Page 3 Advertisements Column 3

Thames Star, Volume XII, Issue 4020, 16 November 1881, Page 3

Prospectus HAMES VALLEY AM) KOTO11UA HAILW V COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 Shakes of £1 each. Peovisional Dikkotoes : Hon. James Williamßon, Chairman. J. L. Campbell, Esq., M.D. F. D. Rich, Esq. Win. Crush Daldy, Esq. B. F. Roche, Eeq. Jus. McCosh Clark, Esq. Thos. Peacock, Esq. Robert Graham, Esq. K. B. Wulker, Esq» James Dilworth, Esq. Wm. Aiiken, Esq. George Uoldehip, Esq. Nga Huruhuru Joaeph Howard, Esq. Petera Pukuatua John Wilson, Esq. Henere Pukuatua Thos. Morrin, Esq. Rotohiko Hiupapa Wm.lones Taylor, Esq. W. Maihi Te Rangikaheke C. J. Stone, Esq. Arekatera Te Weri» A. W. F. Halcombe, Esq. Era Paimoi Bankkhs: Bunk of New Zealand. Solicitoes : Messrs Jackson and Russell, Fort street, Auckland. Engineeb : J. Stewart, Esq., M. Inßt. 0.8., late District Engineer. Interim Secrexabx : Jus. Stewart, Esq., C.E. The proposed railway will te about seventyfour miles in length, and commences at a point on the Hamilton-Thames Railway, near the town of Morrinsville. 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 milts ; it then mounts to the wooded plateau which divides the Upper Thames and Tauranga 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 district, which is the central point of attraction for tourists to New Zealand. The cost of the line hag been estimated— after exploration—by Jas. Stewart, Esq., late District Engineer, to be £2000 per mile for the first Beclion cf thirl j five miles ; of the remainder, twenty-four miles will cost £3000 )er mile, and the remaining fifteen miles, about £4500 per mile; making a total cost for construction (of the clbsb of the Government railways, and exclusive of rolling stocks of £209,500. The cost of buildings and rollingstock is estimated at £38,000, making a total cost, of £247,500. It is proposed to construct the Railway in two sections ; the first section of thirty-eight miles under the provisions of " The District Railways 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 percent., and the neighbouring lands (rated in proportion to the benefits derivable from the construction of tLe 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 l»nd holders abutting on this section have expressed tbeir willingness that their properties shall be brought under the operation of " The District 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 " The District Railways Acts," it is proposed to work, if possible, under the " Railways Construction and Land Act, 1881." By this Act, the Colonial Government is empowered to contract wiih a Company for the construction of this Eailwoy, among others, 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 sectiqn of the line, but the native proprietors have, in addition, agreed to give a considerable area of land 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 increased in value by its construction ; and with this view, the Capital of the Company has been fixed at a sum sufficient to include such purchases. By this means, it is hoped the construction of the second section may be undertaken almost simultaneously with the first. The prospects of immediate and very con-' siderable traffic on the 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 rears 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 op6n up an urea of from 1.500.C0Q to 2,000,000 of acres arailable land, a large portion ready for immediate occupation,bat atpresent wholly unoccupied, owing partly to the want of means of communication, ancl partly to the fact that a portion of fcuis territory has but recently beon acquired from the natiTe owners. The settle ment of this extonsive area must necessarily, for some years to come, create a very large import treffio, and year by year, as settlement progresses, the export tralßp of grain, etock, and other produce must a^lao increase to very large dimensions. But, independe.ntly of the ordinary sources of supply towards a railway traffic which agricultural and pasttorfllsattlement of the country affords, there are special reasons which jußtify the expectation of an unusually rapid development of a varied, extensive, and paying business on this line. It is now generally known that tho purchasers, of the lands known aa the Patetere District are taking active steps towards the immediate colonisation, by comparatively email holders, of the whole of the lands they have acquired, or are acquiring, through tlie agency of a powerful company in England. The importations consequent on tho introduction of a large population cannot fail to be very considerable during the first years of their settlement. Again, the line in its course toOhinemutu, taps a valuable foresb of magnificent timber, from which—as soon as the line is completed so far —the whole of the Upper Thames and Waikato districts will undoubtedly draw their supplies of timber for house, building, fencing, and fuel; and last, but certainly not least, the large and ever increasing stream of tourists visiting New. Zealand from all parts of the world, attracted by the wonders of Ohinemutu and Rotomahana, will certainly prefer to use this line of railway, which will convey them, easily in one short 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 traffic at once, 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 date, form part of the main line connecting Auckland with Napier and Wellington, through the interior of the iiland. Regarding the traffic which may be expected, a comparison may be made with the existing line in Auckland. Seeing that on tbeie lines there are many tnilea of unproduo*