NORTH UNION-NORTHAMPTON AND BANBURY JUNCTION. DIRECTORS: 287 Chairman-COLIN MINTON-CAMPBELL, Esq., M.P., Woodseat, Staffordshire. John Bramley-Moore, Esq., Gerrard's Francis Stanier, Esq., Peplow Hall, Arthur Mills, Esq., M.P., 34, Hyde Park *Samuel Morley, Esq., The Ashe, Derby. Charles Gurney, Esq., Trebursye, Laun ceston. James Jones Aston, Esq., Q.C., 4, Middle Colonel Josiah Wilkinson, Southampton * Represent the canal preference shareholders. Go out in rotation annually, in July. Eligible for re-election. OFFICERS.-Gen. and Traff. Man., Martin Smith: Sec., Percy Morris; Coaching 268.-NORTH UNION. An amalgamation of the Wigan and Preston and Wigan Branch, under the name of the North Union, by virtue of 4 Wm. IV., cap. 25, with which was afterwards incorporated the Bolton and Preston, by 7 and 8 Vic., cap. 2, established for lines from Parkside Junction with the L. and N. W. to Preston; and from Preston to Bolton. Productive mileage, 39 miles 60 chains. The undertaking is vested for ever jointly in the L. and N. W. and the L. and Y. under powers of act of 27th July, 1846, for a fixed annuity of 66,0637. 18s. from 1st January, 1846, payable in net moneys, free of deductions, except income tax, halfyearly, 15th February and 15th August, whereof 60-94ths are to be paid by the L. and N. W. and 34-94ths by L. and Y. This annuity is divided, 47,7327. 14s. 4d. amongst holders of A stock, and 18,3317. 14s. 8d. to B stock, equal to 10 per cent. and 7 per cent. respectively. By act of 19th July, 1875, the companies were authorised to construct a second line between Euxton and Preston. Length, about 5 miles. Powers to Mr. Thomas Dicconson to make branch railways; London and North Western to raise 84,0007. by new shares or stock and 28,000. on loan; and to Lancashire and Yorkshire to raise 48,000l. by shares or stock and 16,000l. on loan. The books are generally closed about a fortnight previous to the date when the dividend warrants are payable, viz., 15th February and 15th August. Certificates must accompany transfer deed. Registration fee, 2s. 6d. each seller, and for each new certificate or coupon. Both classes may go on one deed. DIRECTORS: Chairman-1 WILLIAM BIRLEY, Esq., Preston. 2 Samuel Henry Thompson, Esq., Thing- | 4 Dr. Reynolds, Beech Lawn, Mossley, wall Hall, Knotty Ash, near Liverpool. Liverpool. 3 James Glover, Esq., Southport. Numbered according to seniority--all at present re-eligible. OFFICERS.-Sec.. Thomas H. Carr; Eng.-in-Chief, same as London and North Western and Lancashire and Yorkshire Companies; Eng., S. B. Worthington. Joint Lessees' Office-Fleetwood. 269.-NORTHAMPTON AND BANBURY JUNCTION. Incorporated by act of 28th July, 1863, to construct a line from Blisworth to Farthinghoe. Capital, 140,000/. in 10. shares; loans, 46,000l. Opened 1st June, 1872. By "The Branch Act, 1865," the company was empowered to make a branch to connect their railway with the Northampton and Peterborough of the London and North Western, and to raise additional capital to the extent of 193,300l., viz.:-By shares, 145,000.; on loan, 48.3007. Debentures converted into B debenture stock by act of 1870. Power to enter into traffic arrangements with Great Western. An agreement is scheduled to this act by which the company obtains running powers over the Buckinghamshire Line of the London and North Western, from Cockley Brake to Banbury, with the use of the London and North Western and Great Western stations. By "The Extensions Act, 1865," the company was empowered to extend their railway to Chipping Norton and Blockley, and to raise additional capital to the extent of 666,000l., viz. :-By shares, 500,000l.; on loan, 116,600/., but by the act of 1870 these borrowing powers were cancelled. By "The Junction Act, 1866," the company was empowered to extend their railway from Blockley to Ross, and to raise additional capital to the extent of 733,0007., viz.:-By shares, 550,000l.; on loan, 183,000., but by the act of 1870 these borrowing powers were cancelled. By this act the company obtained running powers over the Midland, between Bickford and Tewkesbury, over the Ross and Monmouth, and over the Worcester, Dean Forest, and Monmouth, between Newport and Monmouth. The name of the company was changed from the Northampton and Banbury Junction to "The Midland Counties and South Wales." Total length of line authorised, 96 miles. By act of 14th July, 1870, the company resumed its original name of Northampton and Banbury Junction, and was authorised to make the line from Bradden to Banbury in substitution of the railway, the powers for which were granted in 1863, but had lapsed, and for purchasing the necessary land. It also revived the powers of "The Branch Act, 1865," and contained provisions for raising 120,000l. of A debenture stock for finishing the line to Banbury and paying for land, and 180,000l. of B debenture stock to be issued in exchange for the existing debentures, and in payment of the general creditors. An arrangement has been made with the London and North Western for the supply of rolling stock and locomotive power at a fixed charge per train mile. REVENUE. The receipts for the half-year ended 31st December, 1875, were 5,179, and the expenses 4,876., leaving a profit of 3037. For the half-year ended 30th June, 1876, the receipts were 4,512., and the expenses 4,091., showing a profit of 5211. The balance against the net revenue account at 30th June, 1876, was 19,3017. CAPITAL.-The expenditure on the line to the 30th June, 1876, amounted to 615,7701; the receipts to the same date having been as follow: No. of Directors (as settled by act of 1870), 6, viz.:-2 elected by A debenture stockholders; 2 by B debenture stockholders; and 2 by shareholders; quorum, 3. Qualification, 5001. of the respective stocks. DIRECTORS: Chairman-The Right Hon. Lord ERNEST BRUCE, M.P., 6, St. George's Place, S.W. Robert Amadeus Heath, Esq., 31, Old | Lachlan Mackintosh Rate, Esq., King's Walter Amos Michael, Esq., 60, Thread- Henry James Sheldon, Esq., Brailes House, OFFICERS.--Sec. and Gen. Man., J. Wilson Theobald, 8, Union Court, Old Broad Street, E.C.; Traffic Supt., George Porter, Towcester; Engs., Charles Liddell, C.E., and Edward Richards, C.E., 24, Abingdon Street, Westminster, S.W.; Solicitors, Bircham and Co., 46, Parliament Street, Westminster, S.W., and 60, Threadneedle Street, E.C.; Auditors, Albert D. Michael, Great Winchester Street Buildings, E.C., and Alfred T. Bowser, 58, Moorgate Street, E.C. Offices-8, Union Court, Old Broad Street, E.C. NORTH WALES NARROW GAUGE-NORTHERN AND EASTERN. 289 270.-NORTH WALES NARROW GAUGE. Incorporated by act of 6th August, 1872, to construct a line (23 miles), called the "general undertaking," from the Croesor and Portmadoc Railway to Bettws-y-Coed; a second line, called the "Moel Tryfan undertaking" (5 miles); and a third (74 miles) from Llanwnda, Carnarvonshire, to Llandwrog and Beddgelert. Capital, 150,000. in 107. shares for the general undertaking and 66,000l. for that of the Moel Tryfan. Shares to be distinctively separated. Borrowing powers, 50,000l. for the general undertaking and 22,000l. for Moel Tryfan. Gauge, 2 feet. Agreements with the Festiniog, and Croesor and Portmadoc By act of 16th June, 1873, the company was empowered to lease to Mr. Hugh Beavor Roberts, of Bangor, its Moel Tryfan undertaking, for 21 years, at a fixed minimum rent of 6 per cent. per annum on the share capital, with extra rent by participation in profits over 6 per cent. from time to time in proportion to the traffic. By act of 13th July, 1876, the company was authorised to abandon the "general undertaking," and to raise 40,000l. additional capital for the purposes of the Moel Tryfan Line. Further borrowing powers, 13,300%. Through the insufficiency of the capital subscribed the works still remain in a very incomplete state. Vigorous measures are now, however, being taken to obtain the requisite funds, and if these are successful the line may be completed during the present year. At a meeting held in August last, Mr. Beavor Roberts, the lessee of the line under the act of 1873, stated that he considered the lease no longer binding. The directors are advised to the contrary, but as the interests of the company may best be served by the cancellation of the lease some arrangement may probably be made to that effect. Mr. Roberts states that if the lease is given up he will, until the line yields a revenue of 10,000l. a year, pay double rates on all slates carried from his quarry. NEW CAPITAL.--At a special meeting held on the 17th August last, the directors were authorised to issue the whole or any part of the capital authorised by the act of 1876. The board accordingly resolved to issue 2,000 shares of 107. each, with a preferential dividend of 6 per cent. per annum, and to offer the same to the existing shareholders. As the shares carried no dividend for twelve months, they were offered at a discount of 10 per cent. CAPITAL.-The receipts on this account to 31st December, 1875, amounted to 79,9757., of which 65,9751. was by shares and stock and 14,000l. by loans. The expenditure to the same date amounted to 71,8757., leaving a balance on hand of 8,1007. Meetings in March and September. No. of Directors-7; minimum, 4; quorum, 3 and 2. Qualification, 2507. DIRECTORS: Chairman-Sir LLEWELYN TURNER, Parkia, Carnarvon. Sir Richard Lewis Mostyn Williams Henry Hill, Esq, 30, Queen Street, Bulkeley, Bart. Chaloner W. Chute, Esq., 23, Old Square, Lincold's Inn, W.C. Cheapside, E.C. OFFICERS.-Sec., Henry Watts; Eng., Charles E. Spooner; Auditors, John Gane and W. A. Michael, Offices-60, Threadneedle Street, E.C. 271.-NORTHERN AND EASTERN. Incorporated by act of July, 1863, for construction of a line commencing from a junction with the Great Eastern, at Stratford, 4 miles from London, and terminating at Newport, with a branch to Hertford. Total, 44 miles. The line is leased to the Great Eastern for 999 years under Parliamentary powers obtained in 1844, at 5, and a portion at 6 per cent., with half profits when Great Eastern reaches the former amount. Dividends on shares, guaranteed 5 per cent. per annum, 17. 58. each; on shares of 507. guaranteed 6 per cent. per annum, 17. 10s. each. U CAPITAL. The receipts and expenditure on this account to 30th June, 1875, were stated as follows: The accounts are made up to 30th June and 31st December, and the half-yearly meetings (for the declaration of the dividend) are held in London on or before the 21st February and 21st August in every year; the transfer books close a fortnight previously. Scale of Voting.-One vote for each share up to 20; then one for every 5. Certificates of shares need not accompany transfer deeds. Registration fee, 2s. 6d. each deed. No. of Directors.-Maximum, 12; minimum, 12. Qualification, 1,0007. DIRECTORS: Chairman--The Honourable RICHARD DENMAN, Westergate House, Arundel. Deputy-Chairman-MATTHEW FLOWER, Esq., 14, Norfolk Crescent, Hyde Park, W. Lord Eustace Cecil, M.P., 32, Eccleston | Thos. Longueville Longueville, Esq., Square, S.W. Robert John Bagshaw, Esq., Dovercourt, William Dent, Esq., 37, Great Tower John Pemberton Heywood, Esq., Banker, Right Hon. T. Milner Gibson, 5, Hyde Oswestry. John Remington Mills, Esq., Kingswood Joseph Trueman Mills, Esq, Clermont, John Vigne, Esq., Tokenhouse Yard, E.C. One-sixth of the directors retire annually, and are eligible for re-election. August meeting fills up vacancies. OFFICERS.-Sec., William Bourne; Solicitors, Markby, Tarry, and Stuart, 57, Coleman Street, E.C. Offices Liverpool Street Station (Great Eastern), E.C. 272.-NORWICH AND SPALDING. Incorporated by act of 4th August, 1853, for a line from the Great Northern, at Spalding, to Holbeach. Length, 16 miles. Capital, 170,000l.; borrowing powers, 56,0001. By act of 13th August, 1859, the company was authorised to extend the line from Holbeach to Sutton Bridge. By an act passed in 1865, this company, or any company working the line, has running powers over the Peterbro', Wisbeach, and Sutton, from Sutton Bridge to Wisbeach. Under an agreement by which the Great Northern and Midland work the line, the company is secured a minimum net rent of 7,000l. a year, with half surplus profits beyond this sum. REVENUE. The amount received for the half-year ended 31st December, 1875, from the Midland and Great Northern, was 3,5007., whilst the general charges were 541., giving, with the balance of 1521. from previous half-year, a total net revenue of 3,6007., which was applied to the payment of interest on loans and debenture stock, and a dividend on the ordinary stock at 2 per cent. per annum, leaving 117. to carry over. The gross receipts for the half-year ended 30th June, 1876, amounted to 3,5011., of which 3,5007. was from the working companies, and 11. from transfer fees; the general charges amounted to 887., and the net revenue, including balance from previous half-year, to 3,423'. Interest on loans and debenture stock absorbed 1,260., and dividend on the ordinary capital at 24 per cent. per annum, 2,1257., leaving 387. to be carried forward. 291 NOTTINGHAM AND GRANTHAM-OLDHAM, ASHTON, ETC. CAPITAL.-The receipts on this account to 30th June, 1876, were as follow:Ordinary stock, 170,000.; debenture stock at 4 per cent., 56,000.; total, 226,000, being the amount of the expenditure to the same date. No. of Directors.-Maximum, 10; minimum, 10; quorum, 3. DIRECTORS: Qualification, 25 shares. Chairman-CHARLES WARING, Esq., Norfolk Street, Park Lane, W. William Waring, Esq., Prince's Gardens, Robert Arthur Read, Esq., The Elms, Hyde Park, W. Wimbledon Hill, S. W. OFFICERS.-Sec., Howard Lankester, 2, Westminster Chambers, Westminster, S.W.; Bankers, The Imperial Bank, Westminster, S. W. Mosley, and Co., 62, Moorgate Street, E. C. Offices-?, Westminster Chambers, Westminster, S.W. Accountants, Mardon, 273.-NOTTINGHAM AND GRANTHAM. (LEASED TO GREAT NORTHERN.) Incorporated by 9 and 10 Vic., cap. 155, for construction of a line commencing as pro jected, in conjunction with the Midland, and in continuation thence of the Manchester, Buxton, Matlock, and Midlands Junction, at Ambergate, and terminating in conjunction with the Great Northern, at Spalding, with branches to Sleaford and Boston (90 miles); but, by resolution of general meetings, it was determined to confine all operations to a line from Grantham (where a junction is formed with the Great Northern). The portion in operation is 23 miles, viz., from Grantham to Nottingham. Under act of incorporation, this company had agreed to purchase the Nottingham Canal for 2257. in cash, or nine railway shares of 251. each, paid up; and the Grantham Canal for 1007. in cash, or five railway paid-up 257. shares for each canal share. By act of 15th May, 1860, the name of the undertaking was changed to "Nottingham and Grantham,' the capital reduced to 1,014,000l. in lieu of 1,056,2507., and of the borrowing powers from 358,3337. to 265,0097.; various provisions for consolidation of shares into stock, and for regulating the transfer thereof, were also made. The line has since been leased to the Great Northern for 999 years, at a rental of 41. 2s. 6d. on a capital of 1,014,0007., with a right to the Great Northern to purchase the undertaking at par. The rent is regularly paid, and the dividends declared half-yearly. The borrowing powers are exercised by the Great Northern. No. of Directors.-Maximum, 9; minimum, 5. board, 5, receiving 3007. a year. DIRECTORS: Qualification, 1,0007. Present Chairman-RICHARD SEPTIMUS WILKINSON, Esq., 3, St. Mildred's Court, Poultry, E.C. Deputy-Chairman-JOHN FOWLER BURBIDGE, Esq., St. Peter's Hill, Grantham. Edwin Henry Laurence, Esq., 11, Angel OFFICERS.-Sec., Henry Lasalle, Nottingham; Auditors, T. H. Stapies and Henry Armstrong; Solicitor, John Thompson Brewster, Nottingham; Bankers, Hardy, Johnstone, and Hardy, Grantham. Head Offices-London Road Station, Nottingham. 274-OLDHAM, ASHTON-UNDER-LYNE, AND GUIDE BRIDGE Incorporated by act of 10th August, 1857, for the construction of railways to supply direct communication between these places. Capital, 140,000l. in 107. shares; loans, 46,600. The length of first railway is 4 miles and 7 yards, commencing by a Junction of the Oldham Branch of the London and North Western, at or near the Oldham Station, and terminating by a junction with the Ashton and Stalybridge Branch of Lancashire and Yorkshire; length of the second is 1 mile 3 furlongs and 17 yards, commencing by a junction with the Ashton and Stalybridge Branch of Lancashire and Yorkshire, at Peccatties, and terminating by a junction with Manchester, Sheffield, and Lincolnshire, at Guide Bridge; the length of the third is |