HEXHAM AND ALLENDALE-HIGHLAND.

129

It was reported in August that, in respect of railway No. 2, the powers conferred by the company's Act and the subsequent authority of the Board of Trade, expired on 19th June, the directors not having seen their way to incur the expense which would have been necessitated in giving notice to the landowners. The parliamentary powers, enabling the company to form the remainder of the line No. 1 to Allendale Town, continue in force up to June, 1872; yet, the position of the company is not in any way improved as regards funds for carrying out the resolution of the shareholders. The economical working of the line has had the constant attention of the directors, and with this object in view a scheme has been for some time under consideration by which it is proposed that the North Eastern should have the entire control, so far as the working of the traffic, maintenance of way and works, and management, are concerned. This plan, it is anticipated, will be more convenient, without in any way leasening the facilities to the public or sacrificing the interests of the company.

CAPITAL. The expenditure to 30th June, 1870, amounted to 85,1091., the receipts having been as under:

No. of Directors-7; minimum, 5; quorum, 3. Qualification, 2501.

DIRECTORS:

2 Chairman-WENTWORTH BLACKETT BEAUMONT, Esq., M.P., Allenheads, Haydon Bridge; Bretton Park, Wakefield; and 144, Piccadilly, W.

Deputy-Chairman-*WILLIAM RUTHERFORD HUNTER, Esq. (North Eastern), Lovaine Crescent, Newcastle-upon-Tyne.

3 Joseph Dinning, Esq., Langley Lead | 3 Wm. James Johnson, Esq., Pods Bank, Works, Haydon Bridge, Allendale. 1 Wm. Campbell Arnison, Esq., Allendale Charles Grey Grey, Esq. (Greenwich Town. Hospital), Dilston, Corbridge-on-Tyne.

* Do not rotate; the others do.

1, Retire in 1871; 2, in 1872; 3, in 1873. All eligible for re-election. OFFICERS.-Sec. and Eng., Thomas J. Bewick, C.E, Haydon Bridge, and 2, Westminster Chambers, Victoria Street, S. W.; Auditors, James Dewar, Newcastle-uponTyne, and James May Fothergill, Newcastle-upon-Tyne; Solicitor, R. R. Dees, Newcastle-upon-Tyne; Bankers, Lambton and Co., Newcastle-upon-Tyne and Hexham Offices-Haydon Bridge.

149.-HIGHLAND.

An incorporation of the INVERNESS AND ABERDEEN and the INVERNESS AND PERTH JUNCTION, sanctioned by 23 and 29 Vic., cap. 168 (29th June, 1865). In operation, 216 miles.

INVERNESS AND ABERDEEN JUNCTION.-Incorporated by 19 and 20 Vic.. cap. 110 (21st July, 1856), to make a railway from Nairn to Keith. Capital, 325,000l. in 10. shares; loans, 108,300%. Length, single line, 40 miles. Opened throughout 18th August, 1858.

By 23 Vic., cap. 9 (3rd April, 1860), the company was authorised to raise new capital to the extent of 150,000l. in shares, and 50,0001, on loans. At the meeting on 27th April, 1860, it was resolved that 150,000Z. be raised by creation of 15,000 shares of 102. each, bearing a dividend at the rate of 4 per cent. in perpetuity,

By 24 Vic., cap. 18 (17th May, 1861), the company was authorised to construct a branch from Alves station to Burghead. Length, 5 miles. New capital, 20.0007, in shares at 5 per cent., and 6,650l. on loan. By the same Act provision was made for additional station at Inverness. Opened 23rd December, 1862.

By 24 Vic.. cap. 8 (17th May, 1861), the INVERNESS AND NAIRN was consolidated with the Inverness and Aberdeen Junction. The former company was incorporated by 17 and 18 Vic., cap. 176 (1854). Capital, 80,000l. in 8,000 shares of 101. each. Length, single line, 15 miles; a branch to Harbour at Inverness, 4 furlongs. Opened 5th November, 1855. By 20 and 21 Vic., cap. 5 (26th June, 1857), the company was

K

authorised to issue 25,000. in preference stock, which amply sufficed to meet all liabilities. Power was also taken to dispose of unissued stock, with preferential dividend at 5 per cent.

By 25 and 26 Vic, cap. 113 (30th June, 1862), the INVERNESS AND ROSS-SHIRE WAS incorporated with the Inverness and Aberdeen Junction. The former included a line from Inverness and Invergordon. Length, 31 miles. Capital 215 000l. in 10. shares: loans, 71,600, which may be converted into debenture stock. Opened to Dingwall, 18 miles, on 11th June, 1862; to Invergordon on 23rd May, 1863. The Act of amalgamation provides that a preferential dividend of 3 per cent. be paid to the Ross shire s' areholders the first year after the opening of the line throughout to Invergordon, and per cent. additional each year thereafter until it reaches that paid on the Inverness and Aberdeen Junction ordinary stock at the time, after which both stocks go on together, and carry the same dividend ever after.

By 26 Vic., cap. 32 (11th May, 1863), the company was authorised to construct an extension from Invergordon to Tain and Bonar Bridge. Length, 26 miles. New capital, 160,000l. in shares at 3 per cent., to be increased 108. per anuum until dividend reaches that on ordinary stock, when it will take rank with the same. Loans, 53,0001. Opened to Meikle Ferry on 1st June, and completed to Bonar Bridge on 1st October, 1854.

INVERNESS AND PERTH JUNCTION.-Incorporated by 24 and 25 Vic., cap. 186 (22nd July, 1861), to construct a line from Forres, on the Inverness and Aberdeen to Birnam, on the Perth and Dunkeld, with a branch to Aberfeldy. Length, 112 miles Branch to Aberfeldy, 9 miles. Opened on 3rd July, 1864. Capital, 654,000. in 10 shares: loans, 218,000. Preference shares, 4 per cent. Trafic agreements with Scottish North Eastern, Scottish Central, and North British. The line was opene from Dunkeld to Pitlochry on the 1st of June, from Forres to Aviemore on 3rd August, and throughout on 9th September, 1863. By 26 Vic., cap. 61 (8th June. 1863), the company was authorised to make certain deviations, to cancel certain shares, and to re-issue the same at 5 per cent. preference.

PERTH AND DUNKELD.-Incorporated by 17 and 18 Vic.. cap. 148 (July 10th, 1854), for a line (83 miles) commencing by junction with Scottish Midland, near Stanley, and terminating in Dunkeld. Opened 7th April, 1856. Capital 80,000l. in 25 shares; loans, 20,0002 Amalgamated under Act of 1863 with the Inverness and Perth, at a preferential dividend of 6 per cent., on 28th February, 1854. The new capital authorised by the Amalgamation Act extended to 400,000 in shares. and 133,000! on loan. Traffic arrangements with Scottish North Eastern and Great North of Scotland.

SCOTTISH NORTH EASTERN.-The tolls between Stanley Junction and Perth general station were reduced to 5,000l. a year in perpetuity, irrespective of the quantity of traffic going over the line. This had been secured by Act of Parliament. as well as clause-protecting this company against an undue diversion of traffic via the Aberdeen route. The tolls during the last year amounted to very nearly 10,000!., and the amount was yearly increasing.

REVENUE.-The receipts for the half-year ending 28th February, 1870, including a balance of 1.2091. from preceding half-year, amounted to 101,25 ., aud the expenditure to 41.113.. leaving a net revenue of 60,1387. From this was deducted 31.2511. for int rest on debentures, loans, &c., 2,2801, for Dunkeld 6 per cent. preference, 1.1241. for Nairn 5 per cent. preference, 1.172. for Nairn 6 per cent. preference. 8.8931, for class A 4 per cent. preference, 7.4121. for class B 5 per cent. preference, and 7.3001. for dividend on ordinary stock, at the rate of 2 per cent. per annum, leaving a balance of 1064.

The receipts for the half-year ending 31st August amounted to 113,646., and the expenditure to 45,0291. leaving 68,616. From this was deducted 28,862. for interest on debentures and loans, 2,2801. for dividend on the Dunkeld 6 per cent. preference, 1.124. on the Nairn 5 per cent., 1,7721. on the the Nairn 6 per cent, 8,8931 on Class A 4 per cent. preference, 7.5701. on Class B 5 per cent. preference, and 14,599. on the ordinary stock, at the rate of 4 per cent. per annum, leaving a balance of 3,515. The dividend for the corresponding half of last year was at the rate of 34 per cent. per annum, while the working expenses amounted to 34 27 per cent. of the receipts as compared with 33:39 per cent. in the past half year. The increase in the traffic amounted to 2,726, which was composed of 1,5231 for passengers, 75 to goods and minerals, and 438 for live stock, while the number of passengers had increase from 466,890. to 471 5641. The rates and taxes had increased by 7591., and the government duty by 3641. The debentures were being renewed at 4 per cent, which would effect a saving of interest, as a considerable portion of them were now at 44 per cent.

DINGWALL AND SKYE-Tois line was opened for public traffic on the 19th August Inst, and the short experience of the Highland company's traffic warranted the directors in stating that it would become a valuable feeder to the line. The Duke of Sutherland's railway from Golspie to Helmsdale, a distance of 18 miles, would be partially opened this year, and throughout early next spring.

CAPITAL.-The statement of the stock and share account, showing the proportion received up to 31st August, 1870, gave the subjoined particulars :—

The receipts and expenditure on capital account to the same date were detailed as follow:

The estimate of further expenditure assumes 3,5001. fo the half-year ending 28th February, 1871, and 14,300l. for later periods. To meet this outlay of 17.8001, the assets are detailed as under:

Share capital authorised, but not created or sanctioned...

£69,920

Share capital created but not received

Calls in arrear.

£10,219

Amount unissued

Loans and debenture stock-balance of availing borrowing powers

120

Deduct capital account-balance at debit thereof.

£175,430 123,000

Total

£52,430

Meetings in March or April, and September or October, in Inverness. Quorum, 15 shareholders in person or by proxy, and holding 30,000l.

Scale of Voting-2 to 10 shares, one vote; for each 10 additional shares to 100, one vote; and for every 20 shares above 100, one vote.

No. of Directors-18; minimum, 9; quorum, 3. Qualification, 2,000l.

DIRECTORS:

Chairman--2 ALEX. MATHESON, Esq., M.P.. of Ardross, Ardross Castle, Rossshire, and 38, South Street, W.

Deputy-Chairman-2 Hon. THOS. CHARLES BRUCE, 42, Hill Street, Berkeley Square, W.

2 The Right Hon. the Earl of Seafield, 13 His Grace the Duke of Sutherland, DunCastle Grant, Grantown, Invernersshire, and 30, Old Burlington St., W. 2 George Loch, Esq, M.P., 2, Westmin-1 ster Chambers, Victoria Street, S.W.

2 Eneas W. Mackintosh, Esq., M.P., of Raigmore, Inverness, and 38, Upper Brook Street, W.

2 William James Tayler, Esq., of Rothiemay, Huntly

3 Alexander Inglis Robertson, Esq., of Aultnaskiah, Inverness.

3 Major Cumming Bruce, of Dunphail, Fories.

1

1

robin Castle, Sutherlandshire, and Stafford House, St. James's, S. W. Lieut. R. W. Dua, M.P., R.N., of Fetteresso, Stonehaven, and 29, Charles Street, Berkeley Square, W.

Colonel Hugh Inglis, of Kingsmills, In

1 R. B. Æ. Mack od, Esq., of Caduoll, In-
vergordon Castle, Invergordon.
James Merry, Esq., M. P., of Belladrum,
Beauly, and 65, Eaton Square, S.W.

3

1 Ewen Macpherson, Esq., of Cluny Mac- 1 Charles Waterston, Esq., Banker, Inverpherson, Cluny Castle, Kingussie.

ness.

3 Colonel Wm. Fraser-Tytler, of Aldourie, 3 James Falshaw, Esq., C.E., 26, Castle Inverness. Street, Edinburgh.

The directors who retire annually have their places supplied by the election of the shareholders in terms of the Companies Clauses Consolidation (Soutland) Act, 1845.

OFFICERS-Sec. and Gen. Man., Andrew Dougall; Goods Mans., Thomas Mackay and Thomas C. Lowson; Supt. of Line, William Roberts; Resident Eng., Peter Wilson; Loco. Supt., David Jones; Accountant, William Fenwick; Assistant Sec, William Gowenlock; Chiet Audit Clerk, C. S. Mc. Hardy; Auditors, A. Penrose Hay and William R. Grant, 1.verness; Solicitors, H. and A. Inglis, W.S.. Edinburgh, and Stewart, Rule, aud Burns, Inverness; Parliamentary Solicitors, Martin and Leslie, London; Baukers, Barclay, Bevan, Tritton, and Co., 54, Lombard Street, E. C., Commercial Bank of Scotland. British Linen Company Bank, and Caledonian Bank. Head Offices-Inverness.

150.-HOLYWELL.

Incorporated by 27 and 28 Vic, cap. 328 (29th July, 1864), to construct railways or tramways from Holywell to Greenfield, and to the Holywell station of the Chester and HolyLead. Length, 2 miles. Capital, 30,0007. in 10. shares, and 10,0007. on loan. Arrangements with London and North Western.

By 31 and 32 Vic, cap. 122 (13th July, 1868), the company was authorised to divert and relinquish the line authorised as above, and to substitute other railways. New capital, 10,001. in shares, and 3,300l. on loan. Works to be completed by July, 1871. Arrangements with London and North Western.

Meetings in February and August.

No. of Directors-6; minimum, 4; quorum, 3 and 2. Qualification, 5001.

DIRECTORS:

Thomas Linklater Lockington, Esq.
H. Laurence Bunn, Esq.

James Langhorne, Esq.

151.-HORNCASTLE.

Incorporated by 17 and 18 Vic., cap. 143 (1854), and estimated to cost 45,000l. Length, S miles. Capital, 48,000l. in 10. shares. Loans, 73,000Z. Single line. Opened 11th August, 1855. The line forms a junction with the Great Northern at Kirkstead, about 123 miles from Loudou. Worked by the Great Northeru for 50 per cent. of gross receipts. The Board of Trade, upon the application of this company, and with the concurrence of the Great Northern, made an order for the continuance of the existing arrangements between the two companies, as prescribed by the Horncastle Act, 1854, for a further period of 10 years from 1865, and the agreement of 11th February, 1855, has likewise been renewed for the same period.

REVENUE. For the six months ending December 31st, 1869, the net receipts amounted to 2,017, being a decrease of 1971. as compared with the corresponding six mouths of 1868. Inc uding sundry miscellaneous receipts, the balance available was 1,849., out of which a dividend of 7s. 3d. per share, lett 1461.

The revenue for the six mouths ending June 30th amounted to 1,850., as compared with 1,7277. in the corresponding period of 1869, showing an increase of 1231. Dividend, 65. per share, being at the rate of 6 per cent. per annum.

CAPITAL. This account is closed, the receipts having been 47,9701. in shares, and 13,000. on loan. The unissued shares amount to 301.

No. of Directors-8; minimum, 4. Qualification, 20 shares.

DIRECTORS:

Chairman-JAMES BANKS STANHOPE, Esq., Ravesby Abbey.

William Martin. Esq., Scamblesby.
The Rev. Thomas Livesey Stourton Hall,

near Horncastle.

Timothy Collinson, Esq., Horncastle.

John Elsey. Esq., Horncastle.
William Robinson, Esq., Asgarly.
Charles Hill, Esq., Winceby.

John Hindley Wright Scott, Esq., Horn-
castle.

The directors retire in rotation, one-third yearly, but are eligible for re-election. OFFICERS.-Sec. and Sol citor, Fred. W. Tweed, Horncastle; Auditors, Robert Clifton Armstrong and Henry Nicholson, Horncastle.

152.- HOUNSLOW AND METROPOLITAN. Incorporated by 29 and 30 Vic., cap. 336 (6th August, 1866), to construct a line from the Acton and Brentford, at Hanwell, to Hounslow, with a junction with the Great Western and Brentford. Length, 4 miles. Capital, 120,000l. in 107, shares, and 40,000%. on lean. Mutual facilities with Great Western.

By 32 and 33 Vic., cap. 35 (24th June, 1869), the period for completion of works was extended till 1872.

No. of Directors-5; mínimum, 3; quorum, 3 and 2. Qualification, 2001.

DIRECTORS:

Chairman-Sir JAMES CARMICHAEL, Bart., Sussex Place, Regent's Park, N.W. Charles Neve Cresswell, Esq., Spring Thomas Eyre Foakes, Esq., 4, New Square Lincoln's Inn, W.C.

Grove, Isleworth,

HOYLAKE-IDLE AND SHIPLEY-IRISH NORTH WESTERN.

153.-HOYLAKE.

133

Incorporated by 26 and 27 Vic., cap. 207 (28th July, 1863), to construct a line from a point immediately contiguous to Seacombe Ferry, proceeding near the northern side of the Birkenhead docks, through Poolton village to Bidston, and thence by way of Moreton, Sanghall-Massey, Great Meols, and Hoose, to the Hoylake terminus, adjoining the racecourse. From Bidston a branch will run into Birkenhead, terminating at Wallasey Bridge Road, near the dock cottages. Length, 8 miles. Capital, 100,000?, in 107. shares, and 33,3001. on loan. Opened, 54 miles, on 2nd July, 1865.

By 28 and 29 Vic., cap. 236 (5th July, 1865), the company was authorised to make an extension to New Brighton. Length. 42 miles. New capital, 91,000 in shares, and 30,000, on loan. Also to attach a preference to unissued or cancelled shares, and to create debenture stock.

By 29 and 30 Vic.. cap. 186 (16th July, 1866), the company was authorised to extend the line to Parkgate. Length, 8 miles. New capital, 200,0007. in divided shares and 66,0001. on loan.

Agreements have been entered upon with the Manchester and Sheffield and the Great Northern for a full and free interchange of traffic on completion of line.

The undertaking has fallen into bankruptcy part of it is sold, and the traffic suspended. No. of Directors-7; minimum, 5; quorum 3. Qualification, 5001.

DIRECTORS:

Chairman JOHN EVERITT, Esq., Banker, London.

Richard Kyrke Penson, Esq., Ludlow.

Frederick Adolphus Fvnney, Esq., Queen's
Chambers, Manchester.

OFFICERS. Traffic Man.. James Goulding; Eng., Benjamin Piercy, C.E., 19, Duke Street, Westminster, S. W.; Solicitors, Johnston, Farquhar, and Leech, Moorgate Street, E.C.; Bankers, North and South Wales Bank, Liverpool and Birkenhead,

Offices-7, Bank Buildings, Lothbury, E.C.

154-IDLE AND SHIPLEY,

Incorporated by 30 and 31 Vic., cap. 179 (12th August 1867), to construct a line from the Bradford Eccleshill and Idle to Shipley. Length. 24 miles. Capital, 55,000l. in 101. shares, and 18,3007. on loan. Facilities over Braford Eccleshill and Idle, and part of Great Northern. Meetings in February or March and in August or September. A bill is now before parliament to embody this line, as well as the Bradford and Eccleshill, in the Great Northern.

No. of Directors-5; quorum, 3.

Qualification, 1,000l.
DIRECTORS:

Samuel Waterhouse, Esq., M.P., 66, Pall
Mall, S. W., and Hope Hall. Halifax.
William Firth, Esq., Burley Wood House,
Leeds.

George Vint, Esq.
William Bower, Esq.
Thomas Booth, Esq.

155.--IRISH NORTH WESTERN.

Incorporated by 8 and 9 Vic., cap. 96 (July, 1845), for a railway communication between Dundalk and Enniskill n, with two banches therefrom. Original capital, 750,0001, in shares, and 250 0001. on loan; total, 1,000,0001.

In February, 1849, the line was partially opened, from Dundalk to Castleblayney, a distance of 20 miles.

On the 14th August, 1855, there was a further opening to Newbliss, being an extension of 10 miles: 16 mile to Lisnaskea, on 26th June: 6 miles t Lisbellaw, on the 16th August. 1858. The remaining 4 miles to Enniskillen were opened in January, 1859. On the extension from Bally bay to Cavan, 8 miles to Cootehill were opened on the 18th October, 1860.

By 20 and 21 Vic., cap. 104 (27th July. 1857), several deviations were sanctioned, and an extension of time on old ne obtained By the same Act the Dublin and Drogheda, and the Dublin and Belfast Junction re each authorised to contribute 30,000 towards completion of Dundalk and Enniskillen, cach appointing two directors to sit at the board of the latter.

By 21 Vic.. cap. 16 (21st May, 1858), the company is authorised to raise 75,000l. in shares at 6 per cent. out of profits of each year only. The company may also borrow, in addition to previous powers, 24 9001, on mortgage.

By 22 and 23 Vic., cap. 51 (1st August, 1859), the company was authorised to construct a line between Clones and Cavan, to which the Ulster, Dublin and Drogheda,