WAIKATO RIVER SERVICE

Waikato Times, Volume 87, Issue 13269, 26 August 1916, Page 4

WAIKATO RIVER SERVICE

PROPOSED NEW COMPANY.

Dating hack irom the early Gtf's up to the iate i'U's, a largo fleet vi steamers was maintained on the Waikato and Waipa Rivers, trading from the \v aikato Heads to Cambridge and Pirongia (then known us Alexandra). Practical* the whole of tlic trade of the Waikato and Waipa Valleys was conducted by this means, but with the gradual advancement of the railway, and the sparse settlement in the hack country, the service gradually dwindled away, thorgh at no lime did it altogether cease. The opening up and development of large area; of land, especially on the western h-«nks of the rivers, which is practically cut off from railway facilities, and can lie more readily and economically served by the rivers and their tribuaries, lias brought into being various concerns to deal with the business. Although the lower reaches of the Waikato River mey, perhaps, be said to lie fairly well served by this means, the upper portion of the Waikato—until quite recently—and the whole of the Waipa has been debarred from participating in the undoubted advantage of water carriage. With the advent of through water communication from Onehungo to Cambridge via the Waikato Heads, the want of a suitable enterprise to deal with the trade has been severelv felt.

With the object of securing an adequate service from which the settlers would derive the fullest benefit, it has been decided to fleat the Waikato Shipping Company, Limited, the abridged prospectus in collection with which appears on page 2 in this issue. As a preliminary step nn npt'on has been seciT-od ore- the three concerns now carving on business in the area, each of which has a large client,lV. •>„,] j s n • avablo prn"osit ; on. The pdvantnges in sciirM'ir these are many. Fspeeially to be noted is the fact that the eew compan** will cfnrt with an e«-

abl'shed connect : nn. which it is pertain with proper ste: mors and regular services can lip greatly extended. Tin's pnplios more pa v ticular'v to the areas abovp Xsrnniavrahin. whom p regular service will 1)0 'dadly welcomed. Another feature will be the r revision of ;<''o'niato stores "t sn'taWe ptaees.

'vi'ero goods m<nv bo en oily l"ii'led an' V"dod ~»!,] stored safe'v. T his in it self will be a <n'oat consideration, as a orient faeilit : os : n -bis rcsrieet ar< ■ ad'v laelcin.". .Vnm. the ••p-reson

tations of a strong company will have more weight in tc'-ri""- mmrovomon+s <n the wofprwnvs '•ha" 'lv>«e of individ- ,..,!«. V>» coi-viX- e- i- .^ta'-hshod v-ith the Waikate ''ra-K hps p'roadv shown L r roat pnssih'li f: e:, ■nd i*s development only '•eop'-es t'-o i'lddanee of p strong company to 'e greatly extended. The promoters of the eernranv are confident that the proro«nl will he a pavintr one "from the start, while a eonsiderahle saving in freights may reasonably he expected. As mentioned above the regularity of th« service will bo a croat boon, while the safeguarding of shippers from loss by the erection of the necossarv stores "'ill bo greatly appreciated. The confidence of the vendors of the various plants new in use

in the project is shown by their having pureed to take up over GO per cent of the purchase money in shares in the now company. The promoters expect that the business will show a profit of at least 10 per cent, and shareholders will receive a rebate on their freight payments, while after a payment of P per cent dividend, the bahmce of the erofits will bo applied in the discretion

of the directors, either in further dividend bonuses or rebates. Comes of the full prospectus may ho obtained from

onr office, or from the brokers. Messrs Hendry and Hay, Exchange Lane. Auckland, or Messrs English and \ai<ford, Hamilton.