Page:Rivers, Canals, Railways of Great Britain.djvu/476

  of his present Majesty, relating thereto.' By this act the proprietors were enabled to borrow a further sum of money, and to make additional railways communicating with their canal. Five per cent, of the clear profits of the undertaking are to be invested in government securities, till a fund of £1,000 shall have accumulated for repairs of the works. The rates on various articles are to be reduced, when the proprietors are able to divide £10 per cent, on their shares, and coal is the first article so to be reduced; but when the dividend shall fall below £10 per cent. then the rates are to be advanced again. The following are the

TONNAGE RATES.
Vessels not to pass the Locks, unless the Water flows over the Waste Weir above, without special Permission.

The whole sum raised under the different acts amount to £275,330, in £100 shares. The company made nine miles of the Sirhowey Railroad, of which distance they receive the rates; they have also an annual rent of £110 from the Sirhowey Company, for allowing them to connect their railroad with these works; and they allowed £3,000 to the Brecknock and Abergavenny Company for permission to unite with that work.

This canal and its branches and railroads commence in the Usk River, not a great distance below the town of Newport, close to the termination of the Rumney and Sirhowey Railroads; passing on in a direction nearly full north and leaving Newport to the east, the canal extends by Pontypool to Pontnewynydd, a distance of more than seventeen miles and three quarters. Near this place it connects with the Abergavenny and Brecknock Canal. In its course it passes Malpas, opposite which at Crynda-Farm, is a branch canal to Crumlin Bridge. At Count-y-Billa Farm, at Risca and at Pill Gwenlly it joins the Sirhowey Tramroad; from the Crumlin Bridge Branch there is a railroad to Beaufort Iron Works; a branch