Page 4 Advertisements Column 2

Thames Star, Volume XII, Issue 4026, 23 November 1881, Page 4

Prospectus mHAMES VALLEY AND KOTO--1 BUA .RAILWAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 shabeß of £1 each. Provisional Dibectobs : Hon. James Williamson, Chairman. J. L. Campbell, Esq., M.D. F. D. Eich, Esq. Wm. Crush Daldy, Esq. E. F. Roche, Esq. Jas. McCosb Clark, Eaq. Them. Peacock, Esq. Robert Graham, Esq. Ji). 33. Walker, Eaq. James Dilworth, Esq. Wm. Aitken, Esq. George Holdship, Esq. Nga Huruhuru Joseph Howard, Esq. Fetera Pukuatua John Wilson, Esq. Henere Pukuatua Thos. Morriu, Esq. Rotohiko Haupapn Wm. lunes Taylor, Esq. W. Maihi Te Rangikaheke C. j. Stone, Esq. Arokatera Te Wera A, W> F. Halcotnbe, Esq. Era Paimoi Bankeesi Bank of New Zealand. Solicitous : Messrs Jackson and Russell, Fort street, Auckland. EIfGINEEB: J. Stewart, Esq., M. Inet. 0.E., late District '<■ Engineer. ' INTEBIM SIOEETABr: Jas. Stewart, Esq., C.E. The proposed railway will be about seventyfour miles in length', and commences at a point on the Hamilton-Thames Railway, near the town of Morrinßville. 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 inountß to the wooded plateau which divides the Upper Thames and Tauranga districts; from this it descends, by an eaey route, to its terminus at the town of Ohinomutu, making a further distance of thirty* nine miles. This completes an unbroken chain of railway communication between the city of Auckland and the Hot Lake district, which is tlio central point of attraction for tourists to New Zealand. The cost of the line has been estimated— after exploration—by Jas. Stewart, Esq., late District Engineer, to be £2000 per mile for the first section of thirty-five miles ; of the .remainder, twenty-four 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* of j £209,500. The cost of buildings and rolling* stock is estimated at £38,000, making a total cost ef £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 wbioh, 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 benefits derivable from the construction of the line) are liable for interest not exceeding a further five per cent., thus giving a oertain interest of 7 per cent, on the investment, even if the line itself only pays working expenses. The majority of landholders abutting on this section have expressed their willingness that their properties shall be brought under the operation of " The District Railways Act, and the Amendment Aot, 1878." For the construction of the second section, passing, as it does mainly through native lands, wt ich it is not possible to bring under " Tbe District Railways Acts," it is proposed to work, if possible, under the "Railways Construction and Land Aob, 1881." By this Act, the Colonial Government is empowered to contract with a Company for the construction of this Bailway, 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 section of the line, but the native proprietors have, in addition, agreed to give a considerable area of land to tbe 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 veotion may be undertaken almost simultaneously with the first. Tbe prospects of immediate and very considerable 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 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 the colony. The projected railway will open up an area of from 1,500.000 lo 2,000,000 of acres of available land, a largo portion ready for immediate occupation, but at present wholly unoccupied, owing partly to the want of mean* of communication, and partly to the fact that a portion of t:iis territory has but recently been acquired from the native owners. The settle menfc of this extensive area must necesearily, for some y«ars to come, create a very large import traffia, and year by year, as settlement progresses, tbe export traffic of grain, ftock, and other produce mast also increase to vary large dimensions. But, independently of the ordinary sources of supply towards a railway traffic which agricultural and pastoral settle* ment of ihe country affords, there are special reasons wbioh justify tbe expectation of an unusually rapid development of a varied, extensive, and paying business on this line. It is now generally known that the purchasers of the lands known as the Patetere District are taking active steps towards the immediate colonisation, by comparatively small 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 introduction of a large population cannot fail to be very considerable during the first years of their settlement. Again, tbe line in its course to Ohinemutu, taps a valuable forest 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, tbe Urge and ever increasing stream of touristß visiting New Zealand from all parts of the world, attracted by the wonders of Obinemutu 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 da! c, form part of the main lino connecting Auckland with Napier and Wellington, through the interior of the island. . Regarding the traffic which may be expec» ted, a comparison may be made with the esistiag lias ia Auckland. Seising that on fchssß IJQfls thsira sxa xzs&y siiLss &f uaprodao»