Page:Rivers, Canals, Railways of Great Britain.djvu/603

 authorized the formation of a separate body called "The Lock Fund of the Somerset Coal Canal Company," which body was to Consist of individual proprietors of the Wilts and Berks, Kennet and Avon, and Somerset Coal Canal Companies, in equal proportions, with powers to raise the sum of £45,000, to erect the requisite lockage and to appoint deputies to manage the same, which has been carried into execution.

The first act of parliament relating to this undertaking was passed in 1794, and is entitled, 'An Act for making and maintaining a navigable Canal, with certain Railways and Stone Roads, from several Collieries in the county of Somerset, to communicate with the intended Kennet and Avon Canal, in the parish of Bradford, in the county of Wilts,' and incorporates a number of persons therein named by the title of" The Company of Proprietors of the Somersetshire Coal Canal Navigation," and authorizes them to raise, for the purposes of the act, the sum of £80,000, in eight hundred shares of £100 each; and, if necessary, a further sum of £40,000, either amongst themselves or by mortgage of the tolls as security. This was followed by a second act of parliament in 1796, entitled, 'An Act to vary and alter the Line of a Canal authorized to be made by an Act, passed in the Thirty-fourth Year of the Reign of his present Majesty, and to alter and amend the said Act.' This act authorizes the company of proprietors to make various alterations and deviations in the line of the canal and railway.

The last act of parliament relating to this undertaking was passed in 1802, and is entitled, 'An Act for enabling the Company of Proprietors of the Somersetshire Coal Canal Navigation to vary and alter the Lines of the said Canal and Works, and to alter and amend the Powers and Provisions of the several Acts passed for making the said Canal.' It states that the sums of £80,000 and £40,000 authorized to be raised under the former acts respecting this navigation, have been contributed amongst themselves and expended in the prosecution of the work, and that the shares have consequently become of the, value of £150 each. The act authorizes a deviation in the original lines, the expense of which was estimated by Mr. W. Bennett, in 1801, at £33,222, 15s. 2d. and empowers the company to raise a furthersum of