Prospectus
tive country, and that the valleys of the Piako, Waitoa, and Thames are largely settled and stocked (and by the time the line is open may be expected to bo fully bo), looking also to the scheme for the settlement of the Patetere country, the Provisionul Directors think the comparison a fuir one. The latest returns of the Kaipara-Te Awatnutu Railway show a net revenue of £193 per mile per annum. This would give on the first section of 38 miles, a net revenue of £7334, or 7i per cent, on £100,000. Estimating the revenue for tho first year's working at only one half of the Kaipara Waikatoline, 3j per cent, will be obtained, leaving only 3J per cent. to be made up by the District. Kate and Government contribution, or a little over 2$ per cent, and under 1 per cent, respectively. For these reasons, and- for others too numerous to mention, the Provisional Directors feel fully justified in recommending the undertaking to the public as a work of national aa well as local importance. As an investment of capital, it will be directly remunerative, and they confidently expect the hearty support of the people of Auckland, both town and country, in a work which cannot fail, immediately on its completion, to add, as no one undertaking has added before, to the population, production, and the import and export trade of the whole Provincial District. The Nominal Capital of the Company is proposed to be fixed at £400,000, in 400,000 Shares of £1 each. The first issue of shares to be 200,000 on which it is uot intended to call up more than 10s per Share, and it is anticipated that 5s per share will suffice as paid-up capital for the first section of the Railway, because it is proposed to exercise the borrowing powers conferred by the Acts. On the prosecution of the second section, it will be a question whether to issue more Shares; or make further calls on those already issued. The payments on therfirat issue to be Is on application; and the balance by Calls of Is each, at intervals of not IeBS than two months. Applications for Shares to be made to the Secretary, Shortland street, or through authorised agents. 70,000 Shares have already been taken- by 32 subscribers, in amounts not less than 1000. As it is anticipated that the whole of the Shares will be rapidy taken up, early application will be necessary. Priority of applioation will be a factor in the ullotment of shares by the Directory. No application will be received for less than 20 Shares. The following gentlemen are Agents authorised to receive applications for shares, viz.:— Joseph Newman, Auckland Alex. Saunders, Auckland Chas, Alexander, Auckland Samuel Tickers, Auckland J. Friar Clarke, Auckland Robert Frater, Auckland John Mowbray, Auckland Robert Home, Auckland J. B. Morpeth, Auckland J. M. Lennox, Auckland Wm. Flood, Auckland J. Wiokens, Auckland F. G. Ewington, Auckland Kennedy Hill. Hamilton
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Thames Star, Volume XII, Issue 4026, 23 November 1881, Page 4
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495Prospectus Thames Star, Volume XII, Issue 4026, 23 November 1881, Page 4
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