Page 3 Advertisements Column 3

Inangahua Times, Volume II, 23 November 1881, Page 3

WALHALLA QUARTZ MINING i LIMITED. i 4 SPECIAL GENERAL MEETA. ING of Shareholders ia the above-named Company will be held at the Registered Ofiice, Broadway, Heefton. on WEDNESDAY, Noyenv i ber 30, 1881, at 2 p.m. Business : To Pllect Directors to fill vacancies on the Board ; and To consider future works. GKOJiGE WISE, Manager. MTARLAND'S EXPRESS. fpHB UNDERSBGKBTED will Leave WILLIAMS' HOTEL, DAILY, for CROiNADUN and CAPLESTOiN Conveying PASSENGERS, PARCELS, LKTTKRS, &c. Passengers and Freight conveyed by Arrangeuieat trim Reefton to Lyell and any other part of the district. Apply at Williams' Hotel, Reeffcon. FARK-ITVE SHILLINGS EACH WAY P, M'PARLAND, Proprietor p\ALh BECEIPTS Circulars, Scrip HnlfVYearly Statementß, Pay-Sheets, Ac, at the Inangahua Times, Job P riuting Office Central Broadway, Beefton. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MINING uOMPANY. Limited, Registered under " The Mining Corns panies' Act, 1872." CAPITAL :'£6ooo, in 24,000 shares at 53 each: THREEPENCE on Application ; 3d on Allotment, and Calls ,DOt 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 4 I oughlin Mr Eraser Mr P. Butler MrFitzQerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Ralf MrHankin Mr Murphy Bankebs : The National Bank of New Zealand, Limited, at Reefton.* Hon. Seobetaby : Win. Hugh Jones, Solicitor, Reefton, OBJECT OF THE COMPANY. The object of the company is introduction ot 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 opera* ing in the well known district of Inangahua, a locality famous for its rich quartz lodes. The benefit that would accrue to all classes connected with these goldfields, directly, as well as indirectly, cannot possibly be better illustrated than by reference to the following statement made ia 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 Estimates for 1882, to purchase diamond drills, &c. :— " The value of the work performed by one diamond drill at Stawell is beat 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.— Grown Cross United Company, 19.044 shares, former price Is 2.1 each : present value 10s. South Cross United Company,- 30,240 shares, former buyero, ! Is 2d ; present buyers, ss. Nos. 14, 15, and j 16 South Cross, 14,400 scrip; former bujevs 43 lOd j pres nt buyers 14a 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 ReetJCompany, and the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reef ia the Crown Cross United Company s 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 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 more discoveries will effect." With such facts and figures before them there should be no doubt in the minds of those whose interests are wrapped up and intimately linked with the success or failure of the quartz reefing industry as to the neceisity 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 res sources of the district, and will in add in act as a check upon the hitherto wasteful expenditure of large sums of money in the construction of prospecting tunnels and shafts. As a iurther incentive to the promotion of this company, it may be mentioned that the drills supplied by the Victorian Government proving inadequate to the requirements of its poldfields, a company has been formed in Bullarat. with a capital of £50,000, for the purchase of diamond drills, and another company for the sa tie purpose has been projected at Sandhurst, with a capital of £25,000. It is intended to let the drill (or hire to any company requiring it j to take contracts for boring, and also to pro3pect any ground that may hereafter be acquired by >he company. Until the success of the undertaking is full) demonstrated by results from the use of one drill, which it is intended to order at an early date, only a portion of the capital will be called up, and it u calculated that the revenue arising irom the hiring out of the machine will yield a haudsorae return in dividends, which may at the discretion of the shareholders, be appropriated to the pur« chase of additional appliances. The Inangahca district is peculiarly favorable for the operation of the diamond drill. A meeting: of shareholders will bo called afler 16,000 shares have been applied for, to decide upon the future course of operation?. Forma of application for shares to be ob« taineel from the undersigned. W. H.