Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 28 November 1881, Page 3

EXCHANGE HOTEL, UPPER BROADWAY, Reefton. Nothing but tbe best Brands and Choicest Samples of WINES, ALES, and SPIRITS, kept in Stock. Lofty and weil-ventilated Bedbooms fob Visitobs. In connection with the Hotel the proprietor wishes to draw the attention of Managers of Dramatic, Theatrical and other Companies to the •ODDFELLOWS* HALL,' Which has lately been entirely renovated, enlarged, and fitted up in a manner to ensnre convenience and comfort of audiences and actors, Comprising new scenery and other ac* cessories, including a magnificent Piano, necessary for first-class per* formances, with Commodious Dressing Rooms adjoining tbe stage, which is the largest in Reefton. The Hall will be let on Reasonable Teems, and no endeavour will be spared to render the Hotel and Hall atti active to all Visitors. ANTHONY KATER* Pbopbibtob. HOTEL TO LET. mo ;let.-the: quartz reef HOTEL, Black's Point. For furs ther particulars apply to Thomas Lei. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MINING COMPANY, Limited, Registered under "The Mining Com* paDies' Act, 1872." CAPITAL :"£6OOO, 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'loughlin Mr Fraser Mr P. Butler Mr Fitz Gerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Bait Mr Hankin Mr Murphy Ban-:ebs : The National Bank of New Zealand, Limited, at Reefton. Hon. Secbet-by : Wm. 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 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. Tbe 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 in the Victorian House of Assembly, in the month of August last, by a member in support of & motion that £10,000 be placed nn (be Estimates 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 etfected. Calculations in this direction have been made with some care, and are to hand, viz.— Crown Cross United Company, 19.044 shareß, former price Is 2d each : present value 10s. South Cross United Company, 30,240 shares, former buyers, ls 2d; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14,400 scrip ; former bujera 4s lOd ; present buyers 14s 6d. Nos. 1 and 2 North Scotchmans, (formerly unsaleable) 8960 shares ; present buyers 10s. The value of tbe Extended has been increased by £22,000; Scotchmans United, £25300, as likewise the Pleasant Creek Cross ReetJJCou)pany, aud the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reef in tbe Crown Cross United Company's 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 uf mining | property in this instance £107,246. But i tbis increase haß only begun to grow, aud it i is therefore difficult to say what one or two more discoveries will effect." With such facts a_d 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 laii ure of the quartz reefing industry 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 tbe development of the re« sources ot the district, and will in add iti act as a check upon the hitherto wasteful expenditure of large sums of money in the construction of prospecting tunnels and shafts. As a lurther incentive to the promotion of this company, it may be mentioned that the j drills supplied by the Victorian Government proving inadequate to tbe requirements of its goldfields, a company has been formed in Ballarat, with a capital of £50,000, for the purchase of diamond drills, aud another com* pany for tbe sa t*e purposo has been projected at Sandhurst, with a capital of £25,000. It is intended to let tbe drill for hire to any company requiring it ; to take contraots ior boring, and also to prospect any ground that may herealter be acquired by ihe 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 is calculated that the revenue arising from the hiring out of the machine will yield a handsome return in dividends, whicu may at the discretion of the shareholders, be appropriated to the purchase of additional appliances. The Inangahna district is peculiarly favorable for the operation of the diamond drill. A meeting of shareholders will be called afier 16,000 shares have been applied for, to decide upon the future course of operation-' For(_B of application for shares to be ob* tamed Irom the undersigned. W. H.