East and West India Dock Company Act 1874

Publication Date:January 01, 1874
 
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East and West India Dock Company Act 1874

(37 & 38 Vict.) c. lix

An Act to amend the Acts relating to the East and West India Dock Company.

[30th June 1874]

[37 & 38 Vict.] The East and West India Bock [Ch. lix.] Company Act, 1874. CHAPTER lix. An Act to amend the Acts relating to the East and West a.d. 1874. India, Dock Company. [30th June 1874.] Tf JTHEREAS by an let 1 and 2 William the Fourth, chapter 52, H intituled cc An Act to consolidate and amend the several "Acts for making the "West India Docks," in this Act called " the principal Act," the West India Dock Company were incorporated, and the several Acts relating to that company were consolidated and amended: And whereas by an Act passed in the reign of Her present Majesty, 1 Victoria, chapter 9, entitled " An Act to' amend the " several Acts relating to the West India Dock Company and the " East India Dock Company, and to consolidate the said Com-" panies," that company acquired the undertaking known as the East India Docks, and were thereby incorporated as " The East and West India Dock Company," in this Act called " the Company:" And whereas by such last-mentioned Act all the provisions of the principal Act, save as therein excepted, were made applicable to the Company : And whereas the provisions contained in the principal Act relating to the sale and transfer of the capital stock of the Company have been found in practice to be inconvenient, and it is expedient that the same should be repealed, and that the provisions applicable to such sale and transfer should be in accordance with those enacted in " The Companies Clauses Consolidation Act, 1845:" And whereas the Company have exercised the power given to them by the principal Act (section 35) to increase their capital, by creating and issuing three hundred and twenty thousand pounds additional capital stock, and the same has been fully paid up, thereby raising the total capital stock of the Company created at the time of the passing of this Act to the sum of two million three hundred and eighty-five thousand six hundred and sixty-eight pounds, and the \Local.-59.~] A 1 [Oh. liX.] The East and West India Dock [37 & 38 Vict.] Company 'Act, 1874. A.D. 1874. total capital stock of the Company issued to two million three hundred and eighty-five thousand five hundred pounds, and they have also exercised the power given to them by the East and West India Docks Act, 1865, to borrow on mortgage three hundred and twenty thousand pounds, and have accordingly borrowed such sum, and their mortgage debt now stands at that amount: And whereas by the principal Act, section 121, it is enacted as follows: " That it shall not be lawful for the said "West India Dock " Company at any time or times to carry on or be in anywise con-" cerned in the trade or business of building or repairing ships or " other vessels for hire or profit, nor shall any slip or slips, dry dock, " graving dock, way, or other place for the building, heaving down, " or repairing of ships or other vessels at any time hereafter be " made or built, or permitted or suffered to be made or built, in or " adjoining any of the said docks, basins, and cuts of the said " company; but nothing herein contained shall extend to prevent " the said company from selling or letting the docks, yards, and " other premises at Limehouse now in the occupation of Messieurs " Fletcher, Son, and Pearnall, nor the docks, yards, and premises at " Blackwall now in the occupation of Messieurs H. and "W. Pitcher; " but so nevertheless that no opening or communication shall be " made or permitted between the docks, cuts, and basins of the " said company, and the said docks, yards, and premises now in " the occupation of Messieurs Fletcher, Son, and Eearnall, and " Messieurs H. and W. Pitcher, so long as those docks, yards, and " premises shall be used for the purpose of building or repairing " ships or other vessels," which restriction, owing to the large increase of trade and shipping frequenting the docks of the Company has been found prejudicial to the public interest, and it is expedient that such restriction...

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