Page 3 Advertisements Column 6

Inangahua Times, Volume II, 14 November 1881, Page 3

INANGAHUA COUNTY COUNCIL NOTICE, AT the ordinary meeting of the Inan* pahua County Council, held at the Council Chambers. Reefton, on Tuesday, the 18th day of October, 1881. it was resolved on the motion of Mr Brvnnan, and seconded by Mr Williams,— "That a Rate of Ooe Shilling in the Pound upou the values of the Rateable Property, as appearing in the Valuation Roll for »he time being in force in the Couuty of Inangahua be now made, and the same fs hereby made, and that such Rate be for a period of yne year, 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 sum on the 22nd day of OCTOBER, 1881." Notice is hereby given that the abov? Rate will be due as above stated, and that the same must be paid to the Rate i)ol« lector, or at the Oflice of the Council, Reefton, on or after the 22nd instant. Dated this 19th day of October, 1881, JOHN HAROLD, County Clerk. NOTICE. THE UNDERSIGNM) will DE LIVE ft best FIiJEWOOD for CASH OiNLY, 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 boring mimng COMPANY, Limited, Registered under •• The Mining Com> panics' Act, 1872." CAPITAL :*£6ooo, in 24,000 shares at 53 each' THREEPENCE on Application ; 3,1 on Allotment, and Calls not to exceed 6d per mouth. NO PROMOTERS SHA.RES. 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 Ml oughlin Mr Praser Mr P. Butler Mr FitzGerald Mr Hobby Mr Boardman 31r Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Rait MrHankin Mr Murphy Bankers : The National Bank of New Zoaland, Limited, at Reefton. Hon. Secbetaby : Win. 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 the valuable quartz reefs on the We9t Coast of the Middle Island, the initiation of the movement primarily centering and operating in the well known district ol Inangahua, a locality famous for its rich quartz lodes. I The benefit that would accrue to all classes connected with these goldfield*, 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 nu the Fsttumteg for 1882, to pur. cbase 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 band, viz.— Crown Cross United Company, 19 044 shares, (ormer price lc 2d each : preseut value 10s. South Cross United Company, 30,240 shares, former buyer?, Is 2d ; present buyers, ss. Nos. 14, 15,* and 16 South Cross, 14.400 scrip ; former buyers 4s 10d ; present buyers 14* 6d. Nos. 1 and 2 North Scotchmans, (formerly unsaleable) 8960 shares ; present buyers 10s. The value of the Exteuded has been increased by £22,000; Scotchmans United, £25 300, as likewise the Pleasant Creek Cross Keet Company, and the Oriental. The grand total value of these stocks before the discovery of the gold«bearing reef io the Crown Cross United Compsuy s ehalt by the aid of the diamond drill was about £41,164 ; now the total of their value is £148 400 ; the one diamond diill increasing the value mining property in this instance £107,246. But tins increase haa only begun to grow, and it is therefore difficult to say what one or two more discoveries will effort." With such facts ard figares before them there should be no doubt iv the minds of those whose interests «re wrapped up and intimately linked with the success or failure of the quartz reeling industry as to the necessity of promoting the furtherance of thf S preieut undertaking, which undt-r efficient and careful nmnag«ment cannut f'utt to give important aid to ihe development of the re-» sources ol the district, and will iv addition act as a check upou the hitherto wa»te'itl expenditure of large sums of money in ihe construction of prospecting tunnels and shafts. As a lurther incentive to the promotion of this company, it may he mentioned thut the drills supplied by the Victorian Government proving inadequate to the requirements ol its {joldiields, a eempany has been formed in Biiiiurat. with a capital ot £50,000, for the purchase- of Uiauioud drills, and .-mother company ior the sac < e purpose has been projected at Sandhurst;, with a capital ot £25,000. It is intended to let tiie drill lor hire to onv comjiaiiy requiring it; to lake cuiilrucis ior j boring, and uiso to prujpect any ground thut ' may hcreaitcr be acquired by 'lie coui[Mi:y. Until the &um>»6 oi the UMucrtakiug is full) demonstrated by re&ulls lrom the use ol one drill, which it is iuumled to orcU-r ar an ear!) date, only v portion ol the capital will be called up, t>nd it is calculated ilmi the nveuue arising from the hiring out of the machine will jield a. lunidsomi' return in dividends, whien may at the discretion of the j shareholders, be appropriated to the pur- j i-huei; ol ucidiuoiiul appliances. j Ilic liiiirgahuu district is peculiarly favorable ior the operation cf the diamond dii.l. Auieiling oi t)n-i\ii»]dcn will Ik- railed j aflcr Ib'.GOU shnrt-s have been up[l:ti.l ior, to j dtcidu upou the lutuiv course ot op\.-t.»<ionf. j Jronii* <<f application u-i* > limes io V oi.- \ tai: ; ul rv.."<i 'he v. O: r-i;; :•"■;. ' i