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

The authorised capital of the companies is as follows:-

These figures include the nominal increases in the capitals of the companies resulting from the consolidation and conversion of stocks. The full sums have not yet been expended.

The Taff Vale Railway Company - The Taff Vale Company was incorporated in 1834 to construct 32 miles of railway between Cardiff and Merthyr, and was first opened in 1840. It has since acquired the Aberdare Railway, Cardiff, Penarth and Barry Junction, Cowbridge and Aberthaw, Dare Valley, Rhondda Valley, and Hirwain, and several other lines. the Penarth Harbour, Dock, and Railway, which date from the early fifties of the last century, are leased by the Taff Vale Company in perpetuity.

The present directors of the company are Messrs. Robert Lowe Grant Vassall, Bristol (chairman) ; Charles Thomas, Bristol (deputy chairman) ; Arthur Baker, Henbury, near Bristol ; Charles Henry Cave, Mangotsfield, Gloucester ; Mathew Cope, St. Mellon's, near Cardiff ; Herbert Richards Homfray, Penllyn Castle, Cowbridge ;