taking, to subscribe for and hold shares in the capital of the company hereby established, upon such terms and with such powers as the said directors shall deem expedient; and it shall be lawful for the said directors, out of the funds of the company, to subscribe to or hold shares in the capital of any other undertaking; and the said directors shall have full power to consent to the insertion in any act or acts of parfiament, whether applied for on behalf of the company hereby established or in any other act or acts, of any clauses, powers and provisions for giving effect to, facilitating or confirming any such agreements or arrangements.

That the said directors shall have full power to engage, retain and appoint, and also suspend or remove, and to reappoint and employ bankers, solicitors, engineers, surveyors, clerks, agents, servants and others, and to pay and allow all such salaries and recompenses as the said directors shall think right.

That the said directors shall have full power and authority to apply any part of the moneys which shall be paid by way of deposit as herein mentioned, in making such deposits or investments of paid-up capital as are or shall be required by the standing orders of either house of parliament, or in otherwise complying therewith; and also in or towards the payment as well of all salaries, recompenses and engagements as aforesaid, as of the expenses of soliciting an act or acts of parliament, or opposing any bill or bills, as aforesaid, and all other costs, charges and expenses incidental to the said undertaking or which such directors or any person or persons on their behalf, or whose acts have been or may be adopted or recognised by them, have been or may be put to with reference to the purposes of the undertaking in any respect, and whether such act or acts of parliament shall or shall not be obtained.

That the said directors shall cause true and correct accounts to be kept of all moneys which may be received by them, or for their use or on their account, on behalf of the said undertaking, and also of all monies expended on account thereof.

That the said directors shall be empowered to invest such deposits as may be received by them from the subscribers on account of the respective amounts subscribed by them, or any part thereof, in such manner and at such rate of interest, and generally upon such terms and conditions and at such times as they in their discretion shall think expedient.

That the said directors shall be accountable for all income and profits which may arise from such investment, but shall not be answerable for any loss consequent thereon.

That in any act or acts of parliament to be obtained as aforesaid, it shall be provided that no call shall be made upon the subscribers to the said undertaking or any of them, which shall exceed the sum of - pounds per share at any one time; and also, that no more than calls shall be made in any one year, and that there shall be an interval of months between every two calls; and also, that interest may be allowed, if the directors acting in the execution of the said act shall think fit, at the rate of four pounds per cent. upon the amount paid up by each subscriber in respect of his subscription, to be calculated from the time when the intended line of railway shall be opened to the public.

That, whether any act or acts of parliament shall or shall not be applied for or obtained for establishing the proposed undertaking, the said directors shall be indemnified against and in respect of all contracts and deeds whatsoever entered into, made and done by them in pursuance of the powers and provisions herein contained, and all losses, costs, charges and expenses which they may incur, sustain or be put unto in the execution of the trusts, powers and authorities committed to them by these presents; such costs, charges, losses and expenses to be respectively apportioned, assessed, paid and made good among and upon by the several subscribers and their respective heirs, executors and administrators, rateably according to the amount subscribed by them respectively; and the said directors are hereby also authorized and empowered to retain to and reimburse themselves respectively, out of the funds of the said undertaking, all damages, losses, costs, charges or expenses which they respectively shall or may incur, sustain or be put unto as such directors as aforesaid.

That the said directors may, if they think proper, from time to time call any general meeting or meetings of the subscribers to the said undertaking for any purposes connected therewith.

That every such general meeting shall be called by advertisement, to be inserted at least three times in not less than three of the principal newspapers published in twenty-one days previous to such meeting, and such advertisement shall specify the object, the time and place of meeting, and the subjects to be discussed thereat.

shares

That the vote of a majority of the subscribers present at such meeting, provided such meeting shall consist of not less than persons holding in the aggregate in the said company or undertaking, shall bind the minority and all absent shareholders.

In witness whereof the several parties hereto of the third part have hereunto set their hands and seals the day and year first above written, and the parties hereto of the first and second parts have set their hands and seals in the schedule hereto on the several dates set opposite to their respective signatures.

FORM OF APPLICATION TO OWNERS, &c.
[Referred to in Standing Order 17 of Commons and 220 of
Lords. (See ante, p. cclv.)]

No.

SIR,
WE beg to inform you, that application is intended
to be made to parliament in the ensuing session for “An
Act" [here insert the title of the act], and that the property
mentioned in the annexed schedule, or some part thereof,
in which we understand you are interested as therein stated.
will be required for the purposes of the said undertaking,
according to the line thereof as at present laid out, or may
be required to be taken under the usual powers of deviation
to the extent of
yards on either side of the said line
which will be applied for in the said act, and will be passed
through in the manner mentioned in such schedule.

We also beg to inform you, that a plan and section of the
said undertaking, with a book of reference thereto, has been
or will be deposited with the several clerks of the peace or
sheriff clerks of the counties of [specify the counties in which
the property is situate], on or before the 30th day of No-
vember, and that copies of so much of the said plan and
section as relates to the parish or royal burgh (a) in which

(a) These words "or royal burgh" are not in the notice given in the Standing Order of the Commons.

your property is situate, with a book of reference thereto,
has been or will be deposited for public inspection with the
clerk of the said parish, schoolmaster of the parish, town
clerk of the royal burgh, or the clerk of the union within
which such parish is included [as the case may be], on or
before the 31st day of December instant, on which plans
your property is designated by the numbers set forth in the
annexed schedule.

As we are required to report to parliament whether you
assent to or dissent from the proposed undertaking, or whe-
ther you are neuter in respect thereto, you will oblige us by
writing your answer of assent, dissent, or neutrality, in the
form left herewith, and returning the same to us with your
signature on or before
day of
next; and if there should be any error or misdescription in
the annexed schedule, we shall feel obliged by your inform-
ing us thereof, at your earliest convenience, that we may
correct the same without delay.

the

Το

We are, Sir,

Your most obedient Servants,

SCHEDULE referred to in the foregoing Notice, and which is intended to show the Property therein alluded to, and the Manner in which the Line of the deposited Section will affect the same.

APPENDIX V.

FUNCTIONS, &c. OF BOARD OF TRADE IN REGARD OF RAILWAY BILLS BEFORE PARLIAMENT.

THE nature of these functions, &c., may be best collected from the consideration of the following portion of the Minute of the Board of Trade of the 10th July, 1845, relative to the constitution of the Railway Department of that board, and the rules for conducting railway business.

I. My Lords are of opinion that the distinct board constituted by the minute of 6th August, 1844, should be discontinued; and that all railway business should hereafter be transacted by the Lords of the Committee of Privy Council for Trade, in the same manner as the ordinary business of this committee.

II. All such railway business, however, shall be transacted by proceedings distinct from the ordinary business of this committee. The despatch of railway business shall be conducted by separate written minutes; and the directions and decisions of the Lords of the Committee shall be carried into effect by the several officers of the railway department.

III. Reports will not hereafter be prepared for parlia ment, conveying the opinions of the Lords of this com mittee on the merits of any railway project, or on the comparative merits of competing schemes.

IV. But in order that my Lords, with a view to guarding the public interest, may have at all times an accurate knowledge of the objects of the various railway schemes, and of the extent of the powers which the promoters desire to obtain, my Lords direct that the proper steps should be taken for submitting to the two houses of parliament the necessity of adopting resolutions requiring the promoters of the various schemes to deposit as heretofore, at the Board of Trade, a copy of the plans, sections, &c. It would also be expedient that they should be required to deposit, concurrently with their plans and sections, a sketch of the proposed