Page 4 Advertisements Column 3

Waikato Times, Volume XVII, Issue 1466, 24 November 1881, Page 4

Notices.

THAMES VALLEY AND KOTORUA RAILWAY COMPANY (LIMITED). NOMINAL CAPITAL, £400,000, IN 400,000 SHARES OF OF £1 EACH. Provisional Directors : Hon. Tames Williamson, Chairman. J, L. Campbell, Esq.. M.D. F. D.Kich, Esq. Wm. Crush JDaldy. Esq. E. F. Roche, hsq Jas. McCosh Claik, Ebq. Thos. Peacock, tsq. Robert Graham, Esq. E. B. AValkcr, Esq. James Dihvorth, Esq. Wm, Aitkin, Esq. George Holdship, Esq. Nga Huruhuru Joseph Howard, Ebq. Petera Pukuatua John WiUon, Esq Hcnerc Pukuatua fhos. Morrin, Esq. Rotoluko Haup.ipa Win. Innes laylor, Esq. Arekatcra Te Wera C. J. Stone, Esq. EiuPaimoi A. W. F. Halcombe, Esq. W. Maihi Te R mgikahekc Bankl. •. ■ Rank of New Zealand. Solicitors : Messrs. Jackson and Russell, Fort-street, Auck1 md. Engixler : J. Stewart, Esq., M. Inst. C.E., late District Engineer. iNfKRIM SECRETARY! Jas. Stewart, Esq., C.E. The proposed railway will oe about seventyfour mile? in length, and commences at a point on the Hamilton-Thames Railway, near the town of Morrmsvillc. 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, bv an easy route, to its terminus at the town of Obinemutu, making a further distance ot thirty-nine miles. Ihis 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. The 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 thirty-five miles; of the remainder twenty foui 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 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 Rail.vay in two sections, the first section of thirty -eight miles under the piowsions of "The District Railways Act, 1877," by whi( h, on approval hy the Government, the Colonial revenue is security for interest on the cost ot construction and equipment, not exceeding 2 per cunt., and the neighboring lands ('rated in proportion to the benefits dcnraDlc from the construction of the line) arc 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 tne landholders abutting on this section have expressed their willingness that their pi operties 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 " Ihe District Ratlwajs Acts," it is proposed to work, if possible, under "Ihe Railwajs Construction and Land Act, 1881." Hy 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 acres arc available, situated in the Patetere country. Ihis would not be a sufficient endowment, without rating powers, to warrant the construction ot this section of the line, but the native proprietors have, in addition, agreed to give .1 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 maybe 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 ot the second section may be undertaken almost simultaneously with the first. Ihe prospects of immediate and veiy considerable traffic on the line are as good, or better, than can bo shown on any new line in New ZeaIdiid. 'Ihe rapid strides made during the last few years in the Upper lhames and Waikato districts sho»v that the country has a power of production and of supporting a large population in proportion to its area — equal to almost any other pai tof 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 a very large import traffic, and year by year, as settlement progresses, the expoit traffic of grain, stock, and other produce must also increase to very large dimensions. Hut, independently of the ordinary 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 rapjd development of a varied, extensive, and pa} ing 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 111 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 Uppei Thames and Waikato districts will undoubtedly draw their supplies of timber for house building, fenc- j ing, and fuel ; and last, but certainly not least, the largo and ever increasing stream of tourists | v lsiting New Zealand from all parts -of the world, J attracted by the wonders of Ohinemutu and Rotomniiana, will certainly prefer to use this line of railway, which will convcj them easily in one short day from the city of Auckland to tho 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 countr). [ It may also be pointed out that fora distance of I fully forty miles the line proposed must, at a future and no verj 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 maybe made with theexisting line in Auckland. Seeing that on these lines there are many miles of unproductive country, and that the valleys of tho Piako, Waitoa, and Thames are largely settled and stocked (and by tho time the line ls'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. The latest returns of the Kaipara-Tc Aw.imutu Railway show a net revenue of £i<H P er mile per annum. This would give, on the first section of thirty-eight miles, a not rovenue ot £7334, or 7^ per rent, on £100,000. Estimating tho revenue for the first year'b working at only one-half that of tho Kaipai. 1- Waikato line, 3J 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] per cent, and under 1 per cent, icspoctivcly. 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 woik 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 undei taking has added before, to the population, production, and the import and export trade ot the vyhole Provincial District. The Nominal Capital of the Company is proposed to be fixed at £400,000 in 400,000 Shares of £1 each. The first issvie of shares to be 200,000, on which it is not intended to_ call up more than 10s per Share, and it js anticipated that 5s per Share will suffice as paid-up capital, for tho first section of the Railway, because it is proposed to oxerciio tho borrowing powers con ferred by the Acti. On tho prosecution of the second section, it will be a question whether to issue more Shares, or make further calls on those already issued. Ihe 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 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 1. Friar Clarke, Auckland obert Frater, Auckland John Movvbray, Auckland Robert Home, Auckland J. B. Morpeth, Auckland J. M. Lennox, Auckland Wm. Flood, Auckland J. Wickens, Auckland . G. Ewinjjton, Auckland Kennedy Hill, Hamilton

MESSRS. W. J. HUNTER & COS. Advertisements will be f-rund in the second column of osr fourth page.

D~ EY AND FRENCH have On SalePrime Salt Batter, Cheese, Potted Meats,