MANAWATU RAILWAY.

Manawatu Herald, Volume XXIX, Issue 3777, 14 November 1907, Page 3

MANAWATU RAILWAY.

Some eighteen months ago the late Premier, MrSecldon, speaking at lyevin, quoted from the Act under which the railway was constructed to show that after twentyone years had elapsed from the opening of the railway for traffic, no added percentage had to be paid to the shareholders. Supposing the construction ol the line to have cost then the country would have to pay an additional by taking it before twentyone yearsihad elapsed. The railway was opened for traffic throughout its entire length in November, 1886, so that the period would expire in November, 1907. “If the Government desired to take over the line on completion of that period it would have to give notice in November next (1907). If it liked to give longer notice it could do so. They would understand, therefore, in view of the fact that the time was so nearly up, that to take the line before then would be making a present of £50,000 to the company.” Referring to a suggestion that Mr Hannay intended to go to England to arrange for the renewal of debentures, Mr Seddon stated that the debentures did not mature until June 1908, so there was ample time for the Government to give notice before then. Mr Seddon assured his audience that to the present Parliament, at any rate, would fall the duty of dealing with the acquisition of the line.

It will be observed that the Government has allowed the whole period to elapse before giving the required twelve months’ notice of intention to resume the line. The period expires this month.