Its various successes were occasions of excited rejoicings in Worcester. The first general meeting of the shareholders was held in October, at the Guildhall, Worcester. The Yorkshire shareholders sought to set aside the agreement between this Company and the Great Western directors, by which the line was to be leased to the Great Western Company for 3½ per cent., and half the surplus profits. They wished to make this an independent line; but at the representations of the chairman and others, who, with a too fatal confidence in the Punic faith of the Great Western, represented that they were under such obligations to that Company in the starting of the project and its success in Parliament, and that it would be dishonourable to break this agreement of lease—the Yorkshire shareholders withdrew their opposition to the reception of the directors’ report. 1846—FEBRUARY 27—At the first half yearly meeting of the shareholders, the chairman, Mr. Rufford, expressed his gratification at the resolution of the Great Western Company, to “extend the guarantee to such sum as shall appear to them necessary for the completion of the second railway and works, and fixing the rate of interest at 4 per cent. per annum in lieu of 3½ per cent. per annum; subject to such conditions as may appear equitable between the two Companies.” The shareholders present seemed pleased with this arrangement. The amount of expense incurred before a sod of earth was turned, was £76,124; of which £36,765 went in law and Parliamentary expenses, and £14,288 to the engineers. 1846—AUGUST 29—The second half yearly meeting of the Oxford and Wolverhampton Railway shareholders, held at Worcester, when it was promised that the deviation line from Stoke to Abbott’s Wood should be opened in twelve months, and the whole line in three years. Lord Redesdale called upon the directors to oppose the making of the Oxford and Birmingham line upon the broad gauge, foretelling that it would drain all the traffic from this line. The meeting was harmonious, and thanks very cordially voted to the directors. 1847—AUGUST 27—Half yearly meeting of the Oxford, Worcester, and Wolverhampton Railway shareholders, at which Mr. Brunel reported that the loop line from Stoke to Abbott’s Wood might be finished by the end of the year. Mr. Figgins, a London shareholder, wanted to see the agreement with the Great Western, and to set it aside. Mr. Barlow said there never was a lease more binding and less likely to be set aside. Mr. Elgie produced a copy of the agreement, by which it appeared that the line was leased to the Great Western for a permanency; and the chairman said it guaranteed four per cent. to the shareholders on whatever amount might be expended. The resolutions prepared by the directors were carried unanimously.