Page 4 Advertisements Column 2

Thames Star, Volume XII, Issue 4046, 16 December 1881, Page 4

Prospectus ! mHAMES VALLEY AND EOTO--1 KUA EAILWAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 Shakes of £1 each. Provisional Dieectobs : Hon. James Williamson, Chairman. J. L. Campbell, Esq., M.D. F. D. Rich, Esq. Wm. Crush Daldy,Esq. E. F. Roche, Esq. Jas.McCosh Clark, Esq. Thoa. Peacock, Esq. Robert Graham, Esq. B. B. Walker, Esq. Jaraeß Dilworth, Esq. Wm. Aitken, Esq. George Holdahip, Kcq. Nga Huruhuru Joaeph Howard, Esq. Petera Pukuatua John Wilson, Esq. Henere Pukuatua Thos. Morrin, Esq. Botohiko Haupapa Wm. Innes Taylor, Esq. W. Maihi Te Rangikaheke C. J. Stone, Esq. Arekatera Te Wera A.W;F.Halcombo,Esq.Era Paimoi Bankbbs: Bank of New Zealand. Solicitoes s Messrs Jackson and Russell, Fort street, Auckland. Engineer: J. Stewart, Esq., M. Inßt. C.E., late District Engineer. Inteeim SeoeeTABY: 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 Morrinsville. 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 farther distance of thirtynine miles. This completes an unbroken chain of railway communication between the oity of Auckland and the Hot Lake district, which is the central point of attraction for tourists to New Zealand. The cost of the Hne 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 exolusive of rolling stock> 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 I two 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 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 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 Act, 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 bb an endowment. In this case only 28,000 acres are available, situated in the Fatetere 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, which may be expected to be largely increased in value, by its construction ; and with this view, the Capital of tho Company has been fixed at a sum sufficient to include such purchases. By this means, it is hoped the construction of the second eection 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 durin g 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 to 2,000,000 of acreß 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 pdrtion of tbis' territory has but recently been acquired from the native owners. The 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 also inorease 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 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. Tho 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 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, the large and ever increasing stream of tourists visiting New Zealand from all parts of the world, attracted by the wonders of Ohinemutu and Rotomahana, will certainly prefer to use this line of railway, which will convoy them easily in one short day from the City of Auckland to the Hot Springs, by an easy and most, interesting route, thuß 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 lines there are many miles of unprodue-