Wellington – Manawatu Bailway

Feilding Star, Volume V, Issue 37, 29 March 1884, Page 2

Wellington - Manawatu Bailway

The following is the report of the Directors of the Wellington and/ Manawatu Railway Company, to be presented at the third annual meeting, to be' held in the hall ef the Chamber of Commerce, on the 2nd April next, at noon' I:—The1 :— The

statement of receipts, expenditure,, and balance-sheet of the past year now presented by your directors it of a character to justify confidence and satisfaction. The successful and favorable floating of the company's loan in London has enabled jour directors to push forward the railway works, and it is gratifying thai, the efficient service of their staff has produced results far beyond the most sanguine expectations. Since last meeting 60 miles of line hare been let, and the contractors have made sneb good progress with the works that without doubt the six mile* between Wellington and Johnaonville may be opened for traffic in Sept. next. The contracts wbieb have been let, amounting to £232,281, cover all the difficult and expensive part of the line, with the exception of five miles now advertised. Your directors have secured in London all the necessary: equipment for your rai way on very advantageous terms, both for original cost and freight. Already 1500 tons of steeltmils ana*'fastenings hare been landed, and the balance will follow asrequired. To thearea of freehold lands 8,000 acres of a superior class hare been added during the year. Contracts have been made for the surrey of the allocated and purchased land of the company, between the Gore and Horowhenua Block, into agricultural and pastoral sections and townships with main and district road?* One township ha i been laid out and named Linton. Sites for other townships have also: been selected. It will also be necessary to appoint two directors. Messrs James Bull and Charles Johnston, M.HJt., the [retiring directors, are eligible for re--1 election, and offer themselves. It will also be necessary to appoint two auditors and fix their remuneration. ' Messrs T. Kennedy Macdonald; and J. W. Stevenson, the present auditors, have intimated tbeir intention of again' seeking office." The appended balance-sheet sh6ws among the expenditure the following items : — Cost of railway and permanent way, £86,504 3s lOd ; payment Agent-General account railway material £10,0)6; loan debenture charges, preliminary expenses, and London commission re shares, £15,102 10s; freehold lands, £10,624 Us 10d ; directors* fees (including London secretary's salary and enarges), £2,033 2s.— Post.