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Railway Companies Borrowing Powers Report of Lords Select Committee
A Lords select committee reports on restraining railway directors from exceeding Parliament set borrowing limits and from evading capital conditions. It urges compulsory debenture registration, priority for statutory debentures, and disallows creditor seizure of stock, warning against patchwork rescue by private Acts and urging public transfer of failing lines. The report cites Lloyd’s Bonds and references the Tewkesbury and Malvern case as example.
MENTIONED IN THIS ARTICLE
Lloyd’s Bonds
Lloyd’s
House of Commons
Tewkesbury and Malvern