Page:Rivers, Canals, Railways of Great Britain.djvu/316

 the sum of £65,000, by four instalments of £16,250 each, viz, on the 24th July, 1818, the 2nd August and 7th December, 1819, and 11th of August, 1820; and the last-recited act gives authority to the commissioners above-mentioned, to advance the further sum of £60,000, in part of the £150,000 which the act empowered them to raise. It is further enacted by the 3rd George IV. that the management shall be vested in a committee of fifteen proprietors instead of nine.

The last act relating to this canal received the royal assent on the 10th June, 1825, and is entitled, An Act for enabling the Gloucester and Berkeley Canal Company to raise a further Sum of Money; and for altering, amending, and enlarging the Powers and Provisions contained in the several Acts for making the said Canal; in the preamble of which it is stated, that the sum of £430,000, which the several preceding acts enabled them to raise, had been expended on the work relating to this canal, but that the further sum of £50,000 would be required; this act, therefore, enables the company to borrow this sum upon the same securities as is prescribed by the preceding acts. For the purpose, however, of paying off simple contract debts, the company may issue £15,000 of the £50,000, in transferable promissory notes of £100 each, payable in ten years. Of the £150,000 which the company were empowered to raise under the act of 3rd George IV. the Commissioners for the issuing of Exchequer Bills, advanced the further sum of £60,000, by two instalments of £30,000 each; and the last-recited act authorizes the commissioners above-named to advance the further sum of £35,000, as part of the sum of £50,000, which the last act authorized the company to borrow.

As the tonnage rates granted by the act of 33rd George III. are repealed by the last-recited act, the following are the rates now allowed to be collected.

TONNAGE RATES.
Vessels entering or going out of either End of this Canal, empty or in ballast, One Penny per Ton for Lockage,

Fractions to be charged as for a Quarter of a Ton.