BRITISH RAILWAYS.

Dominion, Volume 4, Issue 1165, 28 June 1911, Page 7

BRITISH RAILWAYS.

MIDLAND COMPANY BUYS UP A •LINK. Cj Telegraph—Pres3 Association—Copyrieht London, Juno 20. The shareholders of the London, Tilbury, and Southern Railway have approved the sale of tlie company's property to the Midland Railway. The authorised capital of the London, Tilbury, and Southend Company, including loans, is 303,450. The Midland Company has an authorised capital, including loans, of X 193,900,416. The consideration for tho transfer will bo the issue to debenture and preference stockholders in the London, Tilbury, and Southend Railway Company of stock of t'hc same denomination in the Midland Railway Company producing an equal return, and the issue to the ordinary stockholders of ,£2lO Midland Railway 2J per cent consolidated perpetual preference stock in exchange for each .£IOO of London, Tilbury, and Southend Railway ordinary stock. The opinion in the market (says "Tho Times") is that, unless tho Great' Eastern has received some very valuablo consideration, that company will oppose the sclicme in Parliament strongly, as it is agaiust the Great Eastern Company's interest to have a very powerful opponent like the Midland coming into its district.