LIMERICK AND FOYNES-LISKEARD AND CARADON. DIRECTORS: Chairman-WILLIAM MALCOMSON, Esq., Portlaw, County Waterford. Richard Russell, Esq., Limerick. Abraham Stephens, Esq., Duncannon, James Martin, Esq., M.D., Portlaw. Richard Stacpoole, Esq., Edenvale, Ennis. Joseph Robinson, Esq., Limerick. 149 Major Henry William Massy, Rosanna, Augustine Butler, Esq., D.L., Ballyline, Four directors go out by rotation every year, but are eligible for re-election. OFFICERS.-Sec., Thomas Naan; Traffic Man., Thomas Ainsworth; Res. Eug., John Long; Auditors, William Phayer, Limerick, and Robert Stephenson, Portlaw; Solicitors, Barrington, Son, and Jeffers, 10, Ely Place, Dublin; Bankers, Bank of Ireland. Offices-Limerick. 173.-LIMERICK AND FOYNES. Incorporated by 17 Vic., cap. 168 (4th August, 1853), for a line from Limerick to Foynes, Island Quay, Limerick, and the Lower Shannon. Length, 26 miles. Opened October, 1859. By 18 and 19 Vic., cap. 78 (26th June, 1855), the company was permitted to borrow one-third of its share capital, when one-half thereof should have been paid up, but whether or not the whole of such capital had been subscribed. By 21 and 22 Vic., cap. 93 (12th July, 1858), the company was afforded new powers to raise the funds requisite to complete the undertaking. Unissued shares may be converted into preference, at 5 per cent., to the extent of 31,9751. Cancelled shares also to be issued as preference, if within the above amount. By 24 and 25 Vic., cap. 99 (28th June, 1861), the company was authorised to raise new capital to the extent of 40,000l. at 51. per cent. By 33 and 34 Vic., cap. 59 (20th June, 1870), the Limerick and Foynes was authorised to cancel certain unissued preference shares, and to borrow on mortgage in lieu thereof, and to issue debenture stock to the extent of 25,000. Meetings half-yearly, March and September. Quorum: 10 shareholders, holding 10,000l. Shareholders' requisitions, quorum, 10, holding 20,000. Books balanced 31st December and 30th June; inspection 14 days before, and 14 days after each ordinary meeting. Scale of Voting.-Above 5 to 20 shares, one vote; every 10 above 50, one vote. No. of Directors-15 to 10. Qualification. 40 shares own right; quorum, 3. Committee of directors: minimum, 3-chairman's casting vote; quorum, 3 or 2. Auditors' qualification same as directors. DIRECTORS: Chairman-WILLIAM MALCOMSON, Esq., Portlaw, County Waterford. The Earl of Dunraven, Adare, and 5, | Abraham Stephens, Esq., Duncannon. Buckingham Gate, S.W. Thompson Russell, Esq., Limerick, John White, Esq., Nantinan, Rathkeale. J. W. Murland, Esq., Dublin, OFFICERS.-Sec., William Carroll, Limerick; Res. Eng., James Tighe, Waterford; Traffic Man., Thomas Ainsworth, Limerick; Solicitors, Barrington, Son, and Jeffers, Limerick and Dublin. Offices-Limerick. 174-LISKEARD AND CARADON. Incorporated by 7 Vic., cap. 42 (27th June, 1843), to construct a mineral line between these places in Cornwall. Length, 84 miles. Opened in March, 1846. By 23 Vic., cap. 20 (15th May, 1860), the company was authorized to regulate its capital as follows:-the sum of 18,8251. in shares of 1,000l. due on mortgage or bond, with power to raise further sums of 12.000l. by new shares, and 9,000l. by borrowing; to empower the company to make alterations in two portions, length 6 miles, of their existing railways, and also a new railway, length 2 miles, from a junction with the main line near Trecarne Farm to Gonomena, on Cheesewring branch, and a new branch, length 1 mile, from Crow's Nest to Tokenbury Corner. This Act also authorises the company to take on lease or purchase or arrange for working of the Kilmar railway, belonging to the Cheesewring Granite Company (Limited); and to arrange with the commissioners of Looe Harbour with respect to laying down rails at, and the use of, the works of the commissioners. The dividends are at the rate of 5 per cent. Meetings on the 2nd Tuesday in February in each year. No. of Directors-8; minimum, 6; quorum, 3. Qualification, 100%. 175.-LISKEARD AND LOOE. Incorporated by 21 Vic., cap. 11 (11th May, 1865), to construct a line from Liskeard, 7 miles in length, to join the Liskeard and Caradon. Both are intended for conveyance of minerals in Cornwall, and may be used as feeders to the trunk line in that county. The steepest gradient is 1 in 63. Capital, 13,0001. in 251. shares, to be provided by the Liskeard and Looe Canal, and loan, 4,000l. Estimate, 12,000. Land for extra purposes, 10 acres; compulsory purchase, 3 years; completion of works, 5 years. Working arrangements with Liskeard and Caradon, which has been open since 1846. Offices-Liskeard. 176.-LLANELLY. Incorporated (dock portion) by 9 Geo. IV., cap. 91 (1828), and (railway) by Wm. IV., cap. 96 (1835), for a line from Llanelly to Llandilo, with branches to Cwmamman Spitty, Mynyddmawr, Brynamman, &c. By 16 and 17 Vic., cap. 169 (6th August, 1853), an extension from Dyffryn Junction to Dlandilo (7 miles) was authorised, with branches to Celyrychan (2 furlongs), and to Pistill-issa (3 furlougs). The line forms a junction with the Great Western (South Wales) at Llanelly and (Vale of Neath) at Swansea, with the Swansea Vale at Brynamman, with the London and North Western (Central Wales) at Llandovery, and with the Carmarthen and Cardigan, near Carmarthen. PRODUCTIVE MILEAGE.-Original undertaking, including say one moiety (51 miles) of Vale of Towy. 414 miles; Carmarthen line, including 1 mile 10 chains of Carmarthen and Cardigan, 14 miles; owansea lines, 16 miles; total, 711⁄2 miles. By 23 and 24 Vic., cap. 161 (23rd July, 1860), the company was empowered to take a lease in perpetuity of the Vale of Towy. The company were also authorised to issue share and debenture bonds to a further amount for various purposes, to the extent of 165,0001. By 24 and 25 Vic., cap. 217 (1st August, 1861), the company was authorised to construct lines to Swansea, with branch to Penclawdd, and to the Carmarthen and Cardigan. Length, 30 miles. Capital, 270,0001, in shares, and 89,9007, on loan. Opened to Carmarthen, 13 miles, on the 1st June, 1865; to Swansea, 12 miles, on 14th December, 1867. By 25 and 26 Vic., cap. 161 (17th July, 1862), the company was authorised to make certain deviations in the Swansea and Carmarthen lines, to lay down narrow gauge rails on the Carmarthen and Cardigan, and to raise new capital of 25,000l. in shares, and 8,3201. on loan. Also to enter into agreements with the Vale of Neath and South Wales. By 26 and 27 Vic., cap. 103 (29th June, 1863), the company was authorised to raise additional capital, namely 114,0001, for the Swansea lines, and 8,000, for the Carmarthen line, with 40,0001, on mortgage. Among the new works sanctioned the principal was a branch to the south side of the south docks at Swansea. Length, 45 chains. An agreement has been made with the Duke of Beaufort for a lease of wharf lands and frontage on that side of the dock, with regard to which arrangements have been made with the Swansea Harbour trustees and the Vale of Neath, whereby those parties as well as the company make use of them. By 27 Vic., cap. 1 (28th April, 1864), the company was authorised to re-arrange its capital, and to affix preferences to certain parts thereof, as well as to divide portions into half-shares. By 27 and 28 Vic., cap. 218 (25th July, 1864), the powers of the company were extended in regard to deviations and crossings, and also to construct a line, called the Gower Road Junction, to connect with the Great Western at Gower Road. Length, mile. Capital, 18,000. in shares, and 6,0007, on loan. By 28 and 29 Vic., cap. 158 (29th June, 1865), the company was authorised to raise additional capital to the extent of 120,000l. in shares, and 40,000l. on loan. By 28 and 29 Vic, cap. 349 (5th July, 1865), the company was authorised to extend the line to Mumbles, Swansea Bay. Length, 24 miles. Capital, 36,000. in shares, and 12,0001, on loan. By 29 and 30 Vic., cap. 289 (30th July, 1866), the Llanelly was authorised to construct a pier at the Mumbles. Capital, 40,000l. in shares, and 13,300l. on loan. LLANELLY-LLANGOLLEN AND CORWEN. 151 By 30 Vic., cap. 93 (17th June, 1867), the Llanelly obtained further powers in extension of time for completion of works, and for amalgamation of the capital of the separate undertakings, &c. The Central Wales, the Central Wales Extension, and the Knighton were also authorised to subscribe 50,000l. each to the Llanelly. By 32 and 33 Vic., cap. 76 (12th July, 1869), the company was authorised to construct a junction with the Carmarthen and Cardigan, to separate the capital of the Mumbles Extension; also to extend the time for completion of the latter till 1st December, 1872. VALE OF TOWY.-This line, which is a virtual continuation of the communication to Llandovery, was opened on 1st April, 1858. By an Act of 1858 the two lines might be worked under one management. The terms were:- Capital of the Vale of Towy not to exceed 50,000l. in shares, and 18,000l. in debentures-together, 68,000l. The Llanelly to pay interest not exceeding 5 per cent. on the debenture capital, and on the share capital 2 per cent. for five years; 3 per cent. for next five years; with power to the Llanelly to determine the lease at the end of the fifth year, and giving a year's notice, and paying a penalty of 1,000l. to the Vale of Towy. This line has since been jointly lessed by the London and North Western and the Llanelly, so as the more efficiently to develope the traffic on the Central Wales, &c. REVENUE.-The receipts on the original undertaking for the half year ending 31st December were 27,4471., and the expenditure 24,379., leaving a balance of 3,0681., sufficient to pay a dividend at the rate of 3 per cent. The receipts on the Carmarthen and on the Swansea showed an increase. There was due from the former line to the original undertaking 12,4361., and from the latter 28,6661. The traffic made an advance of 2,1691. over the corresponding six months of 1868, notwithstanding the heavy depression of trade. It was also reported that the expenses were heavy, owing to the necessity for laying new rails and sleepers, and for the improvement of the permanent way. When this extraordinary outlay was completed, the present receipts showed that the undertaking would be remunerative. The June report stated that the receipts for the half-year had been 26,9291., and after paying the interest on debentures, preference dividends, and working expenses, there was a balance of 5,075., of which 2,0411. was appropriated to interest on advances to the Swansea and Carmarthen undertakings, leaving 3,0331. available for dividend on the ordinary stock at the rate of 31. per cent. per annum, carrying forward 781. The earnings would have been sufficient to pay a dividend at the rate of 5 per cent, but for the deductions in respect of the Swansea and Carmarthen lines. The earnings on the Carmarthen had been 4,3391., and the payments 3,480. The earnings on the Swansea had been 7,8371., and the payments 6,1697. CAPITAL.-It was resolved at the meeting in August that the directors should be authorised to raise such additional capital as empowered by Parliament. Scale of Voting.-For every 251. up to 250l. nominal value of shares, 1 vote; for every sum of 1251. beyond 2501, and up to 2,500!., 1 additional vote; and for every sum o 250%. beyond 2,500l., 1 additional vote. Certificates must accompany transfer deeds. Registration fee, 28. 6d. No. of Directors.- Maximum, 12; quorum, 3. Qualification, 1,000l., nominal. Committees, 3 and 5; quorum, 2. DIRECTORS: 1 Chairman-JOHN BIDDULPH, Eeq., Swansea. 2 Deputy-Chairman-JOHN TOWNSEND KIRKWOOD, Esq., Yeo Vale, Bideford. 3 David Lewis, Esq., Stradey, Llanelly. 3 Henry Lewis Smale, Esq., 2, Dean's Court, Doctors' Commons, E.C. 1 Charles William Christie, Esq., 10, Hyde Park Square, W. 1 James Kitson, Esq., Elmete Hall, Leeds. 1 Major Rice Watkins, Llwyny brain, 2 William Blount, Esq., Orchhill House, Gerard's Cross. 2 Samuel Hawksley Burbury, Esq., New Square, Lincoln's Inn, W.C. 3 Charles Townsend Murdoch, Esq., 1, Pall Mall East, S.W. 3 John Worrall Walker, Esq., Highfield House, Hawkhurst, Kent. 1, Retire in January, 1871; 2, January, 1872; 3, January, 1873. OFFICERS.-Supt. and Sec., Richard Glascodine, Llanelly: Eng., E. H. Lloyd Llandilo, Carmarthenshire; Solicitors, Markby and Tarry, 57, Coleman Street, E.C.; Bankers, Cocks, Biddulph, and Co., 43, Charing Cross, W. Head Offices-Llanelly, Carmarthenshire. 177.-LLANGOLLEN AND CORWEN. Incorporated by 23 and 24 Vic., cap. 188 (6th August, 1860), to construct a single line from the Vale of Llangollen to Corwen, to join the Denbigh Ruthin and Corwen, and thus complete communication from Shrewsbury to the Chester and Holyhead. Length, 10 miles. Capital, 90,000. in 101, shares, Loans, 30 0007. Arrangements with Great Western and Vale of Llangollen. Opened 1st May, 1865. The line continues to be satisfactorily worked by the Great Western. The dividends on the ordinary stock for the half-year ending 31st December were equal to 3 per cent. per annum, and for the six months ending 30th June to 21, with a bonus of 10s. The balance on hand is 7661. CAPITAL.-The expenditure to 30th June, 1870 amounted to 120,0401., the receipts having been as under : No. of Directors-9; minimum, 5; quorum, 3. Qualification, 5001. DIRECTORS: Chairman-CHARLES JOHN TOTTENHAM, Esq., Plâs Berwyn, Llangollen. Mount, Oswestry, and 3A, King Street, Sir W. W. Wynn, Bart, M.P., Wynnstay, J. R. Ormsby Gore, Esq., M.P., The William Wagstaff, Esq., Corwen, John Robertson, Esq., Siamberwen, Llangollen. John Taylor, Esq., Hatherton Hall, Stafford. All eligible for re-election, OFFICERS.-Sec., Charles Richards; Eng., Henry Robertson; Solicitors, Longueville. Jones, and Williams, Oswestry, and C. Richards, Llangollen; Auditors, William Patchet and John Wagstaff Blundell. Offices-Llangollen. 178.-LLANTRISSANT AND TAFF VALE JUNCTION. Incorporated by 24 Vic., cap. 51 (17th June, 1861), to construct a line from the Taff Vale, at Llantwit Vairdre, to Llantrissant, with a branch to the Ely Valley and another to Llantrissant Common. Length, 5 miles. Capital, 40,000l. in 10 shares. Loans, 13,000. Power was taken to purchase the Llantwit railway, and to authorise the Taff Vale to subscribe 13,000l., also to lay down the narrow gauge on the Ely Valley. The Taff Vale undertake maintenance of railway and works and entire arrangement of the traffic, aud collection of tolls and charges incidental thereto, and pay the Llantrissant 5 per cent. upon share capital of 40,000l., interest upon debenture debt for the time being, with an additional annual payment of 2501, for management. By 29 and 30 Vic., cap. 248 (23rd July, 1866), the Llantrissant and Taff Vale was authorised to construct extensions to the Penarth and the Ely Valley. Length, 10 miles. Capital, 120,000l. in shares, and 47,000l. on loan. Works in progress. By 33 and 34 Vic., cap. 73 (20th June, 1870), the company was authorised to abandon the railway No. 2, sanctioned in 1866, and an extension of time for 4 years obtained for construction of No. 1, also to lease the undertaking to the Taff Vale under the provisions of an agreement, for which, see APPENDIX to present Volume. CAPITAL. The receipts and expenditure on this account to 30th June, 1870, have been detailed as under:- No. of Directors-6; minimum, 4; quorum, 3. Qualification, 3007. DIRECTORS: 1 Chairman-JAMES POOLE, Esq., Wick House, Durdham Down, Bristol, 1 William Done Bushell, Esq., Cambrian | 2 John Whitlock Nicholl Carne, Esq.. Place, Cardiff. 1 Henry Jones Evans, Esq., Brecon Old Bank, Cardiff. D C.L, St. Donat's Castle, Glamorgan shire All eligible for re-election. 1 Directors elected at the half-yearly meeting in February. 2 for re-election in February, 1871. OFFICERS-Sec.. Fredk. Marwood; Eng, George Fisher: Auditors, Wilberforce Tribe and Fulke L. W. Barnard, Bristol; Bankers, Wilkins and Co., Cardiff. Offices-Taff Vale Railway, Crockherbtown, Cardiff. LLYNVI AND OGMORE. 179. LLYNVI AND OGMORE. 152 An amalgamation of the Llynvi Valley and Ogmore Valley systems, the capitals being kept distinct. LLYNVI VALLEY.-Originally incorporated by 9 and 10 Vic., cap. 353, and various other Acts, all of which are of a purely local character, and refer to creation of capital by which to convert the original tramway into a broad gauge line in connection with the South Wales. By 18 Vic., cap 50 (June 15th, 1855), Parliament conferred the long sought power to make a locomotive line on the broad gauge, from the end of the valley to Bridgend. The Act authorised new capital to the extent of 130,9201.; borrowing powers, 17,4251. The length of the main line from Tywith Bridge to the South Wales is 9 miles, of the branch from Foce Toll-house to Ynisawdre, is 24 miles. Opened August, 1861. By 25 and 26 Vic., cap. 115 (30th June, 1862), the company was authorised to raise new capital to the extent of 40,000l. in shares of 5 per cent., and 3,3001. on loan. By 27 and 28 Vic., cap. 48 (23rd June, 1864), arrangements were authorised between the Llynvi Valley and the Ogmore in respect to improvements in the harbour of Porthcawl and other works. Also to construct a short line of half a mile in length. Capital to each, 30,000l. in shares and 10,000l. on loan. By 29 and 30 Vic., cap. 117 (28th June, 1866), the Llynvi Valley was authorised to construct two short extensions and to acquire additional lands. Length, 2 miles. Capital, 100,000l. in shares and 33,000l. on loan. OGMORE VALLEY.-Incorporated by 26 and 27 Vic., cap. 139 (13th July, 1862), to construct railways in Glamorganshire from the Llynvi Valley to Nant-y-Moel, and a branch. Length, 9 miles. Capital, 90,000l. in 201. shares; loans, 30,0001. Arrangements with Llynvi Valley. Opened 1st August, 1865. By 27 and 28 Vic., cap. 48 (23rd June, 1864), arrangements were authorised between the Ogmore and the Llynvi Valley, in respect to improvements in the harbour of Porthcawl and other works. Also to construct a short line (length, mile). Capital, to each, 30,000, in shares and 10,0001, on loan. By 29 and 30 Vic., cap. 252 (23rd July, 1866), the Ogmore was authorised to construct five short extensions in Glamorganshire. Length, 11 miles. Capital, 123,000l. in shares, and 41,000. on loan. Amalgamated with Llynvi Valley under the name of "Llynvi and Ogmore" by 29 and 30 Vic., cap. 120 (28th June, 1866). By 30 and 31 Vic., cap. 95 (15th July, 1867), the Llynvi and Ogmore was authorised to increase its capital by the sum of 100,0001. in shares, and 33,3001, on loan. Also to enter into arrangements with the South Wales Mineral. By 32 and 33 Vic., cap. 61 (26th June, 1869), the company obtained power to raise 60,0001, by debentures or debenture stock for payment of debts. ELY VALLEY EXTENSION.-Incorporated by 26 and 27 Vic., cap. 199 (28th July, 1863), to construct a line from the western terminus of the Gellyrhaidd branch of the Ely Valley to Pelfachgoch; broad gauge. Length, 1 mile. Capital, 12,000l. în 107. shares; loans, 4,000, Arrangements with Ely Valley and Great Western. Amalgamated with Ogmore Valley by 28 and 29 Vic., cap. 205 (5th July, 1865). REVENUE-It was reported in August that the revenue continued to show a satisfactory increase, the receipts for the half-year being 1,9507. in excess of those of the corresponding period. The gross revenue for the half-year had been 23,4871, and the expenditure 10,523, leaving a balance of 12,9641., which exceeded by 1,6577. the net revenue of the corresponding period. The balance, after providing for interest on debenture loans, debenture stock, and all other debts, was 6,6321. The dividends on the whole of the guaranteed and preferential stocks amounted to 4,8951., leaving the balance applicable to the ordinary stock 1,737., which admitted of a dividend at the rate of 3 per cent. per annum on the Llynvi ordinary stock, leaving a balance of 551. CAPITAL.-During the half-year the issue of debentures and 5 per cent. debenture stock had been 47,0467., and 15,0981. of 5 per cent. redeemable preference shares. This enabled the directors to clear off the liabilities to contractors and others, and consequently the dividend for the half-year, as well as such of the remaining arrears of dividend as shall not be forthwith taken by proprietors in debenture stock or preference redeemable shares, will be paid in cash. The receipts and expenditure to 30th June, 1870, were as follow: |