 In January 1851 a further special shareholders' meeting was held.Lord Ward, newly elected as Chairman, told the meeting that it was time for the OW&WR to take control of its own destiny, forsaking reliance on others (meaning the GWR); and raising a further £850,000 of capital in 6% preference shares.He began negotiations with George Carr Glyn and Samuel Carter of the London and North Western Railway but with mixed success.