[1]

London and North Western Railway.

SECRETARY'S OFFICE, EUSTON STATION,     

LONDON, N.W, 23rd August, 1880.

With the Dividend Warrant, payable this day, I beg to enclose fully-paid-up Certificate for the 20 per cent, paid on the recent Allotment of Consolidated Stock, and will thank you to acknowledge receipt on the Form at Foot, at the same time returning to me the Banker's Receipt. The Interim Certificate for the Balance, — with Call Notes attached, — will be issued very shortly.

            The remaining payments in respect of the Allotment will have to be made to the Company's Bankers by Eight Instalments, as follows :—

[Darwin annotation:] Jan 22d 1880 £192 paid at 20 per cent                       

1881. 1st January  £10 per cent., and 1st July  £10 per cent.

            1882. 2nd January  £10 per cent.,  ,,  1st July  £10 per cent.

            1883. 1st January  £10 per cent.,  ,,   2nd July £10 per cent.

            1884. 1st January  £10 per cent.,  ,,   1st July  £10 per cent.

As no other intimation will be given of the Instalments as they become due, you are especially requested to observe the above dates, in order to avoid loss of interest or possibility of forfeiture of the balance of the Interim Certificate by non-payment of such Instalments.

            In reply to enquiries which have been made as to whether the Directors will at once accept payment in full of the New Stock just allotted, I am instructed to state they regret they cannot do so, the Instalments having been arranged Half-yearly so as to meet the engagements of the Company on Capital Account, and the Directors would be quite unable to make any use of the money in the intervals.

            I am further instructed to say they are unable to make additional allotments to Proprietors, as the balance left unallotted, together with any amounts that may be renounced, are, by the Resolution of the Proprietors, to be sold at such times and on such conditions as the Directors think most advantageous to the Company, but it is not proposed to sell any portion at present, the money not being needed,

STEPHEN REAY,     

Secretary.

[the bottom of the perforated form has been torn off and returned by Darwin.]