MIDLAND RAILWAY.

Auckland Star, Volume XXXII, Issue 131, 4 June 1901, Page 4

MIDLAND RAILWAY.

(By Telegraph.—Press Association.)

WELLINGTON, this day.

There has been a new development in connection with the Railway Commission's enquiry, which* is * now proceeding, and which was thought to be on the point of completion. Ths Government has enlarged the Commission, and the counsel for the debenture holders to-night received a copy of the' new Commission. The Commissioners had to find what tlie company had properly spent upon construction and what had been contributed by the Crown for the purpose. Then it was to be determined in what proportions the Crown debenture holders and the company were to share the value of the line. The division of selling value was to be on the basis of the proportion that each party had contributed to the construction value. . By the new Commission the Commissioners are directed to find the selling value, but they are -further directed to deduct therefrom the whole amount derived from the sale of the land granted to the company and its successors. In arriving at the selling value the .Commissioners have to sup-, pose the line is sold as it stands. From this selling value the whole amount derived from the sale of the land is to be deducted.

At sitting of the Midland Railway Commission Dr. Findlay. for the company, put in an amended statement of the amount claimed to have been spent by the company on the construction and equipment, of the .railway. The sum t| now £770,273, as compared with -_• original statement of £1,338,000.