ABRIDGED PROSPECTUS Of WAIRAKEI LIMITED.

Dominion, Volume 13, Issue 8, 4 October 1919, Page 3

ABRIDGED PROSPECTUS Of WAIRAKEI LIMITED.

AUTHORISED CAPITAL ... £10C.0D0. • DIVIDED INTO 100,000 SHARES OF THE PAR VALUE OF £1 EACH,

PROVISIONAL DIRECTORS: (To hold office until the first statutory meeting of the Company.) JOHN EANKEN HEED, K.C., Barrister, Auckland. JAMES ROLLESTON, Manager Grand Hotel, Aucklund. ROBERT MARTIN' BEATTIE, Medical Practitioner, Auckland. ' * - BANKERS: THE NATIONAL BANE OF NEW ZEALAND, LIMITED. SOLICITORS: WAKE AND ANDERSON, High Street, Auckland. AUDITOR: G. W. HUTCHISON, Wyndham Street, Auckland. ARCHITECTS: CLEEE (P.E.1.8.A.) AND WILLIAMS (A.R.1.8.A). , SECRETARY: JOHN .G. EESTELL, Secretary, Safo Deposit Buildings, Auckland. .WELLINGTON SUBSCRIPTION LIST IS NOW OPEN.

THE COMPANY. The Company ilias been formed to provido the necessary capital to purchase for the sum of .£">0,000 the Freehold of 1093 acres of land at Wairakei in Thermal Springs District of New Zealand, upon which are situated tho finest natural thermal wonders in tlhe world; ALSO to'jyirchase the license, improvements, and buildings, together with tho goodwill and business of the Geyser House Hotel thereon, AND ALSO to provide funds for improvement and developmental purposes, with iv view to carrying on the said business r.s a Tourist and Health Resort for such period as may be advisable and ultimately selling or leasing tihe proposed township allotments, the thermal and tho said business, and subdividing and reselling tho remainder of the estate in large or 6mall holdings at a profit as may be deemed advisable. THE PROPERTY. It is universally admitted that the Wairakei Estate contains THE FINEST and MOST VARIED SELECTION OF THERMAL and SCENIC WONDERS in EXISTENCE. It is a property the like of which is not privately-owned in any other part of tho world, and has an ENORMOUS PROSPECTIVE VALUE. Tho Title is Land Transfer, ivlhich is tho best title obtainable in New Zealand, and the area comprises 1C93 acres. SITUATION. The nearest boundary of tlie Wairakei Estate lies about three miles North from tho Township of Taupo, tho Hotel being situated in ft pleasant valley six miles north from Taupo and fifty miles from Rotorua. IT IS THE CENTRE OF THE THERMAL SPRINGS DISTRICT, and several lines of communication converge at Wairakei. From ROTORUA there is a daily motor service to Wairakei. RAILWAYS. Taupo Totara Timber Company's railway runs from Putaruru to Mokai, and conveyswithin fourteen miles of the Wairakei Hotel.' The surveyed .route of the line to Taupo runs for some considerable distance through tho Wairakei Estate, and tho Company has asked permission to erect a railway , nn<l. goods station close to tho Wairakei Hotel. It is expected that the line will bo commenced in the near future. This project, when completed, will enormously raise the value of the Estate, AND WILL BRING WAIRAKIiI WITHIN EIGHT OR NINE HOURS BY RAIL OF AUCKLAND. I IMPROVEMENTS. The present buildings cousist of the premises known as the Geyser Hotol, Wairakoi, of a Post and Telegraph Office, General Qrqcery and Drapery Store, Kitchen, Stables, and Motor Garago, etc. They are pieasuntly situated among well-grown trees, bat do not give sufficient accommodation l'or the rapidlyiiicreiiijinp traffic, and tho greatest item ot expenditure for the Company to faco will Ims 'hi* tho provision of modern accommodation for all classes of tourist traffic. An attractive building scheme will incorporate the present erections and make adequate and up-to-date provision for from ISO to 200 guests. The 6chemo also provides for the laying out .of golf links, tennis and croquet .lawns, and bowling greens, Tho clearing of the x banks of tho AVaikato, which, for a considorahlo distance is the boundary of tho property, will make available to anglers the finest ily-iishing fli the world. BATH HOUSES. There are at present four Bath 'Houses. These will be increased and improved, and will all bfi easily accessible from the Hotol. There is an orchard with about 500 trees, which bear excellent; apples, pears, ar.d other 1 fruits, de-" monstraliiig the fact that fruit and a good supply of vegetables, grass and ccrcal6 can be grown on the premises. CLIMATE. The climate of the district is one of tho most bracing and recuperating in the Dominion. PROSPECTIVE VALUE, So much for the personal aspect, which in itself demonstrates that the Company will acquire good value in assets for its outlay. But It Is in its prospective undeveloped resources that the groatost value ot Wairakei lias, and it is with the object of exploiting and realising in tln> near future the advantage of this undeveloped wealth that this Company is.being formeci. The prospective value of Wairakei may bo considered under the following heads:—(l) Township; (2) development of tourist traffic; (3) railway increment; ..(4) water power. •; TOWNSHIP'. ™iJ h VM e °f proposed township has been well chosen. The prospective • 1 i , ! llp a fnormous, and numbers, of'people-local and olheinise—have in limited their desire of taking up sections as icon as . thev are 111 e !': Wl i u WO . U J (I il , av ® ventured to predict some thirty years . J t^. i,nte ) )petlv | vn 110 the Rotorua township allotments was likely to become. , llioy were ottered to the public oil a 99 vears' lease at rentals ramr""hat was % v To"" TTl' f° higllC3t p " ce fetciled at allction was on it woitViwnhl'K n--n 8 , I' lor one of allotments, with stables on it ttoitJ piobi blv J, (a o or less, the enormous GOODWILL of >8000 is asked streets'Tu'iisTiito \ r W Pm 8, The Qoodwill for 6a ' liolls of the maiu Ii imenhr( nim»7fh>wi ? S i 5 1 ™ 1 ' 11 uv,dence ? ive » bef «'e a Select ParSki ComnnUce - Wlaf ll!,pi,elle(1 111 tha case of Rotorua will happen at tmririhfo allotments at the Wairakei m S "'ITn pip viup • ONLi J •- 00 AT A UENwruiifl im "i tho derivable from this source alone Tin'- tot\t r&i? A.mons.oP 5 p.c. interest on sidi'i' liinrfwro- fi COMPANY for the township alone. COll- - 'ri enormous increase in the value of tho Freehold of If on?v i thniKanS M°|" I<l F AV' 1 11,0 timc ' 0r P«t'it another way. aoe nL nf pfn a ' lot " ients - that is less than hall, were sold at an aveinriirrfL ci.o^^M, 1 ' 4 l he r i tu , rn , wo , uld be £50 - 00D ' whic| i alone would won Id hn un i?n H i 1? rS M of . {lieil, purchase money back, and they wbmNi.? nnH P h.» n a ,y « ho|e t , of the Freehold, including the Hotel and nrnfit Th,. H an . t ' a ' so . the whol.y of its thermal wonders loft as formation of the Company.™ VaiU ° ln ' the Pr ° P ° Se(l bn,n?l,il ' al ° lle jußtifi(!S the inn^nSh^'i?^ 1 ' v 7 a,u , e Rotorua Township (4180 acres) was accordthousairi iml Si, ♦? i \?* r 800k ' tno sum of Four for £snnnn a • roe a /1 s of ,. tlle Wairakei Fresnold is being purchased the development of offers, Wi " en ° rm ° US P ° ssibilities DEVELOPMENT OF TOURIST TRAFFIC 10 WAIRAKEI. \ nnetwinLn? iffi ° f col " m «™ a tion and want of advertising, not one-twentieth of the visitors to Rotorua reaches Wairakei. When tho rail--lintprll"l 1" Hn 1 ? 1 'Inn!' !° ; l ln)ke ) 1 ' fln , (l ~ vj th judicious advertising, it is estiu'irtir- iLit ' f if? 0 Btra ' B,l . t J ' or Wnlrak e i . making it their headqiuittu, instead ot ior Rotorua, as at present. Undoubtedly, Wairakei melton J aLf" B «ti at ( trac J l ® nß I{ °t ol '» a ' Mr. D. Buick, M.P. for Pal-' nt ■ : 7" • tourist will see as many thermal wonders in two .imwVifi, n if" 1 -f l , " s , 10 . Wol, l ll a t Loiorim in two days." Judicious c.t----c lll °° ca P't. al '» l«yng out gardens, lawns, golf links, fowling greens, hotemakS ilni,rovemc,lls ' will W'in'kei the Mecca of sightr time, "o,oo° nconle visit in Ihe roar. Many stav W.S,?"ir? " u, "l"s. but assuming ll,at only half that number conies ,L, pipniii b '' V °V y i? ? ys , f'P S''oss return'would amount to (.lose oji 130,000 a year irom the 110111 and sights only. 11,/ I ,'!!im.rl 1 rv o ,w. l ° ' ) P I consW «'«l the return to, be derived from exploiting ,n, 1 in: li',? ' f lnt ' h " rc , " u ' xll,uilit ble ' <'onsidoi-ed second to none fron. W. V,l eT ? V ' CW " n<l 'I'' 0 ol),i,inal -' l '' !«>m both Geyser Valley and ten fnr iinni i.M« fm' ii ' U '° *i' n 'V'" U) ; ril "» nl ''tism, sciatica, gout, antiiligisill" that flosii is heir """ 1 ' helnillltlsw ~ ;l1 llict - for almost all the RAILWAY INCREMENT. H, n 'l'.,;i",'°v "p roaso . in va !"° "'J'st of necessity accrue from the completion of }™J; !! ln,, " K ''" U ? rn ,':! 1 . I 3 Wi " l,u as thp eheapeninij of will"i ■!' in ii ~| "'u , | ~lul '•"''•l's'fa to bo Jjrouaiic a ivasonable pi-ices ana will lusiilt m the develypmeut of tlu wholo ii:suia.

There are over 4000 ecrea of Freehold, &ad these can lie cut up into suitable tarms and sold at a Rood price or leased, sufficient land being retained by the Company to supply all the requirements of tho Hotel in the way of meat, potatoes, grain, fruit, vigc-iables, milk, buttor, eggs, otc. 'Tho possibilities of the soil are just becoming recognised, and far-seeing men arc now taking up lots of land in Anticipation of tho early increase in vaiue. * WATER POWER, power is at present running to waste through tho Hotel grounds; sufficient to provide the Hotel with electricity for lighting and cooking and to fiupp.y power for the township. There is also an enormous prospective value for Wairakei in its water energy as a commercial asset. This water power cannot be utilised -under license from the Grown, but it. is not anticipated that there would be any difficulty in obtaining a license. It has been estimated that 76,000 horse-power could'be derived trorn the Huka Mb alone and an even greater supply from the Amtiatia Rapids. Mr. P. s. Hay, late Supt, Engineer of. tho Public Works Department of the iloimnion, reported to the Government on the onitalrility of utilising tho Huka I'alls. Enough iiower could 'bo obtained from the Huka Falls and Arntiatia' liapids to run tho-railway? of the North Island with electricity. Such a" development would make Waiiakei one of the largest and most important inland towns m tho Dominion, INCOMPARABLE VALUES. n What value can be placed on the Freehold of the Incomparable Wairakei • Property? Firstly, there is the Famous Wairakei Valley, one half of which containing the most, wonderful sights, is on the Estate, tho other half boloneini? to the Crown. ' Then tho Karapiti Blow-hole, said by Sir James Hector to be the safety-valve of New Zealand. Next tlie Wai-Ora VaMoy, a further combination: of iemarkable and beautiful Thermal AVonders, all of whioh are on the Estate The Huka Fafls form one boundary of tlio Wairakei Kstate. Within three and n-half miles of tho Hotel are tho Beau tiful Aratiatia lipids, and within easy distance. Taupo; also Orakeikorako (with its sights and lAlum Cave), and Hotokawa. t.io Sulphur Lake. Were this property in America it would probably be . yartica at ten times tho price at which th is Company is purchasing, and yet there >is j «st as bisr a profit to bo iliado therefrom in tin's part of the world, as in any other. There is not the slightest doubt that in the hands of a company able to develop tho property, Wairakei will prove an undoubted bonanza—a veritable go:d-nnno-not only for its township prospects, but also its tourist traffio, ita health Tosort, ita residential, agricultural and pastoral possibilities, end its ' onormous source of electrical! energy l and power.' Applications for shares.should be made without delay on tho forms supplied direct from the Company's Office; or through its special representatives. The terms of subscription have been jnado exceptionally easy, viz., ss. per share on application; ss. on allotment, and ss. in six and twelve months respectively from dato of. allotment. FIRST SUBSCRIBERS TO WAIRAKEI LIMITED. D. W. DTJTIIIE, General Manager, Nat ional Bank of N.Z., Wellington. JOHN GAVIN DUNCAN (LsTin and Co.), Merchant, Wellington. . JOHN RANKEN HEED 0t.0.), Auckland. WILLW.iI. BRACK LEYLANS, Timber Merchant, Auckland. ROBERT MARTIN BBATTDS, Medical Practitioner,-■ Auckland. ROBERN BURNS, Auckland Kanager, Thos. Coot and Son, Tourist Agentei SOME OPINIONS OF WAIRAKEI. From Fred, Earl, K.C., Auckland: Wairakei is unquestionably the most remarkable 6pot in a most remarkabll district. The portion of block surveyed for . a township Beemß well chosen ill every way, and there is no question that as soon as the unique character of the place becomes generally known, the allotments will bo taken up with aridity.' ' Wairakei has undoubtedly a great future. From Mr, Robert M'Farland, Authorised Surveyor; Tho attractive and natural wonders of Wairakei exceed in number and variety those of Rotorua and Rotomahana, and include geysers, boiling cauldrons. hot springs and streams! and volcanoes, fumaroles, and the Huka Palls of th# Waiiato River. The land comprising the W'airakoi Block is generally undulating and fertile. The township is conveniently and well situated, and I may say that I have laid oft many important townships in tho Auckland Provincial District during a residence of 23 years, and very few, if any, have greater prospects than Wairakei. From Mr. ,S. Percy Smith, late Surveyor-General, N.Z.i Wairakei, from its situation and surroundings, must inevitably become in the near future ajrorld-v.-ide resort for health and pleasure. The number and variety of the springs in this and'the immediato neighbourhood is very great. Situated at an elevation of about a, thousand feet alxue sea-level, and near th# centre of the North Island> its climate ia cool and b:'aoing in summer-time whilst the clear atmosphere tqnds greatly to enhance the oharm of the fine sooner}' to be found Tound Lake Taupo and its neighbourhood, from which Wairakei is distant only some four or five miles. The site of the township lias bwn well chosen, in close proximity to the springs, , on a. fine, dry plain, with hills rising on thw* sides,-and the trees, whioh have been planted, have clothed the lower spurs in evergreen woods, making- th* place very beautiful. • ' From the Hon. James MacAndrow, M.H.R. (Formerly Superintendent of Aha Province of Otago). Tho more one thinks about Wairakei the mare marvellous does it teem. I> i is, to my mind, in many respects more attractive than Rotorua, even as tm«l ' sight-seeing locality, while it presents advantages in-respect of residence site* and cultivation with which there is nothing at Rotorua at all to be oompajed. You are certainly to be congratulated upon being the possessor of such a prp- . porty, the liko of which I venture to think is not owned by any other prtva,M individual in any part of the Empire. A well-known literary man to Iriom. X was. describing it says: If Graham continues to hold it his grandchildren will bj . billionaires; its prospective value ia absolutely incalculable. From Mr, Howard Vincent, late Director of the Criminal Investigation Dept., London. Wairakei concentrates into a vfcry limited area tho greatest marvels of th« earth. Their origin is involved in mystery, as the close confinement of their dangerous elements. What produced the thud of tho ''Donkey-engine in the Hill-side?"" What is it that brings about tho regular thud of a steam hammer deep in the ground? These are questions for men of science to study and argue. The result is marvellous to 6ee, awful to hear, and more wonderful-qs. th«» jets of boiling water, the pools of boiling mud, the bottomless pit belching 1 forth ' masses of dense steam, abound in the midst.of luxuriant vegetation of southern latitudes. But there is far more. In the glorious air, in the-baths of all degrees of temperature—some mineral, somo plain—in tlie surrounding oountryj in the Huka Falls; the overworked can find rest, tho sick man Dew health, th« pedestrian exorcise and sport, the artist subjeot for his pencil. Wairakei has a boundless future. Already 61,000 Shares have been applied for. A proportion of the balance has boen allotted to the Wellington Provincial District, and if the applications exceed the number available these shares will be issued in proportion to tho number applied for by each subscriber.' TEMPORARY WELLINGTON OFFICE: Care MESSRS. CLERE AND WILLIAMS. 157, leatherston Street. Where, the fullest information may bo obtained, and applications for * Shares received. v