ten per cent; that is, upon their capital of three millions two hundred thousand pounds they had increased it by a hundred and twenty-eight thousand pounds, or had raised it from one hundred and ninety-two thousand to three hundred and twenty thousand pounds a year.

They were attempting about this time to raise it still further, to twelve and a half per cent, which would have made their annual payments to their proprietors equal to what they had agreed to pay annually to government, or to four hundred thousand pounds a year.

But during the two years in which their agreement with government was to take place, they were restrained from any further increase of dividend by two successive Acts of Parliament, of which the object was to enable them to make a speedier progress in the payment of