The Dorset County Express and Agricultural Gazette.
Dorchester, Dorset, England, 1880-12-07 00:00:00

PROSPECTUS.

THS COMPANY Has BUS INCOPPOR %Tin for the par-
Poses of constructing and maintaining • direct and
Independent Line f Railway from Hull to the centre
of the South Yorkshire Coalfield, near Barnaley, to-
gether with a deep-water Dock as Hull, of an area of
46 acres.
The Railway will form emnections Westward, as
shown on the accompanying map, with the existing
Railways of the Lancashire and Yorkshire; West
Riding and Grimsby ; Midland; Manchester, Sheffield,
and Line .inahire Companies; and through them with
the Yorkshire Lines of the Great Northern and Lon-
don and North-Western Railway Companies.
Ths execution of the Raileay and Dock has been
let to Messrs. Imeas and Aird by Contracts providing
for the completion of the works in four years, and at
prices which will bring the coat within the authorised
money powers of the Company, and leave • sufficient
margin for the equipment of the Railway ; they also
covenant to Pay interest at 5 per cent, per annum,
hawyearly (on theist January and let July), until the
314 I tecember, 1884, on all amounts for the time being
paid up.
The Hull Corporation have, by agreement, con-
firmed no 'er. and scheduled to. the Company's Act,
wild to the Company about 126 acres of Land and
Foreshore, for the c mstruction of the New Dock, and
other works connected therewith, for £4OO per acre
or, at the option of the Company, an annual rent-
charge of 000 per annum, and upon such other
terms and conditions as are therein mentioned.
Power is also given to the Hull Corporation under
the Act to subscribe £lOO,OOO to the Company's Share
Capital. which they have by unanimous resolution
decided to do. They are also empowered to appoint
two Members of the Town Council to be Directors ef
the Company. This power they have exercised.
HPLI, RAMIS AS THE THIRD PORT IN THE UNITID
Ktkorrow, next e'ter London and Liverpool- -having
• trade, as measured by the declared values of the
annual Imports and Export., nearly double that of
Glaag ew—end so ergarried is the onl y port of equal
import Inc witich.possesses but one direct means of Bail.
way coniationicatton *IAA the adjoining Inland mons-
faduring know
From the year 1870 to the year 1880 the rateable
value of the Parliamentary Borough ham increased
58 per cent, and the number of dwelling-houses more
than 33 per cent.
During the same period (10 years) the tonnage of
Shipping upon which Deck dues have been paid
ha. incres-eri from 1.487,881 tons per annum to
4414.600 (the estimated returns for the Jurrent year),
or 62 per cent.
Ships of the largmt class can reach Hull at dead low
water, an advantage not pnenenved by the great ports
on the Thames. Mornay, Clyde, and other rivers.
Hull is within easy reach of the South and West
Yorkshire Coalfields, and the West Riding manu-
facturing towns; and is al.o the most important Manu-
facturing and Trading Town and Port on the Humber.
Hull has hitherto suffered from the disadvantage of
not being treated sa • Coal Port in Bilis of Lading,
Charter Parties, &c., of vessels trading to the Port,
Us. principal cause being that the oost of the Coal, and
Use delay ip the despatch of it, are considerably
enhanced. PLAIT
by the present conditions of Railway
transit to Hal from the Yorkshire Collieries, and
pertly by the mist sad delay of Shipment at the present
Dodo, arising from the deficiency of suitable Dock
Accommodation, apd the inefficiency of Coal Shipping
Appliances.
The inability to insure return (or outward) cargoes
to Vessels entering with Merchandise, As., is shown
by the large proportion of Shipping which left the
Port in Ballast to obtain Coal fin most instances) at
other Porte in 1878 and 1879, as follows ;
Hull 24iper asst.
As compared with the Tyne Porta... „
Carliff 4 ir
Swam 4 „
Goole

Swansea

1,
1,

4- ,-,

To Purring • REIUDT and to secure a certain and
remunerative source of traffic the Line takes • direct
route to Cudworth, near Barnsley, serving either
directly or through the Midland Railway, the following
C,ollteries, viz., South Kirkby, Monckton Maio,
Carlton Main, Monk Bretton, Old Oaks, Wath Main,
Houghton, Manvenb Roundwood, Aldwark, and Carr
Holm, Thrybergh and Rawmarsh.
From Cudworth the Line is continued to Stairfoot
Junction, forming a direct connection with the New
Oaks Colliery. and obtaining, through the Manchester,
Sheffield, and Lincolnshire Railway, communication
with a vast network of South Yorkshire Collieries.
By means of Junctions formed at Elemsworth with
the West Riding and Grimsby Railway, and at
Health with the Lancashire and Yorkshire Railway,
communicsti n will be obtained with the entire system
of West Yorkshire Colleries.
The Railway between Cudworth and South Kirkby
traverses a C,nalfield at present entirely undeveloped,
under which the best Barnsley Cool has been proved
to attain its greatest thickness.
It appears from the exhaustive report of the Royal
Commission on Coal, dated July, Isp, based upon
evidence and inquiries spending over thseAureviona
five year', and supported by recent Inv atione,
that the esstern limit id tbe Yorkshire basin
extends to the neighbourhood of Snaith and Drax,
which latter place is on the proposed Railway, about
twenty,six miles from Hull.
The facilities to be afforded by the PruPund Rail'
way and Dock must lead to • large extension of the
tra& in Yorkshire Coal, for export, and the creation
of a Coal trade to London by sea in competition with
.ssient means of transport by land.
tbsTbe Line terminate, at its eastern end at the pro.
jected Dock, which will have a water space of 46 sores
, area, entered by a Lock 500 feet in length and 75 ,
feet in width, with • depth of 34 feet of water over
the sill at high water of ordinary spring lid., , capable,
therfore, of accommodating the largest clam of shill-
Eing. The Dock will be surrounded by sPadotta
l:lays. 80 acres in extent, and will he provided with
' t most modern appliances, worked by hydraulic
machinery of the most approved construction, for the
rapid and economical shipment of Coal. and the loadLdischareg of regrew._
War, uses,
Transit Sheds, and other
adjunct, will also be provided for the accommodation
ofthe principal trades of the Port, especially those of
Thom. Giulia. Seed, Oil, Shipbuilding, ko.

No. of No, of
Year. Veseeh. Tonnage. I Year. Vessele. Tonnage.
1868
1871
1873
The r'hipping engaged in the General Trade of the
Post belonging to the Directors of the Company and
to their supporters, is enfficioet to occupy the whole of
the water spice of the proposed new Dock, if it were
at once available.
Tim ItIiLWAT fem.:we= proposed Dock to its June-
don with the , Sheffield, and Lincolnshire
Railway at Stairfoot, near Barnsley, is 56 railes In
length, and, including Junction Lines with other
itawaye, measures 661 miles.
The prices at which the works have been let bring
the cost per mile of line much within the averse., cost
of Railways in Rngland, and especially of main Trunk
lines with which this Railway may fairly be compared.
The Line runs for about half its length through a
perfectly level country, and where the works are
heaviest the material is chalk, which ia most favour-
'able for Railway construction.
Fer some miles out of Hull the Line will open out
the finest residential country in the neighbourhood,
will give a vigorous impulse to the development of
that district, and a valuable suburban traffic may be
confidently looked for..
It passes for nearly five miles through the Magneehui
Limestone, which will form an additional source of
traffic, being close to the surface, practically hien-
haustible, and already worked for building purposes.
The population of that part of Yorkshire, which will
be se, wed by the Railway and existing Lines of other
Companies with which it will he connected, amounted,
according to the Census of 1871, to 1,765,762 inhabi-
tants, or according to the estimates for the present
year to about 2,000,000. The following are a few of
the largest Towns in the West-riding embraced in that
area—Leeds, Sheffield, Bradford, Barnsley, Wakefield,
Halifax, Dewsbury, Hudderefiel I, Batley, Keighley,
Rotherham, hiaxborough, Pontefract, Cleckheaton,
Heckmondwike, Ossett, Shipley, Morley, Bingley,
Eland, Brighouse, &c.
The Line will command a Isrge and remunerative
Goods and Passenger traffic between Hull and the
great manufacturing districts of Yorkshire and Lan-
cashire.
The alvantages to be obtained by the undivided
ownership and uncontrolled working of a Railway and
Dock combined, can hardly be over-rated. The Dock
will act as a feeder,—a constant source and attraction
of Goods traffic, in both directions.
THI NORTH-EASTUN %LOMAT COMPANY MAIS PAID
AN AVERAGE Divines's, on it. Consols (Ordinary
Stock) over the past 10 years of £7 18.. 63 per cent. per
annum, the dividend for the half-year ending 30th
June, 1880 (the wont half generally in regard to earn.
ings), being at the rate sd 8 per cent. ;pm annum, the
highest dividend paid in yours pr 'ceding the recent
long period of depression having been 9 per oent, per
annum.
The Hull and Selby Rail wny, Previous to its pur-
chase by the Northßaatern Railway s'ompany, wan
leased by them in 1845 at a guarent-ed dividend of 10
percent. per annum ; in spite, f the f .1 that the lease
included about an equal mileage of comparatively
unprofitable lines going nos thward, through a scantily
populated district.
From the evidence Riven in the course of the Paella-
mentary inquiry on the Bill, it was proved beyond
quention that the passenger, minced, and goods traffic
passing over the first 17 miles of the Hull and Selby
Line out of Hull, yieltied more than three times the
average grow earnings per mils, of the whole of the
remainder of the North- East-srn System of upwards of
1,400 miles.
Ills apparent, therefore, that the gross earning' of
that portion of the Hull sip' Selby Line amount La at
least £12,000 ire mile per annum.
Looking to the facts previously stated as to the
increase of poniulation, the progresaive character of
the Hull Shipping Trade; the conserinent continu us
growth of the Railway traffic botween Hull and South
and West Yorkshire; and the opening up of pew
sources of mineral traffic, si very large amount of
earnings per mile of line may he confidently expected.
Bur, assuming that the earnings only reach £5,000 per
mile of line per annum, such a return will be eufficient
te yield a dividend on ths estimated oat of the Rail-
way part of the undertakipc, altor providing for
interest on Loins and lichen' ure Stock, of 8 ler cent.
per annum.
SVlh respect to the above c.,lculation it most be
remembered that inasmuch as this i. a Main Line,
unencumbered with unprofitable br tnchee, and as it is
probable that the estimated ea-ninga of £l.OOO per
mile will be exceeded, a still better dividend them that
indicated above may he reasonably anticipated.
The Dock will be without doubt exceedingly
remunerative. The present Hull Dodo, notwithstand-
ing certain drawbacks in assist ucti, n and other circum-
stances by whlcts this Company will not be effscted.
have paid an average divibesol on ordinary stock of 5
per cent, per annum from 1861 to 1878 inclusive.
The Albert Hock, the largest modern Hock at Hull
(and the only one with widsdi the proposed D-ck CAR
be at all fairly comparrdl is estimated to yield a net
return per annum of £2,285 per acre. A simi'ar sate of
list profit per acre, if earned by the pr 'pose 1 new
Dock, will yield A net Reventv of £135,110 per anqum.
being more than 9 per cent. on the estimated cost of
the Dock portion of the undertaking,. after Providing
fur interest on Loans and D.b.oture
THE ABIVX SZPARATB RIPIIMATN6 OF PROFIT GIVE TO
INVESTORS A PROSPECT of A HIGHLY SATISVACTORY

_
DIVIDUID ON THI HUM,' OY THK AUTHOhIS•D sans

CAPITAL OP ?HI GOIPARY, Arun PROVIDING PON
INTERINT ON Till £1,000,0110 BORROWING POIVIINS ON Tali

COMPANY.
The Directors, who have with many others sub-
scribed largely towards the expenses of carrying the
Company's Act through Pre iament. entertain a
thorough conviction of the a .undness of the undertak-
ing, based upon pradical knowledge of the trade
requirements of the Town and p..r t of !lull, and of the
Districts with which it is proposed to place it in
Independent communication.
Applications for Shares may be made on the
enclosed Form, ac2ompisob..l by a payment of 10e. ;Y.:.
Share on the number of Shares applied for, and be
forwarded to the Bankers, Messrs. SMITH. PAYNE, and
Sutras, Lombard-street, London ; or Messrs. Samuel
SMITH BROTHERS and Co., Hull; or to any of the
following Banking Firms, who have consented to act
as Agent. in their respective localities, viz. :—Noiling-
Isom, Mews. Saxon SMITH and Co.. and at all their
Branches; Lincoln. Messrs. Surat. Ett.ta,ts. and CO,
and at all their Branches 4se4s, inn YOR/PHIRIE
BANKING COMPANY, LlMitild, and at all its Branches;
Derby, Messrs. SAMUEL SMITH and Co ,and at Riptey ;
THE SHEEP [BID BANKING COMPANY, Limited;
Barnsley, THE BARNSLEY BANKING COMPANY.
If no Allotment be made the deposit will be returned
In full, and if a lees number of .hares than are applied
for be allotted, the surplus of the Deposit on Applica•
tion will be applied towards the amount payable on
Allotment.
Prospectuses and Forms of Application may be
obtained of any of the Banking Firms above
mentioned ; of the Brokers of the Company; and of
the Secretary, at the Offices of the Company, Hull.
THE SUBSCRIPTION WILLIE OPRIED ON MONDAY.THE
SIXTH OF DICEMBER, 1880, AND BE CLOSED ON OE
BEFORE THURSDAY, THE SItTIZifIH Drameia, 1880.
Hull, December 4th, 1880.

FORM OF APPICATION FOR SHARE 4.
To the Directors of the Hull, Barnsley, and West-
Riding Junction Railway end Dock Company,
Hull.
GINTLKIIKN,—Having paid to your Bankers at
the snm of being the
amount of deposit at 10e per gime on application for
Share/ in THS HI'LL, BARNSLKY, ANIi WAYST.
RIDING JUNCTION RAILWAY AND DOLS COMPANY. r
request you to allot me that n mbar of Sharer, and I
=to accept such Shares ( ,r any smaller number
may be allotted to me), and to pay the further
amounta due thereon according to the tenni of Pro-
spectus of the Company, dated the 4th December,
1880, and I authorise you to place mi name noon the
Register of Shareholder.' in Tun DULL, BARNSLST,
AITD WRIST-RIDING JUNCTION RAILWAY AND DOCK
Cowan in respect of the Shares to be so allotted.
Signature
Name in full
Residence
Profession or Occupation
Date lBB
Addition to be filled upif the vri,hf, to
pay up in full on allotment.
I desire to pay up on allotment in MI all shares
which may be allotted to me,
Hignature