Page 3 Advertisements Column 5

Inangahua Times, Volume II, Issue II, 17 October 1881, Page 3

SQUARED TIMBER FOX CULVER IS ON WES I POUT ROAD. mENDERS are Inyited by the Inan* JL gahua County Council for SQUARED TIMBER for BRIDGES and CULVEHTS on the Weslport Road Tenders to CLOStt on TUESDAY, the 18th October, at 12 o'clock qooq Specifications co be seen at Council Chambers after FRIDAY, the 13tb instant EDWARD B. GARVEN, Coanty Engineer. WIDENING TRACK TO ANTONIO'S rpEXDERS are INVITED by 'the X Inangahua County Council Jfor the above work Tenders to CLOSE on TUESDAY, the 18th October, at 12 o'clock noon Plans and specifications bo be seen at the County Chambers, after FBI" DAY, the 13th instant? EDWARD B, GARVEN, County Engineer NOTICE. ~~ i """" THE UNDERSIGNED will DE LIVER best FIREWOOD for CASH ONLY, at following prices :— 4-foot lengths ... 13s 6J per cord 2'foot lengths ... 19s per cord D. M'KENNA, Jonr. PROSPECTUS OF THE INaNGAHUA DIAMOND DRILL AND ROCZ BORING MINING COMPANY. Limited, Registered under "The Mining Com« panics' Act, 1872." CAPITAL :'£6ooo, in 24,000 shares at 5s each* THREEPENCE on Application ; 3d on Allotment, and Calls not to 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 Mr Cohen Mr M'loughlia 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 Ralf MrHankin Mr Murphy Bankers : The National Bank of New Zealand, Limited, at Reefton. Hok. Secretary : Wo. Hugh Jones, Solicitor, 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 tbe 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 Inangahua, 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. : — " Tbe value of the work performed by one diamond drill at ' Stawell is best understood by the enhanced value of mining properties which its dis- < coveries 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 : ptesent 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 14s 6d. Nob. 1 and 2 North Scotchmans, (formerly unsaleable) , 8960 shares ; present buyers 10s. The | value of tbe Extended has been increased by £22,000 ; Scotchmans' United, £25 300, as , likewise the Pleasant Creek Cross Beef Com- ' pany, and the Oriental. The grand total value of these stocks before the discovery of the gold-bearing r^ef ia 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, find it is therefore difficult to cay what one or two more discoveries will effect." With such facts aEd figures before them there should be no doubt in the minds of J those whose interests are wrapped up and k intimately linked with tbe success or failure ] of the quartz reefing industry as to the nece&eity of promoting tbe furtherance of the present undertaking, which under efficient ] and careful management cannot fail to give j important aid to the development of tbe re* ' sources of the district, and will in addition < act as a check upou tbe hitherto wasteful j 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 tbe ' drills supplied by the Victorian Government j 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 comi pany for the saTe purpose has been projected ■ | at Sandhurst, with a capital of £25,000. I It is intended to let the drill for hire to any company requiring it? to take contracts (or boring, and also to prospect any ground that j may hereaiter be acquired by <he company. Until the success of the undertaking is ( fulH 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 tbe ' revenue arising from the hiring out of tbe \ machine will yield a handsome return in ] dividends, whicti may at the discretion of the ' shareholders, be appropriated to the pur- x übaee of additional appliances. 1 The Inangahnu district is peculiarly favorable for the operation of the diamond drill. A meeting of elinreholders will be called ofier 16,000 shurcs have been applied for, to decide upon the future course of operations. i Forms of application for shares to Se obi. i tuined from the undersized. W. H. JOSE?,