BLYTH AND TYNE-BODMIN-BODMIN AND WADEBRIDGE. 19 24 miles. New capital, 350,000l. in shares, and 27,5001. on loan. Also to purchase certain lands, way-leaves, and other rents, &c. AGREEMENTS.-Traffic arrangements have been made with the Wansbeck Valley, the North British, the Port Carlisle, and Silloth Bay. REVENUE.-It was reported in February that the net revenue applicable to dividend was in excess of that for the corresponding period of the previous year, and the directors were in a position to recommend payment of a dividend at the rate of 10 per cent. per annum. It was reported in August that the gross receipts for the half-year ending the 30th June were 61,2217., against 58,1301. The dividend on the ordinary stock and shares was at the rate of 10 per cent. per annum, being 1 per cent. more than that of the corresponding period of 1869. CAPITAL-The receipts and expenditure on this account to 30th June, 1870, were detailed as follow: Received. Erpended. Balance 92,556 traffic 61,441 Working stock... £708,910 £581,441 127,469 £708,910 Directors, Meetings, &c.-Company subject to C. C. C. Act. DIRECTORS: Chairman-JOSEPH LAYCOCK, Esq., Gosforth, Newcastle. Collingwood Foster Jackson, Esq., Jes- | John Peter Mulcaster, Esq., Benwell, mond House, Newcastle. I. F. Ayton, Esq., Hindley, Stocksfield. Newcastle. Richard M. Weeks, Esq., Ryton. OFFICERS.-Res. Eng. and Gen. Man., Joseph Cabry; Sec., George Armstrong, Newcastle: Con. Eng., John F. Tone, Newcastle; Loco. Supt., William Kendall; Accountant, John Anderson; Auditors, D. D. Main and Thomas Hedley, Newcastle; Solicitor, R. P. Phillipson, Newcastle. Offices-Newcastle-on-Tyne. 31.-BODMIN. Incorporated by 27 and 28 Vic., cap. 170 (14th July, 1864), to construct a line from the Cornwall to Bodmin. Capital, 36,0007. in 20. shares, and 12,000l. on loan. Length, 3 miles; completion of works, three years; broad gauge. Arrangements with Cornwall. By 28 Vic., cap 53 (2nd June, 1865), the company was authorised to extend its line to the Bodmin and Wadebridge (length, i mile; broad gauge), and to raise further capital to the extent of 25,0007. in shares, and 8,3007. on mortgage. By 30 and 31 Vic, cap. 119 (15th July, 1867), the company obtained power to make certain deviations; to divide the shares into preferred and deferred. It was reported in February, that despite every endeavour, a contractor had not been found to make the branch. The directors still hoped that by adopting the system of constructing branch lines on economical principles, the Bodmin might be carried out at a much lower estimate than was originally contemplated. No. of Directors-6; minimum, 3; quorum, 3 and 2. Qualification, 1007. DIRECTORS: Chairman-THOMAS FREDERICK HILL ALMS, Esq. Hon. Edward Frederick Leveson Gower, John Hichens, Esq. George Pentyre Parkyn, Esq. 32.-BODMIN AND WADEBRIDGE. Incorporated by 2 and 3 Wm. IV., cap. 47, for the purposes of mineral traffic. Capital, 27.5001, in shares, and 8,0107. on loan. Reconstructed by 28 and 29 Vic., cap. 270 (5th July, 1865). New capital, 75,000%. in shares, and 25,0007. on loan. Length, 15 miles. 20 BRADFORD, ECCLESHILL, AND IDLE-BREAN DOWN HARBOUR, ETC. DIRECTORS: Chairman-Capt. CHARLES E. MANGLES, Poyle Park, Farnham, Surrey. Deputy-Chairman-CHARLES CASTLEMAN, Esq., Glasshayes, Lyndhurst, Sussex. Hon. R. H. Dutton, Timsbury Manor, | Lieut.-Col. Luard, Farnham, Surrey. The Count Eyre, 7, Hind Street, Man- Mr. Sergeant Gaselee, 2, Cambridge Edward J. Hutchins, Esq., 10, Portland Capt. Johnston, Union Club, Trafalgar C. S. Mortimer, Esq., Wigmore House, William P. Snell, Esq., Belmont, near OFFICERS.-Sec., Frederick Clarke, Waterloo Bridge Station, S.; Supt., H. Kyd, Wadebridge. 33.-BRADFORD, ECCLESHILL, AND IDLE. Incorporated by 29 and 30 Vic., cap. 114 (28th June, 1866), to construct a line from Bradford, through Eccleshill, to Idle. Length, 3 miles. Capital, 65,0007. in 107. shares, and 21,6007. on loan. The Great Northern subscribes 50,000, and arranges for working the traffic. No. of Directors-5; quorum, 3. Qualification, 1,0001. DIRECTORS: Chairman-Colonel GEORGE HUSSEY PACKE, Caythorpe Hall, Colonel the Hon. Octavius Duncombe, Robert Tennant, Esq., Scarcroft Lodge, Samuel Waterhouse, Esq., M.P., Hope 34.-BREAN DOWN HARBOUR. The Harbour Company was incorporated in 1862, under 25 and 26 Vic., cap, 29, 75,000. in shares, and 25,0007. on loan; and by 28 Vic., cap. 122 (19th June, 1865), it was further empowered to construct a railway to connect the harbour with the Bristol and Exeter, at Bleadon. Length, 3 miles. New capital, 51,000% in shares, and 17,000l. by mortgage. Mixed gauge. Arrangements with Bristol and Exeter, to which the construction of the railway is now transferred, with power to work the railway traffic. By 31 and 32 Vic., cap. 65 (25th June, 1863), an extension of time for completion of the railway works till 1871 was obtained, and for further extension or suspension contingent upon progress in the harbour works. By Act of 29 and 30 Vic., cap. 228 (the Brean Down Dock Act, 1866), the Harbour Company was authorised also to construct Docks on the river Axe, and a road and bridge and other works in connection therewith. 35.-BRECON AND LLANDOVERY JUNCTION. Incorporated by 26 and 27 Vic., cap. 201 (28th July, 1863), to construct a line from the Vale of Towy, and the Central Wales at Llandovery, to the North Brecon at Devynock. Length, 12 miles. Capital, 120,000Z. in 10. shares; loans, 40,000/ Works in progress. By 28 and 29 Vic., cap. 284 (5th July, 1865), certain deviations were authorised, as well as division of shares into deferred and preferred. By 29 and 30 Vic., cap. 306 (30th July, 1866), the company was authorised to make use of certain portions of the Brecon and Merthyr Tydfil Junction, reciprocal facilities being granted to the latter company. No. of Directors-7 minimum, 3; quorum, 3. Qualification, 2007. DIRECTORS: Chairman-EDWARD PARKER, Esq., Barnsley. William Laurence Banks, Esq., F.S.A., | Chas. Kemp Dyer, Esq., Lloyd's, London. Samuel Hawksley Burbury, Esq., 1, New Vale, near Bideford, Square, Lincoln's Inn Fields, W.C. BRECON AND MERTHYR TYDFIL JUNCTION. 21 OFFICERS.-Sec., John Wade, 75, Ethelburga House, Bishopsgate Street, E.C.; Engs, R. and B. Piercy, 12, Duke Street, Westminster, S.W.; Solicitors, Tilleard, Son, Godden, and Holme, 34, Old Jewry, E.C., and Rixon and Son, 38, Cannon Street, London; Auditor, J. T. Morgan, St. John's Park, Holloway, N.; Bankers, The Consolidated Bank (Limited), Threadneedle Street, E.C. 36.-BRECON AND MERTHYR TYDFIL JUNCTION. Incorporated by 22 and 23 Vic., cap. 68 (1st August, 1859), for constructing railways in the district between Brecon and Merthyr Tydfil. Share capital, 80,0007. in 10. shares; loans, 26,000. By 23 Vic., cap. 17 (15th May, 1860), the company was authorised to extend their line from Tal-y-Bont to Brecon. By the Mid-Wales, with whom traffic arrangements may be made, a route was thus opened to Liverpool, Birkenhead, and Manchester, by way of Oswestry, Newtown, Llanidloes, and the Valley of the Wye, to Swansea, Cardiff, and Merthyr Tydfil. New capital, 50,0007. in shares, to which the Taff Vale may subscribe 30,0007. Loans, 16,0007. By 24 Vic., cap. 10 (17th May, 1861), the company was empowered to raise additional capital to the extent of 63,0001. in preference shares, at 5 per cent., and 21,000%. on loan. By 24 and 25 Vic., cap. 235 (6th August, 1861), the company was authorised to construct an extension from the main line, at Pant-coed-ifor, to Aberbargoed station, on the main line of the Rhymney. Length, 8 miles. New capital, 130,000l. in 107. shares, and 43,3007. on loan. By 25 and 26 Vic., cap. 184 (28th July, 1862), the company was authorised to construct new lines and deviations. Length, 10 miles. Capital, 177,0007. in shares, and 58,000. on loan. Mutual facilities with Merthyr Tredegar and Abergavenny. By 26 and 27 Vic., cap. 196 (21st July, 1863), the company was authorised to make a deviation in one of the lines of 1862, and to improve the access to the Brecon station. New capital, 50,0007. in shares, at 5 per cent., and 16,500. on loan. By 26 and 27 Vic., cap. 202 (28th July, 1863), the company was authorised to construct an extension to the Rumney. Length, 8 miles. Capital, 60,000l. in shares, and 20,0007. on loan. The Brecon also obtained power to acquire the Rumney, as well as special privileges over the Rhymney. By 27 and 28 Vic., cap. 265 (25th July, 1864), the company was authorised to construct certain deviations, and to form a junction (1 mile) with the Rhymney, as well as to exercise the powers of the Vale of Neath in regard to the Merthyr Curve. New capital, 11,0007. in shares, and 3,6607. on loan. By 27 and 28 Vic., cap. 304 (29th July, 1864), the company was authorised to construct new lines to the Rhymney, also to connect with and adopt the Rumney, which was shortly afterwards effected as part of the separate undertaking. Length of Rumney, 26 miles. New capital, 200,000l. in shares, and 66,6007. on loan. By 28 and 29 Vic., cap. 285 (5th July, 1865), the company was authorised to construct branches to Dowlais and Ivor. Length, 7 miles. The company also obtained an extension of time for fifteen months for construction of the Cyfarthfa branch. The Act also authorised amalgamation of the general and separate undertakings, which was shortly afterwards carried into effect, and the raising of new capital to the extent of 255,0001. in shares, and 85,000l. on loan, for rolling stock and other purposes. By 30 and 31 Vic., cap. 177 (12th August, 1867), the Brecon and Merthyr was authorised to make a deviation in the Rumney West Fork, and to construct a new line called the Rumney New Junction, but only in event of the London and North Western not proceeding, in the course of two years, to construct its Dowlais Extension. By the same Act running powers were conceded to the Rhymney, over the abovementioned lines, if constructed. The Brecon and Merthyr was also authorised, under certificate of the Board of Trade, to borrow 190,0001, in proportions of 16,6007. on each 50,0001. clear capital paid up on the sum of 570,500%., and also 24,000l. on the residue of 70,5001. being paid up. By 30 and 31 Vic., cap. 142 (13th July, 1868), the company obtained a suspension of legal proceedings against it for ten years, and also several other privileges, including conversion of mortgage and other debts into debenture stock. Completion of lines, regulation of capital, constitution of new board, &c. The preference shareholders acquired the right of voting, while the mortgage holders are to meet by themselves. By the same Act the agreement to amalgamate with the Hereford Hay and Brecon was declared to be void, and that company to resume the whole of its privileges and independent course of action, including traffic arrangements with the Brecon and Merthyr. RUMNEY.-Re-incorporated by 24 and 25 Vic., cap. 277 (1st August, 1861), to alter line and level of tram-road, and to make a new railway from Machen Upper to the Caerphilly branch of the Rhymney. Length, 4 miles. Capital, 100,0007. în 1007. shares, and 33,000l. on loan. FINANCIAL ARRANGEMENT.-It was reported in February that a scheme of arrangement, having for its object the creation of 60.0007. additional A debenture stock, and an arrangement among and between the debenture-holders by which reduced rates of interest would be accepted for a period not exceeding five years, with a provision for the issue of deferred interest warrants in respect of any unpaid balance, had been confirmed by the requisite number of shareholders and debenture-holders, and enrolled in the Court of Chancery. It was further reported that the hope expressed by the directors, that they would have no difficulty in placing the 45,000l. of the new A debenture stock at par has been fully realised, the whole amount having been at once subscribed and paid up. Looking to the fact that the actual net income in the past year exceeded 22,5001, and is now rapidly increasing, and also to the almost absolute freedom of the company from every liability, the directors will feel it to be their duty when the time comes for making available the small balance of stock held against the renewal accounts, to require a premium for it. A like 5 per cent. security in the larger companies (not intrinsically superior to the A stock of this company), commands a higher premium REVENUE (on 604 miles).-The receipts for the half-year ending 31st December, 1869, amounted to 30,568., and for the corresponding period of 1868 to 24,9627, showing an increase of 5,6061. The expenditure amounted to 19,800, or 643 per cent., against 18.5671, or 741 per cent. The net result was an available surplus of 10,763, against 6,3357. in 1868. The receipts for the half-year ending 30th June, 1870, amounted to 31,6657., being an increase of 4,127. over those of the corresponding period of 1869. The return per mile per week upon the 673 miles worked was 187. The expenditure amounted to 20,3877., against 19,7777. in 1869. The net result was an available income of 11,2771. Interest and dividends had been paid for the half-year as under:-5 per cent. on the rent-charges and Rumney preference shares, 5 per cent. on the A debenture stock, 4 per cent. on the B 1, 4 per cent. on the B 2, 3 per cent. on the B 3, 3 per cent. on the B 4, 24 per cent. on the B 5, 2 per cent. on the B 6, 13 per cent. on the B 7, and 1 per cent. on the C debenture stocks and deferred interest warrants, in accordance with the provisions of the scheme of arrangement, were issued in respect of the balance of the full 5 per cent. The surplus remaining after those payments was sufficient to provide for payment of the deferred interest warrants in respect of the stocks B 1, B 2, and B 3. CAPITAL. This account showed that 1,709,6187. had been expended, leaving a balance of 69,6361. The directors had placed the 45,0001. of new A debenture stock at par, and the whole amount had been paid up. The details of income and expenditure to 30th June, were as follow: The estimate of further expenditure extends to 12,2067., the assets to meet which are set down at 115,7997. Meetings last week in February and August. No. of Directors-8; quorum, 3. Qualification, 1,0007. DIRECTORS: 1 Chairman-A. H. PHILLPOTTS, Esq., Carshalton, Surrey. 1 James A. Mann, Esq., Brecon. 1 William de Winton, Esq., Banker, Brecon. 2 Thomas A. Bushby, Esq., 38, Brown's Buildings, Liverpool. 1 David Davies, Esq., Broneiron, Llandinam, Montgomeryshire. 2 S. Robinson, Esq., The Moor, Kington, Herefordshire. 2 T. Salt, Junr., Esq., M.P., Walton-on-theHill, Stafford. 3 F. Francis, Esq., Ramsdon Hall, Billericay, Essex. 1, Share Directors; 2, Debenture Directors; 3, C Debenture Director. BRIDGNORTH, WOLVERHAMPTON, ETC.-BRIDPORT, ETC. 23 OFFICERS.-Sec., Walter Thompson, Brecon; Resident Eng., T. D. Roberts, Brecon; Traffic Man., Alfred Henshaw, Brecon; Loco. Supt., Thomas Mason, Machen; Audit Clerk, John Gall; Auditor, J. Waddell, 7, Poultry, London; Solicitor, J. R. Cobb, Brecon; Bankers, Wilkins and Co., Brecon, Merthyr, and Cardiff, and London and County Bank, Lombard Street, E.C. Offices Brecon. 37.-BRIDGNORTH, WOLVERHAMPTON, AND STAFFORDSHIRE, Incorporated by 29 and 30 Vic., cap. 129 (28th June, 1866), to construct a line from Bridgnorth to Wolverhampton, and other places in Staffordshire. Length, 21 miles. Capital, 270,0007. in 107. shares, and 90,000l. on loan. Arrangements with Great Western. No. of Directors-7; minimum, 5; quorum, 3. Qualification, 5007. DIRECTORS: Chairman-The Rt. Hon. LORD ACTON, Aldenham, Bridgnorth. Frederick Charles Perry, Esq., Dunston, William Wyley, Esq., Lothill Park, near near Penkridge, Staffordshire. Bridgnorth. Hall W. Keary, Esq., Oldbury, near Bridgnorth. OFFICERS.-Sec., W. Roberts; Eng., Joseph Fogerty, 1, Westminster Chambers, Victoria Street, Westminster, S. W.; Solicitors, Crawley, Arnold, and Green, 20, Whitehall Place, S.W.; R. O. Backhouse, Bridgnorth, and Underhill, Corser, and Fowler, Wolverhampton. Registered Offices-7, Bank Buildings, Lothbury, E.C. 38.-BRIDPORT. Incorporated by 18 Vic., cap. 11 (May 5th, 1855), for constructing a railway from Bridport to Maiden Newton, on the Wilts Somerset and Weymouth. Broad gauge. Length, 94 miles. Opened November 12th, 1857. Worked by Great Western at 52} per cent. of gross receipts. By 22 and 23 Vic., cap. 120 (13th August, 1859), the company is authorised to lease the line to the Great Western, and to raise additional capital to complete the undertaking. New capital, 20,000l. Preference interest not to exceed 6 per cent. Cancelled shares may also be issued at same preference. The dividend declared on the ordinary stock in February was equal to 1s. 6d. per share, and a balance, after payment of the preferences in August, of 2821., was carried to next account. The meetings are held in February or March, and in August or September; all ordinary meetings to be held in Bridport; quorum of shareholders, 15, representing at least 6,0002. No. of Directors-6; quorum, 3. Qualification, 50 shares. DIRECTORS: Chairman-THOMAS LEGG, Esq., Arlington, Bridport. Thos. Alex. Mitchell, Esq,M.P., 50, Charles | Kirkman Daniel Hodgson, Esq., 36, Street, Berkeley Square, W. William Smith, Esq., Bridport. Brook Street, W. John Pike Stephens, Esq., Bothenhamp ton. William Swatridge, Esq., Maiden Newton. 39.-BRISTOL AND EXETER. Incorporated by 6 Wm. IV., cap. 36 (19th May, 1836), for making a broad gauge line from Bristol to Exeter, with branches; the main line starting from Bristol, where it joins the Great Western line from London, and terminating at Exeter, where it is joined by the South Devon, which runs to Plymouth; the Cornwall and West Cornwall continuing the broad gauge to Falmouth and Penzance. In operation, 151 miles. |