Page 20 Advertisements Column 2

Observer, Volume XXVII, Issue 48, 17 August 1907, Page 20

THE TAKAjVUNA TRAMWAYS # JFEREY COMPANY, LIMITED. (To be incorporated under " The Companies Act, 1903." as a Company limited by Shares). - ■ DHARE /CAPITAL, G>-i f\Ci Cif)f\ DIVIDED INTO IOU.OOU fj-j BACH PEO VISIONAL DIRECTORS : JOHN BROWN, of Auckland, Merchant. HENRY BRETT, of Auckland, Newspaper Proprietor. HENRY HOPPER ADAMS, of Auckland, Mining Engineer. PaUL MAXIMILIAN HANSEN. of Auckland, Director of the Auckland Eleotrio Tramways Company, Limited. JAMES SMITH, of Auckland. Merchant and Shipowner. WILLIAM 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 Registrar of Companies; is issued to-aay, ana otters tor subscription, at par, 75,UUU snares. Tne jfrospectus mates, inter ana : — This Company is being formed to take over and exercise the Option granted on the iyth day ot December, 19u6, by tne Waitemata County Council, by which the aoie ngnt to construct, equip, ana work a Tramway between O'Neill's Point and baiie xatapuna was given to tne persons named in tne Option ; to obtain the autnonsuig uraer-in-uouncii ana Deea ot Delegation tor the purpose of carrying out tne uiiaertttKing ; to proviae a whariand approach at O'jSenls Point, ana t establish a .terry service between O'Neill s Point ana tne Uity oi Auckland. Beyond being recouped in the sum of £100 for actual expenses, the owners of the Option win receive no benent or advantage whatever trom tne Company, ail ani- renolaers oeing placed upon the same looting. The Option was obtained with tiie soie object ot lorming a Company to establish a Tramway ana Ferry Hervice, and not with any iaea oi a speculative proht on the Option itself. The main features of the Deed of Delegation, which document has already been approved oi by tne Waitemata uounty Council, are as follows :— POWER— Electricity or other motive power. JiO v TE— From O'Neill s Point to Lake Takapuna, round tne .Lake, and bacK to the .Point. COMMENCEMENT OF SERVICE— Within live years trom the date ol tne Deed of Delegation. TERM OF CONCESSION — aixty years, and tnereaiter tor successive periods of ten years, until the Local Autnonty elects to purcnase tne undertaking at the commencement of any such period ot ten years. DiVialOiN OF J?ROJb'JLTt>— After payment of ID per cent, dividend in any year to the Shareholders, tne Local Authority to take 2t> per cent, of tne balance. JbtiGuT Ol 1 ' PURCHASE by Local Authority— (i)After 3u years, for amount oi capital expenditure, plus 2t> per cent, (nj After 40 years, for amount of capital expenaiture, plus zu per cent, (vi.) After bU years, tor amount of capital expenditure, plus iv per cent. (ivjAfter bU years, or at end of each period of 10 years tnereaiter, tor tne vaiue as a going concern at date of purchase. T±tA3& jVA.tf.JEiB— u«) mot non-residents, la tor eacn oi tne nine sections of tne route, the termini of sections being :— The ena of O'Neill s Road, Jlauraki Road, Hatrinestreet, Wade Road, Jxortucote Koad, Katrine-street, JbLauratti Road, end of O'JSeill's jioaa, and tne ±-oint. (n.) itesidents, return tickets for 6d, in parcels of live. OJNeiii's Point, which would be brought within 10 minutes of Queen-street by the proposed Jterry Service, is directly opposite tiie new Ferry Tee that is now in COUIS3 ot construction on the Auckland side of the J±arbour, so that the proposed uerry will be a straight run from wharf to wharf, and consequently free from danger. The terminus for the whole of the Auckland City and suburban tram lines is within a few yards of the new Ferry Tee, from which the Company's Ferry will ran, go that the scheme will practically be a continuation of the Auckland Electric Oar 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, lias 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 iB it with pieasure-seekers that thousands of people are conveyed thither Dy 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 oi the Uity of Auckland, and therefore this route will be the shortest, fastest 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 anoUO'Neill's Point shall be carried on by fast, hrst-class, up-to-date steamers, specially built for the purpose. It is proposed that the Tramway shall be consructed and equipped uT'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 Neili's Point to Takapuna some 500 passengers within a short time of landing. The Takapuna passenger service is at present carried on by 'buses, and some figures showing the comparison between traffic revenue from horse locomotion as againso 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 titamways 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) brougnt as high a return as £75,000. In Auckland the last year of Eleotrio Traotion resulted in a gross revenue of £24,000, while the first year of Eleotric'Traotion for the complete service (1904) showed receipts amounting to £114100, 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 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 he City, increased as 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 ~ arid cheaper facilities for travelling, there will be a similar expansion at Takapuna. It is expected that' it will not be necessary to call up the whole of th« capital before i/l±e expiration of 18 months. l . 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 application to any member of the Auckland Stock Exchange. . . The prospectus contains all the particulars required to be stated therein by the Companies Act, 1903, and every application for shares must, and will, be deemed to be made on the basis thereof only. No shares will be alloted, save in respect of applications made on the form attached to the prospeotus and no shares are here* by offered for subscription, or purchase. / - . <