CAPITAL. This account showed that 1,011,1127. had been expended, the detalls being as follow: No. of Directors—9; minimum, 5; quorum, 3. Qualification, 500% DIRECTORS: Chairman-SAMUEL GURNEY SHEPPARD, Esq., 29, Threadneedle Street, E.C. John Borradaile, Esq., 4, St. Helen's Abel Chapman, Esq., 79, Old Broad William Bailey Hawkins, Esq, 2, Suffolk Wm. Lefeaux, Esq., Glandwr, Llanidloes. ter. Francis Philips, Esq., Lee Priory, Wing ham, Sandwich, Kent. OFFICERS.-Gen. Man., F. Broughton, Brecon; Sec., John Wade, 75, Ethelbarga House, Bishopsgate Street, E.C.; Solicitor, S. F. Noyes, 1, Broad Sanctuary, W、stminster, S. W.; Auditors, Mr. Chandler, Shrewsbury, and Mr. Wilding, Montgomery. Offices-75, Ethelburga House, Bishopsgate Street, E.C. 215.-MILFORD. Incorporated by 19 Vic., cap. 14 (5th June, 1856), for making a line from Johnston Station of Neyland Extension of the South Wales to the town of Milford. Broad gauge. Capital, 60,0007. in 107. shares; loans, 20,0001. Length, 34 miles. By 26 and 27 Vic., cap. 200 (28th July, 1863), an extension of time to 28th July, 1864, was conceded. New capital, 10,0001, in shares, and 3,000l. on loan. The line was opened for traffic in September, 1863, and is worked by the Great Western. It was reported in August, 1870, that the additional rent of 60^7. per annum becama payable after 7th September, from which date the full rent of 1.2007. per annum wiЯ be received, in addition to the interest contributed by the Great Western, in respect of capital expenditure by the Milford. CAPITAL.-The receipts and expenditure on this account to 30th June, 1870, have been detailed as under: Chairman-2 RICHARD BASSETT, Esq., Bonvilstone, Cardiff. 2 Admiral Stokes, Scotchwell House, 1 F. N. Micklethwait, Esq., 3, Chapel Haverfordwest. Street, Park Lane, W. 3 Frederick George Saunders, Esq.. West- 1 J. W. Williamson, Esq., 24, Warwick bourne Lodge, Paddington, W. 3 Charles Whetham, Esq., 52, Gordon Square, W.C. Road, Maida Hill, W. 1 Retire in February, 1871; 2, in 1872; 3, in 1873; all eligible for re-election. OFFICERS.-See., A. Currey; Eng., W. G. Owen; Auditors. W. R. Barwis and R. G. Marwood; Solicitors, Marriott, Jordan, and Cooper, 3, Westminster Chan bers, S.W. Offices-Paddington Station, W. MILFORD HAVEN-MISTLEY, THORPE, AND WALTON-MOLD, ETC. 215 216.-MILFORD HAVEN. Incorporated by 23 and 24 Vic., cap. 156 (23rd July, 1860), to construct a railway, docks, and other works on the north side of Milford Haven. Length, 14 mile Capital, 140,0007, in 107. shares; calls, 27. 10s., with intervals of three months. Loans, 46,000. Traffic arrangements with Great Western. By 26 and 27 Vic., cap. 163 (21st July, 1863), an extension of time for completion of works was obtained till 21st July, 1866. By 30 Vic., cap. 6 (12th April, 1867), the company obtained an extension of time till 1870 for completion of the works authorised in 1860 and 1863. By 33 and 34 Vic., cap. 99 (20th June, 1870), an extension of time for ten years was authorised for completion of works. No. of Directors-6; minimum, 4; quorum, 3. Qualification, 2007. DIRECTORS: Chairman-CHARLES REED, Esq., M.P., 4, Fann Street, Aldersgate Street, E.C. Deputy-Chairman-JOSEPH FREEMAN, Esq. Henry Constable, Esq. Alfred Beeston, Esq. G. A. Hillier, Esq. OFFICERS.-Sec., J. R. Flynn; Traff. Man., John Milnes; Eng., J. M. Toler. Offices-7, Westminster Chambers, Westminster, S. W., and Milford, South Wales. 217.-MISTLEY, THORPE, AND WALTON. Incorporated by 26 and 27 Vic., cap. 178 (21st July, 1863), to construct a line from Mistley, on the Great Eastern, to Walton-on-the-Naze. Length, 12 miles. Capital, 60,000l. in 101. shares, and 20,0007. on loan. Arrangements with Great Eastern, which subscribes 20,000, appoints two directors, and is to work the line at 48 per cent. By 27 and 28 Vic., eap. 144 (30th June, 1864), the company was authorised to construct an extension to join the Tendring Hundred. Length, 2 miles. Capital, 15,000%. in shares, and 5,000. on loan. By 28 Vic., cap. 4 (9th May, 1865), the capital of the company was reduced to 36,0001. in shares, and 12,000l. by loan, in consequence of the Tendring Hundred being authorised to construct a portion of the line previously conceded to the Mistley, from Thorpe to Walton. Authority has been obtained from the Board of Trade for abandonment of the remainder of the undertaking. No. of Directors-6; minimum, 3; quorum, 3. Qualification, 500%. DIRECTORS: Chairman-The Right Hon. The MARQUIS OF SALISBURY, 20, Arlington Richard Young, Esq., Wisbeach. Street, S.W. William H. Wilson, Esq., 6, Victoria OFFICERS.-Sec., John Sizer, Manningtree; Eng., James S. Cooke, 12, Abingdon Street, Westminster, 8.W.; Solicitors, Patteson and Cobbold, 17, New Bridge Street, Blackfriars, E.C., and Charles Spencer Owen, Manningtree. Offices-Manningtree, and 12, Abingdon Street, Westminster, S.W. 218.-MOLD AND DENBIGH JUNCTION. Incorporated by 24 and 25 Vic., cap. 247 (6th August, 1861), to construct a line from the Mold branch of the Chester and Holyhead to Denbigh, on the Vale of Clwyd. Length, 144 miles. Capital, 125,0007. in 207. shares; loans, 41,000. Arrangeinents with London and North Western. By 28 and 29 Vic., cap. 172 (29th June, 1865), the company was authorised to make several deviations, and to raise further capital to the extent of 100,000l. in shares, and 33,000l. on loan. By 28 and 29 Vic., cap. 271 (5th July, 1863), the company was authorised to make certain new lines and to abandon a portion of the authorised railway. Capital, 100,000. in shares, and 33,0007. on loan. By 29 and 30 Vic., cap. 250 (23rd July, 1866), the company was authorised to construct four short branches, and to make a deviation in another part of the line. Length, 8 miles. Capital, 134,000l. in shares, and 44,0007. on loan. By 30 and 31 Vic., cap. 164 (25th July, 1867), the company was authorised to exercise running powers over parts of the Vale of Clwyd and of the Wrexham Mold and Connah's Quay; to divide the shares into deferred and preferred; to create debenture stock; and to pay 6 per cent. to the Vale of Clwyd for outlay on extension of station at Denbigh. A scheme of redemption was filed in the Court of Chancery in March, 1868, full details of which appeared in the MANUAL for 1869. Opened 6th September, 1869, and worked by London and North Western. REVENUE. The receipts from the several sources of traffic for the half-year ending June 30th, as compared with those carned between September 6th and December 31st, 1869 (nearly four months), were as under: 1869. £646 322 657 73 51 After payment of rent-charges and interest on A debenture stock, a balance of 9291. was carried to the next account. CAPITAL.The expenditure on this account to 30th June, 1870, amounted to 570,0391; the receipts, which left a balance in hand of 1,011., having been as under:Shares and stock Loans and debenture stock £325,000 No. of Directors-5; minimum, 3; quorum, 3. Qualification, 2001. DIRECTORS: Philip Pennant Pennant, Esq., Brynbella, | A. T. Roberts, Esq., Coed dû. Mold. George Moore Dixon, Esq., Bucknowle E.C. OFFICERS.-Sec., John Wade; Eng., George Bellis, Mold; Solicitors, S. F. Noyes, 1, Broad Sanctuary, Westminster, S.W., and Kelly, Keene, and Roper, Mold. Offices-75, Ethelburga House, Bishopsgate Street, E.C. 219.-MONMOUTHSHIRE. Incorporated by 8 and 9 Vic., cap. 169 (31st July, 1845), for a line from Newport to Pontypool, 12 miles (with several branches and canal). This railway was authorised to be made by the Monmouthshire Canal Navigation (which, as a canal company, has previously been in existence more than 50 years), by raising additional capital. Productive, 474 miles. By 18 Vic., cap. 10 (May 6th, 1855), the company obtained power to raise further capital to the extent of 202,510, at a preference not exceeding 6 per cent. Power to borrow 67,5001. by mortgage was also given by the same Act. At a special meeting on the 30th May, 1855, the company resolved to raise the sum of 202,5007. by creation of 6,750 shares of 301. each, bearing a preferential interest, in perpetuity, at the rate of 5 per cent. The company subscribes 20,000/ to Newport Docks, By 24 and 25 Vic., cap. 218 (1st August, 1861), the company was authorised to construct some short connecting lines. Length, 5 miles 8 chains. Completion of works, three years. New capital. 100.000/. in 5 per cent. preference shares, and 25,000. on loan. Unissued and forfeited shares to be cancelled, and reissued at 5 per cent. preference. These shares were issued as ordinary stock, on 18th September, 1862. The West Midland obtained powers to use compulsorily the Eastern Valley between Coed-y-gric and Newport. The London and North Western also obtained power to enter into agreements with the Monmouthshire for working and transmission of traffic. By 28 and 29 Vic., cap. 281 (5th July, 1865), the company was authorised to raise further capital to the extent of 200,00 7. in shares, and 50,000!. on loan; also to purchase the Brecon and Abergavenny canal and to construct two short branches in the mineral district, and to purchase new rolling stock. By the Alexandra Dock Act, the Monmouthshire may subscribe 20,000l. to that undertaking. REVENUE. The subjoined tables exhibit the gross receipts, expenses, and net earnings for three years, the June and December half-years being given separately. - The average rate of interest on the borrowed capital, extending to the full amount of 386,4501., is 41. 9s. 4d. per cent. Revenue is charged with replacements of stock, but additions required by the increasing traffic are to be placed to capital. The surplus to December half-year, after payment of the dividend, was 6612 CAPITAL.-The expenditure on this account extended on 30th June, 1870, to 1,454,287., the receipts having been 1,489,5977., the particulars being given as follow: Received. Expended. Shares and stock .................. £1,073,964 On lines open for traffic .......... ..£1,191,878 Loans per account Mon. railway-forfeit money.. Surplus land sold .................. 386,450 On lines in course of construc- ..... 29,935 114,611 Subscriptions to Newport dock 40,000 (Newport, Mon.) dock 16,000 The statement of stock and share capital, showing the proportion received, gave the subjoined details: 107. shares, ordinary (1865), (including 20,0007. in Alexandra Premium received upon 57. per cent. preference stock (1855) 174 £1,073,964 Election and Scale of Voting-In accordance with "The Companies' Clauses Act, 1845." No. of Directors-Limited to 13. Qualification-5 shares of 1007. each. DIRECTORS: Chairman-The Right Hon. LORD TREDEGAR, Tredegar Park, Newport, and 39, Portman Square, W. Charles Octavius Swinnerton Morgan, Crawshay Bailey, Esq., Nant-y-glo. Thomas Gratrex, Esq., Maindee, near O. A. Wyatt, Esq., Troy House, near George Cave, Esq., Burfield House, West- Charles Walter Savage, Esq., Westbury, Edward J. Phillips, Esq., Maindec, near Francis Tothill, Esq, Ewell, Surrey. William Evans, Esq., The Fields, Newport. 220.-MONTROSE AND BERVIE. Incorporated by 23 and 24 Vic., cap. 142 (3rd July, 1860), to construct a line from Inverbervie to the Montrose branch of the Scottish North Eastern. Length, 13 miles. Capital, 70,0001. in shares; loans, 23,000l. Agreements and arrangements with the Scottish North Eastern, which subscribes 15,000l. Opened 1st November, 1865. REVENUE. The receipts for the half-year ending 31st January were 1,8457, and the expenditure 1,376., leaving a balance of 4701. Deducting interest on mortgage loans and general interest the surplus was 431. The deficiency from the opening of the line to 31st January, 1870, stood at 7961. The following is an abstract of the revenue for the July half-year :-Revenue Expenditure.. £1,747 Interest on mortgage loans Less-Interest on banking balances Surplus of revenue beyond the charges on the half-year Deficiency from previous accounts.......... 1,308 £439 407 3 = 404 £35 796 £761 Balance, being deficiency from opening of line to 31st July, 1870.......... CAPITAL.-The expenditure on this account to 31st July, 1870, amounted to 87,992., the receipts having been 70,0001. in shares and 19,5007. on loan, leaving a balance in hand of 1,5077. No. of Directors-6; minimum, 3. Qualification, 2001. James Farquhar, Esq., Hallgreen. DIRECTORS: Chairman-HERCULES SCOTT, Esq., Brotherton. Alexander Porteous, Esq.. Lauriston. Frederick G. Forsyth Grant, Esq., Eccles- David Mitchell, Esq., Contractor, Montgreig. rose. OFFICERS.-Secretary, James Crockatt; Auditors, James Marquis and James Meston, Accountants, Aberdeen. Offices-Stonehaven. 221.--MORAYSHIRE. Incorporated by Act 9 and 10 Vic., cap. 178 (16th July, 1846), for a line from Stottfield and Lossiemouth Harbour to Elgin (6 miles). Capital, 29,7007. in 107. shares, and 9,900. in loaus. Opened 10th August, 1852. By 19 and 20 Vic.. cap 86 (14th July, 1856), the company was again authorised to construct a railway from Orton to Craigellachie. Length, 53 miles. Capital, 25,000 in 107. shares; loans, 8,3331. Power to enter into agreements with Inverness and Aberdeen, as to use of station at Elgin, and traffic arrangements with that company and Inverness and Nairn, under usual stipulations. Opened to Rothes on 23rd August, 1858, and throughout on 23rd December, 1858. By 23 and 24 Vic., cap. 116 (3rd July, 1860), the company was authorised to construct a direct line from Elgin to Rothes, and so avoid use of the Inverness and Aberdeen, to obtain access to its Craigellachie extension. Length, 9 miles. Additional capital, 40,000l. in 107. shares; loans, 13,300l. Opened 1st January, 1862. |