Leased

BEDFORD.-The company was incorporated 1845-15 miles. Opened November, 1846. Capital, 2.500 shares of 50l.. all psid, 125,000. Loan powers, 41.650. by L. and N. W. at 4 per cent, half surplus profits on one-half of the capital; the public hold 978 shares, the remainder, 1,522, subscribed by this company. This branch, treated as an integral portion of the main line, cost 264,2651.

HAMPSTEAD JUNCTION.-Incorporated by 17 Vic., cap. 222 (20th August, 1853), for a line from Willesden to the North London, with a branch to the North and South Western Junction. Length, main line, 6 miles; branch,mile. L. and N. W. subscribed 150,000l. Capital, 250,0001. in 10. shares; loans on mortgage or bond, 83,3331. By Act 19 and 20 Vic., cap. 52 (23rd June, 1856), an extension of one year for completion of works was obtained. By 22 and 23 Vic., cap. 13 (21st July, 1859), another extension of time for one year was concluded, and certain deviations authorised. New capital, to the extent of 150,000.. was also authorised, but without any preference being attached. Traffic included in receipts of London and North Western.

NORTH UNION.-Leased conjointly with the Lancashire and Yorkshire, for joint workings and fixed divisions of proceeds.

PRESTON AND WYRE.-Leased conjointly with the Lancashire and Yorkshire. This company takes one-third only of the loss or profit. By 28 Vic., cap. 22 (26th May. 1865), the L. and N. W. was authorised to raise 8,000l. in shares, and 2,00 on loan; and the Lancashire and Yorkshire 16,000l. in shares, and 4,000l, on loan, for the purpose of widening and otherwise improving the Preston and Wyre.

WEST LONDON.-Leased jointly with the Great Western.-See West London and also West London Extension.

NORTH AND SOUTH WESTERN JUNCTION.-Incorporated in 1851, for a line of about 4 miles, connecting this line with the S.W., and south of the Thames and Southampton, under an agreement to allow toll of 6 miles for minerals and 4 miles for passengers, and to secure to it a minimum of traffic sufficient to yield the shareholders at least 3 per cent. Det on their paid up share capital. All profits beyond, and interest on debts, and 6 per cent. to be divided, one half to the shareholders, and the remainder to the two contracting companies.

SHROPSHIRE UNION.-Incorporating the Newtown and Crewe, 1846; share capital, 1,500,000.; the Chester and Wolverhampton, 1846; share capital, 1.000, 2007; Shrewsbury and Stafford, 1846; share capital. 800,000l. total, 3,300,000, and 1.099,999, on loans. 154 miles, besides Ellesmere and Chester and Shrewsbury and Montgomery canals, purchased for 48,920., as stated under S. U., and loans about 814,2071. L. and N. W. subscribed 101,7327.; and 11 Vic., cap. 121 (1847), L. and N. W. agreed to lease and guarantee dividend on 600,0001. (cost of line), and canal capital (now called up 1,552,564.), equal to one-half of the dividend on L. and N. W. ordinary consolidated stock. A considerable portion of the original scheme is abandoned; and the remainder, with the canal leased by the L. and N. W., by 20 and 21 Vic., cap. 108 (27th July, 1857), and ratified by proprietors on 9th October, 1857.

CHESTER AND HOLYHEAD.-Incorporated by 7 and 8 Vic., cap. 65 (4th July, 1844), for a line from Chester to Holyhead harbour, 85 miles. The Mold (123) is incorporated under 11 Vic., cap. 162 (1847). The Bangor and Carnarvon (7 miles) is also included in the Chester and Holyhead. Total mileage, 105. Sea passage, passenger route, 66 miles to Kingstown; merchandise, 70 miles to Dublin. By 21 and 22 Vic., cap. 130 (23rd July, 1858). the Chester and Holyhead was authorised to be leased to or amalgamated with the London and North Western at a price not exceeding 50l. per 1001. stock. This arrangement was adopted by both parties in March, 1859, and has been acted upon, the Chester and Holyhead as a separate company being now dissolved. By 22 and 23 Vic., cap. 113 (13th August 1859), the company was authorised to use locomotive power on the tramways at Holyoead harbour, under the regulation of the Board of Trade. By 25 and 26 Vic.. cap. 104, the powers of the two companies for raising money were more clearly defined.

LANCASTER AND CARLISLE.-The London and North Western lease this undertaking for a period of 900 years, the share capital not to exceed 1,600,000l., including 350,000. held by London and North Western, the loan capital not to exceed 430,000.. making together 2,030 000. Neither the share nor loan capital to be increased without the consent of London and North Western. In no case is the Lancaster and Carlisle to receive less than 8 per cent. per annum (less income tax), and to increase according to the following scale, viz.:-On the London and North Western paying a dividend at the rate of 4 per cent. per annum, the Lancaster and Carlisle are to receive at the rate of 8 per cent.; on the London and North Western paying 4 per cent.. the Lancaster and Carlisle to receive 9 per cent.; on paying 4 per cent., the Lancaster and Carlisle to receive 9 per cent.; on paying 5 per cent.. the Lancaster and Carlisle to receive 9 per cent.; and on the London and North Western paying 6 per cent., the Lancaster and Carlisle to receive 10, and so on for any greater or less fraction than per cent. The Lancaster and Preston and Kendal and Windermere receive their due proportion of dividend according to the Act of 1849, and the agreement for amalgamation. The London and North Western to provide needful office accommodation, and pay direction, audit, secretary, and transfer expenses, but they are not to exceed 1,5251.

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CANNOCK MINERAL.-Originally incorporated in 1847 (as DERBYSHIRE, WORCES TERSHIRE, AND STAFFORDSHIRE JUNCTION), re-incorporated by 18 and 19 Vic., cap. 194 (14th August, 1855). Capital, 160,00. in 107, shares: loans, 40,000l. Commences on South Staffordshire at Cannock, and proceeds to Rugeley station of the Trent Valley. With the view of saving a cost of a duplicate station at Cannock, arrangements are made for the use of the South Staffordshire station at that place. Opened November, 1859. Leased to London and North Western at a rent of 5.500l. a year: being at the rate of 34 per cent per annum. This arrangement involved the following, in addition to minor stipulations:-The North Western to have all the privileges, and to be subject to all the liabilities of lessees, as referred to in the 112th and 113th sections of the Consolidation Act, 1845. save as regards any extraordinary expenses of maintenance, arising from subsidence caused by mining operations, where the Cannock Mineral have failed to purchase the minerals; and in the event of difference between the lessors or lessees, as to such extraordinary expenses, and the mode in which they shall be provided for. such difference shall be settled by an arbitrator, to be appointed under the provisions of the Clauses Consolidation Act, 1845. The Board of the Cannock to consist of nine directors, of whom five shall be approved by the North Western. In the event of the construction of any other railway forming communication between Colwick and the South Staffordshire at or near Cannock, the rent thereafter to be reduced to 5,000l. per annum. This arrangement was sanctioned by Parliament in 1855 and 1862.

WARRINGTON AND STOCKPORT. By 22 and 23 Vic., cap. 138 (13th August, 1859), this line is leased to the London and North Western at 5 per cent. on its preference capital, and 4 per cent. on its ordinary stock.

BLACKWALL-Under an Act passed 1852, the Blackwall constructed a short branch to connect their line with the warehouses in Haydon Square, which this company purchased for goods traffic. This company have agreed to pay the interest of the cost of that brauch, and a certain fixed annual amount as toll.

WHITEHAVEN JUNCTION.-Incorporated 30th June, 1844, for a railway from the Maryport junction (Maryport to Carlisle) to Workington junction (Cockermouth and Workington) and Whitehaven (Whitehaven and Furness). Branch to Maryport Dock for traffic 1 mile, opened September, 1859. Length, 13 miles. By Act 11 and 12 Vic., cap. 91 (22nd July, 1848), the company was authorised to raise the sum of 33,000l. in preference shares and 11,000. on mortgage, and by Act 17 Vic., cap. 24 (2nd June, 1854), the sum of 12,000. in preference shares and 4,000l. en mortgage, the whole of which powers were exercised by the issue of 25,000l. in 51. shares at 6 per cent., 7.000. in 7 shares at 4 per cent.. 10,000. in 10. shares at 5 per cent., and 3.0007, in 67. shares at 5 per cent.: total, 45,000l. in shares and 15,000l. on mortgage. By 21 and 22 Vic., (23rd July, 1858), the company was authorised to raise new capital to the extent of 65,0001. at 5 per cent. per annum, which power was exercised on the 25th August, 1858, by an issue of 201. preference shares. By 28 Vic., cap 68 (2nd June, 1864), the company was authorised to enlarge the station accommodation at Whitehaven, and to raise new capital to the extent of 50,0001, by mortgage. By 29 and 30 Vic., cap. 190 (16th July, 1866), the Whitehaven Junction was vested at a fixed dividend of 10 per cent., in the London and North Western, which thereby obtained running powers over a portion of the Whitehaven and Furness.

COCKERMOUTH AND WORKINGTON.-Incorporated by 8 and 9 Vic., cap. 120 (July, 1845). A line from Cockermouth to Workington Harbour; it is three-fourths coal traffic line; joins the Whitehaven there. Length, 8 miles. Opened throughout, 28th April, 1847. An Act was passed 13 Vic., cap. 48 (1849), for a branch from Marron Foot to Bridge Foot, mile. By 26 Vic., cap. 43 (8th June, 1863), the company was authorised to construct a small branch and several works. Length, mile. New capital, 20,0007. in shares, to participate in dividend same as original shares, and 4,000l. at a guarantee of 4 as preference A shares. By 23 and 30 Vic., cap. 189 (16th July, 1866), the Cockermouth and Workington was vested in the London and North Western on the terms following:-For 18 months ending 31st December, 1866, 7 per cent.; for the next year, 8 per cent; for the year 1868, at the rate of 9 per cent.; and 10 in perpetuity thereafter. STOCKPORT, DISLEY, AND WHALEY BRIDGE-Incorporated by 17 and 18 Vic., cap 200 (July 31st, 1854), for making a railway from the London and North Western, near Stockport, to Disley and Whaley Bridge. The line branches off from the London and North Western, near Stockport, runs along between that railway and Hazelgrove, passes through the Norbury coal-field, not far from Poyuton, under the Macclesfield canal, skirts the eminence of Lyme Park, and the pond at Disley, crosses under the turnpike road by a short turn, and then runs for the greater part of its course between the canal and the road to Whaley Bridge. Capital, 150,000l., in shares of 201. each. Power to borrow 50 0007. Length of line. 10 miles 6 chains. By 18 and 19 Vic, cap. 130 (July 16th, 1855), the London and North Western may hold shares to an amount not exceeding 85,000. The sum was voted, and an agreement to work the line entered into. Opened to Whaley Bridge on 9th June, and the junction with the Cromford and High Peak on the 17th August, 1867. By 20 and 21 Vic., cap. 98 (27th July, 1857), an extension to Buxton (9 miles) was sanctioned. New capital, 200,000l. in shares, and 66,000l. in loans. Estimate, 200,0001. Conrpulsory purchase of land, three years; completion of works, four years. The London and North Western subscribe 105,000l. to this extension.

Opened 15th June, 1964. By 23 and 24 Vic., cap. 136 (3rd July, 1860), the company was authorised to raise additional capital in shares, to the extent of 35,000l., and on loan to 10,000. By Act of 1866, the Stockport Disley and Whaley Bridge, includi. g the Buxton Extension, was transferred to the London and North Wester, the following resolutions being adopted on the 16th November, 1866:-"That additional new capital, not exceeding 385,000l., be created for the conversion of the shares of the Stock port Disley and Whaley Briage into au equivalent amount of stock of the London and North Western Company, bearing a preferential dividend, without further participation of profits, at 4 per cent. per annum, payable half-yearly."

BIRKENHEAD. The terms of arrangement with this company, in conjunction, with the Great Western, are as follows:-The two companies, as from 1st January, 1860, assume the Birkenhead debenture stock, mortgage debt, and abilities on capital account, not exceeding in the whole 512,0007. The two companies to pay half-yearly, as from 1st January, 1866, dividends upon Birkenhead ordinary capital of 1,941,5051, after the rates following, viz.:-For the years 1860 and 1861, 24 per cent. per annum; for the years 1862, 1863, 1864, and 1865, 34 per cent. per annum; and for the year 1866 and thereafter, 4 per cent. per annum. If during the year 1852 the earnings of the Birkenhead, after deduction of interest on cebt, and an estimated per centage for working expeuses, shall exceed the rate of 21 per cent. per annum, then the next higher rate of 33 per cent. per annum shall commence, and be paid in respect of the year 1861, the certificate of the auditors of the two companies on that point being final and conclusive. The two companies to keep the Birkenhead register of stock, and to distribute the dividend, &c. This arrangement was final y completed in August, and the leas ng companies took possession on 18th November, 1860.

OLDHAM, ASHTON, AND GUIDe Bridge-By 22 and 23 Vic. (13th August, 1859), the London and North Western was authorised to contribute 50,000l. towards completion of this undertaking; and by 25 and 26 Vic., cap. 98 (30th June, 1862), that line is vested mutually in the London and North Western and Manchester Sheffield and Lincolnshire.

LEEDS NEW CENTRAL STATION. By 28 and 29 Vic., cap. 267 (5th July, 1865), the London and North Western and the North Eastern obtained power to erect a new Central Station in Leeds. New capital to each company, 100,0007, in shares and 33,000. on mortgage.

CARNARVON AND LLANBERIS -Incorporated by 27 and 28 Vic., cap. 186 (14th July, 1864), to construct a line from Carnarvon to Llanberis. Length, 9 miles. Capital, 110,0007. in 101. shares and 36,6001. on loan. Opened 1st July, 1869. By 28 and 29 Vic., cap. 326 (5th July, 1865), the company was authorised to construct an extension to the Bangor and Carnarvon line of the London and North Western, with a branch into the Bettws Garmon Valley. Length, 10 miles. Capital, 138,0001, in shares and 46,000, on loan. By 30 and 31 Vic, cap. 151 25th July, 1867), an agreement was confirmed by which the London and North Western was "dmitted as joint owners of the line extending 5 miles beyond Llanberis, at which point the London and North Western may construct a junction with the Bangor and Carnarvon. By the same Act the Carnarvon and Llanberis were authorised to attach a preference to unissued shares. By 31 Vic., cap. 21 (29th May, 1868), the company obtained power to construct several new works, and to abandon other portions of the line, to be completed in 1872. The London and North Western contributed 50,000l. of new capital. Vested in London and North Western.

CARNARVONSHIRE.-Incorporated by 25 and 26 Vic, cap. 202 (22nd July, 1862), to construct a line from the Bangor and Carnarvon Branch of the London and North Western to Fort Madoc. Length, 773 miles. Capital, 200,0007. in 10. shares: loans, 65,5007. Opened 2nd September, 1867. By 28 and 29 Vic. cap 175 (29th June, 1865), the company obtained an extension of time till June, 1867, for completion of its works. By 30 and 31 Vic., cap. 15 (25th July, 1867), the Carnarvonshire was authorised to make certain deviat ons, to be completed within two years, and also to exercise running powers over the Cambrian between Pwllheli and Port Madoc.

NANTLLE. Incorporated by 6 Geo. IV, cap. 63. for making a tramroad from Llandwrog to Carnarvon. Capital, 20,000l. By Act of 1827, the company obtained power to borrow 20,000l. By 28 and 29 Vic., cap. 337 (5th July, 1885), the company was authorised to widen and extend the line. Length, 17 miles. Capital, 120,000l. in shares and 40,000, on loan. By 30 and 31 Vic., cap. 152 (25th July, 1867), the Nantlle was vested in the Carnarvonshire, the whole of the capital of the former being cancelled, and 1,000 preference shares at 5 per cent. issued to the Nantile shareholders instead. By new Act the capital of the united undertaking consists of:-Ordinary shares, 190,000; preference shares, 10,000l.: debentures, 126,500l. The above Act also gives power to convert 80,000l. (at present unissued) of the ordinary shares into 5 per cent. preference shares.

FLEETWOOD, PRESTON, AND WEST RIDING JUNCTION.-Incorporated by 9 and 10 Vic., cap. 246 (27th July, 1864), for a line from Preston to Clitheroe, to join the Blackburn. This company purchased the Preston and Longridge for 48,0001.. and an Act 19 and 20 Vic., cap. 44 (23rd June, 1856), prescribes that there shall be no revival of

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powers to construct any further portion of the line. Capital, restricted to 27,000l. Shares may be divided, and dividend guaranteed on second portion when first half is paid up Borrowing powers, 50,000l. The purchase money of Preston and Longridge was paid in instalments of 6,000l. on 31st of August of each year, commencing in 1856, and completed on 30th June, 1860. Length of line, inclusive of Longridge, 8 miles. By 30 Vic, cap. 95 (17th June, 1867), the Fleetwood is vested joint y in the London and North Western and the Lancashire and Yorkshire, on terms of the following agreement, dated 12th May, 1866:"1. The purchasers to pay 8 net f r each paid up share in the undertaking, within two years from 1st July 1ext, thre moths' notice of payment to be given, and interest at the rate of 5 per cent. per annuin is to be paid on the purchase money from the 1st of July next, until the date of payment. 2. The mortgage debt and liabilities on capital account to be take by the purchasers. 3. The sellers to pay and receive their own simple contract debts and cred ts, including parliamentary expenses, up to 1st of July next, when the transfer is to take ef ect. 4. The current hair-year's revenue account of the sellers is to be made out upon the same principle as beretofore. 5. The purchasers are to pay 1,000, to the sellers, towards their parliamentary expenses. 6. The purchasers to pay the expenses of any pariiamentary authority that may be necessary for carrying out the purchase.'

SOUTH STAFFORDSHIRE.-The agreement has been completed by a settlement with the lessee, under which all questions, the subject of arbitration, were withdrawn, on payment of the sum of 110,0997., including the lessee's interest in the unexpired term of the eleven years in the agreement known as the "Four Town's Agreement."

MERTHYR, TREDEGAR, AND ABERGAVENNY.-Incorporated by 22 and 23 Vic, cap. 59 (1st August, 1859), to supply railway communication to the district between Merthyr and Abergavenny. Capital, 150,0007, in 201, shares. Loans, 49,9001. The length of the first railway is 95 miles; the secono, 4 miles By 25 and 26 Vic., cap. 209 (7th August, 1862), the line was leased for a thousand years to the London and North Western, at 5 per cent., with special facilities to the Great Western. By 26 and 27 Vic., cap. 126 (13th July, 1863), the company was authorised to execute some deviation and new works, and to raise additional capit 1 to the extent of 70,003. in shares and 23,000l. on loan, for the purpose of doubling the line. By the London and North Western (Additional Powers in Wales) Act of 1865, the time for doubling this line as extended to 1st August, 1868. The company was dissolved, as from 30th June, 1866, the line now forming part of the London and North Western system, the shares being converted into 5 per cent. preference stock, the London and North Western undertaking the debenture debt and every other liability.

BEDFORD AND CAMBRIDGE.-Incorporated by 23 and 24 Vic, cap 183 (6th August, 1860), to construct a line commencing by a junction with the Betch ey and Bedford brauch of London and North Western, and terminating at Cambridge, by a junction with Great Eastern. Length, 29 miles. Capital, 240,000l. in l. suares. Opened 1st August, 1862. Worked by Loudon and North Western, which subscribed 70,000l. By 27 and 28 Vic., cap. 62 (23rd June, 1864), further arrangements were authorised with the London and North Western. New capital was also authorised to the extent of 50,000l. in shares. The line is leased to the London and North Western at 4 per cent. in perpetuity, and has ceased to exist as an independent company.

CONWAY AND LLANRWST.-Incorporated by 23 and 24 Vic., cap. 149 (23rd July, 1860), to construct a line from Chester and Holyhead, near Conway, to Llanrwst. Length, 11 miles. Capital, 50,000l. in 107. shares; loans, 16.6667. By 24 and 25 Vic., cap. 179 (22nd July, 1861), the company was authorised to make a deviation and alteration in the live, to be completed within three years. Also to raise addit onal capital, 10,000, in shares and 3,3007. on loan. Opened 17th June, 1863; by 26 and 27 Vic., cap. 217 (28th July, 1863), transferred to London and North Western, at a rent equal to 5 per cent. on the share capita'. The London and North Western Act of 1865, conveys power to that company to convert Conway and Llanrwst stock into London and North Western capital.

ST. GEORGE'S HARBOUR.-Incorporated by 16 and 17 Vic., cap. 213 (1953), to construct a harbour, with pier and the works, at Llandudno, with a railway to the Chester and Holyhead. Capital, 150,000, in 201, shares, and 5,000l. on loan. By Act of 1853, new capital was authorised, but power to construct the harbour became extinct. By 24 and 25 Vic., cap. 219 (1st August, 1861), a lease or sale of the railway to the London and North Western was permitted, and the capital of the undertaking restricted to 70,0001, in shares. Loans, 20,000l. Rent not to exceed 2,501., which may be redeemed by London and North Western allotting stock bearing fixed dividend equal to that amount.

SHREWSBURY AND HEREFORD.-This line is leased at 6 per cent., one-half by the London and North Western, and the other moiety by the Great Western. It is now vested absolutely in the two companies.

SHREWSBURY AND WELSHPOOL.-Incorporated by 19 and 20 Vic., cap. 132 (July, 1856), to construct a line from general station at Shrewsbury to junction with Oswestry and Newtown at Welshpool, with branch to Minsterley. Capital, 150,000, in 107. shares. Loans 50,000l. Length of main line, 16 miles, and of branch, 5 miles. Company may use part of Shrewsbury and Hereford. Board of Trade to decide in case of disagreement. By 21 and 22 Vic., cap. 110 (23rd July, 1858), an extension of time for two years was conceded. The directors entered into a contract with Mr. Alexander Thomas Gordon, by which he engaged to purchase land, construct the railway, and pay all incidental expenses up to opening of line and to keep it in repair for one year after opening, for a sum equal to that upon which the interest and dividends are recured by under mentioned engagements with Loudon and North Western. By 23 Vic, cap. 25 (18th May, 1860), the company was authorised to make certain deviations and alterations in levels, to raise further capital to the extent of 30,000l., which has been issued at 4 per cent. preference. Extension of time till 15th May, 1862. By 24 Vic. cap. 13 (17th May, 1861), the company was authorised to widen the Minsterley branch, and to raise further capital, 12,000l. in shares, and 4,000, on loan. By 23 and 27 Vic. cap. 97 (29th June, 1863), the company was authorised to raise new capital to the extent of 54,000l. in shares at 5 per cent., and 18,000l. on loan, for the purpose of doubling the line to Hanwood. Also to authorise sale or lease to London and North Westeru and Great Western jointly. By 27 and 28 Vic., cap. 196 (14th July, 1864), the Shrewsbury and Welshpool was leased to the London and North Western, or jointly to that company and the Great Western, for 300,0007. in perpetual 4 per cent. preference stock.

SOUTH LEICESTERSHIRE.-Incorporated by 22 and 23 Vic., cap. 104 (18th August, 1850), to construct a line from the Trent Valley, at Nuneaton. to Hinckley, in Leices tershire. Capital. 45,000l. in 10. shares; loans, 14,0001. Single line. Length, 41 miles. Estimate. 42,000l. Extra land, two acres; compulsory purchase, two years; completion of works, three years. Traffic and working arrangements with London and North Western under usual restrictions calculated to realise 4 per cent. Company or London and North Western to use Midland between Rugby and Leicester, and Midland, in return, to use the line between the Wigston Magna and Nuneaton and London and North Western, as far as Coventry. Mutual accommodation in respect to stations, and regulations in regard to tolis. By 23 Vic., cap. 91 14th June, 1860), the company was authorised to change its name as above, and to extend its line from Hinckley to Wigston Magna on the Midland. Length, 10 miles. New capital, 150,000l. in shares, and 50,000l. on loan. The Midland also entered into an agreement with the directors and those of the London and North Western for mutual accommodation of the traffic of the district, including terminal station arrangements. Opened from Nuneaton to Hinckley, 4 miles, on 1st Januury, 1862; from Hinckley to Wigston Junction, 1st January, 1864. Dividends at the rate of 4 per cent. have been regularly declared.

ST. HELENS.-An amalgamation of the SANKEY BROOK NAVIGATION and ST. HELENS AND RUNCORN GAP RAILWAY, under the powers of an Act passed in 1845 (8 and 9 Vic., cap. 117). In 1846 powers were required to construct a brauch from the original line at Widnes to Garston, four miles souta of Liverpool, and to make decks at Garston; and in 1847 to improve the main line and to construct branches to Warrington and to Blackbrook. In 1853, to make branches to Rainford and to Eccleston. Productive mileage, 36 railway (including 14 in lease to London and North Western) and 16 canal. By 20 and 21 Vic., cap. 16 (26th June, 1857), new capital was authorised to the extent of 100,000l. of 6 per cent.. for the general purpo-es or the undertaking. By Acts of 1859, the London and North Western was authorised to construct a live from Edgehill to the St. Helens, near Garston, making a new route to Manchester of 36 miles in leugth; also to lease the Warrington and Stockport. By 23 and 24 Vic. (14th June, 1860), a portion of the St Helens (from Warrington to Garston, 14 miles) was leased to the London and North Western, at a rent of 12,0001. per annum. The St Helens was also authorised, by the same Act, to create new capital, to the extent of 100,000 at 5 per cent. preference, and 33,000l. on loan. By 27 and 28 Vic., cap. 296 (29th July, 1864), the remainder of the St Helens became vested in the London and North Western; the latter company guaranteed the ordinary stock at 4 per cent. for 1865, 4) for 1866, and 5 in perpetuity thereafter. Power to Lancashire and Yorkshire to use part of St Helens.

CENTRAL WALES.-Incorporated by 22 and 23 Vic., cap. 121 (13th August, 1859), to construct a line from Knighton to Llandrindod, in Radnorshire. Length, 20 miles. Capital, 160,000l. in 101. shares; loans, 53, 3007. Opened in September, 1865, and worked by London and North Western. By 26 and 27 Vic., cap. 79 (22nd June, 1-63), amalgama ion with the Knighton (12 miles) was au horised. The two lines extend from Craven Arms, on the shrewsbury and Hereford, to the Central Wales Extension at Llandrindod. United existing capital, 326,000 in shares, with one-third additional on loan. New shares may be issued by the Knighton to the extent of 40,000l., and by the Central Wales, 60,000l., each at 5 per cent., with 33,000, on loan, vested in the London and North Western at 4 per cent.