THE EAST AND WEST GO AST RAILWAY.

Otago Daily Times, Issue 7539, 16 April 1886, Page 3

THE EAST AND WEST GO AST RAILWAY.

(From Our Own Correspondent.j

Wellington, April 15.

A cable message was received to-day by Sir Julius Vogel from the Agent-general to the effect that Sir Francis Bell had received instructions that a syndicate was now prepared to take up the contract for the East and West Coast railway. A quarter of a million has been subscribed. The syndicate had previously informed the Agent-general that they were about to call for specific subscriptions, and that if they secured a sufficient amount they would proceed. When the subscriptions reached £250,000 they were satisfied with the prospects, and accordingly intimated to the Agent-general their willingness to enter upon the undertaking. The syndicate is stated to be a wealthy and powerful one. It is stated that no extra concessions are demanded, and also that there will not be any important alterations in the contract.as originally drafted. . ; Later.

From the latest information received by Government touching ,the East and West Coast railway, there seems every reason: to believe that at last this work is in a fair way of being definitely undertaken. There can be no doubt at all that the syndicate as at present constituted must be deemed a very powerful and responsible one. I have been courteously allowed to see the list of names, and from persona, knowledge of London city matters I am able to say unhesitatingly that they are unquestionably names that stand high in the estimation and confidence of the London commercial world. The list was shown to me confidentially, in order that I might satisfy myself on this score; therefore I am not at liberty to mention the names just yet, but: I am permitted to say that they are understood to include some of the directors in the great banking firm of Lloyd, Barnett, Bosauquet, and Hoare; also, that some leading Australian banks are connected with the affair as backers. In short, I do not think I go beyond the mark in saying ■ that the whole matter seems as satisfactory as could be desired. Should all the present men stand in when the contract is finally signed, there is no doubt a right substantial contracting body will have been secured. Some doubt was at first entertained whether the proposals included the Nelson section of the work, but I am authorised to say that all uncertainty on this point has been removed. It is ascertained that the Nelson section is included. Some have thought, too, that the original contract of 1884 had lapsed by effluxion of time ; but this is not the case. The Government had the right to withdraw after a specified time, but that right was never exercised, and consequently the original arrangement still remains in full force. The syndicate are quite satisfied with the land grants provided for in the contract of 18S4, and have not sought any new concessions either in land or in money The alterations in the original contract for' which they stipulate are mainly of a detailed character. For instance, owing to the length, of time which has elapsed since the contract was drawn up, a considerable portion of the period in which the first sum of £150,000 was to be expended has already expired. They stipulate for a proportionate extension of time, which is, of course, very reasonable. Other alterations are of a similar character, involving no loss to the Colony or any question of principle to which any exception could be taken. The Government have cabled Sir Francis Dillon Bell, leaving the matter entirely in his hands and requesting him to deal with the matter to the best of his judgment. The Agent-general seems quite satisfied with the. standing and responsibilit}' of the syndicate, and it is to be hoped that at last the undertaking is in a fair way to become an accomplished fact.

(Feosi a Correspondent.)

Chbistchtjbch, April 15.

There is a mysterious:operation known to politicians, and the henchmen of politicians, as " feeling the pulse.of the country." To feel the pulse of a.whole nation requires time, experience, tact, and a broad finger. The pulse of a small community—one single city, for examplemay be felt in an hour by the veriest novice if he chances on some time of general excitement -: or of sorrow. For monthl; —it might be almost said for years— the pulse of Canterbury and of Christchurch has beaten a very slow and very threadlike manner; in facb it wpnld have taken an expert in the method of the metaphorical expression used above to find that Canterbury had a pulse at all—the depressed state reigning in the body politic and the commercial, agricultural, and pastoral systems resulting in inanition. This afternoon the good news that a Home syndicate had taken up the West Coast railway contract sent a reviving and galvanising shock through the whole place, and the pulse beat high .once more. The novice—the new chum—-might have noticed a difference in it".between to-day and Wednesday with his gloves on; and the countenance of Christchurch was altered too—for cities have a countenance, though it changes but seldom. There was a broader, happier, more satisfied air about it that came like magic. Folks seemed glad to see each other. They bustled across the streets, stout and portly citizens, and short of wind withal, to spread the •news; and it did spread like wildfire. Knots of two and three gathered at the corners, there were hand-shakings, there were congratulations, and I am bound to say that teetotal principles ■were tried severely. One well-known publican, whose bluff good nature and downright honest ways have made him as great a name locally as can be made with those unmarketable qualities, ran up his Union Jack ] at once (he is an old salt, and always keeps a bit of bunting about the premises), and stood champagne for all comers. Sendinground to the office of the Star, in an early edition of which paper the news was first published,he had 500 slips of the cable message struck off, engaged a drag and band forthwith, and paraded the town and suburbs in high style, "distributing tracts," as he put it. The newspaprr runners had quite a little picnic, and all the afternoon the loug-suflfering editors of the evening papers were answering to knocks on theeditorial door in that peculiarly dulcet, alluring, and pacific tone of voice which the wearied editor, being human, is prone to use on such occasions. The grumpiest bank manager in town—whose face is usually as long as a fiddle, as sour as a crab, and as cheerful as a funeral—wore a positively cheerful aspect. The legend goes that he walked down High street without being recognised—" disguised in cheerfulness," as some wag had it. Statistical people aver that his physiognomy was positively shorter by np.arly threequarters of an inch. The Mayor was all about, like a parched pea oa a hot shovel. The chairman and promoters of the League felt friends with all mankind in thair sentiments, which very often took a liquid termination. The chairman of the committee of guarantors was besieged all the afternoon, and his genial Irish nature expanded into something approaching universal affability to all the world. In a word, there has not been such a hum, bustle, and news from Home since the news of the fall of Khartoum. Christchurch was like a hive of bees a few days before swarm-

Warm congratulations are certain to go

Home to Mr Alan Scott (of Harper, Maude, and Scott,of this town), who has all alongbeen one of the working delegates. He deserves every credit, for he has stuck to his work mantully. Latterly, I hear on good authority, the Agent-general's diplomacy has been called into requisition a good deal. There were certain small concessions asked for by the syndicate, and for some time past it has been understood by those a little behind the scenes here that if he saw his way to granting tliese the thing was as good as an accomplished fact. '.- ■■: