Complex sentence: In 1859, two further schemes to convert the canal into a railway were proposed; one, from a company called the Central London Railway and Dock Company, was accepted by the directors, but once again the company failed.
Split into simpler sentences: In 1859, two further schemes to convert the canal into a railway were proposed. One, from a company called the Central London Railway and Dock Company, was accepted by the directors, but once again the railway company failed.