Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 5 October 1881, Page 3

[NKEItMAN QUARTZ MINING COMPANY, LIMITED. A CALL of TWO PENCE per share was made on the 3rd Instant by the Directors of the above named Company, PAYABLE to the Manager, ot the registered office of the Company, Broadway. Reefton, on WEDNESDAY, the 12th day of OCTOBER, 1881. GEORGE WISE, Manager. UNITFD ALPINE QUAUTZ MINING COMPANY, LIMITKD. TENDERS WANTED for the EXTFN3ION of the above Company's Specifications may . be seen at the Company's qflice, Lyell, where all tendera will be reoeived up to 7 o'clock, p. ro., on SATU-tDAY, the Sib Initont. A depos't of £10 to accompany eaoh fender. Tbe lowest or any tender not neces* earily accepted. V ' ' JAMES lNG%ra, Manager. Lyell, Ist October. 1881. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MINING OOMPANY. Limitm. Registered nnder "The Mining Com* panics* Act, 1872." CAPITAL : £6000, in 24,000 shares at 5s each* THREEPENCE on Application ; 3d on Allotment, and Calls not to exceed 61 per month. NO PROMOTERS SHARES. PROVIBIONA_TcOMMITTEE : Mr Bowman Mr Lewis Mr Hunter MrLecky Mrßrsnnan Mr Jones Mr Potts Mr Wise MrLse Mr Beeobe MrCafaen Mr M'Loughlin Mr Ma srr Mr P. Butler Mr tfifaGerald Mr Hobby Mrßoardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Eay Mr Love Mr Ralf MrHankin Mr Murphy Banxbbs : Ihe National Bank of New^ Zealand, Limited, ati Reefton. Hon. Sbcbetabt : Wm. Hugh Jones, Solioitor,! Reefton, OBJECT OF THE_COMPANY. The object of the company is introduction of the 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 lhe Middle Island, the initiation of the movement primarily centering and operating in the well-known dist rict 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 statement nude in tbe Victorian House of Assembly, in the month of August last, by a member in support of a motion rhat £10,000 be placed nn tbe Estimates for 1882, to purchase diamond drills, &c, : — " The value of the work performed by one diamond drill at Sta well is beet understood by the enhanced value of mining properties whioh its discoveries have effected. Calculations in this direction have been made with some oare, and are to hand, vis— Crown Cross United Company, 19 044* shares, former price 1" f d each; present valne 10s. South Cross United Company, 80,240 shares, former buyers, t$ 2d ; present buyers, 6s. Nos. 14, 16, and 18 Bouth Cross, 14.400 scrip ; former buyers 4s IOd ; present buyers 14s OcU Nos. 1 and 2 Nprtb Scotchmans, (formerly unsaleable) 8660 shares \ present buyers 10s. The value of the Extended hns been increased by £22,000; Scotch mans United, £25300, as likewise the Pleasant Creek Cross Reef Company, and the Oriental. The errand total value of these stocks before the discovery of the gold-bearing reef in the Crown Cross United Company's shaft by the aid of the diamond drill was about £41,164) now tbe total of their value is £148,400 ; the One diamond drill increasing the 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 more discoveries will effect." With suvh facts and figures before them there should be no doubt in the minds of tbose whose interests are wrapped up and intimately linked with the success or .failure of the quartz reefing industry, as to the necessity of promoting the furtherance of the present undertaking, which under efficient a.nd oareful management cannot fail to give important aid to the development of the res sources of the district, and will in addition ict as a check upon the hitherto wasteful sipenditure of large sums of money in the construction of prospecting tunnels and .hafts. As a further incentive to the promotion of this Company, it may be mentioned tbat the drills supplied by the Victorian Government proving inadequate to the requirements of its soldfields, a company has been formed in Ballarat, with a capital of £50,000, for the purchase of diamond drills, and another company for the same purposo has been projected at Sandhurst, with a capital of £26,000. It is intended to let tbe drill tot hire to any company requiring it i to take contracts for boring, and also to prospect any ground that may hereafter be acquired by the company. Until the snecess of the undertaking is full} demonstrated by results from the use of one d«*ill, wbich it ib intended to order at an early date, only a portion of tbe 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 in dividends, whioh may at the discretion of the shareholders, be appropriated to the pur* obase of additional appliances. The Inangahua district is peculiarly favorable for the operation of the diamond drill. A meeting of shareholders will be called afier 16,000 shares have been applied for, to deoide upon the future course of operation;*. Forms of application for shares to be ob» tamed from the undersigned. W. H. JONES, Uon Sec