TRAMWAY TO CHARLESTON.

Westport Times, Volume II, Issue 165, 10 February 1868, Page 3

TRAMWAY TO CHARLESTON.

(To the "Editor of the Westport Times and Charleston Argus.J Snt, Observing in your issue of the 6th instant, a letter from Mr Ellis on the subject of a proposed Tramway from "Westport to Charleston, referring to a prospectus of a Company intended to be formed for that purpose issue in May last, suggesting that the present would be a good opportunity for renewing the effort then made for its formation, which seems to demand a few observations from me, especially as my name is mentioned by him as one of the promotors of that movement. I therefore request you will allow mo space in your jotrrnal for a short statement in confirmation of, rather than reply, to his arguments. The provisional committee of the proposed, company were elected at a numerously attended public meeting held at "Westport, where the subject was thoroughly ventilated. The committee went to work in earnest, not only by devoting their tirue, but also subscribing monies in furtherance of the object. A deputation was sent to Charleston where they held a public meeting, but utterly failed in gaining support from either business-men or miners, although the meeting was largely attended by both classes; in fact, amongst those business-men with whom I conversed on the subject, the prevailing opinion appeared to be that so far as the closing of Westport being a disadvantage to them it would have quite a contrary effect, and the tramway during that time would be an injury rather than a benefit. About this time a report was current at Charleston that a gentleman repre-

sonted to be a large capitalist, of that town, had obtained from the Government the right of laying a line of railway between the two townships which would of course take precedence of our more modest intentions. This also tended to retard our endeavors for support, and Mr Commissioner Ivynnersley, in his report to the Government on the subject, recommended this gentleman's' proposal in preference to that of ours ; the provisional committee therefore deemed it advisable to allow the matter to stand in abeyance to the present time, hoping to renew it at some more favorable opportunity, and I quite agree with Mr Ellis that the present is a fitting time, more especially as one obstacle is removed—namely, the gentleman referred to has met with unforeseen dilficulties, and is now seeking protection under the new Bankruptcy Act, therefore he is not likely to claim his right, and it may be such right has lapsed ; however that may be Mr Kynnersley would hardly recommend any further application from him. It should also be borne in mind that Addison's Flat Diggings had not then been discovered. It may be said that Addison's Flat is not now a new discovery. Why did not the committee push the matter forward after these diggings had been opened? which proposition appears very reasonable. But when Mr Ivynnersley's report to the Government supportingthis gentleman's railway, and the knowledge that some preferential right did exist between the Government and him, it must be admitted the committee would have had a very up-hill battle to contend with in trying to obtain support from the public. Even then, as the permission to lay the line prescribed, no particular route, therefore it have been taken through Addison's Flat or along the beach at pleasure, and in case this gentleman had commenced the work, the labors of the committee would have been thrown away.

The proposal of the committee was to register a company under the Joint Stock Companies' Act, with limited liability, having a nominal capital of £14,000, divided into 3500 shares of £4 each, payable by easy instalments, assuming the cost of the line would be about £SOO per mile, which was considered a high estimate; but should that amount not required, the capital would have not been called up. The goods and passenger traffic was estimated much higher than Mr Ellis states ; in fact, all his figures are much below the estimate made by the committee, and no doubt the actual returns would far exceed the amount mentioned by him in reference to passenger traffic in particular. I believe every business man here, who has paid any attention to the subject, is perfectly aware the returns would pay handsome dividends; but the uncertainty of any company raising sufficient capital to start the undertaking in a proper manner, tends to deter them from investing. I should like Mr Ellis to have given a little more information as to those who are, as he states, eager to take up shares if the project is again placed before the public, as it might tend to encourage the committee to further exertions. lam convinced that if ten gentlemen would engage to invest £IOO each, to be paid as required, for the formation of the line, the undertaking would prosper. This was the plan adopted when the Hokitika and Greymouth Tramway Company was first formed, of which company I was one of the promoters; and each of those investing £IOO were allotted ten bonus shares to compensate them for the risk, and as soon as the company opened the line for traffic for three miles only, their paid up shares were sold at 50s and 60s premium. I have sold some at 50s. The actual dividends paid by the company have been £2 on each £5 share for the twelve months, retaining a balance of £1450 in hand, and that at a time of much depression The extent of their line is only five miles to the Arahura river. What would it have been had they extended their operations to the actual diggings, or the foot of the Waimea track? Their returns for the half year ending 31st December last, have been £3756 14s 2d v , principally for passengers. I believe the present traffic between Westport and Charleston, through Addison's Plat, to be much larger than between Hokitika and Arahura river, and would be much increased if easy facilities of transit were available, and there can be no doubt in the mind of any person of common understanding, that such an undertaking must be of infinite advantage to both townships, as also to the intermediate residents along the line of route.

I must apologise for occupying so much of your valuable space ; but my

excuse must bo the importance of the subject to the attention of the public, and one which I think would not be beneath your special attention and advocacy. Should sufficient encouragement offer, the subject can very easily be again brought before the public, and with that view, I shall be happy to hear from any gentleman who would be to further the undertaking, and [will engage that any proposal 1 may receive shall be laid before the committee, and receive their special attention. I am, &c, H. E. Campbell. Westport, Bth February, 1868.