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---....------THE PURCHASE…

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THE PURCHASE OF THE BUTE DOCKS. THE OFFER OF THE BARRY PROMOTERS. TIlE REPLY OF IJORD BUTE. Hie following correspondence has been handed «s for publication by Messrs Downing and the solicitors to thy promoters of the rry Dock and Railway scheme — THE OFFER OF THE BARRY PROMOTERS. Cardiff, 27th February, 1884. Dear Sir,—Our clients, the promoters of the Dock and Railways scheme, have had further consideration the evidence "given the parliamentary committees last year on behalf of the Marquis of Bute, and especially the ^tement that the rate of interest derived by his "Wdsliip from the Bute Docks over a period of 27 years amounted to £ 3 Is fid per cent., "ailst his lordship was then paying 4! per cent. interest upon a loan of f 550,000. They have also considered the argument of is lordship's counsel, that should parliamentary "Action be criveu to the Barry Dock and Rail- ways scheme, there might be an absolute transfer to that dock of the trade for which bis lordship s Undertaking was designed, and wo find that "milar arguments are suggested in the petition the Marquis which has been presented against the Present bill. „ Our clients having full confidence that there is 110 ground for such apprehension, have instructed Us to submit for your consideration the following proposition, viz. :— That if the Marquis of Bute withdraws his opposition to the preamble of the bit!, and the same receives the Royal assent, the Barry Com pany, incorporated by the bill, shall be placed 1Inder obligation not to open the Barry Dock tantil they shall have purchased and taken over the Bute Docks undertaking upon the terms sent herewith. Provision would be made for securing to the various interests concerned in the mangement of docks an opportunity of representation upon *™e board of management. In making this offer the promoters of the Barry heme must be understood in no way toadmit J*a_t the Bute Docks can possibly be affected by scheme, or that the Marquis of Bute or his r^tees have any Parliamentary locus standi or *t0U0ds for opposing the same.—Yours truly, DOWNING & Hand COCK. •k* V. Shirley, Esq. rn TERMS OF PROPOSAL. Purchase his lordship's Bute Docks, works, j.. dock undertaking, as defined by statute, and 1 neated and described in the particulars and sent herewith, at a sum representing the Ui*l capital expenditure of his lordship in works upon the same, plus the value all i ^lne °f taking over the undertaking of *cc°motives, wagons, trucks, dredgers, es' Reamers, and other moveable plant li«o. ^^rials used in the maintenance and work- » fi of the docks, the amount of such valuation to ertained by an independent valuer to be uPon by both parties (in case of failure to K*; l1Pon a valuer, the president for the time boin? Institute of Ci viJ Engineers to ap- snch vainer), it being understood that the ainount does not exceed the figures given m nee last year. Purchase money (at the option of his lord- P) to be either paid in cash, or the purchasers -guarantee, by means of debentures or mort- •JTjf? the docks, interest at the rate of four per Per annum upon the whole of the purchase ^jVOey or npon such portion thereof as his lord- If decide not to receive in cash. °Ption not to receive any portion of the rchaso money in cash be exercised, the pnr- (if required) to further secure the jj °f interest thereon by a mortgage of the rry Dock when opened for traffic. th«Q Edition to the aforesaid purchase money, Purchasers to pay to his lordship or his r™st«es an annual sum of £ 15,000 by way o%round for the land upon which the undertaking t j Works of his Lordship are situate, including rrl Lordship's interest in all the lands coloured ^L°n the plan herewith. ■jAhe purchasers undertako to construct the ^arry Dock and Railways if Parliamentary "auction be obtained for their scliomo. His lordship to assist the purchasers in obtain- '?? further dock accommodation in the vicinity of al'diff when required. The amount of capital expenditure on the Partial construction of the New Roath Dock up 1X1 time of transfer to be included in the purchase and the purchasers to take over and cora- same as expeditiously as possible. ha anc* as 800n iis Sa^ BarrV Company shall let the contract for making their dock, and •niT? a snm of not less than £ 350,000 actually Ascribed in respect of their capital, they may Ppoint an engineer to supervise all works and ex- J^diture in connection with the Bute Dock and all such works and expenditure be subject to his approval and according to approved by him.. vendors to keep and maintain all doclre, ^5**8, and dock undertaking aforesaid in a good, r^c.eat, and workable state of maintenance, and IJPa^r up to the date of completion of the par- *»««, and in default a fair allowance in respect of Want of such maintenance er repair to be J»!e *° the purchasers.. The Marquess of Bute or his successors, so long any money shall remain doe to him or tbtu. •Pou the security of the docks, to be reserved the *°»er of nominating one director or member ot *Oy board upon whom the management of toe 1indertakinlr may be conferred. If and so far as further Parliamentaryauthonty required to give effect to the proposed wrani^ the purchasers at their own expense take the necessary steps to obtain it, the Marquess to I "eiat in obtaining soch sanction. PAKTICULABS ATTACHED TO PLAN. All the docks, dock works, piers, landing •tages, graving docks, reservoirs, timber floats, **jlways, sidings, sheds, rights to foreshore, pre- mises, and appurtenances thereto, more particu- larly delineated on the plan herewith, together *ith ail warehouses and buildings thereon, and staiths, wharves, cranes, boilers, engines, .11t, buoys, mooring materials, and all other machinery and appliances in and about the and all rights, easements, powers and P"V1" *^jes relating thereto or conferred upon the Mar- quess of Bute and his predecessor in title, or their or his trustees, by any statutory provision, agree- ment, or otherwise. The fresh water feeder and weirs, and all rights 8f water statutory or otherwise appertaining thereto, with rights of navigatian thereon, and access thereto, and reasonable powers of using eQeh portions of the banks thereto aajnay be J*ecessary for the cleansing, maintenance, and beneficial uses of the same as a feeder to tlie docks. All rights of control, dredging or otbe^hts ottr the cutwav and channel leading thereto, approaches to the docks or w°rfe, sUtutoi^ or Setwise. The statutory runningandotberpowers jJ^ferred by agreement or othenvi^ upK.n ^^•rquess, his predeoessors, or his or their tru 0vf, the Jthynjney or other railways. All rights, powers, and privileges over or m J^ien to all other railways, corporations, and f^ons whatsoever, now enjoyed or uwa ny and his trustees in relation to their rSt Property. • *J-he leasehold rights of the marqness and ms ry^ees recently acquired in the Glamorgan « °al, or any canal, dock, or works connected ^ewitb. v All sLitutory powers and privilege that may 'be acquired by the marquess or his trustees by Jve .prosecution in Parliament of the Bute Water Bill or any other schema in the session ot Parliauieut (subject to the J^jent of costs of obtaining same). dr«TI locomotives, railway wagons, trucks, ^jdgers, hopper or other barges, tugs, steamers, water tanks, and boats used in the mam- tk?^Vce> working, and carrying on of busmess at CT. «ute Docks, the capital expenditure upon may have been debited to Bute Docks £ *1 account. ^uildiugs, the capital cost or expenditure jP°n which may have been debited to the Bute capital account. 1'he purchase to include the whole of the rents, ^Rfcte, and privileges of the Marquess, his suc- ^Sors, or trustees of, in, and about all the Jfsuiises, and the purchaser to take over all Stations of the vendors relating thereto, and to gfoanify the Marquess or this trustees and hie or successors tJberefroiB.. The purchasers to liave the right to aoiuire y>Q equitable terms a sufficient quantity of, land adjacent to the docks for future extensions, and for public works or manu- iv qui red in connection with the import g^her tnwltts at Cardiff, such fend to be de- Tk npon a plan hereafter to be agreed opoo. Irh^i Particulars are intended to comprae the of the docks, works, machinery, plant, •Od ^P''a'»ces, taken over as a going coocero, |i^_Very thing connected therewith which should be included in such a purchase as pro- tioriK And this description may require audi- Ca»°v alterations in detail. diff, 27th February, 1884-. LORD BUTE'S REPLY. Cardiff, 9th April, 1884. v ^With reference to your letter of the ^hal;ebrUary. an(i its accompanying proposal on the promoters of the Barry Dock and j ^j.VVay ^heine to acquire the Marquis of Bute's ^ndertaking, I have to acquaint yon that Rnd tl,e trustees have given their most c°nsideration to the proposal, and in reply letter I am instructed to say that, while "itQ u S¥p and the trustees are deeply impressed 13 '^Porfcance of placing the whole subject ^icl* relatinR to the Bute Docks upon a footing Wl11 be satisfactory to all the interests con- *ot, j }}>ey regret that the present proposal does heir judgment, seem fitted to meet that into details as to the extent of °ck, aurf 8'10nld be included in a transfer of the the terms, &c., &c., Lord Bute has in- I w^rve to ad vert specially to tlie two following j ^rdiffCall in the interests-of the port and town > a8d tie cvmm&tciai iaioieatu io con- nection therewith, and more P^ticukrly of Ins lordship's tenants who have invested la g in various uncf^Ukings which are inseparably bound up with the Bute Docks, render it impos- sible for him to accede to the proposal, i.e.- 1 That the transfer should be made to a com- pany composed of only a limited number of freighters, aud 2. The condition that the Barry Dock should be constructed As to the first, his lordship and tha trustees are of opinion that, if t!1e Bute Docks are transferred from the present owners, the transfer should be to a. public trust established upon a broad basis, in which all the various interests should be repre- sented, and the property held and carried on for the benefit of the district, and so as to afford such increased facilities and accommodation as from time to time may be required. f With reference to the second point, Lord Bute and the trustees consider that the construction of the Barry Dock would be most prejudicial to the interests of Cardiff and the district, and that if at any time hereafter additional dock accommoda- tion be required the most suitable place for further docks would be in the immediate vicinity of the existing docks at Cardiff, for which ample provi- sion can be made. For these, among various other reasons, i Bute and the trustees are not prepared to enter- tain the offer made on behalf of a section of the traders; and they feel that a transfer could not be made either in justice to themselves and to Lord Bute's successors, or upon a footing satis- factory to those by wiiurn the money would be found to carry out the purchase, until the Roath Dock is completed, opened, and at work for a sufficient period to enable the capacity of the whole dock property to be fairly ascertained. It is, therefore, manifestly impossible at present to fix either the value of the property or the extent of land required to be included, and the various other terms upon which an under- taking as yet only partially developed should be transferred even assuming that the parties identi- fied with the various interests in the district were desirous of forming suchatrustas herein indicated. It has been suggested to the Bute trustees that such a scheme, in order to be a complete one in the interests of all the collieries, iron and steel works, and the general traders both of the eastern portion of Glamorganshire and the Mon- I mouthshire coalfield, should be placed upon such a basis as may embrace such other existing pro- perties, both dock and railway, as may wish to be associated, it being considered, in the opinion of many competent to judge, that by such an amalgamation an end would be put to the un- necessary rivalry and perpetual contests in Parliament as to schemes believed to affect different interests, and also by such consolidation secure to the freighters and traders generally the best facilities for dock and railway traffic upon the most economical terms. If, when the time comes, such a large scheme meets with the approval of those who are interested in tha district, Lord Bute and the trustees believe they would be able to concur, in consideration both of their own direct interest in the matter and of the benefits secured to those possessing large collieries and other works, which are so largely dependent for their success upon having the best dock and railway accommodation. -Yours faithfully, L. V. SHIRLEY. Messrs Downing and Handcock.

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