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 projected work, but after having expended £71,100, in the main line of the canal and a collateral cut to Guilsfield, they found their funds insufficient for the completion of the undertaking, and therefore applied for a second act, which was granted in 1815, as 'An Act to authorize the raising of a further Suns of Money to complete the Montgomeryshire Canal, and to extend the Power of deviating from, and making certain Alterations in, part of the original Plans, and for explaining and rendering more effectual, an Act of the Thirty-fourth of his present Majesty, for making the said Canal.' 

By the second act the company are authorized to vary the line and to continue it; their title was also changed into that of "The Company of Proprietors of the Western Branch of the Montgomeryshire Canal," with the powers of the former company secured to them. The former part of this canal is by the present act distinguished as "The Eastern Branch of the Montgomeryshire Canal," and is to be supplied by the present company, with water from the Severn Feeder, the property of the former company, but now transferred to the present. This act directs the raising of £40,000 in new shares, to form one capital stock with the former capital. The same officers are to be appointed for both, and in fact it is now to be considered one concern, with this exception, that the expenses of the Eastern Branch are to be paid out of the stock and profits of that branch exclusively, and the cost of the Western out of the funds raised under this act. The old shareholders are to divide five per cent. annually on their stock, and the surplus profits are to form a fund for completing the Western Branch.

The new shareholders of the Western Branch are to divide their own profits, till they receive an annual dividend of £5 per cent, when the two shall be consolidated and pass as one.