page_title: Watlington and Princes Risborough Railway
section_title: Takeover by the GWR
hierarchical_section_title: Watlington and Princes Risborough Railway / Takeover by the GWR
caption_attribution_description: Watlington railway station, Oxfordshire
context_page_description: The Watlington and Princes Risborough Railway was an independent English railway company that connected the Oxfordshire towns of Watlington and Chinnor to the main line railway network of the Great Western Railway at Princes Risborough. It opened in 1872.
  The company was always short of money and was obliged to sell the line to the GWR in 1883; investors sustained a considerable loss.
  Road vehicle competition led to a decline in usage and upon nationalisation of the railways in 1948 the line was subject to a review of its future; passenger operation ceased in 1957. A large cement works at Chinnor kept the stub of the line in use until 1989, when it closed. A heritage railway group took it over and operates successfully as the Chinnor and Princes Risborough Railway.
context_section_description: On 31 December 1881 the agreement for the use of the GWR line and Princes Risborough station expired and it was necessary to negotiate a new agreement. The Watlington Railway again raised the issue of a lease by GWR. It was quite obvious that the little Company was quite unable to pay the historic debt and any negotiation over future terms was futile, so the GWR saw the reality and an arrangement for takeover was agreed, although the process took some time.
  At the shareholders’ meeting of the Watlington Company on 16 June 1883 Taylor put the proposal to the meeting, and it emerged that he had failed to carry other shareholders with him in the scheme, although he was by far the majority shareholder. In an unrealistic and acrimonious debate, others criticised the proposal, suggesting that the financial situation might improve, and that debts due to the rolling stock company might be deferred. The GWR offer was £23,000; the line had cost £46,500 to build.
  More contentious argument followed, but eventually the sale was agreed and liquidation of the company took place, Taylor himself being appointed liquidator. The rolling stock company was also liquidated as part of the process. The transfer was effective on 31 December 1883 (although practical control had been assumed from 1 June). For reasons of his own, Taylor was obstructive over handing over to the GWR the minute books and books of accounts of the Company to the GWR, and a lengthy and unhelpful correspondence on the matter followed.
caption: Watlington railway station
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