7.-ARBROATH AND FORFAR. Incorporated by 6 and 7 Wm. IV., cap. 34 (17th May, 1836), for construction of a line commencing on the west at Forfar, in conjunction with the Scottish Midland, and terminating on the cast of Arbroath harbour, 154 miles. Worked by Caledonian: The dividend continues to be equal to 6 per cent. per annum. CALEDONIAN.-The following clause was inserted in the Act by which the Scottish North Eastern is leased to the Caledonian:-Nothing in this Act contained shall in any way alter, diminish, prejudice, or affect any right, interest, power, preference, or privilege belonging to or vested in the Arbroath and Forfar, under or by virtue of the Arbroath and Forfar Act, 1846, and the Arbroath and Forfar Act, 1848, or the rent agreed and payable to the Arbroath and Forfar by the Aberdeen, under or in virtue of the same Acts, or shall in any way alter, diminish, prejudice, or affect the nature of the rent-charge, real burden, and priority created by such Acts in respect of the said rent or the right to levy and recover any such rent under and in terms of such Acts; it being hereby expressly provided and declared that all such rights, interest, powers, priority, privileges, rents, rent-charge, and real burden are to remain the same in all respects as if this Act had not been passed, with this exception, that where any obligations were conferred or imposed with reference thereto upon the Aberdeen, the same shall, after the passing of this Act, be performed by, and may be enforced against, the company in the same way and manner, and to the same extent and effect as the same, but for the passing of this Act ought to be performed by, or might have been enforced against, the Scottish North Eastern, under the Scottish North Eastern Act, 1856, and the Scottish North Eastern Act, 1863. CAPITAL. The receipts and expenditure on this account, as detailed to the annual meeting in March, 1870, were as follow: Chairman-ROBERT MILN, Esq., of Viewfield, Arbroath. Arbroath. John Mudie, Esq., of Pitmuies, Arbroath. | Alexander Gordon, Esq., of Ashludic, William Roberts, Esq., Forfar. Three rotate, in order required by Act, every year, and are eligible for re-election. Arbroath. 8.-ATHENRY AND ENNIS JUNCTION. Incorporated by 23 and 24 Vic., cap 200 (30th August, 1860), to construct a line from the Midland Great Western, at Athenry, to Limerick and Ennis, at the latter place. Length, 36 miles. Capital, 200,000l. in 10. shares; loans, 66,0007. By 26 and 27 Vic., cap. 133 (13th July, 1863), an extension of time for compulsory purchase of land to 20th August, 1865, and for construction of works to 20th August, 1867, was obtained. This bill also includes a working agreement for 20 years with the Waterford and Limerick, who subscribes 9,0007. By 28 Vic., cap. 18 (26th May, 1864), the company was authorised to cancel 100,0007. of the original capital of the company, and issue, in lieu and in addition thereto, preference share capital amounting to 130,000l., bearing a dividend of 5 per cent.; and the borrowing powers have been increased from 66,000., under previous Acts, to 76,0001. Power is also given to issue debenture stock for the last amount in lieu of bonds. By 30 Vic., cap 74 (17th June, 1867), the company obtained an extension of time for completion of works to 20th August, 1869, and also running powers over the Midland Great Western, and Limerick and Ennis, and for use of their stations at Athenry and Ennis. Reciprocal facilities with the Waterford and Limerick, and power to abandon former agreement with latter company. ATHENRY AND ENNIS JUNCTION-ATHENRY AND TUAM. 5 By 31 and 32 Vic., cap. 144 (13th July, 1868), the company was authorised to cancel 35,0001. of its preference shares at 5 per cent., and to issue in lieu thereof 15,000l. of debentures at the same rate, thus obtaining a higher class of security at a saving of 1,000 annually to revenue; also to lease the Athenry and Tuam on surrender of the existing lease to the Midland Great Western. At a special meeting in Dublin, on it was resolved to cancel class B 5 per cent. preference shares to the extent of 35,0007., and to issue instead thereof mortgages and debenture stock, at 5 per cent., amounting to 15.000l., so as to enable the directors to discharge several pressing claims which had already The result would be a saving to the company of been agreed upon for land, &c. 1,000l. a year. It was reported in August, that, after paying the working charges, an amount of 1,1801. remained to credit of net revenue, and that that sum would be available to meet interest upon bonds, government loan, &c., had it not been exhausted in meeting a required expenditure necessary to complete the railway in the absence of any available capital. It was also reported that arrangements were being made with the debenture holders to renew their debentures as they fell due, as well as to capitalise the accumulated interest thereon up to the 30th of June last. Similar negotiations were progressing with the treasury to capitalise the arrears of interest on the government loan, and for the future either to pay off principal and interest by a fixed rate over a defined term of years, or to continue the loan in perpetuity at a reduced rate of interest. CAPITAL.-The expenditure on this account to 30th June, 1870, amounted to 293,459.; the receipts having been as follow: Shares, ordinary..... Shares-Class A preference, 10. fully paid up......... Loans Interest received on calls Calls paid on forfeited shares Balance £95,420 66,590 £271,067 £293,459 The estimate of future liabilities requires 36,6197., while the assets were stated at 16,4897. Accounts to 31st December and 30th June. Meetings in January or February, and August or September. No. of Directors.-Maximum, 9; minimum, 6. Qualification, 5001. Directors retire and are elected in accordance with the Companies' Clauses Act. DIRECTORS: Chairman-3 Sir COLMAN M. O'LOGHLEN, Bart., M.P., Merrion Square, Dublin, and Drumconora, County Clare. 2 James Fitzgerald Lombard, Esq., J.P., | 1 Denis Kirwan, Esq., D.L., Castle Hacket, Rathmines, Dublin. Tuam. 3 David Coffey, Esq., Belvidere House, 1 Thomas Redington Roche, Esq, Ryehill, Drumcondra, County Dublin. Monivea. County Wexford. 2 William Henry Gregory, Esq., M.P., 3 Abraham Stephens, Esq., Duncannon, Coole Park, Gort, County Galway, and 19, Grosvenor Street West, S. W. 1, Retire in February, 1871; 2, 1872; 3, 1873. OFFICERS.-Sec. and Gen. Man., John Fowler Nicoll; Traffic Supt., Thomas O'Malley, Ennis; Eng.-in-Chief, George Willoughby Hemans, 1, Westminster Chambers, Westminster, S.W.; Auditors, 2 Michael MacNamara, Ennis, and 3 Thos. Greene, J.P., Ennis; Solicitors, William H. M'Grath and Co. Offices-53, Lower Dominick Street, Dublin. 9.-ATHENRY AND TUAM. Incorporated by 21 and 22 Vic., cap. 112 (23rd July, 1858), to construct a line from the Midland Great Western, at Athenry, to the town of Tuam. Capital, 90,0007. in 107. shares; loans, 30,000. Length, 15 miles. Estimate, 90,000l.; actual cost, 94,5007. Single line opened 27th September, 1860. A special agreement, dated 26th April, 1859, was entered into with the Midland Great Western to lease the line from date of completion for ten years, at a clear annual fixed rental of 4,0002., the Midland further agreeing to keep the permanent way, stations, and other works and plant in perfect repair during the lease, but allowing for reasonable wear and tear. Power is given both companies to renew this agreement at the termination of the first lease, the terms of such renewal to be subject to the approval of the Board of Trade. An Act, 23 and 24 Vic., cap. 182, was obtained during the session of 1859-60, giving effect to the foregoing agreements, and thus rendering the stock of the company a guaranteed security. By 31 and 32 Vic., cap. 144 (13th July, 1868), the Athenry and Ennis was authorised to take a lease of the Athenry and Tuam on surrender of the existing lease of the Midland Great Western. REVENUE.-The receipts for the year ending 31st December, 1869, amounted to 1.961., and the working expenditure to 1,5967. For the June six months the receipts were 2,1497., and the expenses 1,670l. From these resources the Midland Great Western had to pay the leased rent of 4,0007. a year. MIDLAND GREAT WESTERN.-The directors of this company reported as follows in September, in respect to the Athenry and Tuam:-"The working agreement entered into with this company in 1860, will expire on the 28th October. Your directors have offered to work that line either on the basis of the receipts for the last ten years,' or for an extended term of years, deducting from the receipts all expenses of working, and handing over to that company any balance; this proposal has not been deemed satisfactory, and your directors will therefore be prepared to hand over the line as provided for by the agreement. Although your directors consider the Athenry and Tuam should properly be attached to the Midland system, it cannot be overlooked, that the lease in the ten years of its existence, has entailed a loss of upwards of 30,000l. on your company.' Accounts made up to 25th March and 29th September. Meetings in April and October. No. of Directors.-Maximum, 8; minimum, 6; quorum, 3. Directors retire, and are elected in accordance with the Companies' Clauses Act. Qualification, 50 shares. DIRECTORS: 1 Chairman-DENIS KIRWAN, Esq., D.L., Castle Hacket, Tuam. 2 Robt. Bodkin, Esq., Annagh, Ballyglunin. | 3 Robert Henry, Esq., Tohermore, Tuam. 3 Charles Blake, Esq., Tuam. 2 David Ruttledge, Esq., Barbersfort, Ballyglunín. 3 John William Cannon, Esq., Castlegrove, Tuam. 1, Retire October, 1871; 2, 1872; 3, 1873. OFFICERS.-Sec., John Fowler Nicoll; Auditors, 3 Laurence Mullen, and 1 John Cannon Evans. Head Office-53, Lower Dominick Street, Dublin. 10. AYLESBURY AND BUCKINGHAM. Incorporated by 23 and 24 Vic., cap. 192 (6th August, 1860), to construct a line from the town of Aylesbury to join the Buckinghamshire at Claydon Junction. Length, 12 miles. Capital, 98,000!. in 257, shares. Loans, 32,5007. Working arrangements, under usual restrictions, with London and North Western and Buckinghamshire. Opened for traffic September 23rd, 1868. By 27 and 28 Vic., cap. 217 (25th July, 1864), the company was authorised to raise additional capital to the extent of 12,0007, in shares, and 4,000. by loan. By 28 Vic., cap. 98 (19th June, 1864), the company was authorised to raise additional capital to the extent of 110,000/. in shares, and 35,0007. on loan. Also to extend the time for completing the undertaking until two years after passing of this Act. By resolution of a special meeting held 18th June, 1866, the directors were authorised to issue preference shares to the extent of 15,0007. By a resolution passed 26th May, 1868, the directors were authorised to issue 15,0007. additional preference shares; total, 30,000%. No. of Directors-9; minimum, 3; quorum, 4; and 2 when reduced to 3. Qualification, 2501. DIRECTORS: Chairman-His Grace the DUKE OF BUCKINGHAM and CHANDOS, Wotton, Captain Edmund Hope Verney, Claydon | John Kersley Fowler, Esq., Aylesbury. Lieut.-Colonel Philip Smith, The Guards' J. W. Williamson, Esq., 4, Stone Buildings, AYR AND MAYBOLE JUNCTION-BANBRIDGE JUNCTION. 7 OFFICERS.-Sec., J. G. Rowe; Eng., Wm. Wilson, 4, Victoria Street, Westminster, S.W.; Auditors, John Edward Bartlett, Aylesbury, and Henry Hearn, Buckingham; Solicitors, Jennings, White, and Buckston, Whitehall Place, Westminster, S.W. Head Offices-Aylesbury. 11.-AYR AND MAYBOLE JUNCTION. Incorporated by 17 and 18 Vic., cap 146 (1854); length, 5 miles; capital, 83,000. in 10 shares, with 10,000. by loan. Worked, maintained, and renewed under an Act obtained in 1863 by the Glasgow and South Western, at 45 per cent; to be gradually reduced to 39 per cent when the yearly receipts amount to 3,060. The directors, in terms of the Company's Powers Act, 1864, obtained authority by certificate from the Board of Trade to raise 2,000. of additional capital, partly in shares and partly on mortgage. REVENUE-It was reported in March and September that the revenue continued to improve. The net earnings for the half-year ending 31st July, yielded sufficient for a dividend of 63 per cent.; but the directors thought that a dividend at the rate of 6 per cent. should be declared, and the balance be carried to the credit of the next account, increasing the amount to 4451. CAPITAL-The expenditure on this account extends to 46,5817., the receipts having been acquired as under: Shares and stock...... Loans..... From revenue account Superfluous landa Transfer fees Meetings in February or March, and in August or September. ..£34,500 10,500 1,388 191 2=£46,581 No. of Directors.-Maximum, 7; minimum, 4; quorum, 3. Qualification, 2507. DIRECTORS: Chairman-JOHN ROSS, Jun., Esq., Merchant, Glasgow. Deputy-Chairman-WILLIAM B. CUTHBERTSON, Esq., Merchant, Ayr. Thomas Rennie, Esq., Banker, Maybole. Andrew Paterson, Esq.,. of Carston, Ayr. John Cunningham, Esq., Trees, Maybole. George M'M. T. Bone, Esq., Maybole. David Brown, Esq., Banker, Maybole. OFFICERS.-Sec. and Treasurer, Wm. Pollock, Banker, Ayr; Auditors, G. Gemmell and Wm. Bone. 12.-BANBRIDGE JUNCTION. Incorporated by 16 and 17 Vic., cap. 208 (August 20th, 1853), for a line from Banbridge to a junction with the Dublin and Belfast Junction, near Scarva, and opening up communication with the ports of Newry, Dublin, and Belfast. Length, 6 miles. Opened April, 1859. Worked by Dublin and Belfast Junction, which includes Banbridge receipts in its traffic returns. By 19 and 20 Vic., cap. 54 (23rd June, 1856), the name of the company was altered from "Banbridge, Newry, Dublin, and Belfast Junction," to "Banbridge Junction." The capital was fixed at 60,0001, in 207. shares; loans, 20,0007. The new shares (equal to 20,0007.) issued with a preference attached 7. 108. per cent. By 23 Vic., cap. 59 (25th May, 1860), the Banbridge Junction is leased to the Dublin and Belfast at a rental of 2,000l. per annum. REVENUE-After an accumulation of several balances from previous half years, a dividend at the rate of two per cent. per annum was declared for the half year ending 30th June. CAPITAL The receipts and expenditure on this account to 30th June, 1870, were detailed as under : Received. Expended. Shares and stock.................. £39,928 On line open for traffic 17,350 .......... £57,038 Meetings in March and September, at Banbridge. Quorum, 10 shareholders, in person or by proxy, if representing 3,000l. Ten shareholders holding the same amount may require a special meeting. No. of Directors-6; one of whom to represent Dublin and Belfast Junction; quorum, 3. Qualification, 2001. DIRECTORS: Chairman-JOHN TEMPLE REILLY, Esq., D.L., J.P., Scarvagh House, Scarvagh, County Down. Deputy-Chairman-THOMAS CRAWFORD, Esq., J.P., Ballyvally House, Banbridge. Samuel Law, Esq.,J.P.. Kilbarrack House, Robert Mc. Clelland, Esq., Bellemount, William Smyth, Esq., Lenederg, Ban- OFFICERS.-Sec., William Mackay, Baubridge; Auditors, William Waugh, Banbridge, and John Smith, Banbridge; Eng., James Barton, Dundalk. 13.-BANBRIDGE, LISBURN, AND BELFAST. Incorporated by 21 Vic., cap. 46 (4th June, 1858), to construct a line from Banbridge to Lisburn. Capital, 150,0007. in 10. shares; loans, 49,000. Main line from Banbridge to junction with the Ulster, near Lisburn, 15 miles; junction from Banbridge to Banbridge Junction, 17 chains. Opened 13th July, 1863. Worked by Ulster at 66 per cent. By 25 and 26 Vic., cap. 107 (30th June, 1862), the line was authorised to be leased to the Ulster for 21 years from the date of completion; and for a further period of 10 years, on terms to be agreed upon (if necessary, by arbitration), on Ulster taking 25,000. stock, guaranteed 4 per cent. By 23 Vic., cap. 6 (3rd April, 1860), the Ulster was authorised to hold 25,0007. in the stock of the company, at a pre-preference or 4 per cent.; the company also authorised to issue 1,500 shares at a preference of 5 per cent. REVENUE.-The following is a comparative statement of traffic for two years: CAPITAL.-Particulars of the receipts and expenditure on this account to 30th June, 1870, were detailed as follow: Accounts made up to 31st December and 30th June. No. of Directors -9; minimum, 3; quorum, 3. Qualification, 2001. DIRECTORS: Chairman-FITZHERBERT FILGATE, Esq., Castleshane, Monaghan. George Brush, Esq., Gillhall, Dromore. Thomas Ferguson, Esq., Edenderry, Banbridge. John Lindsay, Esq., Tullyhenan, Banbridge. William Waugh, Esq., Banbridge. Charles Murland, Esq., Ardnabannon, Castlewellan. James Gray, Esq., Woodbank, Whiteabbey, Belfast. St. John Blacker, Esq., Elm Park, Killylea. OFFICERS.-Sec., William Mackay, Scotch Widows' Fund Buildings, High Street, Belfast; Auditors, Reuben Simms and Alexander Finlay, Belfast; Solicitor, James Murland, Downpatrick. |