THE SOUTHERN TRUNK RAILWAY.

Evening Star, Volume VIII, Issue 2499, 18 February 1871, Page 2

THE SOUTHERN TRUNK RAILWAY.

The correspondence on this subject was commenced by Mr De Carle. The. letters are too lengthy for publication in the Star. We therefore present our reader's with a digest of their contents : Nov. 20, 1870. —Mr De Carle proposed to construct a railway from Dunedin to Clutha for L 400.000, at 8 per cent, per annum on debentures. Term, fifteen or more years. The money to be deposited before debentures were issued.

December 7. —Mr Reid signified his willingness to negociato ; but asked names of principals as a condition. December S.—Mr De Carle objected to name principals without guarantee that the work would be carried out ; but would, if preferable, hand over L400,0U0 on issue of debentures by Government. December 9.—Mr Reid expressed willingness to accept offers on condition I.—That company be constituted and registered under Joint Stock Companies Act; 2. That LIO,OOO be deposited ; 3 Government to have power to purchase railway at not exceeding 1.400.000; 4. Conditions and aureement to be issued under signature of >uperintendeiit; 5. Reply to be made upon 15th. December 13.—Mir He Carle asked extension of time. December 14.—Mr Reid granted extension.

December 19. Mr "De Carle offered to construct reilway for 1400,000 ; Government to have power to purchase for that sum within sor 10 years; 8 per cent, interest to be guaranteed, or to let Government have L 400,000 on security by mortgage on pastoral rents. December 21.—Mr Reid declined proposal in that shape, but offered to undertake to take railway within five or ten years on payment of money actually expended, and to allow reasonable expenses of fprmiug company. December 23.—Mr Do Carle declines and asks reconsideration. December 29.—Mr Willis, Clerk Executive Council signifies adherence of Government to terms. December 30. —No importance, only excusing reply by Mr De Carlo through press of business. December 31. —Mr De Carle asks if advertisement by General Government for tenders is correct, and if it will prejudice negociati ms. January 5, 1871—Mr Reid intimates that the negociations would not be prejudiced, stating that if an offer were submitted in terms of letter of 21st December, it would be favorably considered. January 0 and 7. —Mr De Caile reports offer to construct work for 1400,000, but requires that while it shall be optional with promoters to sell before 10 years, Government must buy at end of term; promoters to construct line as they think proper, and Government to pay L 15,000 commission, independent of costs. January 13. —Mr De Carle telegraphs complaining of no reply, and referring to conversation with Reid and Gillies. January 14.—Gillies telegraphs, “See Duncan.” January 13.—Telegram by Mr De Carle, expressing wonder at no reply. January 17. —Letter from Mr De Carle to same effect.

January 18.—Clerk Executive Council replies that if Provincial Government were satisfied General Government would carry on work, they must decline offer ; but not being satisfied, they close with offer generally—guaga to be altered to 3ft. Gin. ; such Crown lauds as Gov rument empowered to deal with to be leased to Company ; Government to have right to purchase in five years, and Company to deposit LIO,OOO at once. January 19.—Mr De Carle accepts offer and asks for a draft of agreement. January 19.—Clerk Executive Council asks names of principals to insert in draft agreement. January 21. —Mr De Carle declines to give names of principals until agreement pre-

pared. January 25.—Clerk to Executive declines to prepare agreement until principals are declared.

January 25. —Mr De Carle offers to prepare draft of agreement if Government receive it without names of principals. January 30. —Clerk to Executive declines. February I. —Merely excusing delay by Mr De Carle.

February 2. —Mr De Carle declares principals Messrs M‘Neill, W. H. Reynolds, C. Stewart, W. Brunton, C.E., H. Driver, A, R. Ure, and J. Mitchell. February 3. —Clerk to Executive states initructious were given to Provincial Solicitor to prepare the deed. February B.—Mr De Carle presses for preparation of deed. February 9.—Mr Gillies, through the Provincial Solicitor, declines to hurry preparation on the eve of an election.

February 11.—Mr De Carle addresses Mr Reid, stating that unless deed is at once prepared his principals will withdraw from undertaking. February 11.—Mr Gillies repeats he will not hurry the matter on. "February ll.—Mr De Cajde explains charge by Mr Gillies of acting for Melbourne firm by saying money would come from Mel. bourne, but Company’s Act required not less than seven in J.S. Company.

February 14.—Letter acknowledged, February 16.- Company abandon the undertaking.