support and hearty co-operation of the landowners and others locally interested, of the shareholders in the authorised line (Wick and Thurso), and of the Duke of Sutherland and the Highland, that this can be successfully accomplished. The directors, believing the moment to be favourable for a united effort, asked the shareholders to authorise them to apply to Parliament in the ensuing session for powers to construct a line south, from the authorised line in the neighbourhood of the Loch of Watten, by Achintoul, to the Sutherland at Helmsdale, or to some point near the county boundary, as may be arranged with the Duke of Sutherland; as also to renew and modify the powers conferred by the Act of 1866. If the directors should be disappointed in the support given to the bill, they will withdraw it so far as relates to the line south, and limit it to the authorised line (Wick and Thurso), the early construction of which the directors, under any circumstances, confidently anticipate. It was thereupon resolved that the directors be and are hereby authorised to apply to Parliament in the cause and on behalf of the Caithness, for an Act to construct a line trom the point at which the Sutherland terminates northwards to the authorised line in the neighbourhood of Loch Watten, as may be arranged with his Grace the Duke of Sutherland and the Sutherland; as also to remove and modify the powers conferred by the Caithness Act, 1866; and for this purpose to take such proceedings and make such arrangements with the Duke of Sutherland, the Sutherland and the Highland, and others, as the directors may deem best calculated to carry out the objects of the proposed Act.

No. of Directors-6; minimum, 3; quorum, 3 and 2. Qualification, 2001.

DIRECTORS:

Chairman-Right Hon. the EARL OF CAITHNESS, 34, Hill Street,
Berkeley Square, W.

Sir Robert Anstruther, Bart., M.P., 46, |

Onslow Square, S. W.

Samuel Laing, Esq, 6, Kensington Gardens Terrace, W.

James Horne, Esq.

Alexander Adams, Esq,
Thomas Brassey, Esq.

55.-CALEDONIAN.

Incorporated by 8 and 9 Vic., cap. 162, for a line from Carlisle to a junction with the Scottish Central, at Castlecary, with branches diverging therefrom, at Carstairs, to Edinburgh and Glasgow. Under powers of various Acts, this company, at a time of great excitement and much uncertainty as regards the real profits made out of railway undertakings, became involved in engagements which were subsequently found to be beyond its resources. After protracted negotiations with the conflicting interests involved in questions arising out of the leases (the position of the preference shares, as to priority, being a particularly difficult point), before the close of the session of 1851, and inquiries in Parliament as to return of capital, &c., giving the early history of the transactions, &c., an agreement was finally arrived at, and the result is the "Arrangements Act," 14 and 15 Vic., cap. 134 (1851), of which an ample synopsis was given in the MANUAL for 1854.

By 18 and 19 Vic., cap. 96 (June 26th, 1855), the company was authorised to raise additional capital to the extent of 375,0007., at a preferential dividend not exceeding 5 per cent. Borrowing powers, in addition to those already possessed, are conferred by same Act, to the extent of 124,900. Debenture stock to be issued in lieu of mortgage debt.

GRANTON.-By 20 and 21 Vic., cap. 123 (10th August, 1857), an arrangement is authorised with the promoters of this line. The capital created is 60,0007., one-half of which was provided by the Duke of Buccleuch. The loans extend to 20,0001. The length of the line is 34 miles, and of the branch to Granton western breakwater 9 furlongs 4 chains 30 links. Opened July, 1861. By 26 Vic., cap. 38, the Granton branches were merged into the Caledonian, and the Duke of Buccleuch bought out.

LEITH BRANCHES.-By 25 and 26 Vic., cap. 137 (7th July, 1862), the company were authorised to construct an extension from Granton branch to Leith, length 34 miles, and to raise new capital to the extent of 150,0007. in shares of 5 per cent., and 49,9507. on loan.

DALMARNOCK.-By 21 Vic., cap. 13 (21st May, 1858), the Caledonian was authorised to construct a branch of one mile to Dalmarnock. New capital: shares, 37,000%; loans, 13,000. Opened 24th June, 1861.

PORT CARLISLE.-By 21 and 22 Vic., cap. 66 (28th June, 1858), the Caledonian was authorised to construct a branch half a mile in length to join the Port Carlisle. New capital: shares, 10,000%; loans, 3,8007. Estimate, 10,000%. Opened.

WILSONTOWN.-By 22 and 23 Vic., cap. 3 (21st July, 1859), the company's powers to construct a branch to the mineral coalfields at Wilsontown were revived. The length of the branch is 2 miles, with a connecting branch of 1 furlong and 6 chains. Commences with a junction to the Caledonian at a point in the parish of Carnwath, about 804 miles from Carlisle, and terminates at Wilsontown, with a short connecting branch, commencing by a junction with the Caledonian at a point about 80 miles from Carlisle, and terminating by a junction with the first mentioned branch, about 14 furlong northwestward of the last-mentioned point of junction with the Caledonian. Estimate, 22,5001. Extra land, 10 acres; compulsory purchase, two years; completion of works, four years. New capital, not exceeding 22,500l., to be raised by 5 per cent. preference stock, and 7,5001. on mortgage may be raised.

SYMINGTON, BIGGAR, AND BROUGHTON.-Incorporated by 21 Vic., cap. 15 (21st May, 1858), to construct a railway from the Caledonian, near Symington, to Biggar and Broughton. Capital, 36,000. (of which 7,5001. is furnished by Caledonian), in 107. shares. Loans, 12,000. Length, 8 miles. Estimate, 34,8007. Opened 5th November, 1860. By 23 and 24 Vis., cap. 120 (3rd July, 1860), the company was authorised to construct an extension to Peebles; length, 114 miles. New capital, 75,0007. in shares; and 24,9007, by mortgage. Caledonian subscribed 15,0007., and authorised to contribute any amount up to 30,000. By 24 and 25 Vic., cap. 201 (1st August, 1861), the Symington was amalgamated with the Caledonian. New capital was also authorised

to the extent of 39,5001. in shares, and 24,9007. on loan.

LESMAHAGOW-By 23 Vic., cap. 97 (14th June, 1860), these branches were incorporated with the Caledonian, the capital thereof having hitherto been kept separate, but is not guaranteed in same manner as the other undertakings held by the Caledonian, although the proprietors therein retain a separate existence. The guarantee to the Lesmahagow shareholders extends to 5,8151. per annum. By the same Act the Caledonian was authorised to raise additional capital to the extent of 44,3007. in shares of 5 per cent., and 30,0007. on loans, to be applied solely to the purposes of the Lesmahagow. By 26 Vic., cap. 25, the Caledonian was authorised to effect certain improvements, deviations, &c., to enlarge stations, and to acquire new lands, &c. New capital, 120,000, at 5 per cent., and 40,000l. on mortgage.

LANARK-By 23 and 24 Vic., cap. 144 (23rd July, 1860), the Caledonian was authorised to construct certain branches to Lanark and to the Douglas coalfield. New capital, 100,0007. in shares of 5 per cent., and 33,300l. on loan.

CARLISLE CITADEL STATION.-By 24 and 25 Vic., cap. 166 (22nd July, 1861), the Caledonian and London and North Western obtained powers for the better regulation of this important station. Its management is placed under the direction of a joint committee, consisting of two representatives from each board, and the agreements respectively made with the Maryport, the Glasgow and South Western, and the North British, were confirmed. New works were also authorised, and further purchase of lands permitted. The Caledonian under this Act, and for its purposes was authorised to raise new capital to the extent of 25,000l. in shares of 5 per cent. preference, and 8,3007. on loan.

CLELAND AND MORNINGSIDE.-By 24 and 25 Vic., cap. 223 (1st August, 1861), the company was authorised to extend the Cleland Branch to Morningside, and to construct some other small branches. Length, 11 miles. Capital, 160,0007. in shares of 5 per cent., and 53,3007. on loan; completion of works, five years. Certain deviations were authorised by the Act of 7th of July, 1862. Opened 1st November, 1862.

RUTHERGLEN AND COATBRIDGE.-By 24 and 25 Vic., cap. 202 (1st August, 1861), the company construct this branch, with another to Whifflet. Length, 8 miles: capital, 180,0007. in shares at 5 per cent., and 60,000l. on loan. By 26 Vic., cap. 10, several deviations were authorised to be completed by 1st August, 1866. Opened November, 1865.

STONEHOUSE.-By 24 and 25 Vic., cap. 228 (1st August, 1861), the company was authorised to construct a branch from the Lesmahagow to Stonehouse; to extend the Southfield branch of the Lesmahagow; to enlarge the station at Symington, &c. Length, 44 miles. Capital, 800,0007, in shares at 5 per cent., and 26,0007. on loan; completion of works, four years.

CARSTAIRS AND DOLPHINTON.-By 26 Vic., cap. 24, the Caledonian was authorised to construct a branch from Carstairs to join the Leadburn Linton and Dolphinton. Length, 11 miles. New capital, 105,000%. in shares at 5 per cent., and 35,0007. on loan; completion of works, five years.

DUMBARTON AND HELENSBURGH.-On the opening of this line in May, 1858, a ten years' agreement was concluded with the Dumbartonshire companies to regulate the management of the traffic, and to save undue competition between Glasgow and those places on the Coast accessible by either route.

JOINT LINE.-By 27 and 28 Vic., cap. 132 (30th June, 1864), the Caledonian and the Glasgow and South Western were authorised to construct branches and alter works in connection with their joint line between Glasgow and Paisley. Length, 2 miles. Capital, 70,0007. in shares, and 22,000l. on loan, in equal proportions.

GLASGOW HARBOUR.-By 27 and 28 Vic., cap. 271 (25th July, 1864), an agreement was ratified with the Edinburgh and Glasgow, by which running powers over the Glasgow Harbour branches were obtained, with power to erect separate and joint stations. New capital, 150,0001. in shares, and 50,0007. on loan.

HAMILTON AND STRATHAVEN.-An agreement had been concluded for the acquisition of this railway; the liability of the Caledonian restricted to 36,5007., in addition to the share capital of 70,000. Ratified by 27 and 28 Vic., cap. 250 (25th July, 1864).

BREDISHOLM AND TANNOCHSIDE.-By 27 and 28 Vic., cap. 60 (23rd June, 1864), the Caledonian was autnorised to construct a branch to Tannochside. New capital, 25,000. in shares, and 8,3007. on loan. Length, 1 mile.

BARRHEAD.-By 28 and 29 Vic., cap. 135 (29th June, 1865), the company was authorised to construct a line from Barrhead to Paisley, and to improve the line between Barrhead and Crofthead. Length, 7 miles. New capital, 130,000/. in shares, and 43,3007. on loan.

SHIELHILL-By 28 and 29 Vic., cap. 136 (29th June, 1865), the company was authorised to construct a branch from Dalmakeddar to Shielhill, on the Dumfries Lochmaben and Lockerbie. Length, 7 miles. New capital, 116,0007. in shares, and 36,0007, on loan.

BALERNO. BY 28 and 29 Vic., cap. 161 (29th June, 1865), the company was authorised to construct a branch from Slateford to Balerno. Length, 7 miles. Capital, 150,000. in shares, and 50,0007. on loan.

BANGHOLM JUNCTION.-By 28 and 29 Vic., cap. 202 (29th June, 1865), the company was authorised to construct a junction to Bangholm, to connect with the Leith Branch of the North British. Length, mile. Capital, 15,300l. in shares, and 5,3037. on loan.

CROFTHEAD AND KILMARNOCK.-By 28 and 29 Vic., cap. 139 (29th June, 1865), the Caledonian was authorised to contribute 140,000l. to the Crofthead and Kilmarnock, and to work the line.

GENERAL TERMINUS AND GLASGOW HARBOUR.-By 28 and 29 Vic., cap. 167 (29th June, 1865), this undertaking was amalgamated with the Caledonian, which issued stock in new and old capital to the extent of 160,0007., guaranteed 4 per cent. till 31st January, 1867, and thereafter, 44 per cent. The liabilities of the General Terminus are restricted to 54,000l., in addition to 160,000., the amount of the ordinary stock.

ADDITIONAL POWERS.-By 28 and 29 Vic., cap. 288 (5th July, 1865), the Caledonian was authorised to construct several short branches, to improve stations, and purchase additional lands. Length, 7 miles. New capital, 235,0007. in shares, and 78,3001. by mortgage.

CLELAND AND MIDCALDER-By 28 and 29 Vic., cap. 289 (5th July, 1865), the Caledonian was authorised to construct a connecting link from Cleland to Midcalder, so as to shorten the route between Edinburgh and Glasgow, with branches to certain mineral fields. Length, 31 miles. Capital, 450,0007. in shares, and 150,000%. on loan. Opened 19th July, 1869.

MUIRKIRK.-By 28 and 29 Vic., cap. 290 (5th July, 1865), the company was authorised to extend the Douglas branch to Muirkirk. Length, 7 miles. Capital, 160,0007. in shares, and 53,0007. on loan.

DUMFRIES, LOCHMABEN, AND LOCKERBIE.-Incorporated by 23 Vic., cap. 88 (14th June, 1860), to construct a line from the Glasgow and South Western at Dumfries to a junction with the Caledonian at Lockerbie. Length, 144 miles. Capital, 85,000, in 101. shares; loans, 28,3001. By 24 and 25 Vic., cap. 163 (22nd July, 1861), the company was authorised to make a deviation in the line, and to raise new capital to the amount of 5,000. in shares. Opened 1st September, 1863. Dividends at the rate of 4 per cent. were declared in February and in August By 28 and 29 Vic., cap. 297 (5th July, 1865), the line was amalgamated with the Caledonian at 6 per cent. in perpetuity. Running powers to London and North Western between Carlisle, Lockerbie, and Dumfries.

GREENOCK AND GOUROCK EXTENSIONS.-By 29 and 30 Vic., cap. 246 (23rd July, 1866), the Caledonian was authorised to construct lines to the Albert Harbour, at Greenock, and to Gourock, &c. Length, 4 miles. Capital, 410,0007. in shares, and 136,6007. on loan.

EDINBURGH STATION.-BY 29 and 30 Vic., cap. 325 (6th August, 1866), the company was authorised to alter the terminus in Edinburgh, to improve the station, and to erect an hotel in connection therewith. New capital, 250,000l. in shares, and 83,3007. on loan.

LANARKSHIRE AND MIDLOTHIAN BRANCHES.-By 29 and 30 Vic., cap. 342 (6th August, 1866), the company obtained power to construct ten branches in the counties of Lanark and Midlothian. Length, 21 miles. New capital, 370,0007. in shares, and 123,300. on loan. By 30 Vic., cap. 60 (31st May, 1867), the company was authorised to construct certain additional branches in connection with these lines as well as to acquire additional station ground at Carlisle. Length, 10 miles. New capital, 140,0001, in shares, and 46,6007. on loan.

FORTH AND CLYDE NAVIGATION.-By 30 and 31 Vic., cap. 106 (20th June, 1867), the Forth and Clyde Navigation became vested in the Caledonian. Capital, 1,141,333. Annuity, 71,3331. For arrangement with North British, see APPENDIX to Volume XX.

FORFARSHIRE.-By 30 and 31 Vic., cap. 176 (12th August, 1867), the company was authorised to erect a sea-wall of more than a mile in length at Dundee, and also to construct new lines (74 miles) in substitution of a portion of the Dundee and Forfar, and of the Newtyle and Meigle branch. New capital, 260,0007. in shares, and 86,600/. on loan.

ABANDONMENT, &c.-By 31 and 32 Vic., cap. 105 (13th July, 1868), the Caledonian was authorised to abandon ()st) the connecting branch between the Scottish Central and the Crieff Junction; (2nd) the line from the Glasgow and Barrhead to the Glasgow and Paisley; (3rd) the branch from the main line at Applegarth to the Dumfries Lochmaben and Lockerbie; and (4th) the branch at Leith to the North British at the same place. The power to raise money for these works was also repealed. Completion of works on the Muirkirk branch was extended for two years and six months. The company was also authorised to raise new capital for the general purposes of the undertaking to the extent of 600,000l. in shares, and 200,0007. on loan.

By 32 and 33 Vic., cap. 126 (26th July, 1869), the Caledonian was authorised to abandon about 29 miles of unconstructed branches, and to apply the relative restricted capital (486,6007.), under certain specified reservations, towards the general purposes of the undertaking; to hold and dispose of the property acquired in Blythswood Holm, Glasgow; to amalgamate the Crieff and Methven with the Caledonian system; to subscribe towards the capital of the Busby; and to confirm the working agreement with the Solway.

SCOTTISH CENTRAL-Incorporated by 8 and 9 Vic., cap. 161 (31st July, 1845), for a line from Falkirk (junction with the Edinburgh and Glasgow) and a junction with the Caledonian (Castlecary branch) to the general station at Perth, in conjunction with the Scottish Midland and Dundee Perth and Aberdeen Junction. This company has also acquired by purchase the Tay Ferries. By 19 and 20 Vic., cap. 139 (July, 1856), the company was authorised to construct a line to Denny, and by 20 and 21 Vic., cap. 81 (27th July, 1857), certain extensions of about three miles were sanctioned. By 22 and 23 Vic., cap. 83 (8th August, 1859), the Acts of the company were consolidated, the general station at Perth regulated, and other powers granted. By 26 and 27 Vic., cap. 149 (13th July, 1863), the company was authorised to construct a line to Plean Mineral Fields. Length, 2 miles. New capital, 20,0007. for branch, and 30,0001. for general purposes. Loans, 16,6501. By 26 and 27 Vic., cap. 223 (28th July, 1863), the Dundee Perth and Aberdeen and Dundee and Newtyle were vested in the Scottish Central, subject to an obligation to discharge all debtsto satisfy the claims of preference shareholders-and to pay to the ordinary shareholders a dividend on their shares for the year ending 31st July, 1864, at the rate of 2 per cent.-for the year ending 31st July, 1865, at the rate of 2 per cent.-and thereafter at the rate of 3 per cent. per annum, with right after 1866 to share the surplus profits on the transferred lines. By 27 and 28 Vic., cap. 292 (29th July, 1864), the company obtained powers to extend the stations at Perth and Dundee, and to execute other works in the counties of Perth, Forfar, and Stirling. Capital, 90,000l. in shares, and 30,0007. on loan. By 28 and 29 Vic., cap. 287 (5th July, 1865), the Scottish Central was amalgamated with the Caledonian, a full detail of the enactments respecting which being given in the APPENDIX to the volume for 1866. DUNDEE AND PERTH AND ABERDEEN JUNCTION.-This company's line commences at Perth (in conjunction with the Scottish Central, Scottish North Eastern, and Edinburgh Perth and Dundee), proceeding thence along the banks of the Tay to Dundee, where the Newtyle diverges at a right angle to a point of junction with the

Scottish North Eastern at Newtyle. The connection formerly subsisting with the Dundee and Arbroath was dissolved from 9th March, 1850, and an Act repealing the Act of Amalgamation, was obtained in 1850 (14 Vic., cap. 39), subject to the payment by this company of 25,6392. The various Acts of the company were consolidated by 18 Vic., cap. 56 (15th June, 1865). The leading provisions of this enactment authorise raising further moneys for the payment of debts by creation of first-class preference shares. By 22 and 23 Vic., cap, 18 (21st July, 1859), the company was authorised to improve the Dundee and Newtyle, and to raise 70,000l. at 5 per cent. preference for that purpose. Length of new portion of railway, 7 miles 6 furlongs 24 yards. Opened 10th June, 1859. At a meeting on 17th October, 1859, it was resolved that 70,0001. of stock be created in 7,000 shares at 107. each, with all the priorities and privileges conferred by the Dundee and Newtyle Act of 1859. By 25 Vic., cap. 35 (3rd June, 1862), the company was authorised to raise additional capital to the extent of 60,000l. at 5 per cent. in shares, and 20,000. on loan, for the Dundee and Perth; and 19,000l. at 5 per cent. in shares, and 4,9007. on loan, for the Dundee and Newtyle. By 26 and 27 Vic., cap. 223 (26th July, 1863), the whole undertaking of Dundee and Perth was vested in the Scottish Central. By 27 and 28 Vic., cap. 214 (25th July, 1864), power was given to improve and extend the Dundee and Newtyle 4 miles, and to raise new capital to the extent of 30,0007. in shares, and 10,000. on loan. Through booking arrangements with the Scottish North Eastern. CRIEFF JUNCTION.-Incorporated 15th August, 1853, for a line from the Scottish Central, near Loaninghead, to Crieff. Length, 9 miles. Opened 16th March, 1856. An agreement was made in 1853, with the Scottish Central, to work the line at cost price; to supply the necessary plant; and to allow this company, for ten years from opening, a third of the free revenue of the additional traffic brought on the Central by the Crieff Junction. By 28 and 29 Vic., cap. 134 (29th June, 1865), the Crieff Junction was amalgamated with the Scottish Central as from 1st August, 1864. Capital, 45,000l. at par.

CRIEFF AND METHVEN JUNCTION.-Incorporated by 27 and 28 Vic., cap. 189 (14th July, 1864), to form a junction between the Perth Almond Valley and Methven and the Crieff Junction. Length, 11 miles. Capital, 50,0007. in 107. shares, and 16,600%. on loan.

CALLANDER AND OBAN.-The Scottish Central are also authorised to contribute 200,000l. towards the capital of the Oban, and to work and maintain the line in perpetuity, at the rate of 50 per cent. of gross receipts. They were also empowered by the Crieff and Comrie Act, to subscribe 60,000l. towards the capital of the extension to Comrie, and to work the line. These provisions now apply to the Caledonian. A new agreement was entered upon, on 30th September, 1869, for which, see "Callander and Oban."

DUNBLANE, Doune, and CALLANDER.-Incorporated by 19 and 20 Vic., cap. 113 (21st July, 1856), to construct a line from the Scottish Central, at Dunblane, to the town of Callander. Capital, 60,000/. in 107. shares; loans, 20,000l.; calls, 27. per share, with intervals of two months. Length, 11 miles. Opened 1st July, 1858. By 24 and 25 Vic., cap. 96 (28th June, 1861), the company was authorised to cancel unissued share capital (15,0001.) so as to reduce ordinary shares to 45,0001., and to create preference shares to the extent of 25,0007. at 5 per cent.; also to convert debentures into stock. By 28 and 29 Vic., cap. 133 (29th June, 1865), the company was amalgamated with the Scottish Central, and thence transferred to the Caledonian. Substituted stock to ordinary shareholders to be equal to three-fourths of amount paid, and to rank thereafter with Scottish Central stock as guaranteed by the Caledonian. The Dunblane Doune and Callander ordinary stock is exchanged for 23,0701. of Central stock, being three-fourths of the ordinary share capital issued by the Dunblane.

SCOTTISH NORTH EASTERN.-This line, amalgamated with the Caledonian by 29 and 30 Vic., cap. 350 (10th August, 1865), is an amalgamation by 19 and 20 Vic., cap. 134 (29th July, 1866) of the Aberdeen and Scottish Midland Junction.

ABERDEEN.-Incorporated by 8 and 9 Vic., cap. 153 (31st July, 1845), for a line from Guthrie (Arbroath and Forfar) to Aberdeen, with branches from the trunk line to Brechin and Montrose. Length, 72 miles, including the leased line, Arbroath and Forfar.

SCOTTISH MIDLAND JUNCTION.-Incorporated by 8 and 9 Vic., cap. 170 (31st July, 1845), for a line commencing in conjunction with the Scottish Central, at Perth, and terminating by a junction with the Arbroath and Forfar, with some small branches. The main line (324 miles) was opened throughout, 11th September, 1848, for goods and passengers, and a branch to connect this with the Newtyle, has since been made. Branches authorised, 1853:-Coupar Angus to Blairgowrie; Drungley to Kirriemuir;