At the Annual General Meeting in February 1838 it was reported that one of the two construction contractors had failed to achieve the required output, and part of his contract was taken over by the Company directly; however a year later it was stated that both contractors had failed to achieve the required progress, and moreover that almost the whole of the subscribed capital had been expended. A further Act of Parliament was obtained in July 1839, authorising total share capital of £140,000 and the usual additional one-third of the value in borrowings.