Page 3 Advertisements Column 2

Globe, Volume XXII, Issue 2038, 4 September 1880, Page 3

PROSPECTUS 8 iJUMNEE OP THE Railway (Limited). To be Registered under The Joint Stock Companies’ Act, 1860, and the amendments thereof. CAPITAL - - £15.000, In 6000 Shares of £2 10s each. PROPOSED CALLS. Five shillings per share on application, 5s on allotment, 5s in not less than six months from date of allotment, and the balance by calls not exceeding 5s each, at intervals of not leas than three months, but not more than 10s to b« called up in any one year after the first year. PROVISIONAL DIRECTORS : Messrs H. Allan Scott (chairman) E. M. Morten Wm. Langdown .1. Stanley Moncb Wm. White Samuel Manning C. W. Duckworth Wm. Wilson A. G. Watson E. J. T. Ford Messrs Edward Wakefield, M.H.E. W. W. Cobb R. H. Banks ■Tames W. Morton A. J. White I A. Appleby C. L. Wiggins J. A. Graham I E. C. Mooldey BANKERS. The Union Bank of Australia Limited. SOLICITORS. Messrs Harper, Harper and Scott. INTERIM SECRETARY. Mr E. J. T. Ford.

It is proposed to f jrm the Company for the purpose of constructing and maintaining a Bailway, under the District Railways Act, 1877, and Amendment Act. 187 S. from the Ferrymead. Wharf to the town of Sumner. The length of line to be constructed will be about 3V miles ; there are no engineering difficulties to contend with, and it is estimated by competent engineers, after careful preliminary surveys, that the cost of the line will be from •£BOOO to £ 10,000, inclusive of engineering and other expenses, and acquirement of the very small extent of land necessary—the present state of the labor market offering an unusually favorable opportunity for constructing the line at a. minimum cost. The Government having undertaken to re-lay the permanent wiy upon the old br»nch line to the Fcrrymead Wharf, to provide all necessary rolling stock, and to work the line when completed, shareholders will not be called upon to supply capital for the purchase of rolling stock, and by this arrangement the working expenses and the expenses of management will be much less than if the line were worked by the Company. Notwithstanding the tedionsness and uncertainty inseparable from the present mode of transit, it has been estimated by several independent authorities that as many as 60,000 passengers travel between Christchurch and Sumner annually ; and it is well known that many persons who, from choice cr considerations of health, would reside at Sumner, are deterred from so doing by the loss of time entailed by the coach journey. It may therefore be confidently expected that a very large increase in the passenger traffic would be immediately developed by the opening of a Eailway, which would afford a comfortable, speedy, and certain mode of conveyance. In addition, there is every probability that a considerable coastal trade in coal, building materials, firewood, limestone, &c., to be conveyed on the line, would be developed, which may be sa'ely relied upon to produce a large and regular traffic, whilot stone* for buildicg and road making purposes is available in large quantities along the line. A cartful estimate of tne probable receipts and expenditure, in respect of the portion to be constructed by the Company, for the first year after the opening of the l ine, has been made as follows, reckoning the full return fare between Christchurch and Sumner to average only Is 6d:— EXCKIPTS. 60,000 passengers, at 9d each £2250 Goods and mineral traffic ... 500

.£2750 EXPENDITtTEE. Cost of working the above traffic ... ... ... £31200 Maintenance ... ... ... 300 Management and contingencies ... 500 Difference, being profit for the first year £3750 Equal to a dividend of 71- per cent, on a capital of .£IO,OOO. With return fares at so low a rate as Is fid (instead of 2s fid, the present fare by coach) the passenger traffic would enormously increase even during the first season after opening the lino, and, as the additional working expenses would be trifling, the proportion of profits would be greatly augmented. Indeed, several competent authorities have stated that the Company may be expected before long to return a profit of 15 or 20 per cent, per annum. The Railway Commissioners in recommending the construction of this line report that, “ when completed, it will bring in handsome profits.” The Provisional Directors, in offering the shares of this Company, can, moreover, commend it to the attention of capitalists, and investors generally, as a thoroughly safe investment, as, by the District Railway acts, interest at tte rate of 7 per cent, per annum for a period of fifteen years is guaranteed by Government on the actual cost of the Railway to the shareholders of a Company complying with the provisions of the Acta.

The proposal has the further recommendation that the railway will be a great public convenience to the inhabitants of Christchurch, Sydenham, and the surrounding neighborhood, by affording an easy and certain means of conveyance to their favorite watering place without unnecessary loss of valuable time. It is admitted on all hands that such a cheap and ready means of obtaining change of air is urgently needed, and that the facilities of rapid transit would be taken advantage of to a very considerable extent. If hereafter thought desirable, the Company could, at a comparatively small cost, arrange to supply the township with water, which would materially augment the profits of the undertaking. and encourage further settlement at Sumner. It ia not anticipated that shareholders will be called upon to pay up more than 20s per share during the first year, the Directors being able tomake arrangements hy which the Bank will advance the necessary capital, to be repaid by instalments extending over a term of years. Applications for shares, to be accompanied by a deposit of 5s per share —a further sum of 5s per share being payable upon allotment —will be received by the Union Bank of Australia Limited, Christchurch. Copies of the prospectus and application forms can bo obtained by applying at the offices, Hereford street, Christchurch. EDWD. J. T. FORD. Interim Secretary - September 3rd, ISSO. 9-4 5574 THE “ILLUSTRATED PEESS” MONTHLY SUMMARY FOB TRANSMISSION TO EUROPE, VIA SAN PEANCISCO, WILL BE PUBLISHED ON TUESDAY, SEPTEMBEE 7th. AND WILL CONTAIN THE FOLLOWING ENGRAVINGS

1. Sir Arthur Hamilton Gordon, K.C.M.G. Governor of New Zealand. 2. The Greer Tragedy—Scene in the Opera House, Melbourne. 3. Stephen Hart4. The Kellys—The Embankment where the Police Train was to have been wrecked. 5. Jones’ Hotel after the fire. fi. Bird’s-Eye View of Glenrowan. 7. His Honor Mr Justice Higinbotham. 8. The Victorian Waterloo Cup—Springwater and Bashful Maid, the winner and runnerup. 9. The General Elections in Victoria : Bush Politicians 4.55 p m. —A Kace for the Poll. Collins street on the Night of the E lections Electioneering in South Gippsland The Chinese Vote—A Question of Identification. 10. Mrs Greer, Mr Greer, M. Sondry, Sergeant Steele, Superintendent Nicolson, Senior Constable Kelly, AND ALL THE NEWS OF THE MONTH. PRICE SIXPENCE.