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| Description | Minutes of the Clay Cross Collieries & Crich Lime Works |
|---|---|
| Date of Creation | 04 Nov 1846-06 Jul 1854 |
| Creator | George Stephenson and Company; c 1846-1850; locomotive engineers; Clay Cross Company |
| Archive Reference | STE/4/5 |
| Transcript |
Geo[George] Stephenson & Co[Company] Clay Cross Collieries & Crich Limeworks[Lime Works] 1846 3 At a Meeting of the proprietors of the Clay Cross Collieries and Crich Limeworks held at the Midland Hotel Derby Nov.[November] 4th 1846. Present Messrs Geo[George] Stephenson Rob[Robert] Stephenson Geo[George] Hudson Jos[Joseph] Sanders Sir J. Walmsley Wm.[William] Claxton It was resolved, First That the proprietors of every such share shall pay forthwith to the company Bankers the sums of £3500, & the proprietors of every 12th share £1750 to repay the present debt of the company to their Bankers & Others. Second That at the termination of the present year the whole of the profits will be absorbed by outlay on Capital Expenditure; but after that period, that no further Capital shall be expended without calling a meeting of the proprietors, & that such profit as may appear in the Balance sheet shall be divided pro rata. Third That Mr Rob[Robert] Stephenson do obtain Mr. Parker’s Law account, to the present period. Fourth That all Deeds be lodged with Mr Drabble of Chesterfield & a schedule be forwarded to each proprietor. Fifth That the Meeting of the proprietors be held half yearly on the 20th of August, & the 20th February. (over) 4 Brought forward Sixth That Mr Rob[Robert] Stephenson be authorised to make arrangements with Mr Harrison as a Travelling Agent subordinate to Mr Binns to ascertain the workings of the Trade, look after the wagons, & scrutinise the conduct of Agents employed. That two furnaces be erected at Clay Cross for the Manufacture of Iron, & that a Capital of £24000 be raised for that purpose in such sums as may be required during the progress of the Works; & the amount necessary for the Stock & Trading Capital Geo[George] Stephenson 5 At a meeting of the proprietors of the Clay Cross Collieries and Crich Limeworks held at 24 Great George Street, Westminster May 29th 1847. Joseph Sanders Esqr[Esquire] in the chair Present Messrs Geo[George] Stephenson Geo[George] Hudson Jos[Joseph] Sanders Sir Joshua Walmsley Wm[William] Claxton S. M. Peto It was resolved First That Mr. Binns do write to Mr. Mitcheson the Manager of Mr. Sparrow’s Iron Works, in North Staffordshire to request him to make a trial of the Clay Cross, bed of Tupton Coal and also of Coke made from the same Coal, and ascertain its value both as regards economy and quality for the manufacture of pig iron in Hot Blast Furnaces, and to report the result of his experiment to Mr. Binns as soon as convenient. And that Mr. Sanders be requested to write to Mr. Sparrow asking his permission for such trial to be made. Second That a first call of £500 on each 6th share, and £250 on each 12th share on a/c[account] of the Iron Works & Cottages be made forthwith, and that a further call of the same amount on each share, and for the same purpose be made payable on the first day of July next. (over) 6 Brought forward Third That the half yearly dividends be paid in the first week in August, and in the first week in February in each year. Fourth That Mr Binns do summon a Meeting of the proprietors half yearly to be held at 24 Great George Street, Westminster on every 20th day of August, and every 20th day of February. Unless such day be Sunday then to be held the day previous. J.[Joseph]. S[Sanders] 7 At the half yearly meeting of the Clay Cross proprietors held at the Queen’s Hotel, Birmingham on the 26th of August 1847. Present Geo[George] Stephenson, in the chair Messrs Geo[George] Hudson M.P. Josh [Joseph] Sanders Wm[William] Claxton Sir Joshua Walmsley M.P. Mr Jackson M.P. S. M. Peto M.P. It was resolved First That the future half yearly meetings be held as follows, The summer meeting at Tapton House near Chesterfield to commence the first Wednesday after the 20th of August in each half year. The winter meeting to be held at 24 Great George Street, Westminster on the first Saturday after the 20th February in each half year. Second That the future dividends of the company be declared at the half yearly meetings of proprietors. Third That the following calls be made during the present half year on a/c[account] of Iron Works. £500 on each 6th and £250 on each 12th share; payable 1st of Sept[September] next. £500 on each 6th and £250 on each 12th share, on the 1st of Oct[October] next. £500 on each 6th, and £250 on each 12th share, on the 1st of Nov[November] next. Geo[George] Stephenson 8 At a meeting of the proprietors of the Clay Cross Collieries and Iron Works & Clich Lime Works held at 24 Great George Street, Westminster on Saturday the 26th day of February 1848. Present Geo[George] Stephenson, Esqr[Esquire] Chairman Messrs Geo[rge] Hudson Esqr[Esquire] M.P. Josh [Joseph] Sanders Esqr[Esquire] S. M. Peto Esqr[Esquire] M.P. Sir J Walmsley M.P. Wm[William] Claxton Esqr[Esquire] It was resolved First That the terms of the London Agency shall be changed and in future shall be based upon a percentage on the profits accruing each half year instead of salaries & a commission on the number of tons sold. The agreements to be so drawn as to avoid any partnership between the Agents & the proprietors of the Colliery etc. The agreements also to include a liability on the part of the Agents to bear a portion of the bad debts contracted. No Government Contracts to be made. Second That a dividend of £800 on each sixth share and £400 on each 12th share shall be made forthwith. Third That a call of £800 on each sixth share & £400 on each 12th share on a/c[account] of Iron Works shall be made forthwith. Rob[Robert] Stephenson 9 At a meeting of the Clay Cross proprietors and Iron held at 24 Great George St[Street], Westminster on the 15th day of November 1848. Present Robt[Robert] Stephenson Esqr[Esquire] M.P. in the Chairman Joseph Sanders Esqr[Esquire] S. M. Peto Esqr[Esquire] M.P. Geo[George] Hudson Esqr[Esquire] M.P. Wm[William] Claxton Esqr[Esquire] Sir J Walmsley Wm[William] Jackson Esqr[Esquire] M.P. It was resolved First That Mr. Parker be directed to have the new deed of partnership completed forthwith. Second That a dividend of two Hundred & eighty pounds for every one 12th share be and is hereby declared payable out of the clear profits of the Clay Cross Collieries for the half year ending June 30th 1848. Third That of the sum of £24,000 proposed to be raised on the 4th November 1846 for Iron Works etc. £19,800 having been already called up, it is now resolved that the remaining sum of £4,200 together with the additional sum of £14,160 making £18,360 be and is hereby called up being at the rate of £1,530 for every 12th share, and payable as follows viz the sum of £280 for every 12th share payable forthwith, and the remainder on or before the 26th day of December 1848. Fourth That Mr. Robt[Robert] Stephenson be requested to accept the same position in reference to Clay Cross Collieries & Iron Works which his late lamented Father occupied & that £500 per annum be placed to his credit for such general and professional services. (over) 10 Brot Forwd[Brought forward] Mr Claxton, Mr Peto and Mr Stephenson stated that they have been at Clay Cross to examine the accounts and Works and were glad to state that they found them in a very satisfactory condition and highly creditable to Mr Binns. Rob[Robert] Stephenson 11 At a Meeting of the Clay Cross Proprietors held at Clay Cross on the [27th] day of April 1849. Present Robt[Robert] Stephenson Esqr[Esquire] M.P. in the Chair Joseph Sanders Esqr[Esquire] Sir Joshua Walmsley M.P. Wm[William] Jackson Esqr[Esquire] M.P. Wm[William] Claxton Esqr[Esquire] It was resolved 1st That a document be prepared describing the various leases and purchases which have been entered into by Clay Cross Co[Company] from the commencement. 2nd That Mr Parker be consulted as to the best means of procuring a new lease from Mr. Turbutts executors. 3rd That Mr. Harrison obtain a distinct written agreement with Mr. Buchan to be lodged with Mr. Binns. 4th That an amount for Bad debts be estimated every half year and placed to the debit of Profit and Loss, such a course being deemed preferable to making a charge Per Ton upon the cost of production. 5th That Mr. Harrison be requested to examine the financial position of the differed agents of the Company in the most minute manner every half year. 6th That Sir Joshua Walmsley and Mr. Harrison be requested to arrange finally with Mr. Carter the London Agent in reference to his salary and the amount which he has overdrawn. 7th That a charge against the cost of producing Coal and other material be made to meet the interest upon Mortgage debt. 8th That the last named charge be estimated at 1d[penny] Per Ton 10th That Sir Joshua Walmsley be requested to make such (over) 12 Continued 10th arrangement with Mr. Buchan respecting the mode of conducting his cash transactions with the company as may seem expedient. 11th That Mr Binns forward to Mr. Hudson his account for coals supplied to York etc. requesting an early payment in order that the large Balance due to the Bankers may be reduced. 12th That sales of Iron be made and the accumulation of a large stock avoided. 13th That the balance of £1602 /5 being the net amount of profit exhibited in the account for the last half year ending 31st Decr[December] 1848 remain unappropriated at the credit of Profit & loss to meet the arrears of bad debts not yet entered up in the Books to the debit of Profit and Loss. 14th That the half yearly meetings in future to be held at Clay Cross. 9th That wagon depreciation be charged also at 1d[penny] per ton. Rob[Robert] Stephenson 13 At a Meeting of the Clay Cross Proprietors held at 24 Great George Street, Westminster on Saturday the 14th July 1849. Present Robert Stephenson Esqr[Esquire] M.P. in the Chair Joseph Sanders Esqr[Esquire] William Claxton Esqr[Esquire] Sir J[Joshua] Walmsley M.P. S. M. Peto Esqr[Esquire] M.P. It was resolved First That the proposed Contract with the L[London] & N[North] Western & Midland Companies for the carriage of 40,000 Tons of Coal for two years & afterwards 60,000 Tons a year at a reduction in Toll of 1/8th of a penny per Ton per mile be accepted. Second That Mr Willcox be appointed an Agent in London at a salary of £300 per annum and one third of the profits after allowing 6/- a ton at the pits for Coal and 1/- a Ton for wagon charges. All Costs and charges for Agency and delivery to be borne by the Clay Cross Company. Third That no less quantity than one Ton be sold in London in one sale. Fourth That Mr. Sanders be requested to write to, or see Mr. Carter or his friends in Liverpool to obtain a settlement of his account as arranged by Sir J Walmsley. Fifth That Mr Stephenson be requested to confer with Mr Ellis the Chairman of the Midland Railway Co[Company] respecting the unequal Tolls charged on the Midland Railway, by which the Erewash Valley Collieries have a decided advantage over the Clay Cross Coals. Sixth That 3 Weighing Machines be constructed or bought for the London Coals Wharves. Seventh That Sir Joshua Walmsley advise with Messrs. Parker & Hayes as to the proposed agreement of agency with Messrs. Buchan & Willcox. (over) 14 Continued At the above Meeting the following matters were discussed Jno[John] Davies & Co’s. bad debt for Iron. Mr Peto proposed to supply the Company wagons and leave the amount in their hands at 31/2 per cent interest so long as they desired. The price to be fixed by Mr Stephenson. Mr. Stephenson reported that the valuation of Minerals under the Tunnel had been referred to Mr. Forster on the part of the Clay Cross Co.[Company] & to Mr. Woodhouse on the part of the Railway Co.[Company] It was agreed that the best mode of conducting the London Agency should be left to Mr Stephenson and Sir J Warmsley. Rob[Robert] Stephenson 15 At a Meeting of the Clay Cross Proprietors held at 24 Great George Street, Westminster on Thursday the 20th day of Septr[September] 1849. Present Robert Stephenson Esqr[Esquire] M.P. in the Chair Joseph Sanders Esqr[Esquire] William Jackson Esqr[Esquire] M.P. William Claxton Esqr[Esquire] Sir J[Joshua] Walmsley M.P. Mr Binns reported that without any further outlay of Capital he could send 60,000 tons of Coal annually to London by withdrawing from other Markets and with an outlay of £10,000 for Cottages and the sinking of one Pit he could send 100,000 Tons & that it would require 250 Wagons for 60,000 Tons per annum to London. Mr Binns also reported that on the 15th September the Company owed the Bank upwards of £14,000 and that at the end of Septr[September] the stock of Iron would be about 4000 Tons. It was resolved 1st That Mr J B Willcox’s appointment as one of the London Agents commence from the 18th August 1849. 2nd That Mr Stephenson be authorized to Contract for 100 wagons as he may deem fit. 3rd That Mr. Jackson be authorized to arrange with the Midland Railway Co.[Company] and the L[London] & N[North] Western Railway Co.[Company] to convey Clay Cross Coal from Clay Cross to London on the following terms. If 60,000 Tons be conveyed in one year the Toll including locomotive power to be 1/2d[penny] per ton per mile. If 40,000 Tons be conveyed the Toll to be 5/8ths of a penny per ton per mile. 4th That Mr Stephenson be authorized to purchase the land pointed out for a wharf on the Railway from Camden Town to the West India Docks. The Company to rent the land from Mr Stephenson. (over) 16 Continued 5th That Mr Stephenson be authorised to arrange for the Camden Town Station at the cost of £100 or thereabouts. 6th That Monthly Meetings of the Proprietors be held in London for the special regulation of the London Trade. The expenses incurred by each Proprietor if any to be paid by the Company such Meetings to be held at 11 o’clock on Saturdays after the second Friday in every month. 7th That the agreement with the Agents be completed and signed as early as possible. 8th That the letter written by Mr. Sanders to Mr. Hudson M.P. requesting payment of his account for coals be forwarded by Mr Stephenson. 9th That one Furnace be blown out if Mr Stephenson on conferring with Mr. Binns should see fit. 17 At a Meeting of the Clay Cross Proprietors held at Clay Cross on the 20th day of June 1850. Present Robert Stephenson Esqr[Esquire] M.P. in the Chair Joseph Sanders Esqr[Esquire] William Claxton Esqr[Esquire] It was resolved 1st That Mr. Drabble be instructed to proceed in taking the necessary steps to rectify the title to Minerals purchased from the Revd[Reverend] R. B. Turbutt. 2nd That in reference to a note received from Mr. Chambers suggesting a deputation to the Midland Board to obtain a modification of Toll upon Coal passing between Clay Cross and Long Eaton such as will place all such coal in the same position with reference to amount of toll, as if the Erewash Valley Extension Railway was made through to Clay Cross. It was resolved that Wm[William] Jackson Esqr.[Esquire] M.P. be requested on behalf of the Clay Cross Co.[Company] to meet parties having a similar Interest, and act with them as may be expedient. That the plan exhibited for an alteration in the heating apparatus be approved and carried into execution; the expense not to exceed £100. That the Lathes, Engine and other Machinery ordered from Messrs Rob[Robert] Stephenson & Co.[Company] be erected as originally proposed. That the Half yearly Meetings in the future be held at Clay Cross on the last Thursday in the Month of August and February and that on the day before such half yearly Meeting a Sub-Committee consisting of Sir Joshua Walmsley Wm.[William] Claxton Esqr[Esquire] Wm.[William] Jackson Esqr[Esquire] or any two of them meet at Clay Cross to look over and investigate the said accounts. That Mr. Binns be requested to make out as far as practicable 18 a monthly statement of the cost of Coals etc. and if possible showing in such statement the general financial position of the concern from month to month. 21 Proceedings Of the Clay Cross Company At their Meetings 23 Proceedings of the Half-yearly Meeting of the Clay Cross Company held at No 9 Great George St[Street] Westminster – February 21st 1852 Present S. M. Peto Esqr. M.P. Wm.[William] Jackson Esqr. M.P. Sir Joshua Walmsley M.P. Resolved First That Messrs Hawkins & Soulby be employed to Audit the Cash Account of the Collieries at Clay Cross Half-yearly. 2. That the field at Crich required for the Quarry, be purchased. 3. That the Contract made with the Butterley Company for the purchase of 45,000 tons of their Coal annually for three years, delivered in London be agreed to. 4. That the outlying fields at Clay Cross belonging to Mr Turbutt be leased at £100 per Acre. Payment by Instalments of £100 per annum until paid for. 5. That Mr. Hodgkinson have 6 months Notice that the Company intend at the expiration of that period to pay off his Mortgage of £1000. 6 That Mr. Meyrick be called upon to furnish a Statement of his account to the Company. 7. That the amount due to Mr Sylvester be paid. 8. That £50 be allowed to Mr Cassidy who became nearly Blind in the Company’s Service. 9. That £50 per annum be added to the Stipend of the Reverend J. Oldham, Incumbent of Clay Cross, during the pleasure of the Clay Cross Company. 10 That an Estimate and Report be made as to the cost and best mode of supplying the Works & Cottages of the Company with Gas & Water. 11. That a Dividend of £380 on each 12th share be paid forthwith. 12. That a Power of Attorney be given by the Company to Mr Willcox to enable him to recover debts in the County Court. S Morton Peto 16 Feb1853 24 At a meeting of Clay Cross Proprietors held February 16th 1853 at 9 Great Goerge Street Westminster, Present S M Peto Esquire M. P. in the chair Sir Joshua Walmsley M.P. William Jackson Esqr[Esquire] M.P. Minutes of last meeting read and confirmed Mr. Binns reported that the Gas Works were nearly completed; Mr Hodgkinson’s mortgage had been discharged: that Mr Jeffries had not yet delivered over the Field at Crich. It was determined to erect another Iron Furnace, and extend the casting house:- Mr. Binns estimating the cost of both at £2,400 and 10 per cent extra for contingencies. That the Tupton Pit purchased from the Wingerworth Company be placed in a safe position and left without working save to keep it dry. Mr Binns stating the repairs would cost £250 and the annual expenditure £170. Ordered. That the Iron be Sold Monthly taking the Market price A Dividend of £400 per share ordered to be paid on each 12th Share. Mr P Wallace’s claims for Wagons read and considered. Ordered, that he be paid in Cash if he will allow a Discount, to be settled by Mr. Jackson. Ordered, That the minerals under Mr. North’s property be purchased at a cost of £60 to £80 per acre; payment being made as used. 25 At a meeting of the Clay Cross CoCompany] at 9 Great George St[Street] July 6th 1854. Present S.M. Peto Esqr.[Esquire] M.P. Mr Jackson Esqr. [Esquire] M.P. Sir J Walmsley M.P. E. E. Betts Esqr. [Esquire] It was Resolved. That the minerals offered in Mr Pearson’s Land be leased at a minimum rent of £80 per annum. That Mr Binns immediately prepare to sink a colliery in the Wingerworth Estate on the south side the main fault at an estimated cost of £10,000. That Mr Binns prepare to erect next year 100 cottages in convenient places for working the above pits, such cottages to be an addition to the 40 cottages at present ordered. That in making any arrangement with the Wingerworth Coal Co.[Company] or the Wingerworth Iron Co.[Company] the Black Shale Coal North of the main fault be retained by the Clay Cross Co.[Company] That Mr Binns inform Mr Oldham the Clergyman of Clay Cross that the Clay Cross Co.[Company] decline acceding to the proposed arrangement protecting the schools and withdraw from contesting his claim to the Deerleap Charity Fund. That Mr Binns proceed immediately to obtain working drawings of the school as designed by Mr Stevens and submit the same to Mr Betts previous to commencing their erection. That such schools when erected shall be under the 26 sole direction of the Clay Cross Co.[Company] That a Dividend of £1000 per share be now declared out of Funds in London. Mr Binns reported that No 3 Iron Furnace Coke Ovens were in progress. |
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