THE CAREER OF THE MANCHESTER CORPORATION.
The 'Manchester,". Corporation,' in/1874, had : less ; t. of ;•' share: ;■' caflital. paid ! upy and 'no ■ The .paid-up' capital; ,'.was;.'increased to ■ .£22,889, m -1875,'
but" meantime.": the ,D\to. of Manchester had lent the institution JE15.000 on mortgage. (This amount was shortly afterwards repaid. In 1877 the share capital was increased to «C45,000i and in 1878 to x' 52,000, and in that year,' the Earl'of Denbigh, . brother to General ; Feilding, lent: the corporation In : 1879, the capital was.further increased by the issue of 107,000 i JEI: shares. By 1885, ss. per share of this amount had ,been. called; up, making the paid-up capital ,£76,948 10s. BetweenlSSs and. 189 i the. whole of the iC70,000 borrowed from the Earl of Denbigh had been, repaid, i. In nineteen
years the.company paid in;dividends. lii 1875 the company's rural land was sold at £2 ss. per acre; in 1877-at je2 10s.. .', Tha first sale of town- lands' in 1876 was at JKS per acre; in 1877 at £29 per acrej'in ISWto £160 per acre. Thaee sections -are now valued, in numerous instances, at from £U) to iM per foot It is worth recording that by 1894 tto-omporation had disposed of the whole of the Manchester except 210 acres. •
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Dominion, Volume 3, Issue 728, 29 January 1910, Page 12
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207THE CAREER OF THE MANCHESTER CORPORATION. Dominion, Volume 3, Issue 728, 29 January 1910, Page 12
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