Page 3 Advertisements Column 7

Inangahua Times, Volume VII, Issue 1048, 13 February 1882, Page 3

Pubic Nouces. EXCHANGE HOTEL, U P P 15 Ji 1* K O A D W A V "Kepftox. Nothioj? bu-B the best Urnnds and Choicest Samples of WINES, ALES, and SPIRITS. kept in block. Lorrr and well-ventilated Bed** booms fob Visitors. In connection with the Hotel the proprietor wishes to draw the attention of Managers of Dramatic, Theatrical and other Companies to tlto •ODDFELLOWS' HALL,' Which bas lately been entirely re* novated, enlarged, and fitted np in a manner to ensure convenience and comfort of audiences and actors, Comprising new scenery and other ar*cessories, including a magnificent Piano, necessary for first- rlass performances, with Commodious Dressing Rooms adjoining the state, wbich is the largest in Reefton. The Hall will be let on Reasonable Tebms. and no endeavour will be spared to render tin* Hotel and Hall attractive to all Visitors ANTD ONT KATER, Pbopbibtob. PROSPECTUS OF TBE INANGAHUA DIAMOND DRILL. AND ROCK BORING MINING COMPANY. Limitbd. Registered under "The Mining Coma pan ies' Act, 1872." CAPITAL :"-£6OOO, in 24,000 shares at 5s each* THREEPENCE on Application ; 3 J 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 Mr Fits Gerald Mr Hobby Mr Boardman Mr Walker Mr J. Gallagher Mr Archer Mr Watson Mr M'Kay Mr Love Mr Ralf Mr Hankin Mr Murphy Bahkbbs : The National Bank of New Zealan Limited, at Reefton. Hok. Sscbetabt : Wm. Hugh Jones, Solicitor, Reefton, OBJECT OF THB COMPANY. The object of the company is intro* daction of the Diamond Drill ,an admitted 1 factor to successful progress in mining, to prospect, and more speedily develop thn valuable quartz reefs on the West Coast of the Middis Island, the initiation of the movement primarily centering and opera ing in the well known district of Inangahua, # locality famous for its rich quarts lodes. Tut- benefit tbat would accrue to all classes connected with these goldfields, directly, as well as indirectly, cannot possibly be better illustrated than hy reference to the following statement made in the' Victorian House of Assembly, in tbe month of August last, by a member in support of a motion that £10.000 be placed nn tbe Fstiuiates 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 propertiea whioh its discoveries bave effected. Calculations in tliis direction have been made with some care, and are to hand, vis. — Crown Cross United Company, 19044 shares, former price ls 21 each : ptesent value 10s. South Cross Unt* ted Company, 30 240 shares, former buyers, ls 2d ; present buyers, ss. Nos. 14, 15, and 16 South Cross, 14,400 scrip; former bujers 4s lOd ; present buyers 14s 6d. Nos. 1 and 2 North Scotchmane, (formerly ' unsaleable) 8960 shares ; present buyers 10s. The value of the Extended has been inoreased by £22,000; Scotch mans United, £25 300, sis 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 tbe diamond drill was about £41,164; now the total of their value is £148,400 ; the one diamond dtill increasing the value of mining property iv this instance £107,246. But this increase has only begun to grow, and it is therefore difficult to say what one or two moM 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 liuked with the success or fnihire of the quartz reefing industry as to the necessity of promoting the furtherance of thn prerent undertaking, which under efficient and carelul management cannot fail to giviiniportant ad to the development of the re* sources ol the district, and will in add itis act as a check upou th« hitherto wastelul expenditure of large sun»« of money in the construction of prospecting tunuels and shafts. As a Jurther incentive to the promotion of this company, it maj be mentioned that the drills supplied by the Victori m Government proving inudequ -te to the requirements ol its jjoldfields, a company has been formed in Ballarat. with a capital ol £50,000, lor the purchase of diamond cHlls*, and another company for the sa c purpose has been projected at Sandhurst, with a capital ot £25,000. It is intended to let the drill lor hire to any company requiring it ; to take contracts lor boring, and aiso to pr»>.*pect any ground that v.ay hereaiter he acquired t*y he comp my. Until the success ol the undertaking is full) demonstrated by results irom tl.e nee of one'drill, which it is intended to ord. r at an early date, only a p »riioii ol tiie enpit.il will be called up, .--nd it is eulpui-tted lliut th.revenue i.risir.g from the lining out uf t!in machine will yield » h-imtso-ue return in dividends, whicn may ut the dii-eretion nl Mm shareholders, be tii)|>roprin*;ed to the purchase of additional appliances. Thclnungahu-ti district i» poculinny favorable for the operation of the diamond dii.l. A inciting of ehnreholders wi.i be called after 16,000 shares have been applied ior, to decide upon the future course of ■■pera ions. Form? of application lor share* io c oh tamed Irom tne v der.-i^ncd. W. If. /^ALL EEC lil ITS Circulars, Su*ip ll.ilf- Yearly Statements. Puy-Shec •. v ehl i.iti__a!ni'.i Ti nes, J >b Prtini-t .->}•, Oei.lral Ciondw-iy w'cl't