Page 3 Advertisements Column 3

Inangahua Times, Volume II, Issue II, 26 December 1881, Page 3

EXCHANGE ~HOTEL, UPPER BROADWAY, Reefton. Nothing but the best Brands and Choicest Samples of WINES, ALES, and SPIRITS, kept in Stock. Lofty and well-ventilated Bedbooms fob Visitors. In connection with ihe Hotel the proprietor wishes to draw the 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 scenery and other ac« ressories, including a magnificent ■ Piano, necessary for first-class per* formancps, with Commodious Dress* ing l.'oomg adjoining the stage, which is the largest in Reefton. The Hall will be let on Reasonable Terms, and no endeavour will be spared to render th<> Hotel and Hall attractive to all Visitors AN ID ONT EATER, PfiOPBIETOB. HOTEL TO LET, fjlO LET.-THE QUARTZ REEF HOTEL, Black's Point. For fun ther partlculars'apply to Thomas Lee. PROSPECTUS OF THE INANGAHUA DIAMOND DRILL AND ROCK BORING MIiNIJNG uoM PAN Y. Limited, Registered under "The Mining Com» ; paoiea' Act, 1872." CAPITAL f£6ooo, in 24,000 shares at 5s each; THREEPENCE on Application ; 3d on Allotment, and Calls not to exceed ' . .-?' 6d per month, NO PRO tf OTEKS SH ARES. PROVISIONAL COMMITTEE : Mr Bowman Mr Lewis Mr lluuter Mr Lecky Mr Brennan Mr Jones Mr Potts Mr Wise Mr Lee Mr Beeche Mr Cohen MrM'loughlin Mr Eraser Mr P. Butler Mr FitzGerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr' Watson Mr M'Kay Mr Love Mr R&U MrHankin Mr Murphy Bakkebs : The National Bank of New Zealand, Limited, at Reefton. Hon. Sboubimby •• Wm. Hugh Jones, Solicitor, Reefton, OBJECT OP THE COMPANY. The object of the company is introduction^ ot the Diamond Drill ,an admitted factor to successful progress in mining, to proßpect, and 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 #ell known district Of Inungabua, 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 illustrateJ 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 plated nn the Fstiiuates for 1832, to purchase diamond drills, &c. : — "The value of the work performed by one diamond drill at Stfiwellis ' beet understood by the enhanced *alue of mining properties which its discoveries have effected Calculations in this direction have been made with some care, und are to band, viz.— Crown Cross United Company, 19.044 shares, former price la 2i each: present value 10s. South Cross United Company, 30.240 shares, former buyers, Is Zd ; present buyers, ss. Nos. 14, 15, and 16 Soui h Cross, 14,400 scrip; former bujers 4a lOd I; pres.nt buyers 14j 6d, Nos. 1 and 2 North Scotchmang, (formerly unsaleable) SD6O Bhires ; present buyers 10s. The value nf the Extended has been increased by £22,000; Scotch mans United, £25300, as likewise the Pleasant Creek Cross Beet Company, and the Oriental. The grand total value of these stocks before the diocovery of the 1 gold-bearing reel in tbe 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 ; the one diamond drill increasing the value uf mining property in this instance £107,246. But this, increase has only begun to grow, aud 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 tbe minds of those whose iuterests are wrapped up and intimately liuked with the success or lailure of the quartz reeling industry as to the heceisity of promoting tbe furtherance of the preient j undertaking, which under efficient and careful management cannot fail to give important aid to the development of the re« sourceYof tbe district, and will in add it is act -ju a check upou tbe hitherto wasteful i expenditure of large sums of money in (he cqnstrubtion of prospecting tunnels aud slialts'. i j As a 'lurther incentive to the promotion of this- company, it may be mentioned that the i drills supplied by the Victorian Government I proving inadequate to the requirements of its goldfietida, a company has been formed in Bttllarut, with a capital of £50,000, ibr the purchase of diamond drills, and another company for the sa re purpose has been projected at Sandhurst, with a capital of £25,000. It i« intended to let tbe drill lor bire to any company requiring it; to take contracts ior boring* and also to prospect any ground that may hereafter be acquired by 'he company. Until the success of the undertaking is full} demonstrated by results from the use of one drjll, which it is intended to order at an early date, only a portion of the capital will be called up, »nd it id calculated that the revenije arising from the hiring out of the machine will yield a handsome return in dividends, whicn may at the discretion of tbe shareholders, be appropriated to the pur» chase of additional appliances. The Inanguhnu district is peculiarly favorable for tbe operation of the diamond drill. A meeting of shareholders will be called after JL6,000 shures have been applied for> to decidp upon the future course of operations. Form* of application ior shares to be ob* taiued from tue uadenigned, I w.b;.