MIDLAND RAILWAY
By Telegraph—Press Association. Wellington, last night. Tho Midland Bailway Commission roport, which has been laid on the table of the House, states that the various sections of the railway constructed by the Company eos.t £1,i08,625. The Commissioners found that the amount expended by the Company on administration, supervision, salaries, interest, etc., was out of all pro. portion to tho cost of construction, and therefore fixed the reasonable cost of the lines at J-674,784, instead oi £1,1Q5,625. The Commissioners' assessed tho selling value of the sections from Stillwater to Beef ton, and from Brunnerton to Jackson at £192,533, which they reduced to £155,633 under the extended order of reference of June Ist. The sum total of the value of lands and moneys provided by the Crown being £350.749, the Commissioners report that under this process nothing remains for the debenture-holders or shareholders.
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Bibliographic details
Gisborne Times, Volume VI, Issue 147, 3 July 1901, Page 3
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143MIDLAND RAILWAY Gisborne Times, Volume VI, Issue 147, 3 July 1901, Page 3
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