AUCKLAND AND DEVONPORT TRAMWAYS.

Auckland Star, Volume XXX, Issue 55, 7 March 1899, Page 4

AUCKLAND AND DEVONPORT TRAMWAYS.

TAKEN OVER BY A NEW COMPANY. The new company called The British ' Electric Traction Company, which is about to take .over. the Auckland Tramways and to construct an electric tramway between Devonport and Lake Takapuna, is a branch of one of the most powerful companies in Great x Britain. The capital (paid up) of the sub-company is £000,000. Sir Charles Wilson, C.8., G.C.M.G., the President t of the Canadian-Pacific Railway, who is the chairman of the new company, is one of the ablest financiers m the Empire. We learn from Mr W. J-' . Napisr, who has been appointed local solicitor of the company, that !Mr Epstein's interest in the Auckland Tramways has been purchased. Thui means the unexpired term of the lease, viz., six years of the city and 20 ■ ' years of the suburban sections. Mr Bingham, who secured an option for two years from the City Council, is not connected with the new company and his option will expire in 1& months, when, unless in the interval he surrenders his option to the new company, fresh proposals will be made to the City Council. Th option to construct tramways at Devonport and to light the borough with electricity, has also been secured by the newconi" ;■ pany. Mr Napier says proposals will _. also be submitted to light Auckland and the quays, wharves, and docks ■with electricity. The other directors are Sir C. W. Freemantle, K.C.B. (who visited Auckland some years ago), ihe-■s■■s!;<, Earl of Suffolk, and Mr E. Gareke, the > great London electrical engineer.- Mr Paul Hansen has been" appointed general manager for Australasia of the ■'; new company. It is proposed to ex- /' tend the parent company's operations ;' 3 to the other cities of New Zealand arid all parts- of Australia. Mr Napier is now engaged examiningl the titles to ~ the tramways, etc.. preparatory to the execution of the necessary deeds and. legal formalities .to effect the transfer of the properties. |