420 NERBUDDA COAL AND IRON-NORTH METROPOLITAN TRAMWAYS 523.-NERBUDDA COAL AND IRON. Registered under limited liability, with a capital of 250,000%. in shares of 20s. each; paid up, 78. per share. This company is formed, with the sanction of the Secretary of State for India, for the purpose of working certain mines of coal and iron at Mopani and Tendukera, in the Nerbudda Valley, and near the line of the Great Indian Peninsula. The company received from the Government a concession of the mines upon favourable terms, a nominal rental of 101. or 100 rupees per annum being paid for the first five years, to be increased to 1,000 rupees per annum after that period, and to merge in the royalties payable after the fifth year, and afterwards a moderate royalty of 4 annas or 6d. per ton on coal sold, and 1 rupee or 2s. per ton on all iron manufactured. It was reported in June that the long delay which has taken place in the completion of the Great Indian Peninsula had had a very injurious effect upon the company, by causing a large increase in the capital expenditure, viz., about 80,0001. in the place of 30,000. The sale of coal and lime during the past twelve months realised 8311., nearly as much as had been received during all the previous years of the company's existence. It is an encouraging feature in the prospects of the company that, in addition to the expected demand from the adjoining railways, the directors have received applicstions for coal from remote districts, which they expect to supply when the branch line from Ghurwara to their pits has been completed. DIRECTORS: Chairman-SAMUEL JOHN WILDE, Esq., Hadley Green, Barnet. Deputy-Chairman-Lieut.-Col. P. T. FRENCH, 8, Duke Street, St. James's, S.W. F. Egerton Cutler, Esq. (Messrs. Cutler, | William Martineau, Esq., 39, Prince's Palmer, and Co.,)44, Jermyn Street, 8. W. Square, Bayswater, W. S. Lloyd Foster, Esq., Old Park Hall, Two directors retire every year, but are eligible and always re-elected. OFFICERS.-Sec., Herbert Heath; Manager, Charles C. Adley. C.E.; Auditors, J. Waddell and Co., Public Accountants, New Poultry Chambers, E.C.; Bankers in London, The Imperial Bank, Lothbury, E.C.; in India, The Chartered Mercantile Bank of India, London, and China; Solicitors, Wilkins, Blyth, and Marsland, 10, St. Swithin's Lane, E.C. Offices-35A, Moorgate Street, E.C. 524.-NORTH METROPOLITAN TRAMWAYS, Incorporated by 32 and 33 Vic., cap. 101 (12th July, 1869), to construct street tramways in Whitechapel, Stratford, Bow, and other places in the east of the metropolis north of the Thames. Length in single lines, 14 miles. Capital, 90,000 in 107 shares, deferred and preferred, and 22,5007. on loan, with power to create and issue debenture stock. By 33 and 34 Vic., cap. 172 (10th August, 1870), the company was authorised to construct additional tramways in Islington and its neighbourhood. Length in single lines, 14 miles. New capital, 240,000l. in 10. shares, deferred and preferred, and 60,000%. on loan, with power to create and issue debenture stock. It was announced in November, under certificate from Messrs. Quilter, Ball, and Co., that the receipts on the opened portion of the line, from Bow to Whitechapel, for five months, had been 7,215., so that an expenditure of 3,7207. left a net balance of 8,4951., being more than equal to twelve per cent. The eastern extensions, when completed, will necessarily increase the traffic on the road already opened. The northern route, when constructed in accordance with the Act of 1870, will traverse nearly seven miles of streets, and bring Highgate, Highbury, Camden Town, and other districts inhabited by multitudes having daily business in the city, into direct communication with the Bank of England itself. Messrs. Fisher and Parrish, who constructed the lines in Liverpool and Whitechapel, have undertaken to construct the new lines, as coloured pink on the map, and to completely equip them with carriages, horses, harness, stabling, offices, &c., for 225,000 It was reported in January, 1871, that the total receipts were 4,918, with 3,0641. expenditure. Out of the net profits of 1,8547., a dividend at the rate of 6 per cent. per annum on the whole of the called-up capital was declared. This is very satisfactory, seeing that the first portion of the line from Brixton to Kennington was only opened on 2nd May, the extension to Hercules Buildings on the 5th October, the Clapham Road only on 7th December, and the extension to Westminster Bridge not until December 22nd. If the dividend be calculated on the capital expended on the PANAMA AND SOUTH PACIFIC TELEGRAPH-RAILWAY CARRIAGE. 421 several portions of the line from the time when each was opened for traffic, instead of from the time when the calls were made, the returns will show a net profit of at least 10 per cent. The chairman congratulated the shareholders on the disappearance of the public prejudice against tramways in London, and the growing desire of the travelling public to avail themselves of this improved mode of street and road conveyance. He added that that company would in process of time cease to exist, and would form part of the London Tramways. No. of Directors-6; minimum, 3; quorum, 3 and 2. Qualification, 2001. DIRECTORS: Chairman-GEORGE FIRTH, Esq., Bradford. Deputy-Chairman-W. H. REYNOLDS, Esq., 58, Threadneedle Street, E, C. B. H. Collins, Esq., 58, Old Broad Street, | J. J. Corrigan, Esq., 13, Montague Place, E.C. Russell Square, W.C. M. M. Moore, Esq. (Messrs. W. B. Huggins and Co.), Glasgow. OFFICERS-Sec. (pro. tem.), Frederick Mosley Watts; Engineer, George Hopkins, 30, Parliament Street, Westminster, S.W.; Brokers, Sutton. Miller, and Co., 22, Royal Exchange, E.C.; Solicitors, C. and H. Tahourdin, 1, Victoria Street, Westminster, S.W.; Auditor, James Fraser, 7, Bank Buildings, Lothbury, E.C.; Bankers, the Union Bank of London, 2, Prince's Street, City, E.C. Offices (temporary)-1, Basinghall Street, E.C. 525.-PANAMA AND SOUTH PACIFIC TELEGRAPH. Incorporated under "The Companies' Acts, 1862 and 1867." Capital, 320,0007. in 32,000 shares of 101. each. Deposit on application 1. per share, and on allotment 17. 10s. per share, and the remainder at intervals of two months, by instalments of 21. 10s. each. Part of the capital, to the extent of 60,000l., is reserved by the concession from the Peruvian Government for subscription in Pera. Formed for the purpose of extending telegraphic communication to the Western Coast of South America. By the system of the West India and Panama Telegraph Company now approaching completion, the whole of the continents of Europe and North America will be placed in connection with Central America, whence this company will carry its lines to Tumbez, one of the principal ports in the North of Peru, touching at such intermediate stations in Ecuador and New Granada as may be found desirable. DIRECTORS: Neil Bannatyne, Esq.. London (late of Frederick Pezet, Esq., of Lima, and Park Don Carlos Paz Soldan, Managing Director Alexander Ruden, Esq., of Messrs. Alsop and Co., Lima. Alexander F. Low, Esq., late of Mexico, 84, Westbourne Terrace, W. With power to add to their number. OFFICERS.-Sec., William Walsh: Eng., Sir Charles Bright; Solicitors, Mackenzie, Trinder, and Co.. 1, Crown Court, Old Broad Street, E.C.: Bankers, London and County Bank, Lombard Street, E.C., and Branches; National Bank of Scotland, 37, Nicholas Lane, E.C., and Branches; Manchester and Liverpool District Bank, Manchester and Liverpool, and Branches, Bankers in Peru, London Bank of Mexico and South America. Offices-50, Old Broad Street, E.C. 526.-RAILWAY CARRIAGE. Capital, 150,0007. in 15,000 shares at 104 each, and preference share capital, 75,000%. in 15,000 shares of 51. each. Issued 13,557 shares. Established for the purpose of constructing, repairing, selling, hiring, and letting of plant, wagons, carriages, and rolling stock for railways, tramways, and ordinary roads. For the making, selling, and letting of girders, roofs, machinery, and all kinds of ironwork, and for the working of railways and tramways. Dividend, at the rate of six per cent. on the preference shares, and of 15 per cent. on the ordinary. 422 STAFFORDSHIRE ROLLING STOCK-STAFFORDSHIRE WHEEL, ETC. DIRECTORS: Chairman-ALEXANDER CLUNES SHERRIFF, Esq., M.P., Perdiswell Hall, William Edward Hilliard, Esq., Cowley Arthur Higginson, Esq., Ashby-de-la- John Kershaw, Esq., 24, Duke Street, Richard William Johnson, Esq., Bricklehampton Hall, Pershore. OFFICERS.-Sec., Herbert Wheeler; Man., William Stableford; Solicitors, Dale and Stretton, 3. Gray's Inn Square, W.C. Offices-Oldbury, near Birmingham; and 7, Great Winchester Street Buildings, E.C. 527.-STAFFORDSHIRE ROLLING STOCK. Capital, 50,000. in 5,000 shares of 10l. each. Established for the purpose of constracting, purchasing, maintaining, and leasing carriages and wagons to railway companies, collieries, and commercial firms in the United Kingdom and elsewhere; and for the purchase of an established local company of the same description, Laving a paid-up capital of nearly 10,000. DIRECTORS: Chairman-GEORGE FAGG, Esq., Highbury, N. D. Fraser Luckie, Esq., Ashley Place, | William Watkin, Esq., Amblecote Hall, J. Evan Tibbs, Esq., Threadneedle Street, Samuel Brooks, Esq., Hagley Road, Stour- OFFICERS.-Sec., William Ketley: Auditor, Charles Tackness, Lime Street Square, 528.-STAFFORDSHIRE WHEEL AND AXLE. Established under Limited Liability Acts. Capital, 200,000%. in 20,000 shares of 102. each, established for the manufacture of wrought and cast-iron railway carriage, wagon, and contractors' wheels and axles, and other iron-work used in the construction of railway rolling stock; also of hammered uses, forgings, and smith-work of every description, either for marine, locomotive, stationary, or other engineering purposes. DIRECTORS: Charles Lloyd Browning, Esq., Weoley | Peter Harris, Esq., Brierley Hill. Park, Birmingham. William Holliday, Esq., Birmingham. Ralph Heaton, Esq., Harborne, near Birmingham. OFFICERS.-Sec., R. Henry Ryland; Auditor, F. J. Roberts, Accountant, Birmingham; Solicitors, Sanders and Smith, Dudley and Birmingham. Offices and Works-Spring Hill, Birmingham. 529.-TELEGRAPH CONSTRUCTION AND MAINTENANCE. Established under limited liability with a capital of 1,000,000. in shares of 201 each. The dividends have been at the rate of 10 per cent. per annum, except one year, when it was at the rate of 5 per cent. CAPITAL-At a special meeting held on 30th November, 1869, it was resolved to redace the capital, and to return 47. per share to the shareholders, and that as soon as practicable a further return of 41. per share should be made, leaving 127. per share paid up, or a total of 448,2007., which is fully covered by buildings, plant, stock, and stores. DIRECTORS: Chairman-Sir DANIEL GOOCH, Bart., M, P., C.E., Clewer Park, Windsor. Managing Director-Captain SHERARD OSBORN, C.B., R.N., 119, Gloucester Terrace, Hyde Park, W. George W. Campbell, Esq., 41, Thread-| Thomas Fairbairn, Esq., Brambridge, near needle Street, E.C. Winchester. Ralph Elliot, Esq., 23, Great George Street, Philip Rawson, Esq., Woodhurst, Crawley. Westminster, S. W. Sussex. Lord Alfred Paget, 56, Queen Anne Street, Secretary, William Shuter, Esq. Offices-38, Old Broad Street, E.C. TELEGRAPH TO INDIA-TRAM-RAILWAY OF GREAT BRITAIN, ETC. 423 530.-TELEGRAPH TO INDIA. The enterprise is leased to the Telegraph Construction and Maintenance (Limited). Dividends at the rate of 3 per cent. per annum were declared. The report presented on 5th February, 1869, gave the details of a provisional agreement entered into for leasing the land line in Egypt to the proposed British-Indian Submarine. According to arrangements entered into on the 5th, and approved on the 22nd February, this property has been transferred to the British Indian Submarine Telegraph Company in consideration of 37,5001. in fully paid-up shares of 101. each. The Telegraph to India Company passed into liquidation, and the final meeting was held on 5th October, 1870. DIRECTORS: Chairman-Sir R. MACDONALD STEPHENSON, 72, Lancaster Gate, Hyde Park, W. Philip Patten Blyth, Esq. (late of Mau- | William Dent, Esq. (late of the Hon. East ritius), 53. Wimpole Street, Cavendish Square, W. The Hon. James Byng, Shipbourne Lodge, India Company's Civil Service, Bengal). Admiral Sir W. H. Hall, K.C.B. (Director of the Peninsular and Oriental Company). John Farley Leith, Esq. (late of Calcutta), 79, Gloucester Terrace, Hyde Park, W. OFFICERS.-Sec., William Mayo; Auditor, J. A. Franklin; Engs., Sir Charles T. Bright and Latimer Clark; Solicitors, Messrs. Freshfields; Bankers, The London and County Bank, 21, Lombard Street, E.C. Offices-62, Moorgate Street, E.C. 531.-TRAM-RAILWAY OF GREAT BRITAIN. Capital, 500,0007. in shares of 10. each. First issue, 10,000 shares (with power to increase). This company propose, by properly constructed tramways or roadrails, to bring into direct communication with the existing railway systems outlying towns and districts, and for the purpose of constructing such tram-railways this company has been formed. The cost per mile of a tram-railway on the company's systems will average about 2,000. By Mr. Page's invention steep gradients may be surmounted, thus obviating what has hitherto been one of the principal difficulties in the formation of cheap railways. Mr. Hawarth's system is remarkably well adapted for horse-power in street traffic. The company will construct its own lines, work them, and draw annual profits therefrom, or sell or lease them when made either to railway or other companies or firms, the rent thus derived forming a revenue without risk or trouble. They will also grant licenses for the construction and use of lines under their several patents, and this also will be a large source of safe income. DIRECTORS: Major S. Yorke Martin, Thornville, Ryde, Francis Logan, Esq., Cliffeside, Bourne- John T. Sprague, Esq., Old Park and Secretary, J. W. Marshall. Offices-9B, New Broad Street, City, E.C. 532.-WEST INDIA AND PANAMA TELEGRAPH. Incorporated under "The Companies' Acts, 1862 and 1867." Capital, 650,000 in 65,000 shares of 10. each. Formed for the purpose of extending telegraphic communication throughout the West India Colonies, and at the same time, of torming the central link of the telegraphic communications of Brazil, Peru, Chili, Buenos Ayres, and the other States of South America, with London, New York, and the whole of the continents of Europe and North America. DIRECTORS: Chairman-Rear Admiral Sir JOHN C. DALRYMPLE HAY, Bart., M.P. Neil Bannatyne, Esq. (late of Messrs. Quintin Hogg, Esq. (Messrs. Bosanquet, Alexander Macgregor, Esq., Director of Wm. Langton, Esq., Liverpool. OFFICERS.-Sec., Wm. Walsh; Eng., Sir Charles Bright; Solicitors, Mackenzie Trinder, and Co., 1, Crown Court, Óld Broad Street, E.C. Offices 50, Old Broad Street, E.C. ADDENDA. BEDFORD AND NORTHAMPTON. NEW CAPITAL.-In December, 1870, the sum of 200,0007, in preferred shares was offered to the public at 927 108. per cent, yielding interest of 51. 8s. per cent. per annum, the payments being as follow: £10 on each certificate subscribed, payable on application. 17th Dec., 1870. 17th Feb., 1871. 17th March, 1870. 17th April, 1871. Also in January, 1871, the sum of 150,000l. was issued in deferred shares, being the balance of 20,000 of which 5,000 had been appropriated to and taken up by applicants for the preferred shares. Price of issue, 827. 10s. per certificate of 1007., equal to 81, 58. per share, with interest at 5 per cent. per annum (yielding to the investor Gl. 38. per cent. on the price of subscription, after deducting allowances) during construction, and for five years after the opening of the railway, pending the declaration within that period by the Midland, of the option to amalgamate with or lease the line, at 5 per cent. The due and punctual payment of the interest is absolutely secured for the whole of the above-mentioned period by the investment in consols, now standing in the names of trustees, of the amount necessary to pay the same. The price, 821. 10s. for each certificate of 10 shares (equal to 1007. stock), payment being accepted as follows:£10 on each certificate subscribed, payable on application. By special agreements, incorporated in the Acts of Parliament, the Midland is to maintain, manage, stock, and work the Bedford and Northampton, and to pay over 50 per cent, of the divisible receipts, such receipts being taken in the accounts between the two companies at the minimum of 307, per mile per week, which, on the twenty miles of the railway, gives minimum guaranteed receipts to the Bedford and Northampton of 15,6007, per annum. The Midland take over the line on its completion, when the guarantee comes into effect; the contractors are under engagement to finish the line by the 31st of August, 1871, and they will pay interest on the shares until the line is so taken over, at the rate of 5 per cent. per annum on the full 100%, per certificate. CAMBRIAN. SCHEME OF ARRANGEMENT.-At a special meeting, held at Crewe on 30th November, 1870, the following scheme of arrangement in respect to the Inland Section was unanimously adopted : 1. All mortgages to be converted into 5 per cent. debenture stock, with same priorities as to interest, which is to commence from 1st July, 1870. 2. Debenture stock to be given for arrears of interest on debentures up to 30th June, 1870, of the same denomination as the capital in respect of which the stock was given, to carry interest from the first July next. |