2.
455
C
was considered the type of scheme which would appeal to saund
financial houses in England.
It had been suggested to the promotors that they would
be saved considerable worry and expense if they formed a syndicate
to carry the scheme through to the stage when a Company could be
floated. Particular attention is called to this because had this
course been adopted the present position, which will shortly be
referred to, would not have arisen. Knowing however that many
sound development schemes had been Jepardized in passing through
the hands of syndicates in their early stages, and being particu-
larly anxious that this scheme should commence and continue on
lines most advantageous for the Colony, the promotors resisted this
easier though less desirable course. Moreover it was felt that
the right action would be to look directly to the public for
support and let them have any advantages which would otherwise
accrue to syndicalists.
During the period 1912, to August 1914, strenuous labour
and considerable expenses had been incurred by the promotors.
In July 1914, it was arranged to take steps to float a Company
as soon as the Secretary of State's sanction to the Agreement was
received. THEN WAR BROKE OUT, From a large number of enquiries
made and advice taken locally it was clear that it would be
inviting failure either to endeavour to form a Company for, or to
carry out, an engineering scheme, at once and this was strongly
supported by enquiries in England. In those days the war was
expected to be of short duration and we were unanimously advised
in the best interests of the scheme itself to take no action.
Wishing howover to do everything pessible in the way of
preliminary