Page:Rivers, Canals, Railways of Great Britain.djvu/599

  'making necessary Cuts for better effecting the said Navigation,' are hereby incorporated by the name of" The Company of Proprietors of the Sleaford Navigation, in the county of Lincoln."

The act authorizes them to make navigable the Sleaford Mill Stream and River Kyme Eau, and for that purpose to raise amongst themselves the sum of £13,000, in one hundred and thirty shares of £100 each; and, if necessary, a further susn of £6,500, either amongst themselves, by the creation of new shares, or by mortgage of the tolls. The dividend on these shares is limited to £8 per cent and should the income in any year be more than sufficient to pay this dividend, the tonnage rates are to be reduced in proportion to such excess; a sum of £1,000 having been first funded to meet any deficiencies. The act of parliament empowers the company to take the following

TONNAGE RATES.
For every Ton of Lime or Lime-stone, Manure for Land or Materials for Roads, One-half of the several Rates aforesaid, and in proportion for any greater or less Weight than a Ton.

In Consideration of the great increase of Tolls which it is supposed the completion of this Navigation will cause on the River Witham, it is provided by this Act that Boats or Vessels passing through a Lock on this Navigation and paying the Rates thereon, and from thence to the River Witham, shall only pay Half the usual Tonnage Rates levied on that River.

The rates and tolls collected to be free from all taxes and assessments whatever.