. Legislative regulation of railway finance in England . d Chichester Railway, consideredcarefully the following questions: 1. The amount of the proposed capital and the amount of loansto be raised. 2. The amount of shares subscribed for and the deposits paidthereon. 3. The names and places of residence of the directors withthe amount of shares taken by each. 4. The number of shareholders who might be considered ashaving a local interest in the line, and the amount ofcapital subscribed by them, together with their names andaddresses. 5. The number of other share-holders and the capital takenby
. Legislative regulation of railway finance in England . d Chichester Railway, consideredcarefully the following questions: 1. The amount of the proposed capital and the amount of loansto be raised. 2. The amount of shares subscribed for and the deposits paidthereon. 3. The names and places of residence of the directors withthe amount of shares taken by each. 4. The number of shareholders who might be considered ashaving a local interest in the line, and the amount ofcapital subscribed by them, together with their names andaddresses. 5. The number of other share-holders and the capital takenby them. It was only after being satisfied with respect to these points as set forth in the bill, that the committee would recommend its passage. The manner in which these provisions governing share capital of railway companies were embodied in the special actsis illustrated by the following passages from the London and Croydon 3jL. CT. John Fraserj^ British Railroads, 1903, pp. 26-27. Railway Times, October 5, 1839.£3:. Rarilway--T~iws, April 25, Railway Act of 1837:- CXXXVI. And whereas the probable expense of making therailway and other works hereby authorized will amcunt to the sumof £1,800,000, and sums exceedinp that amount have been subscribedunder the subscription contracts ; be it enacted, That, not-withstanding any thing in the several subscription deeds or con-tracts , the capital of the company hereby incorporated shall be 11,800,000 divided into 36,000 shares of £50 each; and thatsuch shares shall, as scon as conveniently may be after the passingof this act, be apportioned and divided to and amongst the several provisional Committee or provisional Directors , in the proportion herein-before mentioned, The act further permitted the company to increase the number of shares by diminishing the amount in value of each share in order to facilitate the allotment of such shares among the subscribers. As these clauses became numerous and complicated Parliamentconsol
Size: 1336px × 1871px
Photo credit: © Reading Room 2020 / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookdecade1910, booksubjectra, booksubjecttheses
