The Takapuna Tramways and Ferry Co., Ltd.

Observer, Volume XXVII, Issue 47, 10 August 1907, Page 9

The Takapuna Tramways and Ferry Co., Ltd.

; «. A Commendable Local Enterprise. THE prospectus of the above company is published in this issue, and should command the attention of investors. The object for which the company has been formed is to institute a ferry and electric tramway service between Auckland and Lake Takapuna. The company has secured a sixty years' tramway option from the Waitemata County Council, which is a most favourable one. The rapid growth of settlement, not only at the Lake, but ~en route thereto, demands that an up- to date system of conveyance should be initiated for residents. The tramways will provide a long-felt want. Furthermore, settlement always follows in the wake of tramway enterprise, and the promoters of this company certainly have every reason to suppose that their venture will be a profitable one from every standpoint. * * •

The tramway service will be connected with Auckland by a ferry service, which will run to O'Neill's Point, whence the tramways will start for the Lake. This through trip from Auckland to the Lake and back again should prove an ideal excursion in the summer time, and at all times of the year the traffic should be large. The Lake will be brought within half-an-hour's travel of the centre of Auckland. Takapuna possesses eveiy natural claim to become the chief watering place near Auckland, and this new service should certainly be the means of making it so. The service will be up to date in every way, both as regards steamers and cars, and there is little doubt that this route will be one cf the mo*t popular with excursionists • ' .• p

The company is purely a local concern, which should further commend it to people who desire to keep money in the place. But, apart frdm this consideration, the excellence of the option and the certainty of heavy and constantly increasing traffic on the company's system should ensure the profitable nature of the undertaking. The proposed capital is £100,000, divided into 100,000 shares at £1, but 75,000 are being issued at present at par. and it is expected that it will not be necessary to call up the whole of the capital before the expiration of eighteen months. Applications for shares may be made to any member of the Auckland Stock Exchange, from whom copies of the prospectus may also be obtained.