Page 4 Advertisements Column 3

Waikato Times, Volume XVII, Issue 1465, 22 November 1881, Page 4

Notices.

THAMES VALLEST AND JL ROfORUA RAILWAY COMPANY (LIMIIED). NOMINAL CAPITAL, £100,000, IN 400,000 .SHARES OF OF £1 EACH. Provision v, Di»i ciors : Hon. I. inics Williamson, Chairman. I. L. CampLell, Esq., M.D. F. D.Rich, Esq. Win. Crush Daldy, Esq. E. F. Roche, Esij J.is. McCosh Clark, Esq. Thos. Pe.icock, bsq. Robert Graham, Esq. E. Is, Walker, Esq. James Dilworth, Esq. Wm. Aitkin, Esq. George floldship, Esq. Nga Huruhuru Joseph Howard, Esq. Petcra Pukuatua John Wilson, Esq Hencrc Pukuatu.i lhos. Morrin, Esq. Rotohiko Haupapa \\ in. Innes 'laylor, Esq. Arekatcra Te "VVcra C. J. btone, Esq. EiuPatmoi A. W. F. Halcombe, Esq. W. Mailu Te Rnngikaheke Banki 1,0 • Bank of New Zealand. Solicitous : Messrs. Jackson and Russell, Fort-street, Auck1 .nd. Enwm;ur: J. Stewart, Esq., M. Inst. C.E., late District Engineer. Imerim Sucre iary: Jas. Stewart, Esq , C.E. The proposed railway will be about seventyfour miles in length, and commences at a point on tLe Hamilton-Thames Railway, near the town of Morrinsvillc. 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-fi\c miles; it then mounts to the wooded plateau which divides the Upper Ihames and 'lauranga districts ; from this it descends, bv an easy route, to its terminus at the town ot Ohmemutu, making a further distance ol thirty-nine miles. This 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 bo jQzooo per mile for the first section of thirty-five miles; of the remainder twenty 1 fouj miles, will cost £3000 per mile, and the remaining fifteen miles, about £4500 per mile, making a total co*>t for construction (ot the class of the Government railways, and exclusive of rolling stock) of £20q,5:00. '1 he cost ot buildings and rolling-stock is estimated at £38,000, making a total cost of £247,500. It is proposed t<> construct the Railway in two seitions: the first section of thirtj -eight miles under the provisions of "1 lie District Railways Act, 1877," bv vi huh, on approval by the Go\ eminent, tlie Colonial revenue is security foi interest on the cost of construction and equipment, not exceeding 2 per cent., and the neighboring lands (rated m proportion to the benefits derivaulc from the construction of the line) are liable foi lnteicst not exceeding a lurther 5 per cent , thus gning a certain interest ot 7 per ct nt on the investment, even if the line itself only pays working e.\ponscs. The majority , ot tlie l.uullioldei s abutting on this section have c\piosscd their willingness that their piopertics 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 does, m unly through native lands, which it is not possible to bring under " Hie Distrut Railways Acts," it is proposed to work, it possible, under " 1 tie Railways ConI structioii and Land Act, 1881." B) this Act, the Colonial Government is empowered to contract with a Company for the construction of this R-itlwiy, among others, and to gr.-int such lands 1 as are a\ailable as an endowment. In this case only 28,000 acres are available, situated in the Patetere country . Ihis would not be a sufficient endowment, without rating powers, to warrant the constrm tion ot this section of the line, but the native proprietors have, 111 addition, agreed to gi\e a considerable area of land to the Company. It is also pioposed that the Company should acquire, by purchase, .1 further portion of native land* adjacent to the line, winch maybe expected to be largely increased in \.iluc by its ronstiuction , and, with this \iew, the Capital of the Company has been fixed at a sum sufficient to include such purchases. By this means, it is hoped tlie construe tion of the second section may be undertaken almost simultaneously with the I first. Ihe prospects of immediate and very consideiable ti attic on the line are as good, or better, than can be shown on any new line in New Zealand, lhe rapid strides made during the last few years in the Upper ihames and Waikato distncts show that the counti) has a power of production and of supporting .1 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 readj for immediate occupation, but at present wholly unoccupied, owing partly to the want of means of communication, and partly to the fact that n portion of this territory has but recently been acquired from the native owners, lhe settlement of this extensive area must nccessaiily for some j ears to come create a very large import traffic, and year by year, as settlement progresses, the export traflic 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 wince agricultural and pastoral settlement of the country affords, there are special reasons which justify the expectation of an unusually rapjd development of a varied, extensive, and paying business on this line. It is now gencrallj known that the purchasers of the lands known as the Patetere District are taking active steps towards the immediate colonisation by comparatively small holdets of the whole of the jands they have acquired, or arc acquiring, through the agency of a powerful company in England, ihe impoitations 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 Ohmemutu. taps a valuable forest of magnificent timber, fiom which— as soon as the lino is completed so far — the whole of the Upper Ihames and Waikato districts will undoubtedly draw their supplies, of timbei for house building, fencing, and fuel ; and last, but ( ertainly not least, the lar^e and ever increasing stream of tourists visiting New Zealand from all parts of the world attracted bj the wonders of Ohmemutu and Rotom.ihan.t, will certain!) prefer to use this line ot railway, which will convey them easily in one short da) fiom the city of Auckland to the Hot Spnngs, by an easy and mos.t 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 tortv miles the line proposed must, at a future and no very distant date, form part of the main line connecting Auckland with Napier and Wellington, thiough the interior of the island. Regarding the traffic which maybe expected, a comparison may be made w ith the existing line in Auckland. Seeing that on these lines there arc many miles of unproductive country, and that the valleys of the Piako, Waitoa, and Thames are 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 tho settlement of the Patetcie country, the Provisional Directors think the comparison a fair one. 'Ihe latest returns of tho Kaipara-Tc Awamutu Railway show a net levenue ot £193 per mile per annum. This would give, on the iiiist section of thirty-eight miles, a net revenue ot £7334, °r 73 per rent, on £100,000. Estimating the revenue for the first ) car's working at only one-half that of the Kiai-para-Waikato line, 33 per cent, will be obtained, leaving only 3^ per cent, to be made up by the District Rate and Government contribution, or a little over 2,5 per cent, and under 1 poi cent, respectively. For these reasons, and for others too numerous to mention, the Provisional Diiectois feel fully justified in recommending the undertaking to the Public as a work of national as well as local importance. As an investment ot capital, it will be directl) remunerative, and the)' confidently expect the hearty support of lhe people of Auckland, both town and country, in a work which cannot tail, 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. lhe Nominal Capital of the Company is proposed to be fi.xcd at £400,000 in 400,000 Shares ot £1 each. The first issue of shares to be 200,000, on which it is not intended to call up more than 10s per Share, and it is anticipated that 5s per Share will suffice as paid-up capital, for the first section of tho Railway, because it is proposed to exercise the borrowing powers con fcrrcd 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 Irss 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 20 shares. The following Gentlemen are agents authorised to receive applications for shares, viz :—: — Joseph Newman, Auckland Alex. Saunders, Auckland Chas. Alexander, Auckland Samuel Vickers, Auckland J. Friar Clarke, Auckland Robert Fralcr, Auckland John Mowbray, Auckland Robert Home, Auckland J. B. JMorpeth, Auckland j. M. Lennox, Auckland Wm. Flood, Auckland T. Wickens, Auckland l'\ G. Kwington, Auckland Kennedy Hill, Hamilton

MESSRS. W. J. HUNTER & COS. Advertisements will be ftund in tbe,secbnd column of ,o»r fourth page.

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