Page 3 Advertisements Column 5

Inangahua Times, Volume II, Issue II, 21 October 1881, Page 3

Squared timber v<v.i oulj yeris on wks, pout koap. TENDERS an* Invited by the luangahua Cnnnt.v CoHHcil f-'t SQUARED TIMBER for BKIDGEH and CULVERTS on the Westport Road Tenders to CLOSK on TUKSD^A", the 25th October, nt 12 o'clock n^on Specification** to h.e seen at Council Chambers. EDVVAR3 B. GARVEN, County Engineer. WIDENING TRACK '10 ANTONIO'S. TENDERS are INVITED by the luangabna Cuunty . Council lor the above work • Tendera to CLOSE on TUESDAY, tbe 25th, October, at 12 o'clock noon Plans and specifications -Q be seen at the County Chambers. ) EDWAKD B. GARVEN, Connty Engineer NOTICE. T' HE UNDERSIGNED will DE LIVER best FIWYOOD for CASH OtfLV, at following prices :— 4-foot lengths ... 13" 6 i per cord 2<«foot lengths ... 19s per cord D. !kf 'KENNA, Jnnr, PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BOBIxVG MINING uOMPANY. Limited, Registered under "Tbe Mining Coroipanies" Act, 1872." CAPITAL ".26OOO. in 24,000 shares at 5s eachTHREEPENCK on Application ; 3d on Allotment, and Calls not to" exceed 6J per month. NO PROMOTERS SHARES. PBOVISIO*NAL COMMITTEE : Mr Bowman Mr Lewis Mr Hunter Mr Lecky Mr Brennan Mr Jones Mr Potts Mr Wise Mr Lee Mr Beecbe Mr Cohen Mr M'f ougbliu MrPraser Mr P. Butler MrFitzGerald Mr Hobby Mr B.mrdman Mr Wiilker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Rah Mr Hankin Mr Murphy BIHKBBS : The National Bank of New Zealand, Limited, at Beefton. Hoif. SECHET'BY: Wm. Hugh Jones, Solicitor, Reefton, OBJECT OP THE COMPANT. 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 Taluabfe'quartz- reefs on ihe* West ■'Cdft-t'.i the Middle Island, ■■ the initiation of the movement primarily centering and operating in the well known district ot Inangahua, a locality famous for its rich quartz lodes. The' benefit that would accrue to all classes connected wiih these goldfields, directly, as well as indirectly, cannot possibly be ber ter illustrated than by reference to' th. following statement made in the Viqtcrif*n Houie of Assembly, in tbe month of August last, by a member in support of a motion thnt £10000 be placed rin the Estimates for 1882, to purchase diamond drills, _*c. t— " Tfie value o' the work performed by one diamond drill at Sta well is be.*>t understood by the enhanced valne of mining properties which its discoveries ba7e effected 'Calculations in this direction huve been made with some - care, and are to hand,, viz —Crown Cross United Company. 19 044 shares, former price 1* 2d each : present, yalue 10s. South Cro-s United Company, 30,240 shares, fornvr buyer*, Is 2d ; present buyers, ss. Nos. I_>, 15, and 16 South Cross, 14400 scrip ; former bujer--4b lOd ; presnt buyers 14* 6d. Nos.l and 2 North Scotchman*, (formerly unsaleable) 8960 shares ; present buyers 10a. The value of the Extended ha- been increased by £22,000; Scotcbmans United, £25 300, a* likewise the Pleasant Creek Cross Beef Company, and the Oriental. The cr-rnd totitl value of these stocks be'ore the discovery o' the gold-benring reef ia the Cn-wn Uross United Company b shaft by the aid of the diamond drill was about £41,164- now tbe total of their value is £148 400 ; the one diamond diill incrensins the vaiue J mining property in tbis instance £107,246. But this increase has only begun to grow, and it is therefore difficult to -ay what one or two more discoveries will effect." With such facts ard figares before tbem there should be no doubt in the minds of those whose interests are wrapped up and intimately linked with the euce.*-8 or failure of the quartz reefing industry as to the necessity of promoting the furtherance of the present undertaking, which under efficient ami careful management cannot /ail to give important aid to the development of the re» sources of tbe district, and will in addition act as a check upou. the hitherto waste'ul expenditure of large sums, of money in the construction pf . prospecting tunuels and shafts. ■ "■ ,' ' '-.•.•■" .> „ As a further incentive to the promotion o< this company,, it may he mentioned that the drills supplied by the Victorian Government proving inadequate to the requirements of ite j-oldfield*, a company has been formed in Ballarat. with a capital ol £50,000, for the purchase of diamond drills, and another company for the save purpose bas 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 aiso to projpeo. any ground that may hereafter be acquired by 'he company. Until tbe success of the undertaking is full) demonstrated by results trom the use ol one drill, which it is intended to order at an earl-%dute. only » portion of the capital will be called up, und it is calcinated thar the revenue arising irom the hiring out of the machine .will yield, a handsome return in dividends, whicli may at the discretion of the shareholders, be appropriated to the pur■•hHee of additional appliwnce**. The lnaiiguhnu district i* peculiarly favorable for the operation of the diamond drill. -V me. ting of uhHrelu'ldera will be called "fler lfj,ooo shares have been applied for, to decide upon the future course of operation**. Forniß. of application lor chares to ':>e ob* ■aii-cd. from the undersigned . W.H. JONES,