Volume Ten - Pre-Victorian to the Present Day - Even more aspects - Darwinian Connections . . .

1863 - During 1863, Charles Darwin increased the value of his holding in the Penarth venture to the tune of a further £4,000 (equivalent to c.£490,000 in 2019). In June of that year he purchased thirty £100, 5% preference shares, paying a deposit of £22 per share. A further £32 per share was 'called up' the following month. [756]

A letter from Booth Bacon of the Penarth Company dated 10th June 1863 references Charles Darwin's application to pay up at once his shares in the Penarth Company and informs him of the Director's policy to receive payment upon only 50% of shares allotted.

1864 - In a letter to John Lubbock dated 19th November 1864, Charles Darwin responds, presumably, to a request for financial support in the form of purchase of shares in the newly formed Reader Limited Company. Lubbock was a scientist, whom was involved in a consortium to purchase the weekly publication which reviewed science, literature and art, and of which, Darwin was an enthusiastic supporter. Darwin confirmed to Lubbock that he was unable to oblige stating : 'Now it happens that I have taken a rather large number of shares in guaranteed Penarth Railway Company and the calls have come in quicker than I expected and shall have to borrow from my Bankers, which I hate doing, so you will see that I am very unwilling to take any shares in Reader . . . .' [756]

It is clear that Darwin was not as interested in supporting the Reader since on the 15th September 1864 his accounts book confirms that he invested a further £1,500 (equivalent to c.£183,750 in 2019) in the Penarth Company. Things are, however, placed in perspective when in late November he concedes, and his records show an investment of £80 in shares with the Reader Limited Company! [756]

The total investment by Charles Darwin in the Penarth Company appears to have been therefore £7,500 (equivalent to c.£918,750 in 2019).

The risks associated with investment in such projects as a new harbour, railway and dock was much influenced by Railway Mania which was at its zenith two decades earlier and no doubt vivid memories of hardship imposed upon the monied classes through the collapse of investments was probably still in most investors minds at this date :