Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 5 December 1881, Page 3

THE BONANZA QUARTZ MUSING COMPANY, LIMITED. NOTICE. SHAREHOLDERS in the above Company are requested to PBODITOE iheir TRANSFERS to the undersigned as soon as possible t W. HINDMARSH, Secretary pro tern. MORNING- STAR QUARTZ MIN< ING COMPANY, LIMITED. mHFOKDINAEY HALFYRAELY 1 MEETING of SHAKEHOLD* EHfc will be held at the Company's Office, Eeefton, on MONDAY, DE« CEMBER, 11th, 1881, at 7 p.m. Business : To Receive the Directors Eeport and Baiance-sbeet ; and To appoint Directors and Auditor. GEORGE WISE, Manager. HOMEWARD BOUND QUARTZ MINING COMPANY, LIMITED. n 8 Meeting of Directors held A. Ibis day, a CALL of ONE PENNY per share was made, " Payable to the Manager et the Eegistered Office of ttfe Company, Reefton, on WEDNESDAY, December 14tb, 1881. THOMAS LEE, Manager. Eeefton, 3rd December, 1881. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MINING COMPANY, Limited, Registered under "The Mining Com* paDies 1 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 Beeohe *Mr Cohen Mr M'l-oughlin Mr Fraser Mr P. Butler Mr FitzGerald Mr Hobby . Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Koy , Mr Lore Mr Ball MrHankin Mr Murphy Bakeebs : The National Bank of New Zealand, Limited, at Beefton. Hon. Seobetabt : Wm. Hugh Jones, Solicitor, Beefton, 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 qnartz 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 Innngahua, 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 rolerence to the following statement made in the Victorian House of Assembly, in the month of August last, bj a member in support of a motion that £10,000 be placed nn the Estimates for 1832, to pur* chase 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 hand, viz.— Crown Cross United Company, 19 044 shares, former price 1b 2i each : present value 10s. South Cross United Company, 30.240 shares, former buyers, U 2A ; present buyers, ss. Nob. 14, 15, and 16 South Cross, 14,400 scrip ; former buyers 4s lOd ; presont buyers 14s 6d. Nos. 1 and 2 North Scotchmans,* (formerly unsaleable) 8960 shares ; present buyers 10s. The value of the Extended baa been increased by £22,000 ; Scotchmanß United, £25 300, as likewise the Pleasant Creek Cross Bee^Company, and the Oriental. The grand total value of these stocks before the diacovery of the gold-bearing reef in 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 j the one diamond drill increasing the value wf mining property in this instance £107,246. But this increase has only begun to grow, and it is therefore difficult to eay^ 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 necessity 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 it is act as a check upou the hitherto wastelul expenditure of large sums of money in the construction of prospecting tunnels and shafts. As a further 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 ita goldfield?, a company has been formed in Ballarat. with a capital of £50,000, for the purchase of diamond drills, and another com* pany for the sane purpose has been projected at Sandhurst, with a capital of £25,000. It is intended to let the drill for hire to any company requiring it; to take contracts /or boring, and also to prospect any grouud that may hereafter be acquired by 'he company. 1 "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 dute, 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, which may at the discretion of the ' shareholders, be appropriated to the purchase of additional appliances. The Inanguhna district is peculiarly favor--1 able for the operation of the diamond drill. , A meeting of shnveholders will be called afler 16,000 shares have been applied for, to 3 decide upon the future course of openiUoiiH. Fortes of application for shares to *3e ob* j rained from the uudiTiigned. W. H f