The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-08-07 00:00:00

"TO THE BIRKENHEAD DOCK TRUSTEES,

" Ist, Bouds for £90,000 bearing interest after the rate of £4
per cent. per annum, one-half of the principal sum secured by
every such bond to be payable at the end of three years, and
the other half at the end of six years.
" 2nd, Bonds for £301,436 bearing no interest for the first
year, two per cent. per annum for the second, third, and fourth
years, and three per cent. per annum for the fifth, sixth, and
seventh years, and four per cent. per annum after the seventh
year ; one-half of the principal sum secured by every such
bond to be payable at the end of seven years, and the other
half at the end of ten years.

" TO THE BIRKENICEAD DOCK COMPANY.

" Ist, Bonds for £BO,OOO payable at the end of three years,
and bearing interest after the rate of £4 per cent. per annum.
" 2nd, Bonds for £BO,OOO payable at the end of six years, and
bearing interest after the rate of £4 per cent. per annum.
"3rd, Bonds for £295,768 10s., payable at the end of seven
years, and bearing no interest for the first year, interest after
the rate of two per cent. per annum for the second, third, and
fourth years, and after the rate of three per cent. per annum
after the fourth year.
"4th, Bonds for £295,768 10s., payable at the end of ten
years, and bearing no interest for the first year, interest after
the rate of two per cent. per annum for the second, third, and
fourth years, three per cent. per annum for the fifth, sixth, and
seventh years, and four per cent. per annum after the seventh
year.

"All debts due to or by the trustees or company imme-
diately before the commencement of the act are to be received
and paid by [them respectively, and current rents are to be
apportioned between them and the corporation. Officers and
servants are to continue at their present salaries until
removed. The undertakings of the trustees and company are
amalgamated as one undertaking.
" The 17th section recites the appointment of the dock com-
mittee, under the Liverpool Dock Act, 1851, and that it is ex-
pedient that the undertaking of the corporation, under this
act, so far as now completed and adapted for the accommoda-
tion of shipping, and so, from time to time, as and when
further portions thereof shall be so completed and adapted,
should be managed by the Liverpool dock committee. This
section then enacts that so much and such parts of the under-
taking, by the act vested in the corporation, as are now com-
pleted, or as may be hereafter completed, shall, as and when
the same are adapted to the accommodation of the shipping,
be managed by such committee, who shall have and exercise
all such rights, powers, and authorities in relation thereto as
if the same formed a part of the Liverpool dock estate.
" The dock committee are to keep separate accounts of their
annual receipts and expenditure in respect of the undertaking,
and are to pay any surplus to the corporation.
"The council are, doubtless, aware that much conflict of
opinion has existed, and still exists, as to whether or not the
plan now authorised for the construction of the Birkenhead
docks is the best that can be devised for the general benefit
of the commerce of the port. This is a subject of the greatest
importance, especially when considered in connexion with the
fact that those docks will now be managed by the Liverpool
dock committee, as part of the dock estate.
"Although, therefore, the act vests the Birkenhead under-
takings in the corporation, subject to the liabilities created by
act of parliament, it was an object with your committee to se-
cure that an opportunity should be afforded for considering a
point of such vital importance, and this has been effected by
the limitation in various sections of the act, created by the
words, `until parliament shall otherwise determine.' The com-
mittee of the House of Commons expressed great anxiety that
the rates at Birkenhead should be assimilated to those at Li-
verpool, and your committee, with the concurrence of the de-
putation from the dock committee in London, entirely coin-
ciding in this view, had a clause prepared to effect this object ;
but it was found that such clause could not be inserted in this
bill, without infringing upon the orders of the house, and peril-
ling the bill. With the view of securing the completion of the
Birkenhead docks in such a manner as may be found most
advantageous to the commerce of the port, the committee of
the House of Commons inserted the 19th and 20th sections,
the first of which recites that it is expedient that the Birken-
head docks should, with as little delay as possible, be con-
structed and completed in such a manner as may render them
most available for the commercial purposes of the port of Li-
verpool, in connection with the Liverpool docks, and that the
thesam Be irrakteensledaufacaands, as are
charges
should be levied in respect of
now or may be hereafter levied
in respect of the Liverpool docks, And that all the said docks
should be ylaced perznaner4ly 11197 the same mtrol and