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LIGHT RAILWAYS FOR CARDIGANSHIRE.…
LIGHT RAILWAYS FOR CARDIGAN- SHIRE. THE LAMPETER- ABERAYRON SCHEME. Government Inquiry. Interesting Evidence. COST OF UNDERTAKING AND LOCATION OF STATIONS. A Move in Carmarthenshire. Something definite in the promotion of the much-talked of scheme for a railway from Lampeter to Aberayron was achieved on Tuesday last, when an enquiry was held at the Town Hall, Lampeter, by the Light Rail- way Commissioners, into an application by the promoters for an order to authorise the construction of the said light railway. The application was made under the Light Rail- ways Act, 1896. The proposed railway will be 13i miles long, and the cost of construc- tion is estimated at £ 88,277. The Commissioners were Colonel Boughey, R.E., C.S.I and Mr. Henry Allen Steward, with Mr. E. Welby-Everard as acting secre- tary. There was a representative attendance of those interested in the project, and of the general public; amongst those present being Colonel Davies-Evans, (Lord Lieutenant of the County), Mr. Delme Davies Evans, Highmead; Mr. J. C. Harford, Falcondale; Captain Herbert Vaughan Brynog; Mr. Inglis Jones, Derry Ormond; Major Pryse Lewes, Mrs. Lewis, and Miss. Lewis, Tyglyn Aeron Miss Lewis, Llanlear; Dr. Hugh Walker, Lampeter; Mr. Lewis Bowen, agent for the Llanaeron Estate Mr. C. Denham, Evans, solicitor (agent for the mortgagees of the Monachdy Estate), Mr. B. C. Jones, clerk to the Aberayron Board of Guardians; Alderman J. M. Howell, Counr cillor E. Lima Jones; Councillor E. Hughes Davies, chairman of the Aberayron r rban Council; Councillor J. T. Evans; Mr. J. Davies, Feather's Hotel; Mr. John Evans, merchant, and Mr. Thcmas Pugh, Paris House, Aberayron Councillor J. Jones, Cwm- ere-, Mr. J. Jenkins, "Rural District Surveyor for Aberayron Rev. T. P. Lewis, vicar o Silian; Mr. J. Jenkins Blaenplwyt; Mi. i. Jenkins, C.C., Mr E. Mathias, cattle drover; Mr. Pritchard, agent for the Falcondale Es- tate; Dr. Davies, Llandyssul; Mr. Edward Jones Pontfaen; Mr. D. Price Jones, Rhyd- veof Mr. E. H. Formby, Glandennis; Mr. John' Jones, Tyrilloft; Mr. Thos. Jenkins, Bronfre; Mr. Thomas James, Pontfaen; Mr. David Jones, Cwmmane; Mr Thomas Davies,, Dremddufawr; Mr. Joseph Davies (Mayor of Lampeter); Councillors Chas. Evans, Timothy Richards, Lampeter; Mr. T. L. Davies, Fair- field, Lampeter, etc. Mr E. W. I Paterson, solicitor, London, appeared on behalf of the promoters. The engineers are Messrs. S. W. Yockney and A. L. Yockney. Mr. C. W. Szlumper said he appeared on behalf of the Manchester and Milford Railway Company only to see that certain clauses were inserted. Mr Peterson, in submitting the applicat- ion to the Commissioners, said it was signed by land-owners in the district,, who were, therefore much interested in it. These were Mr J. C. Harford, Mr. Inglis Jones, Mr. J. E. Rogers, Me. Herbert Vaughan, Colonel Davies-Evans (the Lord Lieutenant), Mr. Jenkin Jenkins, Major Pryse Lewis, Mrs. Ashby Lewis (Llan Aeron), and Mrs. Davies- Evans, who was interested in the Glandennis estate. Mr. Peterson also read a letter from Mr. Henry H. Davies, Rock House Llan- dvssul, through whose property the line wmild go for a distance of about half-a-mile stating that all that lay in his power he would do in promoting this admirable scheme. The line, continued Mr. Peterson, was; to be of^the ordinary guage, and would be 13a ™lles length. It had been taken so fai as it \\as possible in a hilly country, m a direct line. The population of the district to be served was between 6,000 and 7,000. The popula- tion on the actual line of route was 5,193, made up as follows :-Lampeter 2,006, Silian 268, Bettws Bledrws 204, Ciliau Aeron 300 Llanfihanpel Jstrad 91 A™ t erch Aeron 173, Aberayron 1,263 lhe line commenced with a junction with the Manchester and Milford Railway at a point a little to the north of Lampeter Station. It travelled north to Glandennis, where it crossed the main road between Lampetei and Aberystwyth. It then turned a little toward the west, leaving the village of Silian about half-a-mile on the left hand, and pass- ed through a part of the paiish o e vs Bledrws to Blaenplwyf, the residence of M Jenkin, Jenkins, through whose land the rail- way passes for a mile, and who was one of the promoters who signed the application, and was a very keen supporter of the scheme. The highest point on the line was reached by Mr. Jenkins' Farm, and up to that point there was a certain amount of steep gradient. In a railway like this, where the surface had been followed, with the object of not having heavy engineering works, it was necessii-y to have some rather serious inclines, but the engineer would tell them that no ncline ex- ceeded 1 in 40, and that there was no cuive of less than 11 chains. From the up of the hill the line tended a little towards the west, leaving Talsarn onthe right, and descended into the Aeron Valley, it passed ticse to Llanfihangel Ystiad, a large village about half-way between Lampeter and Abelay' on. Leaving Brynog—the seat of Captain Hubert Vaughan, one of the promoters—on the right, it passed through about three miles of his property, and reached in the same cuiot tion, the parish of Ciliau Acron, passing the village about three-quarters of a milt cn the left hand From there, the railway continued in a north- westerly direction to Llanerch Aeron, passing close to L'.an Aeron Park, the residence of Mrs, Ashby Lewis, who was also a keen sup- porter and one of the promoters who signed the application. The line then turned a little more to the north, and ended at a point near the County School at Aberayron. The actual point where the terminal station was to be had not yet been settled; out powers had been obtained to take land so that a terminus could be put up at the most convenient place for the inhabitants of the little town or large village of Aberayron. The terminus would also be at seme point ccn- venient to the fishing harbour which was situated at that place. Taere was no opposi- tiqn to the undertaking. This was the first time he had the pleasure of bringing an ap- plication before the Light Railway Commis- sioners without having an opponent. But everybody in this district seemed to be anx- iuos to have the line made, and there had been hardly any whisper of discord as far as he knew. There had been several persons who had dissented. Mr. Paterson then went on to emumerate the dissents, and the man- ner in which they had been dealt with. The first was Mrs. A. T. Jones, the present oc- cupier of Glandennis House and Park. Mrs. Jones gave no reason for her dissent. He bad made some effort to asceitam what the lady's objections were, and he thought they might be summed up by saying that she would rather have the railway, if possible, a little further away from the house. He had also been informed that her tenancy of the house ceased at Michaelmas next, and, therefore, he did not apprehend that that dissent would weigh very much with the Conmnssioneis. Mrs. Jones was a part owner of the estate or Gla.ndennis, having half a life interest in It with Mrs. Davies-Evans, one of the promot- crs" and at the cessation of these life inter- ests it reverted to a member of Colonel Davies Evans' family, who was also a keen supporter of this undertaking. Mr. Peterson also read a letter from Mr. D. W. Drummond, agent of the estate, stating that the objections had been corrected so far as it was possible to do 8, and lie did not think Mrs. Jones' objec- tions would have a footing ,inasmuch as she was only a tenant, and her lease expired at Michaelmas next, and the owner of the es- tate, Mr. Davies-Evans, was in favour of the scheme. Mr. Drummond, added Mr. Peter- son, was also agent for the Cawdor Estate. The' next dissenter was John Arthur P'ice Jones, tenant of Tynlloft, but an arrangement had been arrived at by which he agreed to withdraw his dissent. There -as a dissent put in after the plans had been considered by Mrs. Mary Jane Lewis, but she haci also w'th- draAvYi on having the matter explained to her. She was afraid they we-^goiog to in- terfere with some water supp-ving Llanllear House. Miss Lewis and Ma.vv* Prvse L° >^is were present, and would confirm h s state- ment c'-at bhey ha* take1? ch steps as would satisfy her. r- James" Davies Pietvll Gvyn, <~Slinu Apron, objected to the scheme ori th • d tnt there ivgp, j» spring v b'ch tl-.f'o"ro:,t w(}lJlrl he interfered with. The r- g' vr-t over it the prlwions day, air* eyp'ie t" 1Î,'1 that owing to a '"eviat'on tl-pr tt.' "( 1 tal- ready they would not gf) fl, He was perfectly satisfied with awl he would witlic.i aw his objection. Nalh- aniel Davies' house also came within the limits of deviation, but they would not go near that. Colonel Boughey: Some of these matterr, will have to be dealt with by clauses. Mr. Peterson: I hardly think that will be necessary because the line goes nowhere near that house. It happens to be within the limit of deviation, but owing to arrange- ments that have since been made with other owners, we must now adhere to a centre line, and under these circumstances we do not go near Mr. Nathaniel Davies' house. The Commissioner: The obvious way of dealing with that is to put a clause in the Order. Mr. Peterson: If the Commissioners wish it" it can be done. Colonel Boughey: The same would apply to Mr. James Davies' case and Mrs. Ashby Lewis certainly wants a clause. Mr. Peterson explained that Mr. Alban Davies was another objector, his property being contiguous to Mrs. Ashby Lewis'. If they put the centre line as agreed with IV rs. Ashby Lewis then Mr. Alban Davies did not object to the way in which they affected his land. He had also called upon Mrs. Margaret Jones, Bryn Aeron, another objector. She wanted them to keep the line as far away from her house as possible, and they had pro- mised that that should be done. As to Mrs. Ashby Lewis' land at Aeron Park, that mat- ter he thought, had been dealt with by the Commissioners' officers in London to a great extent. Colonel Boughey: f We have been told that some arrangements are acceptable to Mrs. Lewis. We do not know what they are, but presume they will be included in the clause. Mr. Peterson: It will be included in the clause to be inserted for her protection. Mr. Peterson proceeded to read a letter received from Messrs. Busk, Mellor, and Co., London, solicitors for the Llanaeron Estate, which contained a reference to the terminus at Aberayron. This, it was stated, could be put either just over the river close to the bridge, or it could be put on the other side of the road—which, possibly would be mere con- venient to the Harbour—on Mr. Alban Wynne's land. He only had one more dissent, aad that waa from Mm. Mary Ann Frances Edwards, who said it would spoil the property for letting purposes. There were no buildings upon the land, and the whole thing resolved itself into a question of com- pensation. He had received a letter from Mrs. Edwards' brother, a barris- ter, who said that as Mrs. Edwards was not a resident, and not likely ever to become one again, it was a matter of indifference to her whether the railway was made or not, and, therefore, he thought it was a matter of the price to be paid for any land in which she had any interest which might be required. Mr. Peterson said the promoters proposed to take the whole of the property,, which was about three acres. The district to be served by the railway was one which he ventured to hope the Commissioners would think was particu- larly adaptable for a light railway. There were parts of it as much as 13 miles from a railway station. The nearest railway station was Lampeter on the Manchester and Milford Railway. The other railway station was Aberystwyth, which could only be reached from Aberayron and the neighbourhood by travelling over 16 miles of road. Colonel Boughey: Of cours, the Commis- sioners, as you are aware, have already sanc- tioned a light railway from Aberystwyth to Aberayron, but have heard nothing about it. I don't know whether you have any remarks to make on that. Mr. Peterson said he had heard of it as a matter of report, but he had had no notice from the promoters of that undertaking, and they were not there that day. They did not consider their line to be in any way in oppo- sition to that. It would, he thought, be very difficult to find another place in England or Wales with such a large population, and with such a great lack of railway accommodation. The Aeron valley, which would be principally served by the line, was a particularly fertile one, and the farmers there, he was happy to believe, were as prosperous as it was possible for any agriculturists to be under existing circumstances. They would be more pros- perous if they had a railway. One of their difficulties was that they had to keep more horses above what they wanted to keep ow- ing to the amount of haulage. Cattle sold by the farmers also had to be driven a long distance to the railway, which made them tired, and upon being trucked they laid down, and were injured. The inhabitants generally also suffered because they had to pay more for commodities consequent upon the extra charges for haulage. There was also the fishing industry in the district. There was a harbour at Aberayron which was particu- larly suitable for fishing boats. They had quays there, and piers to protect the entrance and the depth of the water at the harbour was only five feet below the depth at the Liverpool entrance. Befoie present circum- stances supervened, the fishing industry at Aberayron was much more important than it was at the present time. But it had lan- guished, not because there was no fish, for it so happened that just opposite the harbour there was a gutter, which was one of the best breeding places on the coast. The Aber- ayron harbour did not reap the benefit of this, because, owing to there being no railway, the boats from other parts of the country came and trawled the fish in the bay and took it away. There were gentlemen at Aberay- ron who were anxious to prosecute this fish- ing industry, if they could get a fair return for their money, and they would get this if they could land their fish, and have it im- mediately taken away by rail to the markets in England. The only existing railway in the district was the Manchester and Milford Railway, and that Company was prepared to agree that they should have clauses inserted in the Order, which would enable them to come to agreements with that Company. They proposed when the proper time came, to ask for an interchange of traffic, and also other agreements as to the working of the line. lie had a letter from Mr. Boscawen, one of the diiectors, addressed to Air. Har- ford, stating he was in communication with the secretary of the Manchester and Milford Railway Company with regard to the Aber- ayron Light Railway, and it he could pos- sibly get anything by the 26th, he would do so. Mr. H. A. Steward: What is he in com- munication about? Mr. Peterson: The engineer tells me with a view to an amicable working arrangement with them. Mr. Peterson then went on to deal with the financial part. He said the land-owners along the route were prepared, either by a free grant of their land or other- wise to give all reasonable assistance and facilities in their power for the construction of the railway. It was intended to ask the treasury for a free loan or a special atWtonce, or a free grant or a loan, or partly a free grant and partly a loan. The estimate was t88,277 Mr. H. A. Steward: Does that include the purchase of the, land ? Mr. Peterson: Yes. Even if the land owners do give the land, I think the proper thing is to include the land in the estimate But it does not include the rolling stock. That will come to about £ 10,000. Mr. H. A. Steward: If you buy it? Mr. Peterson: If we don't buy it, we will have to earn the money and pay for it. The promoters are arranging ior the provision of half the capital, and have contemplated that they will obtain a quarter, or if necessary, rather more, from the County Council and other local authorities. The draft order proposed a capital of £ 150,000, but at that time they did not know what the estimate would come to, as the surveys were not com- pleted. Mr. H. A. Steward: what do you say you want ? Mr. Peterson: £ 1^0,000. Mr. Steward: Will that include rolling stock ? Mr. Peterson: Yes. Colonel Boughey: With borrowing OA N, in addition? Mr. Peterson: Yes. Colonel Boughey: How m 'd-, are going to spend ? Mr. Peterson: £1I}f,138 10. Colonel Boughey: To make the line? Mr. Peterson: Yes, and in f< .ding tho rol- ling stock, leaving a small balance of zC,5,000 ior working capital, etc. Mr. H. A. Steward: Do you include the ex- penses of your Order in the £ 104,000. The Engineer (Mr. S. W. Yockney) replied that the expenses would be divided as follows: —Works and land, 1:88,277; rolling stock, 1:10,000; administration, engineering, and costs of order, £ 11,723. Mr. H. A. Steward: Does that include in- terest on capital during construction? Mr. Yockney: I did not take that into con- sideration. Mr. Steward: I only want to see what kind of margin you want. Where does your item for working capital come in ? Mr. Yockney: The working capital would be covered by the rolling: stock and the 1:11,723. Mr. Peterson explained that it would be in- cluded in the balance of the £ 11,000. The working capital on a line like this would be very small. The promoters proposed to pro- vide £ 44,138. He had resolutions from all the local public bodies, except the County Council, promising their support to the scheme. In the case of the County Council he had resolutions from the Main Roads Committee and the Finance Committee, but the Council itself did not meet until the 4th prox. Mr. Sidney William Yockney, engineer, of Victoria-street, Westminster, and Chepstow, Mon, was then called to give evidence. He said that in the course of nis practice he had constructed the Cardiff and Penartk trsuawaaJ the Guernsey Light Railway, light railway of the Mumbles Railway, the VVye Valley Railway, and the Rhondda and Swansea Bay Railway. He had been engaged in the con- struction of a number of ordinary railways in West Somerset, Bristol, and South Wales, tor thirty years. The length of the malIl line of this railway was lij miles 3 furlongs between Lampeter and Aberayron, with a small junction, to the Manchester and Mil- lord Railway of a few chains in length. The total amount of the estimate was. £ »8,277. It was a. single line of the ordinary guage, with passing places ana sidings. When they got into the Aeron Valley the railway followed very much the direction of the main road. Colonel Boughey: The line follows the road very closely, but in. many places the road is included within the limits of devia- tion. Do you intend to alter the, road or interfere with it P Mr. Yockney: Only one road deviation is intended, and that is at Glandennis. There is no interference with the main road except by crossing. Mr. Yockney proceeded to say that there was no worse gradient than 1 in 40. The feature of the gradient was the surmounting of the ridge of hills between Lampeter and the Aeron Valley. Colonel Boughey: The long inclines are from Lampeter up to the summit. Mr. Yockney said they had been able to get curves of 11 chains radius. There were no tunnels, no viaducts, and very few bridges. There would be one bridge over the river Aeron. There would be no heavy earth works. He considered a railway would be a great advantage to the district. The present cost per ton for haulage across this ridge of hills varied from os. to 6s. per ton for four or five miles. For instance, all the coal had to go by road into Aeron Valley. He had also been informed by the farmers of the district that a railway would give them bet- ter facilities for getting artificial manures and feeding stuffs, and they would also be able to send away their dairy produce at a reasonable price to the mining parts of Glam- organshire. At Aberayron there was a small tidal harbour, but there was a considerable length of quayage there, and it seemed to him a very suitable place for landing fish, if the fish could be got away. With very few exceptions, everyone was in favour of the line, and it would be unpardonable if they did not lay out a good line, considering that everyone gave them the best advice they possibly could. As to the stations, he would deal with the road side stations first. He oonsidered there should be one at Silian; then a station at the summit, not that there was a village there, but there was a cluster of farms, and a wool factory, together with a large area of upland,, which could be greatly benefitted by having the carriage of artificial manures facilitated. Another station would be at Talsarn, in the middle of the Aeron Valley, and another between Talsarn and Temple Bar. The next place for a station would be Llanfihangel Ystrad, and the next station would be called Aeron Station, but he had not quite made up his mind as to the site. It might be at Neuadd-ddu or Pontfaen. There would also be a station at Llanerch Aeron, thus making six intermediate stations, each about two miles apart. He had pro- vided for a terminal station at Lampeter, but, he hoped, indeed he believed, that they would be able to make mutual arrangements with the Manchester and Milford Railway Company-whose engineer he was glad to see present that day-by which they could spend money in improving and enlarging the pre- sent Lampeter Station,, and make it a com- mon station, both for the traffic of the Man- chester and Milford and the Light Railway. Mr. H. A. Steward: Do you mean to run into their station ? Mr. Yoekney: Yes. Colonel Boughey: You run for a mile along side their line, and by arranging for a common station, could you not also arrange to run along that portion of the line. Mr. Yockney said that question had been discussed, but he thought it would necessi- tate the laying of a second line of rails. He, however, favoured the making of a separate a line. As to the tei minus at Aberayron, there were three sites, but the best, he thought, would be one in the gardens near the bridge. Colonel Boughey asked, having regard to the cost of the line, what did Mr. Yockney think were its earning prospects. Mr. Yockney replied that a large income from it could not be expected for some time. He thought, however, he might fairly as- sume that it would take, judging from other railways of a somewhat similar character, zC12 a mile par week, and that would produce, reckoning 55 per cent. for working expenses, a net revenue of £ 3,763 a year. zE12 per mile per week was about half what the Cam- brian Railway made. Colonel Boughey: Still P,12 per mile per (week is a high estimate for a sparsely-popu- lated country. Mr. Yockney: I think it a fair estimate. Colonel Boughey: Do you anticipate any special items, such as tourist traffic? Mr Yockney: No, but we thought fish would be a special item. Mr. H. A. Steward remarkedthat a short railway was different to a long one, as it bad no streams of traffic rolling in. Mr. Jcckney said he thought the amount mentioned would lie realised, and that on 1:110,000 would give 3t per cent. Mr. Steward: But you hope to get a Trea- } sury grant. Mr. Yockney: That would not help us un- less it was a free grant. Colonel Boughey: Some tourist traffic will be expected. Air. Yockney: Yes, the tourist traffic, no doubt, will be considerable. Colonel Boughey: Have you any reason to suppose that the Manchester and Milford would work you for 55 per cent. Mr. Yockney: I have no reason to believe that, but I know 55 per cent. is about what a line will cost to work. It has been sugges- ted that it should be worked at cost price. Colonel Boughey: That would not suit you. Mr. Yockney: I don't know. I am inclined to think it would. I rather like the idea, because it is quite certain that an existing company, having their staff, etc., could wore it as cheap as we could work it ourselrea. Colonel Boughey: But they would have no interest in working you cheaply. Mr. Yockney: We should have to take care that the working was properly conducted. Colonel Boughey: But you would not have much to say to that after the arrangement was completed. Mr. Yockney: We would have to guard against that. In renlv to the Commissioners, Mr. Yock- ney said it was intended to have a level cros- sing and jot a bridge at the four mile point. Mr. Peterson A great effort has been made to construct the line economically. Colonel Boughey: It is quite evident it will require to be constructed economically if it is to pay. In reply to further questions, Mr. Yockney said the cofet of cuttings and embankments worked out at £ 1,800 per mile, but there weve one or two places where he thought a little could be saved. The minimum weight of rail was 75 lbs. M-. E. H. Formby said he understood it was intended to place a station within forty ¡ yar, k,, of tho front gate of Glandennis. Mr. Yockney s,,£-1 the actual site *s 3.-t,!cd, but L. 11 be r.ocassary to kave a I strtVn near rj]'« i. ^rt-anly not within fo-tv I)f t."0 ho'Tse. A station meanr rrn=rWp h')"8P and sidings, and that wouL: bo imand«raal». fr. Yockney: The station would be hidden from Glandennis. Mr. Peterson: The station would be 40 yards from the gate, and the gate is 60 yards from the house. Mr. Formby: It is not a matter for me to discuss. It is a matter for the receiver of the estate, who, unfortunately, is not able to be here to-day. A short consultation then took place with the Commissioner. Colonel Boughey after wards said the discussion was to the effect that it was desirable not to have a station at Glandennis. The engineer said that a station there was necessary, but that it might be possible to keep it a few yards further baek to the nortk-eaat. Mr. J. C. Harford, Falcondale, said he was one of the promoters of the line, and con- sidered that the present scheme^as much wanted. He was satisfied that the route chosen was the best. Although there was a harbour at Aberayron, Lampeter was the depot to which all coal came from Glamor- ganshire. There was a heavy traffic in coal and lime along the Aberayron road. Private enterprise started a fishing smack some time ago at Aberayron. Plenty of fish was caught, but owing to the difficulty of sending it away it could not be sold. Practically every land owner was in favour of the scheme. Through having a railway the population of Lampeter had increased from 200 to 2,000, and the, same thing he hoped would occur at Aberay- ron, and in the Vale of Aeron. Mr. Harford also spoke of the support given by the local authorities, and said the County Councir had unanimously voted JC300 towards the prelim- inary expenses. In reply to Colonel Boughey, Mr. Harford said he considered a station was necessary at Silian. There were four roads there, one of which lead to Llangeitho. Mr. Delme Davies Evans, Highniead, said his mother was present owner and he was prospective owner of the Glandennis &tate. He did not object to the spot where it was proposed to put a station at Silian. He had acted as agent of the estate some three years ago, and he felt convinced that a station at that point would be a great benefit to the district. Mr. Peterson: You are in favour of this line?—Most certainly and I heartily endorse everything Mr. Harford has said about it. Colonel Davies Evans, the Lord Lieutenant said the Glandennis Estate belongwi to his wife and his son. Speaking on behalf of Mrs Davies Evans, she was entirely in. favour of the line as it was now planned, and thought that a station at Silian at the spot pointed out by the engineer would be a decided ad- vantage to the house of Glandennis. Major Pryce Lewis, Tyglyn Aeron, also gave evidence in support of the line. He suggested that a station should be placed at the cross roads by the.Board School at Cilie, as these roads led to Dihewid and Mydroilyn in the south, and to Cilcennin, Cross Inn, Pennant, and Llanon in the north, and a great number of small freeholders lived in those districts. At the present time he had to pay 7s. carriage on every load of lime or coal that came" into his neighbourhood. He had been asked to represent Mr. Gwynne, the owner of the Mouachty Estate, who was very much interested in Aberayron, because practically all that town belonged to that es- tate, and he was anxious to facilitate in ev- ery way the bringing of a railway to Aberay- ron. He also spoke for Mrs. Ashby Lewis, Llan Aeron, and Mrs. Lewis, Llanlear, both of whom were in favour of the railway. Colonel Boughey: Can you tell us anything as to the traffic along the road at present ? Major Lewis: Almost any day you pass along the road you meet a great number of carts. He had no hesitation in saying that if there was a railway the summer traffic to Aberayron would be immensely increased. Captain Herbert Vaughan, Wittington Lodge, Worcester, and owner of the Bryn- og Estate, said he coura confirm what had been said as to .the necessity of the railway. It would go through about three miles of his land. In reply to the Commissioners, it was sta- ted the present charge for conveying passen- gers between Lampeter and Aberayron was 3s. return or 2s. one way. The Commissioner asked Captain Vaughan if he had any reason to believe having got all the assistance contemplated, that they would be able to raise the balance. Captain Vaughan replied that he dî not know how much they would get, but they hoped to get all the money. Mr. Steward: And the Treasury grant ? "Captain Vaughan: We must get that, or we can do nothing. Mr. Denham Evanl," solicitor, Aberayron, Hid taking what he considered a fair esti- mate of the_takings of the present carriers and car proprietors t,he 'aggregate came to £6,154 per annum. As to the fishing industry during the fishing season from 20 to 40 traw- lers could be seen almost any day in the bay outside Aberayron, most of which came from Hoylake, Grimsby, and various other fishing ports. There was plenty of accommodation in the harbour, which could be increased if necessary. Councillor E. Lima Jones, Aberayron, said Cardigan Bay was considered the best fishing ground on the western coast, both as to quality and quantity. Most farmers in their district consumed anthracite coal, which was obtained from the Carmarthenshire coal- fields, and those were within easy access of Lampeter station, and even at present it was better to get the. coal by road than by sea. The same thing applied to lime. During his 25 years' residence. at Aberayron four or five attempts had been made to establish a fishing fleet, but all failed owing to the want of profitable markets. The farmers of the district were also excluded from the Liver- pool markets. There was a gentleman at Lampeter, Mr. Charles Evans, who had initia- ted a movement with the view of getting a traction engine, but since this project was started he dropped it. Alderman J. M. Howell, Aberpyron, said there was in front of Aberayron running par- allel with the coast line for nine miles, from a place called Pen-yr-ynysfach to Llanrhy- styd a breeding ground or gutter, about four fathoms deeper that the surrounding boCtom of the sea. That accounted for the presence of the trawlers, and he himself had sr-en as many as 37 i nthe bay. There was an inex- haustible wealth of fish there, but other peo- ple got the benefit of it and the Aberayron harbour languished. Brill, turbot and sole were caught, and the fish were considered to be the very daintiest. Colonel Boughey: With regard to the Aber- ystwyth and Aberayron scheme, was there a Treasury grant ana" a County Council grant for that?—Tho County Council agreed to advance £ 18,000- But the Treasury?—We absolutely failed there. Do you know why?—Because there was no existing railway to promote it, and it was also a narrow guago. Is it understood in the neighbourhood that that railway is entirely dead ?-No, not quite dead. Do you want both railways for the fish?- They would compete with one another for taking fish away. 11 Would both make a revenue?—I think so I think one would feed the other. Mr. Steward: You don't anticipate that the other line will be made, do you?-! have worked very warmly for that, and still be- lieve it may be possible, but I fear it is nearly extinguished (laughter). Mr. Lima Jones said if a plebiscite was taken in his locality on the two railways, he had no hesitation in saying that the people would give their vofes in favour of this before the other. Alderman J. M. Howell said Mr. Montague Smith came down on one occasion lately, and said there would be a revival of the Aberyst- wyth scheme, but he had heard nothing since, The County Council offer expired in another three months. There might be room for both, but as far as the County Council was concerned they were prepared to consider any reasonable scheme, being very anxious to open up the country. Further witnesses called were Captain J. Evans, Milford House, Aberayron, Mr. Evan Jonathan, cattle dealer, Talsarn; Mr. John Jones, Cwmere; and Dr. Walker, Lampeter. Mr. John Jones said that assuming every farmer in his parish consumed about three tons of coal and about two tons of manure every year, and p,ir1 3d. a cwt. for haulage from Lamp" station, the. cost of haulage would be £ 37 10s. B ■ having a railway, and by ^aving tho stuff ('rind at Is. a ton, the cost would civ b:£17 J Gs. was .1! the evidence. Colore7 Poa~hey s id the Commissioners Ih to .vron was much wanted. 1'1,0 p- .t:c"! question was how wo'.aci the :ri¡.> the money. This arp^fer? tn '^enend on a grant from the Tre- pqury po .H "+. frf>rv> loro] yV'r- ;i,-<> f .r1 n-rrw.. Under the law "t trn—fT-^nt depended oil .i ,-¡.>r. .< --v -¡tl1 n eXlf3t.fI' ra, --)v coTpany for the construction and J of the line. These points would, therefore, receive attention, and on their being satisfactorily arranged the ConuniE- sioners would be prepared to submit an order to the Board of Trade for confirmation. This ended the enquiry.
---LLANDILO AND ABERAYRON…
LLANDILO AND ABERAYRON LIGHT RAILWAY. A parish meeting was held at the Council Schoolroom, Llansawel on Saturday evening the 23rd inst., to consider the best way to support the proposed Llandilo and Aberayron Light Railway. There was a very large gathering of the parishioners, in fact, near- ly every ratepayer in the parish attended to support the movement. The question of the railway has been the chief topic of conversa- tion ever since the notice of the meeting ap- peared. Mr. John M. Davies, Froodvale, the Chairman of the Parish Council, presided The Chairman in opening the proceedings gave an outline of the history of the last proposal to get a raay to Llansawel in 1861-6. The bill passed through "Parliament" and the contract was signed, but unfortun- ately, the large banking firm of Overand and Gurney failed with disastrous effect, and the contractor, Mr. Watson, consequently failed to carry out his contract. Speeches were delivered at Saturday's meeting by Rev. J. Phillips, B.A., Mr. James Thomas, Maesllan, and Mr. T. Davies, Tyn- yewm, and all were in favour of the scheme. The Rev. D. B. Richards proposed the follow- ing resolution which was seconded by Mr. Thomas, Maesflan and carried unanimously: That this Meeting begs the Parish Coun- cil to take up the question of getting a Light Railway through this district, to consult and unite with the Parish Councils of Talley and Caio, and also with the Urban and Rural District Councils of Llandilo in order to se- cure a Light Railway froni^Llandilo to Lam- peter, and that we urge them, jointly, to appeal to the County Council for their sup- port and also to correspond with Mr. Har- ford and other promoters of the proposed railway. "Rev. D. B. Richards further pro- posed, and Mr. T. Davies, Tynycwm seconded and it was carried unanimously:—" That we as a meeting beg to ask the support and co- operation of the following gentlemen Sir James Drummond, Bart, Edwinsford Sir James lls-Johnes, Dolaucothy; J. M. Davies, Esq., Froodvale Meurid Lloyd. Esq., Glanyrannell, and Dudley W. Drum- mond, Esq., in order to get a Light Railway through this neighbourhood, convenient to the village and parish of Llansawel, and that we appoint a number of persons from this meeting to act as a deputation from this meeting to lay before them the request and feelings of this meeting."—The following persons were nominated as a depuation to appear before Dudley W. Drummond, Esq., at Llansawel on the 26th. inst. to lay the mat- ter before him Messrs. Elas Davies, Brynan- uchaf, J. Davies, Brynauissaf, D. Jones, Blaencwm, J. Thomas, Maesllan, J. Jones Factory; T. Davies, Tynycwm; and the Rev. J. Phillips. The following resolution was also unanimously passed That we are pre- pared to support the undertaking by taking shares in it."—The Chairman announed that the Lord Lieutenant of the county Sir James Drummond. Bart., Edwinsford, was in fav- our of the Light Railway.—This was received with applause. The Chairman also promised his support to the movement. Oo the motion of Mr. Davies, Tynycwm, seconded by Rev. D B. Richards a hearty vote of thanks was tendered to the Chairman for presiding, which was duly acknowledged. The meeting then terminated. We are further given to understand that meetings are to be held this week of several other parishes which are on the route of the proposed Railway.
LAMPETER.
LAMPETER. Early Lambs.—At Beilycoch, which is farm- ed by Mr. Thomas Davies, several lambs have been dropped. Gazette Notices.—The following notice ap- peared in the London Gazette last week: Bankruptcy Acts-receiving orders. Ed- ward Davies, Jones, trading as Davis, 3, Peterwell-terrace, Lampeter, coachbuilder and wheelwright. Grand Contest.—The prospects for a suc- cessful concert at Soar Chapel on February 3rd. are most encouraging. Already there are several entries for the solo competition for which a prize of seven guineas will be awarded. Another attraction will be the organ recital by Mr. Harry Evans, Dowlais. Half holiday return tickets are issued by the Manchester and Milford Railway on that afternow Lazy Tramps.—The Mayor (Alderman Joseph Davies) on Wednesday, bad again two tramps be- fore him, who were charged by Mr James Evans, Workhouse master, with refusing to break stones. They gave the names of James Dunn and Wm Morris, and both gave an excuse that their clothes had not been properly dried at the Workhouse However, upon Inspection, it was proved otherwise, and both were sent to prison for fourteen days. The Water Supply.-After a long spell of quiet- ness the inhabitants are again hampered with their supply of water, which is being turned off and on without any notice. Complaints are rife, and not without cause, as it is reported at each Council meeting that the supply is good. On more tbaa one occasion last week Bryn-square was flooded by the bnrsting of the main. These complaints could easily be remedied. A stitch in time saves nine. St. Peter's Church Choir.—At the invita- tion of Mr. D. F. Lloyd, solicitor, the mem- bers of St. Peter's Church Choir, who performed the "Mikado v so well the previous week, were entertained by him on Saturday evening to a supper which had been provided at the Walter's Temperance Hotel. All the members turned up. and partook of an excel- lent feast catered in good style by the hostess Mrs. Walters. All the members seemed to have enjoyed themselves immensely, and a hearty vote or thanks was accorded Mr. Lloyd for his generosity. The Late Hey. D. R. Williams.— At a prayer meeting held at the Shiloh Calvinis- tic Methodist Chapel on Wednesday reference was made to the death of the late Rev. D. R. Williams, Aberystwyth, at one time pastor of Shiloh Church. The congregation who were deeply moved by the sad news passed a vote of condolence with Mrs. Williams and family in their sad bereavement. Preaching at the same chapel on Sunday, the Rev. J. Bowen, Pontrhytendigaid, in the course of his sermon, referred to the many noble qual- ities of the deceased, and to the loip by his death to the district in which he laboured. At the close of the evening service, Miss Edwards, Dolwen Factory, the organist, played the Dead March. A sad Evetit.-Tile young man John Evans, son of Mr. Rees Evans, Plasybryn, who was accidentaly shot at Llandovery on "Monday week succumbed to his injuries on Saturday niorialug. Lvaiis, it will be remembered, went out with his father-in-law and two young men to shoot wild ducks, and when one of the latter was in the act of shooting the gun went off, and E,vans received the full charge in his back. All the shots were duly extracted, and Evans seemed to be progres- sing, but at the end of the week he grew worse, and passed away on the above men- tioned day. The sad news of his death was received throughout the district with deep regret, and much sympathy is felt for lys young widow and eniid. and parents in their beicuvement. An inquest was held on Mon- day, when a verdict of Accidental death," was returned by the Jury. His body was conveyed to Lampetcr on Tuesday,, for inter- ment. Evans who was twenty-three years of age was a carpenter, and only a few weeks ago had returned from Cardiff, having been engaged by Mi-. Evan Evans, College-street. His death is mourned by a. young widow and child, and a father and mother, Mr. and Mrs. Rees Evans, Plasybryn. three brother, Sergt Ben Evans. Dolgelley. Tom Evans. Mountain Ash, David Evans., Plasybryn, and two mis- ters, Mrs. Jones, Newport, and Mrs. Lloyd, Market-street, besides a large number of relatives. Fancy Dress Ball.—On Friday evening a dauce was given at the Walter's Temperance Hotel, under the auspices of the Hockey Club. The event was looked forward to with much interest and it turned out a great suc- cess in every respect. Thirty-ona couples, all in iiav fancv costumes, turned UD. and the large Hall presented a p' tty and lively ap- pearance. Di ne'ng commenced at eight. o'clock, and was k'-ot up in a mervy mood until the earlv limps of the morning. As usual, Mrs. W:»'t~'P had been entrusted with the catering, and i* "31(>"5 to state, that she g-v-, e»v4"i"o rr ti.rv t.ion. The following '■s 1 st of {]• <•><•" r'sct and t-Iiefr respective crwtuTn"'?:— Tfi:s Pu^Te. Ma^'tana M''spos W-ft, T^v-th t '»; Miss Morgan, "Evening. C,OT,Tner, "Evening": nf-r, .T)" Gil. MIES Fil.i Dav- r-• Miss Kitt" j Fva-s. "*T«" r1 "i s "1 nnio Jones, -vm • -• ->r J I^T-enin'x i M'ss LPø -ior • Miss Aniie Hughes Gladys "Snowdrop"; H: Sh-rdon, "Red Cross .Nurse": Misses Owc-a, •. Italian )'laid" 'j; Miss Rosie Lloyd, "Geisha"; Miss Jeri- me Jones, "La Pompadour"; Miss Alice Davies, "Italian"; Miss R. A. Thonas, Ei-I e iillg!; Miss Deborah Davies, "Milkmaid": Miss Aeronia Davies, "Maypole" Mist Annie Timothy Jones, Selioolgii-I MisS Elizabeth Evans, Miikmaid"; Miss Olwen Jones, Red Riding Hood Miss Letitia Thomas. Harvest M Jones, Little Bo-peep Miss Laia Davies, Che, rv Ripe Misses Annie and., Edith Jonee, "Two little girls in blue Miss Agnes Evans, "Early Victorian"; Miss Jenny Evans "Marguerite." Gentlemen — Mr. Bertie Jones, • uodney btone Mr. H. C. Davies, Chef Mr. Johnny Evans, The Absent Minded Beggar"; Mr. Tommy Williams, "Royal Field Artillery, Mr. J. S. Jones, Mercantile Marine Sergeant Mayo Bald- win," Cricketer"; Mr. Frank Lloyd, "Cey- lon Coffee Planter"; Mr. J. M. Price, Ev- ening'; Mr. Hughes Davies (Aberayron, Evening Mr. Gandy, "Evening"; Mr. Evans, "Evening"; Mr. Wit-liams "Eiening" Mr. Richards, Evening"; Mr. Hughes Davies, "Evening"; Mr. Fox, King: Henry VIII. Mr. E. S. Morris, Hasnlet (Sha- kespere); Mr. Willie Williams. "Cricketer" Mr. Evans, "Curate"; Mr. W. S. Morgan, "Khaki"; Mr. Jones, Ivy Bush, "An old English Squire"; Mr. Stephen Von Davies. "Khaki." Chaperones:— Mrs. Footman, Mrs. Tivy Jones, Mrs. Tom Lloyd, Mrs. Davies, 5, Station-terrace, Mrs. Nun Davies, Mrs. Jones, Ivy Bush, Mrs. Stephen Von Davies. BOARD OF GUARDIANS. The fortnightly meeting of the Board of Guardians was held on triday. Mr. David Davies, Velindre, presided, and there were also present the Rev. R. C. Jones, Lampeter, vice-president, Messrs. B. J. Evans, Llan- fair-Clydogau; vice-chairman, J. C. Harford and David Price, Lampeter Rural; David Davies, Cellan J. G. Marsden, Silian; Evan Davies, and Thos. Williams, Llanwenog; with J. E. Lloyd (clerk), E. D. Rees. (assist- j ant clerk), James Evans (master), Dr. Abel Evans (medical officer), Wm. Davies, and David Evans, (relieving officers). The Clerk reported that there was a deficiency of L371 3s. 5d. due to the Treasurer. The Clerk ex- plained that this deficiency was due to the fact that several of the Overseers had not paid in their calls, some of whom diti-Dot even make their rates until the time for col- lecting was due. The Auditor had complain- ed to him of this delay, and he had written to the overseers threatening proceedings. It was agreed that the Clerk should again write to the Overseers and threaten proceedings. —The Master in his report stated that during the past fortnight nine tramps were sentenced to various terms of imprisonment for refrac- tory conduct at the Workhouse.—This com- pleted the business of the Board, and a meet- ing of the Llanybyther District Council was to have been held, but there were no members present and the meeting was adjourned. Mr. Davies, Velindre remarked that since the hour of the meeting had been changed at the request of the members of the lower dis- tricts their attendance had not improved. LAMPETER DISTRICT COUNCIL. Mr. David Price, Fronbedr, presided over a meeting of this Council which was also held on Friday. Referring to Rhydnis Bridge in the parish of Llanwenog, the Clerk said that he had received a reply from the Llandyssul Council stating that their surveyor had been instructed to discuss the matter with this Council's surveyor.—Mr. T. G. Williams, re- marked that the matter was as far aiever from being settled, one surveyor could xwA agree with the Clerk's suggestions.—As the Surveyor (Mr. John Jones) of the Lampeter Council was not present at. the meeting it was agreed to adjourn the matter.
LLANFIHANGEL-Y-CEEUDDVN.
LLANFIHANGEL-Y-CEEUDDVN. The Rev. W. Headley, M.A., read himself in as vicar of Llanfihangel-y-Creuddyn last Sunday morning, and preached in the even- ing. He visited the Sunday School in the afternoon. The induction by the Ven. Arch- deacon Williams, will take place next Tues- day afternoon at 3 o'clock, when it is hoped that as many as possible will attend.
LLANGWYRYFON.
LLANGWYRYFON. Seasonable Benevolence. Mr. Loxdale, of Castle Hill has this year again with his usual generosity sent £0 to be distributed amongst the poor of the parish. All the recipients were grateful to the kind donor, and wished Mr. and Mrs. Loxdale every happiness and prosperity. The Rev. D. Jenkins, vicar as- sisted by the Messrs. M. Edwards, Pantam- lwg and J. Jones, Ffynonwen distributed the gift.
BONC-ATH.
BONC-ATH. Died while at Breakfast. -While she was eating her breakfast on Sunday morning last, an aged woman named Elizabeth Davies, re- siding with her daughter at Fronhendre farm Capel CQlman near Boncath, suddenly dropped down and expired in a very short time. She was 70 years of age. An inquest was held on Tuesday by Mr. Williams, St. David's, the deputy coroner.
ABERPORTH.
ABERPORTH. Temperance.—On Friday evening a meet- ing of ladies was held in the vestry room of the Calvinistic Methodist Chapel for the pur- pose of forming a branch of this Union at the village. Miss Rees (Cranogwen) occupied the chair. Cranogwen also was the organiser of the meeting, having paid a special visit to the place on a formefoccasion for the pur- pose. when she delivered a very able lecture on the Temperance cause. As a result, this gifted lady worker on Friday, had the pleasing satisfaction to preside over a well- attended gathering, which apparently filled her heart with joy, and hope. It was decided that a branch should be formed. Presidents, treasurer, and secretaries were appointed. and also an executive committee.
NEW QUAY.
NEW QUAY. Liberal Association.—A meeting of this Association was held last Monday evening at the Tabernacle Schoolroom, when a goodly number of Liberals came together to con- sider the report of the delegates to the Car- marthen Education, Conference-, held last Thursday. The President of the Association Mr. W. Thomas, Brynarfor, took the chair, and after a few remarks, called upon the Rev. D. M. Davies, to give his report. Mr. Davies gave a detailed account of the Conference. tie said it was worth while going there, even from New Quay to hear the enthusiastic ad- dresses that were delivered. The Conferen- ces was unanimous in adopting the Welsh policy in the coming election—Parish, Urban. District, County, and Parliamentary. Sup- port to be given only to those who are sound on the Education question. An appeal was made for unity, and that Wales should move as a nation on this important matter. The object of the present Government was to des- troy the fundamentals of Nonconformity, and it behoved us as anation to stand firm in the present crisis. The Rev. W. Aerwyn Jones, another delegate, endorsed the remarfci of the previous speaker. The Rev. J. R. Davies, Baptist minister, at Southport. who was present, was asked to say a few words, and he gave a very interesting and instruc- tive speech. He said that he was proud to be a Welshman for Wales to-day was teaching England a lesson. England was looking on to Wales for a lead. So far Wales was doing splendidly. Councillor E. J. Davies. Glyn, Messrs J. O. Davies and T. P. Timothy also made speeches full of the fighting spirit, which will be needed in the near future. It was decided that the next meeting be held on February 15th and that a hearty welcome be extended to all to be present. The Presi- dent will deliver an address on Free Trade, and Protection. A vote of thanks to the delegates for their full report brought a very interesting and enthusiastic meeting to a close.
-----------MACHYNLLETH.
MACHYNLLETH. [Other Local News on irside Page-] The forthcoming "Jubilee," of the R..v. Josiah Jones.—A largely attended meeting was held in the Graig School room on Monday evening lat to consider what steps should be taken to celebrate the jubilee of Rev. Josiah Jones' ministry at this place. The gathering I ing was thoroughly representative, there being members of all the religious bodies irr the town present. The Church ot England w.'S represented by Mr. Richard Gillart. The r-:»ctor (Rev. L!ewelvn Wi HÜUI15, M.A.), ould have lwf''1 P-pe-lit bvt Was unavoid- ably detained. The Calr;Tiistic Methodists fp-v -enresented bv th' Rev. V. S..Tows. M.A.. and fr. Pic^on Peos J P.. the h,tt; of wlion over Wesleyan ;\é1,"isi< V "v. J D. pnd the Fnth hv th '■ r". D. R. Ting* '1r, !V1 T\ ,T •> TVt r»r» nc; "0 <plVT)n^€i bri,41v bv .hhn M. Breeze- David Williams, snil Davi^ V. ¡ Sllidl, which was to elect Committees and officers to carry out the work in connection with the Jubilee. Mr. Edward Rees, J.P., was elected President, and Messrs. Richard Rees, J.P.. Edward Davies, J.P., (Dolcara- gog), John Thomas, Richard' GiUart, J.P., John Rowlands and Llewelyn Evans were el- ected as vice-presidents. Four secretaries w-ere chosen, being Messrs. J. C. Jones, Llan- fyllyn;T. R. Morgan, David Smith, and. Cas- wallon Wood. Mr. J. G. Jenkins, Nktional Provincial Bank was elected ab treasurer, and the Executive Committee is to be cootposed of the Deacons of "Graig" Llanwr4. and Penegocs Congregational Churches, the Rev. E. Wnion Evans, Mr. David Lewis of Hendreseifion and th eministers and rector of the town, and also the officers of the com- mittee. It is pretty generally known that the Rev Josiah Jones has been in the nastor- ate of Graig Chapel for fifty yearr,, hich is quite a unique experience in these d^p» mi fiequent ministerial changes. He is held in high esteem in the town for his sterling, char- acter and has done good service to the cause of education and other public objects. H. was at one time chairman of the Congrfegat- ional I nion of Wales, the highest honcut* his denomination could confer upon him., He was also for some years Chairman of the tEov- ernors of the Local County School. Very high testimony as to his worth, as a man and a Christian, was borne by Messrs J. M. Breese and T. R. Morgan, and the meeting through- out was enthusiastic in tone. It is hoped that the testimonial which it is proposed to raise for Mr. Jones will be worthy of the man and of the occasion.
North & South Wales Bank Limited.
North & South Wales Bank Limited. The sixty-eighth annual general meeting of the shareholders of this Bank was held on Tuesday, 19th inst.. at the rooms of the Liverpool Law Association, Cook-street, ihomas Brocklebank, Esq., chairman of the Bank, presiding. There was a numerous at- toodance of proprietors. In moving the ad- option of the report, the Chairman said:—It Ù; now my duty to move the adoption of the report and balance sheet which have already been circulated among the shareholders, and I am very glad to have the pleasure, after my absence last year, of presiding again at what perhaps you will allow me to caU our annual festival, for I know many of our country shareholders look forward to it as a day out (laughter). It is a privilege for which I am indebted to my esteemed colleagues on the board, from whom I have always received, and continue to receive, the utmost consider- ation. There have been forces at work in the financial world that have engaged t-he attention of bankers, but may have beou passed over by the casual observer, which have tended to make money dearer than it was during the previous year. This is shown by the Bank of England rate of discount hav- ing stood at £ 3 15s. per cent., instead of an average of £ 3 6s. 7d. for the year 1902. This, had had the effect of enhancing the earning power of the bank, and, coupled with the fact that our business is in a sound and healthy, I may say expanding, condition, has made our gross profits, as you will see from the balance sheet, very satisfactory indeed, quite the lar- gest that have ever been recorded, thus en- abling us to keep up our dividend to the hand- some figure of 16 per cent. I feel sure I am only echoing your feelings when I say that all the shareholders will be satisfied with the re- sult. I would specially draw your attention to our continued immunity from bad debt*. The fall in the value of first-class securities is the only unsatisfactory feature in the year's working, and we, in common with »th«r banks, nave been obliged to provide for this depreciation. Your directors have, therefore, faced the position, and have done so, aB. you see, by transferring £ 25,000 from reserve fund to write down Consols to 8il. and out of the profits of the year, which can well afford it, have allotted L15,000 to meet the fall in railway and other securities. Our in vestments, consequently, now stand in our books well below the market prices of the day. I need hardly remind you that the in- come derived from our investments is in n4 way aSecteJ by this change in the capital value, which latter we hope is only of a temt porary nature, and will adjust itself wheq the large issues of Government stocks, con- sequent on the war expenditure, and the ex., tensive borrowings by municipal and other public bodies have been absorbed by investors. While on this subject I cannot help remark- ing, at the risk of hurting the feelings of any eity councillor or-other member of a, governing body who may be present, that I hope the extensive loans of municipalities and county governing bodies, which by their expenditure, they have been obliged to issue, may not interfere with private enterprise; t but the enormous sums which have been plac-, ed on the market, already glutted with such securities, may be at the bottom of the de-' preciation of the gilt-edged stocks for which we have had to provide. The latest move of the Government, of enlarging the amount of. Poet Office orders from C10 to £ 40, may be convenient enough for those who do not keep bank accounts, but is surely an encroachment on the business of the joint stock and private., banks which seems to be uncalled for. Our funds have been very fully occupied during the major portion of the year, and our liquid assets, in proportion to our liabilities, keep fairly up to our usual standard; but I am specially glad to draw your attention to the handsome sum we have in our bill case, bills being, in the opinion of your directors and our general manager, the most useful asset we possess, as they are continually maturing and being turned over. It is also satisfac- tory to know that our commission account this year has been well maintained in volume. This is partly, accounted for by our cotton business, and explains the considerable amount we had under acceptance on 31st December. It may also be interesting to you to know that our circulation of own notes keeps up, which is a sure indication of our continued popularity in Wales. We have opened new branches at Llangefni and Lud- low, and Prestatyn has been created a full branch. The branch at Ludlow. which was opened for business on Monday morning, is in the middle of a rich district, and we have every hope that it will add materially to our already established connection in Shropshire. Now, I think this a fitting opportunity of expressing our sympathy with those farmers in the Principality who have suffered from the bad harvest of last year, and I am certain you will join with me in expressing the hope that the coming season may be more pro- pitious, and that their losses may be recouped. (applause). As to the future. I am not going to prophesy, but we have an excellent busi- ness. a keen and reliable staff, and are fully equipped at all points to take advantage of good times which I hope are in store for us, and I trust as fully alive to dangers which may be ahead. It will, therefore, be your directors' policy in the future, as it has been in the past, to strengthen our reserves, even at the expense of the dividend if need be, though we hope this may -not be necessary, and in this I am sure we shall have the support of every shareholder in this room and else- where (applause). Mr. Joseph Beausire seconded the motion. Mr. Pearce said he wished to express his great satisfaction with the good results of the year's working of the bank. The pre- vious year was a good one, but this was bet- ter. With regard to the depreciation of Consols and other gilt-edged securities, he must say that he did not like taking money from the reserve to compensate for this de- preciation. He thought they should have a contingent fund for the purpose, and he would rather have the dividend reduced than, the reseiTes touched. He was quite aware that other banks followed the same practice as this, but he thought his opinion was cor- rpet. He wo-, very pleased with the result of the year's operations. The resolution was carried unanimously.
Eisteddfod Mydroilyn.
Eisteddfod Mydroilyn. (At, Olygvdd y 11 Weisli Gazette.") YR.F,,1 derTivnvdd cr.n o'ch papur clodwiw; .gof,-iinf a i-n nfod i'r pwrpas (I ■'■vwiro 2-well -ni-ofa! a sreisicd-' n y" o V rha'/drcfii iiH .W' 1 r.(1 '<rfY UV- Lv! *,v. rr: .1""P1" r-l,T'tJYO 1 v ,,)\ ';v!f "I; 'i h'?¡.rnn i f,. :h" 04iy i Mr I t Joner R'^seorb > r. Ond rran T1;\4i on"* "r •-oVr. rirfarm-• Vsc r ,1, n?'1*' *"V- "r,i1') vvv* T, vwrif^tx v "r n" -rn"¡;>; t" t" r TVJVSC*. npf v r -|i i "r '*>r>«a 6r-'i h <r i«;llvch i gofnodi yr. ei~n rbff'H m«<8f Y dwyf. MvdfiaH.