Banbury and Cheltenham Direct Railway Company
Incorporated on 21st July 1873.
A 33 mile standard gauge line built to connect two of the main lines in the Great Western system; the Birmingham and Oxford with the Cheltenham and Bristol, and later reaching the South Wales line. Opened in two sections, in 1881 and 1887. The Great Western took over the line in 1897 having worked it since opening.
Original capital £600,000 in shares of £20 each. Loans of £200,000.
Increased in 1877 by £500,000 in debenture stock, in 1879 by £60,000, 1881 by £250,000, and in 1887 by issue of £1,000,000 ‘A’ and ‘B’ debenture stock.