242.-NORTH STAFFORDSHIRE. Incorporated by three separate Acts in 1846, but now acting under Consolidation Act of 1847 (10 and 11 Vic., can 108). In operation, 179 miles of railway and 110 of canal. By 22 and 23 Vic.. cap. 126 (13th August, 1859), the company was authorised to make an extension from Earl Granville's branch in Stoke-upon-Trent to Miles Bank. Compulsory purchase of land, 18 months; completion of works, two years. By same Act an extension of time for completion of works authorised in 1854, conceded for one year. Power also given to contract with London and North Western for use of North Staffordshire for division and apportionment of traffic thereon. Contract to be public, and to be under usual restrictions. Debenture stock to be created in lieu of mortgage debt at 5 per cent. By 23 Vic., cap. 114, the company was permitted to relinquish a portion of the works authorised by Act of 1851; to convert the capital into 177. 108. shares, or into s'ock; to enter into agreements with the silverdale and Newcastle, and Newcastle-under-Lyme canal, with respect to working and traffic of the two latter undertakings; and to take tolls on the Canal Extension, constructed by the Newcastle-under-Lyme canal without authority from Parliament. By 26 and 27 Vic., cap. 158 (13th July, 1863), the company was authorised to construct a line (6 miles), to lessen the distance between Leek and the Potteries, and a short branch to secure a convenient access for goods to the important town of Burton-uponTrent, and also to legalise the conversion of the ordinary shares into stock, at the nominal value of 201. per share. New capital, 100,000l. in shares, at not exceeding 5 per cent., and 33,3001. on loan. Opened 1st July, 1868, for goods, and on 1st November for passengers. POTTERIES, BIDDULPH, AND CONGLETON.-Incorporated by 17 and 18 Vic., cap. 194 (24th July, 1854). The line is in six sections. The first commences on the main line, at Stoke-upon-Trent, and terminates at Congleton (opened August 3rd, 1859); the second diverges from the new branch near the junction with the main line, and terminates in a field in the parish of Stoke; the third leaves the branch at Ashbury, and proceeds until it again meets the main line; the fourth also leaves the branch at Ashbury, and joins the main line at Congleton station; the fifth likewise diverges from the first branch, running between the parishes of Bucknall and Caverswell; the next leaves the first at Burslem, and terminates in the same parish at Stoneybank. NEWCASTLE-UNDER-LYME CANAL.-This canal, and the canal extensions belonging thereto, were vested in the North Staffordshire by 27 and 28 Vic., cap. 118 (23rd June, 1864, on payment by the latter of a rent of 5201. per annum, and liquidation of mortgage debt. TUNSTALL. By 27 and 28 Vic., cap. 232 (25th July, 1864), the North Staffordshire was authorised to construct a line from the Potteries at Tunstall. Length, 24 miles. Capital, 65,0001, in shares, and 22,2001, on loan. By 27 and 28 Vic., cap. 308 (29th July. 1864), the company was authorised to construct several small branches. Length, 15 miles. Capital, 250,000l. in shares, and 83.3007. on loan. By 27 and 28 Vic, cap. 309 (29th July, 1864), the company was authorised to construct lines from the Silverdale and Newcastle to Madeley, and thence to the Nantwich and Market Drayton and the London and North Western. Length, 123 miles. Capital, 175,000l. in shares, and 58,000l. on loan. Opened 1st November, 1859. By 28 and 29 Vic., cap. 339 (5th July, 1965), the company was authorised to construct a loop line in the Potteries district. Iength, 74 miles. Capital, 200,0001, in shares, and 100,0007. on loan. By 30 and 31 Vic., cap. 142 (15th July, 1867), the company acquired various powers, including widening of certain sections of its system, and an extension of time for completion of works till 15th July, 1872. Running powers in exchange for mutual facilities were conceded to the London and North Western. REVENUE. The receipts for the half-year ending 31st December showed that 252,5171. had been received, and 114,319. expended, leaving a balance of 138 187. The receipts for passengers, &c, amounte i for the half-year to 63,6791., agair st 58,7351. in 1868, 58,8591. in 1867, and 58,965 in 1866. Or the canal the tolls amounted to 37,108, against 35,4221. in 1868, 39,9151. in 1867, and 40,5037. in 1866. The increased receipts (after charging 3,000 from suspense account to reconstruction of engines) permitted a dividend at the rate of 3 per cent. per annum, against 2 per cent. in 1868. The receipts during the half-year ending 30th June, for goods and cattle amounted to 130.0001., against 118,9721., for the same period of 1869. The receipts for passengers, parcels. &c.. amounted to 53,000., against 51,3197. in 1869. The tolls on the canal amounted to 37,801., against 37,4921. The revenue account for the half-year showed a receipt from all sources of 248,371, as against 236 1987. in the corresponding period of 1869; but, owing to a larger necessary expenditure in renewal of engines and permanent way, and on interest account, the result left a balance available for dividend on ordinary stock of 41,9081., as compared with 41,5227. in 1869-namely, at the rate of 21 per cent. per annum, carrying forward a balance of 1,5311. after charging revenue with all interest on capital, whether productive or unproductive, and 3,000l. from suspense account for reconstruction of engines. NEW WORKS-The Bill for the abandonment of the Potteries loop line and the Burslem and Tunstall branches having been rejected by Parliament, the company were compelled to complete those lines by July, 1872 The contract for making the loop line and the Burslem branch had been let, and the works would be proceeded with as fast as possible. NEW CAPITAL.-At a special meeting, held on 4th May. 1870, it was resolved:"That under the provisions of the North Staffordshire (Tunstall Line) Act, 1861, the sum of 66,000, and under the provisions of the North Staffordshire (Potteries Loop Line) Act, 1865, the sum of 300,000l., making together the sum of 366,000, be raised by the creation of a further amount of new preference stock of the same nature as, and to rank pari passu with, the new preference stock created under the resolutions of the company, passed respectively at the special general meetings held on the 15th February, 1865, and the 9th August, 1867. That the preferential dividend and the other terms and conditions to and upon which the new preference stock now created is entitled, are as follow:-That the amount of such preference stock shall be payable in two equal instalments, one thereof on or before the 1st day of July, 1870, and the other thereof on or before the 2nd day of January, 1871. "That any such new preference stock upon which the second instalment shall not be duly paid shall be liable to forfeiture in the discretion of the directors. "Tha the holders of such new preference stock shall not be entitled to be registered as proprietors thereof, or to any dividend thereon, until the two instalments respectively shall have been duly paid, and the receipts for the same shall have been deposited with the secretary for registration; but the dividends, when payable, shall commence on the respective instalments from the said 1st day of July, 1870, and the 2nd day of January, 1871. "That the proprietors of such new preference stock shall be entitled out of the profits of each year to dividends in perpetuity, at 5 per cent. per annum, payable half yearly, pari passu with the dividends of the new preference stock already created, next after the dividend on the preference shares which existed prior to the 15th February, 1865, and on the same days as and with and in priority of the dividends on the ordinary stock. "That the holders or proprietors of such new stock shall not be entitled to attend or vote in respect thereof at any general meeting of the company. "That the new preference stock now created, be offered pro rata at par to the persons registered as holders of ordinary stock on the 20th May, 1870, and that such offer. and the acceptance thereof, be made and signified in such form and manner as the directors may prescribe. "That any such new preference stock, not accepted under the preceding offer, may be sold or disposed of at such times, to such persons, on such terms, and in such manner as the directors may consider advantageous to the company." CAPITAL.-This account was constituted on 30th June, 1870, as under: Ordinary stock purchase Description. 1st preference, 58,500 shares 201., at 5 per cent. canal 2nd preference stock at 5 per cent Total. ................. ... " 161,507 shares converted at 201. each into 3,230,1407. ordinary stock, on which dividend is paid. The balance of 23,6461., against the company at 3)th une was explained as follows: Received. Shares and stock Loans.... Debenture stock Balance.... The accounts are made up to 30th June and 31st December, and the statutory meetings held in February and August in each year. Scale of Voting.-C. C. C. Act, sec. 75. Certificates must accompany transfer deed. Registration fee charged since 1st January, 1861. No. of Directors.-Reduced to 12 by meeting of 11th August, 1868, of whom 3 must be elected from amongst the canal preference shareholders. Qualification, 2,000l. ordinary stock (the ordinary shares having been converted into stock); the directors representing the canal proprietors, 100 preference shares. DIRECTORS: Chairman-Lieut.-Colonel CHARLES PEARSON, Davenham, near Northwich. *Sir Smith Child, Bart., M.P., Stallington | William Worthington, Esq., Brockhurst Hall, near Stone. William Brownfield, Esq., Barlaston Hall, John Bramley-Moore, Esq., Gerrard's Lord Alfred Paget, 56, Queen Anne Street, Francis Stanier Broade, Esq., Betley Hall, Arthur Mills, Esq., 34, Hyde Park Gardens, Hall, Northwich. *Viscount Sandon, M.P., Sandon Hall, Staffordshire, and 39, Grosvenor Square, W. Colin Minton Campbell, Esq., Woodseat, Thomas Salt, Esq., M.P., Banker, Stafford. * Represent the canal preference shareholders. Go out in rotation annually, in July. Eligible for re-election. OFFICERS.-Gen. Man.. Percy Morris; Sec., Jonathan Samuda; Goods Man. and Canal Supt., Edward Pamphilon; Coaching Supt., Charles Lockhart; Eng., John Curpey Forsyth; Loco. and Res. Eng. and Eng. for Canal Dept., T. W. Dodds, C.E.; Accountant, Robert Steele; Auditors, William Hopes and George Smith; Solicitor, William Burchell, 5, Broad Sanctuary, Westminster, S.W.; Bankers, Glyn, Mills, Currie, and Co., London, and Lloyd's Banking Company (Limited), Longton. Head Offices-Stoke-upon-Trent, Staffordshire Potterics. 243.-NORTH UNION. An amalgamation of the Wigan and Preston and Wigan branch, under the name of the North Union, by virtue of 4 Wm. IV., cap. 25, with which was afterwards incorporated the Bolton and Preston, by 7 and 8 Vic., cap. 2, established for lines from Parkside junction with the L. and N. W. to Preston; and from Preston to Bolton. Productive mileage, 39 miles 60 chains. The undertaking is vested for ever. jointly in the L. and N. W. and the L. and Y.. under powers of Act 9 and 10 Vic., cap. 231 (27th July, 1846), for a fixed annuity of 66,0637. 188. from 1st January, 1846, payable in net moneys, free of deductions, except income-tax, half-yearly, 15th February and 15th August, whereof 60-94ths are to be paid by the L. and N. W. and 34-94ths by L. and Y. This annuity is divided, 47,7321. 138. 4 d. amongst holders of A stock, and 18,3311. 14s. 8d. to B stock, equal to 10 per cent, and 7 per cent. respectively. The books are generally closed about a fortnight previous to the date when the dividend warrants are payable, viz., 15th February and 15th August. Certificates must accompany transfer deed. Registration fee, 2s. 6d. each seller, and for each new certificate or coupon. Both classes may go on one deed. DIRECTORS: Chairman-1 WILLIAM BIRLEY, Esq., Preston. 2 Samuel Henry Thompson, Esq., Thing-5 Sir Hardman Earle, Bart., Liverpool. wall Hall, Knotty Ash, near Liverpool. 6 John Stevenson, Esq., Iron Founder, 3 James Glover, Esq., Southport. Preston. 4 Dr. Reynolds, Coed-du, near Mold. Numbered according to seniority-all at present re-eligible. OFFICERS.-Sec., Thomas H. Carr; Eng.-in-Chief, same as London and North Western and Lancashire and Yorkshire Companies; Eng., Charles Axon. Joint Lessees' Office-Preston. 244.-NORTH WESTERN. Originally incorporated by 10 Vic., cap. 92 (30th June, 1846, for a railway from the Leeds and Bradford, at Skipton, to the Lancaster and Carlisle at Low Park, Kendal, with a diverging line to Lancaster. Various acts of Parliament have reduced the undertaking to a line from Skipton to Ingleton and Poulton, a connection with Lancaster and Carlisle. Length, 47 miles. By 27 and 28 Vic., cap. 71 (23rd June, 1864), the company was authorised to divide its 201. shares into one of 127. and another of 81., the former bearing a perpetual fixed dividend of five per cent., and the latter taking the residue of the rent with any contingent advantage that may arise out of the lease to the Midland. This alteration was duly effected on 11th July, 1864. MIDLAND-A new arrangement with this company was agreed to in August, of which the subjoined are the main particulars:The terms agreed upon in respect of the "A" and "B" stock, as originally united, are NORTHAMPTON AND BANBURY JUNCTION.-NORTHERN AND EASTERN 247 As the "A" stock already takes a first and preferential dividend over the "B" stock of 5 per cent., its position remains unaltered; and the latter stock, taking all contingent benefit from or in lieu of the fourth rent, will receive the whole of the remaining dividend, and will be entitled to the progressive increase as follows:For the year 1871 ....£1 17 6 per cent, For the year 1874 1872 210 0 1875 .£3 15 0 per cent. 5 0 0 And thenceforward in perpetuity. The absolute conveyance of the North Western to the Midland took place on 1st January, 1870. 245.-NORTHAMPTON AND BANBURY JUNCTION. Incorporated by 26 and 27 Vic., cap. 220 (28th July, 1863), to construct a line from Blisworth to Farthinghoe. Capital, 140,000l. in 107. shares; loans, 46,6007. Debentures converted into B debenture stock by Act of 1870. By 28 and 29 Vic., cap. 361, Northampton and Banbury (Branch) Act, 1865, the company were empowered to make a branch line to connect their railway with the Northampton and Peterborough line of the London and North Western, and to raise additional capital to the extent of 193,300., viz.:-By shares, 145,000l.; on loan, 48,300. Debentures converted into B debenture stock by Act of 1870. Power to enter into traffic arrangements with Great Western. An agreement is scheduled to this Act by which the company obtains running powers over the Buckinghamshire line of the London and North Western, from Cockley Brake to Banbury, with use of the London and North Western and Great Western Stations. By 28 and 29 Vic., cap. 362 Northampton and Banbury Railway (Extensions) Act, 1865, the company were empowered to extend their railway to Chipping Norton and Blockley, and to raise additional capital to the extent of 666,600., viz. :-By shares, 500,000l.; on loan 116,600, but by the Act of 1870 these borrowing powers were cancelled By 29 and 30 Vic.. cap. 310, Northampton and Banbury Junction Act, 1866, the company were empowered to extend their railway from Blockley to Ross, and to raise additional capital to the extent of 733,000l., viz:-By shares, 550,000Z.; on loan, 183,000l., but by the Act of 1870 these borrowing powers were cancelled. By this Act the company obtain running powers over the Midland. between Bickford and Tewkesbury, over the Ross and Monmouth, and over the Worcester Dean Forest and Monmouth, between Newport and Monmouth. The name of the company was changed from the Northampton and Banbury Junction to the Midland Counties and South Wales. Total length of line authorised, 96 miles. The portion of the railway from Blisworth to Towcester, 4 miles, was opened for traffic in April, 1866. By 33 and 34 Vic., cap. 122 (14th July, 1870), the company resumed its original name of Northampton and Banbury Junction Railway Company, and was authorised to make the line from Bradden to Banbury in substitution of the railway, the powers for which were granted in 1863, but had lapsed, and for purchasing the necessary land. It also revived the powers of the Branch Act, 1865, and contained provisions for raising 120,000l. of A debenture stock for finishing the line to Banbury, and paying for land, and 180,000. of B debenture stock, to be issued in exchange for the existing debentures, and in payment of the general creditors. The works on the line between Towcester and Banbury are being rapidly proceeded with. Meetings in February and August. No. of Directors (as settled by Act of 1870) 6, viz.:-2 elected by A debenture stockholders: 2 by B debenture stockholders; and 2 by shareholders; quorum, 3. Qualification, 5001, of the respective stocks. DIRECTORS: Chairman-The Right Hon. LORD ERNEST BRUCE, M.P., 6, St. George's Place, S.W. Robert Amadeus Heath, Esq., 31, Old Lachlan Mackintosh Rate, Esq., King's Offices-6, Victoria Street, Westminster, S.W., and Towcester Station, Northamptonshire. 246.-NORTHERN AND EASTERN. Incorporated by 6 and 7 Wm. IV., cap. 103 (July, 1863), for the construction of a fine commencing from a junction with the Great Eastern at Stratford, 4 miles from London, and terminating at Newport, with a branch to Hertford. Total, 44 miles. The line is leased to the Great Eastern for 900 years under parliamentary powers obtained in 1844, at 5, and a portion at 6 per cent., with half profits when Great Eastern reaches the former amount. Dividends on shares, 501. guaranteed 5 per cent. per annum, 11, 5s, each; on shares of 501. guaranteed 6 per cent. per annum, l. 108. each. CAPITAL.-The expenditure on this account to 30th June, 1870, amounted to 963,4221., the receipts having been as follow: Shares.... Balance £959.880 3,429 £963,309 120 £963,429 The accounts are made up to 30th June and 31st December, and the half-yearly meetings (for the declaration of the dividend) are held in London on or before the 21st February and 21st August in every year; the transfer books close one week previously. Scale of Voting.-Oue vote for each share up to 20; then one for every 5. Certificates of shares need not accompany transfer deeds. Registration fee, 28. 6d. each deed. No. of Directors.-Maximum, 12; minimum, 12. Qualification, 1,000%. Chairman JOHN REMINGTON MILLS. Esq., Kingswood Lodge. Tunbridge Wells. Robert John Bagshaw, Esq., Dovercourt, William Dent, Esq., 37, Great Tower Street. Matthew Flower, Esq., 14, Norfolk Cres- Right Hon. T. Milner Gibson, 5, Hyde Liverpool. George Palmer, Esq., Nazing Park, Waltham Cross. Henry Lewis Smale, Esq., Doctor's Commons, E.C. John Vigne, Esq., Tokenhouse Yard, E.C. One-sixth of the directors retire annually, and are eligible for re-election. August meeting fills up vacancies. OFFICERS.-Sec., William Bourne; Solicitors, Markby and Jarry, 57, Coleman Street, E.C. Offices Bishopsgate Station (Great Eastern), E.C. 247.-NORTHUMBERLAND CENTRAL. Incorporated by 26 and 27 Vic., cap. 335 (28th July, 1863), to construct a line from Scots Gap by a Junction with the North British to Cornhill, on the Kelso and Berwick branch of the North Eastern. Length, 49 miles Capital, 270,000l. in 10. shares and 99,000. on loan. Arrangements with North Eastern and North British. By 30 Vic., cap. 9 ('2th April, 1867), the company was authorised to abandon the northern part of the line to the extent of 37 miles, the capital being reduced from 270,000 to 75,000l. in shares, and from 90,000l. to 25,000l on loan. It was reported in August that the section to Rothbury was so near comp'etion that, excepting some requirements of the Board of Trade, relating t signals and other matters, the section was ready for inspection. The requisite consent of the debenture holders had been given to a resolution for an increase of the capital to 10,000l., of which it is proposed to raise at once 6,500l. to complete the line. The directors were in negotiation with the North British and Blyth and Tyne for working the line from Rothbury to Scot's Gap. Opened from Scot's Gap to Rothbury. CAPITAL -The expenditure to 30th June, 1870, amounted to 83,408, the receipts having been as follow: Shares and stock. Loans Subscribed to guarantee fund Interest on calls and on bank accounts.. Rent of contractors' huts... £62,998 19,206 801 305 107= £83,408 No. of Directors-9; minimum, 6; quorum, 3. Qualification, 5007. DIRECTORS: Chairman-Sir WALTER CALVERLEY TREVELYAN, Bart., Wallington, Sir Horace St. Paul, Bart., Ewart Park, George Annett Grey, Esq., of Milfield, William Forster, Jun., Esq.. Burradon, John Ord, Esq., of Nisbet, Kel, Rox- Henry Thomas Morton, Esq., Biddick, Thomas Gow, Esq., of Cambo, Northum- John Marshall, Esq., of Chatton Park, John Dodd Wealleans, Esq., of Flotterton, OFFICERS-Sec., Benjamin Woodman, Solicitor, Mo. peth; Eng, George Barclay Bruce. 2, Westminster Chambers, S. W.; Anditors, Wm. Wightman, Wooler, Northum terland, and Thos. Arkle. Highlaws, Northumberland; Barkers, Messrs Hodgkin, Barnet, Pease, and Spence, Rothbury, and Alnwick and County Bank, Morpeth, Northumberland. Offices-Morpeth, Northumberland. |