has recently been completed under,directions from the Survey Office, and the.leaies'wiil be prepared and issued at once. Before the Memorandum and Articles of Association are : registered the leases from the Crown will be open for inspection at the office of the Company's Solicitors at Nafior. The terms of purchase areas follows; -The vendors shall receive £IO,OOO in cash and shall have allotted to them pany. An agreement ombodying the terras of the salo andpurohase will be incorporated with and form part of the Memorandum and Articlesof Association of tho Company, The yendors are—Colin Robs, runholder, Melbourne | Edward Douglas, settler, Tauranga; : Donald Ross, station manager, Strathmore j F. Logan, solicitor, Napier; W, Fawkner, gontlemar, Napier; Francis Bernard Scott, gentleman, Waiotapu; J. O, Rankin, runholder, Strathmore; who guarantee that all monies will bo returned in the event of the Company riot being floated, PROSPECTS, Petroleum of a very fino 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 haye been er.uding and running to waßto for years back. It is anticipated that v. hen proper appliances are brought to bear for boring, Oil will be roaohed at no great depth. Being in the rogion of thermal action, tends also to favour the opinion of a groat Petroleum source being situated in this looalityr-aB In Russia it is found in its greatest state of purity and quantity in the region of activo 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 Sulphuric Acid, Valuable clays and hematitos are to be found m large 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 portion ot the famous sight-seeing Waiotapu Galley, 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, and Taupo, and another branoh line to Galatea, which latter forms the eastern boundary. It is also well watered by the Waikokomuku, a large fresh water stream, and the Hakitikito, a hot water creek, which runs right through the land composed in tlie'lease. Many valuable hot mineral baths with strong curative 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' Heotor, New Zealand Geo.!Survey Laboratory. " This is good Petroleum—its speciiin gravity is -864, and it yields good commercial kerosene," (Signed) J, Heotor. | From Gerhard Mueller, Esq,, Commissioner Crown Lands, "Ihaye been Burpriaed beyond measure to se» the exudations of Petroleum at bo many places in your Valley, all of 1 which point to a great reservoir of this Oil Bomewhere thereabouts," 6.0, MoAuley, Esq., Rotorua, 19th November, 1891, " I was shown ovm only a small portion of the ground, and in all places found Oil flowing freely-oven in the bottom of the stream—the oartb is also full of Oil, I consider the prospect is an excellont one, The numerous and varied coloured earths are also very valuable:" F, B. Scott, Esq,, Auckland, November, 1891. " I have resided in the locality ot the Waiotapu Petroleum Sprint's for the last fcur years, and haye had every, opportunity of calmly considering tho probability of a reservoir exieting in that locality. Throughout all this company's ground, oil js to be got on the surface, a few feet below it, and also in the bed ot 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 muoh. disturbed by volcanic acencios, is very favourable to the supposition of subterranean cayems existing capable of containing largo reservoirs of oil, which are often deficient in regular sandstone formation. Apart from the petroleum, tho value of this property is greatly enhanced by the interesting variety: of hematites, acids and days, whioh are found to purmcate the .whole formation, A compound whioh might bo termed, paraffin butter is also found in quantities, This is a curious substance, aud is very useful and effective as an antMrietion grease, The petroleum In its crude state makes anexcellenta'alvo, and'is' largely used by the natives for horse sores, ecalds, and wounds, NEWSPAPER EXTR4OT3. Hot Lakes Ohronicle,ltotorua, 2i)rd Oct., 1891. ■,. 'Tho importance of .this find prompted us to take an interest in the matter by seoing for ourselves what the prospects really are,' With 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 more perceptible flow. The Oil is.npt confined to the creek alone, but some distance away it is also found) in fact the ground : is perfectly, saturated, with it. The indications, of Oil are precisely simi. Jar to those found at Oil Creek,. Ponn* sylvania.iu 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 thatit is possible, and indeed probable, that the Waiotapu find may be of the utmost importance to New Zealand, Tho pro spectsare undoubtedly good and everyi thing is being done to make the venture a 1 success, &a„ &0., &o. . From Herald, Auokland.'No' , .: ■;■ yember.'-/. "Many persons have visited the Waiotapu Oil and Mineral Company's ground during the past week, and a gooi many dfrthose who have been hitherto incredulous,' Mr Scott allowed themto digfor