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
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Thread: Railway subscription contracts
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29-01-2018, 1:40 PM #1kermie62Guest
Railway subscription contracts
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29-01-2018, 5:33 PM #2
- Join Date
- Oct 2004
- Location
- Kent
- Posts
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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.
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29-01-2018, 11:28 PM #3kermie62Guest
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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