Page 3 Advertisements Column 5

Thames Star, Volume XII, Issue 4016, 11 November 1881, Page 3

Prospectus mHAMES VALUCY AND BOTO. 1 BIT A RAILWAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 fhakes of £1 each. provisional dlbectoes : IFon Jumps Williamson, Chairman. J. L. Campbell, Esq., M.D. F. D. Rich, Esq. Win. Crush Daldy, Esq. E. F. Roche, Esq. Jas. McCosh Clark, Esq. Thoe. Peacock, Esq. Robert Graham, Esq. B. B. Walker, Esq. James Dilwortb, Esq. Wm. Aitken, Esq. George Holdship, Esq. Nga Huruhuru Joseph Howurd, Esq. Petera Pukuatua Jobn Wileon, Esq. Henere Pukuatua Thos. Morrin, Esq. Rotobiko Haupapa Wm.lnneßTiiylor.Esq. W. Maibi To Rangr kaheke C. J. Stone, Esq. Arekatera Te Wera A.W.F.Haleombe,Esq.EraPaiinoi "" Bawkees: Bunk of New Zealand. Solicitors : Meesrs Jackson and Russell, Fort street, Auckland. Engineer : J. Stewart, Esq., M. Inefc. C.E , late District Engineer. Interim Secretary : Jas. Stewart, Esq , C.E. The proposed railway will be about seventyfour mileß in length, and commences at a point on the Hamilton-Thames Railway, near the town of Morririsville. From this point it runs southward through the centre of the great valley of the Upper Thames, by a very easy route, for a distance of thirty five miles ; it then mounts to the wooded plateau which divides the Upper Thames and Taurang* districts; from this it descends, by an easy route to its terminus at the town of Ohinemutu, making a farther distance of .thirtynine miles. This completes an unbroken chain of railway communication between the city of Auckland and the Hot Lake disvrict, which is the central point of attraction for tourists to New Zealuhd.

The cost of the 'ice has been estimated — nfter exploration—by Jas. Stewart, Esq , late District Engineer, to be £2000 per mile for the first section of thirty-five miles ; of the remainder, twontyfour miles will cost £3000 per mile, and the remaining fifteen miles, about £4500 per mile; making a total cost for construction (of the class of the Government railways, and exclusive of rolling stock 1* of £209,500. The cost of buildings and rolling* stock is estimated at £38,000, making a total cost of £247,500. It is proposed to construct the Railway in two sections; Ihe first section of thirty-eight miles under the provisions of " The District Railway* Act, 1877," by which, on approval by the Government, the Colonial revenue is security for interest on the cost of construction and equipment, not exceeding 2 per cent,., and the neighbouring lands (rated in proportion to the benrfits derivable from the construction of the line) are liable for interest not exceeding a further five per cent., thus giving a certain interest of 7 per cent, on the investment, even if the line itself only pays working expenses. The majority of lsmd holders abutting on Uiib section have expreßfed tbeir willingness that their properties shall be brought under the operation of " The Dietrict Railways Act, and the Amendment Act, 1878." For the construction of the second section, passing, as it does mainly through native lands, w> ich it. is not possible to bring under " Tbe District Railways Acts," it is proposed to work; if possible, under the " ll'iilways Construction and Land Act, 1881." By this Act, the Colonial Government is empowered to contract with a Company for the construction of this Bailway, among otbere, and to grant such lands as are available as an endowment. In this case only 28,000 acres are available, situated in the Patetere Country. This would not be a sufficient endowment, without rating powers, to warrant the construction of this section of the line, but the native proprif tors have, in addition, agreed to give a considerable area of )ai?d to the Company. It is also proposed that the Company should acquire, by purchase, a further portion of native lands adjacent to the line, which may be expected to be largely inceased in value by it 3 construction ; and with this view, the Capital of the Company ban been fixed at a sum sufficient to include such purchases. By thin means, it is hoped the construction of the second section may be undertaken almost simultaneously with the.first.

The prospects of immediate and very considerable traffic on (he line are -as good, or better, than can be shown on any new line in New Zealand. The rapid strides made during the last few years in the Upper Thames and Waikato districts show that the country has a power of production and of supporting a large population in proportion to its area—equal to almost any other part of t'-e colony. The projected railway will open up an area of from 1,503.000 to 2,000,000 of acres of available land, a large portion ready for immediate occupation, but at present wholly unoccupied, owing partly to the want of means of communication, and partly to the fact that a portion of t'uis territory has but recently been acquired from, the native owners. The settle ment of this extensive area must necessarily, for some years to comr, create a very large import traffic, and year by year, as settlement progresses, the export traffic of grain, stock, and other produce must also increase to very large dimensions. But, independently of the ordinary sources of supply towards a railway traffic which agricultural and pastoral settle* ment of the country affords, there are special reasons which justify the expectation of an unusually rapid development of a varied, extensive, and paying business on this line. It is now generally known that the purchaser* of the lands known as the Patetere District ere taking active steps towards the immediate colonisation, by comparatively imall holders, of the whole of the lands they have acquired, or are acquiring, through the agency of a powerful company in England. The importations consequent on the introduotion of a large population caanot fail to be very considerable during the first years of their settlement. Again, the line in its course to Ohinemutu, taps a valuable forest, of magnificent timber, from which—as soon as the line ia completed ao far—the whole of the Upper Thames and Waikato districts will undoubtedly draw their supplies of timber for house building, fencing, and fuel j and last, but certainly not least, the litrge and ever increasing stream of tourists visiting New Zealand from all parts of the world, attracted by the wonders of Obibemutu and Rotomahana, will certainly prefer to use this line of railway, which will convey them easily in one Bhqrt day from the City of Auckland to the Hot Springs, by an easy and most interesting route, thus giving to the line the exceptional advantage of a large passenger trafflo at onoe, quite irrespective of the ordinary passenger traffic of the country. It may also be pointed out that for a distance of fully forty miles the line proposed must, at a future and no far distant da! c, form part of the main Hue connecting Auckland with Napier and Wellington, thtough the interior of the island. Regarding the traffic which may he expected, a comparison may be made with the existing line in Auckland. Seeing that on these lines there are many miles of uoprcduov