Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 12 October 1881, Page 3

RESULT GOLD MINING COMPANY, LIMITED. 4 T a Meeting of Directors '.held on f*- tbe29.h September, a CALL (the lltl.) of ONE PENNY per Share was mad 3, Pnyable at the Company's Office, ou WEDNESDAY, 12th Instant, 1881. G. C. BOWMAN, Manager. Keefton, September 30th, 1881. ~ NOTICE. S PIZZEY, lately trading at Eeefton • as Brewer, under the style of Messrs Pizzby and Co., disposed of bis business to Messrs O. H. Edwaeds and Co., on the Ist day of March last. Mr 8. Pizzey deputed Mr C. H. Ed» wards to receive all accounts. Parties still indebted to S. Pizzey are requested to settle with Mr C. H. Edwards before the 18th October next, and Mr Edwabds' receipt will be sufficient for the same. All accounts not paid by that date wiU be placed in the hands of a Solicitor for collection. S. PIZZEY. September -37th. 1881. PROSPECTUS OF THE INANGAHUA DTAMOND DRILL AND KOCK BOEING MINING COMPANY. Limited, Registered under "The Mining Corns) panics' Act, 1872." CAPITAL :' £6000, in 24,000 shares at 5s each* THREEPENCE on Application ; 3d on Allotment, and Calls noUo exceed 6d per month. NO PROMOTERS SHARES. PROVISIONAL COMMITTEE : Mr Bowman Mr Lewis Mr Hunter Mr Lecky Mr Brennan Mr Jones Mr Potts Mr Wise Mr Lee Mr Beeche MrCoben Mr M'T-oughlin Mr Fraser Mr P. Butler Mr FitzGerald Mr Fobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Rait MrHarikin Mr Murphy Bankebß : The National Bank of "New§| Zealand, Limited,;; at| Keefton. Hon. Seoretaey: Wm. Hugh Jones, Solicitor, Eeefton, OBJECT OF THE COMPANY. The object of tbe company is introduction of the Diamond Drill ,an admitted factor to successful progress in mining, to prospect, and more speedily develop the valuable quartz reefa on tbe Weefc Coast of the Middle Island, the initiation of the movement primarily centering and operating in the well -known district of Inangahua, a locality famous for its ricb quartz lodes. . Tbe 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 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, &c. : — " 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 band, viz — Crown Cross United Company, 19044 share?, former price Is 2d each : present value 10s. South Cross United Company, 30,240 sbarGS, former buyers, Is 2d ; present buyers, ss. 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 10b. The value of the Extended has been increased by £22,000; Scotchmans United, £25300, as likewise the Pleasant Creek Cross Eeef Company, and the Oriental. The grand 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 waa about £41,164; now tbe total of their value is £148,400 ; tbe 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 more discoveries will effect." With such facts and figures before them 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 tbe necessity of promoting the 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 shafts. 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 purpose has been projected at Sandhurst, with a capital of £25,000. It is intended to let the drill for hire faPWy^ company requiring it; to take pontraots for boring, and also to prospect any ground that may hereafter be acquired by the company. Until the success of the undertaking is full} demonstrated by results from the use of one d»"ill, 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 tbe hiring out of the machine will yield a handsome return in dividends, which may at the discretion of tbe shareholders, be appropriated to tbe pur« chase of additional appliances. The Inangahna district is peculiarly favorable for the operation of the diamond drill. A meeting of shareholders will be called afler 16,000 shares have been applied for, to decide upon the future course of operation?. Forms of application for shares to be obn tamed from the undersigned, W. H. JONES,