CAP. 81. the commissioners of her majesty's treasury), a sum not 31 & 32 VICT. exceeding in the whole the sum of one hundred and fiftythree thousand pounds on the security of the said company's railway works and undertaking, as well as all rates, rents, tolls, and profits, and all other property of the said company, the said sum of one hundred and fifty. three thousand pounds to be the first charge thereon, and to be repaid by equal half-yearly instalments within a period of thirty-five years from the date of such advances, together with interest at the rate of three pounds ten shillings per centum per annum on the said sum of one hundred and fifty-three thousand pounds, or on such part thereof as may from time to time remain due and unpaid. 4. Such portion of the said sum of one hundred and Application fifty-three thousand pounds as may be requisite for the of said sum. purpose shall be applied in discharge of all existing debts of the said company secured either by way of mortgage, debenture, or otherwise howsoever, and the balance of the said sum shall be applied by the said company for the general purposes of their undertaking. County mortgage. 5. It shall be lawful for the said Belfast and County Power to the Down Railway Company to borrow on mortgage, and Belfast and for the said public works loan commissioners, out of the Down comfunds at their disposal under this act, to lend and advance pany to to the said last-mentioned company (under the direction borrow on and with the consent of the commissioners of her majesty's treasury (a sum not exceeding the sum of one hundred and sixty-six thousand pounds on the security of all and every the said company's railway works and undertaking, as well as on all rates, rents, tolls, and profits, and all other property of the said company, the said sum of one hundred and sixty-six thousand pounds to be the first charge thereon, and to be repaid by equal half-yearly instalments within a period of thirty-five years from the date of such advance, together with interest thereon at the rate of three pounds ten shillings per centum per annum on the said sum of one hundred and sixty-six thousand pounds, or on such part as may from time to time remain due and unpaid. of monies 6. The said sum of one hundred and sixty-six thousand Application pounds to be applied in the discharge of all existing debts borrowed. of the said company, whether secured by mortgage, debenture, or otherwise however. 7. It shall be lawful for the lords commissioners of her Treasury to majesty's treasury, out of monies to be provided by parpay the Port liament for the purpose, to pay, by way of free grant, to the said Portpatrick railway company a svm not exceed ing the sum of twenty thousand pounds patrick com pany a sum not exceed ing £20.000. SCHEDULE referred to in the foregoing Act. Treasury Minute, dated August 15, 1856. My Lords have under their consideration several memorials, signed by persons interested in the communication between the north of Ireland and Scotland, and praying that their lordships will take measures to determine the ports best adapted for the establishment of a short sea passage between the two countries, with a view to promote the quickest postal and passenger communication. One of these memorials prays for a public loan to the County Down Railway Company, in order to enable them to complete their line to Donaghadee. Fully recognizing the great advantages which would be derived by the extensive manufacturing Districts in the north of Ireland, in the west of Scotland, and in the north of England, by establishing a communication between the two ports which should reduce the sea passage to the shortest possible time, and in connection with a system of railways on both sides, which to a certain extent already exists and the completion of which my lords understand is in contemplation, by which a direct communication will be opened between all the above important districts, my lords referred the subject to the Admiralty, for their lordships' opinion upon the nautical questions raised in the memorials. My lords have now before them the reply of the Admiralty, in which the Lords Commissioners report, that the most favourable ports for the establishment of a short sea passage are those of Portpatrick and Donaghadee; and they suggest that instructions should be given to them to institute an inquiry as to the best and cheapest manner in which those ports may be made suitable for the purpose. These instructions my lords have already issued. Before any expense, however, is incurred, it becomes necessary that my lords should clearly state their views upon the subject, for the information of all the parties who have appeared before them, either by memorial or by personal application, and of others who take an interest in it. It has been represented to my lords that in the event of the Government deciding upon the best ports for the passage referred to, and especially in the case of Portpatrick and Donaghadee being adopted, and provided the Government should be willing to use it as a mail communication, that, in the first place, a steam boat service, suited both for passengers and mails, would be established by a private company, without any aid from the government except a fair price for carrying the mails; and that, in the second place, the railways on each side of the channel would be completed so as to connect Donaghadee on the one side with Belfast and the main line and Portpatrick on the other side with Glasgow to the north, and with Dumfries to the east, by which all the important objects in view would be fully attained. All this, it has been understood, will be performed by private enterprise, if only the government, on its part, will 1. Determine the ports most suitable for the service. the purpose. passage. These conditions my lords are prepared to adopt. They have already, upon the advice of the admiralty, decided that the best ports will be Portpatrick and Donaghadee, and have instructed the lords commissioners to report upon the improvements and alterations required to render them suitable for the service, and when a steam service shall be established for carrying the mails they will be prepared to use it for that purpose upon fair and reasonable terms. But, before my lords proceed actually to incur any expense upon the ports named for their improvement in pursuance of any report that may be made by the admiralty, it will be quite necessary that they should be well satisfied that all the arrangements herein referred to, and which would be necessary to give public utility to the scheme, will be completed. With regard to the memorials for aid in completing the Railways by a public loan there is no fund disposable for such a purpose except that annually voted by parliament for public works and administcred under this board by commissioners appointed for the purpose. It will, therefore, be necessary for those requiring such a loan to apply to the public loan commissioners, with whom rests the responsibility of judging of the security to be accepted in such cases, and who alone can determine how far the other demands upon the fund at their disposal will enable them to entertain the requests. Let a copy of this minute be forwarded to the chief secretary for Ireland, to the chamber of commerce, Belfast, to the other memorialists, and to the postmaster general. 31 & 32 VICT. c. 81. vi. 30 & 31 Vict. c. 138. RAILWAY COMPANIES (IRELAND) 31 & 32 Vict. Cap. 94. An Act to authorize the further Extension of the Period for Repayment of Advances made under the Railway Companies (Ireland) Temporary Advances Act, 1866. [31st July, 1868.] WHEREAS by the Railway Companies (Ireland) Temporary Advances Act, 1867, the time for repayment of advances made by the public works loan commissioners 29 & 30 Vict. under the Railway Companies (Ireland) Temporary Ad c. 95. Short title. Public works loan commis time for repayment of advances may be further exsended. vances Act, 1866, was authorized to be extended as therein mentioned, and it is expedient that the time for repayment of the said advances should be further extended: Be it therefore enacted by the queen's most excellent majesty, by and with the advice and consent of the lords spiritual and temporal, and commons, in this present parliament assembled, and by the authority of the same, as follows: 1. This act may be cited as "The Railway Companies (Ireland) Temporary Advances Act, 1868." 2. On the application of any railway company to whom any advance has been made under the provisions sioners may of the Railway Companies (Ireland) Temporary Adconsent that vances Act, 1866, and with the approbation of the commissioners of her majesty's treasury, and subject to such terms and conditions (if any) as to payment of interest or otherwise as the last-mentioned commissioners may think proper to impose, it shall be lawful for the public works loan commissioners, by any writing under the hand of their secretary for the time being, to consent that the time for repayment of all or any part of the principal money remaining due in respect of any such advance, shall be extended to any day not later than twelve calendar months from the day when the same advance shall become due by the terms of the debenture or other security given for securing the same, or to any day not later than twelve months from the day when the same advance shall become due under any extension of CAP. 94. time granted under the authority of the recited act; and 31 & 32 VIOT. after any such consent shall have been given, and for all the purposes of the Railway Companies (Ireland) Temporary Advances Act, 1866, the principal money secured by any debenture or other security given under that act shall be deemed to have become due only on the day to which the time for repayment of such principal money shall be extended by any consent to be given as provided by this act, and all powers and provisions for recovering and compelling payment of such principal money shall be read and have effect accordingly. |