Port Carlisle Dock and Railway Act 1853

Publication Date:January 01, 1853
 
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Port Carlisle Dock and Railway Act 1853

(16 & 17 Vict.) c. cxix

An Act to authorize the Abandonment of the Carlisle Canal, and the making of a Railway in lieu thereof, from the Newcastle-upon-Tyneand Carlisle Railway, at Carlisle, to Port Carlisle; to repeal the Acts relating to the Carlisle Canal and Docks, and to re-incorporate the Company; to authorize the raising; of a further Sum of Money; and to confer additional Powers; and for other Purposes.

[4th August 1853]

ANNO DECIMO SEXTO & DECIMO SEPTIMO *^**^^*^-**^*****^***^^*****^***^*^*^****^^*^***-**^^ Cap. cxix. An Act to authorize the Abandonment of the Carlisle Canal, and the making of a Railway in lieu thereof, fi the Newcastle-upon-Tyne and C lisle Railway, at-Carlisl to P. Car lis I to eal the Acts relating1 to the Carlisle Cana i P id Docks, and i P Company I to au tho ize the raising of a further Sum of Money; and to confer additional Po and for oth er Purposes [4th August 1858.] r* T^HEREAS by the Local and Personal Act, 59 George III., Chapter 13, intituled An Act for making and maintaining a navigable Canal from or from near the City of Carlisle to the Solway Frith at or near Fisher's Cross in the Parish of Bowness in the Comity of Cumberland, and herein-after referred to as "the Canal Act," certain Persons were incorporated by the Name of "The Carlisle Canal Company," and were thereby empowered to make and maintain a Cut or Canal for the Navigation 3f Boats, Barges, and other Vessels from or from near the City of 'artistet in or through the several 'Townships and Parishes in the 59 G. 3. [i 21 N said 1890 16 & 17 VICTOEIiE, Cap. cxix. The Port Carlisle Dock and Railway Act, 1853. Frith since known by the Name of " Port Carlisle" in the said Parish to Work therewith: And whereas the Company were by the said Act authorized to raise by Shares such Sums of Money as they should think necessary for the Purposes of the said Undertaking, not exceeding in the whole the Sum of Eighty thousand Pounds} and in case the said Sum of Eighty thousand Pounds should be found insufficient, the Company were authorized to raise, either among themselves or by the Creation of new Shares, or to borrow and take up at Interest on the Credit of the said Undertaking, any further Sum or Sums of Money not exceeding the Sum of Forty thousand Pounds: And whereas the Company, under the Powers of the said Act, have made and completed the said Canal: And whereas by the Local and Personal Act, 6 and 7 William IV., Chapter 60, 6-&7W. 4. intituled An Act to enable the Carlisle Canal Company to make c lx. a Dock or Docks at Port Carlisle otherwise Fisher's Cross, and for amending and enlarging the Powers and Provisions of the Act for making and maintaining the said Canal, and herein-after referred to as 6i the Dock Act," the Company were empowered to make and construct a Dock or Docks or Basin or Basins in and upon the Land or Ground of the Company at Port Carlisle in the Parish of Bowness in the County of Cumberland, and the Beach or Strand in front of or adjoining thereto, and the Company were authorized to make, construct, erect, build, and maintain, and from Time to Time to keep in repair, such Piers, Jetties, Breakwaters, Quays, Wharfs, Slips, Walls, Banks, Locks, Weirs, Sluices, Tunnels, Cuts, Channels, and other Works, and to do, execute, and perform all sucli Acts, Matters, and Things in and upon such Land or Ground, Beach or Strand, and in the Channel of the said Solway Frith, as they should think necessary and proper for making, constructing, and maintaining the said Dock or Docks, Basin or Basins, and for making the same fit for the Reception, Accommodation, and Security of Ships and Vessels resorting to the said Canal, and for the more convenient lading and unlading of such Ships and Vessels, and for facilitating the Access to and increasing the Convenience or Security of the said Dock or Docks or Basin or Basins, and for preventing Mud, Gravel, Soil, Filth, and other Matters from stopping up and injuring the same, and also to erect and build such Warehouses and other Buildings for the Reception and safe Custody of Goods, Wares, and Merchandise, and all such Dwelling Houses and Conveniences as should be necessary for the Purposes of the said Docks or Basins, and to demand certain Tolls or Rates for the Use thereof: And whereas by the Dock Act the Company were empowered, for the Purposes of the Works thereby authorized, to raise by Mortgage 16 & 17 VICTORIA, Cap. cxix. 1891 The Port Carlisle Dock and Railway Act, 1853. Mortgage on the Credit of their said Undertaking any Sum not exceeding the Sum of Forty thousand Pounds; and in order to provide for the Liquidation of the Debt owing by the Company under the Authority of the Canal Act and Dock Act, or either of them, the Company were empowered to raise the whole or any Part of the said Debt by the Issue.of new Shares in the Manner therein mentioned, or to divide the said Debt proportionally amongst the whole of the Shares for the Time being of the Company, burdening each Share with a Sum bearing the same Proportion to the whole Debt which such.Share bore to the total Number of Shares, and with Interest on such proportional Sum at a Rate to he fixed by the Company, and after such Division or Apportionment every Share should be liable to the Payment of the proportional Sum and Interest charged thereon, and should not be liable for any other Part of the said Debt, but subject nevertheless and without Prejudice to the Rights and Remedies of any Creditor as against the Company: And whereas, under the Powers of the Dock Act, the Company have constructed a Dock and Basin and other Works at Port Carlisle, and by means of the Carlisle Canal, and of the Newcastle-upon-Tyne and Carlisle Railway, which runs into the Station of the said Canal Company at Carlisle, a direct Communication is formed between Port Carlisle and Newcastle-upon-Tyne: And whereas the Company, under the Powers of the Canal Act, issued One thousand four hundred and seventy-five Shares of Fifty Pounds each, but Sixty-three of the said Shares have since been forfeited for the Nonpayment of Calls, and the Share Capital of the Company now consists of the Sum of Seventy thousand six hundred Pounds, divided into One thousand four hundred and twelve Shares of Fifty Pounds each, all paid up in full: And whereas the Company, under the Powers of the Canal Act, have raised various Sums of Money, and there is now owing on the Security of Mortgages, and of Promissory-Notes in the Nature of Mortgages, created under that Act, and constituting the First Charge on the said Undertaking, various Principal Sums of Money amounting together to the Sum of Forty-four thousand three hundred and seventy Pounds : And whereas the Com- a- pany, under the Powers-of the Dock Act, have raised various Sums of Money, and there is now owing on the Security of Mortgages created under that Act, and constituting the Second Charge on the said Undertaking, various Sums of Money amounting together to the Sum of Twenty-seven thousand six hundred and forty-five founds: And whereas, in the Year One thousand eight hundred and forty-four, the Company, for the Purpose of raising Money to pay off the Mortgage Debts of the Company, apportioned the said Debts amongst the Shares of the Company in the Manner authorized by the Dock Act, but such-Apportionment has proved prejudicial to the Proprietors, and has not enabled the Company to obtain from them the \Sm 16 & 17 VICTORIA Cap. cxix. Dock the Money necessary to discharge the said Mortgage Debts, the Sum of One thousand five hundred and twenty-two Pounds Ten Shilling only having been paid by Eight of the Shareholders, who have received Interest thereon up to the Thirtieth Day of June One thousand eight hundred and fifty-one at the Rate of Four Pounds Ten Shillings per Centum per Annum, which Sum of One thousand five hundred and twenty-two Pounds Ten Shillings was applied in paying off the like Amount of the then existing Mortgage Debt of the Company: And whereas the Traffic on the said Canal has greatly diminished, and the Revenue of the Company arising from the said Canal and Dock is insufficient to pay the Interest on the existing Mortgage Debt or Securities of the Company, and the whole of the Interest upon such Debt from the First Day of January One th ousand eight hundred and fifty-one is owing to the Holders of such Securities: And whereas it would be beneficial to the Proprietors and Mortgagees of the said Canal and Dock, and also to the Public, if the said Canal were converted into a Railway, and such Railway were made to communicate with the Newcastk-upon- Tyne and Carlisle Railway at Carlisle, so as to form One continuous Line of Rail-way Communication from the Dock of the Company at Port Carlisle to Newcastle-upon-Tyne: And whereas nearly the whole of the Line and Lands of the said Canal can be used for the Site of the said Railway, and it is estimated that such Railway can be constructed at a Cost mot exceeding Thirty-five thousand Pounds: And whereas it is expedient that the Company should be authorized to raise the Sum of Thirty-five thousand Pounds by the Creation of Preference Shares bearing a guaranteed Rate of Dividend, and entitling the Holders thereof to Priority over the existing Mortgage and otherDebts of the Company: And whereas the existing Mortgagees of the Company holding Securities to the Amount of Seventy thousand eight hundred and sixty-five Pounds, and the Holders of the said Sum of One thousand five hundred and twenty-two Pounds Ten Shillings, have consented to the Conversion of the'said Canal into a Railway, and to the Creation of such Preference Shares taking Priority over their existing Mortgages and other Securities, and the Holders" of the Sum of One thousand one hundred and fifty Pounds, the Residue of the said Mortgage Debt, having received Notice of the Application for the said Bill, have not dissented thereto: And...

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