Wed 27 Oct 1920
Emergency meeting 20 September considered increases in water easements and quit rents. Several of parties concerned demurred to increase. Letters discussed. Some new rates reduced.
Increase of 150% in rates notified to users of Navigation. This increase, with higher rents and increases in charges for easements and quit rents, should insure continuance of undertaking.
Application for financial assistance 1-20 September. Minister of Transport willing to grant advance of £36, loan for working expenses. Accepted on following terms. 1. Loan repayable in twelve months. Interest of 1% over bank rate. 2. Company will endeavour to maintain transport undertaking efficiently.
Ministry prepared, if necessary, to consider, in light of Company’s financial position, remission, in part or whole, of liability for interest on principal on this loan.
Gloucester Harbour Board asked for increase of annual subscription from £3 to £6. Navigation had representative on Board. No increase. Right to have a representative not of great importance.
Miners’ strike stopped all coal traffic for past 10 days.
[1920 Oct] Committee Meeting held at Wallbridge on Wednesday the 27^th day of October 1920 @ 3.20 o'clock pm
Present: F A Little, Jack Margetson, W R Bloxam, R J C Little, W^m Davies, Philip Jas Evans.
The Chairman reported that an emergency Meeting of the Committee had met on September 20 to consider what increases should be made in water easements and quit rents; when the new charges were decided on and notices had been sent out since to the parties concerned, several of these had demurred and in some instances the new rates had been reduced.
Under the sanction of the Board of Trade an increase of 150% in rates had been notified to the users of the Navigation and this increase together with the higher rents & increased in charges for easements and rents it was hope would insure the continuance of the undertaking.
The Minster of Transport in reply to our letter concerning an application for financial assistance in respect to the period 1^st - 20^th September (inclusive) i.e. between the termination of the Compensation Agreement and the introduction on the 20^th September of the higher rates authorized by the Minister's Order of 4^th September 1920 had stated that he was willing to grant an advance of £36..- by way of loan for working expenses and enclosed a payable order for that amount.
He added that if the Loan be accepted it will be deemed to have been accepted on the following terms:
1 The Loan will be repayable in twelve months together with interest @ 1% over bank rate (varying).
2 The Company will endeavour to maintain its transport undertaking efficiently.
The Minister would if necessary be prepared at the due date to consider in the light of the Company's financial position at that time any representation which they might wish to make in regard to the remission, in part or whole, of their liability for interest of principal on this Loan.
The Clerk replied on 16^th September that he had been instructed to accept the payment referred to.
A letter from the Gloucester Harbour Board had been received asking for an increase in the annual subscription from £3..0..0 to £6..0..0 in virtue of this Navigation having a representative on the Board. It was decided that in the present circumstances of the Stroudwater Navigation and also in view of the fact that it had no traffic passing to or from the Channel Ports the subscription could not be increased and that the right to have a representative was not of great importance to the Company.
The Tonnage for the period Oct 1^st to 26^th was £109..10..0 comparing with £61..9..8 last year and £77..14..3 in 1913 and this notwithstanding that the miners strike had stopped all coal traffic for the past 10 days.
Bank balance was £350..17..10 against £40..17..2 last year and £496..7..4 in 1913.
