|101||£20 share||1846, black on grey, red seal||>8953||VF||£-|
|103||New £20 share||?||?||–||–|
Vale of Neath Railway Company
Incorporated on 3rd August 1846
A broad gauge line running 22 miles between the South Wales Railway and the town of Merthyr Tydfil, with smaller branches. It opened in 1851, amalgamated with the Swansea and Neath Railway in 1863, and finally passed to the Great Western Railway.
Capital £550,000 in 27,500 Shares of £20 each. Loans of £183,333. Increased by £45,000 in 1847 and £120,000 in 1855, all £20 shares.