Page 3 Advertisements Column 3

Inangahua Times, Issue II, 7 October 1881, Page 3

BB&ULT GOLD MINING COM PANY, LIMITED. a T a Meeting of Directors 'held oe **■ the 29ib September, a CALL (the 11th) of ONE PENNY per Share was raads, Fnyable at the Company's Office on WEDNESDAY, 12th Instant, 1881 G. C. BOWMAN, Manager. Reefton, September 30th, 1881. UNITFO ALPINE QUA3TZ WINING COMPANY, LIMITKD. TENDERS WANTFD for the EXTENSION of the above Company'? No. 63LEYEL TUNNEL, 500 Feet. Specifications may be seen at the Company's Office, Lyell, where all ten- , ders will be received up to 7 o'clork, p. m., on SATURDAY, the Bth Instunt. A depos t of £IOJ to accompany each I tender. " r The lowest or any ;tender..r.ot neces* sarily accepted. JAMES INGLTS, Manager. Lyell, Ist October, 1881. PBOSPECTUS OF THIS INANGAHUA DIAMOND TlfilLL AND liOCK BOEIFG MINING COMPANY. Limited, Registered under "The Mining Com» paoW Act, 1872." CAPITAL: £6000, in 24,000 shares at 5s each. THREEPENCE on Application ; 3d on Allotment, and Calls not to exceed 6J per month. NO PROMOTERS SHARES. PROVISIONAL COMMITTEE: Mr Bowman Mr Lewis Mr Hunter Mr Lecky Mr Brennan Mr Jone9 Mr Potts Mr Wise Mr Lee Mr Beeche Mr Cohen Mr M'Toughlin Mr Fraser Mr P. Butler Mr FitzGerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Ealf MrHankin Mr Murphy Backers : The National Bank of-,, New Zealand, Limited,, at] "Reefton. Hon. Seoeetaet : Wo. Hugh Jones, Solicitor, Beefton, 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 Bpeedily develop the valuable quartz reefs on the West Coast of the Middle Island, the initiation of the movement primarily centering and operating in the well-known district of Inangabua, a locality famous for its rich quartz lodes. The benefit that would accrue to all classes connected with these goldfields, directly, as well as indirectly, cannot possibly be better illustrated than by reference to the following statement made in the Victorian House of Assembly, in the month of August last, by a member in support of a motion that £10,000 be placed nn the Estimates for 1882, to pur« cbase diamond drills, &c. :— " The value of the work performed by one diamond drill at Stawell is beet 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 band, viz — Crown Cross United Company, 19 044 shares, former price Is 2d each : present value 10s. South Cross United Company, 30,240 shares, former buyers, Is 2d ; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14.400 scrip ; former buyers 4s lOd ; present buyers 149 6d. Nos. 1 and 2 North Scotchmansj (formerly unsaleable) 8960 shares ; present buyers 10s. The value of the Extended has been increased by £22,000; Scotchmans United, £25300, as likewise the Pleasant Creek Cross Beef Company, and the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reef ifl 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 th,e value of mining property in this instance £107,246. But this increase has dnly begun to grow, audit is therefore difficult to say what one or two more discoveries will effect." With such facts and figures before them there should be no doubt in the 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 careful management cannot fail to give important aid to the development of the res sources of the district, and will in addition act as a check upon the hitherto wasteful expenditure of large sums of money in the construction of prospecting tunnels and sbafta. As a further incentive to the promotion of this company, it may be mentioned that the drills supplied by the 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 company for the same purposo 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, and also to prospect any ground that may hereafter be acquired by ihe company. Until the success of the undertaking i 8 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, ond it is calculated that tb« revenue arising from the hiring out of the machine will yield a handsome return in dividends, which may at the discretion of the shareholders, be appropriated to the purchase of additional appliances. The Inangahuu district is peculiarly favorable for the operation of the diamond drill 1 ■fIITiEXP v * lwhoM «" will be called afler 16,000 ihani have been applied for, to dmde upon the future course of operation,. Porms of application for shares to be ob* tamed from the undesigned. W. H. JONES, lion See