The arrangements by which these early undertakings were "leased" to the contractors has been the subject of controversy among railway financial experts, but they were stoutly defended in a letter to the "Times" shortly after the completion of most of them by Mr. David Davies himself, who claimed that by this means "Wales had the benefit of something like 700 miles of railway which would not have been made for at least another century if we had waited for the localities to subscribe the necessary funds." In the present case, at any rate, Mr. Savin's efforts at financial re-establishment were the outcome of the suggestion of the North Western, warmly supported by the Great Western party, including the Chairman himself, who had become practically liable for 75,000 pounds, if the railway was not made and the company set upon a sound footing. To set free the powers of the Company no less than 45,000 pounds had to be paid down, no small task with subscriptions to the share list not easy to obtain. Yet, that Mr. Savin accomplished--and more. He bought up the existing contract, compromised and settled all existing claims and got rid of all liabilities. The rearrangement, however, took a great deal of time, and was later complicated by the dissolution of partnership between him and Mr. Davies, while the works were proceeding between Welshpool and Newtown. Not until July 26th, 1861, was it finally arranged that Mr. Savin should relinquish the lease, and work the line on an amended basis, under which he was to take the earnings, pay 4.75 per cent. to the Company, supplementing the earnings of the line by a draft upon the North Western, who granted rebates. {42} [Picture: From left to right: The late MR. JOHN WARD, Mr. T. Savin's partner in the construction of several of the Cambrian Railways; The late MR. JOHN SAVIN, who assisted his brother in the construction of the Welsh Coast and other Railways] Still, it considerably expedited construction. The works came into the new hands in October 1859, and so far as the chief portions of the undertaking went, progress became quite satisfactory. As is so often the case, in these affairs, it was an unexpected development over a detail that caused the greatest perturbation. Another difference arising on the board, this time regarding certain engagements entered into about the site of the station at Oswestry, Sir Watkin, who appears to have had certain misgivings as to the conduct of the business, being out-voted at a meeting of the directors, just before Mr. Savin came into possession of the works, in his turn left the room and a few days later sent in his resignation. He was replaced in the chair by Mr. David Pugh, M.P., of Llanerchyddol Hall, Welshpool, who continued to act in that capacity till, on his death in 1861, he was succeeded by Mr. Whalley.