Page 3 Advertisements Column 1

Inangahua Times, Volume II, 3 October 1881, Page 3

___ --A^^^^^^^ Mlw> _^__---___----_---»-'»»'''»"™"'* M ' I*1 '*' TO BUSHMEN. TENDERS WANTED for the EREC. TION of TWENTY»FIVE Chains of FENCING (more or less ) Full particulars on application to the undersigned. SHIELDS BROS., Storekeepers, Broadway. UNITFP ALPINE QUARTZ MINING COMPANY, LIMITED. TENDERS WANTFD for the EXTENSION of the above Company's (No. 6 LEVEL TUNNEL, 600 Feet. Specifications may be seen at tbe Company's Office, Lyell, where all tenders will be received up to 7 o'clock, p. m., ou SATURDAY, the Bth Instant. A depos : t of £10 to accompany each t.nder. The lowest or any tender not neces . snrily aooepted. JAMES INGLTS, Manager. Lyell, Ist October. 1881. — — — — ■—-__——_■-■ --------------- — ____________________W_____B__g«_--M-W__. PBOBPECTUB OF THE INANGAHUA DIAMOND DRILL AND ROOK BORING MINING COMPANY. Limited, Registered under "The Mining Com* panics' Act, 1872." CAPITAL ■_ £6000, in 24000 shares at 6s each; THREEPENCE on Application ; 3_i on Allotment, and Calls not to exceed 6d per month. NO PROMOTERS SHARES. PROVISIONAITcOMMITTEE t Mr Bowman Mr Lewis Mr Hunter Mr Lecky Mr Brennan Mr Jones Mr Potts Mr Wise Mr Lee Mr Beecbe Mr Cohen Mr M'Loughlin Mr Eraser Mr P. Butler Mr FitzGerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer MrWatsen Mr M'Kay Mr Love Mr Rait Mr Hankin Mr Murphy Bankers : Tha National Bank of New Zealand, Limited, at Reefton. Hon. Secbbtabt : Wm. Hugh Jones, Solicitor, Reefton, OBJECT OF THE COMPANY. 4 The object of tbe company is intro* 'Ruction ofthe Diamond Drill , an admitted factor to successful progress in mining, to prospect, and more speedily develop the valuable quartz reefs on the West Coast of the Middle Island, the initiation of the movement primarily centering and operating an the well-known district of Inangahua, a locality famous for its rich quartz lodes. The benefit tbat would accrue to all classes /connected with these goldfields, direotly, as well as indirectly, cannot possibly be better illustrated than by reference to the following -tatement made in the Victorian House of Assembly, in tbe month of August last, by a member in support of a motion that £10,000 be placed nn the Estimates for 1882, to purchase diamond drills, Ac. : — « The value of the work performed by one diamond drill at Stawell is best understood by the enhanced value of mining properties which its discoveries have effected. Calculations in this direction have been made with some care, and are to hand, viz.— CrOWn Cross United Company, 19 044 shares, former prioe Is 2d eaoh : present value 10s. South Cross United Company, 30,240 shares, former buyers, Is 2d j present buyers, 6s. Nos. 14, 15, and 16 South Cross, 14,400 scrip ; former buyers 4s lOd ; present buyers 14s 6d. Nos. 1 and 2 North Scotchmans, (formerly unsaleable) 8960 shares; present buyers 10s. Tbe value of tbe Extended has been increased by £22,000} Scotchmans United, £25300, as likewise the Pleasant Creek Cross Reef Company, and the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reer in the Crown Cross United Company's shaft by the aid of tbe diamond drill was about £41,164; now the total of their value is £148,400 ; the one diamond drill increasing tbe value of mining property in this instance £107,246. But this increase has only begun to grow, and it is therefore difficult to say what one or two mow discoveries will effect." With such facts and figures before tbem there should be no doubt in tbe minds of those whose interests are wrapped up and intimately linked with the success or failure of the quartz reefing industry as to the necessity of promoting tbe furtherance of the present undertaking, which under efficient and oareful management cannot fail to give important aid to the development ef the rea aourceß ofthe district, and will in addition aot as a check upon the hitherto wasteful expenditure of large sums of money in tbe construction of prospecting tunnels and shafts. As a further incentive to the promotion of thie company, it may be mentioned that the drills supplied by tbe Victorian Government . proving inadequate to the requirements of its goldfields, a company has been formed in Ballarat, with a capital of £50,000, for the purchase of diamond drills, and another com* pany for the same purpose has been projected at Sandhurst, with a capital of £25,000. It is intended to let the drill for hire to any company requiring it; to take contracts for boring, aud also to prospect any ground that may hereafter be acquired by the company. Until the success of the undertakirfg is full> demonstrated by results from the use of one drill, which it is intended to order at an early date, only a portion of the capital will be called up, and it is calculated that the revenue arising from the hiring out of the machine will yield a handsome return ia dividends, which may at the discretion of the shareholders, be appropriated to the pur* chase of additional appliances. The Inangahua district is peculiarly favorable for tbe operation of the diamond drill. A meeting of shareholders will be called af ler 16,000 shares have been applied for, to deoide upon the future course of operations: Forms of application for shares to be obi toined from the undersigned. W. H. JONES, Hon Sco _.