MIDLAND RAILWAY.

Star (Christchurch), 30 September 1893, Page 5

MIDLAND RAILWAY.

* The Debate in the House. [FROM OUfc SPECIAL COHBESPONOENT.I WELLINGTON, Sept. 29. Owing to the Bating Bill haying taken the whole of the evening, the -Premier announced that the Midland Bailway Company's proposals would be the first order of the day on Monday, the question being postponed. [Fin Pbbsb Association The following is the full text of the Premier's proposed amendment -.— "That, seeing the Midland Bailway Company haa signified ita inability to complete the construction of the Beveral railway lineß enumerated in ita contraot, and, having submitted an amended dontract, this House iB of opinion that tho proposals contained in the amended contract should not bs agreed to. Further, that with the view of enabling the Company to oomplete the construction of the beveral linea between Springfield and Brunnerton, and from Belgrove to -Beefton, and to enable the five million aorea of tand now reserved for seleotion by the Company to be freed and thrown open for settlement, it is expedient that the "following suggestions for the modification of the contract be forwarded to the , Company fo* ito favourable consideration :— (a) That in lieu of land grants being made to the Company on account of work hereafter executed by it, debentures of a corresponding value to the Bl valne be iaaued to the Company, bearing intereat at the rata of H per cent per annum, such issue of debentures, In lieu of land grants, to be conditional on the Company surrendering its right to seleot land within the reserved area of about 6,600,000 acres, after deducting tike quantity to which it is entitled, and to which it may be entitled' for worts done j (_) that an extension o_ time for the completion of the work ba granted to the Company, such extension not exceeding five yeara froni the date of signing the new contract (c) that if desired by the Company the debentures to which it may become entitled froni time to time ba deposited with the Pnblic Trustee, to be issned to tbe Company in aa near as maybe twenty equal half-yearly instalments, the interest ot each debenture while in the hands of the Public Trustee to be applied aa the Company may direct i that theae modifications BhaU not be considered a variation of other terms of the contraot; (d) that theße modiflcAtiona of the contract be made conditionally only on the Company having first satisfied the Government that it is in a position to raise the necessary capital required to complete the Beveral railway worka enumerated iB the contract.*' THK MIDLAND BAXIiWAT. The Midland Bailway debate will ba resumed on Monday. Government is making it the firat order for that sitting. Mr H. B. Kirk, President of the Ohristohurch Industrial Association, haa roooived the following telegram from the Hon the Premier:— "Be Midland BftUway. 'gd-