Page 3 Advertisements Column 6

Inangahua Times, Volume II, Issue II, 31 October 1881, Page 3

INANGAHUA COUNTY COUNCIL NOTICE. AT tbe ordinary meeting of the loan* gahna Count? Conncil, held at the Council Chambers, Reefton, on Tuesday, the 18ih day of Octo er, 1881. it was resolved on the motion of Air .Brennan, and seconded (7 Mr Williams.-— "Tint a Rate of One Shilling in the Poiind upon the values of the Rateable Propeitv. as appearing in the Valuation fJoll for the time being in force in the County ol Inangahua be now made, and the same is hereby made, and that such Rate be for a period of one ye?r commencing on the Ist day of October, 1881, and ending on the 30th day of September, 18S2, and thai such KATE be PAYABLE in one sum on the 22nd day of OCTOBER, 1881." Notice is hereby given that the abor? Rate will be due as above stated, and that the same must be paid to the Kate Co!« lector, or at tbe OiHce of tbe Council, Reefton, on or after the 22nd instant. Dated this 19th day of October. 1881, JOHN HAROLD, County Clerk. NOTICE. mUE UNDERSIGXri'D will DE J- LIVER besfc FIREWOOD for CASH ONLY, at following prices :~- 4-foot lengths ... 13-? 6d per cord 2^foot lengths ... 19s per cord D. M'KKNNA. Junr. PROSPECTUS OF THE Inangahua diamond drill AND KOCK BORING AIIiXING uOMPAiNY. Limited. Registered under " The Mining Conn* panics' Act, 1872." CAPITAL : £6000, in 24,000 shares at 5s each* THREEPENCE on Application ; 31 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 Jones Mr Potts Mr Wise Mr Lee Mr Beeche Mr Cohen Mr M'J oughlin Mr Fraser Mr P. Butler MrFitzGerald Mr Hobby Mr Boardman Mr Wulkcr Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Rait MrHankin Mr Murphy Bankers : The National Bank of New Zealand, Limited, at Reefton. Hotf. Secuetaby : Wm. Hugh Jones, Solicitor, Reefton, j OBJECT OF THE COMPANY. | The object of the company is intro- | duction of the Diamond Drill ,an admitted factor to successful progress in mining, to prospect, and more speedily develop the valuable quartz reefs on tbe West Coast of the Middle Island, the initiation of the movement primarily centering and operating in the well known district of Inanjjubua, a locality famous for its rich quartz lodes. The benefit that would accrue to all classes connected with these goidfield?, directly, as well 89 indirectly, cannot possibly be better illustrated than by reference to the following statement made in tho~ Victorian House of Assembly, in the month of August lust, by a member in support of a motion rh;<t £10.000 be placed nn the Fstiumtes 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 hand, viz. — Crown Crocs United Company, 19 044 share?, former price 1* 2d each : present value 10s. South Cro?s United Company, 30.240 shares, former buyers, 19 2d ; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14,400 scrip ; former buyers 4s lOd ; present buyers 14- 6d. Nos. 1 and 2 Nortli Scotchman?, (formerly unsaleable) 896p shares ; present '^buyers 10s. The value of the Extended ha* been increased by £22,000; Scotcbmans United, £25300, as likewise the Pleasant Creek Cross Reef Company, and the Oriental. The pind total value of these stocks before the discovery of the gold-bearing reel' in the Crown l'ro.<s United Ootp^hts 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, and it is therefore difficult to say what one or two morr discoveries will effei t." With such facts ard figares before them there should be no doubt in the minds of ti'ose whose interests ate wrapped up nnd intimately linked with the success or failure of the quartz reefing indusfrv 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 ren sources ot the district, and will in addition act as a check upou the hitherto waste ul expenditure of large sums of money in the construction of prospecting tuuuela and ehnits. As a turther incentive to the promotion of this compuny, it may be lnentiru.ed that t!i«» drills supplied by the Victorian Government proving inadequate to tbe requirements of its noldfield?, o company has been 'onned in Bullarat, with a capital of £50.000, lor the purclisse of diamond drill?, and another company for tbe sa-re purpose has boon projected at Sandhurst, with a capital of £25,000. It is intended to let tbe drill lor tiire to any company requiring it ; to take contracts lor boring, and also to |>n>«pect any ground that may hertulter be acquired hy 'he compuny. Until the success of the undertaking is full) demonstrated by results ivoni the u?e ot one dnll, which it is intended to order at nn early ri;ite. oi.ly a portion of the vupitil will be culled up, ncl it is i\ilcjUti-(.l that the rcvenuu i.risir.-; from the hiriijg ow. ( >i tm: machine will \ic!d a liu-nlso'iu; return in | dividends, whicu ui;iy :it the discretion ol' the I shareholder?, be appropriated to tho pur- j i-hii^e of additional api'liaiiccs. j Thelnanguhua district is peculiar v fr,v»r- > able for tin? onera'n.-n vt the diamond d;il. | Ames ting ot sh^ivholders will h-j eiiiuM 1 afler Ui.OUU shun-* have been api-liix! far, tc decide upon the iuturd course of operation ■=. Fern s of application ii.r shares 10 bi- ol>« 1 taiucd trom thy} u'.'ciercig-u-d, | w. if. , !