critical achievements of the operation such as success in acquiring compulsory lands and full payment to share's interest which was 8%. Mr. Harrison, one of the shareholders, enquired the number of undisposed shares and The Presidents answered that approximately 7500 of unguaranteed shares were unalloted. Suspicion occurred to Mr. Harrison as he recalled having a strong impression of all shares had been disposed. Dr. Thompson, which was part of the Director, explained that a significant number of investors did not believe that their investment would fruit as much. So, 7500 is the number of applications that Dr.Thompson predicted as unsuccessful based on what he heard from the potential investors. The Vice-President also stated that, after making guarantee for 10,000 shares, an addition of 3,000 applications had been received that year with a promise of guaranteed interested which the company was not capable of offering. Then Mr.Flink, one of the shareholders, proposed to put the shares in the British market as he believed that it would had a premium price without guarantee. The Directors were delightful to fully disposed all the shares but desired to maintain the equality of share class which means all shares should have similar benefits. Besides the number of allotted shares, the definition of guaranteed shares was explained by the Presidents due to misunderstanding. Mr. Harrison believed that this type of share applied to the first £200,000 first paid up so if he paid in time, he still counted as a guaranteed shareholder. However, the President responded that guaranteed share is applied to the first 10,000 shares with a certification that the minimum received interest, which was 5% would not be influenced by any factor. Initial Purpose The company stated that the construction purpose is to connect the "two most populous town in the Colony of Victoria" and cooperate with another company building the junction to Williamstown. The railway line's owner declared that the majority of the colony's commerce was "centered within the town now proposed to be united". So, the accomplished reciprocity thanks to the completion of the line would enable citizens to exchange goods such as wool from Williamstown or Geelong to Melbourne with lower resources. The formation of the company or the railway can be determined as a response to the fast-changing economic circumstance. Geelong and Melbourne Railway Company stated that the line was an urgent need due to the rapidly increasing population rate