Page 4 Advertisements Column 1

Cromwell Argus, Volume III, Issue 116, 30 January 1872, Page 4

PROSPECTUS OF THE CARRICK RAME WATER SUPPLY COMPANY, REGISTERED. CAPITAL ■ £12,000, IN SHARES OF £1 EACH. intektm directors : James Cowan, Esq. Ignatius Loughnan, Esq;, J.P. James Hazlett, Esq., J.P. James P. Taylor, Esq., J.P. James Stuart, Esq. G. W. Goodger, Esq. James Marshall, Esq. treasurer : James P. Taylor, Esq., J.P. solicitor : A. W. Allanby, Esq. SECRETARY : Mr H. W. Smythies. BANKERS : Bank of New South Wales. 11. W. Smythies, Esq. riIHE Company is formed for the purX pose of supplying to the large Mining District of Carrick Range and Bannockburn a quantity of Water sufficient to, in some measure, enable the well-known auriferous resources • of that district to be deveioped. By the proposed scheme, the necessity for further Steam machinery for Quartz-crushing purposes will be dispensed with ; and by the substitution vi Water-power, a saving of 50 per cent will be effected, besides stimulating the erection of ad ditional Quartz-crushing Mills. By a judicious ' distribution of the supply, the Water can be ' made available many times, as the altitude at ' which it will be delivered on the Range (being , within two hundred feet of the summit) will en- ■ able the Company to dispose of its use at various levels until its final debouch iuto the Kawarau River. The proposed Race will command at least thirty square mile 3 of well-proved, highly auriferous ground on the Carrick Range, which nothing but the absence of water has hitherto prevented from being profitably worked. Mr Haugiiton, in his Report on the Water Schemes to be initiated by Government aid, referred in highly eulogistic terms to the desirability of this scheme, I and to its undoubted success. There are at present three Steam Quartz-crushing Machines on i the Range, and these are stopped frequently through want of water, and are subject to a heavy outlay for procuring coal. These difficulties will be effectually overcome by the success- \ ful carrying out of the proposed scheme. The undoubted payable character of the undertaking has induced many private parties to propose a similar scheme, but the cost has invariably prevented its furtherance ; and it has been acknowledged that, to ensure a successful issue, the undertaking should be placed in the position of a substantial Compauy. The line of Race has been marked out, and the necessary levels have been taken, by our Surveyor (Mr Smythies), with the view of ascertaining the practicability of the scheme ; and it has bean estimated by him that about £7OOO will be required to construct the Main Race, of which a portion will have to be flamed. The Compauy, recognising the necessity of having a capital to command any contingencies, and with a view of compensating the Promoters, nineteen in number, (som3 of whom have relinquished largo private rights in favour of the Company,) have made the Capital £12,000 ; and the Promoters have agreed to accept £IO3O in paid-up shares, as compensation for their rights and expenses in the matter, —thus leaving £10,930 available for the prosecution of the works. The Company propose bringing in Sixteen Heads of Water, and the disposal of that quantity at current rates will secure to the Company large and permanent dividends. It i 3 also intended to obtain such Subsidy from the Government as may be granted, should the terms be suitable. So soon as a sufficient number of Shares have been applied for to insure the existence of the Company, a general meeting of Shareholders will be calle 1 for the election of permanent officers, and to take steps to register the Company. It has boon settled by the Promoters that 1/]>f.r share be paid on application ; that 2,6 be paid on allotment; and that no calls be made at Ijss intervals than one calendar month, and shal lit >t exceed 2/6 each call. FORM OF APPLICATION FOR SHARES. To the Secretary of the Carrick Range. Wale: Supp'y Company, Registered, Cromwell. Sir,—l hereby make application for... Sh'tres in your Company, or any less number lha niiy be allotted to m": and I enclose being deposit of one shilling per share on the abov number, subject to the terms recited in the Pn,