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Day Log/1838-07-28

From Festipedia, hosted by the FR Heritage Group

On this date, an act that the company had laid before Parliament to seek additional powers to raise capital, was passed. The act empowered the company to raise a further sum of £12,000 in shares of £25 each, and to borrow on mortgage, the sum of £4,000 - but only after the share allotment had been subscribed to, and at least half paid. As an alternative to the mortgage option, following the issue of the £12.000 trnache of shares, it could alternatively issue another £16,000 shares..[1]

References[edit]

  1. ^ Johnson, Peter (2007). An Illustrated History of the Festiniog Railway. Hersham: Oxford Publishing Co. ISBN 0-860936-03-1. OCLC 180463433. p17

See also[edit]

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