Volume Two - The Era of Optimism, Investment & Development - Developments at the turn of the 20th century . . .

• November 1908 - 20 Million Company. - The Bute Docks and Railways - Bought by the T.V.R. - Rhymney Also Taken Over - The announcement that the Taff Vale Railway Company had yesterday arranged to buy the Bute Docks and Railways, as well as the whole property of the Rhymney Railway (which announcement was first and exclusively made by the Pink "Express" last night) evoked much interest in local commercial circles.

The total capital of the undertaking concerned, including the Taff Vale, is about twenty millions sterling. This will not be an amalgamation on the lines previously indicated, but the absolute sale to the Taff Vale Company of the whole of the Cardiff Railway including the Bute Docks and the Rhymney undertaking. Everything is, of course, subject to the sanction of Parliament being given, in which even the Cardiff Railway and Rhymney Companies will be dissolved.

Certain directors of the Cardiff and Rhymney Railways will join the Taff Vale board. the purchase price is not yet disclosed, but the sale is to be effected principally by the exchange of stocks of the two vendor companies for those of the Taff Vale to be created to enable the deal to be effected.

The sale of the Bute Docks to the Taff Vale Company does not mean the disposal of the freehold of the Marquis of Bute. The royalties, shipping dues, and ground rents now payable to the Bute Estate will be continued.