NELSON AND WEST COAST RAILWAY.

Colonist, Volume X, Issue 743, 12 July 1867, Page 3

NELSON AND WEST COAST RAILWAY.

To his Honour the Superintendent and Executive Council. Gentlemen—ln accordance with the request of your Honour and the Executive Council, that I should offer some security in compliance with the wording of the Act of the General Assembly, I will detail below what I propose to give. But before doing so must observe that I came forward to offer my services to the province ; that I have offered to go to England at my own expense, and to raise enough capital to finish the railway; to have the trouble of launching the scheme on the market; to employ all my professional skill, and my long experience in monetary affairs, and to introduce it through the proper channels, without which it would have no chance of. success. Yet I am asked for security. For what purpose ? For paying my own expenses to England and back, and the expenses of my bringing out the Company, which cannot be done under a thousand pounds at least ? [These observations are only meant to apply to the wording of the Act.]

_ It would appear all the advantage is for the province, and none for me, for you have not stated or proposed I should have anything if I succeed. "Under these circumstances I do hope yon will look upon the proposal in the right light, and that it is really to me a matter more of honour than of profit, though I do expect to get something by it. And mayl be allowed to touch upon another subject, and that is, the person sent should be one who has served at least three apprenticeships to the profession of a stockbroker; who has learned all'the intricacies and delicacies connected with the profession, or he will signally fail. It matters not- how otherwise learned, how acute, how clever he may be; the simple fact is, unless experienced-and initiated, he must fail. I need not quote a late precedent:— SECURITY. Francis Stevens to enter into a bond to the following effect, viz.:—

The said Francis Stevens to pay the sum of ten thousand pounds, by way of security, to the authorized Agents of the province in London, within nine months from the signing of the contract, or such contract to be invalid. This said sum of ten thousand founds to be held in trust for the said Francis Stevens, or his assigns, for the purpose of paying compensation as set forth in the contract, and not in any way or part to be recoverable until at least ten miles of railway shall have been completed. The land under this arrangement would only be locked up, as you observe, for a period of nine months. I have, &c, Nelson, July 9,1867. f BJUSOIfI SxeysnS.

The following is ono of the papers handed to the Select Committee, but, nofc before published i-^ List of Compabatiyi: Compensations (which may bo altered at the discretion of the Arbitrator.) Ist mile from Nelson, at £700 per acre* 2.800 2nd „ „ 550 ~ . 2,200 3«l » „ 350 „ . -1,400 4l» „ ~ 150 „ . 501 sth „ „ 50 „ .* 200 s'<> 10 „ „ 35 „ . 700 10 to 25 „ „ 20 „ . 1,200 25 to 40 „ „ 15 „ . . 900 Total . . £10,000 or, Aere9. Acres. Ist mile from Nelson, at 2,800 *$■ 4 acres* 11,200 2nd ,> „ 2,200 „ . 8,800 3rd. » . ~ 1,400 „ . 5,600 41U „ „ 600 „ . 2,400 sth „ „ 200 „ . 800 sto 10 „ „ 140 „ . 2,800 10 to 25 ~ „ 80 „ . 4,800 25 to 40 „ „ 60 „ . 3,600 It will be optional with the owners of property to choose, either land or money. *Four acm to the mile. Half-chain wide equal to four acres per mile. ■ ■ • .