Macclesfield Canal - Chairman's report

This page provides the Chairman's report dated July 1834 detailing matters of trade on the canal.

Report to the Committee of Management.

July 17^th, 1834

IN the Report of the Committee at the last General Meeting, in July 1833, a statement was made of the amount of Tonnages up to the 25^th March preceding, by which it appeared, that after deducting all payments and expenses up to the same period, there was a balance in favour of the Company on that day of GBP 3,420 15s. 2d. The Committee, in the same Report, expressed their expectation that the Macclesfield Canal would gradually and regularly increase; and they are happy to have it in their power to assure the Proprietors that the expectation so held out has been realized, as the quantity of Tonnage upon the Canal during the year ending on the 25^th of March last, exceeded that of the preceding year by upwards of 27,000 tons. This increase has arisen gradually and steadily, as will appear by the following Statement, showing the comparative amount of Tonnages in each Quarter of the Two Years:

 
The Committee feel equally assured, as they did last year, that the increase in Tonnages will still continue. In support of which opinion, it will only be necessary to mention that the quantity of Tons carried on the Canal during the Quarter ending on the 24^th June last, was 34,550½, producing a Tonnage of £[GBP]2,028 0s. 1¼d, being about 45 per cent. more than the Tonnage for the corresponding Quarter in the preceding year.

As the Receipts are now considerably above the Expenditure, the Balance in favour of the Company on the 25^th March last, when all Charges and Outgoings up to that period had been satisfied, is £[GBP]5,270 2s. 0¾d.

Under these circumstances, and as a regular increasing Income may now be fully calculated upon, the Committee recommend that a Dividend of £[GBP]1 per Share should be made. The amount standing to the Credit of the Tonnage Account would be sufficient to pay a larger Dividend, but the Committee think it desirable not to exhaust this Fund at the present.

The Committee have lately inspected the whole Line of the Canal; and from their own observation, and the Report of Mr. Nicholls, the Resident Engineer, they are able to state that the Works are in good repair.

The Committee have to mention that in January last, Mr. Cririe, being about to give up attending to his profession, resigned the situation of Law Clerk to the Company. As the Nomination of his Successor until the General Meeting, was by the Act of Parliament vested in the Committee, they appointed Mr. Heelis to the Office. That appointment expires this day, and the duty of naming Mr. Cririe's Successor now devolves upon the Proprietors.

EDWARD STANLEY,
                          CHAIRMAN