MANAWATU RAILWAY.

Taranaki Daily News, 15 March 1902, Page 2

MANAWATU RAILWAY.

| HOM. HALL-JONES INTERVIEWED. , PER PRESS ASSOCIATION. Wellington, M»roh 14. i The Minister fir Publtn Work«i t i"terviewe 1 to-day concerning the breakdown of negotiations for t.h« pnrphase of the Masawatu railway, made tbo position as b»tw<?»n tha company and the Govprnraant clear. " Thn poin* whioh the compiny mak"*," said Mr Shires «ro £5 each, of which only £1 is paid up, and their idpa to that even if the Government purchase the line the shareholders will still be liaWe for the uncnllpd capi'al, namely £4 p°r sharp. The qußa' ; on then arise*, for wha 1 : purnngß will tho uncalled c>pit 1 be «•* quired when oaee the compiny is wound up in the term of subsection 13 of the Act of latft year ? Thq only possible liability is for d»b»ntures, which thn Aot provides shall bs a chargi on the public revenue of the colony, and together with the intnrfst therein compitel from the dat« of puroha«n, shall be payable out of the consolidated fund withnu l ; further appro orhtlon than the Aot." Mr Hal'Jooea addei tha": hj« did nnh sen ant grounds for supposing t'-ee was «nv omission from thi Act beyond whit, could be prov>d«d for within the terms of its provision in any »gr»emont, that is entered into. He had not, cmsulte't the legal adviser of the Government on this point, but it appeared to him theie wbs no necessity for Further legislation.