Page 6 Advertisements Column 2

New Zealand Herald, Volume XVIII, Issue 6253, 1 December 1881, Page 6

Prospectus. riTHAMES VALLEY AND KOTOKUA X RAILWAY COMPANY (LKUTKD). NOMINAL CAPITAL, £400.000, IN 400,000 SHAKES OF £1 EACH. PIiOVIPIO-NAX, DllcE<rrOK4l Z Hon. Jcmea Chairman. J.L Campbell, Esq., M.D. F. D. Rich, Esq. Wm. Crush Daldy, Bsq. E. P. Roche, Esq.! Jas. McCosh Clark, Esq. Thos. Peacock, Kai. Robert Ursham, Ejq. £. B. Walter, E«q. James Dilworth, Esq. Wm. Aitkea, Esq. George Holdship, Esq. Ngs Huruharu Joseph Howard, E.sq. Pelera Pniuatua John Wilion, Esq. Henere Pukuatua Tho9. Morrin, Esq. Rotobiko Haupapa Wro. Innes Taylor, Esq. W. Maihi Tβ Rangikaheke C. J. Stoue, Esq. Areiatera Te Wen A. W. K. Halcombe, Eeq. Srm Paimoi Backers : | BaDk of New Zealand. | Messrs. Jaeksor & Russell, Fort-street, Auckland. ! Ekgikeeb : ; J. Stewart, Ksii.. M. lest. C.E., late District Englneei. ISTKKIH StC.IM.IEI : Jas. St«wart. Esq., C.E. The proposed railway -Rill be about scvoiitr-four miles in length, and commences at a poia-. on the Hamilton - Thames Railway, near the town of Jloninsville. From this point It runs southward through the centre of the great valley of the Upper Thames, by a rjry easy route, for a distance of thirty-five miloo; it then mounts to the wooded plateau which divides the Upper Thames and Ta;:ranga districts; flom this it descends, by an easy route, to its UrminUß at ths town of Ohinemutu, making a further distance oi thirty nine miles. This completes an unbroken chain of railway communication between the city of Auckland and the Hot Lake district, which is the central point of attraction for tourists to 2>Tew Zealand.

The cost of the line has been estimated—after exploration—by Jas. Stewart, Esq , late District Engineer, to be £2000 per mile for the first section of thirty-five miles; of the remainder, twenty-four miles, will cost £3000 psr mile, and the remaining fifteen miles, about £4500 per mile ; making a total cost for construction (of the class of the Government railways, and exclusive of rolling stock) of £2'i9,500. The cost of buildings and rolling-stock is estimated at £SS,OOO, making a total cost of £Si7,SOO. It is proposed to construct the Railway in two Fer.. tions ; the first action of thirty-eigh» 'miles under the provisions of "The District Hallways Act, 1577," by which, on approval by the Government, the Colonial revenue is security for interest on the cost of consti JCtion and equipment, not exceeding 2 per cent., and the neighbouring lands (rated in proportion to the benefits derivable from the construction of the line) are liable for interest not exceeding a further 5 per cent., thus giving a certain interest of 7 per cent, on the investment, even if the line itself only pays working expense*. The majority of foe landholders abutting on this section haTe expressed their willingness that their properties shall be brought under the operation of "The District Railways Acs, and the Amendment Act, 1578." For the construction of the second section, passing, as it does mainly through native lands, which it is not posuible to bring under "The District Railways Acts," it is proposed to work if possible, under tho " Railways Construction and Land Act, 1531." By this Act. the Colonial Government i≤ empowered to contract with a Company for the construction of thit Railway, among others, and to grant such lands as are available as an endowment. In this cae only 25.C00 acres are available, situated in the l'atctere country. This would not be a suffi.:ieut endowment, without rating powers, to warrant the cur.struction of this section of the line, but tho native proprietors have, in addition, agreed to give a considerable arta of land to the Company. It is also proposed that '-- 0 Company should acquire, by pur-cha.-e. a further portion of native lmrts adjicent to the Hne, which may be expected to be lurgelv increased in value by it* cunstruciieu ; ar.il, with this view, the Capital of the Coraraay has been filed at a sum sufficient to include inch purchases. By this means, it is hoped the construction of the second section may be undertaken almost simultaneously with first. The prospects of immediate and very considerable tratlic on the line are its lood, or better, lb:u> can be shown on any new !ii:e in New Zealand. The rapid strides made during the last few years in the Upper has a power of production and of supporting a large population in proportion to its aroa—equil to almost any other par: of .he colonv. The proj cted railway line will open up an area of "from 1,500,000 to 2,'.oj,uuu of acres of a-vaiUule Und, -i large portion ready for immediate oecupAtion, l>utai present wholly unoccupied, owing partly to the want of means of communication, and partlv to the fact that a portion of this territory has but recently been acquired from the native owners. The settlement of this extensive area must Urge import traffic, and year by year,' as settlement progresses, the export traffic of grain, stock, and other produce must also increase to very large dimensions. But, independently of the ordinary sources of supply towards a railway traSic which agricultural and pastoral settlement of th"> country affords, there are special reasons which justify the expectation of an unusually rapid development of a varied, extensive, and paying business on this line. It is no-.v generally known that the purchasers of the lands known as lh Patetere District are taking active steps towards th immediate colonization, by comparatively gmr.ll bolden. of the whole of the lands they have scqui.--.-d, or are acquiring, through the agency of a powerful company in England. The importations consequent on the introduction of a largo population cannot faii to be very considerable during the —rst vears of their settlement. Again, the linein its coarse toObinemutu, taps a valuable forest of magnificent timber, from which —as soon as the line is completed so far—the wh le of the Upper Thames and Waikato districts will undoubtedly draw their supplies of timber for house bui ding, fencing, and fuel; and last, bat certainly no; least, the large and ever increasing stream of tourists visiting New Zealand from all parts of the world, attracted by the wonders of Obinemntu and Kotoinahana, will certainly prefer to use this line of railway, which will convey tliem easily in one short day froi the city of Auckland to the Hot Springs, by an aisy the exceptional of a large passenger tnsc at once, quite irrespective of the crdinarv passenger traffic of the country. It may also be point«l out that for a distance of fully forty miles tue liaeproposed must, at a future and nectin'g Auckland with Xapier and Wellington, through the interior of the island. Regarding the traffic which may be expected, a comparison may be made with the existing line in Auckland. Sseiiig that on these line-! there are many miles of u-jprodK:tive country, and that the valleys of the Pi-iko, Waitoa, and Thames are largely •et-.k-d and stocked (and by the time the line is open may be expected to be fully so), looking al3o to the scheme for the settlement of the Patetere country, the Provisional Directors tiank the comparison a fa'ir one. The latest returns of the Kaipara-Te Awamutu Railway show a net revenue of £193 per mile per anuum. This wuuld give, on the first section of thirty-eight miles, a net revenue of £7334, or 74 per cent, on £10D,0«0. Estimating the revenue for tha first year's working at only one-half that of the Kai-para-Waikato line, 03 per cent. =rill be obtained, leaving only 3J per cent, to bo made up by the District Rate and Government contribution, or a'little over 2J I per cent, and nnder 1 per cent, respectively. For these reasons, and for others too numerous to mention, the Provisional Directors feel fully justified in recommending the undertaking to the Public as a work of national as well as local importance. A3 an investment of capital, it will be I directly remunerative, and they confidently expect the hearty support of the people of Auckland, both town and country, in a work which canno , . fail, immediately on its completion, to add, as no 0 ie undertaking has added before, to the population, production, and the import and export trade of the whole Provincial District The Nominal Capital of the Company it proposed to be fixed at £400,000, in 400,000 Shares of £1 each The ,' first issue of Shares to be 200,000. on which it is not intended to call up more than 10s per Share, and it is anticipated that 6s per Share will suffice as pai.l-up capital, for the drst section of the Railway, because it is proposed to exercise the borrowing "powers conferred by the Acts. On the prosecution of the second section, it wili be a question whether to issue more Shvres, or make further calls on those already issued The payments on the first issue to bo Is on'applicntion ; and the balance by Calls of Is each, at intervals of not less than two months. Applications for Shares to be made to the Secre t.iry. Shortland-stroet, or through authorised aseou. 70,000 Shares have already been taken by 32 subscribers, in amounts not less than 1000. As it is anticipated that the whole of the Shares will be rapidly taken up, early application will be necessarr Priority of application will be a factor in the allotment of shares by iho Director}'. No Application will be received for less than 20 Shares. The following Gentlemen are Agents authorised to reeoive applications for Sharjs, viz. :— Joseph Newman, Auckland Alex. Sannders, Auckland Chas. Alexander, Auckland Samuel Vickers, Auckland J. Friar Clarke, Auckland Robert Frater, Auckland John Mowbray, Auckland Robert Home, Auckland J. B. Morpeth, Auckland J. M. Lennox, Auckland Wm. Flood, Auckland J. Wickene, Auckland F. G. Ewington, Auckland Kennedy Hill, Bamiiton