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SHREWSBURY AND HEREFORD RAILWAY…

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SHREWSBURY AND HEREFORD RAILWAY BILL. (Continued from the third page.) HOUSE OF LORD S.—WEDNESDAY. When the committee re-assembled this morning Mr. Merryweather, addressing thdr Lordships, said: I have a few words to say before we proceed further, which I think will not be unacceptable to the committee. Since the adjournment of yesterday we have had a con- sultation to consider the position of the case as it stands upon the evidence already adduced, and having looked through the notes of the cross-examination of Mr. Robert- son, I am happy to say that we have no questions to put to him in the way of re-examination, but I propose simply to put him again in the box in order that your Lordships may put to him any questions you may think necessary. I may further add, that we are content with our case as it now stnnds, and do not propose to trouble the committee with any further evidence. The Chairman Then do I understand that your esse is closed ? Mr. Merryweather Yes, my Lord-this is our case. The Earl of Sligo (to Mr. Robertson) Do I under- stand that it is necessary for you to have an Act of Par. liament in order to obtain running powers? Cannot you obtain them by consent ? The witness was not allwoed to answer the question, but The Chait man ordered the room to be cleared, and the committee remained in deliberation with closed doors for nearly an hour. Upjn the re-admission of parties, Mr. Robertson was recallei and questioned by the committee. Q. You stated yesterday that you had £ 100,000 of unexhausted capital?—A. Yes. Q. Does that arise from share capital not paid up ?— A. Yes, frum share capital not called up. Q. Perhaps you will give us a short statement of the financial affairs of your company ?-A. The entire au- thcrised capital is 1900,000. Q. Is that share capital ?-A. No, share capital and loans together. 1225,000 of that amount is borro.ved. Q. That leaves your share capital at ;C675,000-how much of that is called up ?-A. I think there remains somewhat about LIOO,000 of the share capital not called up. Q. You stated yesterday that you considered a full plant to work the Shrewsbury and Hereford line would involve an expenditure of X200,000 ?-A. Yes, it would cost that to plant the line, as a Shrewsbury and Hereford hne, and to work it down into South Wales. Q If you determined to work the line yourselves, how would you raise that capital ? —A. We should have to go to our shaieholders to raise it by preference shares. Q. How much will it cost to double the rest of the line ?-A. Between £ 60,000 and £ 70,000. Q. It is doubled over a great part of it ?—A. Yes, to Ludlow. The cost of doubling the rest would be about £ 3,000 a mile, which, with the sidings and station ac- commodation, will be about X60,000, or a little more for the 17 miles which remains to be doubled. Q, la Mr. Brassey's contract for working the line sanctioned by the Act of Parliament?—A. Yes. Q. Is it necessary to have an Act of Parliament to sanction a working agreement in all cases ?-A. No, not in all cases-but a working agreement between two companies must be sanctioned by Parliament, to be binding. Q. A lease may be granted by one company to another without an Act of Parliament ?-A. No, it would not be binding, and if either party chose to dispute it, the con- ditions could net be enforced. Q. You contribute a certain sum to the Welsh Central r-A. Yts, £ 30,000. Q. That is not uncer an Act of Parliament ?-A. No it is merely an understanding. Q. Is that binding ?-A. It is binding so far as that we undertook to contribute a sum, but not as to any specific amount. The Chairman (Duke of Richmond): If this bill should not pass what would be the effect as to that con- tribution ?-A. There would be no positive obligatiin upon the Shrewsbury and Hereford to subscribe. There was a resolution of the Board to subscribe so much, but nothing more, and no amount was positively fixed. The Marquis of Sligo Can you bind yourself with- out an Act of Parliament to a working agreement for ten years ?-A. No, but we could exchange running powers eventually. Q. But could you not make an agreement with Mr. Brassy, for instance, to work the line for ten years ?-A Not without an Act of Parliament. The Marquis of Sligo: I know a line where an agree- ment exists to pay so much a year; and there are others where they give so much rer cent. on the receipts for working ?-A. That might be done with an individual, but not with a company. Q. But if you made an agreement with an individual could not he assign it over to a company?—A. 1 do not think any company would be satisfied with such an assignment. Q. If you made an agreement with Mr. Brassy to work, the line could be not assign it over to the London and North Western ?-A. I don't think he could. Q. How long could you make an agreement for Working agreements are restricted generally to ten years, at the end of which the Board of Trade has powers of revision. Q. Could you make a working agreement with the South WaLes ?-A. No, not without an Act of Parlia- ment. Q, \Vhat is the price of your shares now in the market ?-A. I am told that the £ 100 stock stands at about £132, but I have not bought or sold any myself. They have been rising gradually for some time past. Mr. Burke then proceeded to open the case in opposi- tion, on behalf of the Great Western, inquiring that the bill was wholly unnecessary, and was brought forward not with a view to public advantage, but merely to put money into tue pockets of the Shrewsbury and Hereford shareholders, and after going through the history of the Shrewsbury and Hereford line, and of its relations with the Great Western, contended that the bill was prom-icd practi- cally by the North Western to get posse= >n of the district against the interests of the Great W estern and West Midland systems, to whom it naturally b, longed. The proposal that the Great Western should guarantee six per cent. to the Shrewsbury and Hereford in the event of the amalgamation, was rather hard upon the Great Western. The Shrewsbury and Hereford was an independent line, and it was possible that it might earn that rate of dividend, but it would be hard to compel tbe Great Western to pay it, whether it was earned or not. But all these matters it would be time enough to eonsider when the bill for amalgamating tl-o Great Western and West Midland system was before Parlia- ment. The public interest required free competition in the conveyance of the mineral traffic, open competition could only be carried on in that description of traffic at extremely low rates yet they were told by Mr. Robinson that heavy traffic, as coals, for instanep, which paid only a h,.)f ptuny a mile distance, was of no account, and that it would be wotth the while of the Great Western and West Midland if they had the con- trol in their hands, to send minerals destined for Liver- pool, round 31 miles by way of Worcester to get to Liverpool, instead of carrying it by the shorter route through Shrewsbury. That was altogether unlikely. But they had the evidence befo e them, that Birkenhead was the port to which the great bulk of the mineral traffic from South Wales went. Between Cheater and Birken- head the line belonged generally to the Great Western and the North Weste n. and e"ch would of course en- deavour to obtain its share, and as regarded the rate, it must always be governed by the sea rate, and each of the competing companies upon the basis of that rate would do its bes to ilevelope the t'affic from the mineral districts upon that line. And yet they were asked to believe that it would make no ditFeience to the Great Western to carry round their traffic 30 or 31 miles further than was necessary. It was urged on the other side that without this bill, the Great Western and West Midland would amalgamate, and that i' would be their interest to divert he I ffic fro n t e iiv rt to the long alJd round-a- bout route-but curtly it was time enough to put for- ward that argument wlien the amalgamation was before Parliament. 'i he London and North Western were playing a clever game in this matter, but upon the evi- dence they had themselves biougbt forward, he appealed to the Committee to Bay whether it was a justifiable one. Supposing Pailiauient were to permit the amalgamation between the Great Western and West Midland, what ground was there for saying that the traffic would be diveited from the Shrewsbury and Hereford- The clause which bad been introduced in the House of Commons in reference to the proposed amalgamation was intended to prejudge the question, and bad not, as he believed, originated with the Chairman of Committees. But Mr. Robinson had admitted that the Great Western, whether amalgamated or not, should have the free use of the line, and that being so, by should they doubt that when the amalgamation bill came to be considered, Parliament would do full justice to all Ithe interests concerned. The Shrewsbury and Hereford would be entitled to be heard upon the amalgamation bill, and then would be the time to urge their clauses and to object to the passing of the act if their rights were not duly regarded. Therefore, he said, that they were premature to ask for Pi. li mentary interference on their behalf before they were threatened with any injury. With regard to the West Midland he should rernaik that as the Oxford, Worcester, and Wolverhampton, it was originally a part of the Great Western scheme, and had been originated in Great Western interests I' was therefore not an amalgamation of new interests, but of old interests associated from the commencement in one common object an i one common system. On public grounds, as well as private grounds he called upen the Oomaiittee to throw out the bill which was presented not for any object of public convenience, or public good, but merely to put money into the pockets of private individuals. Mr. Saunders, Secretary of the Great Western, was then called, but before any question was put to him a consulta- tion took place between the learned council, at the end of which Mr. Burke asked that the proceedings might be suspended, in order that Mr. Denison, Q.C., who was not present, might be consulted. This was assented to, and Mr. Burke and other learned gentlemen left the room. On their retain, Mr Burke said We have, during our short consulta- tion, made an approach towards a result. There has been something like a proposal made, but I do not know what it will corne to. Our ohjection to the bill remains the same, but at the same time if terms can be arranged satisfactorily we are not disposed to reject them. I would under the ciicumstances, ask the Committee to be good enough to adjourn the proceedings till to-morrow, in order to afford us an opportunity of ascertaining whether we can come to an arrangement. Mr Merryweather The proper way to put it is that upon mutual consideration we find the difficulties is not so great between us as would justify our asking your Lordships to go on with the enquiry at this moment. We have approached towards a result, and we hope, if the op- portunity is afforded to us, ofa little further consultation, that we may approach it still nearer. Mr. Somerset, as representing independent interests, while entirely unconnected with either of the Companies represented by his leirnal friends, cl:Lirag I tha riht of continuing his opposition if he should be dissatisfied with the arrangements to which he, of course, could be no party. The Chairman admitted the learned counsel's right to be heard, and adjourned the Committee to the following day. THORSDAT. At the meeting of the Cominit es this morning, Mr. Merryweather said that since the adjournment yesterday the representatives of both parties had met, and the result of their deliberations was that an arrauge- ment had been come to by which both the Great Western and West Midland Companies would be admitted to the lease of tbe Shrewsbury and Hereford, as well as the London and North Western, and from the disposition of both sides to accommodate the matter he had no doubt that the arrangement miht be sasisfactorily carried out. Suppose any difficulty should arise which, however, he did not anticipate, the several parties would, of course, retain the precise position in which they stood before the arrangement was made. Mr. Serjeant Wrangh m, on the part of the Great Western, confirmed his learned friend's s'atement as to the arrangements, which he said would have to be reduce to a more formal shape and be added as a schedule of the bill, It would be necessary that the shareholders of the Great Western and West Midland should be consulted, and their assent obtained, therefore the agreement was at present only conditional, but he did not anticip ite oppo- sition on the part of the sharehol lers of either Company, The meeting of shareholders would be called with all dis- patch, but the procetit) ings of the bill need not be delayed for that, for tbe agreement woal I be drawn so as to make it contingent upon the sliarchol,ierw assent beingobtained. Mr. Merry wether And if thit assent should not be obtained we shall procee I with the origin d bill. Mr. Somerset claimed to go on with his case on the part of the Wenlock Company, which he said, would be placed in a worse position by this agreement than it was under the original bill. Sergeant Wrangham said that the fullest assurance would be given to the Wenlock Co np iuy that they would have the fullest an,1 most aruple facilities so far as Great Western and West MidUnd traffic was concerned. Mr. Merrywether sail that as the Great Western and West Midland were to come in upon equal terms with the London and North Western nothing would be altered as regarded details in reference to the Weulo-k and other subsidiary lines, but suggested if his 1=) irned friend had any objections to offer he should make them now. Mr. Somerset could scarcely understand any arrange- ment that would be beneficial to his company under the altered state of things. The Great Western had offered terms, but now there were other parties to be consumed. If the North Western are prepared to concede the same terms he should be satisfied. A parliamentary agent, who was watching the case for the Tenbury Compauy, said that his clients had not opposed the preamble as it originally stood, but this new arrangement completely altered the preamble as to the objects of the bill, and be claimed, if necessary, to be heard by Counsel against it. Meanwhile he applied to the committee to postpone the further consideration of the case, that his clients might have an opportunity of deter- mining how this new aspect of affairs would affect them, and what course they should take in consequence. Mr. Sergeant Wrangham remarked that the wording of the preamble would not be altered. After some consultation, the room was cleared, and upon parties being re-admitted The Chairman announced that the committee had de- termined to adjourn the further progress of the casD til Monday next.

TRIAL TRIP OF THE "AVON" SCREW…

WHAT ARE THE PREROGATIVES…

ABERSYCHAN.

ABERGAVENNY.

MONMOUTH.

I THE LUDGATE HILL TRAGEDY.

THE HENDON MURDER. --+---

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INQUEST.—VERDICT OF WILFUL…

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ILONDON CORRESPONDENTS LETT…

HOUSE OF CO VI MO MS.—WKDNE3DAY.…

TO THE PRINCESS ALICE.

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