Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 14 December 1881, Page 3

HOTEL TO LET. mo LET.— THE QUARTZ REEF HOTEL, Black's Point. For fur* ther particulars' applyfto Thomas Leb. EXCHANGE HOTEL, UPPER BROADWAY, Reb_*to_t. Nothing but tbe best Brands and Choicest Samples of WINES, ALES, and SPIRITS, kept in Stock. Lofty and well-ventilated Bedbooms fob Visitors. In connection with the Hotel tbe proprietor wishes to draw tbe attention of Managers of Dramatic, Theatrical and other Companies to the •ODDFELLOWS' HALL/ Wbich bas lately been entirely renovated, enlarged, and fitted up in a manner to en.ure convenience and comfort of audiences and actors, Com pri sine new scenery and other ae* cessories, including a magnificent Piano, necessary for first* class per* formances, with Commodious Dressing Rooms adjoining the stage, which is tbe largest in Reefton. The Hall wili be let on Reasonable Tebms, and no endeavour will be spared to render the Hotel and Hall attractive to all Visitors ANTHONY KATER, Pbopbibtob. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MINING COMPANY. Limited, Registered under "The Mining Com* pan ies* 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 FitzQerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Rail Mr Hankin Mr Murphy Bansebs : The National Bank of New Zealand, Limited, at Reefton. Hon. Secbbtabt : 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 tbe 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 beneflt that would accrue to all classes oonnected with these goldfields, directly, as well aa indirectly, cannot possibly be better illustrated tban by reference to the following statement m_de 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 nn the Fstituates for 1882, to purchase diamond drills, &c. : — " The value of the work performed by one diamond drill at Stawell is beet 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, former price Is 21 each : present value 10s. South Cross United Company, 30,240 shares, former buyer., ls 2d ; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14,400 scrip ; former buyers 4s lOd ; present buyers 14s 6d. Nos. 1 and 2 North Scotchmans, (formerly unsaleable) 8960 shares ; present buyers 10s. The value of the Extended has been increased by £22,000; Scotchmans United, £25,300, as likewise the Pleasant Creek Cross Reef Company, and the Oriental. Tbe grand total value of tbese stocks before the discovery 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 tbe 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 ard 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 re» sources of the district, and will in add it is act as a check upou the hitherto wasteful 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 its goldfields, a company has been formed in Ballarat, with a capital ol £50,000, for the purchase of diamond drills, and another company for the satie purposo haa been projected at Sandhurst, with a capital of £25,000. It is intended to let the drill for hire to any company requiring it j to take contraots for boring, and also to prospect any ground that may hereafter be acquired by »he company. Until the success of the undertaking is fully 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 tbat tbe revenue arising Irom the hiring out of the machine will yield a- handsome return in dividends, whioh may at the discretion of the shareholders, be appropriated to the purchase of additional appliances. » The Inangahna district is peculiarly favorable for flic operation of the diamond drill. Averting of shareholders will be called M^»16,000 t shares have been applied for, to upon the future course of operation*. * . Forms of application for share* to be ob» tamed from the undersigned. W. H.