The Vendorß undertake to pay all expenses up to the Allotment of Shares, except the expenses of and incidental to the framing of the Memorandum and Articles of Association, and the Registration of the Company. Mr E. H. Beere, O. E., and M.E., of Wel- lington, who haa made a report on the Baton Goldfields (a copy of whose report accompanies each Prospeotus), says, " It is estimated v'A&t the quantity of auriferouß drift «o be treated is seventy-two million Ams, which at the low average of two grains per ton, gives 800,000 ounces of j?nU': whioh, at 73a per ounce, gives #i',095,000. " Previous test* by the Ji-iiubrs give afar higher return, but taking Me Beere'e very low estimate o the yield, and the fact that with proper appliances the property could be worked out in 20 years (.as there is absolutely no stripping required, the whole being payable wash-dirt from the surface, and there being no bush to contend with, the whole 843 acres being quue free from bush and heavy timber;, and allowing the wide margin of £14,000 a year for working expenses, the Company when in working order should earn at leas(;_£4o,ooo net a year.
THE BATON RIVER GOLDMINING COMPANY (Limited), is formed for , the purpose of acquiring and developing 843 aores of freehold auriferous land situated on the Baton River, Wangapeka Survey district, Nelson, N.Z., together with all water rights, titles, and leasements of the vendors. Mr Alexander Thomson, the former owner of the property, will have the right to occupy the homeßtead and home paddocks until March, 1890. but this wfll not interfere with the mining operations in any respect.
