West Hartlepool Harbour and Railway Act 1852

Publication Date:January 01, 1852
 
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West Hartlepool Harbour and Railway Act 1852

(15 & 16 Vict.) c. cxlii

An Act for enabling the Amalgamation of the Stockton and Hartlepool Railway Company and the Hartlepool West Harbour and Dock Company, and for authorizing the Lease or Purchase of the Clarence Railway by the Stockton and Hartlepool Railway Company or the amalgamated Company, and for consolidating the Acts relating to the same Companies; and for other Purposes.

[30th June 1852]

ANNO DECIMO QUINTO & DECIMO SEXTO VICTORLE REGINiE * ? *************************************************** Cap. cxlii. An Act for enabling the Amalgamation of the Stockton and Hartlepool Railway Company and the Hartlepool West Harbour and Dock Company, and for authorizing the Lease or Purchase of the Clarence Railway the Stockton and Hartlepool Railway Company or the amalgam mated Company, and for consolidating the Acts relating to the same Companies; and for other P urposes [30th June 1852.] HERE AS an Act was passed in the Ninth Year of the Reign of His late Majesty King George the Fourth, intituled An Act for making and maintaining a Railway 9 G.4. e.6i. from the River Tees near Haverton Hill in the Parish of Billingham to a Place called Sim Pasture Farm in the Parish o/Heighington, all in the County of Durham, with certain Branches therefrom: And whereas an Act was passed in the Tenth Year of the Reign of His said late Majesty King.George the Fourth, intituled An Act to enable ]0G.4.c-.i06* the Clarence Railway Company to vary and alter the Line of their Railway, to abandon some of the Branches thereof and to make other Branches therefrom; and for altering, amending, and enlarging tKe Powers 25 T [Local.'] 2282 15 & 16 VICTORIA, Cap.cxWl The West Hartlepool Harbour and Railway Act, 1852. Powers of the Act passed for making and maintaining the said Rail way ; And whereas an Act was passed in the Second Year of the 2 & 3 W. 4. Reign of His late Majesty King William the Fourth, intituled An c. 25. £ct f0 alter, amend, enlarge, and extend the Powers of several Acts passed in the Ninth and Tenth Years of the Reign of His late Majesty King George the Fourth, for making and maintaining the Clarence Railway: And whereas an Act was passed in the Third Year of the Reign of His said late Majesty King William the Fourth, 3& 4W.4. intituled An Act to enable the Clarence Railway Company to make c-4- certain additional Branch Railways ; and to amend and enlarge the Powers of the several Acts for making and maintaining the said Railway: And whereas another Act was passed in the said Third Year of the Reign of His said late Majesty King William the Fourth, s & 4 W.4. intituled An Act to enable the Clarence Railway Company to make c- 95- an Extension of the. Line.of their Raihoay; And whereas another Act was passed in the First Year of the Reign of Her present Majesty 7 W. 4. & Queen Victoria, intituled An Act to alter, amend, explain, and enlarge i Vict. c. 103. the Powers of the several Acts for making and maintaining £/ieClarence Railway: And wThereas an Act was passed in the Session of Parlia ment held in the Sixth and Seventh Years of the Reign of Her present 6 & 7 Vict. Majesty Queen Victoria, intituled An Act for enabling the Clarence c 46. Railway Company to make an Issue of new Shares, and for otherwise altering and amending, enlarging and extending some of the Provisions of the Acts relating to the said Railway: And whereas under 4. or by virtue of the Powers and Provisions in the said recited Acts or some of them contained the Clarence Railway, Branches, and Works have been long since made, and opened for the Use of the Public: And whereas by the said recited Act of the Sixth and Seventh Years of the Reign of Her present Majesty, Chapter Forty-six, it was enacted, that it should be lawful for the said Clarence Railway Company to raise the Amount of the therein-mentioned Debts of the same Company of Seventy thousand two hundred and forty-three Pounds .Sixteen Shillings and Eightpence, Seventy-nine thousand one hundred and fifty Pounds, and One hundred and twenty-four thousand two hundred and fifty-one Pounds Seventeen Shillings and Threepence, and also of the further Sum of Twenty-six thousand Pounds, thereinafter mentioned, by an Issue of a competent Number of new Shares .of Ten Pounds each in the said Company; and it was enacted, that in order to facilitate the raising of Capital for the Purpose of. paying off the said Debt or Sum of Seventy thousand two hundred and forty-three Pounds Sixteen Shillings and Eightpence it should be lawful for the said Company from Time to Time to give to such and so many of the new Shares as they should think proper a Preference or Priority over all Mortgages, Bonds, Debts, and Charges whatsoever then due and owing upon the said Railways, Branches, and Works, except the said Debt or Sum of Seventy thousand two hundred and forty-three Pounds Sixteen Shillings and Eightpence, and 15 & 16* VICTORIA, Cap.cKlu. 2283 **=?" The West Hartlepool Harbour,and Railway Act, 1852 J. and the Interest due and to become due thereon, or so much and such Part or Parts of the same Debt or Sum and Interest as should for the ,Time being remain due and owing, and also over all other Shares whatsoever in the said Railways, Branches, and Works, by guaranteeing to the Holders or Proprietors of such Preferential Shares as well such Amount of Dividends as the said Company might think proper, not however exceeding Six Pounds per Centum per Annum from, the First Day of Novemher One thousand eight hundred and forty-two, to be paid to them before any Interest should be payable or paid upon any such Mortgages, Bonds, Debts, and Charges, (except as aforesaid,) and before any Dividend should be declared or payable or paid in respect of any other Shares whatsoever in the said Railways, Branches, and Works, as also the Repayment of the Principal Sum which should have been paid for such,Shares respectively before Principal Monies should be payable or paid upon any such Mortgages, Bonds, Debts, or Charges, (except as aforesaid,) ox upon or in respect of any other Share or Shares in the said Railways, Branches, and Works, and the said Company might guarantee such Preference or Priority in Payment of, Dividends and in Repayment of Principal: Money, or either of such Descriptions of Preference ox Priority, as they might think proper, and'that the Shares having .such Preference or Priority as aforesaid should be called " Government Loan Shares," and should be distinguished as such in the Books of the Company, and in all Certificates to be granted thereof by the Company; and it was enacted, that the Proprietors of such Government Loan Shares should not be .entitled to any of the Benefits thereby conferred upon or authorized to.be http://to.be given to such Shares until the full. Sum of Ten Pounds should have been fully paid up, and such Shares should only be issued upon the Condition that such Shares should be immediately subscribed or paid in full; and it was enacted1, that in order to provide for the Liquidation and Satisfaction of the said Debt or Sum of Seventy-nine thousand one hundred and fifty Pounds, and in order to facilitate the immediate raising of Capital for the Payment; of the Sum of-Twenty-three thousand three hundred and thirty7five Pounds Ten Shillings, Part of the said Debt or Sum of One hundred, and twenty-four thousand two hundred and fifty-one Pounds Seventeen Shillings and Threepence, and for raising the said further Sum of Twenty-six thousand Pounds, it should be lawful for the said Company, subject and without Prejudice to the said Sum of Seventy thousand two hundred and forty-three Pounds Sixteen Shillings and Eightpence, and Interest for the same, or to so much and such Part or Parts thereof respectively as should for the Time being remain unpaid, and to the said Government Loan Shares, or so many,of them as should from Time to Time be issued, to give to such and so many of the said new Shares as they should think proper a Preference or Priority over ^11 Mortgages, Bonds, Debts, and Charges whatsoever then due arid owing upon the said Railways, Branches, and 2284 15 & 16 VICTORIA, Cap. cx\\i. The West Hartlepool Harbour and Railway Act, 1852. and Works, except the Debt or Sum of Seventy thousand two hundred and forty-three Pounds Sixteen Shillings and Eightpence, -and the Interest due and to become due thereon, or so much and such Part or Parts of the same Debt or Sum, and Interest, as should for the Time being remain due and owing, and except so much and such Part-of the said Debt of Seventy-nine thousand one hundred and fifty Pounds, and Interest, as should for the Time being remain unpaid, and also over all other Shares whatsoever in the said Railways, Branches, and Works, (except the said Government Loan Shares, or such and so many of them as shall from Time to Time be issued,) by guaranteeing to the Holders or Proprietors of such Preferential Shares as well such Amount of Dividends as the said Company might think proper, from the First Day of November One thousands eight hundred and forty-two, not however exceeding Six Pounds per Centum per Annum, to be paid to them before any Interest should be payable or paid upon any such Mortgages, Bonds, Debts, or Charges, (except as aforesaid,) and before any Dividend should be declared or payable or paid in respect of any other Shares whatsoever in the said Railways, Branches, and Works, (except the said Government Loan Shares, or so many of them as should from Time to Time be issued,) and also the Repayment of the Principal Sums which should have been paid for such Shares, or in respect of which such Shares should have been allotted, as therein-after mentioned respectively, before any Principal Monies should be payable or paid upon any such Mortgages, Bonds, Debts, or Charges, (except as aforesaid,) or upon or in respect of any other Share or Shares in the said Railways, Branches, and Works, (except the...

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