Page 3 Advertisements Column 6

Inangahua Times, Volume II, Issue II, 2 November 1881, Page 3

IN\SGAHUA COUNTY COUNCIL NOTICE, A T the ordinary meeting of the Irian/x gahna County Coancil, held at ilie Council Chambers, Reefton, on Tuesday, the 18fb day of Octo'er, 1881. it was resolved on the motion of Mr Brennan, and secooded hy Mr Williams, — "That a Rate of One Shilling in the Pound upon the values of the Rateable Property, as appearing in the Valuation Eoll for the time being in force in the County of Inangahun be now made, and the same is hereby made, and that such Rate be for a period of one year, commencing on the Ist day of October, 1881, and ending on the 30th day of September, 18S2, an-i that such RATE be PAYABLE in one sum on the 22nd day of OCTOBER, 1881." Notice is hereby given that the abov? Bate will be due as abore stated, and that the same mast be paid to the Rate Collector, or at the Office of the Council, ReeftOD, on or after the 22nd instant, i Dated this 19tb day of October, 1881, JOHN HAROLD, County Clerk. NOTICE. I —— — mHE UNDERSIGSKD will DE J. LIVER best FIiiE'.VOOD for CASH ONLY, at following prices :— 4-foot lengths ... 13s 6d per cord 2'foot lengths ... 19s per cord D. M'KENNA, Junr. prospectus of the Inangahua diamond drill AND ROCK BOtflFG MIiNIJNG COMPANY, Limited, Registered under "The Mining Com* panics' Act, 1872." CAPITAL :"£GOOO, 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'f oughlin Mr Fraser Mr F. Butler Mr FifzGerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Rah Mrfiankin Mr Murphy Bankers .- The National Bank of New Zealand, Limited, at Reefton. Hon. Sechetaey : Win. Hugh Jones, Solicitor, Reefton, OBJECT OP 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 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 luanpubua, a locality famous for its rich quartz lodes. Tbe benefit that would accrue to all classes connected with these goidfields, directly, as well as indirectly, cannot possibly be better illustrated than by relerence to the following statement made in the Victorian House of Assembly, in tbe month of August Ihsc b? a member in support of a motion that £10.000 be placed nn the Fstiiuates for 1882, to purchase diamond drills, &c. : — " The value o* the work performed by one diamond drill at Stawell is best, understood by the enhanced value of mining properties which i's discoveries have effected Calculations in this direction have been mnde with some care, and are to band, viz — Crown Cross United Company, 19 044 shares, former price 1* 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 buyer* 4s lOd ; present buyers 14- 6d- Nos. 1 ond 2 North Scotchm*as, (formerly unsaleable) 8963 shares ; present buyers 10s. The value of the Extended has been increased by £22,000; Scotchmane United, £25 300, as likewise the Pleasant Creek Cross Reef 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 8 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 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 effert." With such facts ard figures before them there should be no doubt in the minds of tliose whose interests are wrapped up ami intimately linked with the *ucreS9 or failure of the quartz reefing industry a* to the ueeeasity of promoting the furtherance of the present undertaking, which under efficient and careful management cannot (ml to give important aid to the development of the re« sources of 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 tuuuels and shafts. As a further incentive to the promotion of this company, it may be mentioned that the drills supplied by tbe Victorian Government proving inadequate to the requirements of its poldfields, a company has been formed in Ballarat, with a capital ol £50,000, lor the purchase of diamond drills, and another company for the sa> c purpose has been projected at feandlmist, with a capital vt £25,'.'LK>. It is intended to let t*»e drill tor lure to any company requiring it ; to take contracts lor boring, and uiso to prospect any uruunil tiuit tray hereafter be acquired by lie oomp.i-y. Until the success ol the u:i.ier»akn g is full} demonstrated by results iroiu il. c use ol one drill, which it is intended to ord,r at an early date, only a portion of the cnpitil will be called up, ; ud it is calculated. Unit the revenue arisirg from the lining oat of tiic machine will yield a handsome return in dividends, whicii iu:iy at the discretion ol I lie shareholders, be appropriated to the purchase of additional appliance*. The lijiutguhuu district is peculiarly favorable lor tlio operation of the ciiuniouii dn.l. Auie<fmj; of fimrelioldfis will be .-ulied after lO.UI'U shares have been uppUd lor, lo deckle upon tlte tutuiv coui^e ol operauon.-. Forma of application for shaiva 10 uutaiutd Jn-iu tiio v: dvriigned.