Page 4 Advertisements Column 1

Thames Star, Volume XII, Issue 4033, 1 December 1881, Page 4

Prospectus mHAMES VALLEY AND EOTO--1 EUA EAILWAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 ShABES OF £1 EACH. Peotisional Dibectoes : Hon. James Williamson, Chairman. J. L. Campbell, Esq., MjD. ■•■■■■■ F. D. Kich, Esq. Wm. Crush Daldy, Esq. E. F. Boche, Esq. j Jai. McCoßh Clark, Esq. Thos. Peacock, Esq. Robert Graham, Esq. B. B; Walker, Esq. James Dilwortb, Esq. Wm. Aitken, Esq. George Holdship, Esq. Nga Huruburu Joseph Howard; Esq. Petera Pukuatua John Wilson, Esq. Henere Pukuatua Ihos. Morrin, Esq. Botohiko Haupapa Win. Innes Taylor, Esq. W.Maihi Te Eangikalieke C J. Stone, Esq. Arekatera Te Wera A.W.F.H»lcombe,Esq.Era Paimoi BANKBBS: Bank of New Zealand. SoMciioes: ■ Messrs Jackson and Russell, Fort street, Auckland. . •: ■ , ENGINEEB: ■ ■, ; , J. Stewart, Esq., M. Inßt. C.8., late District Engineer. iNTKBIto ShCEETABT: , ■.':.-•; Jaa. 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 Morrinsville. From this point it tuns southward through the centre of the great valley of the Upper Thames, by a very «asy ; route, for a, distance of thirty-five miles; it then mounts to the wooded plateau which difides the Uppe* '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 lice 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 stocks of J8209.600. The cost of buildings and rollingstock is estimated at £38,000, making a total cost ef £247,500. It iB proposed to construct the Railway in tiro 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 inrastment, 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, which 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 'with a Company for the construction of this Railway, 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 the Company. It is also proposed' that the Company jhould acquire, by purchase, a further, portion ■ ofj 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 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-—equalto almost any other part of tbe colony. The projected railway will open up an area of from 1,500.000 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 ttiist territory has but recently been acquired from the native owners. Tbe settlement of this extensive area must necessarily, for some years to come^ create a very large import traffic, and year by year, as settlement progresses, the export traffic of grain, stock, and other produce must 1 alto increase to very large dimensions. But, independently of the ordinary sources of supply towards a railway traffic which agricultural and pastoral settlement of the country affords, there are special reasons whioh 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 purchasers of the lands known as the Patotere 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 tbe 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, the line in its course to Ohinemutu, taps a valuable forest of magnificent timber, from which—as soon as the line ib 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 Obinemutu and Rotomahana, will certainly prefer to use this line of railway, which will convey them easily in one short day from the Cily 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 island. Regarding the traffic which may be expected, a comparison may be made with the existing line in Auckland. Seeing that on these Hues there are uaauy miles of unproduc-