Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 23 December 1881, Page 3

EXCHANGE K6TEL, UPPEK BROADWAY, Reefton. Nothing but the best Brands and Choicest Samples of WINES, ALES, and SPIRITS, kept in Stock. Lofty and well-ventilated Bedbooms for Visitors. In connection with the Hotel the proprietor wishes to draw »he attention of Managers of Dramatic, Theatrical and oilier 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 scenerj and other ac« ressories, inc!uding a magnificent PIANO, necessary for first-class performances, with Commodious Dress» ing lfooms adjoining the stage, which is the largest in Reefton. The Hall will be let on Reisonable 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 fur* ther parllculars'apply to Thomas Lee. PROSPECTUS OF THE INANGAHUA DfAMOND DRILL AND ROCK BORING MINING uOM PA N Y. Limited. Registered under "The Mining Com* paniea' Aft, 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 Joneß MrPotta Mr Wise Mr Lee Mr Beeche Mr Cohen Mr M'loughlin Mr Fraser Mr P. Butler MrFitzGerald Mr Hobby Mr Boardraan 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. Seoubtabt: Win. Hugh Jonea, 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 ihe West Coast of the Middle Island, the initiation of the movement primarily centering and opera ing in the well known district of luangahua, a locality famous for its rich quartz lodes. The benefit that would accrue to all classes connected with these goidflelds, directly, as well as indirectly, cannot possibly be better illustrated than by reference to the following statement made in tbe 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* cbase diamond drills, &c, : — " Tbe value of the work performed by one diamond drill at Stuwell ia best understood by the enhanced value of mining properties v:hich its discoveries have effected. Calculations in this direction bave been made with 6ome care, and are to band, viz. — Crown Cross United Company, 19.044 shares, former price Is 21 each : present value 10a. South Cross United Company, 30.240 shares, former buyers, Is 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; Scotch mans United, £25 300, as likewise the Pleasant Creek Cross Reel Company, ami the Oriental. The grand total value of these stocks before the discovery of the gold-bearing reef ia the Crown Uross United Company's shaft by the aid of tbe diamond drill was about £41,164 ; now tbe total of their value is £148,400; tbe one diamond dull increasing tbe value of mining property in tbia instance £107,246. But this increase has only begun to grow, end 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 iailure of tbe 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 tbe district, and will in add it is act as a check upou tbe 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 iormed in Ballaiut, with a capital of £50,000, for the purchase of diamond drill?, and another company for the Bare purpose has been projected at Sandhurst, with a cupital of £25,000. It is intended to let the drill ior hire to any company requiring it; to take contracts for boring, and also to prospect any ground that may hereafter be acquired by ' hecompuny. Until tbe 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 lroin the hiring out of the machine will yield a handsome return in dividends, whicii may at the discretion of the shareholders, be appropriated to the pur* chasti of additional appliances. The Inangulinii district is peculiarly favorable ior the operation of ihe diamond drill A meeting of shareholders will be called after 16,000 shares bave been applied for, to decide upou the future course of operations. l'orms of application ior shares to ';s obtained from ihe undersigned. W. H.