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

. . . . in the investment booms of 1837 and 1846 the whole character of the investing class changed. An entirely new range of small shareholders pressed forward to offer their savings, or even the working capital from their businesses. . . . Because of the relatively high unit cost of theses shares, it can be assumed that the majority, if not all of this numerous group were from the middle class, were politically enfranchised, and therefore proportionately influential in making their disappointment felt when they saw their investments more than halved in value in 1846 and 1847. Their resentment was increased by the knowledge that a great part of their loss could be assigned not to legitimate business miscalculations but to the sharp practices . . . [such as] misleading prospectuses, payments of dividends out of capital, rigged Board Meetings, accounts 'audited by daring amateurs.' [Kellett, 29] [756] 

These reverberations and uncertainties were combined with the ongoing construction delays at Penarth and were under close scrutiny at the shareholders meeting during March 1865 :

1865 - Penarth Harbour, Dock, and Railway Company - "The half-yearly meeting of the shareholders of this company was held on Tuesday, at the offices of the Penarth Harbour, Mr. Crayshaw Bailey, M.P., chairman of the company, presiding. There were also present - Messrs. W. S. Cartwright, Thomas Powell, J. Batchelor, H. J. Evans, G. Thompson, T. E. Heath, S. Batchelor, C. H. Page, Henry Jones, W. Powell, Woolrych, Goddard, Insole, David Davies, Wayne, Gatrex, &c. The secretary, Mr. G. S. Denbigh, read the notice convening the meeting."

Following the Director's report the Engineer's Report was read. "The report of Messrs. Hawkshaw and Dobson, your engineers . . We have to report that the whole of the materials necessary for the completion of the Dock gates have now been delivered. The sea gates, though not yet quite complete, have been closed, and the removal of the sea dam is now being proceeded with. The erection of the other basin and lock gates is far advanced, and may be completed by the time the dam can be removed. The laying of the permanent way, and the completion of the hydraulic coal drop machinery, will also be effected by the same time. The opening of the Dock for traffic now depends upon the removal of the sea dam and the completion of the gates, and if nothing unforeseen occurs, this work should be accomplished by the end of April, and if so, the Dock may be opened for traffic early in May next.