THE MIDLAND RAILWAY.
(BT'TKLEeRAPH. — PARLIAMENTARY. BE
PORTEE.)
Wellington, this day,, < Tdß position of affairs in connection witsfa. the Midland Railway is nofc very promising from the point of view, of shareholders and debenture-holders. Since the Government took over the line a-year ago, it has worked it and proceeded with construction, but operations'Bo far have resulted in a debib balance against the Government: of some £2,000. If the claim made by the Govern-, xneub against the, Company ia nofc paid by September next), the-line will vest absolutely in Her Majesty. The action of the debenture-holders in appointing a receiver has complicated matters, as the Government has to pay over receipts to that gentleman. There is no reason to suppose thab the Government will make any proposal to the Company or the debenture holders. Sir R. Stout, who is acting as cMrisol for the Government in Midland Railway matters, has resolved nob to sit on jbhe Public Accounts Committee when the two petitions are being considered.
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Bibliographic details
Auckland Star, Volume XXVII, Issue 167, 17 July 1896, Page 8
Word Count
164THE MIDLAND RAILWAY. Auckland Star, Volume XXVII, Issue 167, 17 July 1896, Page 8
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