Page:Rivers, Canals, Railways of Great Britain.djvu/701

 nineteen shares of £100 each, and, if necessary, a further sum of £150,000, either amongst themselves or by mortgage of the tolls and rates; and directs that five per cent. interest shall be paid to the subscribers until the work is completed, and authorizes their taking the following

TONNAGE RATES.
And in proportion for.any greater or less Quantity or Distance; Fractions of a Quarter of a Ton to pay as a Quarter, and any Fraction less than Half a Mile as a Half Mile.

Barges passing any Lock, when the Water does not flow over the Waste Weir, with any of the Goods, first enumerated, on Board, to pay One Penny per Ton per Mile in addition to the Half-penny hereinbefore charged. Goods remaining on Wharfs more than Forty-eight Hours, to pay such Rates as may be agreed on.

Boats under Twenty Tons to pay for Twenty Tons when passing a Lock.

The rates to be exempted from taxes until the annual dividend on shares shall be five per cent.

The canal to be completed in seven years; and if the Kennet and Avon Canal Company obtain an act for bringing their canal to the Wilts and Berks at Semington, then that portion of the Wilts and Berks Canal from Semington to Lady Down, to be transferred to the former company.

In 1801 another act was passed, entitled,  'An Act for enabling the Company of Proprietors of the Wilts and Berks Canal Navigation, to raise Money for completing the said Canal, and to alter, explain and amend the Act passed in the Thirty-fifth Year of the Reign of his present Majesty, for making the said Canal,' which authorizes the company to raise a further sum of £200,000, by creation of new shares and by optional notes.

Another act was obtained in 1810, which contains only a few clauses respecting the application of money; besides repealing that clause of the first act, restricting the conveyance of coal below Reading, and allows it to be conveyed as far as Staines Bridge.