 In 1893, the original lease ran out, and the Corporation renewed it for a further 14 years.However, in 1897, they decided that they would prefer to run the tramway themselves, and so started negotiations to see if this might be possible.The two parties agreed that the Corporation would pay for the trams, buildings and plant, based on an estimate of their value by a third party, and would also pay £2,100 per year in compensation, from the date of takeover, which was 1 June 1999, until the original end date of the lease in May 1907.