Page 8 Advertisements Column 7

New Zealand Herald, Volume XVIII, Issue 6255, 3 December 1881, Page 8

Public Companies. Thames valley and rotorua RAILWAY COMPANY (LIMITED). NOMINAL CAPITAL, £400.000, IN 400,000 SHARES OF £1 EACH. Provisional Dikboxors : Hon. James Williamson. Cfcairman. J.L. Campbell, Esq., M.D. F. D. Rich, Esq. ' Wm. Crush Daldy, Esq. E. F. Roche, E*q.l Jas. McCosh Clark, Esq. Thos. Peacock, Esq. Robert Graham, Esq. E. B. Walker, Esq. James Dilworth, Esq. Wm. Aitken, Esq. George Holdship, Esq. Nga Hnruburu Joseph Howard, Esq. Petera Pukuatua Jolin Wilson, Esq. Henore Tukuatna Thos. Morrin, Esq. Rotohiko Haupapa Wm. Innes Taylor, Esq. W. Maihl Te Rangikalieke C. J. Stone, Esq. Arekatera To Wera A. W. F. Halcombe, Esq. Eru Paimoi Bankers : Bank of New Zealand. Solicitors : Messrs. Jackson & Russell, Fort-street, Auckland. Engineer : J. Stewart, Esq., M. Inst. C.E., late District Engineer. Ixterih Secretary : Jas. Stewart, Esq., C.E. The proposed railway will be about seventy-four miles in length, and commences at a point on the Hamilton - Thames Railway, near the town of Morrinsviile. From this point it runs southward through the centre of the great valley of the Upper Thames, by a very easy route, for a distance of thirty-five miles; it then mounts to the wooded plateau which divides the Upper Thames and Tauranga districts; from this it descends, by an easy route, to its termiuus at the town of Ohinemutu, making a further distance of 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 New 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 per mile, and the remaining fifteen miles, about £4500 per mile ; making a total cost for construction (of the class of she Government railways, and exclusive of rolling stock) of £200,500. The cost of buildings and rolling-stock is estimated at : £33,000, making a total cost of £247,500. It is proposed to construct the Railway in two sec 2 tions; the tlrst section of thirty-eight miles under the provisions of "The District Railways Act, 1377," by which, on approval by the Government, the Colonial revenue is security for interest on the cost of construction and equipment, not exceeding 2 per oent., 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 expenses. The majority of the landholders abutting on this section have expressed their willingness that their properties shall be brought under the operation of "Tbe District Railways Act, and the Amendment Act, 1875," For the construction of the second section, passing, as it does mainly through native lands, which it is not possible to bring under "The District Railways A cts, it is proposed to work if possible, under the " Railways Construction and Land Act, 1881." By this Act, the Colonial Government is empowered te contract with a Company for the construction of this Railway, among others, and to grant such lands as are available as an endowment. In this cae only 28,000 acres are available, situated in the Patetere country. This would not bo a sufficieut endowment, without rating powers, to warrant the construction of this section of the line, but the native proprietors have, in addition, agreed to give a considerable area of land to the Company, it is also proposed that the Company should acquire, by purchase, a further portion of native lands adjacent to the line, which may bo expected to be largely increased in value by its construction ; and, with this view, the Capital of the Company has been fixed at a sum sufficient to include such purchasos. By tliis means, it is hoped the construction of the second section may be undertaken almost simultaneously with the first.

The prospects of immediate and very considerable I traffic on the line are as good, or better, than can be j shown on any new line in New Zealand. The rapid strides made during the last few years in tho Upper Thames and "SYaikato districts show that the country has a power of production and of supporting a large population in proportion to its area—equal to almost any other part of the colony. The projected railway line will open up an area of from 1,500,000 to 2,C00,000 of acres of available land, it large portion ready for immediate occup.ition, but at present wholly unoccupied, owing partly to the want of means of communication, and partly to the fact that a portion of this territory has but recently been acquired from tho native owners. The settlement of this extensive area must necessarily, for some years to come, create a very large import trailic, and year by year, as settlement progresses, the export trailic of grain, stock, and other produce must also increase to very large dimensions. But, independently of the ordinary sources of supply towards a railway trailic 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 now generally known that the purchasers of the lands known as th L'atetere District are taking active steps towards th immediate colonisation, by comparatively small holders, of the whole of the lands they havo acquired, or are acquiring, through the agency of a powerful company in England. The importations consequent on the introduction of a large population cannot fail to be very considerable during the first years of their settlement. Again, the line in its course to Ohinemutu, taps a valuable forest of magnificent timber, from which —as soon as the line is completed so far—the whole of the Upper Thames and Waikato districts will undoubtedly draw their supplies of timber for house building, fencing, and fuel; and last, but certainly not least, the large and ever increasing stream of tourists ▼i3iting New Zealand from all parts of the world, attracted by the wonders of Ohinemutu and Rotomahana, will certainly prefer to use this line of railway, which will convey them easily in one short day from the city of Auckland to the Hot Springs, by an easy and most interesting route, thus giving to the line the exceptional advantage of a large passenger traffic at once, quite irrespective of the ordinary passenger trailic of the country. It may also be pointed out that for a distance of fully forty miles the line proposed must, at a future and no very distant date, form part of the main line connecting Auckland with Napior and "Wellington, through the interior of the island. Regarding the trailic which may be ejected, a comparison may be made with the existing line in Auckland. Seeing that on these lines there are many miles of unproductive country, and that the valleys of the Piako, Waitoa, and Thames are largely settled and stocked (and by the time the line is open may be expected to be fully so), looking also to the scheme for the settlement of the Patetere country, the Provisional Directors think the comparison a fair one. The latest returns of the Kaipara-Te Awamutu Railway show a. net revenue of £193 per mile per annum. This would give, on tbe first section of thirty-eight miles, a net revenue of £7334, or per cent, on £100,000. Estimating the revenue for tha first year's working at only one-half that of the Kai-para-Waikato line, 33 per cent, will be obtained, leaving only per cent, to be made up by tho District Kate and Government contribution, or a little over 2£ par cent, and under 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. As an investment of capital, it will be directly remunerative, and they confidently expect the hearty support of the people of Auckland, both town and country, in a work which cannot fail, immediately on its completion, to add, as no one 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 Jtleach. 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 5s per Share will snfflce as paid-up capital, for the first section of tho Railway, because it is proposed to exercise the borrowing powers conferred by the Acts. On the prosecution of the second section, it will be a question whether to issne more Shares, or make further calls on those already issued. The payments on the first issue to be Is on application ; and the balance by Calls of Is each, at intervals of not less than two months. Applications for Shares to bo made to the Seere tary, Shortland-street, or thro ugh authorised agents. 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 necessary. Priority of application will be a factor in the allotment of shares by ihe Directory. No application will bo received for less than 20 Shares. The following Gentlemen are Agents authorised to xeceive applications for Shares, viz.: — Joseph Newman, Auckland Alex. Saunders, Auckland Chas- Alexander, Auckland Samuel Vickers, Auckland 1 J. Friar Clarke, Auckland Robert Frater, Auckland John Mowbray, Auckland Robert Ilorne, Auckland J. B. Morpeth, Auckland J. M. Lennox, Auckland Wm. Flood, Auckland J. Wickens, Auckland F. G. Ewington, Auckland Kennedy Hill, Hamilton rjIHE JjXCELSIOII ASHING gPIRI X S OF C. "WILLIAMS Returns Ills sinooro thanks to tho Public for the great miccoas that has attended this new Local Industry. Owing to the inoreasod demand, ho has Improved and Enlarged Ills appliances which will enable hi™ to giro a still purer article and execute all orders with greater promptitude. Every caro will bo taken to keep th-3 strength up to tho standard known as (050) specified gravity. Testimonials can be seen at the Works, Albert, street. Sold by all grocers 6d pint bottle. Cloansas and purifies everything washod with it IE YOU WANT TO SPEND A GUINEA WELL, GO TO THE NEW ZEALAND CLOTHING AND DRAPERY COMPANY. AND GET THREE OF THEIR WASHING VESTS. A splendid thing for summer wear. SAM DEL COOMBES Sc CO., 92, Queen-street.