that an altered line of route would require a fresh authorising Act of Parliament, at a cost of about £25,000, and the Board decided to leave matters as they were. Indecisive management by the Board was also exhibited at the first Shareholders’ General Meeting, when the Chairman stated that “the line was being staked out by the engineer, or at least he would commence doing so this week.” It was also announced that there had been a disappointing take-up of shares, only £20,000 having been subscribed: obviously construction could not start in earnest. Some limited construction work probably started in late December 1861 or soon after, by Smith & Knight, contractors, under the engineer, J H Tolme. Some landowners agreed to take payment for their land in shares rather than cash. The original intention to build a line as cheaply as possible had to be modified when the LSWR’s requirements (as prospective operator) were taken into account. Bridges had to be built sufficient for widening to a double line later, and the track had to be made to the LSWR’s main line standards. These stipulations generated bad feeling against the LSWR. The situation naturally became well known in financial circles, and in August 1862 a Mr Arthur Hankey wrote to the board offering to finance the construction personally subject to certain financial considerations. Hankey was going to loan the money against Lloyds Bonds. The Board was uncertain whether it had the power to accept this financing arrangement, but it was persuaded after taking legal advice. Hankey’s financial considerations would obviously involve the company paying more for their line, but the alternative was to abandon the project. Hankey entered into a contract with the company on 3 February 1863 and engaged Smith and Knight as contractors for the construction. Proposed extension, and name change to the Mid-Hants Railway Notwithstanding the poor take-up of shares, the AAWR published plans early in 1864 for another line, from Ropley to Fareham. The original main line, now under construction, was directed to Winchester and Southampton, but this new proposal pointed towards Portsmouth. As a direct railway from Woking through Aldershot to Farnham (not Fareham) was planned, the directors expected greatly to increase their traffic and to become part of the shortest main route from London to the Isle of Wight, via Stokes Bay. Reflecting the wider scope of its planned network, the AAWR changed its