EAST AND WEST COAST RAILWAY.

Inangahua Times, Volume X, Issue 1547, 13 May 1885, Page 2

EAST AND WEST COAST RAILWAY.

! In a letter to th<? Nelfeon Board the i Ne.w Zealand Railway Commissioner! : who went home to float the East and i West Coast Railway liae say — j " Our Hrst step was to pat into print ! a loemo setting forth the nature of oar | scbeuif ■, which we bad drawn up on | board ship. After receiving the proof we had a conference with the Agent* General on the subject and made certain alterations in it. He then agreed to go into the whole facts with us next week, and if tben>atisfied ho will be prepared to back op all the statements in oar memo, and to give U8 the. weight ©f hig official approval of the wh«le scheme. " He is already favourably disposed towards it, and informs us that h« ha* privately taken steps in certain powerful quarters from whence he drinks the* money will be obtainable. " The promulgation, in a final form, of the memo, has been kept back that far in accordance with the AgentGeneral' 6 advice — frequently repeated I — and our own epiuion ; both en I account of the present abnormal state of the meney market, in co 1 sequence of the daily rnmors of war with Russia ■ — which state, however, is thought by molt people to be but temporary, and a matter of days and not weeks — and because we are thus able to talk privately and generally to peeple whom we wish to sound wit hoot commit ting ourselves to any definite statement " In this way we have already seen not only almost all the persons directly connected with New. Zealand and to whom we had introductions, bat also gevttral other inflnentiaf geatleoten who are likely to entertain our scheme. "From these quarters we have ■ received considerable encouragement notably from two persons whuse ability to carry out the contract, should they entertain it, is indubitable. " At present there B»ems to be a fair probability of our being able to gee • syndicate of contractors and financiers to take over the contract, and we hepe that we shall be able, to do so, as the chances of getting the neoessary money from the open market by w*y of a Company, even if strongly backed, are not good just now, the money market being io a most exceptional condition."