Page 4 Advertisements Column 3

Waikato Times, Volume XVII, Issue 1473, 10 December 1881, Page 4

Notices. rPHAMES VALLEY AND JL ROrOKUA RAILWAY COMPANY (LIMITED). NOMINAL CAPITAL, £400,000, IN 400,000 bHARES OF OF £1 EACH. PROVIStONM. DIRKCTOKS '. Hon. J^mei Williamson, Chairman. J. L. Campboll, Esq., M.D. ¥. D.Rich, Esq. V\ m. Cruhh Daldj, lis.q. K. 1". Koche, liMj Jas. .UoCosh CKuk, Esq. LhOs. Peacock, bsq. Robert Graham, Esq. E. ]}. VValker, Esq. James Diluonh, Esq. Wm. Aitkin, Esq. George Holdblnp, Esq. N^a. Hiiruhuru Joseph Howard, Ekq. Petcra Pukuatua Juhn \\ ilson, Esq Henerc Pukuatua 1 hub. Mori in, Esq. Rotohiko Plaupapa \\ m. limes laylor, Esq. Arekatura ie Wei a C. J. btone, Esq. EitiPaimoi A. AY, F. Halcombe, Esq. W. Maihi Te Rangikaheke Bankuk*; • Hank of New /^aland. boncnoßS : Messrs. Jackson and Russell, Fort-street, Auckland. Em.is-kfr ; J. Stewart, E.g., M lust. C.E., late District Engineer. INII'.RIM bECRETARY: Jas. Stewart, Esq., C.E. The proposed railway will be about seventyfour miles in length, and commences at a point on the Hamilton- ihames Railway, near the town of Morrinsville. 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 tbe town of Ohinemutu, making a further distance oi thirty-nine miles. This completes an unbroken chain of railway communication between the city oi Auckland and the Hot Lake district, which is the central point of attraction for touriits to New Zealand. The cost of the line has been estimated— after exploration— by Jas. Stewart, Esq., late District Enffineerj 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 (ot the class ot the Government railwajs, and exclushe of rolling stock) oi £209,500. Ihe cost of buildings and rolling-stock is estimated at £38,000, making ,1 total tost oi £247,500. It is propo>ed to construct the Railway in two sections: the lust section of thirty-eight miles under the provisions of " The District Railways Act, 1^77," b) which, on approval by the Go\ernment, the Colonial revenue is security for interest on the cost of construction and equipment, not exceeding 2 per cent., and the neighboring lands (rated in proportion to the benefits derivable trom 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 paj* working expenses. The majority ot tne landholders abutting on this section have 1 expressed their willingness that their pi operties shall be brought under the operation of " The Distuct Railways Act, cind the Amendment Act, 1878." Fcrthe construction of the second section, passing, as it does, mainly through native lands, which it is not possible to bring under " Ihe District Railwajs Acts," it is proposed to work, if possible, under "'lbe Railwajs Construction aud Land Act, 1881." By this Act, the Colonial Government is empowered to contract with a Company foi tho construction of this Railway, among others, and to grant such lands as are available as an endowment. In this case only 28,000 acics arc available, situated in the Patctere country. This would not bo a sufficient endowment, without rating powers, to warrant tho construction ot this section of the line, but tne native proprietors nave, 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 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 hxed at a sum sufficient to include such purchases. Uy this means, it is hoped the construrtion of the second section may be undertaken almost simultaneously with the hrst. The prospects 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. Ihe rapid strides made during the last few jears in the Upper Thames and Waikato distri( ts show that the country has a power of production and of supporting a large population in proportion to its aiea— equal to almost any other pait of the colony. Ihe 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 whclly unoccupied, owing partly to the want ot means of communication, and partly to the fact that a portion ot this territory has but recently been acquired from the native owners. The settlement of this extensive area must necessarily for some jears to come create a very large import traffic, and year by j'eai, absettlementprogresses, the export traffic 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 Vthicc 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 businesi on this lino. It is now generally known that the purchasers of the lands known as the Patetere Dibtnct arc taking active steps towards the immediate colonisation by comparatively small holders ot the whole oi the lands they h.-ne acquired, or are acquiring, through the agency 'of a powerful company in EngUnd. 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, irom which— as soon as the line is ( ompleted 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 tourists 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 Hot 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 countrj'. It may also be pointed out that for a distance of iully iorty miles the line proposed must, at a future and no very distant date, form part_ of the mam line connecting Auckland with Napier and Wellington, through the interior of tho island. Regarding the traffic which maybe expected, a comparison may be made with the existing line in Auckland. Seeing that on theselines there are man} 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 iully 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 Kaip;ira-Te Awamutu Railway show a net revenue or £193 per mile per annum. This would give, on the tir^t section of thirty-eight miles, a net revenue ot £7334, or 7$ per cent, on £100,000. Estimating the levenuc for the first year's woiking at only one-half that of the Kaipara- Waikato line, 3? 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 2J 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 j the population, production, and the import and ! export trade ot the whole Provincial District. j The Nominal Capital of the Company is pro- j posed to be fixed at £490,000 in 400,000 Shares of £1 each, The first issue of shares to Jbe 200,000, on which it is not intended to call up more than ios per Share, and it is anticipated that ss per Share will suffice as paid-up capital, for the first section of the Railway, because it is proposed to exercise the borrowing powers conferred 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 lnss than twd months. ' ' ■ < Applications for Shares tp 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 ithan 20 shares. The following Gentlemen arc 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 Frater, Auckland John Mowbray, Adcktend Robert Home, Auckland T. B. Morpeth, Auckland , J. M. Lennox, Auckland , > f -~ ' Win. Flood, Auckland J. Wickens,' Auckland F. G. JSwington-, Auckland - * Kennedy.Hill, Hamilton , . ' MR. J, S. BUCKLAND'S Advertise - mente-WU.W>e iound in the seventh, ohimniofctjhe;thiiy4p.»ge. ' lVl^%^ente^U ft£frigt ,fa