Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 16 December 1881, Page 3

HOTEL TO LET. mO LET.-THE QUARTZ REEF HOTEL, Black's Point. For fur*, ther particulars' apply*to Thomas Lee. EXCHANGE HOTEL, UPPER BROADWAY, ! Rebfton. I Nothing but the best Brands and i Choicest Samples of WINES, ALES, and SPIRITS, kept io Stock. Lofty and weli.-ventii.ated Bedbooms fob Visitors. In connection with the Hotel tbe pro* prietor 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 ensure convenience and comfort of audiences and actors, Comprising new scenery and other ac* tessories, including a magnificent Piano, necessary for first-class per* formances, witb Commodious Dressing Rooms adjoining the stage, which is the largest in Reefton. The Hall will be let on Reasonable Teems, and no endeavour will be spared to . render tbe Hotel**and Hall atti active to all, Visitors ANTHONY KATER, Pbopeietor. PROSPECTUS GF THF INANGAHUA DIAMOND DRILL AND ROCK BORING MINING UOMPANY, Limited, Registered under " Tbe Mining Companies' Act, 1872." CAPITAL :"£6OOO, in 24,000 shares at 5s each; THREEPENCE on Application ; 3d on Allotment, and Calls cot 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 MToughlin Mr Fraser Mr P. Butler Mr FitzGerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Ralf Mr Hankin Mr Murphy BankE-S : The National Bank of New Zealand, Limited, at Reefton. Hon. Secket.-EY : Wm. Hugh Jones, Solicitor, Beefton, OBJECT OF THE COMPANY. The object of the company ia introduction of the Diamond Drill ,an admitted factor to successful progress in mining, to prospect, aad 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 tban by reference to the following statement made io 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 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 effected. Calculations in thiß direction huve been made with some care, and are to hand, viz — Crown Cross United Company, 19044 shares, former price Is 2i each: present value 10s. South Cross United Company, 30.240 shares, former buyers, la 2d ; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14,400 scrip ; former buyers 4s lOd ; present buyers 14 j 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. The grand total value of these 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 the total of their value is £148,400 ; the one diamond dtill increasing the value uf 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 sucli 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 tbe 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 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 of £50,000, for the purchase of diamond drills, and another company for the sa c 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 for boring, and also to prospect any ground that may hereafter be acquired by the 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, which may at the discretion of the shareholders, be appropriated, to the pur* chase of additional appliances. Thelnangahna district is peculiarly favor-, able for the operation of the diamond drill. A meeting of shareholders will be called afler 16,000 shares havo been applied for, to decide upon the future course of opera.ion?. Forms of application for shares to be ob« tamed from the ur designed , W. H.