Page 4 Advertisements Column 3

Waikato Times, Volume XVII, Issue 1463, 17 November 1881, Page 4

Notices.

THAMES VALLEY AND JL ROTORUA RAILWAY COMPANY (LIMITED). NOMINAL CAPITAL, £400,000, IN 400,000 SHARES OF OF £\ EACH. Provisional Dirkctors : Hon. James Williamson, Chairman. J. L. Campbell, Esq., M.D. I' 1 . D.Rich, Esq, Win. Crush Daldy, Esq. E. F. Roche, Esq id.s. McCosh Clark, Esq. Thos. Peacock, lisq. Lobcrt Graham, Esq. E. B. Walker, Esq. James Dilworth, Esq. Wm. Aitkin, Esq. George Holdship, Esq. Nga Huruhuru Joseph Howard, Esq. Pctera Pukuatua John Wilson, Esq Henere Pukuatua i'hoi. Mornn, Esq. Rotohiko Haupapa Wm. Innes laylor, Esq. Arckatera 'le Wera C. J. btone, Issq. EiuPaimoi A. W.F. H.iirombe, Esq. W. Maitn le Kangikahckc Bankers : Bank of New Zealand. Sor icitors : Messrs. Jackson and iiussell, Fort-street, Auckland. Engimjer : J. Stewart, Esq., M. Inst. C.E., late District Engineer. Interim bECRETARv: Jas. Stewart, Esq., C.E. The proposed railway will do about seventyfour miles in length, and commences at a point on the Hamilton-Thames Railway, near the town of Mornnsville. From this point it runs southward through the centre of tbe 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 Ihames and lauranga districts ; from this it deicends, bv an easy route, to its terminus at the town of Ohinemutu, making a further distance of thirty-nine miles, lhis completes an unbroken chain of railway communication between the city of Auckland and the Hot Lake district, which is the central point of attraction for tourists to New Zealand. Ihe cost of the line has been estimated — after exploration— by Jas. Stewart, Esq., late District Engineer, to be £2000 per mile for the first section of thirtj'-five miles; of the remainder twenty foui miles, will cost £3000 per mile, and the remaining fifteen miles, about £^500 per mile, making a total cost for construction (of the class of the Government railways, and exclusive of rolling stock) 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, the hist section of thirt) -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 nnd equipment, not exceeding x per cent., and the neighboring lands (rated in proportion to the benefits derivable from the construction of the line) are liable for interest 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 the landholders abutting on this section have expressed their willingness that their pi opcrties 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 natne lands, which it is not possible to bring under " Ihe Distuct Railwajs Acts," it is proposed to work, if possible, under " The Railways Constiuction 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 as an endowment. In this case only 28,000 acies arc available, situated in the Patetero 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 adjarent to the line, which maj 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 such purchases. By this means, it is hoped the construction of the second section may be undertaken almost simultaneously with the first. Ihe prospects of immediate and very considerable traffic on the line are ai good, or better, than can be shown on any new line in New Zealand. Ihe rapid strides made during tho last few jears 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 line will open up an area of from 1,500,000 to 2,000,000 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 this territory has but recently been acquired from the native owners. The settlement of this extensive area must necessarily for some years to come create .1 very large import traffic, and year by yeai, as settlement progresses, the export traffic of grain, stock, and other produce must also increase to very large dimensions. But, independently of the ordinaiy sources of supply towards a railway traffic whice 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 lino. It is now generally known that the purchasers of the lands known as the Patctere District are taking active steps towards the immediate colonisation by comparatively small holders of the whole of the lands they have acquired, or arc 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 Ohinemutu, taps a valuable forest of magnificent timber, from which— as soon as the line is completed so far— the whole of the Upper 'lhames and Waikato districts will undoubtedly draw then supplies of timber for house building, fencing, and fuel ; and last, but certainly not least, the large and ever increasing: stream of touiists 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 convey them easily in one short day from the city of Auckland to the riot Springs, 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 toitv miles the line propoicd must, at a future and no very 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 thcvallejs of the Piako, Waitoa, and Thames arc largely settled and stocked (and by the time the line is open may be expected to bo fully so), looking also to the scheme for the settlement of the Patctcre country, the Provisional Directors think the comparison a fair one. Ihe latest returns of the Kaipara-Te Awamutu Railway show a net revenue of £191 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 j ear's working at only one-half that of the _Kaipara- Waikato line, 3' per cent, will be obtained, leaving only 3J per cent, to be made up by the District Rate and Government contribution, or a little over 2^ per cent, and under 1 per cent, 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 expect 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 export trade of the whole Provincial District. The Nominal Capital of the Company is proposed to be fixed at £400,000 in 400,000 Shares of £t each. The first issue of shares to be 200,000, on which it is not intended to_ call up more thantos per Share, and it js anticipated that 5s per Share will suffice as paid-up capital, for the first section of the Railway, because it is proposed to exercise the borrowing powers con ferred 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 already issued. The payments on the first issue to be is on application ; and the balance by calls of is each, at intervals of not less than two months. Applications for Shares to be made to the Secretary, Shortland-street, or through authorised agents. 70,000 Shares have already been taken by 32 subscribers, in amounts not less than 1000. As it is anticipated that the whole of the shares will be rapidly taken up, early application will be necessary. Priority of application will be a factor in the allotment of Shares by the Directory. No application will be received for less than ao shares.

THE EX MOOR PONY, "NUTMEG," by Allspice, out of Lapwing, will run in a paddock at the Narrows, and serve a limited number of mares this season. Nutmeg was bred by Mr J. S. Caverhill in Canterbary, and stands thirteen hands two inches high, three years old, and a perfect model of strength and symmetry. Terms: Two sovereigns per mare, and two shilling* per week grazing. All care taken, but no responsibility. NICHOLAS HWT. tfoTWlber^tfc* JBBJ.