THE WAIMEA PLAINS LINE.
_ | IBx Telegraph.] Wellington, Oct. 22. Fiom a return presented to the House this afternoon it is ascertained that the "Waimea Plains Railway Company levied the rate of three and fourpence in the pound upon land within the Waimea Plains Bailway District upon the following calculations :— The cost of the railway was L 109,7 13, the interest to which the company are entitled is 7 per cent, on the cost per annum or L 7670, but as the company made a net profit of L 964 during the year ended March 31, 1883, the deficiency was provided for as follows, viz. : — Government paid two sevenths of the deficiency, or L 1899, and the ratepapers are to pay live sevenths of the deficiency, or L 4746. The company received an authority from the Minister of Public Works authorising them to levy rates f®r the amount to be paid by the ratepayers as above, namely, L 4746. The rateable rental value of the railway district being L18,4G9, the company levied a rate of three and fourpence in the pound on this rateahle value, and the rate thus made will produce L 4744.
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Bibliographic details
Mataura Ensign, Volume 7, Issue 403, 24 October 1884, Page 2
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193THE WAIMEA PLAINS LINE. Mataura Ensign, Volume 7, Issue 403, 24 October 1884, Page 2
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