RAILWAYS CONSTRUCTION BILL.

Otago Daily Times, Issue 6090, 17 August 1881, Page 2

RAILWAYS CONSTRUCTION BILL.

[Bt Telegbaph.]

(FROM OTJR OWN CORBESPONDINT.)

Wellington, Augußt 16th.

The Railways Constraction and Land Bill contains 114 clause?. It is intituled "An Ac.

to proride for the conßtractiou of railways by Joint-stook Cooipimiej, and to authorise grants of Crown lands to be made to such Companies."

The preambla reado thm: - " Whereas it would conduce to tho more speedy settlement of ihs Colony if provision wera made enabling !j .lint-stock companies to cuter into contracts

for tho construction of railways or for the construction and working thereof, upon receiving Rid for all or any of such purposes by grants of Crown lands, upon tho terms and in the manner provided by this Act: Be it therefore enacted, &c." " • The bill U divided intn five parts.

I'ari.l gives power to tho Governor-in-Conncil and companies to enter into ' contracts on tha"foliating terms and iconcfftfonV?— The Govornoi-in-Gouncil may enter into contracts with' railway companies; no-contract to bo m»de for any line^whioh does not oonueot with . Governmant railway; railway works par. i»lly made may be included in contracts • ; ctracls entered iuto by company to be .od*r awl; company to transmit plan f railway to Minister ; Governor may .-quire company to furnish all i n f or . ti.tion, 4j. urien contract entered into(Toveroor :o gaz-tto genial purport of eueh ddoir-ct; Lv<t eruor may causs compai yto siv e -ecunty ; d.r-ct th with co.rn.nt of majority of ahareh..lder» nay give seimrity; cmitraot not Co take <ff-ct till approved by General As. tembly; c .a'.ract to be binding uoleas cither uf the Houses of A^amkly pusaea a resolutlm diuapprovinp; thereof. There is also a proviso tnat iha Governor-in-CLum:!l may «l!ov«r certain jTivlieges het'ora ar'pi-:.ivsl, iiioimling powr>r to safer on lanH, to survey, and v> tHks-pr«-rnnitiAfy siep,:. If tha Orjfci.iu-Onnucil is BiftJe. then ucrtsin pn>T\.*kns of lh« Aoc &s to oi:iry ftpii o:M))j»i3s:«:ii.'n are applicablii. fxrfc II velaws to tb« co'ustruction of ntii. .»ajii by compam'eii;—Comp.iny to cause jdan of railway aud book of reference to be- made • copiei to bs deposited in publio place, to bet opan for publio inspection ; notice of deposit to be gaasttod and published ; copies of notice to

be given to owners and occupiers of land ; notiosa may ba given to principal or agent; surveyor may enter upon lund for the purpose of making Burvey; no'.ica to be gi>en to owner or occupier; damages c»jb d by sucn entry to be inado yood ; company may enter upon acd lakelands; fences to be erected in certain cases before 6ntry ; ctr.ain lands not to be entered on without consent; oompensa tion to ba (j'v<:a f°r kind taki-u fti sffectod by part 111 >if "The Pnblic Works Act, 1881." Uoti McertMnioi; amount of c.'mpflnsfttloD, aud on payment thereof, Court m-.y grant a>) ordor; wheu title doubtiul or owner absent, comp6'ia&ti»i> to ba paid to pnblic triifii.ee; compenyatiou t<be paid out o( capital of compnny ; compnny to "have mufti powers of c»Miruc:iou; gauge of railway to be threa fe»t six inches ; tight of way At railway crossing*; alteration of reads, &o. to be made without detriment to the public or to owners ; plant) of such alteration!) to be agreed upon with owna>s ; if no agreement, two notices to settle disputes; land may bt occupied temporarily; previous not ica of occu pation to be given ; justices to decide if occupation necessary, and settle conditions; occupation of Crown lauds to be arranged for in contract deed j company may make deviations; no advantage to ba taken of errors in plan or book of reference ;^ in certain cases Governor to give possession of land to com pany; company only to_ acquire a right to use Crown lands, but fee simple of such lands or any part therof may bo granted to ompiny after completion of railway, if suoh grant.eb.nU be neceesary to give effect to any tuoh contract; company to proceed forthwith with construe tion of works; Governor has powers of inspac tion of railways, &c ; company to carry out requisition of Governor; owner miy r quire small parcel of land uevered to be taken ; owner may require land temporarily occupied! to be taken; land not wanted mny ba sold by company; proceeds of sale to lorm part of capital. .Fact 111 gives compiny power to borrow money:—Company may borrow; form of mortgage debenture as is scheduled ; time and place of payment to be fixed ; interest payable not to exceed 7 per cent,; debentures and coupons transferable by delivery; agents for raising loans may be appointed; such mortgage to be first charge on railway and_ all property of company, present and prospective; directors' certificate as to amount of debt of company, and as to amount to be borrowed, to be evidence in Court; penalty for falsely sealing or signing certificates; creditors of companies to have no claim on Colonial revenue; sinking fund may be provided, and may be charged on net profits of company; sinking fund to ba apoliod to pay uff loan; company may re.borrow to pay off loan; if mortgage not paid when due, receiver may be appointed; companj's property to vest in receiver; powera for recovery of rates to vest in receiver; recaiver to give security; receiver to apply money to pay debts ; when laan paid off, receiver's power* to cease; mortgage to be a debt of thei body corporata ; Act not to authorise Governor to require mortgagee to receive principal moneys before terms agreed upon; mortgagee not to sell or apply for order to sail, without first, giving notice to Governor ; incase of purchase by Governor, moneys to be paid to company to be net balance over liabilities, and if price less than liabilities of railway, company t;o pay Governor the deficiency. Part IV authorises grants of Crown lands to companies:—When contract entered into, Governor shall cause withdrawal from vale of Crown lands adjoining proposed line 15 miles on each Bide; lands to ba withdrawn by Order-in-Council gazetted; Hand to ba surveyod; blocks to be rectangular in Bhaps, and not lees than 100 nor more than 200 acres eaoh > in area, and not to have greater frontage to line than one mile; company entitled to each alternate section; natural boundaries may be takon advantage of; progress drawings by company for land whßn complete sectioas of railway nnisbea; right of Crown to draw for equal araa; if no land adjoining line available, then land in the neighbourhood benefited by construction of railway to bo sat aside ; value of land to bo granted under this Act 3hall be calculated upon estimated market value ' thereof immediately prior to making of any contract under this Act, irrespective of any land Act or regulations made theraunder, and without regard to any prospective value that will be given to such land! by the proposed undertaking; valne to be ascertained •by the Surveyoi-general, and his certlficata in writing of such value given for purposes of any contract undsr this Act nuall be binding and conclusive, both upon the Governor-in-Council and company ; company to pay value of improvements to persons holding land ss tenant or licensee of the Crown; in case any land comprised in block to which the company is entitled is not Crown land, equal area to be set apart for company in nearest Crown lands; issue of Crown grants to com pany and terms thereof; such grants may include sites for station, &c ; maximum area of Crown l&nds to be granted to company not to exceed 30 per cent, of coist of railway. Part V dsals with management of railways by companies and regulations for traffic:— Companies may make regulations and pre. scribe tolls, &c; railway to ba open to the public; Governor may reduce maximum of furs* &c under certain conditions; certain pro^siS* of "The Public Works Act, 1881," incorporated. Carriage of goods, &*—Pro visions as to tho custody, carriage, and delivery of goods; penalty for giving false waybill, ±"art VI contains general provisions:—Governor may agree with companies for rnnning powers of lines, &c, and also as to payments to be under such agreement, &3. ; power tn Governor to purchase railways on giving 12 months' notice after line being 10 years open for traffic; price to be determined by arbitration but in determining price to ba paid to cor/many, arbitrators shall observe fallowing conditions :-(l) They shall deduct from «uch price 50 per cent, of the v.ilue of all land granted to company under part IV by way of endowment, under percentage to be based upon value of lnnd as estimated in contract with company under this Act; (2) they shall not award any compensation to company in respect to land the use of which for line of rail*»y shall have been acquired from Governor trader provisions of Act, or been gratuitously granted to company for construction of per mauent way; bnt tho company shall require an respect of tuoh lands and be entitled to the fair value of all improvements thereon—such awards to be ascertained as provided; to convey and aisign upon payment of agreed mice; mortgagee to join in conveyance, on being paid his principal and interest; no om wensation shall be paid for goodwill of any railway but arbitrators, in determining price to ba paid' shall take ub basis pf valuation the co«t of otter similar railway works, plant, ard rolling • atock at the time wheu the works forming subject of arbitration were constructs, or plaut and rolling-atoek was ao cnired, as the case may be; arbitrators shall al.o take into consMfiration depreciation _in permanent way, plaut and rolling-atocl:, buildings, and other works on railway, including therein any onerous or burdensome provisions respecting use of railway or works thereof, or aoy easement*, rights, orprivilegesin connection therewith; if power of taking exercised within certain period, percentage to be added to the compensation} seven years, and not exceeding 14 years. 5 per cent.; U years, and not excasding 21 years, 10 per cent.: amount ol peroantaga to be ascertained by arbitrators and paid as part of compensation; compensation as ascertained to be accepted by company ;| railway purchased to become subject to byeJaws in force on Government railwayn; company not to sell or assign without consent; power to Governor to take pos.'eosjon of rail way in case of delay in works or negleot to run trains, ~ , , , Railways constructed under this Act to be snbjpctlto part VII of " The Public Works Act, 1881"; Act not to give company (greater powers tban thoße for which it is incorporated ; stamp duty payable upon certain contracts or debentures, &c.; trees dangerouß to railway may be semoved; penalties for trespassing on rajlwayp unconrjeof construction not exceeding Ls;j Sands purchased to be the property of the! company % penalty for oiwlrncting persons in the discbarge of duty, LSO; pesoltles recover able summarily. The sohedules prescribe the form of aeben &«68, coapona, and certificates required by the - Act,