Page 4 Advertisements Column 2

Thames Star, Volume XII, Issue 4037, 6 December 1881, Page 4

Prospectus miIAMES VALLEY AND HOTO--1 EUA -RAILWAY COMPANY (LIMITED). . Nominal Capital, £400,000, in 400,000 Phases oi>' £1 each. PKOVIBIOKAI DIBEOTQII3 : Hon. James Williamson, Chairman. J. L. Campbell, Esq., M.D. F. D. Rich, Esq. Wm. Crush Daldy,Esq. E. F. Eoehe, Esq. Jas.McCoshClavk.Esq. Tboe. Peacock, Esq. Robert Graham, Esq. K. B. Walker, Esq. James Dilworth, Esq. Wm. Aiiken, E»q. George Holdship, Keg. Ngu Hm-uhuru Joseph Howard, Esq. Petera Pukuatua John Wilson, Esq. Henere Pukuatua Thos. Morrin, Esq. Eotohiko Haupapa Wm.lnneßTaylor,E?q. W. Maibi Te Rangikaheko C. J. Stone, Eeq. Arekatcra Te Wera A.W.F.HalcoiDbe.Esq.Era Paitnoi Bankkes: Bank of New Zealand. SOI/ICITOBS : Messrs Jackson and Riißsell, Fort street, Auckland. Ekgineeb : J.Stewart, Esq., M.lnst. C.E., late District] Engineer. ■ Intebim Sxceetaky : Jas. Stewart,.Esq., C.E. The proposed railway will fee about Beventyfour miles iD length, and commences at a point on the Hamilton-Tbames 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 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 further distance of thirtynine miles. This completes an unbroken chain of railway communication between tho city of Auckland and the Hot Lake dislriefc, which is the central point of attraction for tourists to New Zealand. The.cost of the'ice 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 nost for construction (of the clas6 of the Government railways, and exclusive of rolling stocks 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 j 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 ia security for interest on the cost of construction and equipment, not oxceediogS percent., and the neighbouring lauds (rated in proportion to the benefits derivable from the construction of the line) are liable for interest not exceeding a further five per ceut., thus"giving'a certain interest of 7 per cent, on the inveotinent, even if the line itself only pays working expenses. The Majority of l»nd holders abutting on this section have expressed their willingness that their properties ehall 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 with a Company for the construction of this Railway, among otbere, and to grant such lands as are available as nn 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 tbe line, but the native proprietors have, xin addition, agreed to give a considerable area of latsd to the Company. It is also proposed that tbe Company should acquire, by purchase, a further portion of native lauds adjacent to the line, which mny bo expected to be largely increased in value by its construction ; and with this view, the Capital of the Company has been fixed at a sutn sufficient to include such purchases; By this means, it is hoped the construction of the second eection may bo 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 tbe laat 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 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 tiiis territory has but recently been acquired from the native ownprs. The settlo 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 aleo increase to veryj large dimensions. But, independently of the ordinary s urces of supply towards a railway traffic which agricultural and pastoral settlement of the country affords, there are special reasons which justify the expectation of an unusually rapid, development of a varied, extensive, and pnying business on this line. It is now generally known that the purchasers of tbe 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 tbe agency of a powerful company in England. The importations consequent on the introduction of a large population caanot fail to be Tery considerable during the firet 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 is completed ao far—the whole of the Upper Thames and Waikato districts wiil undoubtedly draw their supplies of timber for house building, fencing, and fuel ; and last, but certainly not least, the krge and ever increasing stream of tourists visiting New Zealand from all parts of the world, attracted by the wondera of Obinemuiu and Rotomahana, will certainly prefer to use this line of railway, which will convey them easily in one short day from the Oily of Auckland to the Hot Springß, 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 expeo ted, a comparison may be made with the existing line in Auckland. Seeing that on tbeie lines there are xainy miles of unprodue-