Page 3 Advertisements Column 3

Inangahua Times, Volume II, 14 October 1881, Page 3

N.O T I C E . SPIZZEY, lately tradicg at Eeefton • as Brewer, under the style of MBBSE9 Pizzbt and Co., dispose! of his business to Messrs ,0. H. Ebwabds 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 Octoter next, and Mr Edwabds* receipt will be snfficient for the same. All accounts not paid by that date will be placed in the hands of a Solicitor for collection. I S, PIZZEY. i September 27ib. 1881. INANGAHUA XOT7 LEVEL TUNNEL COMPANY, LIMITED. A CALL of ONE PENNY per Share has been made by the Directors of the above-named Company, Payable to the Manager at the Registered Office of the Company, Broadway, Beefton, on WEDNESDAY, the 12th OCTTOBER, 1881. GEOBGE WISE, Manager. PBOBPECTVB OF TUB TNANG AHUA DrAMOND DBILL 1 AND BOCK BOEING MINING COMPANY, LnfrTßD, Beeistered under "The Mining Com* panies' Act, 1872." CAPITAL : ."£oOqO,;'in 24,000 shares at 5s eacht , THREEPENCE on Application ; 3d on Allotment, and Calls not to exceed 6J per month. NO PRO if OTEES SHARES. PBOVIBIONAL OOMMITTEE s Mr Bowman Mr Lewis Mr Hunter MrLecky Mrßrennan Mr Jones Mr Potts Mr Wise Mr Lee Mr Beeche MrOohdti Mr M'T-onghlin MrFraser Mr P. Butler MrFifzGerald Mr Hobby Mrßoardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mrßalf MrHanlin Mr Murphy Bawkbbs : Tbe National Bank ' of New!& Zealand, Limited,; at) Reefton. Hok. Seobbtahy : Wm. Hugh Jones, Solicitor, Reefton, OBJECT OB 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 Taxable 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 Inangahua, a locality famous for its rich quarts 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 tbe 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" purchase diamond drills, &o. :— {l 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 price Is 2d each : present value 10s. South Gross 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 14s 6d. Nos. 1 and 2 North Scotchmans, (formerly unsaleable) 8900 shares ; present buyers 10s. The value of tbe Extended has been increased by £22,000; Scotchmans United, £25300, as likewise the Pleasant Creek Cross Reef Company, aud the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reef ia the Crown Cross United Company's shaft by the aid of the diamond drill was about £41,164 ; now the 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 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 the furtherance of the present undertaking, which under efficient and Careful management cannot fail to give important aid to the development of the re» 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 com* pany for tbe 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 pro3pect any ground that may hereafter be acquired by «he company. Until, the success of the undertaking 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 in dividends, which may at the discretion of the shareholders, be appropriated to the purchase of additional appliances. The Inangahnu district is peculiarly favorable for tbe operation of the diwnond drill. A meeting of shareholders will be called after 16,000 shares have been applied for, to decide upon the future course of operations. Forms of application for shares to be ob« tamed from the undersigned. W. H. JQNES,