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Inangahua Times, Volume II, Issue II, 26 April 1880, Page 2

In another column we lay before our readers the rather long delayed p?os'pectus of the Low Level Tunnel Corns pany. The delay in placing the project before the public has already been explained, and there can be no doubt of the wisdom of the course the di« rectors took. However, the scheme is now ripe for operation, and as it appeals alike to every property holder in the community, there ought to be uo difficulty or delay in filling up the s'jarejist^ Although the time for elosif|| the applications has been ex« tended to the 10th May, it is to be hoped that all local applications will be made during to* day and to-morrow, as they will be dealt with in the order in which they are receiyed by the secretary. It is known that there irill be many applications from Nel* son, Westport and Greymouth, the beiief being that those places will absorb from half to two«thirds of the entire issue. The venture could not fail to find favor as an investment, for it is thrown upon the market with an advantage such as no previous undertaking in the field possessed, in respect to its capital. More than thn how» ever, the undertaking is favored beyond any preceding one. la the first place the course of the tunnel will be through country which has already been proyed to be reef*bearing« and while the lodes will be cut at a depth not yet reached by any other company in the field, thereby largely adding to their promise of richness and permanence, the facilities for working will be such as to make much stone remunerative, which under any other circumstances would be valueless. But the superior advantages of the undertaking do not end here, for while the company will possess a lease, broken only by a fe «r gaps, along the entire line of the tunnel, embracing, not one, but nearly a dozen known and distinct lines of reef, its possibilities are still further inhanced by its right to charge other companies for the use of the tunnel. In addition to all this, it is almost impossible to estimate the indirect benefits possible from such an undertaking. They are, however, sufficiently aparent to establish a very strong claim to local support to tbe undertaking. ,