Page:Rivers, Canals, Railways of Great Britain.djvu/270

 Between the two last-mentioned reservoirs there is a cut of communication six miles and a half in length; and from the Ridge Reservoir to the canal, the feeder is three miles and a half.

The feeder from the Seaborough Reservoir follows the north bank of the Axe by Ford Abbey, thence it turns northward, and enters the canal near Chard, being eight miles and a half in length. Mr. Telford's estimate for this magnificent undertaking was made in 1824, and amounted to the sum of £1,712,844.

The act for carrying this great work into execution, was obtained in 1825. It is entitled, An Act for making and maintaining a Canal for Ships and other Vessels, to commence at or near Seaton Bay, in the county of Devon, and terminating in the Bristol Channel, at or near Stolford or Bridgewater Bay, in the county of Somerset, with several collateral Branches to communicate therewith. The subscribers, consisting of two hundred and seventy-one persons, (amongst whom were the Earl of Cork and Orrery, the Dean of York, and Major-General Sir James Kempt,) were incorporated by the name of "The Company of Proprietors of the English and Bristol Channels Ship Canal," with power to contribute among themselves the sum of £1,750,000, in seventeen thousand five hundred shares of £100 each, the whole of which is to be subscribed before the work is commenced. The company may also borrow the further sum of £750,000 on mortgage of the rates, or by granting annuities, or on promissory notes under the common seal. In obtaining supplies of lockage water for this canal, the company are prohibited from taking any from the Rivers Parrett or Tone, or any streams which flow into them; they are also restricted from taking any but the flood waters arising on the Rivers Axe and Yarty, and Wambrook. In this act is recited a very important agreement, bearing date 28th March, 1825, between this company and the Bridgewater and Taunton Navigation Company, by which the former company agree to give the latter, for their interest in the new canal, between Bridgewater and Taunton, together with the machines and materials used in carrying on the work, the sum of £90,000, together with the sum of £7,307, 1s. 10d. owing to the Bridgewater and Taunton Canal Company, by virtue of the purchases made from the proprietors of shares in the debt due on the River Tone.