The Sun.
London, England, 1862-02-21 00:00:00

Meet.

Thu object of this Company is— to purchase and work the
Gold Mines of Erucutu, in the Broods, of which the late
Marquis do flarbacena was the ptoprietor.
The estate is freehold) situate in the centre of a populous
district, near the towns of St. Barbara, St. Sohn do Morro
Grande, St. Clonsalo and Cocaes, in the province of Minas
Geraef!) litar the mines of the St. Sohn del Rey Company, so
long celebrated for their immense returns of gold, and the
large dividends aberuing toits shareholders. The produce of
these mitres, for the year ending Mareh last, yielded a nett
profit of £60,400, Leing about 40 per cent. upon the Com-
pany's paid up capital ; and the returns since that period
show even a much larger profit. The estimated value of
the propetly of that Company, measured by its revenue, is
£400,000; the shares, upon which £l5 each has been paid,
bear a premium of 6'oo per cent., and £508,750 have already
been paid in dividends.
The property of this Company is about 7 miles long by
three miles broad ; within which area it contains the fol-
lowing ascertained sources of auriferous wealth :
Captain William Treloar says :
The Brucutu formation, in which "two rich groups of
shoots of gold have been found, which below water level
are entire."

Estiva bP Gongo formation, which "presents all the
characteristics of containing good deposits of gold—many
of my samples produce most encouraging proofs of this."
Cocaes formation, " entire throughout the length and
breadth of the estate. The outcrop of it is just below the
water shed line of the mountain."

Jacotinga formation, about 5,000 fathoms in extent ; " the
Jacotinga formation of Gongo Soco, St. Miguel, and Cocaes
arc embedded in the same range of ironstone, Widening
westward, and converging to almost a point eastward,
thereby presenting a figure analagous to a chain of wedges.
This geological fact is a very desirable feature, for the
greatest deposits of gold have been found near the points of
convergence."
" Seeing that the property possesses these favourable
features ; seeing that, in the extent opened in the Brucutu
formation, two rich groups of shoots of gold have been
found, which below water level are entire; seeing that the
Estiva formation is in a virgin state throughout the Bru-
cutu property, having one known shoot of gold dipping
into it from the property adjoining ; seeing that all the
valleys and ravines about the formation have afforded rich
washings ; and seeing, moreover, the great advantages for
draining and washing the formations, I cannot but be of
opinion that the estate presents mining properties of no
common order, and that it is well worthy the attention of
any respectable mining company."
The preceding quotations are from the report of Captain
William Treloar, upon whose judgment implicit reliance
can be placed, from the fact that he has not only had
several years' experience in the service of the St. John del
Rey Company, but that he has been selected to return to
Brasil as chief engineer for the East del Rey Mining Com-
pany. That report has also fully confirmed the reports of
Mr. Halfeld and Capt. Joel Hitchens, extracts of which are
given below, and copies of all of which, with others, may
be seen at the offices of at Company.
Besides its great mineral wealth, the Company will possess
abundance of tinber for all purposes, a plentiful supply of
water, rich and extensive land for agricultural produce, and
buildings already erected for the accommodation of the
Company's mining establishment, European and native.
The estate presents also every facility for mining operations;
and the completion of the adit, a work of about six months,
commenced in the best situation that could be selected, will
prevent the necessity of pumping machinery.
The agreement for the purchase of the property has been
effected upon the following unusually favourable terms :
The Company, upon taking legal possession, to pay down
£3,000 for the plant, stamping machinery, mining build-
ings, and houses for the residence of the Manager and
mining staff. £B,OOO in shares of the Company; and the
owners, having every confidence in the success of the
undertaking, have agreed to take this amount in 16,000
shares with 10s. paid, thereby rendering themselves equally
liable with th 3 shareholders to any calls beyond the 10s.
per share ; while the remainder of the purchase money, viz.,
£l3 000, will eat be paid until the shareholders lave re-.
ceived a divideticl-Of 10 per cent, on the paid-up capital.
The Company will thus acquire a most valuable property
by a small preliminary payment; which amount, with the
outlay requisite to bring the Mines into profitable work,
will, it is estimated, be covered by considerably less than
one-half of the capital, leaving an ample residue to extend
the works already in progress to virgin mining ground in
other parts of the estate.
The works already commenced, which can be made pro-
fitably productive in a few months, will be resumed without
any delay. A competent and experienced mining staff will
be despatched to Brazil as soon as an adequate capital has
been subscribed.
Taking into consideration the unusually favourable terms
(compared with other similar undertakings in the country),
upon which this Company obtains so important a property,
and the nature of the reports, which those best qualified to
judge have given upon it, there can be no doubt but that a
very speedy and satisfactory result will be obtained.
Prospectuses and forms of application may be obtained of
the brokers, or of the solicitors, or at the temporary offices
of the Company. The deposit of ss. upon each share ap-
plied for must be paid to the Company's bankers previously
to the application being sent in ; this sum will be returned
in full if two-thirds of the shares are not applied for, or if
no allotment is made to the applicant.

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