By early 1898 the operational plan for the Chagford branch line was revealed, as was reported on February 21st in the Western Times:
“It is intended to work the Chagford Branch by means of electricity, the fast-flowing River Teign providing the motive power, and by this arrangement the charming scenery of the Valley will remain unimpaired by smoke and noise of an ordinary locomotive. Negotiations are in progress with the Elieson Electric Motor Company (makers of electric tram cars)
which it is confidently believed will result in an Agreement to work the line upon terms favourable with the cost of working by steam, and the novelty of this system will no doubt attract many visitors, creating a large amount of traffic”.
There was now considerable concern that the cash sums required under the contract with Dickson Brothers would not be met. On February 28th Exeter’s town clerk Mr. Gidley, in the Western Times, made a last-ditch plea for subscribers:
“Sir, Let me impress upon your readers the fact that the time for making up the required local subscription of £30,000 is running short, and if we want the railway (and we have the evidence of two public meetings here, to say nothing of meetings at, Chudleigh, Chagford and Dunsford), it really is a case of “now or never”. Certainly, if this opportunity is let slip we shall not get another so advantageous.”
On Tuesday 15th March 1898, the Directors of the Railway Company held their 6 monthly Board meeting at their offices in Victoria Street London, The Hon. C.M. Knatchbull-Hugesson in the Chair.
The Western Times had their own representative present and he reported on the meeting.
The Chairman summed up the situation.
“We were led to believe before the line started that at least £30,000 would be subscribed in the Exeter neighbourhood, but up to the present only £12,000 had come from Exeter and only £800 from the Chagford District which the branch line was to serve. If the Contractors had known this at the outset, they would not have begun the line. The proposal to abandon the Chagford branch need not be permanent. Let Exeter come forward to take up 5000 shares, but I have my doubts that Exeter will do it. Anyhow the most productive part of the line would be made.”
The proposal to abandon the Chagford branch and change the company name to Exeter & District Railway was approved.
It would require another Act of Parliament to authorise the abandonment of the Chagford line and to rename the company, both of which were granted.
Footnote: on June 30th, 1903 The Exeter section of the line, 8 miles in length, was opened for traffic and worked by the Great Western Railway.