GUARANTEES. July 1930

 From the Kearney Files

Sydney July 1930

RAILWAY SCHEMES

Land Grant.

Although the Kearney High Speed Railway Company has offered to build a standard railway to the Eastern Suburbs, or to Manly, if it's scheme is not acceptable, it has stipulated certain conditions at which the Government is likely to baulk.

One of these is that the Government guarantee interest on the capital in the construction of the lines, and the other Sagar as the Manly scheme is concerned, is for grants of land adjacent to the line.

The inventor of the Kearney High Speed System (Mr. Kearney), who arrived from England to place his company's proposition before the Gov, said today that one of the arguments that was being advanced against the system was that it would add another complication to the existing differences in widths of the railways of the Commonwealth.

This contention he said, was unfortunate, as it meant that if it was allowed to prevent progress, the State would be indefinitely tied to the mistakes of the past.

Mr. Kearney said that it would be quite economic and practicable for his system to be operated over desperate lines and yet link in with the existing standard lines.