HONG KONG DAILY PRESS. MONDAY, AUGUST 30, 1937.
A copy of this Prospectus has been filed with the Registrar of Companies. Hong Kong, pursuant to Section 36 of the Hong Kong Companies. Ordinance, 1932.
Application will be made to the Committees of the Hong Kong and Manila Stock Exchanges for permission to deal in the shares of the Company.
The subscription list will be opened on the 25th day of August, 1937, and will, subject to the provisions of Section 41 of the Companies Ordinance, 1932, be closed at the discretion of the Directors,
Anglo-Chinese-Philippine Finance and Investment
Capital: Hong Kong $5,000,000
Divided into
50,000,000 shares of ten cents each
1ssue at Par 33,278,720 shares
payable in full on application
16.721,280 Shares of 10 cents tach will be issued to the Vendors or their nominees in full satisfaction of the purchase price for shares in the following mentioned Mining Companies:---
Balbalasang-Olymple Mining Co. Inc. Mambulau-Bulawan Gold Mining Co., Inc.
Insular Chromium Mining Corp. Inc.
Royal Goldfields Mining Corp. Inc.
Pilar Capiz Copper. Mines. Inc. Pampanga Gold Mines, Inc.
J.
DIRECTORS
· Magdaleno Canlas Peña (Uy Yet Building. Manila. Philippines), Pre- sident, General Manager and Director of Mining Companies. Andre Armand Charles Morant (National Bank Building, Hong Kong),
Principal Aero Trading Co.
Emilio Montilla (Oy Yet Building, Manila, Philippine Islands), Prest-
dent, General Manager and Director of Mining Companies. Joseph Mawlam Wong (David House, Hong Kong), Justice of the Peace.
Director of Luen Fook Hong, Ltd.
Simplicio Omañada Lindogan (Uy: Yet Bldg. Manila, Philippines).
Director and Assistant General Manager of Mining Companies. Chow Pui Wah (3, Des Voeux Road, Central, Hong Kong), Manager of
The Begay & Co.
Jean Guerineau (8, Felix Villas, "Hong Kong), Architect. Civil Engi-
neer; Principal, Lun: Sang & Co.
AUDITORS
Mesars. Thomson & Co.
Hongkong & Shanghal Bank Building
SOLICITORS"
Messrs. Geo. K. Hall Brutton & Co.
Bank of East Asia Building. Hong Kong.
BANKERS
Hongkong & Shanghai Banking Corporation, Hong Kong.
↑
REGISTERED OFFICE
Bank of East Asia Bullding. flth door, Hong Kong.
Objecta
The objects of the Company are as set forth in the Memorandum of Association, a copy of which is set out in this Prospectus, and especially to acquire shares in and render financial aid to companies which own operate
or
concerns
control or Anance mines or mining enterprises in the Philppines or elsewhere.
Pampanga Gold Mines, Inc.
All the above Companies are re- gistered at the Mercantile Regis ter. Bureau of Commerce, Manila.
Vendor's
The Vendors from whom the Company will acquire shares in the said Mining Companies, are Magdaleno C. Peña, Emillo Mon- tilla and Simplicio O. Lindogan all of whom are Directors of this Company as well as in the said Mining Companies. They are un- der contract to sell the shares set out in the third column of the Schedule immediately following this paragraph and to transfer the same to this Company as soon as It is entitled to commence business. Mambulao-Bulawan Gold Mining The purchase price, which is the
Co., Inc.
amount set out in the Afth column Insular Chromium Mining Cor- in each case, is to be wholly satis-
The Companies to which this Company will render immediate financial assistance and in which this Company will acquire shares are as follows, and are hereinafter collectively referred to as "the said Mining Companies":
Balbalasang-Olymple Mining Co..
Inc.
poration, Inc.
Royal Goldfields Mining Cor- .poration, Inc.
Pilar-Capiz Copper Mines Inc.'
Companies. Authorised
hed by the allotment to the Ven- dors of 10.721,280 shares in the
·Company of 10 cents each credited as fully paid up.
Number of
l'ar value P.J.
Vendor's
Capital.
Kalbataxang
ΑΝΩΤΑΤΟ be plu
P2,000,000 30,000,000
Olympic Mining
Co. Inc.
Mambulan Bulawat P500,000
Gold Mining Co. Inc.
7,500,000
Insular Chromium P1,000,000 15,000,000 -
Considera.
tion in Name H.K. Dollars of Currency payable to Vendor
Vendors.
P300,000 $491,603 Magdaleno
C. Pena
P-75.00 $122,950, Simplicio Q.
Lindogan
Magdaleno
P150,000 $15,90)
Mining Corp. Ino.
Royal Goldfields Mining Corp. Inc.
P300,000 1,500,000
P1,000,000
2,250,000
C. Pena
P 45,000 $ 73,770 Magdalenu
C. Pens 1225,000 $38,852 Emilio
Montilla P223,000 $368,85% Emilio
Montilla
Pilar-Capiz Copper P1,500,000 2,250,00
fines Inc. Pampanga Gold
Inc.
Total.....
81,500,000
-$1,020,000 $1,672,129
Mining Companies coples of which reports are set out hereinafter.
It will be noted that, in the case of each of the said Mining Companies, this Compary will ac-
Method of Operation quire 15 per cent of the authorised
So far as the said Mining Com- or nominal capital which is the panles. or any other mining com- maximum holding permitted underpanies in the Philippines are con- Philippine Law for any individual cerned, all operations by this Com
Corporation, Limited.
(Incorporated under the Hong Kong Companies Ordinance, 1932), -
according to Philippine Law foreign Corporation is not allowed to exercise control over any min- ing operations or enterprises in the Philippines.
One of the Directors of this Company and a consulting Mining Engineer, in the full time direct employment of this Company, will be permanently attached to the representative organization Manila.
in
Royal Goldfields Mining Corporation, Inc.
65,000
This
Total required $100,000. Main requirements—purchase of machin- ery-mining equipment as follows: Improvement of transporta-
tion facilities
$10,000 Mining equipment and ma-
chinery Labour, staff, technicians for
6 months and general overhead expenses ...... 25,000 Pilar-Caply Copper Mines, Inc. Profit Sharing
Total required $300,000. Although no definite terms can Company is already in condition be fixed in advance, the Directors of extensive production. Main intend that financial assistance requirement Is 1 concentrating will be afforded to a Mining Com- | plant. pany or concern only, on special Balance payable for equip- secured conditions, one of whlen
ment and supplies now would be a preferential right to being used........................ "share in any profits made by that Initial payments on con-
company or concern whilst any centrating plant part of the loan 13 outstanding. Improvement of transporta- The profit sharing scale which the
tion, labour, salaries, tech- Directors intend to apply. kit nical staff and general which is adjustable according to overhead expenses for 3 special circumstances in each case months is as follows.--.
New Mining Equipment .....
Contract
Where at any time in the course of an annual accounting period. in which profits have been earned, the maximum amount outstanding. on loans made by this Company is Less than $400,000,
of the gross profits* $400,000 or more but less than
H.K. $700,000
35%
-40%
of the gross profits* 5700.000 or more but less than
H.K. $1,000,000
40%
of the gross profits* $1,000,000 or more but less
than H.K. $1,300,000
45°
of the gross profits" $1,300,000 or more but less
than HK. $1,600,000
45%
of the gross profits*
$1,600.000 or over
50%
of the gross profits* -Production revenue loss produc-
tion costs.
It is emphasised however that, although the loan agreements will be made directly between the Manila organization and the bor-
will be made by this Company rowers in each case, no advances
unless its own position has been fully secured in advance.
Minimum Subscription The minimum amount which, in the opinion of the Directors, must be raised out, of the proceeds of this issue is $590,000 which will make provision for the following matters:-
Statutory Information
Area:
The entire
It the appearance of a quartz 'vein."
The Articles of Association of
property of the The last portion of the outcrops examined are made up of a dark. the Company contain provisions to Balbalasang-Olympic Mining Co..
Inc.. consisting of 180 full lode One-grain quartz-diorite which the following effect:
claims covers RD
was intruded after rhyolite por area of 1,620 hectarea.
phory.
1. The qualification of every Dhector shall be the holding in his own right of 10,000 shares in the Company. A director may act be- fore acquiring his qualification.
2. The Directors shall be paid by way of remuneration for their services the sum of $3,000 per an- num in respect of each Director or such sum as the Company in General Meeting may from time to time determine and such re- muneration shall be deemed to accrue de die in diem and, shall be payable by half yearly instal-
$100,000.ments.
100,000
50,000 50.000
The following contract has been entered into by the Company. namely:-Contract dated the 28th day of July. 1937, and made be- tween Magdaleno C. Peña, Emilio Montilla and Simplicio O. Lindogan of the one part and. Amado B. Gullaran on behalf of the Com-
3. The Directors may from time to time appoint one or more of their body to be Managing Direc=" tor or Managing Directors of the Company either for a fixed time or without any Emitation as to the period for which he or they is or are to hold office and may from time to time relieve or dismiss him or them from office and appoint another in his or their place or places.
4.
o!
a
The remuneration
Directors shall from time to time Managing Director or Managing
be fixed by the Directors and may
pany of the other part, being a be by way of salary or commis- contract for the sale and purchasesion, or participation in profits, or of the above mining shares in the by all or any of those modes. said mining companies for the consideration set out.
This contract can be inspected at the offices of the Company's Solicitors, namely. Geo. K. Hall Brutton & Co. at any time between the hours of 10 am.. to 1 p.m. and 2.30 p.m. do 4.30 p.m.
entered into.
No other contracts have been
•
Promoters
Applications for Shares
"
T
Developments:
. There were already several tun- nels driven through the property. Houses for labourers in the mines bare
already been constructed. Roads have been bull and are now under completion.
Ore Reserve:
Assay
Assay of samples taken from the; property showed gold contents, everaging $2.40 (old price of gold) or P8.16 (new price). Ore. Beserven
This property if properly mined ore and developed would give reserves calculated to be not less
Summary of Operations, Coit and Tatal ore reserve.... 1,000,000 tons
Profit:
Total values of `ore
The entire property of the Bal-than 1,000,000 tons. balasang-Olymple, Mining Co., 13 so extensive (1,620 hectares) that if properly mined, and developed, the probable ore that the mines contain would not be less than 5,000,000 tons. Away Results:
Assay of samples taken from the property showed averaging $2.40 (old price of gold) gold contents
or P6.18 (new price of gold) per
ton.
Summary of Operations, Cost and
Profit:
"Applications for shares must be made on the accompanying form " and forwarded with the amount Payable on application to the Hong Kong & Shanghai, Banking Cor- poration, Hong Kong.
Where no allotment is made the amount paid on application will be
number of shares allotted in less returned in full and where the than the number applied for, the excess of such amount will be refunded.
REPORTS ON MINING
..PROPERTIES
The said Magdaleno C. Peña: Emilio Montilla and Simplicio O. Lindogan, A. A. C. Morant, Joseph
Guerineau all Directors of this M. Wong, Chow Pul Wah and J. Company are interested as Promo Prospectuses and forms of ap- ters of the Company, and a sumplication can be obtained At the representing 5 per cent of all cash office of the Company or from the received for subscriptions for Solicitors or the Auditors or the shares in the Company is to be Bankers of the Company. puld by the Company to the said Promoters to be divided amongst them in equal shares and will be accepted by them in full satisfac- (a) The purchase price of the tion for their services in the pro-
said shares in the satd Commotion of the Company and as panies, all, the consideration", stated the sald Magdaleno C. therefor being satisfied in full Pena, Emilio Montilla and Bimpl- by the allotment of shares in clo O. Lindogan are also interested the Company.
In the promotion of the Company (b) Preliminary expenses $ 30,000 as Vendors of the mining shares (c) Working Capital ...... $500,000 set out above... (d) 5% commission payable to persons in consideration of their undertaking or procur-
J
►
Preliminary Expenses The preliminary expenses in ing or agreeing to procure cluding fees and stamp duties are subscriptions for shares in estimated at 830,000 exclusive of
Company and which brokerage: shares shall have been duly allotted-$23,500.
the
(e) 5% commission as Promoters' feet on minimum subscription at the agreed rate of 5%-- $29,500.
(f) -No amounts are to be provided in respect of the matters aforesaid other than out of the proceeds of this issue..
Working Capital
This has been fixed in accordance with preliminary indications re- ceived from certain of the Mining Companies, of the amounts which they will apply for as loans, to cuini urgent requirements in con- nection with further construction and development.
Although this Company has made no definite promises or been committed in any way to recognise the extent of the requirements in any case, it will, after further in- vestigation, be prepared to give immediate financial assistance to
the applicant companies roughly on the following lines:---
Insular Chromium Mining Corporation, Inc. Total required $100,000 Estimat,
or corporation whether domestic pany will be conducted through ed to cover expenses of operation a representative organization in for a period of 3 months which it
or allen.
As stated above, three of the Manila over whom the Directors is claimed will, place, the mine on Directors of this Company, name will in all matters in which this producing basis and to be dividen ly, Magdaleno C. Peña, Emilio Company is interested, retain and as follows:--
Improvement of transporta- Montilla and Simplicio O. Lindo-exercise the fullest possible con-
tion facilities inigus ..$25,000 gan are also Directors, in the said trol Mining
they Companies and
have procured reports from a
Mr. B. A. Shpilevarý on the various enterprises operated by the said
Philippine Law
Building: pier Mining Equipment Labour
25,000
... 25,000 15,000
This method of operation is ren-staff, technical staff and dered necessary by the fact that general overhead expenses 10,000
Vendors
The raines and addresses of the vendors of the said shares are as
follows:-2
Magdaleno C. Peña-Uy Yet Building. Manila, Philippines.
Emilio Montilla-Uy Yet Build Ing. Manila, Philippines,
Simplelo O. Lindogan-Uy Yet Building, Manila, Philippines.
Commission
The rate of commission payable for agreeing to subscribe or procur- ing or agreeing to procure sub- scriptions for shares in the Com- pany and which shares shall have been duly allotted la 5 per cent.
Auditors Report
The Directors,...
Hong Kong, 15th August, 1937.
Angio-Chinese-Philippine
Finance and Investment Corporation Limited.
Gentlemen,
The following are true copies of reports furnished to the Directors at their request:—-—-—-—-`
The Balbalasang-Olympic Mining Co. Inc.
Location and Accesibility:
The mining property of the Balbalasang-Olympic Mining Co., Inc., consists of 180 claims known aa Pamosiion, the Tapao and the Balbalasang Groups and located in the Municipality of Balbalasang, Sub-province of Kalinga, Moun- tain Province, Philippines. The property is bounded on the West, North and East by the Mountain Province-Abra interprovincial Road and on the Bouth by the claims of the "Balatac-Kalinga Mining Co. It can be reached by a second class road from the City of Bontoc to the Barrio of Salicseg, a dis- tance of 75 kilometers, and from
20-kilometer road
here
Total ore reserve Total value of oré
5,000,000 tons
at P8.16 per tan P 40,800,000.00 Operating cost for mining and
at P3.40
milling 5,000,000 tons per top
Total operating profit excluding
P 17,000,000.00
shipping charges P 23,800,000.00
or H.K.
$30,016,393.44
at P9.18 per ton. P 8,180,000.00 Total operating cost. for mining and milling 1,000,000 tons at P3.40 per toa.
P 3,400,000.00
Total operating prodt excluding shipping charges P 4.750,000.00 or HK. $7,803,278.68
Manila, Philippines. June 14th, 1937.
(8d.) B. A. SHFILEVSKY, Mining Engineer and Consulting Geologist. Subscribed before me this 14th day of June, 1937, in the City of Manila, Philippines.
(Sd.) A. B. GUILARAN,
Notary Public,
My commission expires on December 31st, 1938.
Manila, Philippines, June 11th, 1937. Doc. No. 308 Page No. 72.
Book L Series of 1937. (Sd.) B. A. SHPILEVSKÝ,
►
- Mining Engineer and Consulting Geologist. Subscribed before me this 11th
Manila, Philippines. day of June, 1937, in the City of
(sd.) A. B. GUILARAN. "Notary Public.
Doe. No. 303. Page No. 71. Book, I. Series of 1937.
- Mambulao-Bulawan Gold Mining
"Co., Inc.
ון
Location and Accessibility:
The property of the Mambulso- Bulawan Gold Mining Co., Inc... known as Robles Group consists of 17 full lode claims, located 35 kilometers from the Municipality o! Paracale, Camarines Norte, Philippines, the second famous gold region of the Iolanda. This group of claims is just 6 kilometers south of the town of Mambulao. The property can be reached on a second class road known as Labo- Daguit Highway and from this a trail opens to the claims just about 4 kilometers from the main high-
#3.7.
Insular Chromium Mining Corporation
(Zocation and Accessibility:
The Insular Chromlum Mining Corporation owns two large groups of full lodes chromite property located in Botolan and Ban An- tonio, Zambales. The first group consists of forty (40) lode mining claims located in the sitio of Nelic- ban, barrio of Calibungan, Muni- cipality of Botolan, and is" about six kilotaeters (48 miles) from the provincial highway. The second group consists of twenty-four lode mixing claims located in the altio of Pundaquit, barrio of Nagsasa. of San Antonio and is about a kilometer (8 mile) from the narig able Nagsasa Bay. Area:
The entire property of sixty-four- (64) lode mining claims covers an area of 576 hectares (1,140 acres). Geology:
The two properties of the In- suiar Chromium Mining Corpora tion are bath located in the zich chromite regions of the mountain range which runs from North to South in the province of Zambales. The formation is intrusion. Ser- graphically suited to adit openings mite, and chromite floates are very The claims in general are topo- ! pentine rocks incrusted with chro-
Topography:
.
thereby eliminating the costs of much in evidence all over the pro- deep shaft sinking for mining pur-perties. poses, the succession of ridges and
Ore bodies have been formed by rolling hills on which these claims igneous magmas in irregular ahap- are located gives three excellent, ed pockets and fissures. Serpen- mill sites. The land is thickly tire which is closely associated wooded with narra
and lawan with chromite, overlays the chro trees, providing an abundance of now
mining timber, while the waters of two large streams flowing through these claims would give 2 Actual development work in the sufficiency of water for mining and properties started in October, 1938. milling purposes
dry The work from October, 1936, to
under construction opens to the Groups proper.
Topography and Geology:
-season.
even
[I].
The property is drained by the Saltan River, the Tapao River and the Magpa River, which have their | Area: origin on the claims. The tribu The property of the Mambulao
taries of these three rivers are in- terpersed over the property, thus | assuring a good water supply both in rainy and dry seasons. The en- tire property is very thickly wood- ed with high grade pine and oak
Bulawan Gold Mining Co., Inc., covers 17 full lode claims contain- ing an area of 163 hectares.
Development:
mite deposits.
Development:
February, 1937; "was concentrated to prospecting, building staff and labourers' quarters, road building, and running open-cuta. Driving tunnels, drifts, and cross cuts, and blocking out of ores started during the latter part of March, 1937,
The buildings already up and also under construction are:- f
1--bodega and 2-car garage by provincial road in Bucao,
explosive at the mines.
Developments on the property In 'compliance with the provi-which can be used to advantage have already been started AT stons of Hong Kong Companies for mining and milling purposes, present there are Ave (5) houses 1. Ordinance. 1932, Fourth Schedule,
From all geological standpoint for labourer's quarters. Five kilo- 2. 1 burglar proof magazine for Part II; we hereby certify that as the property is highly mineralized meters of trail have already been the Company was incorporated on The country rock is generally of
blazed through the property. Two the 9th day of August, 1937, only. andesite and diorite and most of
tunnels and nine dogholes, have no accounts have yet been made up and no dividends have yet been -paid
Yours faithfully,
THOMSON & CO... Chartered Accountants,
Auditóra.
the stringers found were of white been made. Beveral veins have
quartz - heavily encrusted with
already been exposed where sam-
pyrite. Among the lodes or veins ples have been taken and assayed.
found the Bonanza Lode appears Geology': more interesting. This lode was originally a fault zone which has been mineralized by the ascending thermal waters, which has de- posited" much metallic gold.
8. 1-hospital.
1-power house.
5. 1-administration · building,
66-temporary building for stat
and labourers' quarters." A dam for water, reservíar is un- der construction and is halfway
The North-eastern ridge of the Robles claims is made up of a finished. rhyolite porphory which has weathered to a light colour rock which later silification has given-
(Continued on Page 11)