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2 By act of 1882, the company was empowered to make a farther dock, 30 acres in extent. This was opened on 6th June, 1893.

Under an act of 16th July, 1874, power was given to the company to lease its dock and other works to the Newport (Alexandra) Dock Company Limited for a term of 28 years. This lease commenced on 1st January, 1880, the lessee company undertaking to pay as rents in each year the amount of Lord Tredegar's rent-charge, the interest on the debenture stock, and if earned 4½ per cent. on the first preference stock "A," 4½ per cent. on the second preference stock "B," and up to 5 per cent. on the new ordinary stock and shares of the lessor company.

By an act passed in 1883, the Newport (Mon.) Dock Company was acquired by this company, and was amalgamated with it from and after 1st January, 1894.

By act of 7th August, 1896, modifications were made of provisions for reverter of lands to Lord Tredegar; amendment of previous acts as to Ebbw improvements, the Meudalgyf road, leasing power, extension of time for completion of South Dock, &c., for 5 years from 18th August, 1897, and other purposes.

By act of 6th August, 1897, provision was made for the surrender of the above-mentioned lease, and the dissolution of the Newport (Alexandra) Dock Company Limited; power to convert ordinary capital into deferred stock of the same amount. Additional capital, 190,000l.; borrowing powers, 60,000l.

By act of 15th August, 1904, power was given to the company to extend the Dock, authorised by act of 1882, and to execute other works, including the diversion or straightening of the River Ebbw. Additional capital, 420,000l.; borrowing powers 140,000l.

—Incorporated by act of 8th August, 1878. Vested in the Alexandra (Newport and South Wales) Docks and Railway by act of 1897.—For particulars relating to the past, see for 1897, page 287.

—30th June, 1904. —Full dividends were paid on consolidated stock "A" to 31st December, 1897, and on consolidated stock "B" from 1891 to 31st December, 1897. For the year 1898 1 per cent. only on the "A" stock. For the year to 31st December, 1899, the maximum dividends on "A" stock, "B" stock, and preferred ordinary stock, and 3 per cent. on the deferred ordinary stock. For 1900, 1901, 1902, and 1903, the maximum dividends on "A" stock and "B" stock were paid, and amounts placed to reserve. For the half-year ended 30th June, 1904, the maximum dividends of 4½ per cent. per annum on "A" stock and "B" stock, were paid, and 4 per cent. on preferred and 2 per cent. on deferred for the year 1903, and 19,889l. carried forward.

 

OFFICERS.—Sec., W. K. Macdonald; Treasurer, William J. Rollo, Banker, Arbroath.

Head Offices—Arbroath, N.B.

Incorporated by act of 17th May, 1836, for construction of a line between the Royal Burgh of Arbroath and the Royal Burgh of Forfar, 15¼ miles. Leased in perpetuity to the Caledonian at a yearly rental of 13,900l. 