Page 4 Advertisements Column 2

Thames Star, Volume XII, Issue 4045, 15 December 1881, Page 4

Prospectus rPHAMES VALLEY AND EOTO--1 BUA RAILWAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 Shabes of £1 each. Peovisional Dibeotoes : Hon. James Williamson, Chairman. •J. L. Campbell, Eeq., M.D. F. D. Rich, Esq. Win. Crush Daldy, Esq. E. F. Roche, Esq. Jas.McCossb Clark, Esq. Thos. Peacock, Esq. Robert Graham, Esq. B. B. Walker, Esq. James Dilworth, Esq. Wm. Aitken, Eeq. George Holdship, Kpq. Nga Huruhuru Joaeph Howard, Esq. Petera Pukuatua John Wilson, Esq. Henere Pukuatua Thos. Morrin, Esq. Rotohiko Haupapn Wm. Innes Taylor, Esq. W. Maibi .Te Rangikaheke C. J. Stone, Esq. Arekatera Te Wera A.W.F.Haleombp.Ecq Era Paimoi Bankers: Bank of New Zealand. SoHCITOES : Messrs Jackeon and Russell, Fort street, Auckland. Engineer : J. Stewart, Esq., M. Inet. C.E., late District Engineer. INTEBIM SeCBETAHY: Job. 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- Morrinsville. From this point it funs southward through tbe 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 routo, to its terminus at the town of Ohineinutu, 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 tho central point of attraction for | tourißts to Now Zealand. The cost of the line has been estimated— after exploration—by Jae. Stewart, Esq.", late District Engineer, to be £2000 per mile for the first section of thirty-five miles ; of the remainder, twonty-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 £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 j Railway* Act, 1877," by whiob, 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 the 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 hnd holders abutting on this section have expressed their willingness that their properties shall be brought under the operation of " The District Bailwßys 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 iB 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 should acquire, by purchase, a further portion of native lands adjacent to the line, wbieh 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 eueh purchases. By this means, it is hoped the construction of the second section may be undertaken almost simultaneously with the first. The prospeots 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. Therapid strides made during the lust few years in the Upper Thames and Waikafo 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 op6n up an area of from 1,500.000i0 2,000,000 of acres of available land, a large portion ready for immediate occupation, but at preseut wholly unoccupied, owing partly to the want of means of communication, and partly to the fact that a portion of t:iis territory has bat recently been acquired from the native owners. The settle ment of this extensive area must necessarily, for some years to come, create a very large import traffio, and year by year, as. settlement progresses, the export traffic of grain, stock, and other produce must also 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 which justify the expectation of an unusually rapid development of a varied, extensive, and paving business on this line, It is now generally known that the purchaser* of the lands known as 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 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, the line in its course to Ohineuoui v, taps a valuable forest of magnificent timber, from which—as soon as the line is completed so far—the whole of the ! Upper Thamee and Waikato districts will undoubtedly draw their supplies of timber for house building, fencing, and fuel; and last, but certainly not least, the Urge and ever increasing stream of tourists visiting New Zealand from all parts of the world, attracted by the wonders of Ohinemutu and Rotomabana, 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 traffio 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 aud no far distant da'e, form part of the main line connecting Auckland with Napier and Wellington, through the interior of the island. Regarding the traffio which may be expected, a comparison may be made with the existing line in Auckland. Seeing that on these lines there are m»rxy miles of unprcduc*