. Legislative regulation of railway finance in England . gistered officers as a true copy, of their loan-capital half-yearly account, and it should be unlawful for any rail-way company to borrow any money unless and until it has first depos-ited the aforesaid accounts. Failure to deposit such accounts orto register its proper officer should render the company liable toa fine not exceeding £20 for the initial offence and a penalty notexceeding £5 per day during which the offense continued. (5) Anyperson might inspect the documents kept by any registrar on the pay-ment of one shilling for each i
. Legislative regulation of railway finance in England . gistered officers as a true copy, of their loan-capital half-yearly account, and it should be unlawful for any rail-way company to borrow any money unless and until it has first depos-ited the aforesaid accounts. Failure to deposit such accounts orto register its proper officer should render the company liable toa fine not exceeding £20 for the initial offence and a penalty notexceeding £5 per day during which the offense continued. (5) Anyperson might inspect the documents kept by any registrar on the pay-ment of one shilling for each inspection, and might have certified 1 extracts furnished him on the payment of additional fees. It was further provided that thereafter two of the directors and the regis tered officers of each company should endorse on every debenture, each for himself, as stated in the act, that, so far as he know the debenture was issued duly and was within the prescribed limits 1. Section 12 of the act provided that sixpence should be chargedfor every 2000 1 to the borrowing powers. In caso any mortgage deed or bond was de-livered without such a declaration, the company should bo liableto a penalty not exceeding £20 ±or every offence, and if any officoror director knowingly permitted the delivery of such mortgage deed,etc., he should be liable to the same penalty as that ofthe company. Moreover, if any director or registered officer of acompany signed any declaration, account, or statement required bythe act, knowing the same to be false in any particular, he shouldbe deemed guilty of an offence against the act and should be liableto a fine or imprisonment* It may be noticed that all the provisions contained intheact had been, more or less, generally conceded as being did not adopt any of the more stringent measures, such asthe compulsory stamping of each security by the Government, etc,for fear that in trying to require too much at a time the wh
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