Page 3 Advertisements Column 2

Westport Times, Volume VII, Issue 1076, 30 May 1873, Page 3

PEOSPEOTUS OF THE LBION COAL COMPANY, (LIMITKU). Situated at Ngakawhau Fiver, on the West Coast of IS r e\v Zealand. To be Incorporated under the Joint Stock Companies' Act, ISUO. Capital : £OO,OOO in 0000 Shares of £lO Eacb. Deposit on Application 5s per Share, and 5s on allotment. Calls not to exceed 5s per month. PROVISIONAL DIBECTOES : J. Dransfteld, Esq. W. B. Ehodes, Esq. Walter Turnbull, Esq. John Henderson, Esq., C.E. Joseph Howard, E*q. Acton Adams, Esq. S. Thorpe, Esq., M.D. MANAGING DIUECTOR : Albert Beetham, Esq. This Company is being formed for the purpose of working that portion of the coal seams of the Mount Kochfort District, on the West Coast of New Zealand, the natural outlet of which is at the Ngakawhau Eiver, with the object of supplying to New Zealand, from her own soil, a coal at once superior in quality and lower in price than can be obtained from New South Wales. The rapid increase of population, and the unprecedented development of the resources of this country, urgently require that the increasing demand for coal should be met at once by an adequate home supply. This supply exists unequalled in quality, and to a practically unlimited extent, in the above district, the development of which should be regarded in the light of a great national undertaking. Numerous scientific and practical reports from the most competent authorities have been obtained on the quality of this coal. They concur in describing it for either steam, gas, or coke purposes superior to any coal, local or foreign, that has been hitherto in general use in this country—havin no unpleasant smell, forming a compact coke, being unusually free from clinker, and giving out comparatively little smoke. Its evaporating power is considerably higher than Grey River coal, which has up to the present been considered the best available in New Zealand ; it is likewise superior to it for gas and coke purposes. Tested against the New South Wales delivered in this | country, it possesses 25 per cent, more evaporative power, rendering it coneequently of one-fourth more value, which, in addition to saving of labor and space, is for ocean steamers a great consideration. A drive has been put into this coal seam, where it outcrops on the Ngakawhau Eiver, to a distance of 190 feet. The seam measured 1G feet in thickness ; it has now increased to 19 feet 10 inches, lying also at a considerably reduced angle, which is estimated to increased, the value ot this property — the entrance to the mine being about three-quarters of a mile up from the mouth of the river and thirty feet above high water mark. A lease of 400 acres, comprising the only readily available outlet from this district, has been obtained, and the whole of this ground is believed to contain coal. A larger area, extending into Mount Frederic, has been applied for in order that the operations of the Company may be conducted on a scale commensurate with its national importance. The coal in the district may be regarded as practically inexhaustible, a thickness of seam from 10 to 30 feet covering the country to an extent, the limits of which have as yet been but imperfectly defined. Four schemes for the working of this coal have been under consideration : 1. By a tug-boat and barges eonveythe coal from the Ngakawau to the Buller Eiver. 2. By coal tramway to the Buller. 3. By the employment of a traction engine on the hard sandy shore. 4. By the construction of a pier head and other harbor works at the Ngakawhau. Either plan may be adopted and coal delivered on board ship at about 15s per ton ; but is proposed that the question be decided by the Board of Directors, with the aid of engineering experience. At present the p.s. Eesult is supplying Westport with coal from this mine, and small craft are carrying away coal from the pit's mouth at 10s per ton- Comparatively inexpensive harbor works will render the river available for vessels drawing 10 feet of water; but it may be improved indefinitely. A reserve for a Coal Depot has been acquired on the Buller Eiver, at which it is proposed to keep 2000 tons always on band for vessels unable to enter the Ngakawhau. It is contemplated to utilize all the slack by erecting coke ovens on the ground; and an engine for drawing and lifting purposes will bo required, but for many years, probably, not for pumping. A mine possessing 'these advantages can at once secure a ready market both in this country and in Victoria; the quantityof New South Wales coal alone consumed last year in this country exceeding 100,000 tons, and a demand for Ngakawhau coal having already sprung up in Melbourne. The cost of this property to the I Company is not to-exceed £4OOO, part