Page 17 Advertisements Column 2

Observer, Volume XXVII, Issue 47, 10 August 1907, Page 17

THE TAKAPTJNA TRAMWAYS & FERRY COMPANY, LIMITED. (To be incorporated under " The Companies Act, 1903." as a Company limited by Shareß). OHARE /CAPITAL, i?inn 000 DIVIDED INTO 100,000 /Jj EACd PROVISIONAL DIREOTOES : JOHN BROWN, of Auckland. Merchant. HENRY BRETT, of Auckland. Newspaper Proprietor. HF-NRY HOPPER ADAMS, of Auckland, Mining Engineer. PaUL MAXIMILIAN HANSEN, of Auckland. Director of the Auckland Electric Tramways Company, Limited. JAMES SMITH, of Auckland. Merchant and Shipowner. Vt T LLIAM JOHN GEDDIS, of Auckland, Newspaper Proprietor. Solicitors : BAMFORD AND BROWN, Queen-street, Auckland. Bankers : THE BANK OF NEW ZEALAND. Auckland. Auditor : (To be appointed at General Meeting). Brokers : THE AUCKLAND STOCK EXCHANGE. Interim Secretary : H. GILFILLAN., Jun. Offices : 108 and 109, VICTORIA ARCADE. AUCKLAND. The Prospectus of this Company (which has been duly filed with the Kegistrar ol' Companies) is issued to-day, ana offers tor subscription, at par, 75,000 shares. The Prospectus states, inter alia : — This Company is being formed to take over and exercise the Option granted on the lyth day oi December, iyu6, by the Waitemata County Council, by which the soie rignt to construct, equip, ana work a Tramway between O'Neill's Point and bake XaKapuaa was given to tne persons named in the Option ; to obtain the autnorising Order-in-uouncil and Deed of Delegation tor the purpose of carrying out the undertaking ; to provide a wharfaiid approach at O'iMeiil's Point, and t entabliah a Ferry Service between O'Neills Point and the City of Auckland. Beyond being recouped in the sum of £100 for actual expenses, the owners of L-hc Option will receive no beiient or advantage whatever from the Company, all sni-renolders being placed upon the same tooting. The Option was obtained with tne sole object ot forming a Company to establish a Tramway and Ferry Service, and. not with any idea oi a speculative proht on the Option itself. The main features of the Deed of Delegation, which document has already been approved oi by the Waitemata (jounty Council, are as follows : — POWER — Electricity or other motive power. ±tO U TE— From O'iSeill s Point to Lake Takapuna, round tne Lake, and back to the Point. COMMENCEMENT OF SERVICE— Within nvu years from the date of the Deed of Delegation. TERM OF CONCESSION — Wixty years, and thereafter tor successive periods of ten years, until the Local Autnority elects to purchase the undertaking at the commencement of any such period ot ten years. DIVISION OF PROFITS— After payment of 10 per cent, dividend in any year to the Shareholders,. the Local Authority to take 2t> per cent, of the balance. RIGHT OF PURCHASE by Local Authority— (i)After 3U years, for amount of capital expenditure, plus <2t> per cent. Ui) After 40 years, for amount of capital expenditure, plus ZU per cent. Uii.) After 50 years, for amount of capital expenditure, plus lv per cent. (iv.) After 60 years, or at end of each period of 10 years thereatter; tor the value as a going concern at date of purchase. TRAM f'Aßi^S— (i.) For non-reaidents, Id for each of the nine sections of the route, the termini of sections being :— The end of O'JNieills Road, Hauraki Road, Katrinestreet, Wade Road, Nortncote Road, Katrine-street, Hauraki Road, end of O'Neill's Road, and the Point, (ii.) Residents, return tickets for 6d, in parcels of live. ONeiil's Point, which would be brought within 10 minutes of Queen-street by the proposed Ferry Service, is directly opposite the new Ferry Tee that is now in course of construction on the Auckland side of the Harbour, so that the proposed lerrv will be a straight run from wharf to wharf, and consequently free from danger. The terminus for the whole of the Auckland Oity and suburban tram lines is within a few yards of the new Ferry Tee, from which the Company's Ferry will run, so that the scheme will practically be a continuation of the Auckland Electric Car system to Takapuna, whence it should command a large, share of the passenger and treight traffic to the more immediate portion of the North of Auckland. This proposed Ferry Service and Tramway have become necessary by reason of the steady growth of the Takapuna district, on the northern side of the Harbour, and the strong tendency of population to move in this direction There is a further substantial encouragement to the undertaking in the large excursion traffic throughout the year. Takapuna, with its magnificent and expansive beaches and picturesque Lake, has long been recognised as one of the most beautiful suburbs in the environs of Auckland. It has most appropriately been styled the " Brighton "of Auckland, and so popular is it with pieasure-seekers that thousands of people are conveyed thither by steamer on a single holiday, notwithstanding the discomfort of travelling by sea. and the greater cost of the trip. The proposed service will bring the centre of Takapuna within half-an-hour's travel of the City of Auckland, and therefore this route will be the shortest, fasted! and cheapest means of communication, not only between Auckland and Takapuna, but also with the districts beyond. It is proposed that the Ferry Service between Auckland and O'Neill's Point shall be carried on by fast, first-class, up-to-date steamers, specially built for the purpose. It is proposed that the Tramway shall be consructed and equipped in the most modern and efficient manner. The trip between O'Neill's Point and the centre of the district should not occupy more than 20 minutes. Ample power will be provided, as well as sufficient rolling stock, to despatch, when necessary, from O Neill's Point to Takapuna some 500 passengers within a short time of landing. The Takapuna passenger service is at present carried on by 'buaes, and some figures -showing the comparison between traffic revenue from horse locomotion as against electric traction may here be of interest : The two largest privately-owned Electric Tramway undertakings in Australasia are in Brisbane and Auckland, in both of which cities a few years ago the hores tramways were converted to electric traction with highly satisfactory results. In Brisbane the horse tramways earned during their last year (1896) £26,600, but the first year of Electric Traction (in 1899) brought as high a return as £75,000. In Auckland the last year of Electric Traction resuited in a gross revenue of £24,000, while the first year of Electric Traction for the complete service (1904) showed receipts amounting to £112,100. which, in 1905 increased to £122,995, and reached in 1906 the very satisfactory total of £132,364. It is also of interest to note that in 1902 the Epsom-Onehunga traffic supported only an hourly 'bus service, whereas soon after the Electric Tramways had started a 15--minutes' time-table was found necessary, with cars holding twice as many passengers as the 'buses of two years previously. It will thus be seen that in consequence of the improved conditions in the mode of travelling, the demand, for accommodation along that line, although a few miles outside ne City, increased ac • much as eight times within the short period referred to. Judging from the expansion that has taken place in all the Auckland suburbs. to •which, the Electric Car System has been extended, it is reasonable to expect that, with the improved ana cheaper facilities for travelling, there will be a similar expansion at Takapuna. It ia expected that it will not be necessary to call up the whole of the capital before the expiration of 18 months. Copies of the prospectus (in which the contents of the Company's memorandum of association are set out in full) can be obtained by personal or written applioa- * tion to any member of the Auckland Stock Exchange. •• • .'. The prospectus contains all the particulars required to be stated therein by the j Companies Act, 1903, and every application for shares must, and will^ be deemed to j be made on the basiß thereof only. No shares will be alloted, 'save in respect of applications made on the form attached to the prospectus and no shares are here* %7 offered for •übsctiption or purchase. ' ..■?'