Establishment of the Northern Railway Company of Madrid (1858)

The Compañía de los Caminos de Hierro del Norte de España was founded in Madrid on December 29, 1858, to construct the Northern Railway linking the capital to the French border. Its establishment followed earlier concessions granted to various entities, including the Pereires and the Sociedad de Crédito Mobiliario Español, which held significant shares in the new company.

Episodes

Background and detail

Background. The origins of the company lie in the construction of the Madrid-Hendaye railway, designed to link the Spanish capital with the French border. Construction of the line from Madrid to Irun began in 1856. Concessions for specific sections were granted to the Pereires and the Sociedad de Crédito Mobiliario Español, setting the stage for the formal creation of the Norte company.

Establishment. On December 29, 1858, the Compañía de los Caminos de Hierro del Norte de España was officially created in Madrid. The company was established with a capital of 380 million reales and 200,000 shares. The largest shareholding was held by Crédito Mobiliario Español, followed by Crédit Mobilier, the Sociedad General Belga, and the Pereires.

Shareholders. The capital was distributed among several key entities. Crédito Mobiliario Español held 52,700 shares (26.35%), making it the largest shareholder. Other significant holders included Crédit Mobilier (14.7%), the Sociedad General Belga (10%), and the Pereires (7%). Smaller holdings included the Duke of Alba.

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Sources

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