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Waikato Times, Volume XVII, Issue 1460, 10 November 1881, Page 3

Notices.

NOTICE. qpHE QUARTERLY LICENSING 1 MEETING for the diHtricts of Raglan and Kawhia will be holden at the Court-house Raglan, on Tuesday the 6th day of December, 1881 at the hour of noon. WILLIAM BULFORD, Clerk of Licensing Court. Re6idont Magistrate^ Office, Raglan, 2nd Nov. 1881.

THAMES VALLEY AND JL ROTORUA RAILWAY COMPANY (LIMITED). NOMINAL CAPITAL, £400,000, IN 400,00 SHARES OF OF £1 EACH. Provisional Directors : Hon. James Williamson, Chairman. I, L. Campbell, Esq., M.D. F. D.Rich, Esq. Wra. Crush Datdy, Esq. E. F. Roche, Esq Jas. McCosh Claik, Esq. Thos. Peacock, Esq. Robert Graham, Esq. E. B. Walker, Esq. James Dihvorth, Esq. Wm. Aitkin, Esq. George Holdship, Esq. Nga Huruhuiu Joseph Howatd, Esq. Peter.i Pukuatua John Wilson, Esq Ilcncre Pukuatua ihos. Mornn, Esq. Rotohiko Haupapa Wm Innes lajlor, Esq. Arekatera Te Wera C. J. Stone, Esq. EiuPamioi A. W. F. H.ilcombe, Esq. W. Maihi le Rangtkaheke Bamvhks : Bank of New Zealand. SouLiiORS : Messrs. Jackson and Russell, Fort-street, Auckland. Engim.i r: J. Stewait, Esq., M Inst. C.E , late District Engineer. Isti'rim bi cri iau\ : Jas. Stewart, Esq , C.E. The proposed railway will be about scventyfour miles in length, and commences at a point on the Hamilton- ihames Railway, near the town of Mornnsville. From this point it runs southward through the ccntie of the great valley of the Upper Humes, bj a very easy route, for a distance of thirty-five miles; it then mounts to the wooded plateau which divides the Upper lhan.es and lauianga disttuts; from this it descends, b\ an easy route, to its tei minus at the town of Ohinemutu, making a fmthcr distance of thirty-nine miles. Ihis completes an unbroken chain of railway communication between the city of Am kland and the Hot Lake district, which is the ccntial point of attraction fortouusls to New Zealand. The cost of the line has been estimated— after exploration — bj Jas. Stcwai t, Esq , Lite District Engineer, to be £ 2000 per mile foi the fiist section of thirtj-fne miles; of the remainder twenty" foui miles, will cost £3000 per mile, and the ieinaimng httccn miles, about £4500 per mile, making a total cost for constiuction (of the class ot the Go\ernment lailways, and exclusive of rolling stock) of £200,^00. Ihe cost of buildings and lolling-stockis estimated at £38,000, making a total cost of £247,500. It is proposed to constiuct the Railway in two sections . the first section of thirty-eight miles under the piovisions ot " J'lie District Railu ijs Act, 1877, ' by which, on approval by the Government, the Colonial levenue is security formteiest on the cost ot construction and equipment, not exceeding 2 per cent., and the neighboring lands (rated in pioportion to the benehts derivable from the construction ot the line) are liable for inteiest not exceeding a further 5 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 tlie landholders abutting on this section have cxDresscd thcii willingness that their pi opei ties shall be brought under the operation of "1 he District Railways Act, and the Amendment Act, 1878." For the construction of the second section, passing, as it docs, mainly through native lands, which it is nut possible to bung under " Ihe District RaiUavs Acts," it is proposed to w oik, if possible, under " llie Railways Construction and Land Act, 1881." By this Act, the colonial Government is empowcicd to contract >vith a Company for the construction of this Railway, among othcis, and to grant such lands is .ire available as .an endowment. In this case only 28,000 acies aic available, situated in the Patrterc country. '1 his would not be a sufficient endowment, without rating powers, to warrant the constiuction ot this section of the line, but the native propuetois have, in addition, agreed to give a considerable aiea of land to the company It is also proposed th it the Company •.liould aeqiuie, b) pun hase, a further poi tion of native lands adiacent 10 the lino, which maj be j\peited to be l.ngelv incieased in value bj its construction, and, with this view, the Capit il of the Company his been fixed at a sum sufficient to include such purchases. By this means, it is hoped the construction of the second section may 'ip undci taken almost simultaneously with the first. Die prospects of immediate and very constdel able traffic on the line are as good, or better, Inn cm be shown- on any new line in New ZeaImd Ihe rapid strides made duiing the last few I'ears in the Upper lhames and Waikato districts show that the countiy has a powei of proluction and of supporting a large population in iroportion to its area — equal to almost an 3' other .uit of the colony. The projected railway line vill open up an area ot from 1,500,000 to •,000,000 acres of available land, a large portion -eady for immediate occupation, but at present wholly unoccupied, owing partly to the want of means of communication, and partly to the fact hat a poition of this territory has but recently been acquired from the native owners. The settlement of this extensive area must neccssauly for some years to come create a very large import traffic, and year by j eat, as settlement progresses, ihe export traffic of grain, stock, and other produce must also inciease to veiy laige dimensions. But, independently of the ordinary sources of supply towards a railway traffic whicc agncultuial 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 knovvnjthat the purchasers of the lands known as the Patcterc District aie taking active steps towards the immediate colonisation by comparatively small holders of the whole of the lands they have acquiicd, or are acquiring, iluough the agency of a powerful company in England The impoitations consequent on the introduction of a large population cannot fail ro be very considerable during the first years of their settlement. Again, the line in its course 10 Ohinemutu, taps a valuable forest of magnincent timber, from which— as soon as the line is 1 ompleted so fai — the whole of the Uppei Thames md Wai|-ato districts will undoubtedly draw rhcir supplies of timber foi house building, fencing, and fuel ; and last, but certainly not least, he large and ever increasing stream of tourists visiting New Zealand from all paits of the world attracted by the wondois of Ohinemutu and Rotomahana. will certainly prefer to u«e this line of railway, which will convey them easily in one short day from the city of Auckland to the riot springs, by an casv 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 torty miles the line proposed must, at a future and no vory distant date, form part of the main line connecting Auckland with Napier and Wellington, through the interior of the island. Regarding the traffic which maybe expected, a comparison may be made with the existing line in Auckland. Seeing that on these lines there are many miles of unproductive country, and that thevallejs of the Piako, Waitoa, and Thames ire largely settled and stocked (and by the time the line is open may be expected to be fully so), looking also to the scheme for the settlement of the Patetere country, the Provisional Directors think the comparison a fair one, Ihe latest returns of the Kaipara-Te Awamutu Railway show 1 net revenue of £193 per mile per annum. This would give, on the first section of thirty-eight miles, a net revenue of £7334, or 7J per cent, on £100,000. Estimating the revenue for the first year's working at only one-half that of the Kaipara- Waikato line, 3? per cent, will be obtained, leaving only 3 j per cent, to be made up by the District Rate and Government contribution, or a little over 2J per cent, and under 1 per coqt. respectively For these reasons, and for others too numerous to mention, the Provisional Directors feel fully justified in recommending the undertaking to the Public as a work of national as well as local importance. As an investment of capital, it will be directly remunerative, and they confidently aspect the hearty support of the people of Auckland, both town and country, in a work which cannot fail, immediately on its completion, to add, as no one undertaking has added before, to the population, production, and the import and exrjort ti ade of the whole Provincial District. The Nominal Capital of the Company is proposed to be fixed at £400,000 in 400,000 Shares of £1 each. The fast issue of shares to he 200,000, on which it is not intended to call up more than 10s per Share, and it is anticipated that 5s per Shaie will suffice as paid-up capital, for the first section of the Railway, because it is proposed to exercise the borrowing powers con fcrred by the Acts. On the prosecution of the second section, it will be a question whether to issue more Shares, or make further calls on those aheady issued, The payments on the first issue to be is on application ; and the balance by calls of is each, at intervals of not Ipss than two months. Applications for Shares to be made to the Secretary, Shortland-street, or through authorised agents70,000 Shares have already been taken by 32 subscribers, .in amounts not less than 1000. As It is anticipated that the whole of th.c shares willbo rapidly tafcen. up, early application will be necessary, Priority of application will ho a factor in the allotment of Shares by the Directory. No application will be received for less than ao snares. < ' >< r

WANTED -The Publio to try Dbx *h» Jtaroa's 3s Tea,