ing breezes of the mountains
and the sea. And above all they, and their successors in the conduct of
the undertaking, with its developing lines, have shown us how, despite
the early apathy and even jealousy of neighbouring "giant leviathans," a
small independent railway company can faithfully serve its day and
generation, until, by one of those unforeseen strokes of irony to which
corporate as well as individual life is ever subject, it is thrown by
eccentric Fate into the arms of the very Company, under whose protective
aegis the originators of the Oswestry and Newtown and the Newtown and
Machynlleth Railways so ardently, but vainly, desired to place themselves
more than half a century ago.

What may be the outcome of this great change it is yet too early to
predict; but, whatever it be, for weal or woe, it is a sad thought to
many that what they have so long known, and smiled at, and cursed, and
loved as "the poor old Cambrian," officially is no more, and "the debt
that cancels all others" is finally discharged.

APPENDIX.

LIST OF CHAIRMEN OF THE CAMBRIAN RAILWAYS SINCE THE CONSOLIDATION OF THE
VARIOUS INDEPENDENT UNDERTAKINGS IN 1864.

THE RIGHT HONOURABLE THE EARL VANE. (Afterwards the Most Hon. The
Marquess of Londonderry) (1864-1884)

CAPTAIN R. D. PRYCE (1884-1886)

MR. JAMES FREDERIC BUCKLEY (1886-1900)

MR. ARTHUR CHARLES HUMPHREYS-OWEN, M.P. (1900-1905)

MR. WILLIAM BAILEY HAWKINS (1905-1909)

MR. JOHN CONACHER (1909-1911)

LT.-COL. DAVID DAVIES, M.P. (1911-1922)

LIST OF GENERAL MANAGERS SINCE THE DATE OF CONSOLIDATION.

MR. GEORGE LEWIS (1864-1882)

MR. JOHN CONACHER (1890-1891)

MR. ALFRED ASLETT (1891-1895)

MR. C. S. DENNISS (1895-1910)

MR. S. WILLIAMSON (1911-1922)

(Between 1882 and 1890 and again in 1910-11 there was no General Manager,
the office being designated traffic manager).

LIST OF SECRETARIES SINCE THE DATE OF CONSOLIDATION.

MR. GEORGE LEWIS (1864-1882)

MR. JOHN CONACHER (1882-1891)

MR. ALFRED ASLETT (1891-1895)

MR. R. BRAYNE (l895-1900)

MR. C. S. DENNISS (1900-1906)

MR. S. WILLIAMSON (1906-1922)

LIST OF DIRECTORS AND OFFICIALS AT THE DATE OF AMALGAMATION, 27th MARCH,
1922.

_DIRECTORS_--

Chairman: LT.-COL. DAVID DAVIES, M.P., Broneirion, Llandinam, Mont.

Deputy Chairman: THOMAS CRAVEN, ESQ., D.L., J.P., 12a, Kensington Palace
Gardens, London, W., 8.

LT.-COL. N. W. APPERLEY, M.V.O., Southend, Durham.

CHARLES BRIDGER ORME CLARK