Metropolitan District Railway Act 1915
| Jurisdiction | UK Non-devolved |
| Citation | 1915 c. xxii |
| Year | 1915 |
[5 & 6
GEO.
5.] Metropolitan District Railway [Ch. XXlL]
Act, 1915.
CHAPTER xxii.
An Act to make further provision respecting the capital A.D. 1915.
and undertaking of the Metropolitan District Railway
Company to confer further powers on the London and
South Western Railway Company in respect of their
Wimbledon and Fulham Railway and on the Wimbledon
and Sutton Railway Company and for other purposes.
[24th June 1915.]
W
HEREAS the Metropolitan District Railway Company
(hereinafter called "the Company") were by the Metro-
politan District Railway Act 1897 authorised to raise twelve
hundred thousand pounds additional capital and to borrow in
respect thereof four hundred thousand pounds for the construction
of the Deep Level Railway authorised by that Act:
And whereas by section 3 (Application of portion of capital
authorised by Act of 1897) of the Metropolitan District Railway
Act 1905 the Company were authorised to apply to the general
purposes of their undertaking three hundred thousand pounds
of such additional capital and one hundred thousand pounds
which they were by that Act authorised to borrow in respect
thereof:
And whereas by section 6 (Power to borrow) of the said
Act. of 1905 the powers conferred upon the Company by the
said Act of 1897 to borrow the sum of four hundred thousand
pounds in respect of the said additional capita] of twelve hundred
thousand potinds were repealed and in substitution therefor the
Company were authorised to borrow one hundred thousand
pounds in respect of the three hundred thousand pounds
additional capital which by the said Act of 1905 the Company
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Metropolitan District Railway [5 & 6
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5.J
Act, 1915.
A..D.
1915. were authorised to apply to the general purposes of their under-
taking and also to borrow three hundred thousand pounds in
respect of nine hundred thousand pounds the balance of the
said additional capital:
And whereas by section 7 (Debenture stock) of the said
Act of 1905 the Company were authorised to create and issue
debenture stock subject to the proyisions of section 67 (Debenture
stock) of the Metropolitan District Railway Act 1903 :
And whereas the Company have raised the said three
hundred thousand pounds of such additional capital and have
issued one hundred thousand pounds debenture stock in respect
thereof but the Company have not yet raised the nine hundred
thousand pounds the balance of such additional capital or
borrowed any moneys in respect
thereof:
And whereas a portion of the Deep Level Railway autho-
rised by the said Act of 1897 was under the powers of the
said Act of 1903 constructed by the London Electric Railway
Company and by the Metropolitan District Railway Act 1908
the Company were authorised to abandon the construction of
the unconstructed portion of such Deep Level Railway:
And whereas by section 26 of the Metropolitan District
Railway Act 1913 and by previous Acts relating to the Company
passed in the years 1908 1910 and 1911 the Company are
authorised to apply to the general purposes of their undertaking
to which capital is properly applicable any moneys which they
have power to raise by shares or stock or debenture stock and
which may not be required for the purposes for which the same
were authorised to be raised or borrowed:
And whereas the Company require the sum of three hundred
thousand pounds to discharge liabilities incurred by them on
capital account and for the general purposes of their undertaking
to which capital is properly applicable:
And whereas owing to the general financial position of the
Company and to the conditions brought about by the present
war such sum of three hundred thousand pounds cannot be
raised by ordinary or preference shares or stock except upon
terms injurious not only to the holders of the existing ordinary
and preference stocks of the Company but also to the permanent
interests of the Company and it is therefore expedient that the
Company should be authorised to raise the same on mortgage
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[5 & 6
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5.] Metropolitan District Railway [Ch. XXii.J
Act, 1915.
or bond or by the issue of debentures or debenture stock in A.D. 1915.
exercise of the said borrowing powers under the said Act of
1905 without being bound to raise the nine hundred thousand
pounds additional share capital specified in that Act and in
respect of which such borrowing powers are thereby granted:
And whereas it is expedient that the Company should be
authorised to widen part of their railway at Hammersmith:
And whereas by the Metropolitan District Railway Act
1912 the London and South Western Railway Company (herein-
after referred to as "the South Western Company") were
authorised to widen their Wimbledon and Eulham Railway over
which the Company have and exercise running powers and the
time for the compulsory purchase by the South Western Com-
pany of lands for the purposes of such widening was limited to
three years from the seventh day of August one thousand nine
hundred and twelve and it is expedient that the time so
limited should be extended:
And whereas the Wimbledon and Sutton Railway Company
(hereinafter called " the Wimbledon Company") were incor-
porated by the Wimbledon and Sutton Railway Act 1910
(hereinafter referred to as " the Wimbledon Act of 1910 ") and
were empowered by that Act to construct the railways and
works in the county of Surrey therein described commencing by
a junction with the South Western Company's said Wimbledon
and Fulham Railway at Wimbledon:
And whereas by section 12 (Running powers to Metropolitan
District Railway Company) of the Wimbledon Act of 1910 the
Company were authorised to run over and use the railways of
the Wimbledon Company therein mentioned and the Company
were by that Act also authorised to enter into agreements with
the Wimbledon Company for the working of the Wimbledon
Company's railways and for the supply of electrical energy for
the purposes of working the same and the Company were also
authorised by that Act to carry in through cars and carriages
on and over the said Wimbledon and Eulham Railway of the
South Western Company all traffic arising on or destined for
or passing over the railways of the Wimbledon Company :
And whereas the time for the compulsory purchase by the
Wimbledon Company of lands was by the Wimbledon Act of
1910 limited to three years from the twenty-sixth day of July
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