THE MIDLAND RAILWAY.

Temuka Leader, Issue 1643, 6 October 1887, Page 2

THE MIDLAND RAILWAY.

Wellington, October 3. A correspondent of the Press says ; I am in a position to state that the following are the fresh terms required by the Midland Railway Company. My information has been obtained from an indubitable source 'They are willing to proceed with the line as originally proposed, if, in addition to the concessions "alreody authorised by law, the New Zealand Government will at once place them in possession of the area of land to which they would ultimately br entitled in respect of the £250,000 already spent or contracted to be spent. They want this in order to be able to raise funds on the mortgage of the land for the further prosecution of the work. When it comes to be a question of raia ing money on l«nd, the lenders naturally enquire rather anxiously whether there it anything on the land or not. As it happens, the value of the land conceded, or to be conceded to the Midland Railway Company, is an unknown quantity, What the synHcate ask, therefore, as a condition of their signing the contract and going on wi:h the railway, is that the New ZeW Zealand Government wi I guarantee the valuation ; so that, upon the land b-ing sold, ty recoup the money | borrowed upon i', if it shou d realise j less than the va’oa'ion, I