Page 3 Advertisements Column 6

Inangahua Times, Volume II, Issue II, 7 November 1881, Page 3

INANGAHUA COUNTY COUNCIL NoflCE, A T the ordinary meeting of the Inanl\. gahua County Council, held at the Council Chambers, Reefton, on Tuesday, the 18th day of Octo* er, 1881. it was resohed on the motion of Mr Brenoan, and seconded by Mr William*.— "That a Rate of One Shilling in the Pound upon the values of the Rateable Property, ss appearing in the Valuation Roll for the time being in force in the County of \ Inangahua be now made, and the same is hereby made, and that *uch Kate be for a period of one ye»r. commencing on the Ist day of October, 1881, and ending on the 30th day of September, 1882, and that such RATE be PAYABLE in one snra on the 22ad day of OCTOBER, 1881." Notice is hereby given that tb^abov? Rate will be due as above stated, and that the same must bo paid to the Rate OoN lector, or at the Office of the Council, Reefton, on or after the 22nd instant. . Dated this 19ih day of October, 1881, JOHN HAROLD, County Clerk. N O T I CX. I — — ImHE UNDERSIGNED will DE J- LIVKR best FIREWOOD for CASH ONLY, at following prices :— 4-foot lengths ... 13* 6J per cord 2%f00t lengths ... 19a per cord D. MKKNNA, Junr. prospectus of the Inang^hua diamond drill and kock boring mining UOMPANY, Limited, Registered under "The Mining Com* paoies' Act, 1872." CAPITAL :'£6ooo, in 24,000 shares at 5s each* THREEPENCE on Application; 3d on Allotment, and Calls not to exceed 64 per mouth. NO PROMOTERS SHARES. PROVISIONAL COMMITTEE : Mr Bowman Mr Lewis Mr Hunter Mr Lecky Mr Brennan Mr Jones Mr Potts Mr Wise Mr Lee Mr Beeohe Mr Cohen Mr Ml oughlin Mr Fraser Mr P. Butler Mr FitzGerald Mr Hobby Mr Boardman Mr Wulker Mr J. Gallagher Mr Archer Mr Watson Mr M'Eay Mr Love Mr Rait MrHankin Mr Murphy Sabxehb : The National Bank of New Zealand, Limited, at Reefton. Hon. Sbcbetaey : Wm. Hugh Jones, Solioitor, Reefton, OBJECT OF THE COMPAITY. 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 ot Inangabua, s locality famous for its rich quarrz lodes. The benefit that would accrue to ail classes connected with these goldfiekls, 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 oi August last, by a member in support of a motion th;it £10.000 be placed nn the Fstimates for 1882, to purchase diamond drills, &c :—" The value of the work performed by one diamond drill at Stawell is be?t understood by the enhanced value of mining properties which its discoveries have effected. Calculations in this direction huve been made with 6ome care, and are to band, viz —Crown Cross United Company, 19044 shares, former price Is 2d each : present value 10s. South Cross United Company, 30,240 sharcß, former buyers, Is 2d ; present buyers, ss. Nos. 14, 15, and 16 South Croßs, 14.400 scrip ; former buyers 4s lOd ; pres-nt buyers 14- 6d. Nos. 1 and 2 North Scotchman*, (formerly unsaleable) 8960 shares ; present buyers 10s. The value of the Extended has been increased by £22,000; Scotchtnans United, £25 300, as likewise the Pleasant Creek Cross Reet Company, and the Oriental. The grand total value of these stocks before the discovery of the gold«bearing reef ia the Crown L : ro?B United Company s shaft by the air! 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 pay what one or two more discoveries will effe. t." With such facts ard figures before them there should be no doubt in the minds of those whose interests are wrapped up and intimately linked with the sucress or failure of the quartz reeflug industry as to the neCPisity of promoting the furlherance of the present undertaking, which under efficient and careful management cannot fail to give important &>d to the devtlopment of the re» sources of the district, and will iv addition act as a check upon the hitherto waste ul expenditure of large »vms of money iv the construction of prospecting tuuneis and sbatts. As a further incentive to the promotion r»f this company, it may be mentioned thut tho drills supplied by the Victorhn Goverument proving madequiite to the requirements of it« uoldtieid.', a company has been lormed in Bullarut. with a capital of £50,000, for (he purchase of diamond drills, and another com-, pany for t tie sure purpose has been projected at hamiburst, with a capital of £25,000. It if intended to let the drill lor hire to any company requiring it ; to take contracts lor boring, and uibo to prospect ttur ground tlist v.ay herealter be acquired by he company. 1 Until the 6ucce»B of the undertaking is 1 full} demonstrated by results irom the use oi one '.Mil, which it te intt-nded to ord.T at tin early flute, only a portion of the tupit:»l will be called up, .aid it v tvilouidted lhal the j revenue arising I rum the lining out of the i machine will .i 'eld n handsome return in j dividends, whicu m»y at the discretion of the > 1 shareholders, be appropriated to tho purchase of juidiuomii appliances. 1 Tho Iti.'UJgaliiiH district i* |}iM-u!iar<y favor- ! able for tlie operation of the duiuoud di-sil. i mci ting of etinrelioldors vail ba calu-ti ' after Ib.OLU slmris have b^eii aiylnd i<>r, to decide upon Die luture eour.-'ii ot operation '. Kornitf of application lur shares 10 jts obluiind itjiu the v avrsijrued. w. v.