Stratford-upon-Avon Canal Navigation Act 1809

Publication Date:January 01, 1809
 
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Stratford-upon-Avon Canal Navigation Act 1809

(49 Geo. 3) c. xlii

An Act to amend and enlarge the Powers of the several Acts relating to the Stratford-upon-Avon Canal Navigation.

[12th May 1809]

ANNO QUADRAGESIMO NONO #*##*&*&^^ Cap. 42. An A61 to amend and enlarge the Powers of the feveral Acts relating to the Stratford-upon-Avon Canal Navigation. [12th May 1809.] W HEREAS an A& was paffed m the Thirty-third Year of the Reign of His prefent Majefly, intituled, An Aft for making 33g. and maintaining a Navigable Canal from the Worcefter and .Birmingham Canal Navigation in the Parijh of King's Norton, into the Borough ^/"Stratford-upon-Avon, andalfo certain Collateral Cuts from the /aid intended Canal, whereby certain Perfons therein named, and their Succeffors, Executors, Adminiflrators, and Afligns, together with fuch Perfon or Perfons as they fhould nominate and appoint under tbeir Hands and Seals, were united into a Company for carrying on, making, completing, and maintaining the faid Navigable Canal and Collateral. Cuts paflable for Boats, Barges, and other VefTels, and were incor. porated by the Name of " The Company of Proprietors of the Stratford-upon-Avon Canal Navigation," and by that Name were to have perpetual Succeflion and a Common Seal, with fuch Powers as in the faid A£t are mentioned; and the faid Company of Proprietors were au thorized and empowered to raife and contribute among themfelves, in fuch Proportions as to them fhould feem meet and convenient, a competent Sum of Money for making and completing the faid Canal and Col- £Loc. fcf PerJJ 9 T lateral 822 49GEORGII III. Cap. 2. lateral Cuts, and the Refervoirs, Feeders, Ways, Quays, Wharfs, and other Works and Conveniences to the fame belonging or requifite, not exceeding in the Whole the Sum of One hundred and twenty thoufand Pounds {except as therein-after mentioned; and the Money fo to be raifed is thereby directed to be laid out and applied in the firft Place for and towards the Difcharge of all Fees and Diiburfements for obtaining the faid Ad, and for making the Surveys, Plans, and Eftimattes incident thereunto, and all other Expences relating to the fame, and all the Refi-due of fuch Money for and towards the making, completing, and maintaining the faid Canal and Collateral Cuts, and other Purpofes ofche faid Ad, which faid Sum of One hundred and twenty thoufand Pounds, or fo much thereof as fliould be raifcd by the feyeral Ferfons therein named, was to be divided into One thoufand two hundred Shares, at a Price not exceeding One hundred Pounds a Share, as therein is mentioned; and in cafe the faid Sum of One hundred and twenty thoufand Pounds fliould be found inefficient for making, completing, and maintaining the faid Canal? Collateral Cuts, and other Works by the fai;J Ad authorized and direded to be made, and all neceffary Charges and Expences relating thereunto, then the faid Company of Proprietors are thereby authorized to raife and contribute among themfelves in Manner in the Lid Ad mentioned, any further Sum of Money for the Purpofes of the faid Ad, not exceed* ing the Sum of Sixty thoufand Pounds; and in cafe the faid Company of Proprietors fliould be defirous of raifing the faid Sum of Sixty thoufand Pounds by Mortgage of the faid Undertaking, they are thereby empowered to borrow and take up at Intereft the faid Sum of Sixty thoufand Pounds or any Part thereof, upon the Credit of the faid Undertaking, as to them fliould feem fit and convenient, and to aflign the Property of the faid Navigation and the Rates granted by the faid Ad to the faid Company of Proprietors, or any Part thereof, as a Security for the Money fo to be borrowed, with Intereft for the fame, to fuch Ferlon orPerfons as 35-G.-3.c7s http://35-G.-3.c7s . ihall advance theTame : And whereas by another Ad paffedin the Thirty-fifth Year of the Reign of His faid prefent Majefty, intituled, An AB Jor making a Navigable Cut from the Stratford-upon-Avon Canal in the .Parifh of Lap worth, into /fo Warwick and Birmingham Canals in the Manor of KSng\vtoo&, in the County of Warwick, the faid Company of Proprietors were empowered, in cafe the Money authorized to be raifed . and borrowed by virtue of the faid recited'-Ad, fliould'be found infufHcienc for making, completing, and maintaining the faid Canal and other the Works thereby authorized-to be made, and alfo the faid intended Cut and other the Works by the Ad now in'recital authorized to be made, to borrow and take'up at Intereft any further Sum of Money not exceeding Ten thoufand Pounds, upon the Credit of their faid Undertaking, as to them fliould feem fit and conven ent, and to aflign the Property of the Navigation of the faid Stratford-upon-Avon Canal, and the faid intended Cut and the Rates yarned by the faid recited Ad and the Ad now in recital, to the faid Company of Propietors or any Part thereof, as a Security (or the Money (o to be borrowed, with the Intereft for the 39 G. 3. c. 60. fame, to fuc: ?? Perfon orPerfons as ihould advance the fame: And whereas by another Ad, paffed in the Thirty-ninth Year of the Reign of His prefent'Majefty, intituled, An Aft for authorizing the Company of Proprie* tors of ^'Stratford-upon-Avon Canal Navigation, to vary the Courje of certain "Parts-df'the faid Canalj direded to be made by an Att paffed in the Thirty- 49 GE0RGI1 III. Cap.42. Thirty-third Tear of the Reign of llis prefnt Majefly^ and alfo to make a Branch out of the faid Canal, and alfo to vary the Gmrfe of a Navigable Cut directed to be made from the faid Stratford-upon-Avon Canal, in the Parijh of Lapworth* into the Warwick and Birmingham Canal, in the Manor sf Kingfwood, in the County ^Warwick, by another ASl paffed in the Thirty fifth Tear of the Reign of His prefent NLajefly, and for amending the faid Ails ; the faid Company of Proprietors of the faid Strafford upon^ Avon Canal Navigation were authorized and empowered, in order to eft-able them to complete the faid Canal, Cut, and Branch and other Works authorized to be made by the faid recited Ads and the Aft now in re-citai, to raife, either by Subfcription among themfelves or by the Admif-fion of new Subscribers, or otherwife in the Aft now in recital mentioned, any further Sum of Money which, with the Sum of Ten thoufand Pounds authorized to be borrowed under the faid laft recited Aft, (hould not exceed the Sum of Forty*five thoufand Pounds; and in cafe the faid Sum of Forty-five thoufand Pounds or any Part thereof, fhould be raifed by Subfcription, the faid Sum fhould be divided into One thoufand two hundred Pounds Quarter Shares, each Quarter Share to be of the Value of Thirty-feven Pounds Ten Shillings: And whereas the faid Company of Proprietors have in Part executed the feveral Works direfted by the faid recited Afts, and have for thofe Purpofes raifed by Subfcription among themfelves the whole Sums of One hundred and twenty thoufand Pounds and Sixty thoufand Pounds, and have expended thereon and in the Execution of the faid recited Afts the Whole of fuch Sums, except the Sum of Twentyfix thoufand two hundred and twenty-eight Pounds Ten Shillings and Eight.pence, the Amount which remained due out of Two hundred and nineteen Shares forfeited to the Company, and which has become a Part of their joint and corporate Stock, and have alfo taken up at Intereft the Sum of Two thoufand fix hundred and ninety Pounds under the Authority of the faid Two laft recited Acts, and have applied the fame Money for putting the faid Afts in Execution ; and the faid Company of Proprietors have incurred in the Profecution of the faid Undertakings Debts to a large Amount, which they now owe, and a great Part of the faid Undertakings remains unfinifhed, whereby the Public are deprived of the Benefit and Advantage formerly held forth to them, and whereby the Proprietors of Shares in the faid Undertakings are lofing thofe Benefits which were expe&ed to arife to them from the faid Navigation: And whereas the Price or Sum mentioned in the laft above recited Aft for the Admiffion of new Subfcribers, was fo high that no Perfon would fubfcribe or take any Share or Quarter Shares therein, or applied to take or did take any Annuity authorized to be granted by the faid Two laft recited Afts or either of theiji, nor [could any Money be raifed on the Security thereof except the faid Sum of Two thoufand fix hundred and ninety Pounds as before-mentioned : And whereas the faid Company of Proprietors have hitherto found it impracticable, by any of the Ways and Means authorized by the faid Two laft recited Afts, to raife Money for difcharging their faid Debts, and for carrying on, completing and finifhing the Works of the faid Navigable Canal and Collateral Cuts and Branch, and they have no other prafticable Means of railing the fame without the Aid and Afliftance of Parliament: And whereas the Powers and Provifions of the faid feveral recited Afts have in other Refpefts besn found infufficient and inconvenient, and it is requifite 6 that 824. 49* GE0RGI1 III. Cap,^2. that the fame /hould be altered and amended ; May it therefore pleafe Your Majefty that it may be enafted j and be it enafted by the King's mod Excellent Majeily, by and with the Advice and Conknt of. the Lord? Spiritual and Temporal, and Commons, in this prefent Parliament rowe toraifc aflembled, and by the Authority of the fame, That it (hall and maybe of Money;11"1 kwftd fr r^e fa*d Company of Proprietors, and they are hereby authorized and empowered to raife fuch Sum or Sums of Money, not exceeding in the Whole the Sum of Ninety thoufand Pounds, and fuch additional Sum as herein-after mentioned, in cafe the fame fhall be found neceffary for the Purpofes aforefaid, over and above the before-mentioned Sums of Money, notwithftancing that the fame Sums have not been wholly raifed and received; any Thing in the fYid Afts, or any or either of them, contained to the contrary the/eof notwiihftanding, Mode oF ^" ^m' be it...

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