During the war when Park Hall, Oswestry, was converted first into a vast training camp and later, in part, into a German Prisoners of War camp, a large amount of military transport work fell to the Cambrian, a network of sidings being constructed through the area occupied, and about a quarter of a million of troops were carried over the system to and fro, an additional strain on the human and mechanical resources of the Company which, however, was most efficiently sustained.
Nor does this entirely exhaust the efforts of the Company to serve the district through which its railways pass, to increase the comfort and convenience of the travelling public and to augment and proclaim the amenities of the resorts to which it carries us. To this end, two enterprises, though not directly under the control of the Cambrian, but with which they are linked by close co-operative ties, have materially contributed in recent years. Though Mr. Savin’s ambitious schemes for erecting hotels to house the tourists whom the trains might bring ended in financial disaster, the idea was an excellent one; and, when revived, some years ago on a more limited scale and under more propitious conditions, it successfully matured in the formation of the Aberystwyth Queen’s Hotel Company, of which a prominent Cambrian director, Mr. Alfred Herbert, is chairman, and some other members of the Board, as well as the General Manager, Mr. S. Williamson, are directors, with the Assistant Secretary of the Cambrian, Mr. S. G. Vowles, serving as Secretary. Not the least advantage of this sort of
quasi-partnership is the facility which it has enabled the Cambrian to offer to the public in the shape of combined rail and hotel tickets from the principal inland stations on the system, entitling the visitor to travel to and fro and enjoy the excellent week-end hospitality of the Queen’s for an inclusive moderate charge.
It may be truly said, however, that no such allurement is required by those who are already familiar with the charms of Cambria as they unfold themselves in almost illimitable variety all along this western seaboard, stretching from the mouth of the Rheidol right up to the lonely fastnesses of Lleyn. It is, therefore, more particularly to the enlightenment of the uninitiated that the Cardigan Bay Resorts Association, of which the Rev. Gwynoro Davies, Barmouth, is chairman and Mr. H. Warwick, superintendent of the Cambrian line (and now its divisional traffic superintendent under the Great Western control), secretary, working in close and sympathetic co-operation, not only with the Cambrian Company, but with several of the local authorities, has done much, year after year, to make known to the potential English tourist the delights which await him on his arrival in these coastal towns.
At any rate the glorious hills and valleys bordering the Bay, which have inspired more than one Welsh literary itinerant to rhapsody, and furnished Mr. Lloyd George with many a homely and figurative peroration, have proved no mean asset to the proprietors of a railway, whose traffic consists so largely of tourists. To the shareholders of the Cambrian has come the satisfaction of knowing that a concern, which was born under, and for many years continued to struggle for its very existence with, the most embarrassing financial conditions, has gradually acquired a more robust economic constitution.
But it has only been accomplished by long and patient conservation of its slender reserves. Mr. Conacher, it used to be said, during his arduous and energetic management, was “improving the Cambrian in the dark.” To his successors has been bequeathed the advantage of bringing that quiet sowing to a fruitful and more apparent harvest. Mr. Conacher was succeeded in the secretariat by another wise and diligent officer, the late Mr. Richard Brayne, whose subsequent retirement to a quiet life in the seclusion of the Shropshire village of Kinnerley, was a matter of regret to all who knew and realised his sterling service to the Company.
On the managerial side of the joint-office which Mr. Conacher vacated, following the comparatively short but bustling reign of Mr. Alfred Aslett (during which much was done to redeem the line from an unlucky reputation for unpunctuality that had become locally proverbial), and that of the late Mr. C. S. Denniss, the Company were fortunate in securing for this responsible office, Mr. Samuel Williamson, trained under Mr. Conacher’s tutelage, and thus specially fitted to continue that wise and far-seeing policy which had marked his instructor’s methods. Under Mr. Williamson’s guiding hand, still further assisted in very valuable fashion by Mr. Conacher, when, for a few years before his death, in 1911, he was called to the chair of the Board, and since then by a Board of which Major David Davies, M.P., the grandson of one of the foremost of the Cambrian’s pioneers is chairman, the financial position of the Company has very materially improved.
This is reflected in the terms of amalgamation with the Great Western Company. In 1908 the stockholders of the Company received the sum of £96,556, but such was the rapid improvement in the Company’s position that in 1913 they received £119,005, that is to say, in the space of
five years the amount increased by 23¼ per cent., and it was on this basis that the negotiations with the Great Western Company were carried through in 1922, because for the period from 4th August, 1914, to 15th August, 1921, under the arrangement with the Government, the profits of the Company were fixed on the 1913 basis. Commencing as from 1st January, 1922, the terms of amalgamation give to the proprietors of the Cambrian Company an immediate annual income of £119,307, and this will be increased as from 1st January, 1929, by a further annual sum of £18,161, assuming the dividend on the Ordinary Stock of the Great Western Company remains as at present, viz:—7¼% per annum, thus making a total of £137,468. In addition to this improvement, the Company, on the one hand, during the period from 1909 to 1913, cleared off a heavy debt, and, on the other hand, built up very substantial reserves and, in fact, at the end of 1913, the financial position of the Company was stronger than it had ever been.
