PROPOSED RAILWAY.

Grey River Argus, 18 July 1922, Page 6

PROPOSED RAILWAY.

BENEFIT FOR TIMBER CONCERNS. ROTORUA—TAUPO LINE. WELLINGTON, July 17. A royal commission, which has been hearing evidence re tho construction of a Government railway from Rotorua to Taupo, is now sitting at Wellington. Ono of the witnesses, 11. P. Knutson, of the Government Railway Department, giving evidence as to the value <>f timber in the district, said it would not surprise him to hear one owner hml paid £5Oll for his bush. Counsel .said that the owner was now asking £170,500 for it, within 18 months of acquiring it. Witness said lie. thought that price was reasonable. Mr Dal.ziell, Chairman of the Taupo Timber Coy., said his Company had never made any losses, but it had not been able to set aside a sinking fund. They were satisfied they would get their money back, and six per cent., but they wanted the Government to determ in-e its future policy, so that they might know where they were. There was no suggestion that the Government should buy their railway line, and they were not asking for any concessions, or help. If the line was to be Jhoy must limit carriage for settlers to those things they could conveniently carry with the present rolling stock. RICH TAUPO TIMBER. LARGE ENGLISH MILLING COY. TAUMARUNUT, July 15. It was stated at a local function that £70,000 has been, found by a group of English financiers who are floating a large timber company to take over the Tongariro Timber Company’s obligations. Already £6OOO has been paid to the natives in royalties, and £35,000 will be paid in September, while £30,000 will be available for the construction of the first miles of the railway between Kakahi and Lake Taupo. The railway must be completed to Lake Taupo by 1928. Kakahi Junction, on the Main Trunk, is nine miles from Taumarunui.