From the Kearney Files
Sydney 12th. June 1922
KEARNEY HIGH SPEED RAILWAY COMPANY., LTD.
The main aim of this company is to provide funds to bring Mr. Elfric Wells Chalmers Kearney ( inventor of the Kearney High Speed Tube Railway) from London to Sydney, in order that he may demonstrate to the New South Wales Government the merits of his invention.
He claims that by means of his railway working in a tunnel under Sydney Harbour he can provide an efficient means of communication between the City of Sydney and the North Shore.
The cost of bringing Mr. Kearney and his models to Sydney is estimated at £2000. This money is being found by the issue of 5,000 £1 shares for subscription; the balance of £3,000 is to pay the demonstration costs, to further the formation of a large company with a capital of £750,000 to build the tunnel, and to provide funds for propaganda.
In return for subscribing this capital the shareholders are to receive a large interest in the proposed big company, " about 10 shares for every share they hold in the company." If Mr. Kearney is not successful in convincing the Government that his scheme is sound, and if all the funds are spent in demonstrations and propaganda, the shareholders will lose their money. As eminent engineers, it is stated, have been convinced of the merits of the scheme, it may be that Mr. Kearney will be successful in dispelling the doubts at present existing among engineers in Australia.
A subsidiary aim of the company is to reward Mr. H. W. Booth, the Australian representative of the English company, for " his services to the company."
The nature of his services is not stated, nor yet whether they were rendered to the English company or are being rendered to the proposed company. In any event he is to receive £2,500, one - third of the total capital, in £1 shares fully paid.
Sir Thomas Henley (Minister for Works) is reported as having stated that "the Railway Commissioners' statement demonstrated clearly that the Kearney tunnel proposition was totally inadequate for the purpose, and could in no way form a substitute for the bridge. In view of the Commissioners report, I have instructed that a cable be sent intimating that the Government does not desire Mr. Kearney to visit Sydney to demonstrate his scheme by model.
Sydney 12th. June 1922
KEARNEY HIGH SPEED RAILWAY COMPANY., LTD.
The main aim of this company is to provide funds to bring Mr. Elfric Wells Chalmers Kearney ( inventor of the Kearney High Speed Tube Railway) from London to Sydney, in order that he may demonstrate to the New South Wales Government the merits of his invention.
He claims that by means of his railway working in a tunnel under Sydney Harbour he can provide an efficient means of communication between the City of Sydney and the North Shore.
The cost of bringing Mr. Kearney and his models to Sydney is estimated at £2000. This money is being found by the issue of 5,000 £1 shares for subscription; the balance of £3,000 is to pay the demonstration costs, to further the formation of a large company with a capital of £750,000 to build the tunnel, and to provide funds for propaganda.
In return for subscribing this capital the shareholders are to receive a large interest in the proposed big company, " about 10 shares for every share they hold in the company." If Mr. Kearney is not successful in convincing the Government that his scheme is sound, and if all the funds are spent in demonstrations and propaganda, the shareholders will lose their money. As eminent engineers, it is stated, have been convinced of the merits of the scheme, it may be that Mr. Kearney will be successful in dispelling the doubts at present existing among engineers in Australia.
A subsidiary aim of the company is to reward Mr. H. W. Booth, the Australian representative of the English company, for " his services to the company."
The nature of his services is not stated, nor yet whether they were rendered to the English company or are being rendered to the proposed company. In any event he is to receive £2,500, one - third of the total capital, in £1 shares fully paid.
Sir Thomas Henley (Minister for Works) is reported as having stated that "the Railway Commissioners' statement demonstrated clearly that the Kearney tunnel proposition was totally inadequate for the purpose, and could in no way form a substitute for the bridge. In view of the Commissioners report, I have instructed that a cable be sent intimating that the Government does not desire Mr. Kearney to visit Sydney to demonstrate his scheme by model.
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