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The Pamphlet Collection of Sir Robert Stout: Volume 80a

[introduction]

Of which 18,000 Shares are offered to the public on the following terms: One shilling per share on application, one shilling per share on allotment, and the balance in calls not exceeding sixpence per share, at intervals of not less than one month.

The Vendors receive 6000 fully paid Shares in payment of their interest in the Special Claim which the Company is being formed to acquire.

The Company will not go to allotment until 6000 Contributing Shares have been applied for.

Dividends will be paid on Shares irrespective of the amounts paid up.

Shares will be allotted according to priority of application.

No application for less than 20 Shares will be received.

The subscribers to the Memorandum and Articles of Association shall be Provisional Directors.

Bankers—

  • The National Bank of New Zealand, Limited, Wellington.

Solicitors—

  • Messrs. Moorhouse & Hadfield, Wellington.

Broker

  • Henry A. Evans, M.E., 4, Hunter Street, Wellington.

Interim Secretary

  • G. C. Carter, Lambton Quay, Wellington.

The Company is being formed to acquire and work a Special Claim of eighty-two (82) acres Top Valley Creek, Marlborough, under a license for a Special Quartz Claim, dated the 30th day of December, 1899, issued under "The Mining Act, 1898." The land affected is part of Block XVI. in the Pine Valley Survey District. Negotiations are in progress for acquiring rights over 100 acres adjoining the above lands which would, if acquired, further assist the convenience of working the above claim.

The expenses incidental to the flotation and incorporation of the Company will be borne by the Company.

The Vendors' agreement is dated the 15th day of April, 1901, and is made between Thomas Palmer Coveney, of Wellington, Grocer, and John Wright, of Wellington, Accountant, of the one part, and George Charles Carter, of Wellington, Mining Agent and Broker, on behalf of the Company, of the other part, which may be seen, together with the report quoted below, at the offices of the Company's Solicitors.

The Claim is only 34 miles from Blenheim, and can be reached by buggy. For the first 24 miles the road is excellent, the remaining portion being through river fiat and creek bed.

The Jubilee Company's Claim on the south side is an established

fact. Crushings have gone (boxes only) about 8dwts. to the ton, and from the blanketings more than another 8dwts. to the ton have been taken. This total of 16dwts., or £3 to the ton, shows that this belt of country is one of the richest in New Zealand. The treatment of the tailings by the cyanide process would give a further yield.

On the Just for Luck claim are three distinct lodes of varying dimensions, and all show good prospects.

Particulars are given in the subjoined report of James H. Evans, M.I.M.E.

The Claim has been well prospected, driving and sinking to the amount of 281 feet having been done. The mine is now in a perfect state for the erection of machinery necessary to work the vast amount of quartz contained in the Claim.

There is on the Claim abundance of timber of all descriptions both for firewood and milling purposes, and a large stream of water runs through the property in the driest of summers.

The value of the property is undoubted, and must prove an extremely valuable investment for money.

The confidence of the Vendors is shown by the fact that they are willing to accept in payment fully paid shares alone.

The expenditure on the Claim has been over £20 a month for two years.

It is estimated that with £6000 of capital subscribed work could be advantageously started within six months of the formation of the Company, and that the yield of gold would begin immediately.

From the subjoined report it will be seen that on estimate is formed of a yield of the enormous sum of £264,000 from one lode in the Claim alone, at the moderate return of 8dwts. to the ton.