These Acts
empowered railway companies to enter into agreements with each other in
regard to maintenance, management, running over or use of each others
lines or property and for joint ownership of stations. They also enabled
powers to be obtained from the Board of Trade to construct a railway
without a special Act of Parliament, subject to the conditions that all
the landowners concerned agreed to part with the requisite land, and that
no objection was raised by any other railway or canal company. Little
use has ever been made of this well-intentioned enactment. Landowners
have rarely been disposed to accept terms which the companies thought
fair; and rival railways, in the days gone by, dearly loved a fight.
By the _Companies Clauses Consolidation Act_ of 1845 railway companies
were required to keep full and true accounts of receipts and expenditure,
but it was not until the year 1868 that Parliament placed upon the
companies an obligation to keep their accounts in a prescribed form. This
form was scheduled to the _Regulation of Railways Act_, 1868. It
provides for half-yearly accounts, and is the form which has been
familiar to shareholders for many years.
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