Page 4 Advertisements Column 1

Thames Star, Volume XII, Issue 4048, 19 December 1881, Page 4

. Prospectus mHAMES VALLEY AND ROTOJL RUA RAILWAY COMPANY (LIMITED). Nominal Capital, £400,000, in 400,000 shabes of £1 each. • PKOVISIONAI. DIErCTOEB : Hon. James Williamson, Chairman, J^fj.-Campbell, Esq., - ■'■ .„ IMJ), £1i ii ].[}. F,l>. Rich, Esq. ■, ;, Win. Crush Daldy,"Epq. E! F.Roche, Eeq. Jas.McCosb Clark, Eaq.^Thos. Peacock, Esq. Robert Graham, Esq. i£. B. Walker, Esq. James Dilwortb, Esq. Wm. Aitlen, Eeq. George Holdship, ltsq. Nga Huruhuru Joseph Howard, Esq. Petera Pukuatua John Wilson, Esq. Henero Pukuatua Thos. Morrin, Esq. Rotohiko- Haupapa Wm.lnnes Taylor, Esq. W. Maibi Te Rangi- . ; ■;.:■ kaheko O. J. Stone, Esq. Arekatera Te Weru •A,W.F.:Halcombe,Esq.Era Paimoi Bankebs: Bank of New Zealand. ,-..-" ? Messrs Jackeon and Russell, Fort street, „■, ■■■■ 'y-[?■-•". Auckland. Engineer : J. Stewart, Esq., M. Inst. : 0.E.,; late "District '■'".' Engineer. INIEBIM SEOEETAnX: .' Ja». Stewart, Esq., C.E. . The proposed railway, will be about seventyfour miles in length,: fand commences at a point on the Hamilton-Thames Railway, near the town of Morrinsville. From this point it tuns aouthward through the centre of the great ulley of the Upper Thames, by a very ealy route, for a distance, of thirty-five miles; it then mounts tb the wooded plateau which divides the Upper Thames ; and Tauranga districts 5 from this it descend s^ by an easy route, to its terminuß at the town of Ohinemutu, making a further distance of thirtynine miles. This completes an unbroken chain of railway communication between the city of Auckland and the Hot Lake district, which iB the central point of attraction for toßriitß toNew Zealand; . The cost of the line has been estimated— after exploration—by Jas. Stewart, Eeq , late District Engineer, to be £2000 per mile for the first Bectionv of thirty-five miles j of the remainder, twenty-four miles will coat £8000 per mile, and the remaining fifteen miles, about £4500 per mile; making a total costfor construction (of the class of the Government railways, and exclusive of rolling stock*) of £209,600. The cost of buildings and rolling* etockifl 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 which, on approval by the Government, the Colonial revenue is •ecurity for interest on the cost of construction and equipment^rnot exceeding 2 per cent., and'the neighbouring lands (ratedin -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 tho investment, even if the line itself only pays working expenses. The majority of land holders abutting on this section have -ex-r pre«ed 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, bb it does mainly through native lands, wlich it is not possible to bring under MThe District Railways Acts," it is proposed to work, if posiible, 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 other»i and to grant suoh lands as are available bb an endowment. In this case only 28,000 acres are available, situated in the Patetere Country. •; This would riot 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 aleo proposed that' 5 the Company 'should acquire, by purchase, a further portion of native lands adjacent io the line, which may be expected to be largely increased in value by its conr struction; and with this view, the Capital of the Company has been fixed at a emn- sufficient to include such purchases. By this means,.it is hoped the construc<>ion 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. The rapid strides made during the last few years inrthe 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 arailable land, 7 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 :teirritory?haß but 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 trafiio, and year by year, as settlement progresses, the export traißc of grain, etock, 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 couritr'y 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 tke lands known as the Patetere Dis-: trict 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 bo 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—us 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 \ touriets 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' Oily of Auckland to the Hot Springs, by an easy and most interesting route, thus giving to tho lino tho exceptional advantage of a largo passengor traffic at onco, 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'e, 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 tho 6xutujg',lind',in Auckland. Seeing that on these liuei there are many miles of uuproduo*