THE MANAWATU RAILWAY.

Taranaki Daily News, Volume LI, Issue 221, 11 September 1908, Page 4

THE MANAWATU RAILWAY.

STATEMENT BY THE PREMIER. "A GOOD INVESTMENT 1-011 THE COUNTRY." When the Manawatu Railway Bill was introduced on Tuesday, the Prime Minister (Sir Joseph Ward) -briefly explained its provisions. He stated that the £15,001) to be paid to the company for "iving possession on December Cth was calculated on the ordinary earnings «'X the company as between that date and February 28th, to which date the term of notice could have been extended. The payment of £IO,OOO was the estimate for the stores. The Government would take them at book value. The (iovermnent would thus pay £OOO,UOO for the railway, the rolling stuck, •anil everything but the private lands and monevs belonging to the shareholders; £15,000 for the right to take ov,lithe railwav on December 7th; £IO,OOO for the stores; and there would be somethin" under £OOOO to pay for dcWn-tiu-.es. lie thought that Uie terms oli the whole were very satisfactory from the point of view of the country. H was -a, verv good thing that they hail been able to avoid going to arbitration I or litigation, with possible reference to I the Privv Council, and all the attendant ' expenses". It would be a good investment for the country. The million sterling which was to be raised for the purchase would include the 'balance of about £70,000 over the payments already indicated. The balance would provide toi improvements oil the line, such as safely appliances, and would leave a margin for contingencies.