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

These dividends are equivalent as follows:-

1 ¹⁄₅ per cent, to 3 per cent., 2 ⁷⁄₈ per cent. to 7 ³⁄₁₆ per cent., 3 ¹⁄₄ per cent. to 8 ¹⁄₃ per cent., 4 per cent. to 10 per cent., 4 ¹⁄₂ per cent. to 10 ³⁄₁₆ per cent. per annum on the original ordinary stock of the company.

Upon the consolidation and conversion of the stocks in 1889 the capital was increased by £3,754,135. The old ordinary stock was converted at the rate of £250 per £100.

The Bute Docks - The history of the Cardiff Railway Company dates back to 1830, in which year the second Marquess of Bute obtained an Act for the present West Bute Dock. This dock, which was completed in 1839, gave that impetus to Cardiff which has enabled it to grow to its present proportions.

Part of a (colourised) lithographic print of the Bute Docks, Cardiff in May 1853. [378]

It cost £350,000, of which £320,000 was spent in cash, and the balance on timber, limestone, &c., from Lord Bute's estates. The marquess in constructing the dock severely strained his cash resource, and to provide money for the enterprise reduced his personal outlay to the narrowest limits.