THE MANCHESTER SHIP CANAL.
Public interest in the Manchester Canal is revived by the announcement that the prospectus will shortly be issued by Messts Rothschild, and that the contract for the construction of the works has been let to Messrs Lucas and Aird for the sum of £5,750,000, or £560,000 less than the pm liamentary
estimate. As a matter of fact a prospectus was issued for “ private and confidential” circulation nine months ago, and it set forth in glowing colours the enormous advantages lha't would directly accrue from the undertaking to the commerce and industiies of a population exceeding 7,000,000, extending over an area of 7500 square miles, apart from the collateral benefits arising from communication with adjacent districts. In this early prospectus the total capital outlay was set down at £9,032,972. That is, no doubt, a great outlay for the realisation of an idea, but the promoters are men of almost unlimited faith, and the golden future disclosed to their enchanted vision a dividend of 18 per cent, on the total share capital of the company, with provision for a reserve fund at the rate of £131.905 per annum. What the actual resu t of the public appeal for subscriptions may be, remains, of course, to be seen.—Liverposl Mercury, July 24.
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Bibliographic details
Kumara Times, Issue 3084, 21 September 1886, Page 3
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212THE MANCHESTER SHIP CANAL. Kumara Times, Issue 3084, 21 September 1886, Page 3
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