Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 21 December 1881, Page 3

EXCHANGE EOTSL, UPPBU BROADWAY, Eef.pton. Nothing but the best Brands and Choicest Samples of WINES, ALES, and SPIRITS, kept in Stock. lopty and well-ventilated bedhooms fob Visitors. In connection with the Hotel the proprietor wishes fo draw (he attention of Managers of Dramatic, Thentricnl 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 accessories, including a maenificent . Piano, necessary for first- class per* formances, with Commodious Dress* ing l(ooms adjoining the stage, which is the largest in Reefton. The Hall will be let on Reasonable Tebms, and no endeavour will be spared to render th^ Hotel and Hall attractive to all Visitors AN TIJONY KATER, Propbibtob. HOTEL TO LET. mo LET.-THE QUAKTZ KEEF HOTEL, Black's Point. For fur* ther partlculars'apply to Thomas Lee. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MINING uOMPANY. Limited, Registered under "The Mining Corns pan ics' 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'l-oughlin Mr Fraser Mr P. Butler MrFitzQerald Mr Hobby Mrßourdman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Ralf • MrHankin Mr Murphy Bankers : The National Bank of New Zealand, Limited, at Reefton. HON. SBOHEtfaBY : 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 thenffi3QKr TslanaV 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 goidfields, directly, as well as indirectly, cannot possibly be better illnstrateJ 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 a motion that £10,000 be placed nn the Estimates for 1882, 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 discoveriea 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 Is 23 each : present value 10s. South Cross United Company, 30 : 240 shares, former buyers, Is 2d ; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14,400 6crip j former buyers 4s lOd ; present buyers 14a 6d. Nos. 1 and 2 North Scotchman^ (formerly unsaleable) 8960 shares ; present buyers 10s. The value of the Extended has been increased by £22,000; Scotchman United, £25,300, as I likewise the Pleasant Creek Cross Beef Company, and the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reef in the Crown Uross 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 of mining property in this instance £107,246. But thin 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 it is act as a check upon the hitherto wasteful expenditure of large suras 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 (joldfielcta, a company has been formed in Ballarat. with a capital of £50,000, for the" purchase of diamond drills, and another company for the same 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 aJso to pro3pect any ground that may hereafter be acquired by 'he company. Until the success of the undertaking ia full} demonstrated by results Jrom the use of one drill, which it is intended to order at an early date, only a portion of the capital will b 9 called up, i>nd it is calculated that the revenue arising from the hiring out of the machine will yield a handsome return iv dividends; whieu may at the discretion of the shareholders, be appropriated to the purchase of additional appliances. Thelnangahnu district is peculiarly favorable for the operation of the diamond drill. A meeting of shareholders will bo called after 16,000 shares have been applied for, to decide upon the future course of opera '.iou?. Forms of application for shares to je ob* tamed from the urcterjigned, W. H.