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  1. #1
    kermie62
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    Default Railway subscription contracts

    Hello

    I am hoping someone can explain something to me.

    I have come across an ancestor who is listed in a book called:

    "Sessional Papers of the House of Lords"

    Accounts and Papers

    Railways (Subscription Contracts)"


    The entry lists his name, occupation, place of abode, numerical references to the Titles of the Railway", amount

    Can anyone explain what railway subscriptions are?

    Thankyou

  2. #2
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    Join Date
    Oct 2004
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    Kent
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    Default

    If a group of individuals wanted to set up a railway company, they had to deposit
    a detailed application for a railway Bill with parliament in the November prior to the
    parliamentary session. Part of the parliamentary submission included a subscription
    contract, containing the names, addresses, and occupational details of shareholders who
    had paid up 10 percent, and who had jointly undertaken to provide 75 percent of the
    company’s capital.

    Source: https://pure.qub.ac.uk/portal/files/...yInvestors.pdf

    In other words, Your ancestor was a shareholder.

  3. #3
    kermie62
    Guest

    Default

    Thanks Peter

    I am impressed that it required an Act of Parliament to set up a company though I guess they didn't have the same regulators we do today. I also suspect it probably gave them some additional privileges with respect to access to land.

    thanks Again

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