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Full text of "Railway Times"

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Univ. of 
Toronto j 
Library * 



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With which is incorporated 



HERAPATHS RAILWAY JOURNAL. 



A Journal of Finance, Construction, and Operation. 



VOL. XCIX. 



JANUARY JUNE, 1911. 



<v 



% 












LONDON: 
.2, NORFOLK STREET, STRAND, W.C 



SUPPLEMENT 10 "THE RAILWAY TIMES 



THE RAILWAY TIMES INDEX. 



VOL. XCIX. 

January— June, 1911. 



DIRECTORS' REPORTS ft ACCOUNTS. 

W ' - 1' '-■- 
and Railway, 113 

- 
: 

-• 

. 14< 

. . 512 

5 

.. 245 
Ry., -',:;:, 
- :i Ry., 154 

ay, 1 54 

: 

- 
- 

Railway, 342 

- 

271 
- 
__- 

27 
! 

- 
.. 119 

M 

- 

- 

■ 
- 

I 



246 
Sout Western Railway, 152 

n of Brazil Railway. 
Great Western Railway. 150 

Havana Electric Railway 

I'.ailwav. 271 

Railway, 117 

[ • "n and Railv 
Hand Railway, 561 

ntra) Railwa 

King's Lynn D 297 

IV, 415 
-■ire and Ayrsl 

ire and York- " ,118 

Una Railway. 4 
Lama Railways, 560 

1 , x 
West .173 

South Wcs1 

■ . . I i I Railway, 90 

ly Railway. 199 
ly, 117 

S urhend Rail- 
staple Railwi 

•:iern Mahratta Rail 
Maryport and i 

Railway, 197 
•an Amalgamated Railway Carriage 
and Wagon Compa? ' i 

tan District Railway. 110 
litan Railway, 03 
VI 

action Ry.. 169 
2 
,-, 153 

- : i. 313 

.. 413 

S 

s 

- 

.. 272 

S 

5 
- 
- 
S 

■i 



Hay Railway . 
Rhymney Railway, 151 

. 391 
;nd and Kumaon Railway. I - 
Ross and Monmouth Railway. 178 
Royal Insurance Company, 535 

San Paul' Brazilian) Railwa; 

Sheffield District Railway. 199 
3 _ . Leitrim and N - Ry., 246 

Dorset Railway, 1 15 
Behar Railway, 17 

rn and Chatham Railway Com- 
panies' Managing Committee, f'l 
South Eastern Railway. 90 
South Indian Railwa;. '"- 

i i lilway, 535 

Southport and Cheshire Lines Extension Rail- 
way". . 

i'orkshire Junction Railway. 
rd ■.: i Essendine Railway. . 
rd-on-Avon Midland Jur.ction Ry., 120 

... 120 

rnmervt Rai'v 
Tralee and Fenit Railway, 199 

Yal de mpany. 36l> 

. llo 

lilway, 199 
• ■ aranteed Ry 
mpanv, J. G . 
Wirral Railwai 22 - 

Dales Railway. 199 

Railway \\ " .. , 124 

COMPANIES' MEETINGS. 

E 
Newport and S 

172 

I 

. 144 

- 

. 14'.' 

__ I 

- - 
55S 
R., 198 

- 












































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' 











- 

- 

s 
_ ; 

i 



222 

- 

; 

112 

■ 

- 




Supplement to 



Didcot, 

■ 
. 198 

I 

175 

v. 17j 
112 

mpony, 41.j 

-- 
i 



TH1 RAILWAY TIMES. 

■ 
■ 















"> 

■ 

- 
- - 

. ... 



Wirral I 



_ 



- 

| 

■ 



■ 

PARLIAMENTARY. 

- 

- •. 4-1J. J'-'- 

' - " -- 

- 



DIVIDEND ANNOUNCEMENTS. 









Supplement to 



THE RAILWAY TIMES. 



[July 8, 191 1. 



D. ti'.n United Railway, 191 
Dublin an.l Kingston Railway, 300 
Dublin and South Eastern Railway, 6S 

East In. Han Railway, 300 
Emu Bay Railway, 240 
Entre Rios Railwa; 3*1 

Forcctt Railway, 122 

Forestal Land, Timber and Railways, 456 

Forthcoming Dividend Announcements, 40, G2, 

Freshwater, Yarmouth and Newport Ry., 300 
Railway, loo 

i and South Western Railway, 240 

. District Subway, 240 
Gloucester Ry. Carriage and Wagon I o 168 

ntral Railway, '.'2 
• ireat Eastern Railway, 67 
i [real Northern Railway, 92 
Greal Northern Railway (Ireland), 92 
Great Northern Railwaj (U.S.A.), 17. 347 
Greal North of Scotland Railway. 191 
Great Southern and Western Railway. 122 
Great Western of Brazil Railway, 347 
Greal Western Railway, 156 

Hadfield's Steel Foundry, 210 
Highland Railway, 216 

I,, i. r oi eanii Railwaj of Mexico, 490 
Isle of -Man Railway, 210 
Isle of "U ighi Railway, 153 

La i iuaira and Caracas Railway, 10 

hire and Ayrshire Railway, 240 
hire and Yorkshire Railway, 92 
Lauder Light Railway. 415 
Leopolclina Railway, 156 
Lima Railways, 552 
Liverpool Overhead Railway, 02 
Lombardy Road Railways, 270 
London and Blackwall Railway, 122 
London and North Western Railway, 155 
London and South Western Railway, 92 
London, Brighton and South Coast Hallway. 92 
London, Chatham an.l Dover Railway, 67 

. ity and Midland Bank. 1 i 
London Electrii Railway, 92 
London, Tilbury and Southend Railway. 07 

Mel,., and Southern Mahratta Railway, 384 

and Carli-le Railway, 155 
Mi in ■ I ... us Adana Railway, 528 
\|, tro. Vmalg Ry. Carriage and Wagon Co., 456 
Metropolitan District Railway, 92 
Mi tropolitan Railway. 68 
i n Railway, 347 

Mid-Kent Railway, 02 

Midland Cr.at Western of Inland Railway, 68 
Midland Railway, 122 

Midland Railway and Carriage Company, 240 
Minneapolis, St. Paul &SaultSt< MarieR.R 216 
Mount I. veil Mining an.l Railway, 432 
Mumbles Railway and Pier, 122 

Natal Zululand Railway, 276 '■ t 

National Provincial Bank of England, 40 

B n 1 raj ol Mi si. o 122 
\i, Railways, 370 
Norfolk and Western Railwaj "i 
North and South-Wesl Junction Rail-w i W 
North Bi itish Locomotive < lompany, 21( 
North British Railway, 240 

!, Central Vi a on I ompany, 122 
North Cornwall Railwaj . 276 
North Ea ti rn Railway, 92 
North Lond m R itlway, 122 
North Stafford hin Railway, 92 
\,, T i hei ii Assurance < lompany, 384 

Otis sie.l Company, 240 
Otton d R l'-' 1 

Peninsular & Oriental Steam Navigation Co., 456 

Raili 432 

Pirai I. \Hi. a.- P, lopoi ay, 276 

Poolcy and S.,n. II., 300 

I ii, ,t Railway and Doe] 122 
]■ „ ,,,, i abcllo and Vali ■ ■ i' Iwa; 150 

R dlwaj [> bi ni 

Railway Investment < impa 



Railway Share 'I'rust and Agency Company, 155 Dividend-. Further Home Railway. 7 



Rhymney Railway. 122 

Rio Clan. Sao Pa'.llo Railway. 370 

Rohilkund and Kumaoii Railway. 317 

Royal Exchange Assurance, 415 

Roval Insurance, 52S 

I'.nyd Mail Steam Packet, 432 

Salonica-Monastir Railway, 552 
San Pavilo (Brazilian) Railwaj', 300 

Siilm.iiith Railwaj', 270 
S..nth Bele, i Railway, 40 

South Eastern and Chatham Managing Com- 
mittee, 68 
South Eastern Railway, 08 
Smith Indian Railway, 415 
Southern Punjab Railway, 490 
Stewaits and Lloyds, 296 
Stratford-upon Avon and Midland June.Ry., 92 

Tafif Vale Railway, 02 

Taltal Railway. 300 

Three Years' Dividends and Yields, 6S 

Toronto Railway, 300 

Ln i..n Castle Mail Steamship, 156 

Val de Travis Asphalli Paving, 322 

Vale of Glamorgan Railway, 67 

Victoria Station and Pimlico Railway, 67 

Western Railway of Havana, 300 
Western Wagon and Propertj Company, 155 
Weymouth and Portland Railway, 07 
Winnipeg Electric Railway, - r .2s 

ARTICLES. 

(Articles marked * are Illustrated.) 
Accidents, Pontypridd and Paddington, 334 
Accidents to Railway Servants. 598 
v. idents, Tall Vale, L23 
Accidents, Willesden, 286, 201 
All Red 
Amalgai 
Annual I 

537, 587 
Vutomati. Signalling Apparatus for Prevention 

ol Accidents,* 602 
Automatic Ticket Printing and Issuing Ma- 
chines* 338 



Dividends, North Western and Gt. Western, 133- 
Doom of Rule 55, 382 
Dover! lalais Route. 022 

Earning Power of British Railways, 478 
East London Electrification, 54 
Elections under the Conciliation Scheme. 358 
Electric Motors. Petrol,* 459 
Electric Traction, Single-Phase, 381 
Electric Ventilator, The Keith.* 38 
Electrification, East London. 54 
Electrification of the Lond., Brighton. & South 
. oa I Ry., 189, 262, 285, 289, 433, 454, 457* 

Further Home Railway Dividends, 77 

( irand Trunk Pacific, A Track Layer on the,* 529 

i irand Trunk Report, 358 

Greal I .ntral Railway rosier,* 299 

Ideal Western Railway. Labour Question on, 

17*. 532 
Creat Western Stock as an Investment. 501 

Haw. Junction Accident, Board of Trade 

l;. port on,* 314 
Home Rails and the Stock Exchange, 357 
Home Railway Dividends. 53, Iu2 
Homi Railway Market, 286, "21 
How the Railways Promote Recreation, 214 
Hull and Barnsley Railway,* 337 
Idaho and Washington Northern Railwaj 

Bridge,* 625 
Indian Railway Development, too 
Indian Railway Men, Annual Gatherings of, 

526, 537, 587 
Indian Stat,- Railways, 333, 598 
Inglis, Sir James,* ]<; 
Intermediate Traffic, The Development of, 526 

Keith Electric Ventilator,* 38 



Labour Question on theGt. Western Ry.,478 532 
y of Railway Servants, 502 Largs Mallei Articulated Locomotive,* 242 
I Indian Railwaj Men, 526, Leslie, Sir Bradford.* 37 ,219, 369 

Lessons from the Ormskirk < ollision, 57 
Lesson- from the Willesden Accident, 286 
London and North Western Cinematograph 

Exhibition, 634 
London and North Western Combined Suction, 

andjdrah Dredger.* 557 
London and North Western Coronation Loco- 
motive.* 482, 601 
London and North Western' Lavatory Accom 

modation,* 608 
Lond. and Nort h Western's New Chairman,* 103 
London and North W.-stein New Locomotives,* 

313, 482 tot 

London and North Western Passenger Engine 

and Stephenson's " Rocket,"* 505 
London and North Western Prospects, 597 
London and North Western Hallway, Views 

on,* 529 
London and South Western Railway's New 

Deep Water Dock at Southampton,* 555 
London and South Western Railwaj Terminus, 

Reconstruction of,* 33 
London, Brighton and South ( oasl Railway, 

Electrification of, ISO. 202. 285, 2S0, 433, 

454. 457 * 
London. Brighton and South toast Railway, 

Nl n Locomotive* 196 

London, Tilbury and Southend Railway, 

Proposed Absorption of, 1" 1 
London Traffic Agreements. 4.".t 
I. ii. .... in Advance, Passengers', 190 

Mallet Articulated Locomotive for Virginian 

Railway,* 242 
Market Influences, Some, 550 
Mexican Railway Dividend 
Mexican Railwav Position, 213 



Block Instruments.* 481 

Block Signal and Train Control Bond oi the 

United States, 153 
Board of Trade, The Powers of the. 6 
Brighton Ry. and the Crystal Palace,* 454. 457 
Brighton Railway Electrification,* 189,262, 285, 

289, 433. 454, 457 
British Railways, Earning Power of, 478 

Cambrian Railways, New Motor Coach on.* 506 
Canadian Northern Railway, W 1 Pulp Train 

on.* 509 
Canadian Paoifii Progres . 29 
Cantilever Bridge Construction on a Western 

American Railwaj,* 625 
Cardiff Railway, Opening of New Branch,* 217 
( leylon, Railways in, 027 
Channel Ferry, The, 309 

. helsea Powei Station, Steam Turbines at. 514 
( Ihcster to Llanberis, From*, 520 
Codification of Railwaj Law. 30 
I Mm . Iperated Speed Indicator,* 410 
i lompetition and ( '.. operation, 622 
. onciliation Boards and other Railway Matters 

in Parliament. 577 
Concrete Bud.',, \ Remarkable,* 243 
■ ,n. rcte, R< mine ,.l or P. rro, 21 1 
Conversion of Railway Ordinary Stocks, 382 
i oioiiai ion Engine,* 4s2, 601 
Coronation Honours for Railway Men,* 610 
Coronation Traffii . 574 
. , ,. I., I Palai e and I he Brighton El 

lion.* 151, 157 



iritiea- Midland Express Disaster Verdict, 30 

Midland Scotch Express Accident at Hawea 
Junction,* 314 
Deep Water Dock at Southampton. Opening Motor Coach on ('and. nan Railways," 506 

of,* 555 
Demurrage Charges in Scotland, 78,81,320 Nationalisation Trouble, 30 

Orders,] ai of adjusted, 486 New Cross Channel Route,* 484 

Development of Intermediate Traffic, 520 North Pastern Consols. .-,25 

Dinin Car Service for the Grand National,* 299 North Eastern Strike. 134 
District Railway, steel Rolling Stock for,* 10 North to South Route lot London, 310 

nd Outlook, 11... 5 North Western and Gt. Western Dies., 133 



Supplement to 



. tion of R nl»'i I ompanii 
1 1|. ning ol New Deep Watei Dock at Southamp 

ton,' 
Onnakirk Collision, Bonn Li in from, 57 
( Isborne Judgment, I hi . 134 
Ozonaii Ventilating Plant,' 609 

Paeifia Loco, with Schmidt Buperhi iter,* 409 

» illicit. 361 

in Advani e, 190 
■ 169 
i ,-. The Protection of, 78 
I dd I Paddington Ai i idi 

de, 6 

i. Jling 
Appai 
Proposed Tilburj VI ption, l"l 

ion ,* C 

Rail Joints, - ited at 

l ongress, G " 

Railway Agreement 131 

Railway Benevolent institution, 430, it" 

i apital, 477 
Railway Companies (Accounts and R 

Bill, 385, l".". 
Railway Companies and theii Employees, "■7t 
Railwaj i os., and ibilil ies 406 

Railway panies' Bills, Obstruction of, 237 

Railway peral ion, 129 

Railway Dividends, 53, l<>-' 

Railway Law, Codification 

Railway Matters in the I 

Railway Ordinary Stocks, Conversion of, 382 

Railway Results in the Pasl Half-Year, 194 

Railway Revival, 165 

Railway Si rvant . Ao idi nt 

Railwaj Shareholders' Association, 160 

Railway Wagon Dispute, Bcol h, 78, Bl, 320 

Railways in I eylon, • 27 

Railway a in London, 166 

286 

1!. fnfon ed or Fei ro-l om rete, 214 

* 243 

1 i. .".'.is 

ment of Lord Stalbridge,* 193 

Rule 55, 166, 382 

Sand Suction and Grab Dredger " Rhyl,"* 557 
i. It Superheat r, Pacifii I co. with,* i"' 1 
Scotch Express Enquiry, 310 
Scotch Railway Wagon Dispute, 78, Bl, :;-'" 

1 - . Railwaj < ompanies, 

78, Bl, 320 

Side Tank I. - int.. I with Superheater,* 313 

Single-Phase Electric Traction, 381 

South Eastern ami Chatham New t ross ' bannel 

• 184 
South Eastern and Chat] R I lutlook, 549 
Southend Train Fai ilities, 622 
Bpeed fndii atoi . \ ' oin ' Operated,* 1 1" 

The, 57 1 
Stalbridge, Retirement of Lord,* 193 

ilway Management in Prance, 190 
station Lighting,* 19 

i ■ - ion, 514 

Steel Rolling Stoi k for tin- District Railway,* 10 
Stephenson's "Rocket.'' and L, and N W 

Expree I' i iscngi i Enf ine,* 505 
Stock Exchange and Borne Rails, 357 

:m Station Lighting,* 19 
Telegraph Wires on Railway 
Ticket Pi in) ing Mai him 
Tilbury Absorption, Prop ed, 101 
Toront n, 13 

tin in' u< a in Toronto, 13 

Underground Railway Afiai 

United States Railri ad . tlation 

Ventilation of the • Central London Railwaj ,* 609 

Wagon I >• mi - 'land, 78, 81, 

320 

Webb Railv 102 

Western An I 

• 825 



THE RAILWAY TIMES. 



Wi tern 
Wcstingfa 

Willcsden Ai idi nt, Bd 1 1 di l: . ■ it on,' 291 
•ii the, 286 

W I Pulp Train on Canadian Nort] 

way,' 
Workmen'! Fan . 262 



HOME NEWS 
Abandoned Railwaj to bi R. opt ni I, 343 

Aberdeen I 

\\. ti in. 344 
\. i i.l. in . Board of Trai I .lis 

Accidents, fnrei Month 
A. tion against a Railwaj . A V m Can 
... Vchii lo for Highland Rai 
Alexandra D ■ i 

Ml Red Route Electrii Railway, 345 
ited Society oi Railwaj 
Organiser, Candidates for Post of, :ii7. 632 

■ it Railway S 
Great West< rn Railway, 539 
Annual Gatherings ol Indian Railway Men, 637 
Arbitration, Interchange "l Traffic, 40 
Army R _'7-"> 

Audible S 

I tooi 1.... I. M 159 
Aviat ion and Railwaj s, 552 

Block Telegraph Worki 

Board ol Trade Railwaj Returns foi 1910, 

IV Liminai j Summary, 460 
Board ol I rade Reports 

Accidents, Us 

i irimsbj i ollision, 275 

Hawe -l 1 1 ti ■ ■ Aci idi nt, 314 

Light Rail* i 

Pontypridd Aci ident, 346 

Railway Agreements and Amalgamations, 437 

Willcsden Collision, 291 
Bolsover Crossing Accident, Report on, 19, \-2 
Bookstall Rights at the Crystal Pal 
Bridge ai ' armarthi n, \ New, 220 
Brighton Cos, Electric Lines, Ex. of, 61, 567 
British Locomoth es foi France, 196 
British Trade and Indian Railways, 299 
I n.| the Railways, i~-7 

Budleigh Salti R 199 

Building Trades Exhibition, Paints at, ."'3s 

.ni Ambulant . it I i . 149 
Caledonian Arbitrator's Award, 395 

in Railway. First Wd Competition, 366 
Caledonian Railway Smoking ' oncert, l".l 

.. R.nl'.i aj Sti ■ l. Addit ion to, 323 
Caledonian St nil t lhangi . 180 
Cambrian .Main Line Improvement 
i ardifl Ry. Admitted to Clearing ft 
i asualties in 1910, Railway. 178 
i lathcart ' in le Railway Zone Fan - . 14 
i Sent ral London, Chs he, 346 

Chamber! i and the Railways, 287 

( lhannel St. ami r, \ New, 515 
Cheap Trains Bill, 130 
Cinematograph Exhibition ol the London nml 

North Western Railwaj 634 
i Sty and South London ! il on, 419 

City Life Assurance Company, i^'Il' 
Claim against the 
Coal Contracts, Railway, 60 
Collision at Paddington, 396 

[way, 601 

ili.ii ion Board and ' " hi i I 

in Parliament, 577 

i i i in.- and W 
ion Benefits for Employe) 
i oronation M.I 
i Coronation • I Men, 610 

imi tive, ii 
Coronal ". 633 

i loronat ion \\ •■■ l. Railwaj I 

■' 
i ..iiplinj i Championship Rei oi 
Crewe Works, Full Time I'.. 
i i it i. i-m -a Ma ximum 
i romartj Light R.i i! 144 

Crystal Pi 
Crystal P 

62, 1 1 7 
• ■ I 



[July B, 191 1. 

i • i. 1 ollision, Ri 

1 ■ 

Dclph and Oldham Lit I 419 

i ■ Orders, 1 

I 
Disp 
D 

l. 

I ■ 

1 I Mi ' . II i ' 

East Italian Railway Dinm 

lil. ndi n Ry., Elect 

Bducati 

i i zincei , 601 

on t ho Underground 

i Construct ion and Sup 

Engini Drivci and Into i ints, 202 

l .i boui . I ' 

: 191 

Exchange ol Engines in Ireland, 191 
Express Driver's Fall tr.nn hie Engii 
Extension ■■! the Brighton Company's Electric 

• . 1 . 557 
Eyesighl I Q Employees, l". 194 

Falkland Light Railwaj 
Fatal ' ■ it ''1-1,11 1 . ' l 

First Aid i hampionshi] 167 184 

First Aid to the Injured, 2" 
Fisbgu ' I deepening of, lis 

Fort Augustus Railway, 124 
Fran I 191 

Gardi n City, \ New, 180 

I ..1 man I I. mil .1 

Glasgow Exhibition, Exhibits Want.. I for, 396 

1 Subway, .".l". 

Goods !)• pot ol th. i, \V Rj . \. w London, >.l 

11 for, 19 
Greal Centra] Proposal ami Hull, 37 
Great Central Railway and Seamen's St 

1 ilway i 'ompai 
Great Central Railwaj v. Midland Railway, 418 
I 

I hi,.,, i. 311 

• nti.il Steamer, Laun< h of, 188 
■ 

Great Es tern Railv D 
R 
. 324 

I ■ 

Great Eastern Railwaj R 

'In in Contract, 21s 
■ hern Emplovi i - and I 
Donnell, 15, 180 
Great ' way Appeal 

Northern Railway 
R. om foi 249 
■ 

' 
Great ' 

in \,.iw.i, 



Supplement to 



THE RAILWAY TIMES. 



Great Western Ry. New Petrol Electric Car, 215 London Railways Athletic Association, 19 

Great Western K\ . New Rolling Stock, 394 London S ho I ol Ecc nies, 238, 515, 634 

Great Western Ry.. New Wage Troubl , 181 London to Watford Electric Railway, :m I 

Great Western Railway Officers, 529 Lord MacDonnell and Great Northern Em 
H estem Railway, R it in I I ployees, 15 

n R ''" C\ Service to Bn • 530 Lo - ol the Prcussen, 395 

Western Railway, Signalling on, 218 Luggage in Advance System Urn 
. R lilwav, Staff ( hanges on, 394 

i ,,, Land. 564 Manchestei Ail iti it ion, 359 

Great Westei i Ry., Ti i I . ainst, (332 M " '" '• i Sul urban I 

Grimsbj Collision, Bd. of Trade Report on, 275 Marine Station at Dover, New, 6 

Haiti pool - New Do. I Works 6C 
Disasti i and i: 



227, 612 



Kit 
599 



i,,|i 



ipeti 



Highland Rv. Ambulai 

Holywell, \r» Li e o 

Hull and tl e Great c entral Proposal, 37 

Hull and the North Eastern Railway, 419 

13 ; si. ps, 359 

[mmi .Mm Railwn y, Op ming of, 137 

Indian Railway Men, Annual Gatherings of, 537 Metropolitan Railwa 
[nstitute o( Metal . 32 

Inst, ol c ivil Engineers, 36, 113. 179, 218, 601 
Signal Engii eeis, 276, 191 

' angc -I Traffic Arbitral tn 

rrj and Fort in ; 3 Railway, IJ 

[pswicli Stat Improvement . 605 

[rai iei Ixlel ox, I he, 440 

Irish l: lilwa) R, , 1 11,1, ,,, |:i|n, ;,:;•. 

Iron and Stc • I Inst itute D 1. 4(i4 

Isle ol Wight 1 entral R lilway, 199 



Kent Coal and the Railway Companies, 92 
I-. 1 I dward, Railway Memoiial to, 323 
King's 'I real to London Scl 1 ( hildren, 251 

I I Opposition to Railway Bills, 56 

II CJ ffl .,1 W, .1- ,11 Ry., 532 

I ampetei to \l„ m\ ron Railway, 506 

1. and <* 1 I..' * N.W.R First Uel 1 om 

petition, 540 

1 Yorkshire Railway, 251 
L. and V. Railwa\ Conciliatioi Board 634 

I Y. Ra Iw ,-Highi Gi idi Agitation, 368 
I ' * and Tube Railway! 632 

Lighting ol 1: lilway I n riau'es. 16 
I l: tilway, \ Proposed" 124 

Light Railwa'i bctwi n II. ;ton and Wrangle 

540 
Light Railway 13 IVadc Ri p. it, ::^7 

Light i: liiyvay - n Salisbury Plain, 515 
Light Railway Ordi 1 . 119, 537, 612 
Lineoli I v 1 1. . |„ in 

L01 omotive Men and Rule, 55, 250 

I I ' : 107 

1 Ii Older fir, 44 124, 1116 

II > ;, I 5 
London | | a , , Elect 1 ific ation 21) 

179, 300 
London and SVutli \\ t< in I: lilwav— 
man hip. Is 
m itoirrapli Exhibition, Ii34 

I I" ■ mplovecs. nil' 

Rail. Coal and Canm I C 



Maun tania - I ' nonat ion Voyag 
Ma imum Loading, 1 'i it icism ol ) 1 
Memorial lo King Edward, A Railway, 227 
Metropolitan Amalgamated Railway Carriage 

and Wag ' panv, Large Order, 83 

Metropolitan District R lihvay V tion, 632 

i in District Railway, Alterations to 

Temple Station, 587 
Metropolitan Drivei Fatally Burned, 394 

nipan-y - \; peal, ."I t 
Metropolitan Railway, Signals on, 227 
Midland and Tilbury Rj ' Amalgamation, 122 
Midland Railway Disaster. 12 44 
Midland Railv ij First Aid Work, 201 
Midland Railway v. 1 In . 

Monl ania Engi g 1 inpany, I 

Motorists and Luggagi in Advan, 1 . 612 



[July 8, 191 1. 

ations, Board 



New Departure in Life \ uran 1 275 

New ha < - n Harboui Rei eipt -. 564 

New York Life Insurance, 27."> 

Non- ttop Trains to Bournemouth, 347 

North Biitish 1 arriage 1 leaning Depot, 371 

Nor! h Bi in-li Locomotive 1 'ompany, I Irder for 

Engines, 41. 124. 196, 396, 490, 515 
North British Railway Arbitration, 201, 24!i 
North British Railway I 1 ntract, 180 

North British Railwaj New I. motives, 225 

North Devon Light Railway, 287 

North Eastern Clerical Staff, Lectures toi 1 I - 

ill 10 
North Eastern Railway 1 learn . ' Strike, 24s 
Noith Eastern Railwa\ Com iliation Board. 601 
North Eastern Railway Dispute, 56 

North Eastern Railway Distiiet <: Is Office, 44 

North Ea tern Employe* - Agitation. 18 
North Eastern Railwa\ Improvi mem -. 467 

North Ea tern Railway. Lone Sen ie Co s 

North Eastern Railwaj Maga: ine, 67 - s 

. North Easti in l:, N'atiiral Historj S01 ietj 370 8 

North Eastern Railway Students' Essay Com- S 

petit io Ii ' S 

North Eastern Strike. Mystery of, 202 s 



Railway Agrei meats and Amalgi 

of Trade Report on, 437 
Railway Agreements, The Krpc.it on, 599 
Railway- Appeal, An Interesting, 634 

Railway Benevolent Inst., 227. 440, 53 10 

Railway Bills, Labour Opposition to, 56 
Railwaj 1 Ian iage, Lighting "1. 16 
Railway Casualties in 1910, 47S 
Railway Clearing House Presentations, 41. 411 
1: lilwaj 1 Ink 552 
Railway I oal I 'ontracts, 60 
R nlwa; 1 lompa»3 ■""' ; " e Salt I ftiion, 348 
II hIm.h 1 tomp 1 in. - and K mt I loal, 92 
Railway ' ! o .' and 1 he Hawes I tisasti 1 . 369 
Railway Companies and Mineral Worki 
Ry Cos.' Easter Holiday Arrangements, 322 
Railway- Demands, Lord Allerton on, 4^4 
Railway Di ieloi merit in Wales, 34 I 
Railway Electrification, 227 
R-. ElJ. 'mi. hi. .a. st. 1 l,t..ii Gas 1 lain for, 264 
Railway Facilities in lieland, 587 
Railway i iuard I Si cii t y. 41 1 

Railway M< morial to King Edward, 323 
Railway- Pol 1 Bi rerv, 64 

Rnlwav Problems, Mr. A F Pease on, 250 
tral Railway, 418 R ailwa , y Prujt , d . Niu . 6n 

Railway- Si rvants' Orphan Fund, 3 
Railway Shan holders Assoi iation, 160 
Railway Sidings and II- bati 3, 540 
Railway Signal and Telegraph Engineering 
Institute . 251 



ih Easten 
-tl, Eastc 

III. Ill I.I 



I'll 



Ti 



' lie Clubs, 
Vlotoi ['rains, 119 

London 

V 

1 . 1;. 

Bri-hton and i 

. . , . mt i .- ..n Y i 

Junction, 32 
London, B 

I 

Work . Iso 
L.C.C. an I Worl 
I... 11. 1-., 1 

London I ». cks, (ireat s. ! 
London Eli l ri. R lilway 



Railwi 
Railw 



1 pan 



Officials, Dii 
Oil Engii . - 



eatened Sink,. 01 
ible. Settlement o 
peting for Southei 

203 



489 

5 1 5 



.1 I:, ilwa 
n Boat 336 
ay Re opein .1. 396 

linghi 

S.R s.. ;:i7, ,:;_■ 
listen at, ill 



it Hi. 



323 

11 l: 

R, ,„; 



in t.i, it, 
11 

.at Railway 
larbom-, 564 
R 



IV sular and 1 

I' nlai an I 1 

P, i-inarient Way 

r, iroi i-:i, . tiii 1 

Petrol Electric I 
Pi tr-ol El 

Pontypri, 

betweei 
Po 1 Oflii 



1 1 \'i 
1 1 Nc 



Rail M, 

eery, \,, 

\. , ,,!, n 
,1 It.. 11,11, 



tit. Central R 
fm Loud, n, 20 s 

1 ir, \ New, 215 
iportant, 17 

,1 t-l on, .'if. 
municat ion 



:;.,,, 



Sti 



11, I 'I 
Bill. 24d 



.a,, 1. 51; 

Railway 



I',, -, , 111 ion 
1 



■1 i;,. 

1 i. 

kets 



.-,n:i 



■t l-'l.-u 



London Electric Railway 1 ninpany, : 

I 
London I 
Li ndon 1 inn ibus Amal 



Railw 

199 

Is, 562 

.. Pa engei . 249 
I' Banks, Sug. csted, 290 

I'.il lie [)cj U 1 92 Stall Chai 

Publicity : Railway .. 218 

' ,1 Si rvicc ..11 s I-'. & 1 1: lilway, 300 
Qnartei R 612 

Rail ind Mot 01 Cai 1'oui . 137 
. a lion at Leeds, 588 
Railophon, . II,.. 385 



I: 



Action Againsj tl„- Postm ister-G neral, 191 Stop] 



Railway S ties ind Slate Insurance, 527. 608 

R hIw.m Traffic Facilities, 417 
Railway s and Aviation, 552 
Railways and the Budget, 487 
Railways National Ambulance Shield, 538 

Railway men and Rule 55, 346 
Railwayman and the Coronation, 488 
Railwayman's Convalescent Home, +:>2 
Railwaymen't Eight Houi Day, Prop 
Regina" Ticket Printing Machine, 249 

Reini d i 'oncrete foi SI. epers, 65 

Rep,,it on Railway Agreements, 599 

J let urn Ticket Law. 344 

Rolling St., el. ,.n the Great Westi m Ry., 394 

Rule 55 and Railway men. 340 
Schmidt's Superheatina Company, 39 
Schmidt's Superheaters on the L & N.W.R., 40 

Scotch i Is I rain I >■ railed, 19 

t.-li Railway Appi al, an Inter, sting, 634 
t.li Ship Canal, The Proposed, 587 
Scottish Ambulance Shield. 466 

' lii.niiiy into Germ n si ,-. Rys., 124 
Railw .... The Absorption of, 490 
Scotti h Railway I radei i ociat ion. 467 
Seal, „ih and Sett, ,11 Junction El, etrii Ry.. ran 
s, arm n - Strike and Gr at Central Railv 
Selbv-Goolc Railw.,... The New, 227 

sinl, -,„.„, Land I - b\ Great 

Railway, 564 
Sheffi, Id Engines, \n Oidei for. 22:, 
Shropshire and Montgomeryshire Ligh R 

u.m. 343 140 
Shropshire, New lane to. 14 
Signalling on the Great We h rn Railway, 218 
Se.ai.iln, in ii lion I,, I Lil . : 
Sign il on I hi U R tilway, 227 

So, iety of ] I r, |i,7 

South East, i .1 i liatham I: lihvaj and the 

Post i m 
til Ea ti in anil I hatham Ry. Mail ' I - 

South Easti in and Chatham Railway, \, n 

Pullman i ai s , ., i, , on. 300 
South I-'. i t, rn and I hatham Railw.,-,. New 

Steam hip foi 371, 588 
South Eastern and I hatham I: 

In G i-marn 117 
South Eastern Railway ,. Jenner, 167 
South Eastern Service to Switzerland, 324 

S.aitl I. St. amboat I lompetition to, 340 

s. nt hem! Traffic I - mpetition, !I7 

Smith \\ p it Judarnent ii 

mi the Great Western 394 

Stati I am c and Railw.,-, Soei - I 105 

Station Root and Brid 

si. amboat ' unpet it ion to S hi nd, 540 

Steam Heated Carriages, II 1 

hi s E, \ I Ry, 371, 588 
Steam I urbin al I helsen Power' Station, ."il4 
ktoi ■ Riant foi Ry. Electrification. 264 



London Electric Railw 



Supplement to 



Strike ." <»- North ' 
, the Bank - 

... Bournemouth, Z81 

Taff Vale Accident, '-' :; 

Tail Vale Railwaj v 

Tare Weight ■ ' l ,. . ,. 

Tarporleyto-Nantwich P R.V-. '-' 

Tclenhi ' "''> ' l,; """- l:;l 

Xi mple S( ition K 

Ticket Frauds, Prevention 

'"" • ';,' ,. «« 

Di pute between R ' ' ; 

v, 632 

M ' . 202 

Under and. All. S ■■ ' '- ""• " :t - 

Undcrground Elcctrii Rys. Powci Stati 
roun d Etoctrii Railways Worl in 
ment, 199, 263, 395, 188, :>'■<< 

\ ■ .! Palaci 1 !■ •'■■ Railway, 

|.| 

W , -. [Tool le on the Gri ..' Western, 481 

. l M| :i 

! i 276 

188 
Welsh Light Railwa 

\\. [g| : '• w, 506 

West i heshin Light Railway Si heme, 249 

. . ;. i 5 
Willi sden Station Collision, Bi aid i I I radi 
rnquiry, 291 

Len'e Trains an I 1. .< .' . 273 

Zone System oi Fan-. Su 19, 44 



THE RAILWAY I [Ml 5. 

Grand Trunk Pa : •"" ' s '" 

508 

1011 Wl 

I i 

lion, BI 
Grand I nfni "> '-'-' 

320, 132 53 ' 

Hudson Ba B •"'- 

Hon, 191 

; m, i s . -.' s 

i, in. :)7n 

National Regulation of Unit 

roads, 340 
New York, \ Sul. »a\ > 12 

i Railroad 

Electrification, 370 
Nova - • "'• ' ''•' 

I 1,1 Fui 1 , ii the I an. i. Iiau P 






i, Elei 
Pennsylvania 

491 
I ... 1 1 1 . 

Pennsylvania 
Pennsylvania 
Pennsylvania 
Pennsylvania 
Pi ii 



trie Locomotivi lor, l sl 
tmpr <\ ■ ment -. 1 1 
Railroad Corn Spi cial 

l; ulroad D '• '' • ■ 337 

Railroad Electri I 
Railroad Stock, [i 

■ Ri Vppi 
be Grand Trunk Facific Ry., 313 



| 

I 

I 

I 

171 

[ndian and I lunial Contract*, 1 1 

[ndian Light Railwo 

[ndian V 

Indian I 

Indian R lilw 

I 

Italy, \ 

Japan, R D 

588 

ment, 225, 320, W 
Mom Rail tot South Austral 



AMERICAN AND CANADIAN NEWS- 
Pi of, 227 

193 
hi Railw i) Rat ■ l " 1 ' 

Railways and Eli ctrification, 179 
British Columbia Electrii Railway, 19 



Quebec and Lake St. John Railwi 
Quebec, Propo i d Ni « Railway in, 489 

Railway Building in ' anade, 124 

Railway « lub Journal, »9 

llailway Elcctrificati in in M 

Railways in Nova Scotia, H9 

Railwa) Slei pi I in Vim ri< i, Scan ity of, 64 

Railway Tii ki I I >} Pi ' ■>••' ■'" Tubl ■ 8 

School fi i R lilwaj Ipprenti :S71 

I w rking, 180 

Subway Systwn fbr New \"ik. 12 



. Railway Building in, 124 

i ana. lian I anal Scheme, s 

in i are, Eli ctric Lighting of, 42 
, n i lonciliation Board Awards, 316 
.,, Developmi 
i anadian Locomotive Works.Sali of, 586, 612 
i ana. ban Pai iti and i Ml Fui 
Canadian Pacific Atlanti Traffic, 300 

i 168 

way, B, 342 
. r i: lilwaj ai .1 < unord I ■ . 367 

■ Railwa) Extension . H9 
Canadian ii Shops, 588 

Canadian Railways, H8 
l 
.i.m Railways and i I 
i anadi in R - lew, 18 

[.. "I -J 
... and Electrific ition, 18 
l i 

B ill re, 108 

Development of Canada by Railways, 62 
Dining 

31C 
- 394 

. !-' 
180 

Shippii -. i- 

243 
Educational Train, A. 226 

It l 
l Trunk New Lii ■ . 370 

:'.71 

i - 



Track Scale with Mechanical Hump, 514 
I ra ffii l:. |uin ments in Poronto, 13 

United States Ent< rpri 

United States 1 Coi imi rce ' ommie- 

United Sta Raili . National Regulation 

! a tes, Safe Working in, 491 

n \m. i ii i, 19 



FOREIGN AND COLONIAL NEWS. 
V iial Ropewa) 

; . e ine"s and Wagons, I 

nun.. Tramways Undergn und Lines, 

634 

n 

Vrgentii a Rai I ' ; 

Argentine Exhil ition A\ nrds, 17 
Italy. 344 

1 
. 293 
Baro-Kuno Railway i ' ' 

ing l'i. spciity, 11 1 
B ii , i: lilways, Engines and Trucli 

D 
Berlin El 
Buenos Ayres, Impend 

V I i R 
Bi I R Const 

Cape Railwd) . 119 



New South Wales Railwa) • 

in, 167 
N w South \V ili B 
New South Wall - 'I ran porl 
New Zealand Railwa) Mini I 

ment . 344 
Norway, ' heap i am- - in, 345 

(hi Fui 1 in Austria, r.34 

■ lilway, -171 
I Elccti Proposal, 37 

202 
Paris Suburban Elei ti 
p J i l. Brai h S i 
r ,. ,i . in d New H ■ -'-< 

Queensland, Labour-Saving Machinery in, 491 

land R lilway Scheme, '-"l 
I i ,■ the Berne Railwa) I 

Rail Man ifai tun rs Pi Pel 

p rcss, 16 

Railway Devi lopment in Ja] 
Railway Development 
Railway Engii eer's Woild I 

- 
Revenue in \ 
Railway Supplies in So 

Railways in Kin desia, 31, 200 

ilways in, 31, 200 
Rolling Stock for Ind 
Royal Gifts to South 



Santa Fe Railway i • ' 
Santiago B - :, '_ 

Servian Railw "" 

South Afric i, Si ri< 

S. .nth AI 'I '.i 

South Afiiean I ' 
South Afi 
South VI 

- 
South \ 

Smith AI 



Supplement to 



THE RAILWAY TIMES. 



[July 8, 1911. 



PERSONAL. 



Vn, . I . 180 
Ucers I >ouj las, Rt. 

Hon. A.. "I" 
Allen, H . 539 
Allen, H. 1 . 155 

rong, X., 123 
Ai mstrong, T. M. E., 

Avis, .1.. HIT. 37" 
i: P.. S., 347 

B, .,1, <;, 11. :,i.i 

II \ . 13 
Bebbington, 170 
Binnie, A., 180 
Binnie, Sir A., 17 
Binnie, W., 17 
Bolt, G., 13 
Bonsor, II. I ., .'547 
Brassey, C. D., 17 

■n. V. VV.. 201 

Brittain, T. I.. 66 
Brooke, T. 1'.. "II 
Brooks, 347 
Brown, ' 564 
Burlev, M., 347 
Burls, Sir E. G., 347 
Burtt, I'.. 17'.'. 226 
Byles l B., 250 
Oink, T. i... 43 
Carlton, V. 102 
Carmti bael. \V. J., 43 
i ,M. r. \Y., 43. 66 

Carter, J., 490 

167 
Clark, c. 4:: 
Clark, J. VV., 43 
(lark. \\ i I 
Claughton, G. H.. is. 

193, 22,, 
Clayton, R. 11.. 43 

, \. F.,66, 20] 
i onwaj I i ■ 
I iok "ii. A i . 17 

mber, VV. H, 4:; 

i ..... i:.. mi 
Crai I : . 1 1 8 
( luningham, G. ' ,588 
( unliffe, \V.. 347 
Curley, T., 22n 
Danbv, C. G. H., 299 
E 1... 226 

int. 298 
l>. nni -i S., 370 
Dent, T II.. l-i 634 
1 1. uchar . I '.. 588 
Dobie, 4. i . 347 
Dundas, VV , 564 
Dunsdon, VV. 'I'.. 17 
Elliott, II.. 524 
Ellis, R. P., is. 411 
Farrer, Lord, 336 19 I 
Field, C. E., 19 
Forsvth, .1 226 

>n [•; . ITU 

•I , IT 
Garner, R., 179 
i.!.,--. .Ii. 
Glenister, I.. C, 298 
Goulding, Sii VY, . 80 

634 



Gregory, S. M., 17 
Grove, E. C, 346 
Grundy, W. T., 1'.'" 
Eackett, 1.. 324 
Hall, . 13 
Hall, G., 123 
Hawkins, VV. B., 564 
Hawkins, VV. G., 539 
Havs, C. M.. 41S, 443 
Heath, J. 1'., 250 
Henley, G., 443 
Hewitt, Sn T.. 383 
Hiam, R. \V.. 17 
Hill, V.. 124.324. 3(13. 

I'M J39 
Holt, J-'.. 66, 33.; 
Hopwood, Sn 1"., 270 
Horwood, Capt., 1 Tl' 
How, T. VV., 179 
Hubbard, A.. 226 
Huddleston, G., 43 
Hunter, VV. 11.. 43 
Hutchinson, 1>.. 539 
Hutchinson, VV-, 297 
lil.a. VV. •!.. 443. 539 
[nglis, Sn .1.. 10 
Jones, .1. I'm 
• In. I, I. A E., i,3l 
Kay, H. R., 123 
Kill, >ii, K.. 123 
Kitchener, Lord, 564, 

i.lii 
Kit-,, ii. R. D., 539 
Knollys, Lord, 610 
Lambert, C. D., 43 
Laurance, J. W., 17 
Leslie, Sir B., 37. 219, 

369 
Lewis, Sir VV. T.. 610 
Lindley, T.. 17 
Lindlev, VV. H.. 17 
Lloyd, .1. i . IT 
Londonderry, Mar- 
quess of, 467 
M icaulay, J.. 324 
Mackenzie, Sir VV., 

I;,:, 
M tckcnzie, VV., 1 , 
McLaren, Sn C. B. B„ 

610 
McLaren, 1'.. 513 
McLelland, — 43 
\| i, rae, C. ' .. 201 
Mann, D., 17 
Mann, S. T., nil 
Manock, II.. 17 
Mam, in. (... 242 

l . 250 
Mai I, ill. A.. 180 

Mill n. li. A.. 14!' 

\l Ewan, R., 634 
Michod, 1'. D., 27i, 
Midwinter, Capt. E. 

i,|n 
Mills, R. II.. till 
VI II . 37" 

Moorhead VV II B., 

17 
Morlcy, S,. 123 
Morris, .1.. 20, 111 
Morrison, VV., 490 
Moses, J 
,\ ish, A .1 . 13 



Nicholson, J., 298, 3.2 I 
Oakley, Sir II.. 346 
Oldham, 11. S., nil 
Osborne, VV. V 143 

190 
Owen, R, 383 
Owens, Sir c. 23s 
Paget, si, ]•;., l.-,.-, 
Park. C. A.. 102 
Parkin, — . 123 
ParshaU, H. V.. 346 
Partridge, G, 346 
l'.mll. R. .1.. 3S3 
Pigot, Sir G., 564 
Pilkington, Sn i ... 251 
PI, „. . Lieut.-Col. H., 

1,31 

Pontefract, F. A.. 634 
Potts, II. S., 17 
Powter, ■!.. 250 
Priestley, Sir VV.. 370 
Proud, J., 411 
Randall, F. G., mi 
Reeve, .1. W„ 634 
Russell, VV.. )so 
Savidge, IT.. 43, 
Scorsby, (I.. 370 
Selbourne, Earl of, 

31. 66 
Shaughnessy, Sir 'I'.. 

347. 490' 

MIL I. ill. \ . ISO 

Skyes, .1 . 324 
Smart. H. (.. nil 
Smith, R. -I.. 41 
Smith, 'I'.. 43 
Smith VV II . 298 



Smyth, li. IT.. 324 
Stalbridgc, Lord, 18 

193 
Steintz, .1. J., 190 
Stephenson, E. 1'., 123 
m, phenson, VV. G., 

220 

\\ II.. 270 
Symons, G. T., 270 
Tait, 1.. 17 
Tatem, VV. 4.. 276 
Terry, (■.. 43 
Thomas. T., 123 
Thomson, T. IT. 490 
Thomson, V\' . .-,30 
Tilbury, E., 624 
Torme'y' .1. A., 324 
Trench, Capt. B. T. 

17 
Turnbull, I:.. IT 
Van Raalte, J., 330, 
Wadden, YY H, 66 
Wain <;.. 17 
Walker, I ., 370 
Wall. 1'. 190 
\\ igall, IT. I... 330 
Wells-Hood, VV.. 66 
White, VV., 010 
Wilkes, R., 123 
Wilson. .1. W., 610 
Wilson, T.. 123 
Winterton, Karl. 539 
Wolmer.Viscounl . 3, IT 
Wok,-. W. I'.. IT. 123 

W 1. I.. I!.. 17 

Wood, W., 3,47 
Wright, (... 123 



OBITUARY. 



Aird, Sir J., 42 
Airedale, Lord, 298 
Anderson, .1., 611 
Bainbridge, IT.. 186 
Hoi. Sir W., 186 
Campbell, H. W, 12", 
Cawdor, Karl. 156 
Collins, I.,, nl. 18 
Dewar, .1. .1.. 393 
Drummond, Sir <;.. is 
Elliott, Sir C. B., 303 
Forbes, G W., 186 
i Irani G. S., 588 
II,, 1,1, v, A. .1.. 42 
Hoskyn, C. R., 123 
Jackson, H. II 12 



Lyon, 1> . 34S 
Monckton, VV. I . 30.' 
Moselev, E. A, 303 
Neale, J. IT.. 539 
Padley, G., is 
Palmer, . 121 
Scott, A., 1T0 
Seotter, Sir ('., 43 
Slattery, H. F., 486 
Stalbridge, Lady, 298 
Tanered, Sir T. s.. 123 
Thallon, ,1. 1'.. 303 
Wolverhampton, Vis 

count, 216 
VYorthington, J., 367 



Board ,,f Trade Railway Returns for 1QJ.0 

Preliminary Summary, 460 
British and Irish Ry. Dividends, 50. SO, 104, 150 
Chart of Priois of Home Railway Stocks. 20.5- 

229, 253, 373, 421, 493. 517 

Debentures, Index N>>s. ,,| Ry., o. 102, 336, 456 
Dividends and Yields for Last Three Years, 68 

Forthcoming Dividend Announcements, 40 62, 

84, 102 

Grand Trunk Railway Working Statements, 226, 
320, 432, 530. 033 

Half- Yearly Railway Results, I'M 

Mexican Railway Working Statements, 225, 
320, 4oT. 339, 623 

Money and Stock Markets, T. 31. 55, 79, 103, 
135. 10T. 191, 215. 239, 203. 2s7. 311 335, 
350. 3S3. 407, 431, 455. 479, 503. 527, 551, 
575. 599, 023 

Official Tralli, Returns, 23. 21. 17. 4S. 71. 72. 
05, 96, 127. 128, 150. loo. 183, 184, 207, 208, 
231. 232. 255, 250, 270. 280, 303, 304. 327. 
328, 351. 352. 375. 370. 399, 400, 447. 44s. 
471, 472. 105. 196, 519. 520, 543. 544. 567, 
568, 501. 502. 015. oio. 1,30. 640 

Railway Stock ami Share List. 21. 22. 45. 46, 
00. To. 03. 94. 125. 120. 15T. 15s. 181, 182, 
204. 200. 228, 230. 252. 254. 2TT. 278, 301, 
302, 525. 52o. 34!'. 350. 5T2. 3T4. 30T. 30s. 
120. 122. 445. 440. 400. 4To. 492. 404. 516, 
518, 541. 542. 505. 500. 589, 590, 013. 014. 
037. 03s 

Traffic Returns for tin- Year, 9 

Underground Electric Railways Working Stat, 
mint. 19!'. 3i,3. 395. 4SS. 5T0 

Weekly Trail., Summary, 7. 31. 54. 78, 102. 130. 



10S. 191. 
383, 407. 432. 
500. 1,23 



ill. 334. 359. 
527. 550. 374. 



NEW COMPANIES AND NEW 
ISSUES. 

Bahia Blanca I North Western Ry., 168,456 

Brazil I: tilwaj I ompany, 33,,, 
Corboba ' lentral Railway . 51 
Grand Drunk Pai ific I: dlway, 24o 
Grand Trunk Railway ol ' anada, 7s 
In.li., 3 1 Pel i , in st,„ k, 204 
Kansas City Southern Railway, 136 
Ke'ntui kv Terminal, 51 
London Elect™ Railway, 191, 22" 
Queensland < lovernment, 383 

STATISTICS AND FINANCE- 
Bank Return, 8, 3.2. 56, 80, l"4. 136, 168, 192, 

210. 21". 201. 288, 312. 33',. 384, 108, 133. 
i;„,. is,., 504, 528, 552. 576, 024 



PUBLICATIONS. 
A. B. (!. Guide to the Highlands, 610 
By Forest and Country-side, 167 
Canadian Railway Traffic Book, 288 
Country. Suburban an, I Seaside Homes, 400 
England's Greatest Poet, 610 
French Railways, 39. 196 
Great Central Publication, 299 
Crrat Eastern Railway Magazine, 564 
Ctrat Western Railway Magazine, 10. 557 
London and North Western Railway Investi- 

tot,- Souvenir, 564 
North Eastern Railway Magazine, 67 
People's Forest, 540 
Railway Publical ions, Some, 562 
Railway Year Book, 417 
Roval Insurance Go's. Record ,,i Spot 
Royal Route to the Highlands, 610 
Tie, , Rivet Tours, 610 
Travel Guide Books, 610 

a! l:.,,l«.e, Manual, 158 



Ante 

Slate 



CORRESPONDENCE. 

Signal in Vmerica, 5s 
ml. Ik, . 156 






reel, Strand. London w C 



[ \\!' \ 



Till |< \||.\\ U TIM] S. 



LONDON & SOUTH WESTERN RAILWAY 



SOUTHAMPTON DOCKS 

POSITION AND FACILITIES UNRIVALLED. DOUBLE TIDES. 



HIGH WATER 4 TIMES EVERY DAY. 



. wjtcr. 
LARGE OCEAN LINERS DOCK ANY HOUR. DAY OR NIGHT. 

Pasicnjcr and Mall Trains jo alone>lde Steamers. No Tender rtquirfi. Docks lully equipped with Hydraulic and Electric Appliances. 

"Trafalgar" and "Prince of Wales" Dry Docks, 875 feet and 750 feet long respectively. 

■ 

COMPLETE EQUIPMENT OF GRAIN ELEV .TING & CONVEYING MACHINERY. 

SPACIOUS SHEDS FOR WOOD GOODS . UNDER COVER. 

Line Steamers. 1 

STEAMSHIP SERVICES 
PARIS, via SOliTHAMPTON Ac HAVRE. Dallyleoch way Sundays excepted- 

Theft PARIS. ROUEN, ETRETAT HONFLEUR. CAEN. TROUViLLE-DEAUVILLE. SWITZERLAND, SOUTH OF FrtANCE, Ac 

rom 
Steamei leav< - Havre 12 Midnight, lasi train fi 

SOUTHAMPTON AND ST. MAl.O. Passengers and \ I ... i ,.,,,, i , -.. 
SOUTHAMPTON I ST. MALO I ST. MALO to SOUTHAMPTON I .; . Wednesdays and Fridays. 

SOUTHAMPTON AND CHERBOURG. Passengers and Merchandise, 

CHERBOURG SOUTHAMPTON Ei I ly, Wednesday, and Friday 



SOUTHAMPTON I CHERBOURG 1 
at ia.j midnight L ist train h 



and Saturda 



SOUTHAMPTON 
CHANNEL ISLANDS. 



o, o.so p.m.) night, at 

i and Fridays in each dir 
From SOUTHAMPTON Steamei ills 12.30 midnight Last train from Waterloo i.so p. m . 
To SOUTHAMPTON m i::i-r || SSEY, 10 am. (about). 

' 'nee weekly each way. 



JERSEY to ST. MALO, "and 
JERSEY to GRANVILLE, 

There 'are also sen SOUTHAMPTON u 1 HONFLEUR, with Cargo only. 

The fullest information on all points connected with the business ol the Docks and tho Steamship Services may be obi dned on application I 
Marine Manager, Mr. I'. M. Williams, Southampton; for I from Mr. H. Holmes, Superintendent of tb n Mr. A. 

Malbv. Goods Manager, Waterloo Station, S.E. 

(334) CHAS. J. OWEN?, ', 



BROWN BAYLEYS STEEL WORKS, Ltd 



SHEFFIELD. 



Manufacturers of Steel by the "SIEMENS" &" BESSEMER " Processes. 

Makers of TYRES, AXLES, and SPRINGS, for 

RAILWAY LOCOMOTIVES, CARRIAGES, and WAGONS, and also for ELECTRIC CARS. 

S PECIAL GUARANTEED SPRING STEEL. 

SPECIAL STEEL BLOOMS, BILLETS & SLABS. 

London Office— Suffolk House, 5, Laurence Pountney Hill, Cannon Street, E.C. 



THOMAS TURTON & SONS, l 
Sheaf Works, SHEFFIELD. 



-ON DON : 

90. CANNON STREET. 
CITY. 



Spring Steel, 

Cast Steel Forgings, 

Picks, Hammers, Tools, 

CAST STEEL FILES. 
RAILWAY SPRINGS & BUFFERS, 



THE RAILWAY TIMES. 



[January 7, 191 1. 



TUDOR 

ACCUMULATORS 

WITH 

AUTOMATIC 

REVERSIBLE 

BOOSTERS. 



Many large Plants at work in Electric Railway, 
Tramway and Power Stations. 

Complete Battery and Booster Plants 

Designed to suit Special Conditions. 



TUDOR ACCUMULATOR CO., LTD., 

119, Victoria St., LONDON, S.W. 

Works: DUKINFIELD, near MANCHESTER 



Of interest to all who follow 
the workings of our Railways. 



e^S^ 



RAILWAY 



SUBSCRIPTION RATES: 
2s. per annum, post free. 
Art Paper Edition, 3s. cio 




CENTRAL 
JOURNAL. 

PUBLISHED MONTHLY. 
FULLY ILLUSTRATED. 



- 

THE EDITOR. Ccnt-al Station, Leicester ■ 



Wm Burrow slsoNf 



BRUSH MANUFACTURERS. 




Contractors to the Railway Companies. 




A Convincing Reason 

why the typewriter purchaser should select the 



it 



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has always been furnished by the unique Remington 
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Eighteen additional reasons are furnished by 
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REMINGTON TYPEWRITER COMPANY, 

100, Cracechurch Street, LONDON, E.G. 

Telephone No. Avenue 5565 (4 lines). 



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RAILWAY MAGAZINE. 

AN UP-TO-DATE 

illustrated J be had at all 
railway Railway Bookstalls 

PUBLICATION. ^""""■i' ^vv^oim.- 

Subscription— Art Edition, 3 6 per ann. 
Ordinary „ 2/6 ,, 

Paddlngton Station, London. 



Our Home Railways: 

How they Began, and jHow they are Worked. 
By W. J. GORDON. 

In 2 Volumes, medium r 8vo, with Full Indexes, etc.. and lllus- 

(rated with 16 unique Coloured Plates. 50 Full-page Enei ., un» s, 

and upwards of 250 smaller ones from the latest photographs. 

many of which have been specially taken for the work. 

(Style I. : Eleganth hound in clolh gilt, gilt top. each 6s. net.) 

(Style II.: Handsomely bound in half- morocco, extra, gill 

lop, ea< h 10s ni I 

F. WARNE & CO., 

CHANDOS HOUSE, Bedford Street, Strand, London. 

» i\ u;\l . LONDON ! i h phoi i So 2208 fi] RKARD. 



January 7, 1 THE KMI.W \Y TIM] S 

Railway Companies who own 

Burroughs Adding Machines. 





No. in 




Style 


of 


Name of Company. 


Location. Use. 


Date Bought. 


Machine. 


Great Northern Railway . 


Dublin 1 


Sept., '09 


15 Co 


umn 






Dec, '09 


15 


,, 


Great Southern & Western Rail- 










way 


1 


Oct., '09 


15 


,, 


Great Central Railway. 


Manchester 1 


Jan., '05 


13 


,, 


Great Northern Railway - 










Stores Dept. 


Doncaster 


Mar., '07 


13 


,, 


Loco. Accounts 


» 1 


Sept., '01 


9 


„ 






May, '03 


9 


,, 


» ;; ;; 




Sept., '04 
Dec, '06 


13 
13 


" 


", ',', 


If 


May, '07 
Nov., '09 


13 
15 


it 


Great Western Railway — 










Engineers' Office.. 


Swindon 2 


June, '07 


13 


„ 






July, '08 


13 


„ 


H rr ■ ■ 


»> 


April, '09 
July, '09 


15 
15 


" 


London & South Western Rail- 










way 










Accounts Office 


London 


June, '03 
Feb., '04 


9 
9 


" 


Midland Railway - 










Loco. Supt.'s Office 


Derby 


April, '04 
April, '04 


13 
13 


" 


North Eastern Railway 










Loco. Dept. 


Gateshead 1 


Nov., '04 


13 


„ 


Stores Dept. 


1 


July, '07 
Nov., '07 


13 
13 


" 


North Eastern Railway — 


Hull 


Sept., '09 


15 


„ 


Goods Station 


Newcastle 1 


July, '08 


13 


„ 


Engin'rs' Accounts Office 




Dec, '09 


15 


„ 


Accountants' Office 


1 


June, '10 


13 


pi 


Estate Agent 


York 1 


July, '08 


9 


„ 


Traffic 


1 


Nov., '05 


13 


„ 


Statistics 


1 


Feb., '09 


13 


t> 



FREE TRIAL THE ONLY WAY. 

Every Department in every Railway is entitled to a Six WeeKs' 
FREE TRIAL. Why not send for a Railway Burroughs Adding 
and Listing Machine and try it on your actual worK ? We 
pay all expense, taKe all risK and assure you that you will 
be under no obligation whatever. 



BURROUGHS ADDING MACHINE LIMITED, 

Burroughs Buildings, 76, Gannon Street, London, E.G. 



THE RAILWAY TIMES. [January j, 1911. 



COMPANY NOTICES. The Great Northern Railway Company. Great Northern Railway Company 

(Ireland). 

The Bengal-Nagpur Railway Company. 1VTOT1CE is hereby given that the - - 

,. .. , ^> 1 ks ki-i.t in Hi- c..iii|.:,i,\ t..i iih- i.LM-ti .tmn riMIK < 1 rent Northern Railway Company 

Limited. ,„ , ,„ , ,. ,,. <,,,. 1. „,.,| t ■ ,.„, th. u;n. ]. ,„ ., ,, ,, , • , 

January until the 10th February next, both ,l;,i- ,,,,,, f m e.-eil Good, \\ ,",". 

\T()TU'E is liereliv given to the Holders inelusivi c,,,,, t th.- -,«■ ii..-.-. ti,,n ,ii.i.i. ; -, an.i t. d 

> l By oi'de Tei.de v ' btained on application to th. 

. .1.1. .... tii,. ". m n l: 1 1\\ - scc-retan at Imiens St t I. 'in, urn-. Dublin on 

.|| th;,! tl„ llli.rtOI. With III, = Hi , ' -i, In ■' I' ' :■ 

I'm India m (.' I, Kind's Cross Stal ,,, i,,i ,,„ receipt ol i. bonn fide rend 1 the 

thei iuy, 1911. i. turn ..l t lrawings. 

three .iii.l a i, n lers, under em.-i in., i !..■• I lender for 

-t with a disc it - \\ rj ' should be delivered to the undersigned nol 

i, led Ihe Holders ot TTMrvCDO UHMTPn later than 10 a.m on Tuesda; the 31st . lary, 1911. 

I„. ,„, . ,„t i, then . „■,, ,, .; ,,l TENDERS 1NVI1LD. „„ ,, , bind themselves pt the 

low, ■' 01 .:.- Fendi 

th, i"a ■ „ , ... n , '' MORRISON 

Manchester Ship Canal. s>< tary. 

\ Co shillings p-v t'100 will be - et.irv's Office, 

and ..:li.- iguised Vgent TENDERS FOB STORES 'miens Stn-it T m» 

. ,,i the Board, Dublin 3rd Janu iry, 1911. 



R0BEI « rpilK Directors of the MANCHESTER 

1 SHIP CAXAL COMPANY are prepared to 



c ' !'■''■',: 'TT u,„, ,■ receive tenders" for the supply of the' fniiowins Great Northern Railway Company 



.lull, I'M I 

Steel ■,. i 

.„..,., i \ . B Washers 



i and i rpHE Directors are prepared to receive 



Great Eastern Railway. i white and Red Lead pitei, *,.„,. .,,1 —i, 1 T ,., .,,.,. ,,„- the suppb i Deiiv 

_ :, Oakum, Enjine Waste. sponge Cloths, S Belfast Station ..1 Xine S 

DRAWING 01 LAING'S MORTGAGES ( ' jj ""' ' . Draw nie- N"'^'"-'' 

NOTICE ,. hereb^ given that ,!,.■ JJ^Z^'Z p » oi Tend ... ^ilZ^t^b^^ 

±\ f„n, ,„, i, ... M,,, i,. ,._., ii. •,-, drawn this day t 



mi on the 10th January, 1911, tit n p 
of 20 per cent , and the same mil be paid "II ot 

being presented, ,lnl* i i.t.-.l mih al In 

C ions ,"',, bed to the Sec retarj ol the (', 



pc i 'ii, cti '"1 !'■ s " : Te "d' i "'"* '"' ,,t a bona fide [lender end the 

ob and after Mondnj the 9th J y, |',.,„|,.^ ma.l- out on the Forms supplied bj the 



pplietition ut the Store,- I i.-|..i 1 1 im-i.t Al .... In'-t, i Compani must be deli 

Docks Trafford Road. Salford. [utiMidiim Cunt,- s ,.„,i,„s,.,i ■■Tender for Brid?es." lo the un l.c -cu tie. 

ste.lt ti.iilariM ti,,. Class o si not lntei than 10 a.i Tuesday, the 2«h Jonuarj 

'fid date all lllt.te. Ml. h " Se'.'hVlVn!]', ,'- ',' I, , I , ,,'-e, I ' Tillcl.T Idl ." ' T1 ,, 1 .„,,,,,,-, I ,, n ot I I 1 1 ie 111 - I 1 .- t , . : , , , e | ,t t !l . 

cues will eeas. t ,„. delivered to the imdersiijned nol th n ,,„,., , lender. 

G. 7. S, 9 md U ■ „, ., ni , a.i, nil i\ MORRISON. 

1 i,i-l--,. ,;, s, 'i :,n,l Hi. So foreign matter, letters cireulai et. ■ 

V 77— 1. 3, 3, l .i.-l" „., h the tendei when Secretary's Office 

v s| ,., . , ..,., ,.,. in ordei "i th. I tors, ■. J • renninas Dublin 

1 LAI D .1 HAMILTON. , \ K\ RE Ird January, 1911. 



I' LOMAS 



tl, Spring Gnrd ns, U m. he st. 



i"i 



i e.c Bombay. Baroda and Central India 

Midland Great Western Railway of Railway Company, Limited. 



East Indian Railway Company. rpHE Directors are prepared to receive 

mHE Directors of the above CVmpany are 1 u,, .,,,„„.„,„, T., -.1.1 lru, .i.,„.,a: , rend. 

IVTOTICE is hereby given thai the [ „ d t0 T „,,.„.,., f„ r the Supply lor th-esnpply ot m. ; , a ..a,, 

\ Reg - - his I .1.1 - I I- the follow,..! material --1MI, I, ,„-,., "Ml, Me, 1 •■'el'''- ; , ' ' t ,,.,. , , ,,' ^, Tth, - e -Ihe, , 'n 

rent New Debenture Stock u.d :i' per cent Debe.i „„|, the re.p.mt.- .piantitv m K.«h-plates, in accord- »™ i" "'.,,'' '. ...........'will ,„, t |„. ,,,, ,l, 

.,,,,■ Stock will be .1. .-."I 11 -,,„,, I. ,1 ,1, llth „,,„ „„.„,„„, which , ... be obtained on I".. "•' '" - " ' ' " ' ' ' ' "_ 

,1.1 ... ,1: 11. ." I''.. M 'I- I"! ■!"■ " I"'"'"" ,,,,,11 to the c t Eng '' Con ""', ' ,' r, , themselM pi 

^,"'.,, , ^ l \.;; i :\\::^'";;;;;. M , ! '':,; l :;;;.' 1 , , r, :r ";„'," r,' 1 e ,|,, ,'i',',e. B, \' "!',!"'::;. ,';, ! "'."'i'„i' '."'ii"i» i f . the specific:.. c crommelin. 

1 ..11:; I 11 I I . ~. , 1 1 1.'. 1. ..I., e.. .. I, .. I. , . not ...Inili. 



- h I' 1911. Hon foi 11 ill md Fish plates which i not ret 

thes, -t... I.- will nol h, lMf » •' "" 

th' K. mi-'" ,. . , ■! -t in each ct, - be made .,, '■" ' V I. ;,,.,, !! 



the I at I ." the -, „,..„„.,,. must be 3th J. S 1911. 

,1,-llV. :■ I I Bl, '.HIS Illll.llll el. In--. 'd 

I'. W vol \'. to thi C i M '■ » llailn.n , and endoi'M 

Rail" and Fish-plates. '.." ... PDSITinN VACANT 

I ■ i i ' ,„, M la, l.itl, l.'elin.ai-v 1911. rUSlllUH VA ^ A|111 

' ■ ml . . I Tin I'"'." I"i - t land tl.e.nselv, to in, ept the 

I. ii. "i Tend 



,,, I > Ki,M 1 l.'KI >, Secretary and Sub-Manager 

P1 , : , ," ,.\. HA1 I I ("' " niilwaj in Spain. Must speah and write 



Subscription to THE RAILWAY TIMES. -.,., ,..-!. ii.,. .,ti 

Year — Twenty-five shillings. ' ^one Te. 

Six Months— 12s. 6d. ' :i.d J 



One Year— Twenty-five shillings. B htone Tern ■ ^'^ "■"™ : " n ™™"'"\ ] ,,.i\ ""'""\"r!"i~ »iti,'"Vonies 'of 



.ii.i.iin \|...li in I. tt.'. with '. - o 

5 , to No. 7 - 30, Co 



RAILWAY CARRIAGE AND WAGON COMPANY, Ltd., 



INCORPORATING 



Patent Shaft and Axletree Co., Ltd., Docker Bros., Ltd., and 
the Willingsworth Iron Co., Ltd. 

IRON AND STEEL UNDERFRAMES, WHEELS, AXLES, 

AND EVERY DESCRIPTION OF ROLLING STOCK, 

PRESSED STEEL BOGIE TRUCKS, The " Brunswick " Weldlcss Disc Wheel. 

BRIDGEWORK AND ROOFS, DOCKERS' SUPERIOR VARNISHES, PAINTS, 

and FINE COLOURS, for all Climates. 

Dockers' "Hermaton" Paints tor Stru ctural and all clas ses of Engineering Work. 

fc. ReolsfcredOlliccs: SALTLF.Y. BIRMINGHAM. London Olliccs : 36. VICTORIA STRECT. WESTMINSTER. S.W. j*9 

^V Telegrams: "METRO." BIRMINGHAM. -RAILCAR." LONDON. " SI1AFT." WEDNESBURY. A 



A Journal of. Finance, Construction, and Operation. 



KCIX. 



SATI RDAY, | Wl KRY 7, 1911. 



No.i. 



PRINCIPAL CONTENTS. 















THE RAILWAY TIMES. 

Established n 1837. 

PUBLISHED EVERY SATURDAY. 

Annual Subscription post free 1 . 25 shillings. 



All communications for the follow 
later than 6 p.m. on 1- i 

New advertisements or changes in copy for the inside pages must In- 
received not later than <> p.m on Fridaj Advertisements for the 
cover must bereceived 1>\ noon on Thurs 

which proof is desired should reach us by tlu- 
second post on \\ edtv 

Mon<\ On should be drawn in favour of 

THE RAI1AVA, HIvlES, and should be crossed -.National Bank." 

Telegraphic Addn Vltlrmtry, London." Telephone \n. : 2048 Gcrrard. 

OIUccs: 12 Norfolk Street, London W.C 



ESTABLISHED 1809. 

NORTH BRITISH 
& MERCANTILE 

INSURANCE COMPANY, 

n which an- vested (he sh.ri - ol mi OCI u VI \k'l\i 

IN5URANC1 CO. LTD .v I III PAII WA1 PASSENGERS 

\~M k' \\U i.<i\U'\\> . 



Fire. Life. Annuities. Marine 

BURGLARY. ACCIDENTS, gc 



TOTAL FUNDS 

£20,000,000. 

\SM \l IN( <IMI 

£4,500,000. 



Chief Officfs: 

61, THREADNEEDLE STREET. LONDON. E.C. 
64. PRINCES STREET. EDINBURGH. 



THE DIVIDEND OUTLOOK. 
In thi 

: will 

declaral ions. I he hall 

returns published 

favoui 

will be seen from 

turns as pu 

en fairlv 
nsequently the b 

"t the hall ■ 

' > 1 1 the other hand, thi i 

distribute tl 
improvement in I 

think there 
the sharehi 
throu 
whit h 

their holdii 

very thing tl 
fidence. We do 

iume that thi 

mnii and alsi i in 1 

■ 
.• per com. 

Midi. i 
N'ortl 



THE RAILWAY TIMES. 



[January 7, 191 1. 



it is true, bul yel the first they have received for eleven 
years, ["he District ' ompanj' - has made exceptional head- 
way, ami with the extra balance earned forward al June 30, 
it is believe 1 that the hulk oi the dividend on the lJ per 
cent. Firsl Preference Stock, and possiblythe whole of it, 
will be distributed for the sec.. ml hali yea: In the i i 
oi the Greal Central also, good progress is being made, 
and iu plai e oi 2 per cent, on the 1S89 Preference, the whole 
of the dividend ol _| per cent, upon that stock is anticipated, 
and possibly also 2 per cent., or even more, upon the 1891 
Preference issue. As the hill dividend on Chatham Arbi- 
tration Preference was paid a year ago, any improvement 
in the case oi the 1 impan} must take the form oi an 
additional balance forward. Among the minor railway 
r corresponding improvements m the dividends 

be looked for, and it payments are as g 1 as may 

abh bi anticipated, the recovery in Home Railways, 
which has already made em ouraging headway, will doubt- 
less continue. 



THE POWERS OF THE BOARD OF TRADE. 

Some weeks are likely to elapse befon Major Pringle's 

report on the Aisgill Mo, a accidenl will appear, but it is 
>li that at the adjourned inquesl on Thursday next, 
when it is Imped that the injured enginemen will be able 
to give evidence, some further points will be cleared up. 
We may then learn more as to how the outbreak oi lire 
originated and as to the alleged disregard of Rule 55, 
seeing thai according to the evidence, the light engines 
stood on the main line for a period oi _:i minutes. This 
ruli says thai when a tram and this includes a light 
engine is detained at a home, starting or advanced start- 
ing signal, the driver must whistle to remind the signalman, 
and, if still detained, must send his fireman to the signal- 
fa ix, and the man must remain there until the signalman 
can let the tram go forward. \n item of interest to railway - 
■ ad the 1 ail ih. is that Major Pringle has been appointed 
assessor to the coroner. This is in accordance with Sec- 
tion 8 oi the Regulation oi R always A< t of 1870 ( ;a and ;=, 
Vict.J h. 78), which says that the coroner, on written request 
to the Board of Trade, ma\ havi an inspector or some 
person possessing legal or special knowledge, appointed 
as assessor. It will also be oi interest to note that 



for a " more tormal 
' ii Trade inquiry or 

by an inspei ti '1 a-. 

I>e conducted 1>\ t he 
possessing legal and 



Si ction 7 oi the same Act provides 
in- - 1 iga 1 ion " than the usual I'' ian 
than the ci ironer's inquesl , assistei 
assessor. Such an investigation is t< 
inspector, together with an assessoi 
pecial knowledge," 01 a count} couri judge, stipendiai \ 
ite ot metropolitan polio magistrate. Inq 
oi this nature are now ven rare, the lasl probablj being 
that held b\ Colonel Volland (senioi inspei ting officer), 
\li, Rothcn wreck commissioner), ami Mi. Barlow (pre- 
sident Inst. 1 nil lingineers), aftet the lav Bridge di 
in [879 I In- A' 1 h\- down iliat these formal investiga- 
tion must be conducted in public but no conditions are 
made a- to the ordinan inquiries ["he latter are, there- 
• neralh hold in pi ivate, ani I t In-. 1- 1 he bettet plan, 

a- lla- witnesses and offii id-' speak more lieeK than lln \ 
would in public. It ma\ In further noted that when ,m\ 
criminal proceeding are pending, a a result 1 'I an ai 1 ident, 
the Board ol ["rade report relating to such accidenl is not 
issued until the criminal action has been disposed ol li 
will now lie interesting to know what power tin- Board ot 

hade posses (oi enforcing ar»\ recommendations that 
may be made by then inspei tors let us suppose that, as 
.1 re ult ol the accident on the Midland Railway, die 
inspe lor recommends that all carriages are to be lighted 
b\ electricity instead oi b\ gas, 01 that all trains are to 
can v wrecking took. Po ibly it may ed that 

" loi k and Mock " should be installed, tan the company 

I., compelled to do tin- As to the last contingency, we 



may safely answer in the negative. The station at Hawes 
Jum lion is already open for public traffic, and the changes 
that were made there a short time ago have, we assume, 
been inspected and passed The Hoard ol Trade have 
then, no power to order any alteration, as it is only when a 
new hue also, under the Act of 1871, any additional line 
of railway, deviation line, station, junction, or crossing on 
the level is to be opened that the Hoard of Trade have 
power to express and enforce any opinion. The question 
oi their control over rolling-stock is not quite so clear, as 
the Act ot 1840, under which the inspections of new lines 
are made, savs that the inspei tor 1- to " examine the said 
railway and the station, works and buildings, and the 
engines ami carriages belonging thereto." It would, 
therefore appeal legall} possible for the Board, when a 
new station is opened on an existing line, to say that no 
carriage lighted by gas shall use it, but such an event is 
most unlikely. In this connection it should also be noted 
that when a new railway is about to be opened no parte u- 
lars as to engines or rolling sb ed lot the official 

documents only relate to works. We feel, then, that we 
safely say that no powers exist to , ompel any railway 
' ompany to make any change on lines and stations already 
open .a traffic. Railway companies, under the Ait oi 
1868 have to provide passenger communication on trains 
travelling a distance oi more than jo mile- without stop- 
pine,, and. under the A> I ol 1889, have to conce11tr.1l' 
interlock the points and signals and provide the block- 
system mi their passenger-carrying lines and automatic 
continuous brakes on passenger trains. Further, under 
the Act oi 1900, they have to obey certain rules framed 
by the Hoard ot trade with a view to safeguarding railway 
servants from accident, and in that connection the Board 
possess powers as to enforcing the use ot any plant or 
appliance which is calculated to reduce danger, and as to 
the disuse ot apparatus which may be. in their opinion. 
dangerous. Such, however, is the limit ot the Board's 
powers oxer existing lines. All, then, thai can be done is 
to make recommendations which the companies may or 
may not adopt. Those companies which respect or, we 
might say, tear the Board ot Trade usually adopt the 
rei ommendations, but, latterly, there has been a stiffening 
all round and the companies have accepted the risks 
attached to an exercising of their own opinions, tin-. 
aftet .ill, is h1i.ii was intended by Parliament, which has 
never wished tor any responsibility to rest upon the Board 
ot h.nle beyond that of supervision and advice. One 
why many recommendations have been accepted 
is dial the inspecting officers are fair and reasonable, and 
1 1 1 . ■ \ recognisa that tin- companies do all they can to 
avoid accidents. Yet they do not hesitate to criticise 
even the largesl and most powerful companies when tlnw 
are in the wrong. 



Index Numbers of Railway Debentures. 

Our Index Numbers for the prices of best debentures 
of English Railways, based on the average yield obtained 
from these stocks, are repeated below, and the table is 
brought up to date. The rate of interest is assumed to 

1 mi cent. 



1871 


7b 


End of April, 3 


ISSI 


92* 


May 


1891 


106 


,, June 


1896 


128 


July 


1901 


no 


August 


1906 


97k 


September 


1908 




n October 


1909 


0; 


November 


I'lIO 


00 


December 



1910 



01 
1)1 
'II 

89* 
88 

89 



January 7, I > I 



Till k\II.W\Y TIMES. 



"Weekly Traffic Summary. 

ipts for the week ended Jan 
iblished by the fifty foui pi in< ipal railways 
\ nited Kingdom, amounted to | vhii h 

.7 miles, I" 
l 
cqog the re* 1 ip1 - oi the same lines amount 
with 21 1 1" miles open gd. per mile. I 

was thus .in increase ol £58764 in the receipts, an in; 

in the milea increase of £2 8s. rd. in the 

i turns distin 

between the receipts from passen 
and these show ai 

in the passi | ts, and an increase " : 

js. od. per mile) in the receipts from goods ti 

the thirty-six railways 
six weeks in the passi 
while the aggregate ii 

I I 1 

mparison wi1 

MONEY AND STOCK 
MARKETS. 

Settlement Dates. 
ils : — Wednesday, February 1. 
Continuation Days. ricket Days Pay Day*. 

Mines Jan. to Mine- ....Jan. n } 

General n General ,, 12 ) J an - x 3 

Mines 24 Mines 25 1 , 

General 2^ General 2 

Mines Feb. 7 Min , I0 

General 8 General 9 > 

Our usual comparison of the present position oi thi 
Bank of England, the iMoney Market, the I 
Exchanges, etc., with the position hist Thursday and at the 
corresponding period of last year is given below. 

At Present. Ust Week. Same Week 
Last Year. 

Bank's Coin and Bullion £31.940.345 £31, 355.545 i'33,7 

Total Reserve £21.869,815 £21,195.33° #3,2 

Proportion of Reserve 

to Liabilities 35J per cent. 37; per cent. 39 J percent. 

Notes in Circulation .. £28,520,530 £28,610,21.5 £28.865.720 

Bank Rate* 4I per cent 4 percent. 4 per cent. 

Open Market Discount 3^ percent, 3$ per cent. 3 ,!- percent. 

Bankers' Clearing House £383,117,000 £180,162,000 £334,315,000 

Silver bars, per 02. (spot) 2, g 25 

Consols (account) .... 79,' 82S 

French 3 per cents, (ace.) gjt. 98L 

Paris Cheque exchange 251. 2(Jjc 25I. 261c. 251. 1 7J1 . 

New York 60 days ditto S4.82! J4.82 $4. 84 A 

Rio de Janeiro exchange 1 

V.ilparaiso90-dayexch'ge| 10 d. io;a. 

•Calcutta transfers .... 1 , 4 ; .1. is. 4 ■ ,1. 

Hong Kong transfers ..' is. io;d. :s. 1 is. 9 

Shanghai transfers .... 2s. 2s. 5M. 2s. ■, 

Bank Rate 1907-10. 
6 per cent, Jan. 2, 1908. 24 percent. Apr. 14.1909. 3 per cent. l-"eb. 10.1910- 

4 .. .. Jan. 16. 190S. 3 .. ., Oct. 7. 1909. 4 .. ., Mar. 17. 1910. 

5 .. .. Jan. 23, 1908. • .. .. Oct. 14. 1909. A .. .. lune 1.1910. 
jj .. ,, Mar. 5. 1908. 3 .. ■■ Oct 21, 

3 „ „ Mar. 19. 190S. *h .. .. Dec. 9.1909- 4 ,. ., Sepl 
2i ., .. May 28. 190S. 4 ,. „ Jan. 5. 1910- 5 
3 ., .. Jan. 14, 1909- 34 .. „ Jan. 19. 1910- 

The Bank Rate remains Ai per cent., in spin o 
market rate being over i per cent, lower. This si 
thing's cannot continue indefinitely. Thai it has been 
maintained ■ ik thin!:'- it advisable to 

keep a warn return shows 

.1 senl away to Egypt, It" 1 
Continent, and bul /_ 3 >.2,oo 1 ol m 

tian 1 xi ham the Continental demand 

not vel satisfied : the fni ' 



to in:. 

taxes sin v. lo be ■ 

s nol mm h 

Indeed, ihc vvithd 

the \ • >n I hursdxi) , is om 

ri tulcrs it mi 

Ihc Ka I 

1 ion in the amount is 

itl\ ^1,088,000, wl supplement! 

£a°3'° "' exporti d 

Othi ■ h-ich 

ined 1>\ a rise ol 
! £3,75 1,0 

little earliei ' ould 

■ en \ ery much great* 

• have 

been relatively small, s 
on the Funds, nmountii 
market to reduce its debt to the Rank to 
sda\ . 
The stork markets have bei mark time 

sini e thi ' speculative 

in\ estoi s e\ idi nth thi >ugh1 '1 

some 1 ation <.i what view the general pub 

investors would take <•! the situation before committing 
Ihemsi leral invest- 

ing publii ha\ 1 '' 
and so far have given 1 

lion. The orders • iming into brokers have 
on a s, ale which does nol betoken enthus 
and th »ugh man) report nui 

therer's hand 

IS to be seen in this; people eann <1 taxes with- 

trtailing the sums the\ would otherwise have avail- 
or invi stment. \m ther influem • n the 

genera] expansion ol trade, testified l>\ I 
■ ays and thi 

lunt ol 
ses, and is 
increased the returns they hav< 
ll does 
thai the general investing public is ii • take 

sanguine \ iews I Ion • and 

noun. 

I he 

- 

ose, Inn a 
Year led I 
rails ■ 

was a holidav. When the 

■ ' 

ed, bul II 

On V 

Mexicans also rose. The \ 
leading to higl 
Vank. 

influence ol pu 
irregularis chara 
mind 

Continued export o 
Henci 
which 



hopr 
profit? 






small -rale for 
into which these 









THE RAILWAY TIMES. 



[JANUARY J, I9I I. 



xd — 



■...1 



.t fitting opportunity, In the directors of some ol the com- 
panies, to balance the capital account, was discussed. \ 
10I11 oi the kind had been alleged and iln ised in respei ! 
ol the Brighton line earlier in the week, and the 1 amassing 
of tin- prospects respecting other lines was nol conducive 
to 1 onfidence, though in the case of the Great Western and 
others whose stocks are above par issues might be made at 
a price which would mean a handsome bonus to the share- 
holders cm the market price. On Friday the general 
tendency oi the markets was downward, but the movement 

did not amount to much as far as Home Rails were - 

cerned, and in these a firmer condition was noticeable 

the close ol business. Government stuck fell, 

foreign bonds were steady. There was little business in 

Americans, but Canadians and Mexicans were higher, 

while Trunks were offered. Among the forthcoming loans 

discussed were some Chili, to N'orwa' to South Australia, 

to Victoria, and the prospect ol an early Indian emission 

w as also men! loncd. 

The principal movements on the week are as follow :- 

X. meet St. .,k. Ri e. I all. 

British Funds. 

: ! per cent. — . . I 

Do. (ace . 

Barry Deferred .... 

Caledonian — . . — 

Con. 1 )rd. j . . - • 

Do. Di t. Con. ( Ird. — . . £ 

Central London .... — . . — 

1 . . — 

Cit\ and S. I ondon 1 ' 

— ■ ■ - 
— • . 
Greal E asti rn .... 

Pref.l on.l Ird. .'. 
Def. Con. ( Ird. 

n — 

I ;.: 1 1 iley 

: 1 'cm ' 

London I '.1 A S 
Do. i lefcrri d ....-- 
London 1 

. \ \\ < : 

Do. I' 
London, filbui 

! District 

Midland Def. 1 it 

!» , Def. ' Ird. . . 

\ 1 1 1 1 1 1 I 

ift'i 1 

Do. Deferred .... 
il. 

( .111. eh. ill 1 'ai 1 1 

Do. ( ]).c. Guaranteed 

Do. 1 -.< I ' 

Do. ;rd I', erem 

... 
id Ohio j 



Name oi Stock. Rise. Fall. 

Gt. Western 1 . . — 

i hit ago M>! & S Paul 1 \ . . 

1 inner A Rio Grande 

Do. Preferred .... 

Erie Common 

|ii' 1-1 Pi 1 ferem 1 
Do md Pn 
Illinois > 1 ntral .... 
ilie A. Nash\ ill, 
Missouri Kans.&Ti 
New York Central 
X.Y., Ont. & Western 
a Western . 
Do. Prefei red ... 

1 ''en us., h ,1111,1 

Reading Common 
s, ,ni hern I 'a< ifti 1 ran 
'ii 1 ommon . . 
Do. Pi. ferred 

I lie hi I '. 1 

Do. Preferred . 
Wabash 
.1 >o. I 'referred .... 



I ',S. Stei 1 Corp ' "in. 
■ Cum.Pret 

\ni"l,r.ei., Dei I Ird. ; 
Argentine I ,1 \\ 

G t S 1 1 1 1 , 1 . 

I! - "ivresWi tern 

Central \r gen t i n< . . 
Do, Deferred . .. 
Cent.l 1 iis!ua\ of Mont. — 

]"li,.,\ Ros.ist I'n I. 

loba Cent i st Pn ! 

Kica . ... 

( 11I..111 ( 1 nlinl 
I 1 ..)...!■ 1 1 11. 1 ... 

1 mi hern . . \ 
Mexican Ordinal'' 

I I". [St I'" 1 

Pre! . i.p 1 1 , 
\'n rate 1 irdinai ■ 

Du. 1 ., '1 rred 
1 ei imanfSmvrnn to Vidin 



G.N. Central Raihvav <> t Columbia.- I In nmipan) ;i unci 

|ul\ 1. I'll", "i tin issue "i .: !"•. 

1 ■■ bonds "I 1 io each, ibet ed 

i,| iff 1 I. HIU. 11 '• 

tin I ondon and South Western Hank. 'I In 
funds for the payment of Coupon No. 7, due Januan 1, 1911, 
1 
I lie Bquipment and Engineering Company inform us that cnwin ! 

in di v< niei 

: in n ntovi tin ir 1 ilTn 1 -■ and 

show-rooms from Northampton I'ark, (.'; bury, \. On and 

In 1 will be 

if,, 1 [oh wi II I in. , S 1 orrespondi nee 

v. ill In conducted from theii ('if oilier, to which all communi- 

luiuM be addn ■ '. , \\ ■ linghouse Buildings, 

\, 1 ti.ll. Mi. 1 t. Strand, \\ .1 



THE GREAT CANADIAN CANAL SCHtME. 

Mr. John Ferguson, Vice-President of the Association "1 
Canadian Boards of Trade and Muni< ipalities, and President of 
thi Board ol Trade ol North Bay, speaking at Ontario on 

in 4. ol the Georgian Ba\ (anal, which Sir Robert Perks 
has undertaken to build, said that the strongest endorsation 
that can be given to the wisdom ol the immediate construction 
,11 du- Georgian Ba\ Canal was to quote- what the Governor- 
General said at the Board ol I'rade at'< Htawa iast week. "The 
construction oi the Georgian Ba} 1 anal," said Earl Grey, "is 
a real problem fa.ing the citizens ol Ottawa, and I urgi mj 
hearers to keep their eyes on its fulfilment. 

At the same meeting, the Hon. G. I\ Graham, Minister of 
Railways and Canals ol Canada, said "You will have the 
Georgian Ba\ Canal without doubt. Ii onh, remains for the 
Parliament oi Canada to sa\ when these important works shall 

begin, to obtain the unanii 1- approval "I all Canada, from 

the coal and iron industries ol Nova Scotia to the wheat fields 

of Alberta. .1 ."c 100 is the estimated cost ol a twenty-two 

foot waterwa\ from the Great Lakes to the sea level, not 

,/."',",""". .1- previously stated. \- the Canadian Pacific 

Railwa\ served to weld the Dominion into a community of 

?ts, so tin Georgian K.i ■ 1 'anal will lend to bring Canada's 
interests into touch with those of the Mother Country and 
Europe. Ii will enable ocean liners to enter into the heart ol 
Canada, thus transferring the products of Canada to Europe, 
and the products ol Europe to the I 1 minion through Canadian 
ti 1 1 1. "i ■' ithi nit .1 break. 



BANK RETURN. 

The return of the Bank of England for the week ended 
Wednesday, Januan 4, compared with that of the previous 
week, shows the following changes : — 

Increase. Decrease 



.:,.%i 1. 
'.i,;i:iii 

l'.i,i::'.i 



Liabilities. 

154 Rest. . 

777 Public Deposits . 
180 Other do. 
04(5 7 Day Bills 

1)45 Govt. Securities , 



ill. Ill [i.e. Ratio 

1 p.c. Bank Rate . 
:;, p.o. Market Rate 



3.187,804 
11,707,527 

19,21 I2,!ll 14 



21,8159,815 

:, Hi p.o. 

lip.c. 



l:i7, S'.C. 

4,947,571 
1,942 



Increase. 

1, /.in 1, 1 «r 1 
H.T.iii.'.l-l 

84,950 



.V.l'j:,.ll'l 



[SSI B DEPARTMENT. 




Increase. 


Decrease. 


£ 1 i' 
32,791,210 ll'oiii and Bullion . 


I' 
31,048,445 
49, 198. 1 15 


f 
199,850 

r.m.sMi 


£ 


.Circulation 





Canadian Pacific Railway. Ii is announced from Montreal 

, lanuan is tin Canadian Pacif'x Railwax will taki 

over the control' ol the New Brunswick and Southern Railway, 

tt-hh ii 1- S4 miles long, an I -1 the St. Maurice Railway, with h 

has .. length "I seven miles. 

Railway Tickets b\ Pneumatic Tube. \n innovation in methodis 



tin the supph of railway tii I" ts n pi 



has 



just in en iicciilm 1 il in ih" "Hi,. - "i 1I1. Southi 1 11 Pa< ifi< Rail- 

111.nl .11 San Francisco. The principal objects •ought to hi 

gained are the avoidant* ol people waiting at tin 

the < it \ tii la 1 oflii 1 . ilo full utilisation "I the -< 1 \ ic< - < '• ' I' : ; - 

mi dull le. removing the liability "I interruption when n 

"in tickets, and tin diminution in the risk ol errors which are 

likeh to result from -uch interruptions. In this method an 

idanl issists tin intending passenger to select his route 

« itfi ih" aid "I .1 1 . 1 1 'j. map" I he attendant then make - n 
randum of tl nts and dospat< hi s it, with the 

1 urn 1, \ , b\ means ol a pneumati* tube, to a lowei room, w here 
clerks .a- engaged in filling in tin necessary indications to 
,,,.,11 ih, route and the conditions applying to the tick, 1 con- 
tract 1'hi decri ,i" d liability to errot in tickets made out undi , 
th,-si conditions ha-'-, the 1'inic.- states, rendered il possible to 
,,-,- ., singli small card instead of the number of coupons 
hitherto employed in .1 lickel fm ,1 transcontinental journey. 



I 7, 1QII. 



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■* S 2 S 3 = — £ — >r ;;— « = S " ' ~r 3 ~ J 

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~£^" = ? •= - = i ~ - ^ A ^ ~ 




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10 



THE RAILWAY TIMES. 



! January 7. [911. 



STEEL ROLLING STOCK FOR THE DISTRICT RAILWAY. 

Some time ago it was announced in these pages that the 

Metropolitan District Railwax wen obtaining some new cars 

-, , n v.,, ious : ts « ould l» noticed. 'I he first 

ered, and on Januai \ 3 .1 trial 

trip was urn 1 1 mil ih. Mansion House station to South Harrow, 

with .1 train . i>nsi>tini> ol ! v I the in w < ars. I he distinctive 

,i feature ol these cars is thai thi \ are almosl entireh ol 
: ,bi 5, no other railway except the 
Dl,,, -;, , has ve! introdue ed stee 1 cars, but tin re 1- little doubt 
thai 1: " " n '" tnis matter in the carl) 

future. In Vmerica, steel cars are alread) largely used, and 
.1 few vears ago the London Count) Council procured .1 number 




~ ! E?53? 




Steel Car on the District Railway 

.1 steel tramwav cars for use on routes passing through the 
Aldwych subwav. As tar .is manufacture is concerned, it has 
found in America that then is no difficulty in building 
, rt> thai are several times as strong as wooden cars, 
without unduh increasing the weight, while the maintenance 
. 1, ,, j. s, as would I, are said to be lower. 

I,, the steel ( ars oi the Distrie 1 Railwa) all the- work thn 

out is British, and in appearance, solidito and 1 omi'orl ol 

travelling the) are unquestionably successful. On the trial 

trip their running qualities wen put to a severe test, for on .1 

,n of the route .1 speed ol over v miles an hour was 

(> bi lined and so slight was the vibration that ven few ol the 

part) wen aware that anything like that speed had been 

reached until the\ were informed of it. In fact, in ea\\ ruling, 

,- as in the absence oi vibration and noise, the new cars 

improvement on the- present rolling stock ol the 




bevel glass in fireproof frames have been placed at the end of 
the seats b\ the centre doors. Similar glass screens have been 
place-el' at the end of the saloon to partition ofl the vestibule, 
which increases the impression ol the spaciousness .it the 
vehicles. The windows used are largei and the cars are a 
trifle widei rhese changes " plain 

v hire ce ilinsr, make the interior oi the 1 ars de< idedl) 



In length the cars 
,411. between the cen 
over the frames, with 



leasure 49 ft. ovei th 

of the bogie s. I hex are S 
height e.l 12ft. 4in. above tie 



In adsti ..'Us, and 

rr Sit. .Sin. wide 

il level- 





Interior of Steel Car. 

dimensions which could not he- exceeded owing to th.' tunnel 
gauges, rhe bodies are built with Ain. cambei upwards between 
the centres e>f the- bogies, and |in. downwards from tin- Ce ntn - 
of the bogies to the 'end oi the- frames. 

The motor cars are equipped with two j4.1-h.11. British 
rhomson-Houston motors, and are provided with Westinghouse 
quick-acting automatic brakes. The weight oi the motor-car 
in ;o tons to cwt., and of the trailer car 20 tons. Each cat 
has 20 electrie radiators, which will adequatel) warm the in- 
i,n..i in the coldest weather, while the lighting is provided by 
iwe ntv-five 20-candle.-power incandescent lamps. Special atten- 
tion lias been given i" the ventilation anil the prevention ul 
draughts. The new cars are upholstered in bin. moquette velvet 



r 1 -- 



IW^^dTh^^- 



■I—' 



Motor Truck 



Trailer Truck 



,,-,,, ,. ,,, ,,,,,,.,, nsr h,s l,.,n ma. I.- ..I the in the thiol-, lass non-smoking compartment, while- in the 

1 k; ' '"■'.>• "' ' ' ', l n, ,-;,,, ,,,l„. I sevices smoking c; val-blue leather is used. In the first-class cars 

«P«n<nce acqu red bj the -lltce s siir k - - i]mi . h( . hoIsten ,. m red. 

" . ' :; zir:.: ;:„.„;;:" „:;: v.;,' ,'.,:;,, Each „„„„„,.„- is ,,,„,, ,,„, „ ,„„„„- ,„«*.«,* .,- truck 



is fitted with a motor truck and trail truck 
hiih sjreath reduce the vibration to which 



md plan as the old rolling stock, hul changes have been mad. Each mot 

'* ' "^ *- th ^ "- b< 'ft u Afr, C son-and %£J!Zl on the District' cars have I n accustomed. Th 

K fireproof. exceedingly smooth wa\ in which the cars travel at an excer 



The bodii - have I". n built 



"'- •'.", .'""■" ''"'"/ h ,he L' and witXw frames given to the designing ol th. trucks which were built al the 

"" "-'""r ' ] T Uv " •'' , , ', i,n , iil'le .J Districl Railw;n shops a, Mill Hill. The motor trucks measure 

-""- '"- has , ' ,, ' , 1 V ,', ' ,, '„ 1 "t t, tins are lift. jin. over the end bars, and the width over the side frame 

.assengers will have the assurance that t.a.n j ^ | f ^ ^ 



re all-, fin proof. 

11 ' — " '''::?',,?„, ;7!i;''' , - m ^!i;.!ir, l '^.'k, 'but in 



,, ,. n s vided with ;6in. wheels. The trail trucks measure lift. 2jin. 



i same .a i a 



], i to prote i i passengers trom ui u 



lraughts, s, i 



i , ns ..I thick 2ft. 6in. in diameter. 



|am *• - 7, 1911. 



•III! RAH W VY TLMES. 




- • 




THE RAILWAY TIMES. 



[January 7. 1 91 1 . 




Plan and Elevations of Motor Truck of 

Steel Rolling Stock for the Metropolitan 

District Railway 



Tin compam haw aln-ach received t ', of the new cars, and Referring to the growth m the company's business, hi ,iJ 

11. on order, and will short'h I- delivered, h i- that last vear the compam carried 73 million passengers and 

intended also 1- ..It, > the present rolling stock as fast as the although the) effected an enormous saving in public money, 

, irs are sent in to the shops for overhauling All the improve- the\ wen taxed out ol all proportion, as the) pa) in rates one 

ound in the new cars will then be added until the whole shilling out of even pound received Such ■< charge was .1 

ol the stock ol the compam is brought into conformit\ with tin serious burden on an undertaking which madi no us< of the 

new design. roads and was largeh increasing the rateable value ol 

\i ., luncheon til Si Ermins Hotel, aftei tin return from the authorities b\ improving the travelling facilities in the London 

trial nip. Mr. |. ( I thi abs-em e ol the liistrii 1. 

managing director, Mr. 11. II. Stanlev, said that within two Unong thosi who took pari in tin trial run wen Mr. J. 

mpam would have rnant ol tin steel cars in use Carter, secret arv , Mr. \\ I'.. Blake, superintendent -I tin 





r^? 























Plan and Elevations of Trailer Truck. 



J \M" VJO . ~. [9H.] 



THE RAILWAY TIMES. 



1 5 



■■ 1 1 . \ R . < 

Mr. W. A. 1 : . \\ . 

Mr. J. W. J 
u I Mr. l'i ink Pick, uiji' ''■ 

TRAFFIC REQUIREMENTS IN TORONTO. 

The Municipal Corporation o| the 1 ' inada, 

the question "I the best means 
ing to local transil facilities. Last Ma) thi 
the eminent firm Messrs. ! 

Incorporated, New York >ject. Messrs. 

the construction ol the Pennsylvania Railroad tunnels under 
the Hudson River into the heart ol v York. Mr. Jacobs is 
an Englishman, and the report cm To 

James Eorgie, .1 directoi "I the firm, ;md a Scotchman, 
who \\a- chiel assistant engineer on the Hudson 1 
and who prior to thai was associated with the late J. II- 1 

1 
ube railway s in London. I hi insli in 
I I to Messi s. I 

Davies n ere to tl 

on thi 1 traffic 

in Toronto, having in mind the presi nt street railwa) 
and the city's rights to construct tubes in the central part'- and 
surface lines in the outlying districts, on tin nancial 

r. -Li 1 1 -. and on thi 

surface railways. Mr. Eorgie's report, which was pr< 
during ll imiii, i- ;i i 

maps and draw ing ore than 

local interest; in reference to these we append . 

At present the Toronto R I irks 114 miles 

of street track of 4U. nin. gauge, witl 
are motor car;, and the remainder trailers. The nun 
revenui v . 1 1 7. 001 . 

numbei s issued was 38,151, 596. Die fares at 

favourable to c. Eight tickets can be bouj 

25 cents for use betweei 1 ind 5 and 6.30 p.m. 

ei times six tickets ma) be bough ; tickets 

On Sundays seven tickets an sold foi 25 cents. The 
1 and York Radial Railwa) Company, controlled b) thi 
Toronto Rail ' m. carried in 191 >aying 

gers, and worked 72 miles ol single track with ji 
Another line, outside the city limits, called the Toronto Suburban 
Railw a) . cat 1 - . pa) ing passi ngi rs in 191 

nf single track witl 

The situatii 1 ol Chicago, 

1, and man) other cities, in that ii lies on the waterfront 
of a lai 1 all expansion musl take place 

either along the she iwa\ from the water in northerlv 

radiations from the business centre. I'lien can bi littli 1 
that the traffic will grow fast, and that in a cit\ such as Toronto. 
where the beautiful is carefull) looked after, unseemly con- 
gestion in the streets ma) be avoided even with profit financially 
by the adoption of subways. The onh e< 
at present is chief!) 

Street. Congestion will, ol coursi id it will be 

admitted that the fewer railways on the - 11 streets 

the more presentable the citj . 

In n s 
supply of cars, the 1 

suggest 
any improvi 

ment. 
1 - 
permit 

[all. O 

city, but for 

,275, 1 qual to 
increase !>• ; annum. 

The di 

in Manhattan, New York 
don. The 1 
I 



I 

I 

- 

[ > 

Glasgow, 1 

i 

nay make 

small size, while in a mu 

I 

■ system. London 

P 
was ibou ; 

annum was ab nit .'4 ; thi 

I 
travel lines 

1 

i 

linion thai il 
;i subwa) system ol this kind withii 

ivicled with 

1 

I 

-lock, car \ 
details 

surpl 
track? 






THE RAILWAY TIMES. 



[JANUARY 7. I g I I - 
.u in be submitted to Parli 

';,;■; : .. .:: ■;.':'■, :,,.:"■, ;:r:; ;": :S ™«fc nfia >-.,■ m,,,,,,, ,,..,,, 

h , I omn I, I (transfer to Great Western I .any); Seaforth and Sefton 

i ; uth route ..nlv. with considora- junction Railwa> (extension ol time, etc.) ; and Sl.go and Angna 

..„,„■ held over, pending decision as Railway (abandonment). The following notes give addit.onal 

t,> ihe diagonal thorouuhfares, 1'he entire sub\va\ -\ stem, il information: 

.petition with 'the -.. Wkxandra (Xewpori nnSnMHhn, i» ,nd Rail 

, -' , ... .,.„ ,. ...jthi,, |„. r -, u limits „i.l those WAV.— The capital 10 be raised will be by preierenci stock, to 

„,,li,;' ■ ,' 1 served be called the N, ■ S 1 - Railwa) stock. - 

:.,.,lii-i . Tui-nii'-- b\ the vear 1021. The\ n ' ndend. ... 

,s be favimrabh considered the citv's credii 1"' Barm Railway. Mosl ol ih. new lines are deviation rail- 

,nl, for ,!,,„- construction; thai the equipmenl ways in place ol authorised hn, obi abandoned 

lU ,. id , ,.„.,,, ,am L.nde, Centra! London Railway. 1 he extension proposed is from 

/,',,,' nd hat th ' beavih Shepherd's Bush to a juncti .vith the Great Western's Ham- 

i, prospects of paving a good return. All mersmith line, and t..\\ . line o haling, 

\Cu msit I il i'lit" - should h, worked bv one 1 mm under il granted as sought, will have an important effect on the ( , ntraj 

,.,,-...; ., ,, . ,< , •, . || . ;|.,. recommended th it the 1 it\ should London. 

[■„,,, U o Raihv.-n 1 ompam an extension 1 ,, Northf.r Ra.lw k y. In addition to the estimated 

I . „,,;, 1, ;, should h provided thai th. cost giv, n in the tnbl. , then is an estimate ol £,82,332 for new 

',!. „ , 11 ion.1 surf, , raihv!,vsal Knebworth, th, length ol which is included in the 

."' '-;,:'' 11 , mil ag, stated. fhese, however, are to be in place of authorised 

' '"'-•, , M , ;, r ' ■ in he ib Un 1 b • proposed to b, abandoned, the estimated I ol which 

;■ ,' nn ,11 existing ,vas th, sa, I ilwavs proposed by the Bill an 

I eo-ordin „ nprehi nsiv, situated in different parts of the country, and som, ol them an 

V ,.'. i:im . , ting lines. Some ol those are to be made in 

houUI b, conjunction with the Midland Company, and others with th" 



would • pi rati' tl 

, ,,; assisting Ihejm 
h\ assessim nt levied on prop, rt 



,,1 tin wi il. 1 ireal 1 entral ( nmpam I he total estimate im hid' - 
[i-,1 nous minor sums for widening bridges, new roads, etc. Extensive 

d an sought. 



that the municipals should app. nl powers tor acquiring land an sougtit. 

„ K „it B I of Transit to safeguard Great Western Railway.- 1 h. proposed lines an mosth 

levelopmenl 



R\ILWAK BILLS IN 1911 



lwavs in W 

Greater London R\ii.wav.- This is th. important scheme for 

providing a linking-up railwa\ round London north ol the 

M, anus. Ph. line is divided into 42 separate sections in the 

i:,|i 1 |n 1 nginei rs an Mi ssrs. Edward Wilson and Son, and 

th, 1 onsulting eiigin. ei is Mr. Win. T. Eoxlee. The 

promoters, who d ii ' ith others, to be incorporated 

il„. session ol mi 1, so 1 iv, are H. Mallrdn -Deelev, the Ri-J I : P. J- 

from th, Parliameiitarv Stanhope, Baron Weardale. Colonel Sir I). 1 I, Dawson, the 



In th, R mi \\ w I imi-'s ol Novemb, 1 in and :<> and !)<■< el 

\m re publish, . ries ol th, main ol s ol the r; 

1 I- pi I n> I'arliam, nl 

\ " ;'':.', j ;;hav, 

lb ises ol Parli; it, and we a 

ol ih' pr, | -als which ire c 
11. ntion in pai 

ol the propos i deal ol inlorm; ^vill si 

be found in the a, 1 n 
11 lie- in'ii 
lii 
ii ,|, s ho\\ .1 lol. 1 iblyheallhx stal 

raishig of slated 'amounts of capital London, Brp.iito inp S Coas'i Railway.— The esti 

ddilion to il., 111, He following m, isun - mat, i- foi ,1 subwav at Norw I |un, lion and foi two 



o giv, , ~li.ii - w hi, h ma\ I" di\ ided into pi ef, rred and 

defei i ,7l hall shar, -. \- in l'ln 1 as. ol sevei al other railway 
, ih, Bills, powi 1 o is. Li, share warrants and d, 

1 erlili, .in - to bearer. I"h, vai ems 1 ailw a_\ 1 onijianies 
1 i,,. |„, M , .,, ,1 ull\ , it ot London will be cross-connected by 

,„• itsell ih, proposed railwa, are 1 mpowi red to -lib 1 1 ibe to tin - 

,,,osed l>\ each Bill, the cost, and ,,| the eompnn\ to the extent ol -£ :; 

Livi-.ri'ooi Overhead Rail w \y .—This Bill is mainh con- 
limes. All tin Bill cern, ,1 with 1 ipil il n an ing. m, m- 






i 





1 






ill 


' 




n 


































l<, 
























[\m 





'I. 1 il. ( Ml 

1 



' I ; 



1 



I 

13 -"' 7.90 542 10.373.000 3. 677. 666 



1 ,, 




1 




1 1 


,, ,,, 
























1 








1 






1 












J VNUAR-5 7. I9U.] 



■'Ml R \11.w \y TIM] s. 






The new capital pov 

1 ompan} . bui no doubt 1 lecti ifu 
pari oi it. 

Coasi Railw.u (h 
\i sm [v. I'here is no 1 xpense, such nol 

rei|uired b\ Parliament in 1 1 1 i — prelii 
purpose as providing steamers. 

London Electrii Railway, i new capital 

is i,, be issin d .1- 1 per cent, pn 
ine will be in the form ol 4 per cent, debenture stock, both 

Power i- asked to issue slock warrants and debenture stock 
certificates to bea 

London ind Soith Western Railway. 1 
borrowed will take the 
and is for the purchasi the Budleigh- 

■ .11 Railwa\ Company, and ii will be issued to 
prietors ol the Budleigh Company. The 

estimal i- mainly for a new stn i 

tions 'I lor land in connection with the pri 

enlargement of Waterloo Station. No estimate i- inclui 
the cost of the u L.ine the station itself. 

London, I 11 i;i k\ vsd Southend Railway. As thi 
purpose of the Hill i- to give fin 

company's railway, ii is in he presumed il he new 

carrying out thai work. Power 
- 

Manchester \nh Milford Railwai I nsfer ol this 

I the Milford Company arc 10 be exchang 
debenture stock "I the G , cent., 

!-| ; M 

exchanged lor ^460 and ^150, i£ 

Milford debentures an- to be 
cent. Greal Western debenture stocl 1 
be increased as maj be required for the pui 
Mi rROPOi 1 1 w Disi rk i R mi \\ vi 

f much ii 1 

] I - 1 I k ■ '■ . ' 

take ovi 1 
i I 1 

i i 1 

'. i and Lond I R lilw ays Powei I louse 

Ji lint Committee, and the Comm 
body. It will consis I > ■ 

and three of the London Electric Railway Company, and there 

will b' \ 

, the ;\\ o com 
. ; 1 1 — in common in 
equal shares. Half 
When the power station is pun 

I 1 I the Underground 1 

the p: 

partly in each. I "h 

equal to the divid< he same half-year 

g '--lied, and all 

payments and expenses lor the half-year for whii 
Commi 1! I 

h of the railway companies II 

*.l 1 ilitan Districl and London I 
Railways joint power-house rent-charge stock to such an 
amount as mav be rei 

1 . have a fixed 

. 

he two 
I 
I 

it until the 

' ' . 1 

London Electric Railway Company, thi I 

I London, and the trus 

holders and delx ilders of the ' I 1 

1 1 1 

exercise all the po\< ' nderground Company to supply 

electric energ) for working the railways of the two companies 
and other railwavs and tramways, and may supph electrical 
energy in bulk to any authorised undertakers. 

Metropolitan Railway. \uthorit> is asked to issue stock 
warrants and deben fun stock certificates to bearer. II" 
mate in the table includes ;£T66,3i7 '°r widening the railwa\ 
tor a distance of six chains in Finsbury, with a new station 
ai Mount Pleasant. So additional line of rail- is to I" laid. 
The remaindi r of the esl 
at Eds R d Station. 



1'his i 
in thi 1 

■ 

'. 
new roads and w idenings ol brid 
N'< a< 1 11 Y' 'KKSllll 

named in the Kill are W. R. Burrill-Robinson, \\ 
Powletl, E. II. Hall, II. C. E. Wall 
John Simpsi 

Peni I WYN R Ml V 

road-. 

kin mm s Rail w.i 
and deviatii 

! : ii \ iv. Hi 

compai ' Rail- 

1 1 ini|iaii\ , ii sin iuld I"' leasei 
1 11 i e s . 

G.N. EMPLOYEES AND LORD MACDONNELL. 

Mi . W. E. I 'raw lord, chaii m 

1 ird of the Greal Northern Railway. 

in an interview 1 

arising lion Award, -aid : 

1 lacD I '- replies di 1 1 r with 

the evidence submitted at the arbitration or with the spirit of 
his award as understood liv us. I can only account for his 
failure to continue that spirit in the application - 
through his inability to appreciate the peculiar techi ii 

\- a matti - 1 dinary 

sa\ ing, ' You are as you - 
! 

now than ii was I i didly, I do nol know what he 

1 1 appears to mi to bi 1 idii ul ius in thi • 
" Lord MacDonnell was told at the arbitration proci 
thai there was no such thing a- a regular meal time, and that 
the men took their food jusl as opportunit; 
not disputed, and the men everywhere throughout the - 
were anxious that this should continue, and that they should 
have a unified working daw taking thi when 

and how the\ could - mpnnv 

have booked the mi nd deducted the tin 

the 60 hour-' week. Lord MacDonnell upheld the company in 
thai practice." Dealing with the question ol special ill 

ssenger guards for double trips, Mr. Crawford -aid the 
guards on the through expresses between London and Br; 

formerly paid one shilling per day above their ordinary- 
wages, and in the arbitratioi 
milled ihi- as evidence to be considered in the total 

irds. When the ai 
the company withdrew this spi 

d MacDonnell' 
this was outside the arbitration proceedings, and Mr. Cr; 

bed this as " rather plaj ing tin 
it had been allowed a- evidi 
Mr. < 'raw lord described I 
other point- as extraordinary. 

rivcw, Mr. G. .1. \Y. rdle, Ml' 
interi ■ 
ways as difficult 

I - 
award meant thai 

two h 

> 

pany can work a man 51 

new da\ starts alter every nini I 
nine hour-' interval, the 






RAILWAY TIMES. 



I ' 



VNUARY 



[9] ' . 



SIR JAMES INCUS. 

\ the I hides 

; l he new knights the name oi Sir. James Charles 

1 . ! Iwny Company. Horn in Ab 

(1 iar School of tha city, he 

nal oral si it nee and ma then I le 

■ 

d, leaving the university in 1X70, he was able al once to 
■ 1 ' 

the construction ol heav\ 
ial plant. I Hiring the 11 - Mr. I ng I 

Mr. J. A lea Om .. 

1 i ion oi the Alexandi .1 1 )oi ks at New - 
i rt-ti from 1X72 to 1875, \vh 

[)i I: 

R Iway. He was employed H P 

n 11 l< - mil I he qu i\ til M 




Sir James C. Inglis 

and, subsequently, on the heav\ doublings and 

lil ways already n; d < ' 

South Devon lines in [878 b\ tin Great Western, 
Mr. Inglis passed owi to tin stall ol thai s\ stem, but 

1 civil eng 
Plvmouth. !!• he Id various publii posts, and 1 arried out 
works ( >f the most varied k nd, in< luding Mou it Ball 

p N'ewl; Harb an i om I his works, and 

,,.,.,,, follow, .1 b; I orqua'x I larbour, with his old lulot as 

e offer of tin 

1 tin 1 ,.\\ R. at P idd 1 

I . Ii.,,1 c an ied e (in a! \\ 

p, ', Railw a\ . Bodmin bran 

S . 11 
I 1 : ' Ivybridge and hi id, Marli v 
[ n Oetob 
lin. nl err. S ; hi w 1- 



11 Hon 

■ 



Ureal \ 

I 

iclusive 
S V ans 


















tifti 1 the collapse 1 It runnel of the G.W.R. ii 

and ii was during his chiel engineership that the new raihva\ 

903. Tin . I- ishguard I larbour, oi w hit h 

he was ight Mr. Inglis into still 

pality. 
1 )n the death ol Sir Joseph Wilkinson, in 1903, Mr. Inglis was 
■in his admi 1 
marked by a vigorous forward policy, the wisdom oi which will 
be ini re isingh n gnised as 
lulh devi 

Mr. I nglis 1 - "in ,idi 1 ailw i\ c 

1 5 Federated <M 

iasi . ! 'I ar;j mtf P;i ir D ks, Sing 1 

He 1 pn -idi .11 ol the I i| ( :'ivil 

i . , a member of the Royal Ci mmis- 

1 I lieuti 

in the Rriilwav Stall Ci rps, and h is hi en honoured with the 

D I tin insigni 

of the Third ( O Red Eagle. 

THE LIGHTING OF RAILWAY CARRIAGES. 

.1 the daih 

as .1 - i 

ii has 
lilway 

. .III" iras 

I.OXIM 

- 1 , I, 1 - . ■ I Jr. 1 

nt and builuii 

. is. 
sti . I: is being fitted with 
. ■ n ■' metallii (ilann nt lamps, whii h 
1 urrent usi d b_\ the 1 irigina 1 carb' n 

. . 

(iKtvr Wkstei 1 

I hi bulls - t thf in w sti 11 ' 
1 - ia- \ 1 I 1 ■■ 1 1 n ■.. I ' pt the 1 at in 

■ome of the Xorthei 
lectric light. 
Soith ' ."in mii wi iX! - Do' i' 'i -All electrii I ight. 

n heard about this 1 1st, but 

itage, that it was ne of tl 
md was .1 pii neer in tin 

l.uxnox vxd SntTil Westerx Man; trains have the electric 
light, but during the last tew year? incandescent lighting has 

1 i few trail the ma in lim 

, Ii 1 ti 11 light, but ill" bulk "I the lighting 1- . 

Midi >. portion fitted with 

escent light I foi the most 

..nt iupr< mi in tin ars 

l"n.w ry and SorTW Oi ol the | irs of 1 

tin bull 1 the 1 1 I being so fitti d 
I.axcasiiirf vxd Yorkshire.— A few trains 
I ight, but in the bull t] ■ 1 i rn andesi 1 nt gas 
\ "i: 1 i, Staffordshire All electrii light. 
I 1 1.". 1 ss All electrii light 

1 u.EDoxiAN I lectrii light 1 now being introduced gradually; 
inn there an man} trains -till lighted b) _- 

Glasgow vxd Soith Western. — All gas with the excepti 1 

.1 1, « dining 1 ars 

North Dritish -('.as foi the great part, but the electrii light 
1 being introdm ed gradually . 
Eliciii vxd All gas or oil'. 
(iKEVI N'oRTH OF SCOTLAND.— Well known 111 r.iilw.u 'I" 

iln best worked lim -. althougl e of the smallest, has 

had :ii lock fitted with elei n ii light for 

past 
Am Tint Railways, ixvli'dixg thf Metropolitan vnd Distrh 

Vll ■ I" ii • light 

I I,, ..mi. nun nal < st'tmates that thi cost ol the equipment for 
light :; tricity a railwax 1 irriagi with eighl 1 ompart- 

inenl si 1 .'<'■•■ ' £40 more I han in the case ol gas. 
I hi .rn 11 ,1 1 1st "i ma nten in e and lighting 1 i< h carriage 

dl\ i~ from X- s '" -6 ln ' ' - 1 for -■'- ! ' 

11 urntely ow ing to \ an ing factot s. 

I'lie Kailwin Congress, lln "Bulletin "I the International 
R ;i :|, I 1. 1 mlier contains a report ol 1I1 

|,,K I 1st, the names ol members 



,,,,! „ u pi 1 mi. ml- el tin work ol construction 



January ~. mi i . 



Till R \M.\\ \Y TIM] S. 



■7 



MEETINGS AND REPORTS. 

FORTHCOMING MEETINGS. 
Jan. i : London and Greenwich Railway 

\\ in. ii ii at i. 

Jan. i ; North and Southwestern Junction Railway (Half- 

Jan, i South Behar Railway 

. .1. -Metropolitan Railway of Constantinople I 

ordinary), 25, Bucklersbury, E.C., at 12. 

London. Brighton and South Coast Railway 

Feb. London and Blackwall Railway I 

■' nil oilier Hems of / I 

SOUTH BEHAR RAILWAY. 
The half-; i 3 the m N month; 

paying thi 
the rate ol 5 per cent, per annum for the hall 

Lined in hand of , ; 
wfiich, with 

less inti 

An interim di\ idend at lln 

paid on July ml. Adding 

to thi^ D 

and 1 I 

with. The d commend that a dividend al the rate 

stock- 
holders on the 1 > I his will 
the sum of 
to the 

DIVIDEND ANNOUNCEMENTS. 

. R \\\ v. \\ I .S.A. . A quai ■■ 

rai H viii x R mi « \\ Tri st. I he dii - 
a dividend al cent, per aim . 

;i last. 
London Cm vxn \ln>i wi> U.vnk, 1 1 

that ; I 

and 1 nt. per 

aniuin iating ^131,157 to writing 

down 

n fund, an ' 

for tli 

with £ 

fund, and x ' "''• 



FERSONAL. 



Vn Important Pig-Iron Discover)', One of the leadinj 
furnace firms in South Staffordshire is rep ive dis- 

! refined higl 
pig-iron of .1 description which has never before been m;i 
lund in this lid has had 

of ^Jio per ton from tl S The 

-ilt ol prolonged experiments, 
to havi far-reaching The- new 

smelted in a cupola, and subjected to - 

ment in a refining furnace. The product will !»■ used as a 
foundry mixture and also 1>\ steelmakers. 

Argentine Exhibition Wards. British exhibitors 

R 
Tran-i' 
i? dipl 

1 . 
honour, 41 gold medals, and 1- 
prix, 35 dipl 
medals 

1 



Mr. R. W. Hi. mi 

Mr. \. II. 
- 
Mr. Robert Turnbull, 
Sorth Western Railwa' 

< 
Messrs lames 1 rasei anil -<..n- 

1 
^ Detective-Inspector Wokes, 1 kshire 

month, nli the comp; 

M. ■> \l Gregory, 

Mr. W. H. It. Moorhead, .1.1'.. 

a din 
t<> hll thi 

Mi. W. H. Lindlej M.I.C.l .. who is given a i. 
the New 1 eai '- lisl ol Honours, iv:i 

ind Waterway s. M 
also ;i 

Sii Mexandei Binnie and Mr. William Binnii 
St. Pi 

- 
Mr. .1. W. Laurance, 

1 ' 1 , i 

agenl 
railway career in 181 5. Mr. \\ 

Honours for Colonial Railwaymen. Vmoi 

I lonours wi re 1. 1, . Wm. M 

Mi. Donald Man 

' 1 1 

a former chairman of the Victoriai 
nissii met s. 
Mr. I.I indley, 

Mr. R. S. Putts. 

S 

r 

1872. 

Mr. George Wain. 

'. 
pasl twelve 

railw n\ men I ' 

Cantain B. I. rrench, 

i ! ' 

l: 

I ) s 1 1 

Mr. H. Mano 1 
Yorkshire Railway 1 

tendenl al Wyre Docks, Mr. T. 

Melli 11 

railwa 

Mr. I >. 
Manchi 

G.W.R. Ippointmenis. 1 1 

n 

W. T. 

Mr. 

- 



18 THE RAILWAY TIMES 

GENERAL NEWS. 



[January 7, 191 1. 



CHICAGO AND ELECTRIFICATION. 

The Chicago Cit\ Council have taken no action on .1 pro- 
introdui ed to t ompel all -.team railways to electrify thi ii 
lines throughout .1 seven ni.tr radius from the city by January 
1, 1013, I. in in accordance with a request by a committee "1 the 
1 icr of Commerce the mayor has appointed four members 

onsider with that committee the question ol 
the '■!'•■ u ifi< at ion ol the rail\va\ termini. 



NEW CANADIAN ROLLING STOCK. 

service 1 >\ er thi 793 miles between Winnipeg 
and Edmonton, on the Grand trunk Pacini Railway, 
inaugurated in July last, showing an acceleration ol over six 
tin two proviin ial ;ipitals, has pri ved so p pulai 
that the provision ul furthei rolling stock has become necessary. 
Recently three dining - cars, built b\ thi Canada < at ( ompany, 
and which an i I the lati st and most luxurious tvpe, havi be< r 
delivered to the railwav. These cars have an external length 
ol ,>_• fei t. "I In platforms are ol stei 1 and tin v< stibuli s of the 
Pullman type. They are mounted on standard six-wheel 
trucks, are equipped with quick action Westinghouse brakes, 
steam heated and electricalh lighted. ["he dining-room is 
32 ft. i ; in. in length, providing seating accommodation for 
;o people. The remainder ol the internal space is occupied by 
Ji. n, pantry, refrigerators, etc. Thi decorative scheme 
is in plain and figured mahogany with a pleasant harmony >■ 
colours. The floors are thickly carpeted, the colout and pattern 
conforming to the general scheme of iln interi ir. 



LONDON AND NORTH WESTERN RAILWAY CHAIRMANSHIP. 

It is announced, though vvi are informed that the report is 

■ pi L'senl quiti unofni ial, that f.ord Stalbridge is to 

retire from thi chairmanship ol the London and North Western 

Railway Company as from the middle ol February next, when 

tin half-yearly meeting is held, and that his successor is to bi 

Mr. G. II. Claughton, one ol the directors ol the companv. 

Lord Stalbridge, who succeeded Sir Richard Moon as chairman 

■11 . will be risked to n tain .1 si at on the board. Mr. 

Hon is a son of Dr. 1" L. Claughton, formi rl\ Bishop 

of St. Albans. Manager for mam vcars of the estates ol thi 

I I ol Dudli y, he bee; ., director of the London and North 

Western in 1905, and was elected deput\ chairman in Februan 
lasl vear. He rcsidi s al I he Priorv, Dudlev, is .1 [ustici o'f 
tin Pi .11 ■ , and a <lii 1 tor ol the North British and Men antili 
Insurance Companv, Birmingham Canal Navigation, the Smith 
Staffoi Ishire Mond Gas (Power and Heating) Companv, the 
South Staffordshire Waterworks Companv, and tin 1 nited 
Counties Bank, ol whii h lasl he i- di puty chairman. In his 
M: 1 nighton w ''in 1 In ough .ill departments of .1 

practical knowledge ..I railway locomotives and the working o1 
rnilwavs. He was also one "I the pioneers ol tin 

\\ I Colliery scheme, which, when completed, 

will In- .mi ol the largest collien enterprises in the world 



NORTH EASTERN EMPLOYEES AGITATION. 

PkOTOSKI) STRIK1 \i.M\s| Non L'xioxists. 

\t tin instanci tin Ni wi istli Distrii 1 Cmn.il of the 

ol Railway Servants .1 resolution is being 
submitted to meetings in the various centres ol the North 
Eastern Railway urging the members, to decline to work with 
>i -is. I his r< -si .liit i 1 mi has been adopted at .1 mei ting 
ol tin North East, . 11 Federation ol I listrii 1 ( 'oum ils. It i- in 
the following terms: " I'hal realising the necessity for the 
unity ol the workers, in onl 1 out interests and int- 

uit 11 mdil ion, wi affirm oui I" lief that this can only bi 

'. plished by all worki tin niselves in a trade 

union, and realising thai non-unionists an participators in tin 

benefits ! il 1 1 11 .nli union a< ti\ it'n s, wi 1 .ill upon 

ised North Eastern nun to taki notii e on a date to be 
fixed thai they shall decline to work alongside non-unionists." 

'I hr pro] I -nil. will 1 equii 1 lln «ini lion ol the Exi cutiv 1 

Council of the Amalgamated Society ol Railway Servants. 

Passenger guards on the North Eastern Railway an objeel 
ing in light their trains, on the ground thai il 's| sibilities 



are nln.uh heavy enough. They have sent in .1 request for an 
interview with the passenger superintendent before proceeding 
further. 

Al .1 meeting "I the Small Heath (Birmingham) branch of 
tin Vmalgamated Society "I Railway Servants, the following 
n solution was passed : " Thai this meeting of the Small Heath 
branch of the Amalgamated Society ol Railway Servants con- 
demns the action "i thi Midland Railway Company in issuing 
notices ol a reduction in wages to goods guards in their employ, 
iluis violating the agreement with that grade, seeing that 1 
general holiday cannot be termed .1 slackness in trade. We 
protest mure especially against the reduction in the case ol 
guards who have been in the service forty years and mure, an 
injustice which has been doni in Birmingham.' 



GREAT EASTERN RAILWAY. 

Pri sextatiox ro Mr. R. P. Eli is. 

A dinner was given at tin Greal Eastern Hotel, Liverpool 
Street, on Decembei (0, to Mr. R. P. Ellis. M.V.O., the retir- 
ing Superintendenl of the 1 by the officers of the company, 
Mr. W. II. Hyde, the General Manager, being in the chair. 
Besides the present officers, Mr. J. E. S. Gooday, the late 
General Manager; and Mr. Walter Gardner, the 'late Goods 
Manager, were there to do honour to their old colleague. 

\lier the toast of the King, the General Manager read 
letters ol regret from Mr. E. Moore, the solicitor, and others 
w hi , wen unable to be p esent. 

Mr. Hyde then referred to Mr. Ellis's long service, and the 
large number ol Royal journeys he had made as Superinten- 
di ni \- regt nls the present occasion he expressed the opinion 
that Mi. Ellis was to be congratulated on joining a band of 
ex-Greal Eastern Officers who appeared to be daily improving 
ni health, evidently finding, in the leisure of their retirement, 
the opportunity ol obtaining that relaxation to which all present 
officers were looking forward. Like many others, Mr. Ellis 
might find a pleasant pastime in goll ; but instead of counting 
in. number of strokes, force of habit would perhaps compel 
him to adopt a time schedule. He asked Mr Ellis to accept 
from his old colleagues a diamond and amethyst brooch 
pendanl for Mrs. Ellis ; a gold and platinum watch bracelel 
for Miss Ellis; a silver rose bowl, four silver flower vases, 



sket, 
folio 



In 



ndlesticks, ; 
salver, and 



silver caki basket, a silver fruit 
anteen ol cutlery , w ith an address 



li:,|.,,l 



turning thanks, Mr. Ellis made some interesting com- 
parisons between the early days of his career and the present 
time, and expressed his appreciation ol the action ol the 
Directors recently in advancing the wages ol the clerical staff, 
lie would never forget the kindly feeling and good con 
ship which had always prevailed among the officers; and 
wished them all even success in their work 

The health of the Chairman (Mr. W. 11. Hyd< was proposed 
b\ Mr. GocxL-n in felicitous terms, and in responding Mr. 
Hyde well. .m.il Mr. Rami. ill as Superintendenl ol the Line. 



Lord Collins, fornn rly .1 I ,ord of Appeal and .1 judicial member 
ul the Railwa\ and Canal Commission, died on Wednesday 
last. 

Mr. George Padley, Scarborough, who died lasl Monda\ at 

■■■ ,,1 85, was chairman ..I the Yorkshire Railwav Wagon 
1 ompan\ . \\ aki field. 

The Hon. Sir (iuoiKt \. Drummond, K.C.M.G., president ol the 

Bank ol Montreal, a dire< I the Canadian Pacific Railway 

Company, and a Senatoi ol Canada, who died on February 2, 
last year, left , state in the I nited Kingdom el the gross valui 
.\ 1 ^s 
New Departure by the 1'. and <>. I he P. and O. Companv will 
in future devote the steamers .1 their branch service to the 
conveyance "I one class ol passengers only to Australia, via 
the Cape, al low fares ranging from .C" 1 to .£25. For '.his 
pui 1 < tin presi 111 llei 1 is being remodelled, and the two 

11, -ton steamers, tie " Bendigo " and " Ballarat," now 

in . iur.se -I construction, will If arranged on similar liars. 

111. vessels will bi quit' exceptional in providing accommoda- 
tion on upnei deck amidships at tin abovi fares, and there is 
no doubl that this advantage, coupled with the populai "one- 
class" principle, will find nun li favour, hull particulars will 
be supplied b\ tie manager, , .. id 5, Easl India Avenue, E.C. 



January 7, 1911.] THI [RAILWAY TIM] - 

" TANTALUM " STATION LIGHTING. 



ig 



RAILWAY NOTES. 



Metal fila ' rhauling the less efficient 

... being used in main situations which 

the most sanguine ol electrii not consider 

|i .11 the time ol their introduction. Then 
,l l4 , t ,i. 1 iluni lamp has been 

, this result, as tl ■ 
ol the filament has been demonstrated where 

4 \u. in. \ ibration m '"- 

1 . columns we 




revioush mentioned thai Tantalum lamp-. 

ird ship, tube railways, and factories, in 
ordinary house and public lighting install; I i latest 

- Tantalum lamps for station fig 
and we reproduce here an unt. iu 

1 ntalum lamps have recenl I 
install - the ordinary carbon filamenl limps, and 

the im i ion ol the lighting is frequently remarked 

Hers who use the lim in question. \s a 
matter of fact, the contrast is so marked as to mak< 
in which carbon filament lamps arc -till employed look quite 
dismal. It is interesting to note thai othi .ill be 

similarly improved upon in the near future, and ii will be 

lly agreed thai this much needed reform is a step in the 
riirht direction. 



THE GREAT WESTERN RAILWAY MAGAZINE. 



Xhe - r Januai twenty-third 

volume, and i- one of the most interesting thai has emanated 
1 ng the illustrations 

i s a 1 if-arms 

adopted bj the company , and i illing 

stock 1 11 main locomotivi 

I ,ondon and I ! 
There is a pictorial 
ally printed, are given. ol Mr. [. Morris, .-. 

from the p ■ line, and .if 

Mr. Charles Aldington, his sue. 

the "Pol - 1 tin- " Saint Martin," the latter 

in connection with an 
and illustrati with the Swindon work-, which 

established in 1S40. Im| 

Fowe) . C01 n» ill, I 

G.W.R I china, cla\ 

and -1 from wheno 

tries and to the United v 
the compain obtained powers for the extension of the 
g line and the construction ol a new rail'. 
o further means of transit. The company, r. 

■ mtinuously loading the vessels. \ • omplete 
installation inished in the 

yard, bj which train- of wagons arc hauled close to tl 
uired, the single wagons being then di 
to the various tips 
deal with thi and it- tun. 

signal departments, the presentation of ■ 

lling and station accounts ambulance classes 

and the athletic chili. 



London Railway* Mhletlt Association, \ New 

s>\ this assoi 

Epsom I >ov. 1 

ol the n.ce. -in ol inserting nut in dating 

Serloua Accident In s.nitii Africa R 

• 
lay-makers. 
a cmbankmi 
Wages hi America. III. ,;., |n v,.,^,. o| railw 
from which - 

11 as a tendency i- quite 

ill North Alllel: 

mi n empl, yed on the i 
1 
Hritii.li Columbia I lei trii Railw 15 

R dlway 
. 1 from 

the \\ ■ 1 da Power 1 

11 lumbia 
1 ii Railway Company will show thai thi- undcrtakit 

Application lor a Governmenl Grant. 1 

applied for particular- in reference to the sing of 

Port Augusl ; - R 
British Railway Company not having statutory power to 
the lii ■ w hich 

in working. 
entatives of the distrii 1 nment 

"rant. 

Engine Drivers' Hours "i I abour. 1 1 | nuary 4. dui 
discussion l>. City Council on an appli 

imwaymen their work- 

urs fn 'in nine to eight a day, tic 
- '.'. orked ten h 

R tilwaj Wi irkers' I :: : >n, r< pi ■ 
drivers of the Lond ' 

. six hours. I ' 
The Bolsover Crossing Accident. \i the adjourned inquiry on 
Wednesda; regarding tl 1 hildren whi 

killed at a level crossing at B 

v, it was intimated thai ;: G Council had 

railwa) company in the construction 
subw 1 pany would 

i npan) it was stated that they 

would contribute the sum men I ; il the subway was 

construi imaii would lie kepi night and day at the 

>ing. 
\ Variation t" Construction Work. It was 
quarter of tl • thai Mr. C. 1 '., Field, 

htsman in tl 1 

held in April, 1909, as jusl 1" 

th, \i I nmunicati. 

I. Mr. I 

revolution all work 
man « >thcr. 

Success "I /cue System ol 1 ;u>* 

1 . 

oi suburban travel • 

lead the managenn 

id alter M 

:tu] train- w 'Ii be I Ull 

lition. Ovci 
Ticket- permitting 
on thi 
issued week firsl cl 

third 

\ Scutch (ii.ods Train Derailed 

Gart 



20 



THK KMI.W \Y TIMES. 



[January 7, 191 1. 



damaged the station buildings. ["hi permanent wax was torn 
Lip for some distanci , and both lint's were blocked. I In- train 
was composed ol 11 wagons, ncarh all loaded, and th< 

scattered about in all directions, li is supposed that the 
nl was due to the braki fittings ol one ol the wagons n, ar 
ntn ol tin nam breaking, causing it to overturn, and 
> to the derailment ol practically the whole train, with 
the exception ..I the engine. All the wagons were more or less 
damaj 

O.N.R. Traffic Irrangements. The Great Northern Railwa; 
Company's train alteration" for Januan include additional 
facilities foi Hull. Commencing on J-anuan 2, a new through 

; , ar , xpress ' ■ > Cl at 6.5 p.m., ami 

II Pa 1 1 ii 1 1 1. 1 1 1 p.m., v, hile a corres.pi nding up 

train leaves I I all (Paragon) at 0.33 a.m., and is due at King's 
Cross at [.25 pan. I'hc through carriages and connection to 
I lull b\ tin 5 45 p m, fn m King's Cn ss, and ,iKn b\ the train 
King's ( "r, -sat 1 .40 pan., havi be, n disi im- 
tinued. The excursion programmi foi [anuan include book- 
ings foi 1, ;, 5 or 8 days, to liatley, Bradford, Gainsboro', 
Halifax, lluddersneld, Hull, Leeds', Lincoln, Manchester, 
Nottingham, Sheffield, etc., on Saturday , Januan 7 and 21, 
an.! tar half-da\ a, Boston, (irantham, Grimsby, Huntingdon 
N'e'wark, N Peti 1 Rel 1 .1 ami Spal- 

ich Sundai la -a am-h, a. I corrid 1 1 xpn sses. 
\ National Strike In Mr. Joseph .Morris. In proposing a vote 
..I thanks In Mr. Joseph Morris, the late superintendent ..I the 
line, who distributed the prizes won bv the simlmits of the 
II ng and station accounts classes held in connection with 
ih,' G.W.R., Mr. T. II. Rendell, the chi. 1 goods manager, 
mentioned the valuable work which Mi. Morris 
plished in helping to bring about the adoption la all ilia rail- 
ways ol the Kingdom ol a standard sel ol rules I,.,- block tele- 
c, largeh based an ilia regulations matured 
,,n ilia Great \\ . stern Railway. Mr. Morris, in the 1 nurse ol 
his 1 , marks, alluded a- the \\ ork ol his predecessors in drawing 
up the rules for block telegraph working. Hi said thai these 
regulations had be. a mosl . arefulh considered. Although 
some "I them might seem cumbersome .a lirsl sight, tin s \ven 
, ssential a. - if, and pro| 1 r working. I he regulations foi 1,1m k 
working were in u< on all the raihval systems ol England, 
anil minute ami detailed consideration had In an given to the 

ion la ilia Railwa\ Clearing House Commute, ch 
w iih ilia ,lui\ ol ,1, .a/, am; up tin standard rules. 

First-Aid to the Injured, I'll following leltei has been -a. 

la all si.ni last, is throughout the L. ami \.\\ . Railwa\ 

( ' |,.n,i '- 1 st, in la I,, ,i<l Stalbi nia'i , th, 1 hairman ol the 

a\ " I leplorabl, as was the .„, idem win, h oci 1111, ,1 
al \\ ill, 'ah a mi Dei ember 5, it is a vei >. ;ratif\ ing f, ature thai 

longing a. ii;, ambulance 

. ,1, a 1 1 j ,1 and skilful 11 lion a, resi ue 1 li, injur, d 

- ami a, mitigate their sullai 111:4s ,,s far as possibl, 

In such distressing circumstances the assistance of trained 

ambul vho yolunlarili qu dif\ themselv, - a, ,-, a, I, 1 

lirsi . aid a, 1I1, be ovi r-i stimated. la their 

ina Ilia, ia h, Ip lives are h, uu< nth saved, painful , is, 
reliev, 1. mil Ihe convi .an la • ul'ferint; fur surgii il treat- 
ment is carried mil wil .aid gentleness. On behalf 
,,f ilia boatd nl din 1 an -. and ,,n m\ own behall as 

ol til,' I " '' ' ' 1 I e of the St. |ohn 

Ambulani s heart\ appreciation 

■ ■ a mi 1 il.ai -. and a' 

lb, stall who .i-si-a a ,,| || 1( disaster." 

London and Crystal Palace Electrification. Rapid 
been 1 h-eas? London 

portions .'I i!i, 1. |,,n, [?rigl nd South < 'oast R 

• 1 a,i I'ala, 1 ami \ 1, toriti not in, 

I ■ I as up I ovei 

lei '.'■. ires bav, ' 1 

till la -lil al 
i ilia Cn sl.i! I 

a number ,,l \i ■ , m , , , 

11 ulati di" 1, ib, , niinuti s, 

anil lii' Mi-i-c-1 , iiillillli. 

nil ation beti ,. I and, m Hridgi an, I 1 he , 

l 'ml, igru ,-,„ [.,,,. , I 

is. Od., V I ml.,, ,., 1,, im ;iIn 

1 I'he li , ,|,i, ui an, I rapid 

e 01 an, iialli, 

populiir w it il 1, si, |, nm in th, I '1, Mai I'ala, , 

el had to e, mpi li 11 ill, 

la London, which have 

casl aim, a, 11 nl n.uii, al \\ , si \,„ „ | | L1 K, 

Hill, Sin ath 1111 Kalli mi, ( i ipha md Italia, s,,,. 



New Petrol Electric Omnibuses for London, la our n 

1 thi new petrol electric omnibuses which M,-a- 
Thomas Tilling expeel to put in service in Mai next, there 
was a slight i11.1uur.1a in regard to tin conditions under 
which the 'buses in being manufactured. While Mass,-.. \\ . 
A. Stevens, Ltd., are supplying a Messrs. Filling the elec- 

tquipment, consisting of motors, dynamo-.-, controllers, 
etc., foi seven petrol electrii omnibuses, th< chassis for these 
vehicles, with the exception ol th, electrical transmission, are 
being designed and constructed bi Messrs. Thomas Tilling, 
Ltd. 



PECKEXTS coiaoTlVE S 

Built to any 
S] ecification or Gaug) - 
PECKETT & SONS, 
ATLAS LOCOMOTIVE WORKS. BRISTOL. 



MIDLAND 

RAILWAY CARRIAGE & WAGON CO., LTD., 
Builders of 

RAILWAY CARRIAGES, 
RAILWAY WAGONS, 

TRAMWAY CARS. 
and every description of R oiling Stock. 

MIDLAND WORKS, BIRMINGHAM 

and Abbey Works, Shrewsbury. 



JAMES KENNEDY & CO. t Ltd. 

69, BUCHANAN St., GLASGOW. 




Galvanized Signal Pulleys. & 

mutts lit cast &maue able iron. 



Tanuar-j 7, 191 1- 



Till KMI.W \Y TIM] S. 



ji 



RAILWAY STOCK AND SHARE LIST. 



HOME RAILWAY ORDINARY STOCKS. 






Barry, Ord. 

liu. Prof. Cony. ord. (4%) ..... 

Cony. Ord 

Caledonian, Ord 

Do. Ini. Cony. Ord. (3%) .... 

Do. Del. Conv. Ord 

Cambrian, I I 1 

i'rd 

Cardiff, Pref. Ord., 1896(4%) ..., 

Central London, »»rd 

'. 14%) 

Do. 1'. f. 

itb London, Cons. Ord, 

. 

Purnesa, Con. ord 

Glasgow iref.Ord. 

Do. Dot. Ord. 
Great Central, Pref. Ord, (6%) 
Oi 1. 

Great Bantam, Ord 

Great N. ol Scotland, 1'f. Cnv. Or. 

Do. Def. Conv. Ord 

Gnat Northern, Pref. Conv. Ord. 

Do. Def. Conv. Ord 

Do. Cons. A 

Do. Cons. B (6%) 

Great N 1 , Ord. ... 

Gr.at North 4 City Pref. Or. (4%) 
Gt. South. & West. (Ireland) Orig. 

Great Wi ' I '-'1 

Highland, Ord. Cons. Capital 

Hall and Barnsley, Cons 

Isle of Wight, If. Conv. Ord. (4%) 

Do. Def. Conv. Ord 

Lane, and I Ird 



150 153 



62 1« 

22*3 

'8 



152 155 



2l'2 
11 14 
63*4 



92'2 


93'2 


42'! 


42*4 


3934 


40>4 


138 


141 



120'j 120*4 
34 37 



2*4 

2*4 



35'2 
2334 

125a 
69 
59 
16 
94 1 ? 

51*4 

49 14 
140 
120 



63 "4 

25*4 

1>8 



36'2 
24 U 

12'8 
69>2 



4954 

143 
122 



Yesterday. 
152 155 



63 63'2 

25's 252.1 






35'2 
23*4 

12*4 

68*4 



48l2 
141 
123 



Ll 8 
3 , 
S»4 



36'2 
24 14 

13 
69'4 



-Coast, Ord, 

Do. Pref. (ti%) 

Do. Dol 

Do. 1 .)K)vo6% 

Lond. Chat. « Dover, Arblt. Ord. 

ni.Cons. 

11, Cons. 

n 1, 1% Pref. Conv. Ord 

Do. Def. 

ml, Cons. 

, ions. Ord 



liu. nit 

trict, <>rd 

ftd. (24%) 
11,1. 
North Uriti-h, (Jrd. Pref. (3%) ... 

I'.-. Ord 

AH.) 4% Pref . Or. 
Do. Def. Ord. 

Niirtti Eastern, " Consuls " 

North Ciond Cone 

North ■ Ord. ... 

Plymouth Devon 4 B.W. Jan., Or. 

dbot Railway and Docks ... 

Mil iiini Swansea Bay 

Bhymney, Cons. Ord. Cap. Stock 

Do. ! 

Do. Def.Ord. 

Sheffield District, £10 Shares 

South Eastern, Ord 

1 Pref. (6%) 

Do. Def 

Stratford & Mid. June. I 

Tall Vale, Ord 

1 lilamurgan, Ord 



AYoar Ago. 
10? 109 



131 
85*4 
6'2 



133 

86 '4 
7 >s 

10&8 
133': 
135 

95 



113 
131 
98*4 
8>1 

14i« 

138 
141 

94 

48 



39'» 39*4 41 



66 

62*4 

57*4 

65*4 

27'8 

91 

19 



39 
11 

12*4 

213 
103 
111 
3>2 



68 

I8I4 

63 '4 

S8>4 

66'4 

28'a 

93 

20 



84 

44 

1 1 'a 

13>4 

218 

105 

114 

4 

71 



64 

27 U 

62*4 

65'2 

65*4 

33*8 

86 

20 



13*4 

12U 

200 



115 
133 

99 >4 
913 

14'8 
138>2 
143 

95 

4b'2 
126 
3'2 

41'2 



Yesterday. 
115 



113 
131 

97*4 
8>2 

14'2 
13814 
141 

94 



40*4 
64 
27t« 
62 h 
65>4 

86 

20 
131U 
104 



138*4 

143 
95 
48'4 

128 
3'2 
41>4 
66 
27*4 
63ii 
65*4 
66U 

e8 
23 

131*4 

106 



I4l 4 
12*4 

205 



13*4 

12'4 
200 



141; 
12*4 

205 



12012 12112 
41 41 
47 50 



Debenture Stocks. 



Alexandra Docks and Railway.. 

Barry 

Brecon and Merthyr A 

Do. Do. B 

Caledonian 

Cambrian A 

Do. B 



Do. 

Do. D .... 

Cardifl 

Central London 

City and South London Perpetual 
Es.-t London '2nd Charge A 

Do. 2ndChargeB 

Do. 3rd Chariie 

Do. 4th Charge 

Do. E.L.B.lat Debentures 

Do. Whitechapel Extension ... 

Forth Bridge 



Glasgow and South Western 

Great Central 



Debenture Stocks 'continued). 

4% 98 100 NorthEastern 3 82'2 83'2 

3 76 78 North London 4* 119 121 

4 96 98 North Staffordshire :i 79 81 

4 87 89 Plymouth Devon dt 8. W. Junction 4 96 98 

4 108 110 Port Talbot Railway and Dooks ... 4 104 106 

Rhondda and Swansea Hay 4 103 100 

Rhymney Perpetual 4 1C2 104 

Sheffield Distriot Permanent 4 92 94 

South Eastern Perpetual 4 103 105 

Do 6 129 131 

Do 34 90 92 

Do 3 79 81 

Tafl Vale 3 79 81 

Tottenham and Forest Oate 4 101 103 

Vale . I Glamorgan .1 78 60 

Whitechapel and Bow 4 102 104 



Preference Stocks 

(continued ). 



Great Eastern 

Great North ol Scotland... 

Great Northern 

Great Northern (Ireland) 
Great Western 



85 



Do. 
Do. 



1C ' 
128 
115 



108 
111 
115 



Highland.. 
Do. 



Hull and Bamsley 1st 

Do. 2nd 

Isle of Wight 

Lancashire and Yorkshire 

London and Binckwall 

London and Greenwich 

London Brighion A South Coast... 



1> .. 



London Chat, and Dover Arb. . 



24 


70 


1 


103 


4 


108 


a 


78 


;m 


104 


4 


100 


n 


82>4 


i' 


109 


4 


100 


4 


1C5 


1 


lid 


1. 


116 


4 


112 



Do. 

Do. 1883 
Do. 1890 
Do. 1399 
Do. 



London and North B 
London and South Western A . 
Do. Con 

London Tilbury and 

Metropolitan 

Do. A 

Metropolitan District 



85>2 
8212 
82 '2 
104 



111 
128 
117 



111 
113 

117 
125 
139 



80 
106 
102 

83'4 
111 
102 
107 
121 
118 
114 
101 
101 

. 

77 



86'2 
83'E 
83 >2 
106 



Preference Stocks. 



L 



Do. PerpetuaiiHKM-o) 

Do. Priarlden 

Midland 

Midland l S.W, J, 

Do. B 






Do. B. 

North British.. .. 
N. Com 



Alei. Docks, and Rail. 44"., I 

Do. 44% 2nd Pref. li. ' 





Do. 4% Third 

Caledonian 

Do. 

Do. 6% 1878 

I 

Do. i 

Do. 4% 1902 

Do. i 

Do, i ' i 

Cambrian No. 1, 4 
City and So 

1 ,, 1881 

Do, i Pref. 1891 

Do. 8% 1 , I 
Great Central 5% lVrp. Prof. 

1 I i I'rvf. 1-; 

1874 
Do. 6% dr.. 1 ■ 1876 
Do. 6% Conv. Pref. 1-7.' 
Do. 6,,i 
Do. 4% Pref, 889 
I'm. i , Pri I. 1891 ... 

Do. 6% Pref. 1894 

Great East [, ... 

Do. 8»%1 
Do. 3j% 1893 

'■'"■, 

DO ■ . l'r, I. 1»1 ... 



105 
103 
129 
103 
103 
103 



lUrj 
1O0 



105 
102 

1 a 1 
101 



113 
114 
113 
110 
105 



127 

104 

103 
107 
105 
131 
105 
105 
105 
105 



10? 
107 
103 
102 



107 
104 
103 
103 



117 

116 
115 
112 
107 



Ureal Western, 1 on-. Pref., 5% 

Highland Class A 4»% 



Do. 4% 

17 

« 

Hull and 1 

: . Pref. 1U07 (70% paid) 

Isle of Wight 1 ., 

Do. 4% Pref. 1908 

Do. 4% I'ref. 1908 
London Bl - 

- t. 44% 

Do. 44% Second Pref 

Lon. & North Westi 

1 1902 
Lon. d 

li.. 1% Perp. Pref. 1884 

Do. BJ% Pri i. 
I 

In,. 1 , li. f. 1904 

Metropolitan 34% l'ref 

Do. 3.1 , I 
I 

: 
Neath ami 

Do. Edin. and • 

Do. Con 

Do. 4* 

'- 



134 
104 
113 



79>2 


8012 


104 


106 


104 


106 


129 


131 


128 


liO 


86'2 


87'2 


58 


eo 


Hi 


85 


108 


110 


107 


109 


106 


108 


105 


107 



104 
102 
2>2 



Do. 












103 
114 
124 
124 
114 
114 
124 
103 
135. 
103 
103 
1„5 
103 
103 

107 

11 5 



105 

116 
1. 6 
126 
116 
116 
126 
105 
105 

105 
105 
101 
105 

1 I.. 
112 



1 I 5 
'. , 



I 
10! 






THE RAILWAY TIMES. 



[January 7, 191 1, 



RAILWAY STOCK AND SHARE LIST. 



Colonial Railways. 



Closing Prices. 



Alberts P.J. 4 Irrigation, Cap. Stk. 
Atlantic <k N.W. 5% Guar. 1st Mt. 
Beira, 4*% Mt. Deb. Bds. 

Do. 6% Income Deb, Stk 

Buffalo <t Lake Huron, Or. . 
Clgry. & Edinntn., I',, Cm,,. D.b- 
Canada Atlantic, 4° Cons. 1st. Mt. 
Canadian N. Ontario, 36% Mt. Dbs. 
Canadian N. Quebec. 1",, Perp. Bb.-. 
Canadian Nor.. 4",.. 1st lit. Debs... 
Canadian Pacific, Share* 

Do. 4% Non-Cum. Pref 

Central Ontario, 5% 1st Mort 

Dawson Or. ForksatSlewartKiwn',', 
Demerara, Ordinary Mock 

Do. 7% Perp. Pref. Stk 

Do. 4% Extension Pn f 

Dominion Atlantic, Ord. Stk 

Do. 6% Non-Cum. Pref. Stk. ... 

Emu Bay & Mount Bischofi 

Grand Trunk Pae. Branch 1 I 
Grand Trunk Pacific, 1st Mt. Bds. 
Grand Trunk of Canada, Cons. Stk. 

Do. Guar. 4% Slk 

Do. 5% 1st Prcf. Stk. Non-Cum. 
6% 2nd 



A Ye 


tr Ago. 


Last 


week. 


Yesterday. 




142 


140 


145 


140 145 


115 


117 


116 


118 


114 116 


E B 


98 


1 04 


106 


99 101 




58 


86 


88 


85 87 


13 


13*2 


123 4 


1314 


12*4 13*4 


1 02 


104 


101 


105 


101 103 


9 • 


97 


96 


98 


94 96 



Foreigrn Railways. 





ll 2 


101 


103 


99 


185*2 


186 


20C *2 


201 


'. 04 


103 


104 


104 


105 


104 


10 ) 


107 


1C6 


108 


104 



101 

204 *2 
105 
1 06 



do. 



Do. 4% 3rd 
Klrksdp.-Ertn. Streams, 5% 1st Ml 
Manitoba S.W. Col. J' 1 .-, 1st Mt. Db 
Masiionaland 1st Mort. 5% Debs. 

Do. C"„ Guar. Mt. 1" b- 

Midland of \V. Australia, 4% Debs 

Do. 6% Com. Income Db. Stk 

Nakusp «£ SI,, can, 4 ", lids 

Natal-Zululand, 8% 1-t Mt. Debs... 
New Brunswick, 5% 1st Mt. Debs. 
Ontario & Quebec, b% Capital Stk 
Qu'Appelle, Long Lake, & Ssktewn, 
OlH b, c rl Lake St. John, 1st Mt.Bds. 
Quebec Central, Capital Stk 

Do. 4% Deb. Stk. lied 

Do 3% 2nd Deb. Stk. Ited. .. 

I neon,.' Bonds, Red, 

Kliod. -is, .-,",. 1-t. lit. D. ! - 



Do. 



Ill 



St. I.- 



.41 



l%lstMt.Bdf 





4l 2 


414 


434 


4I4 


43j 


100 


101 


98 


ICO 


99 


101 


82*2 


83*2 


82 


83 


81 


82 


21 


21*8 


23*8 


2358 


241 8 


2438 






91 


S3 


91 


93 


103'2 


104^2 


104 


106 


105 


107 


93'2 


94 12 


93 


95 


94 


96 


523 4 


53*4 


51 


51*2 


52*4 


5314 


1C6 


108 


1051! 


107*2 


105*2 


107'2 


1 1? 


117 


112 


114 


112 


114 


92 


94 


95 *2 


9Vi2 


96*2 


9812 


95>2 


96 *2 


103 


105 


101*2 


105*2 


99 


101 


11 1 


103 


99 


101 


e2 


84 


79 


82 


7 7 


81 


95 


97 


99 


101 


97 


99 


79 


82 


7 3 


80 


78 


81 


115 


117 


111 


113 


111 


113 


151 


153 


144 


147 


144 


147 




98 


93 


95 


94 


96 






61 


64 


61 


64 


11 


12 


16*2 


17*2 


16*2 


17'2 


99 


101 


102 


104 


102 


104 


71 


73 


75 


77 


7 5 


77 


110 


112 


11 5 


116 


1 1 5 


116 


95 


97 


99 


101 


99 


101 


8312 


8512 


8512 


8712 


B7 


89 


101 


103 


101 


103 


101 


1 5 



Alcov 4 Gandia, 4°„ Debs 

Antofagasta (Chili) A Blvia. Pf. Ord. 

Do. Def. Ord 

Do. 6% Cum. Pref 

Arauco, Ord. 

Argentine tit. Western, Ord 

Do. 5% Cum. Pref 

Argentine. N E.. Stock- 
Argentine Transandine, 7% Cm. Pf. 
Arica A Tacna, Shares 
Bahia-Blaneo & N.W., Guar. Stk.... 

Do. i\% Guar. Stk 

Bilbao River <fc Cantarbrian, Ord. ... 

Bolivar, 5% Pref 

Brazil Great Southern, 7% Pref. ... 
Buenos Ayres & Pacine.Ord. Stk.... 

Do. 5% 1st Pref. Stk. Cum. 

Buenos Ayres Cent. ,4i% 1st Mt.Dbs. 
Buenos Ayres tit. Southern Ord. Stk. 
4",, E: 



Closing Prices. 



101 
129 
107 



Do. 



, Pref. 



, Pi, -f. 



ICO 102 100 102 



American Railways. 



Alab. Gt. Such, 1 1 

Alab.N.Orl. I- k Pa. .6 ." 
Do. I D 

Atchison. 



38*2 59*2 42 



Do. 



e,l 1 .', 






125 


125V 


10412 


;c5 


105*4 


105^4 


106 


107 


103*2 


104*2 


104*2 


105*2 


1 07 


109 


105 


107 


105 


107 


12012 


121 


1 C 8 


109 


ice 


109 



)3'l 62*2 83 







22 


24 


21 


23 


22 


','4 


'., 1',, bl- 


29 


33 


44 


48 






Chicago, Mil 


ank., & SI 


159 


160 


126*2 


127*2 


128 


1 i 9 


Pr. fd. 


174 


177 


148 


153 


150 


!b5 




, 7% Guar. 


86 


90 


84 


88 








mmon . 


51*2 


52 


29 


JO 


',0 






1 ,, : do, 


51*2 


52 


29 


30 


30 


31 




.,,,. 17,1,1. 


85*2 


bfc*2 


69'; 


7 >:: 




. 1*2 






85*2 


86*2 


b9*2 


70*2 


,>■': 


7! 6 






34*2 


35 


23*2 


29 


98b 


: 1 






52*2 


55*2 


47*2 


48*1 


4. *2 








42 


43 


55 


37 


36 


38 






144 


146 


126 


128 










It' 


151 


135 


137 








1 1 Lines, 4% 


S8 


101 


9 5 


96 


93 


E 6 




outl Common 


44 


46 


33 


35 




53 
























163 


148 


149 


148*2 


149*2 






141 


145 


U2 


134 




137 


Do. 1 






1 -'J 1 


U4 







Do. 1 

' 



, Capital Stk. 



tylvan- .. 

I ■, , 1 1 Prel 



- 



, 



'4 33*4 33*4 3334 



71*2 
36*4 
1 14*2 






. 



121 

1 , 



1 
1. 






r 1 

t6*4 
168 

.'' 1 



27^2 

I -!*c 

120 

1 7 834 
95*2 
lb*: ■ 
35*2 



... Ayres Midi 

Buenos Ayres Western, Ord, Stk. 

Do. :","., Pref. 

Cartagena (Clmbia.) 5% 1st lit. Dbs. 
Argentine Cons. Ord. Stk. 

Do. Deferred Stk 

Central Urug.'ay Eastn. Extu 

Do. 7",, P'ef. Sbar, - 

Central Uruguay Northern Extn. ... 
Cen. Uruguay ,,f Mont,- video, Or. Sk. 

Chilian Transandine, 5% Deb- 

Columbian National, <i",, 1st Mt.Dbs. 

c,,l liiuiiNat.c u-toio.Gt.l 1', ' 1 1 

Columbian N ,ith,in. 7,",, Debs 

Cic 1- ,!,■-< 01 1 ,1 , ■ .deSnta.Fe 
Cordobadl. ■ .. , 1-t pf. Stk... 

Do. -1 7 2nd Pn f. Stk, 

Cordoba Cen. 5% Cm. 1st Pref. Stk. 

Do. 5% Non-Cum. 2nd Do. 
Crdba. Cell. B. Ayres Extn. 5% Dbs. 

Costa Rica 

Cuba Railroad, Pf. b % Non-eum. 
Cuban Central, Ord 

Do. , Prel 

Curuta, 6°,', 1-t 11 .i-t. D,-bs. 
Egyptian 1>. Ita,7,." ., fin. 1 



124 

11?8 
125 



sai, I .It 11 irt. 1 ■ > bs, l; d.... 96 98 

',' '", ' ''!',,'.. 1, . , , 22*2 23*2 

67*2 68*2 

Prel 11 11 *4 

... ' 1 7 8 2*8 

l-all, Old. Sbar- Ci.p. Stk 37*4 373 4 

Is, Pr, I . 132*2 133*2 



v I 






103 
1 ■ 5 

lii; 

291; 



Nitrati Ord. . . 1 1 ''J 

North E.-o-t. of ■ ruiiuay, Ord. 
N.W. of 1 

No, the-, 1 ol l-i ,:„■ . :l 11 
lilt,,,,,.,,: I,, ..I \,,at, .,, 

titt, ,,,„,„ ;-',,..,,■■, :., \ ,.,. Ord. 18b, 

Do ',, Cum. Pref. 21*2 



1734 
104 
19*2 






9 1 



17*2 

93 

96 



Pras.At, .t Plpn-,1 I Islllt !K. 

Pre Algi. ,V N Hi, ■ ■. l:r/.l.)7','„Pf. 1*2 2 

* Valencia 3 

27*2 

lloyal Sardinian, Ord liar, II 141j 

82*2 87*2 

Salvador, llr.l. I *3 

Do. 1','., Pn 1- 5 5*2 

Sun Paul" iBrazilian), Ord. Stk. 2C0 202 

Do. 5' Nun ' a,, Pref. ! Ik. 115 I I . 

S ,11th Au Irian -i ; 5*2 

South Italian. 3' 14 '.4*2 

■ ].. i 103'; 104*2 

Swedish 1 , , ,. Pi. stk. IOC 102 

I'llhal, (ird Si,. -ll, , ' 

I ,,t,l. o!ll,-.:,li:„Yi;. CUV,!:-, -,,',, t. 90*2 91*2 

D". .."..Cm. Pr. f. S 99 101 

l ,,,!,, 1 ,,( the Havana, 5% Ln.Red. 100 102 



L', l 



lid. 



1 , ■_■ I 
96*2 

1 , *: 

36b 
121'2 



',', -, i ' 

W, t, ,n ol ll., 
/.afra 4 Ilii.lv 



32 

luz 
134 
102 

378 
103 
111 

44 

113 4 



"32 
5*4 
94 



111 

97*2 
118*2 



34 
104 
136 
104 

4*8 

105 
113 

45 

12*4 
3*2 

91 
103 
95s 
1932 
53 4 

95 



113 

98*2 

119*2 

11 11*4 

118*2 119*2 

58 3a 

122*2 123*4 



74 
109*2 
101 

73 4 
9'. 
634 

89 

97*2 
8' 
74 
80 



7*; 

Ql., 

612 



34 

105 
139 
106 

438 
105 
113 

47 

12*4 



53, 
94 

113 
96*2 

119 

11 11*4 

118*2 119*2 



93 
111 

95*2 
118 



122*2 

ll3 4 

72*2 
107*2 



123*2 
12*4 
73*2 

108*2 

101 
73, 

934 

6?8 
89 



56 

89 
33 4 
9*2 
100 

3*4 
44*2 
94*2 
61 



lij 1 
113, 
46*2 
89*2 



22*2 



103 4 
2?8 



136 

90*2 
102 



:': 



102 


93 


101 


83 4 


8*4 


83< 


45*2 


46 


4, 


95*2 


95 


95 


63 


63 


65 


91 


88 


91 


61 


58 


60 


IT', 


10'4 


11* 


12*4 


113 4 


12* 


47*2 


46 


47 


90*2 


89*2 


90' 



102 

53 4 
23*2 



3*4 
48*2 
137 
91 

174 



22*2 

DC 

103 4 



101 

534 

23*2 



104 



103*2 104*2 104*2 105*2 



-4*2 
16*2 

101 
101 

12*4 

27*2 

94 

14*2 

133 4 

35 

163 4 

98 



85* 



2 9 
98 
15 
141, 
57 
173 4 
100 
21*2 
22*2 
92 

3*2 
17 b' 
91 

92 

3*4 

26*2 

14'2 

91 
2*2 
5 
205 
115 
5*8 
14*2 



16'; 
101 
101 

12*4 

27*2 



15 . 
36 

16 7 



3 
16*2 
8 I 

90 

2-4 

2'; 
25*2 
14 
86 

2 

4*2 

965 

113 

458 
133 4 
104*2 105*2 
99 101 



78*2 
100 

!00 



6'4 
79*2 
102 
102 



4*2 
203 
113 
45s 
133 4 
104*2 
99 



17*2 
103 
103 



17*2 
100 
21*2 

22'; 



. : 

5. 
205 
115 
5*8 

14*2 
105*2 
101 

6*4 
7812 
102 
101 

51 

99 



105 

BS 

109 

1 10*2 

53 4 



104 
90 

1 1 1 



Jam \ky -. 191 1.] 



THE inil.w \v TIMES. 



2 3 



OFFICIAL TRAFFIC RETURNS. 





Barry. 


b 








1911 
£7.815 
£359.562 

65*4 


1910. 
£11.514 


Ajgpegki 




£402. S03 
65*4 


. ! .,99 1'" 





Calodonlan. 



Croat North of Scotland. 



Total lor • . 



1910. 1909. 

£4.800 £5.350 

4.330 
£9,430 
£216.040 

336 55b 



Metropolitan. 

1 191 1. • 19!0. 

.16.557 £16,183 

■ 

. £433,681 






78 



78 1 



191 1. a 1910. 

-39,889 £'39.147 

...900 52.078 

Total far wot*. - '6.799 f 9 1.225 

2.028.438 1.966.248 

v 956 '< 961'i 

84 I 



£6.482 






Croat Southern and Wostern 



3J 1910. 
( '3.356 

Total (or weak 1 20,08 1 

Aggregi £805,867 



Cambrian. 



1 . i v\ 



1911. 
£1.932 

Total for nd 

Aggregate for 26 '.83.546 

280'; 



01910. 

£1,962 

2.279 

£177.591 
280'2 



Croat Wwtorn. 

1911 




Metropolitan District. 



Total (or week 



£11,233 £10.523 
£279.979 *261,962 
24 



. 



Midland. 



Deo. tins week, i 19o li 




Central 


London. 


Weak ■ 


51 1910. 1909. 
■4.340 £4,924 


26 weeks 


i 141.468 £138.716 
6I4 6U 


Dec. this week, £d(34 Inc. 


£2.752 


City and South London. 


Week ending 

Aggregate for 2v 


1911. 1910. 
£4,138 M.817 

. 51,355 








lary 1 191 1. a 1910. 

... £126.000 £123,000 

90.000 97,000 

Total (or week '-22O.0OO 

Aggregate for 26 «"ks 7 282.000 7.070.000 

2,993*4 2,960 
Dec. thia week, £4,000 In 



oka, £212.000 



Highland. 



u , , k end i 

Passengers, etc. 

Total (or week 
Aggregate (or 22 
Miles open 

•k, S299 tni 



1911. a 1910. 
£5,162 £5,685 
3.654 3,410 



' i 1910. a 1909. 

£82.000 £72,000 

125. 0C0 152.000 

.000 £204,000 

Aggregate (or28 '0.000 6,164,000 

1,412 1.41l'2 

reek, £1,000 (nc 



50.512 £242,72 

492 U 
£ 7.592 



Midland Croat Western of Ireland. 

bet 50 



Goods, etc. 



1910. 1909. 

£5,920 £2,378 

■ 
I , £e.8C2 



[.j 7 Qc ,-q nQ c j mill iir ..^. k mu,u,j *o,o,.fc 

<"4n3i9 £939790 Aggregate (or 21 I! 533,759 £520.519 

538 



••K. £1.2/3 . 1 15. 440 



Dublin and South Eastern. 



Hull and Barnsloy. 



North British. 



Weak ending 

: , 

Goods, etc 

Total (or week 

open 



1910. 
£4.173 
869 



H909. 
£3,456 
904 

£5,042 £4,3-0 

£149,158 

16C 



1911. 1910. 



tins week. £702 Inc. 25 «■ ■ la, £4.788 



Week . i l i . t , t.- ' 



Goods, etc 

Total (or week 



£8,665 

£286.046 
159 
Inc. this *,ek. £455 Inc. 



1911. 1910. 

£2,306 £2.115 

6.359 £6.117 

£8,232 

7.65.557 
139 



Total (or week 

gate for 26 weeks 
Miles open 

hie. this Week. £1.030 



£9,988 £8,958 

£358.247 £329.127 
89^2 87 

Inc. 26 weeks, i'9.120 



Lancashire and Yorkshlro. 



o 1910. 
£39.503 
65,008 



1 1911. 

£41, 

Total (or week.. •-104,511 

592 



Week ending la 
Total (or 



1911. 

£36,871 

65.055 



a 1910 

£35.99! 
58.981 
€94,972 



1.324*4 



1.324J 



North Eastorn. 



Inc. tin.- 



, £-4.4 i ri 



SS5.5S5 



51 1910. 

4 
■ 

£201.173 

\ 

£35,470 



a 1909. 

£57,860 

115.405 

£175,265 

5.378.934 5.295.464 

■ 



Glasgow and South Western. 

31 1910. a 1909. 

£16.-j00 £15.700 

17.50 17.500 

Total (or • - £34.000 £33,200 

£781.2.00 
443 444 lj 

• H30 lac. 22 weeks, £22.800 



London, Brighton and South Coast. 
Week . 51 1910. 

£49,759 

Total fo- week £63,679 

,75,738 
487 



North London. 



Great Central. 



487 
'-i.807 Inc. 21 

London Electric. 



a 1909. 
£47,499 

1.73 4,711 






1910. 

£4.134 



,213 In 



1911. 
£5,785 



Weekend ' 1 191 1. a 1910. 

£24.200 £22,800 

41. e 44.200 
Total for a ■ 

•: :-■ ■ ' ' 2.1 u.'ico 

616's 609'2 



■ for 26 -v 



1 1910. 

£13.610 

-5.395 



1909. 

£15.505 
£525.680 



North Staffordshire. 

1 1911. 



■ 



Great Eastorn. 



1911. 1910. 
£50,200 

41,400 37.800 

£91,6:0 £88.(100 

- 

1 
■ 



1 

■ - vve-k , 



Mi] 



London and North Western. 



■ • 



1911. 19!0. 

£126.000 £117,000 
114.0CC 

Total for-. . : .000 £246.000 

'. . II 



Rhymnoy. 



lull. 















Creat Northern. 



London and South Western. 



\V,. k ending 31 1910. 

-'44.000 

Total for week 



52.000 



a 1909. 
£41,600 
53,500 
£95.100 



191 1. 



1910. 
£53.200 












I 



South Eastorn and Chatham. 












Croat Northorn (Iroland) 



Week 50 1910. 

£12,117 

6.480 



Total f,r weak ! 18.597 

54 3 

. £25.807 




London, Tilbury and Southend. 



Taff v-ai... •■ 



1 1911. 

£9.025 
2.570 
M 1,395 



1910. 









•' 












I .^31 In 



21 






Nona AND BZPXJUIATIOKS.— a The reer:; 
Dock does, etc., Includes!. 
55 miles V proportion). I 

c Canal 119 milca. i Includes steal 1 tolls, m Penal 



• 



-4 



THE RAILWAY TIMES. 



| | \ ' .'■ \RV 7, I9II. 



OFFICIAL TRAFFIC RETURNS. 



BRITISH AND IRISH RAILWAYS, &c 



FOREIGN AND COLONIAL-c'»«/» ; »,rf. 



Mileage. 



1910. 1 



Belfast A Co. 
Brecon, A Mi 
Cleator .v Wor 
Cock. Kes, .v 

Cork B. .V S C. 
Ck. B'rck. &P. 
East London... 
G.N. and City 
Is].- of Man ... 

Isle of Wight 
Isle of w. Ci nt 
Liverpool O 



Mane. Canal 168 

M'port. A Car. . 41 

Mi'M'V 4, 

Mid. .V S.W. Jn. 60 

Neath & Brecon 40 

Port Talbot 36, 

Khun. A S. Baj 81 

Stratford A M.J. 66 



90. 
16 

3j 
464. 
144 
21J 

61 



Latest Earnings Repc 


rted. 


or Month. 


1910. 


1909. 




£2,027 


£2,323 


Ian, 1 


2,603 


2,167 


i.iii. 1 


1.289 


1,011 


", . .;l 


668 


597 




1.1 ■•! 


1,141 


10 


265 


241 




3,638 


3,379 


>ec. 31 


l,ls:) 


1,539 


lei 31 


no 


.lis 


lei . 31 


530 


.".lb 


lee. 31 


66 ' 


667 


.m.l 


1,330 


1,305 




. 11 


19,506 


lee. 31 


2.280 


2,094 


lee. 31 


2,167 


■J, 137 


lee. 81 


1 ,278 


1.119 


lee. 31 


1,175 


1 .1)37 


.,1, 1 


2,587 


2,406 


LB 1 


2,215 


2,209 


all. 1 


675 


512 



Aggregate to date. 



Mileage, 



Latest Earrings Reported. Agsrresrate lo Date. 



1910. 1909. Wk.orM'th 



San Paulo ... 


„ 


us; 


1183 


Stlm. Punjab 


r. 


I'.T. 


425 


Ludha. Ext. 




155 


155 


South. Indian 


r 


1,1'i'JI, 


1,694* 


Taltal 




184 


184 


Temiscouata . 


b 


113 


113 


n. Rys. Hav. 




6611 


bbO 


1 rug. North . 




"••-, 


72j 


W. of Havana 




147 


147 


w.p, ,\ lukon 


b 


112J 


112J 


/.at. .\ Huelva 


„ 


112 


11- 



1910. 



33, .7H 

91,11)0 

IS I! 

1,63,010 

22,725 

lo.Tnl 

Llil.31 i2 

1,745 

4,622 

2.050 

2116,115 

11,111" 



16,375 

4,61,326 
•J.1.-.177 



4,475 

210,'IMl 

9,195 



4,93,088 

100.91,1P.-,1 
101,227 

• 
411,.- 10 



410.007 

9,106 

1311,128 



UNITED STATES RAILWAYS. 



Latest Earnings Reported. 



190910 1908-9. Wk. or Month 1910. 



Alab. Gt. Sth. ... 309„ 

Ala. N. 11. AT. P. 528" 

itc.Top.&S.Fe. 9,790 

Halt. A Ohio 4,193 



I ilk. He, 



1. 1910. ' 

>S2,700 .-72, ,..9 ,2,002,1 1 I 



Nov 



,il.i 



FOREIGN AND COLONIAL RAILWAYS. 



Mileage. 



1 Earnings Reported. 



iyio. 

Alcoy dc (iand. i «W 

Algeeiras i 110 

Ang.-Ch. Nit. a 70 
Antof. A Boi... 11 7o:i 

Arg. N.E <t bib 

Arg. Trans. ....< 1U9 
Assam-Bengal c 790 
1 , c 79 

Ben. A.N. V>. I 1,895 
Beng. Duuars ...c 
Extensions ...c 
Bengal Nag. ...c 
Bil. Kiv. AC....U 

Bolivar a 

Bomb. B. AC.l.c 
Braz. Gt. Sn. .. d 
B. A. A Pac. ...O 
B. Ay. Cent. ...a 
B.A.En. AS.C.a 
B. Ay. Gt. S. ...a 
B. Ay. West. ..(I 

Burma c 1,3-HJ 

Can. North < 

Cell. Argentine' 
Central Crug....' 

Li.t Exteu. ' 

North EM. ...' 



1900. Wk.or Month. 



Aggregate to Date 
1910 1909. 



Di 



. 31 



.So- 



3,"03 



',-1: 



771 
70 1 

1.S07 I 

3bJ Julv I -Dee. 3 
117 Julv 1-Dec. 3 
Dec. in 
Decern ber. 



13,600 

30,07* 
27,150 

33,11111 
0,020 
3,110 

1 1, .no 



31,707 

34,7511 

Jl 1,1.11 

1,562 

1 ,,m:, 
1,1111 001 
15,050 
3,20,1.190 3 ,n!,s 



873,100 
967,054 
B7.3O0 



Cent, of Geor. 

lent, of N. J. ... 

Ches.&Ohio ... 

Chic. Gt, West. 

Ch. Mil. & S. P. 

I'm. N.O.& T 

CI. Cin. Ch. Ac. 
762,200 loin. .'. 

874,842 Krie 

77, 300 Gt, .Northern ... 

Illinois Central... 

Louis. A Nash.... 

Minn. A St. L .. 
st. P. S.S.M. 



7,511 
337| 
1,982 
2,777 
2,230 



9,791 
3,992 

1,011; 2nd 
60s 

1,895 2nd ,ik. 

1,486 2nd wk. Dec. 

II, ,.,!„ 



111,002 



3i."7,,-03 



2,3.', i 



2,419 
110 



165 

1.0 



I i.e. 31 



6,10,000 0.01. 000 110,1 

0,417 0,11)2 1 
5,250 

11,03,000 10.61,000 22-v- 



Xo 



Jan. 1 



2,745 

1,060 Jan. 1 

1,310 Dec. ■ 

3,180 lOdys. Di 

ll. Ill I, Ll 

2,.i2s 



31,750 
87,075 
17.488 

979 



21,1100 
77,474 

11. 006 



377,0110 

2,132,0112 

76,746 

20,317 



271 

-II, 



31 
Dec. 31 



109,00-8 

b.i.'ilb 43,949 1.17S. 15. 

2.93,71b 2.7..,041 62,91,1b 

31 34S, 401) 12, ,000 s.n 10,011 

.11 2,060, 000 '.',.,",000 ..-..b- ..no 

100,165 83,052 2,801,12 

14,276 12,710 293,00 

n.362 4,181 85,95 

2,1,06 



7,129 
1,551 

4,595 
1.027 
2,023 

B,a'io Miss. Kan. ST... 3,072 
■ '•''■•■ " v "- '< Mexico... 1,750 
1,44,822 N. ',.,:.,( II. R. g 587 
■ • N. l-.Ont. A W. 545 
. . ei'" 11 Norf. A West. ... 1,941 
108,596 Northern Pac.... 5*690 
18,743 St. Jos.&G.I.... 319 
1,22,006 St. L. A San. Fr. 
220,500 st. Louis 8. W. 

-,7,o01 Southern 

00,001 r.-xas A Pacific i'885 
Wabash | 2J514 



4,726 
1,567 
7,050 



13,801 

2,101,301 
1.120,07 

02,"0,0..' 



Whl, ci L. Erie 442 



337} 
1,982 
2,77b 
2,170 
6,961 
4,551 
4,388 
1,027 
2,524 



319 
4,72b 

1,567 
7, (1.70 
1,885 
2,514 
442 



0,0 11k. 10 

0, r. 



261,129 '. 
1,162,212 1.1 



M'., Ol.oOt.oSO 
'.61 3,131,981 

171 11,000,11".', 

1.07 28,991,368 
128 ,.l o.oin 
145 11,327.03: 



WORKING STATEMENTS AS LAST REPORTED. 

Gross Earnings. Net Earn 



West Exten. u 211 211 Dei 11 

Chillagoe " Udj hja November. 

Cordoba Cent. u 120, 120* lan, 1 

■Cent. N. see. " ou7« wo, Jan. 1 

n. Ay. I-'" 11." 1-1 187 .1., ,, 1 

Cord. A Kos. ..." ISO ISO Jan 1 

Costa Rica " 215 210 Nov. 19 

Cuban Central a 241 211 1 ,, ,■ 01 

Del. 1 iu. a li. c io2i lb2| 11 ,ii Dei 

IDomerara ',« - on.; '. 

West Coast .. lo lo 

Detroit I iitil....'' — — 70i 



:,23l) 
10,931 



1,970 

2,019 

s.20,1 

11,325 

2,000 
5,490 
5,653 






Di t.G.H.AM.fl 



2,477 Dec 31 

mb in 

1 , 

3, .,00 |0 : 

30o lOdys. Dec 
1,524 11, , 

D, II 



6,375 


7,102 


94,200 


so, 000 




"6.060 


2.1 17 


2,512 


100,511 


■ 


8:7,700 


07.401 



s 10,200 Alabama Gt. Southern Oc 

11,17s July 1 to Oct. 31 

Atcb.Top. & Sauta Cf.. "' 

10 139,425 July 1 ti Oct. 31 

" 345,700 Baltimore and Ohio.. No 

1 t,74 1 July 1 to Nov. 30 

147,495 Canadian Northern Oi 

.0 1 n,647 July 1 to Oct, 31 

15 1 1 ' "in Canadian PaeiUe "' 

10 n ii-.ooo ■ July 1 to Oct. 31 

13 96,622 Chesapeake and Ohio 0, 

lb 12,589 July 1 t" Oct. 31 

— Chicago Great West. .." 

10 S21.2K9 July 1 to 

17,61,01)0 11,21,000 117,75, ouo 383,52, Denver A Rio Grand e 

9,765 0.001 17 .,840 168,942 July 1 1 1 31 

i,,an,l 1'runk at 

- . I Hi • 2" .i.i'.oii 172,107 Mam Line .. . 

2 13,1111 1 • .,,1,11 .- 

8,1 12 11,103 100, 100 227,217 Jul} 1 to So 

; Grand liiioi. W, stru 



30,0.11,11.", 
1,470,106 
10,151,050 

10,229,870 

".;, ,i3o 



, : 1 



,1, 



ulj I 









li.U utGr.Hv.jt.MU. 
Total lor System . . 



No 



"• 






imli, 



lot, 



I M, 



■ 






I 



W,|e 
1 01 






Mexican *. 

a 

a 

' 






10,675 
I 1,400 

7,881 

1,0 ,0 

1,121 



37,091 
53,109 



Oliiii.sc. P it s.s.M. 

July 1 i" 

61,500 " I S3. Kao- A li'A.is . ■ ' 

1, ii.1,784 July 1 to .1 

1.:-. 7, ..7 10 N.in 

, to Oct 01 
Now York Out. A West. 
3,9112,011(1 July 11" 11 

.ling .. 



1,245,1 ,3 
1,413,810 
2,281,13? 

173,700 
98,000 

II 

178,100 

0,01 1,1" ) 
0.101,1 10 



38,04 1,20 
1,384,200 

1,111,1,00 
0,7 1 1,007 

2,70 ,.0 ,1 
10,491,828 
1,115,170 



3,1113,80.1 

■1 



I". 



.,16 1 



Coal and Iron i 

.luh 1 to II 



01 





321 

























, ml" 1. 




ll 


ill, 








1 


01 


N , 










''. 


















1.10- 


' 






219 


20 


1, 


: 


, 


100 











_ Total both Comps. 

140,265 Jul) I to 11,0 31 

1 n.it St. L 
19S,955 Jan. 1 

i. Jo . and 6r. I.-l. .. 

,7x3,711 .lu.y 1 to Oct. 

,713,1 ,.: i.I, iuis ,1 San. b'rau. 

24,750 Julv I to Oct 3 

l.illnay 

July 1 1 , Oct. 

Hi 1'ai'lOe .... 

.... 11. "li July it 

5,59,2.76 Wabash 

1 i5,(i4ii lulv 1 t" s.|,i. ; 



. 



1 1. 11,51 ■ 
■ 



|,"02,02O 

s, -0(1,000 
' 

1 : . 1 ■ , 



11,337,639 


S.SOO.OSl 

1,515, '69 
7,l"S,ll(ll 



1910. 

$127,319 

166,11s 

3,762,648 

1,823,381 
11,837,494 

1.072,00(1 

1 ,,5 13,052 
961,359 

4.15..733 

.,7.1,01,1 

000,160 
2,752,051 

£133,400 

7, sun 
10,600 

81,650 

1 1,00" 
31,10 I 
161, 000 
077, SOU 
$1.607, 02S 
... -,12,019 

- 
1,277.072 

3,216,"Sli 

-.soil, 70S 

1770)71 

1,209,71s 

237.no., 



101)0. 



11,1 



11 , .:.-,:;, -00 
1,101,1110 
1,873,292 

6,SSS,2s3 
16,270 
10,, ,000 
1,0,10,003 
l„s'27,"l,i 
2,011,405 
6,76,1,(103 

10,III7,SOO 

968,206 

2.539.S12 



8118,352 
860,282 

o,.,-;, 100 

180,700 

1,226,200 

l,0-o,207 

13,202,116 

1,I23,3s:i 

1,310, ".,6 

100,840 

1,1-1,03,1 

718.4S7 

2,70.,, 101 

£155,400 

1 

32, SO" 
211,000 
I [1,20 

44,750 
199, 1 

$2,o07,0.-.s 
6,861,360 

1,(1-1,1,370 
2. -3., ,270 
1,321,723 
3,0'.lo.012 

001.. ,75 
1,70-,. 227 

Dr. 21.979 

1,057,293 
5, '-1,2.17 

1,016,400 

7, IS, Hi! 

1,0,110 

171.769 

1,148,821 

1,430,6 . 

i,:is2,iss 
■ 

4,770,102 
887,723 






ipl . ' 



January 14, 1 > ; 1 1 .] 



["HE k\ll.\\ U TIM] S. 



25 



WESTINGHOUSE CHAIN DRIVES 

DRIVES FROM ■ TO 1,000 I IP. IN SATISFACTORY OPERATION. 



For driving heavy 
machine tools, line 
shafts, and for all 
kinds of high speed 
power transmission 




Westinghouse 
chain drives have 
highest efficiency, 
longest life and 
need minimum 
ubrication. Please 
write for our 
catalogue. 



Westinghouse chain transmission on heavy machine tool. 

Manufactured by 

THE WESTINGHOUSE BRAKE COMPANY, LTD. 

at their works : 82 York Road, King's Cross, London. N. 



THE 



BIRMINGHAM 

RAILWAY CARRIAGE AND WAGON CO., LTD 



Railway Carriages, 
Tramcars & Wasons 
of every description 
for Hire and Sale by 
immediate or Defer- 
red Payments, Iron- 
work, Wheels and 
Axles .... 



SMETHWICK, 



MANUFACTURERS OF 



Wagons for Hire, cap 
able of carrying Six, 
tight, and Ten Tons, 
part of which arc con" 
st rue ted speciallyfor 
Shipping purooscs. 
Wagons in Working 
Order maintained by 
Contract .... 



OAK & STEEL UNDERFRAME WAGONS, 
HYDRAULIC PRESSED BOSS, 
AND OTHER WHEELS AND AXLES. 

G^arad Pnix, Buanos Ayres Exhibition, 1910. 



Sole manufacturers of Dean and C 



irds patent " ! 



26 



THE RAILWAY TIMES. 



[January 14, 191 1. 



BROWN BAYLEYS STEEL WORKS, Ltd. 



SHEFFIELD. 



Manufacturers of Steel by the "SIEMENS" & " BESSEMER " PrOC8SSeS. 

Makers of TYRES, AXLES, and SPRINGS, for 

RAILWAY LOCOMOTIVES, CARRIAGES, and WACONS, and also for ELECTRIC CARS. 

SPECIAL GUARANTEED SPRING STEEL. 

SPECIAL STEEL BLOOMS, BILLETS & SLABS. 



London Office— Suffolk House, 5, Laurence Pountney Hill, Cannon Street, E.C. 




' v.' -".^ 




A Convincing Reason 

why the typewriter purchaser should select the 



g£ 



REMINGTON 



•>*> 



has always been furnished by the unique Remington 
strength and reliability. 

Eiohteen additional reasons are furnished b\j 
the eighteen original improvements found in the 
latest Remington Models (Nos. 10 and 11.) 
Let us send you descriptive booklet. 

REMINGTON TYPEWRITER COMPANY, 

100, Cracechurch Street, LONDON, E.C. 

Telephone No. Avenue 5555 (4 lines). 



OAVfs Burrow & Sons 



BRUSH MANUFACTURERS, 




Contractors to the Railway Companies. 



Our Home Railways: 

How they Began, and How they are Worked. 
By W. J. GORDON. 



8vo. with Full Indexes, etc 



2 Volumes, medium 8vo. with hull Indexes, etc.. and lllus- 
ited with 36 unique Coloured Plates. 50 Full-page Engravings, 
d upwards of 250 smaller ones from the latest photographs. 

many of w ich have been specially taken for the work. 
[Style I. : Elegantly bound in cloth gilt, gilt top. each 6s. net. I 
Sty le II. : Handsomely bound in half-morocco, extra, gilt 
top, e.ich Ids. net 



F. WARNE & CO., 

CHANDOS HOlbE, Bedford Street, Strand, London. 

I.M . n> . in\ I RK U;li 



Ot in e .-l toal .he t .II ,w 
t, o wui'kin- s of our Railways. 



*fiW£<+ 




SUBSCRIPTION RATES: 
2s. per annum, post free 
Art Paper Edit on, 3=. do 



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JOURNAL. 

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illustrated J be had at all 

kAILW,Y 
PUBLICATION. 



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Subscription— Art Edition, 3 6 per ann. 
Ordinary ,, 2/6 ,, 



Paddlngton Station, Londo 



|\\r \ky 14. [91 1. 



Till RUI.W \Y TIMES. 




ins are I 
Luncheon and I 



R. M. S. P. 



The Ry>l M»il Steam Packet Co. 
>Roya! (hurl r dated 1839. 



SOUTHAMPTON to ARCENTINA and BRAZIL 

Via Spain S Portugal. 

West Indies, Central Americs and N..W Yor*. 
London 
Morocco, Canary Islands & Madeira. 

We^t Indies, 

Special Yachting Cruises. 



LONDON (MARYLEBONE) 



RUGBY, 

LEICESTER, 

NOTTINGHAM, 

SHEFFIELD, 

YORK, 



LEEDS, 

HUDDERSFIELD, 
HALIFAX, 
BRADFORD, 
MANCHESTER, &c 



Cross Country Expresses are a distinct 
feature of the G.C. Service. — 

\STLE S( .Vfi I RH I.U. 

BRADPOHD.Ht 
l;ol III nil I »/, and SHEFFIELD, 

Oxford Southampton, Bournemouth, ami the South 

Western Line, sin to mid from Gloucester, Cheltenham, 

Newport, C;ir.liM. Barr) an i South Wales. 

Bath and Bristol «ith direct connections inr tin- 

w esi >< t upland 

SHEf-'l ill I ■ ■ 
Via MARYLEBONE is LONDON'S POPULAR 
ROUTE or STRATFORD 01 



nil CONTINI \l 

GRIMSBY 

HXMI',1 Hi,, kol II kl>\M ANTWERP. 



SAM FAY. 



VBCTORITE TREAD 

■ . (REGO 

THEATRES, 

SCHOOLS, 

HOSPITALS, 

ASYLUMS, 

•her 

PUBLIC BUILDINGS. 

It is the most EFFECTIVE TREAD, and gives an 
ABSOLUTELY SURE FOOTHOLD. 




Su n DrS B IRMINCHAM. 




pArtta,* or 



Galvanized Signal Pulleys. & 

F/nifto irt CAST & MALLEABLE /ROrv. 



Tile 

13 BRIGHT AND GLEAN IN APPEARANCE, OF GREAT 
DURABILITY AND INEXPENSIVE. 



Specialists in Architectural Stone Dri 
Staircase Work, and Granolithic Paving (in ^itu 



THE PATENT VICTORIA STONE COMPANY, LTD.. 

11-13. HAMILTON HOUSE. BISH0P3GATE STREET WITHOUT. EC 



THE RAILWAY TIMES. 



[January 14. mil. 



COMPANY NOTICES. 



South Eastern and Chatham Railway 
Companies Managing Committee. 



Midland Railway Company. 

VTOTICE is hereby given tha 
^\ Books in whi. li the 1 ransfers ol th 
mi ntioned Slocks of the Com] 



n that tin 
under 



N 



City and South London Railway 
Company. 

TOTICE is hereby given that the 



ViiTH'K 
_J> South r 

u 


istl 1 'I 

i.j C01 


lerebv gt 
.11.1 Chatha 


veil 

n 1: 
111 | 
[6 


bv the 

Iv, 13 C 

irsuance of 

.1:, SOUtll 

•1 Railwavs 


\ . t 1 :i .li 




1 il Meeting 


.1 tli. 


Proprietors 



Proprietor's of this Compnnj will be held .it the 

_' [ ..-1 r.ni i , ..ii...!i.lat,..i r.'i |i.'in:il (in 11 Mnti'i-I I,,,,,.,. f the Company. 71. Finsbun Pavement, in 
Preferential Stock, .,,, ,■,., ,: London, on In sday the 31st day o! 



I , • I ,,,.,,!, ,|:,t ,| |Y, ,„.( ,,:, | |', , 1, 

preferred Converted Ordinary Stock, and 

Di i, 'i red Convene,, (ii.lin.n i m,. I, 
Will bi ■ losed from and aftei II, 



I'll I. :,t I.' o'i lock '. foi the Jim Mi-.- 

[he Report of th' Directors and the 

,,.„,,. ,, t ,,i Accounts foi tl iding 31st 

,.. . -,i,i, , l 'Mi i tin ele •! I two directors md 

the Iflth ■ .,,,,!,,,,,. : ,i„| tin- tran-aetion nl the oi Ihiiirj business 

lBth day Of ,,, the (',, 



let I '• '< '"" ,! " ■>•""■"- '" ", ' " ,ln ,„ .lanuarv ,,,-tai,'. until Hi,, liith day of ,,, the Company. 

Ol th. Smith K, '" "';' >"' ■'"' " p ( .|„„aiv next ,,,<dn-.ve. and that ill Trail.-! I',, „ ! from th. _>!-- 

'" '>, ' '""I"""- >">''' , ,,•,,, Deeds titration mu-t I ,.,,n-it,.d in tin. t „ t ,„. ;,,.., , l:1 , ,,, ., ., „„„ , , . rn i i„ 

' - ",.' " | "" 1 ,'". ''" * ,..11 OfflCI nOI latei thai, I'lnn-d,,, th,' Pith da; ,,t I,.,,,, | ,1,;- '12th dav n't .lamia,'., PHI 

•" J Vil,, t .I:.mi:.i> M,-t:,l.t. t„ . ..Title th. I . a n - 1 , . ,-. to " . B 

x '" ' im I'i'l , '" 1 ' 1 ,' the tur'tl,, ..." ilnidond, C I! ST1 IM vVORTLET, 

RfP»" "' >■"';■'»■■" '" v '''""'" l ;„.'. 1, i RNl -i PAG1 i c 

' '•■•' ; " "" " '," 1 '"" 1 ' '- ■"*' il, •,,,,, I th B rarcl ol , tors. \\ I' KXICB 



A. UCERS I 1LAS 

Deputv-Cln 

ill Mil. I.- SB BATH 



ll'.MIV TYLSTON HODGSON 
Deputy Chairman 

MINIS I. I'll MM. IS. 



Great Eastern Railway Company. 



South Eastern Railway Company 

■\TOTICE is herebv 
.\ mi 



„ . ... t> -i n XTOTICE i- hereby given that the 

Metropolitan Railway Company. ^ Ninetj-Seventr. Half-Yearh r General Meeting 0! 

_ _ . — : — . th,. in '.•,,, ,,i th- i;,,-,t i.,-i",i P'iihia> t'',ii- 



"YTOTIOE is herein given that the ,. .',',„ 

_^\ next III, I, hall llall'Viul.- Al, , Ol till Com- K.ai 

OTICE herebv given that the pany will be h.ki it the Liverpool street Hotel st 

Hundred and Forty-Ninth Kalf-Yea.li .Pi-li-l",'..,' "in I. " 



,11 be hold in the Hamilton II ill i1 tin Gn - 
ilot.-l iBi-hu - • 

-T.,t. u the I .. I . - 

ol I ond the 31st daj oi ■) man [91 1 

!, da, noon, in ,'. i -■■!%- for the 



*-* "'', ."'""" '"' ',''., ..,,,„,, COm- rw.'ho o , h„ I l.oon. Ol, Wedl.es.h,,, the "ntl, da, ,,,,„,, ,,,,•, ,-elv I" 

„;.',,,,., o, .1 > I'm at the cl t -„ tins , taking \Mi SPECIAL VHU'l. I- HEREB, 

,' '" ',, ,'",',';.' ,', r.nlo ., Fi'd- l' N""."! or K,.i.„h ., Meet,,,, ,., th .. Com,., J1VEN that al such ■' on will be 

";r , v f la , > P 1 I I .'' ''"'I- «,11 !„■ held ,<„ the , ,,.,,,..>.- „, ,,,n.,d..,ing. ,,„,. ,, submitted to the Proprietor. 

-'." ,' l!, - % '" „,'.„,',„, the te, al. a, ,,„„>, „.. ,.„• 11,11 1,,,,, a,, ',., TO nntl,..r.«' til, Ilin I" 

,,,'..' . ,. <imth by tin- Company ... the ensuing S. sion ol Parlia- out ol the revenue? ol I 

'' H"'"?! :" ' ', ,',' ' , , ,,\, .„.„!„,' lion, intituled exceeding One thousand 1 

'"' ■•'"" l "', ' !!.' '"",' ., , ,„, that "A Bill 1 thorise the Metropolitan Hallway onh in re tion ol that inn., 

r \TllT™'l.i'l"l !™ dl,' ilii ."in," "'I the <'"»>! ' '" '■""-!'""• ' "l'h'"l"'-' "1 tl"'.. la.h,.., ,..-,' ,1. H"' I- "> 'he 11 ia-ten, 1! ill" ' 

I Binlnesi of th, Company o!!',,.,,. -, ,'[,'m i",.'.',',' ' t.^'th,. ' -'.,i„'" .',1. " "u ' • "' '. -'"I ' 



' 



Me 



1 l„ held ," the Groat 

- ,|„. ,'• S.,. Il,,',' ," the Cltj "I 

Undon^on ^J^JZ"? ^ -"C^L n't"'. Ord 

;r^b"v!':lin-n'ti. l .n.',l''lV,ii'-'Y, !' h Vi,\,V, ! r'.Mreting. and ^ 

,. ,, ,1 M, ,.»,,„.. lie- t,,ll,o,;,,' "HI 

: '','!" "!.'.','",,; inn 



foi foot i 

rli \ I ; 1.1-.- a, I. m:i.\ 
Cli 
w II BROWN 



the conclusion ol tin 
n in II ,11-Veailv Meetiue o 
In- l.an.ls Stock will b? In 



to the SUniS al., i I 

ontribnt ,1 to the fund' ,,, ,|, ,, - ty. 

VND NOTICE I- II 1 RKB1 Fl R l"HER GTY1 S 

that ,,, „,',', ,„.' U'tl, 11.' Standing Ol 

Parliament. - '■ the P" ■ 

o ■ lie, tings the pi a",,.- ol Ihe Gi at East. , n II lilwaj C 

Ho ,l. , - of the i,.. h, Id in the 11 imilton H til, ■' '■ 

|, U 'Hotel a,-, P.V tie 111-1 ' P'll. I' 

th. iu "-. half past twel 



be iiit,„d" ed into Parli 

tl"' Pi 't"l'- then I"' 

bl l""M • fOl Ihl'll al'] I " "I. ''I' 

, ,. , ,.,..., the London and South intituled 

u,.-i, ,,i Railv. ij Co oi' en to 

.,.,,, , , ,; •• . ,,.| tO ae 

I t 'I se the ii 1 

i. I thi 

I lompnin t if. fui 

thi C ij I other comn inn 

| lands t 'Ovule I ■ ■ 

"in ,,l th- - ' thi Bud 

!,.,-!, Salt, iion Railv. 



i: ,, ,.. 



the 



1 

II COSMO u Bl 



l a, 1,1,1 "I 

,,,! for "the 



'. i 

' 
Hi. ir railv, 

i,,l foi 



the, ,..,.,,• I a« th, l„l- -■ " 1} Gene,':, I 

... ..,.: ',,, in ■.. ■'. th,- .ain- 

,|,, ,1 the ,,,e id , .- Il ,11 I 

S,„.,'.,a| Gene, ,1 Meet t 11 - tollouile.' Rill ill Pal 

..all,,,,. With the mid. nine,,, ! titl, 

submitted to the Proi rietors then |,r. -, nl n 

..I I,, proxt for the ; 



,,"..„ 



M it; .p i i; h. ITCHING 

eh. an of i', 

the c nanv. 

2 \\,.il me Tcriaee. 



■Ri.il- 



,R 



ri; m;; :.- SHKAT1 



London, Tilbury and Southend Railway. 

VTOTICE is hf-rehv givi 

^> no, ■ II I red and Ninth 11,1 



\ Rill to antl.o. ,-. , I, 

„ ,, Comnain to ■ Rail« 

works .ml to ,. 

ther powers upon that Comnanv : tn 

lh,. , oii-tii.et.on of vorks lit 

"in 

Midi .ml I! nhvav Compani ' 

stnietion ol widenins-s ,nd o 

,,1 lands l.v Ihe G.eat North. , 

In!" ,, 1 |,.m .nl I '■ H 111" 

I I |,'l " , . to "Olltl 



in 

lid ,le 



London Chatham and Dover Railway 
Company. 

by eiven that the 






r, 



that the 

held in tin Board 
Hill London, E C 
[91] .,• 12 



the 



VTOTICE is herel 
.\ ii 



.'hall, 
l,e held in th'' I 

Hotel ii 

Pill 






R , 



.1 



, n III, 



Il ,1 , 





' 1, p 1" . , 
1 1 ,1 ll.'l '."'-' ' 

th, South i 

■■ '•■ •' i ,',,,,,,,,,' 

- ;,, . -i, ,ii .„■ ,-,. 

'I" Ge,„,,l I!"-.."' 

I 

\Y II MM to 

' 

n . u . 

, tn, , - t ,,,, 1' ■ I ' S.W 



Great Eastern Railway Company. 
VJOTTCE is li.'.oliv civen that thi 

Bv Ord 

n i 1 1 \n s 



i 



iv, meeting, an 

nan G i i ,.,,,,,.,,,, will 

,., Hi, ," ,„,-,. ,,i submitting to tile Pi 

.1 -"haan , iroval the 

- ,,: th, following 11.11 deposited lo. the 

-e--i o Parli: alt. intituled 

Poll t i, "- further now I n h. 

,n Till, in, and -."ill i ftailwav Com 

« |ie. t to the ' i, .'tn. .I working ol 

R lilv. ■ .,"1 otherwise " 

ii ... « ,'i lie closed from tin- 16tl 

, tin 2nd proximo in. In 

\i; l HI li I. STRIDE, 



lands bv [hi Great Mortlu rn 

. I, on. Coinnottee: to authoi isi th ■ aeniu 

th, i.,. ,i S'o fhei r. . ■ Comrtui 
audi it iking of thi tin-" (1 I 1 

a pal.v: 'Mid foi 



l< ',o,t: 



. i: 



l ilill XEWTI1 
',,»., Hill l ' 



The English Association of the American 
Bond and Shareholders. Limited. 

-, GREAT WINCHESTER STREET l..\ln.N. 

\, is is TinsTlF FOB Dl i 
-I'irl M ATTENTION is dire ted to the new form 
ol REGISTERED CERTIFICATE issued bv the Asso- 
rt u herebv exit. ..-<■ i isk, and trouble are 

I lo share!,,,!,.,,.. 111,-. "- ,„ 

exception ,1 ndvantaces are " 

and .' an ad. an -bill 

I . mtatio l lompanii 9 

r\\\'\:V \mil \r\\T required w 

I ,, . ' ,, :,_ . , ,. ,,.,„, t.m-'iiis axd Drum rons. 

, , ; ■'■'' 1 , I, "', . ,,,„,. ,,,, .,i : „, Alfred W. Si I ' London. 

,„,,,,, 

Thomas Reynolds I 

;, ii,". i ,,,,1 \> Ibi ol MP" rton, G.I B 



POSITION VACANT. 



nl Street I C 



Subscription to THE~RAILWAY TIMES. 

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THE RAILWAY TIMES. 

Established In 1837. 

PUBLISHED EVERY SATURDAY 

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THE 



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= == = (Corporation, ^imitco. 

Assets exceed ■ £2,000,000 

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RIOHAKD t. ]■■ 



CANADIAN PACIFIC PROGRESS. 

For some time past the i 

h ell know n ha\ e bet n disti ibuti >l on .1 vei 
ei ■■. ati\ e scale, ["he d 
to disti ibul 

revenu : derh d from the salt 
trent hed upon al all. During the last fin; 
the dividend was inert 

bj raising the distribution in n spect 1 railwa} 
from 6 pei cent, to 7 per cenl tl 
beinj dei ived from the land ; el U thearnuali 
in ( ictober an indii atii n v, a; givt n bj the Pn 

r share in tl E the Company v 1 uld pi 

1 paid to the shareholders al no distanl d ti At thai 
meeting it was also notified thai dividends would bi 
I mi 1 quarterlj instead oi half-yearly as hitherto. When the 
first quarterly dividend aftei the annual meeting was 
announced at the former rate ol pei annum, 

that is 2 dollars pei shan eai m mths, some dis- 

M'l tmenl was expressed This has now been entirely 

remo\ id l>\ the intimation that the land dividend will 

be raised 1 per cenl ti ; per cei with 

7 pei cent, derived from railway profil to per ct 

a: .nun in all. Although some actii 

1 1 1 he stockholdei - has been expt 1 long time, 

the definite plan was kepi a 

the increased dividend was announced tl shares were 

rather a dull mai kt t al , a here; I iy last, 

when the ar.nouncemenl oi .1 more libera] distribution 

was made, the price rose rapidlj to 210J. Allow 

11 i thai the current pi ice includes acci ued di\ idend, 
and thai the distributioi - are made on the \i 

current y ba t 5 pei 

cent., and il 1- nol to be w< i dered al th 

sharp recoverj in price, even highei - are being 

discussed. l'.\ :n ,1 to pei 1 nl dividend i ui dei the 
pn enl prosperous conditio; s enjoyed by tl 

Pacific, an extrem K co ei ttive distribution. The 

railwaj profits foi the yeai ended June [0, 1910, were 

equal to ovei 23 J millit n dollars, whereas the 7 pei cent. 

dividend paid oul oi railwa; 

million dollai s | u annum. It w ill be r< callt d tl 

1 1 ei ce n di> iden 1 hit! erto paid out ol the 

has been arrn 2d at w ithoul 1 nci lachin 

represented b\ land already sold ar.d thai still rctair.nl 

unsold. I hi ; from this 

iwing tii such an extenl that even the increa^ 

tributit 11 "i ; 1 ei 1 en1 on Canadia P 

ol the prot :eds ol land i . 
- 1 diminishing t h 1 

assets in res] ei 1 ol the lai d. It wi uld pi 
u adian Pacific sharehold 1 

cent, distribution as the maximum payn likely 

made in the form 

valued on this basis investors will pn 

i" pay coi siderably mi re than 

.1 Idition • 

ultimate possibilil ived firm 1 

ti ick I n lav 



JO 



THE RAILWAY TOTES. 



[January 14, :gu. 



ble distribute 1 s on account of the lard assets. New 
that the financial 1 isition is so thoroughly strcrg, we 
imagine, however, thai publii opinion in Canada, not to 
say diplomacy on the part of the Board, will dictate a 
more libera] policy "I improvements on the line, and 
possibly also some concessions in rates. The wcnderful 
prosperity enjoyed by < anada, and the continued rapid 
development of the country will enable such 1 mo 
as those indicated to be made withoul in the leasl threaten- 
, the stockholders. Apart from the reserves 
ahead} accumulated in respect of railway profits and 
ales, tli • unsold lai d constitutes an asset of almosl illimit- 
abl valm . and 1- really .1 large undiscl ised reserve. Foi 
the present, howe\ 1. < anadian Pacific shareholders 
will probably agree that they have been admitted 
liberal a share in the prosperity of the undertaking ls 
i hey i an pi udently expect. 



A NATIONALISATION TROUBLE. 

Like the poor we have always with us in this country 
■ party in favour of the nationalisation of railways. Many 
cogent reasons and arguments against such a course 
have frequently been advanced, and ,1 new illustration 
of imr of the difficulties in the working of State railways 
is afforded in the annual report on the Government lines 
m Western Australia, an abstract of which appears in 
can" presenl issue, Perhaps the circumstances will not 
appeal to those of a Socialists tendency as an argument 
: State railways, but the} must so appeal to every- 
one who rei ognises that all railway s, 11 they are to continue 
efficient and solvent, must be conducted on business 
principles, with a manager or managers 111 lull control. 
The facts in relation to recenl events in connection with 
the Western Australian railways are sel oul cogenth 
link by the Commissioner in his report, and it is 
tolerably certain that were it not for his official position 
he would be moved to much stronger language. His 
nenl pul into fi wei and more outspoken words than 
he uses, simply is thai his 1 owei has been usurped and his 
authority threatens to be destroyed owing to the a'ction 
of the West Australian Parliament and Government. 
li eems thai in the year ended June, 1909, the Govern- 
ment cut di iw n 1 ■ • 1 -M 1 against the advice of the Com- 
iner, chiefh by stopping increments to the salaried 
, in mam w; g : eai nirtg empli ij ee highei 
minimum rates. Great discontent arose among the 
employees, and in December, [909, a membei ol Parliament 
ed the adjournment of the Legislative Assembh in 
ordei in call attention to the matter, ["he Premier ar 
.1 meeting between certain members of Parliament 
and representatives of the offii ers' and employees' soi ieties, 
and as a result the Premier issued an award making con- 
ins to both branches, which was confirmed l>\ Parlia 
merit, and which mean- an added expenditure of £18,000 
pei annum. The Commissioner's comments on these 
proceedings and on the wa\ in which he had been ignored 

ible \c t mod' rati' 111 1 ■. and have such a fine 

pii e nt ,11 1 a in, tha 1 we quote them : 
" I In methods by whii h these mattei hav. bee .1 deali with and 

1 1 ... 1 1 ni acqu 1 t In Govoi nment and I 'ai liamenl in 

, m in ii.li 1 1. .a • 
11 ,ii ."it In 1 ,n\ iiiiii]' hi 
\i t u lui li 1 . i/en intended to rcn 

administration ol tin D'cpaYtment from pblitical influence I nli - 

ion hi.ulil. 1 submit 

1 1 11 . 1 I- observed, ind whili tin i .1- thi y 

: 1 1 ■ l.ii no 

,,. -1 1 mi in thi exi ' ution oi m\ dut\ the Act, es] 11; 

h en the authori 

ibilit; 1 rib ■ ntails and h quire I urtlu 1 . 

.: abli; foi 1 In. m.iii'ii 11. 1111 e oi 1 In authoi it j re 
1 .' mil 'I' ' 1 ion "I I In < ."'. ' oinr 11 I Id 1 I :n\ 1 n 

lirei t to ni. thai I 1 ■ 1 1 . the employe. 1 . n 

Ji would be interesting to know how this oul 



criticism of the Government and Parliament by a prominent 
Mate offii ial who 1- responsible for the whole administra- 
tion and working of the railways is received, especially 
by the Labour party, which has such a dominant voice in 
Australian politics. It is to be hoped that the Com- 
missioner's protesl will have some effect, not merely for 
Ins own sake, but for the sake of the efficiency and pros- 
perity ol the railways. It is tolerably clear that if the 
Government and the Legislature continue similar action 
the days oi their railways as a prosperous, self-maintaining 
concern will soon come to .<n end. Examples of inter- 
with the management in the case of municipal 
tramways are fairly well known in this country, though the 
manager's views are usually heard, but as regards our 
Government department- less is known as to what is 
happening, as reports by permanent paid heads of depart- 
ment- on controversial subjects are not published when 
such reports would reveal an\ strong difference of opinion 
between the permanent and the Parliamentary heads 
Our Post Office, however, is the only Government depart- 
ment winch can be compared for magnitude and as a 
trading concern with the railways, and long dispute- , 
occurred regarding wages ol Pos1 Office employees, the 
frol ii which has sometime- come to the surface. The 
management and working ol all the railways oi this country 
lw a Government department would be a still bigger and 
mine difficult task. 1 rider certain Governments easily 
foreseeable, the advice oi the permanent railway com- 
missioners or managers might frequently be over-ridden 
l'\ the Government, and nothing as a rule would be ,..:<\<- 
known about the difference of opinion. Then would come 
the time of danger to the whole undertaking. The West 
Australian State railways are only a small undertaking 
compared with British railways, but they are rapidly 
.<! as they grow trouble is likely to increase 



THE MIDLAND EXPRESS DISASTER VERDICT. 

I lie verdict returned on Thursday by the con 
jury regarding the disaster to the Midland Scotch express 
"ii Decembei 24 is one winch probably few pecple will 
qui stion. 11 was only after a long adji tin mei t that the 
coroner 'Dr. |. S. Walton), Major Pringle ol the Bo 
had' 1 and the jury v>ere able to resi me tl e investic itii n. 
Though the coroi er had tl e ex] - 1 1 -sisl 1 ce of ' 
Pringle as issessor, the inquiry remained a coroner's 
inquesl and, consequently, the questicn which the jury 
had to determine w 5 the cau.Sf ol the deaths of the un- 
fortunate p issergers. I I e investigate n, In wever, 1 1 1 
tated gi ing into til the circun ; 1 nd causes of the 
accident, and Major Pringle, who \ ill present Ins own 
report to tin Board ol I r ■ . I < ■ \, ili prol ibh have no 
in 1 1 ; 'J I 1 i - in aid ili' ai to those whii hw ere brought before 
the coroner's jury. I'nlike some railway disasters, there 
n - ilmost from the first no mysterj as to the ens,., and 
new point ol importance bearing on t hal 1 ause was 
produced on Thursday. The evidence of the engine 
drivers and firemen was confirmatory ol what was known 
before, but it filled in a l< w more det; ils. The outstai ding 
facts are that the signalman forgot th t the two light en- 
gines were standing on the mam line waiting the signal 
to pun eed. that he .a - , pied the express and lowered the 
signal for it. and thai during the time oi waiting the 
drivers of the two light engines did not think it 1 ecessarj 
in conform to Rule --,-, of the r; ilwa\ company by sending 
,1 fireman to the signal box to remind the signalman that 
tie engines wen- waiting on tie line. According to the 
drivers, it has not been customary to do this in the case of 
tight engines, as when they are kept waiting on a man: 
line (a- di : in in -In 1 1 1 1 on 1 a siding) tin a are 1 sualty w ithin 
a few yards ol thi signal box, and in lull view of the signal- 
man, tn this case, unfortunately, thej were some distance 
away, and the signalman could not see them. Perhaps 



]M 



I9II.] 



THE RMI.W VY TIMES. 



3 ' 



il"' facl ed thai 

an 1 v 1 which pas ire thej dn 

on to the main line was the Scotch 1 xpn ?s. I 

they had not made that mistake they would have b i 

id would h; 

to the [n "in 1 i iber .;: we dis- 

possible u 
future, and we mi of M; 01 r 

who, after his o\\ 
will doubtless In- in a positii n to rei 

ie\\hat 
superfluously, suggested that the Bo; d ol I 
make such an investigation . 1 d 
thai lighl 1 
wail opposite thi 
one w ill ol' rhi 

the starl hi 

mory. In considi 
how frequenl it may be said 1 
poiai- 

h mtx i' to di 
at tin 

a few mint 

omission, or, it not, only a 
Bui in certain circt n 
■ 

ill. .rally culpi ' .will 

mind thai if the lighl engine drivi 
I to Rule 5f 



Weekly Traffic Summary. 

1 .1 Januai ; 
lly publishi d fty-two prin ipal 

the I ■ ited Kii gdom mounte. which 

"ii 21,543 miles, being at tin 6 6s. jd. 

per mile oi line open F01 1 onding wi ek oi 

with 2i, |').s mih 5 open, oi . I'here 

was thus an incn 

e of 5s. 8d. in 1 
nile. Thirty-six of the itinguish bi 

the receipts from 

shov\ an im in the 

■ 

1 iw ing to the 
three 1 ondon tub ys, the 

streel and Waterloo, 1 1 ■ i 
v i.l, and G fsot thern, Pii - 

Brompton Railw I Electric Rat 

the in. 

, 5| to 52. 



' South Western K 

pany : - fill the 

1 - Hart. 
Rhodesian N;iil»;n>. 1 

taken Sakania, the 

fir~t statii m bi \ ond the ( 1 iihva\ 

Junction Railw ay. Train* S 

mi all 
Stations in Rhodesia, ai 
similar arrangements in 

villi- and th. - 
will, TheiStandard reports 
it will In possible to bo >k ri-jhl 1 

I 
1 I . r u i> v'i 1 1 ,402, as atj; 
■ 



MONEY AND STOCK 
MARKETS. 

1 
I 
I 

Bank 1 . ; , the M 









.... 1 






' 


.... 1 




. . . . 


















• I ibiliti. 
Bank Rate* 

( onsols 

^change 



. .. .. Jan. 

:, .. .. Jan 
A ., ., Mar 

Mar. ! 




Bask Km 



•i ',', 



Zh percent. Apr. 14,1909. 

3 .. .. Oct. 7. 1909. 

4 .. .. Oct. 14. 1909. 

Oct. 21, 1909- 

4l .. .. Dec. 9. 1909- 

4 ., ,, Ian. 5. 1910- 

3i .. ,. Jan. 19. 1910- 



17. 1910. 
il .. .. lune 
3 .. .. June 



I he \ ieu taken last iroximation ■ 

Market Rati I ikeh to be 

reduction of the latter 
li is been justified to a certain extent. Mario 
sensibly higher, and the official minimum remains 
nged. I he Resi higher this wei 

. for although ,/'.s 10,000 w as lo 
..I gold, the active note circulation contracted b Q 
.iiid coin came in from the provinces to the tu 

Public Men.. si- ,, t | le 

interest on the funds, an 
down. Government Securities show di line of 

The market has redeem.. 1 lis indebt. 
to the Hank, the extent ..I" which is mens 

Other S 
the I. .rmer have 

week's decline hem- £8,969,1 I his is not 

dering the ■ i,- and tin 

demands of the tax-gatherer in the fii 

pinion is not in favour of .lis. 
much advanced in the near future, but the requiremi 
India, Argentina, and other less 
■ :sil\ mi iilh \ this opinion I" 
I In t 'ontinental 

likely the Bank w ill be able lo set 
the new -..lil . oming into ti 
reduction in the Hani I 
within a few week,. 

.1 
favourably to holders. 1 , 

Canadian P 
the Board to place that • 
is discussed at 
■ 



3^ 

ml li 



THE RAILWAY TIMES. 



[January 14. 191 1. 



North British Pref.( Ird. | 

Do. Def. Ord ; 

North Eastern t ons 
North Staffordshire i 
South Eastern .... i 

Do. Deferred .... i i 

I. hi Vale ii 

1 'olonial Railways. 
Canadian Pacini 
Grand I i imk oi Canada I 

Do. 4 p. c.i 

Do. 1 st Preferi n 

Do. 2nd Preference — 

Do. ird I 'i ereni 

A merican Railways 
Atchison G unmon . . j 
I '..ill line : ,"nl < Him . . 1 
Chesapeake and ( Ihio 



,-jll nul l)i surprising il a further substantial N'a f£ 

,1 .• ■ , ,..?., 1 ;,-, ii„. ,,,. , ,- frti,T-i \ Hull I Barnslei — 

increase in the price is recorded in th( neai tuturt. - Lm p 

word 1 ! warning in this regard, however, ma\ not be out London B[&St 

,,l place. Canada has been receiving mone\ for invest- Tl ,, Deferred .... i 
ol various kinds to the amount oi £5 per London Chat. & Dover I 

head ol the whole population, man, woman and child, fur London & N. Western il 
five vears, and should tins stream of new capital L ™ don D * | *'%*«* , 

be arrested, the effort requ.red to pay interest and Lo ndon, Tilburv &c. - 

dividends on the huge amount now held b\ investors Metropolitan \ 

outside her territor\ without the assistance of further Metropolitan.Distrid \ 

inflow of capital might temporarih arrest her commercial Midland Def. Ord 

and industrial progress, and serioush jeopardise the 

continuance at the present rates ol dividends even ol such 

j prosperous undertaking .is the Canadian Pacific Rail- 

ivav. In all financi ol the other hemisphere the future is 

1 ei largeh discounted. Last Saturday was .1 day ol 

little business on the Stock Exchange, but that little was 

fairly good. Home R;nls and Government stocks were 

firm.' .Mexican and Canadian railways were a little on 

colour and Americans irregular, but the presence ol the 

small investor was clearly to I"' discerned, and an under- 
current m! 11 nfidence characterised the general tunc On 

Monday there was little to justify the promise ol the 

previous week. Consols were dull. Canadian and 

Mexican railwavs were again off colour, partly from the 

prospect of increased wage lulls, but chiefly from the 

prevision of stiff contango rates charged for the carry- 
over. Americans, however, were stroi 

unlets of small amounts began to turn the current in the 

market for Home Rails. This was seen in greater effect 

the following day, when Consols also improved, and .1 

great fillip was given to .ill markets by the announcement 

that the kind bonus distributed to shareholders ol the 

Canadian Pacific Railway will be raised from 1 to 3 per 

cent. The stock rose 7 points on the strength of it before 

closing time, and reached 210J bid afterwards in the 

street. The dullest spot in railways was with the 

Argentine lines, news having been received thai the maize 

crop was damaged. On \\'ednesd.i\ the Carry-over was 

quietly arranged at rates very slightly lower than last 

lime. The tone was generally good. Hume Kails 

became buovant, and Canadas in particular were stronger 

than w .is expected. fhe price again ruse, but Crunks did 

not follow, and Americans generally were lower. fhe 

next da\ the Government broker entered the market, and 

Consols' rose |. Hume Rails again advanced. frunks 

were better thought of, and some activity occurred in 

1 entral American Bonds. Guayaquil ,mi\ Quito Bonds 

ruse 3 un reports that an Anglo-American concern was to 

regularisi Ecuadorian finances. Profit-taking checked 

1 an das, but frunks ruse. Argentine lines were rather 

lower at the ek.se, again upon misgivings as to the 

1 lit 11 hi ul crops. Friday was a day ol buovant humour. 

'1 lie settlement ha\ ing been happily concluded, the tone of 

the markets became rcn cheerful. Government stocks 

led the win ha registering a furthei aclv; 1 the rise ul 

the previous day. Foreign bunds confirmed the confidence 

c.inced, by notable strength in many departments In 

- Rails the ad\ am e was pretty general, but not 
unanimous. N'orth Eastern, tnough still affe ted b\ the 
. ss talk of labour .hlli. ulties or rather b\ the cease- 
less dim. allies oi labour talk ruse ]. I he othei heavy 
knes achanced by larger fractions, Lancashire a\\<\ Vork- 
shire ,, Great Western ', Xorth Western also '.. South 
\ merit an Rails wen still out ol favour, but \ ankees rose 
sharplv, Canadas reached 21 ?|, and I tanks were also 

in dier. 

The principal movements on the week are as follow : 

Same ol Stoi k. Risi . Fall- Name ol Stoi 1.. Rise. I all. 

Brit [ ' ntra! ' , "" 1 "" • 

per cent. .] 



Rise Fall Kami of Stock Risi I 

— .. — Louisville & Nashville — .. — 
Missi mri K ms.<S I 1 xas , 

— New York Central .. — .. ii 

— N.Y., Ont. & Western 1 . . " — 

— Norfolk & Western .. — .. 1 

— Do. Preferred .... 2 . . — - 
I '. ansylvania 1 J . . — ■ 

1 ling Common . . i xd — ■ 

- Southern Pacific Com. — . . — ■ 

— Southern Common . . \ . . — 
Do. Preferred \ .. — ■ 

Union Pacific ; . . — 

— Do. Preferred .... — ■ . — 
U .' I ash — . . ' 

i Do. Preferred .... — . . 1 



- I I.S Steel Corp. Com. 1 
Do. 7 p.c. Cum.Pref. il 

Foreign Railways. 
Antofagasta Def. Ord. 1 

\i gentine 1 it. Western — . . 

I luenos iyres & 1 'acilic — . . 

1 '.n. 'ii isAyres 1 It.Sthra. — . . 

Buenos ■ 1 rn — . . 

Central Argentine .. — .. 

Do. Deferred .... — . . 

Cent.l 'ruguay of Mont. — . . 

( ordobacS Ri is, tst Pref. — . . 

t ordoba ( ent. 1st Pref - - . . 

Co 1 Rica — . . 

— Cuban Central .... — . . 

Chicago Gt Western — .. — Leopoldina — .. 

id repeated Chicago Mil. & S. Paul I .. Mexican Southern .. — .. 

Denvei & Rio Grande — .. \ Mexican Ordinary .. — .. 

Do, Preferred .... 1 .. — l>n. est Pref., 8 p.c. — .. 

lin Common .. Do. 2nd Pref., 6 p.c. — .. 

!>:; rst Preference , — .. .! Nitrate Ordinary.... — .. 

Do. 2nd 4 Preference — .. — Do. Deferred .... — .. 

HIinoisJ[Cen1 r,i! _; . . . . 1 . . I >U>>man( Smyrna to Aidin — . 



BANK RETURN. 

'1 he return of the Bank of England for the week ended 
Wednesday, [anuan n, compared with thai for the previous 
week, shows the following changes : — 



Jan. 12, 
1910. 


BANKING 
DEPARTMENT. 


Jan. 5, 
1911. 


Jan 11, 
1911 


Increase. 


Decrease. 


£ 

;.:i'.ii.i;u'. 
6,904,117 
13,491.340 

.a.ssT 

1 1,707,045 


Liabilities. 

Kest 

Public Deposits 

Other do 

7 Day Bills 

Atsets. 
Govt. Securities 


£ 
1.325 609 

' ,;.t.' 

. 49,202,904 

26,790 

17,309,568 

40,384,888 

20,077,915 

891,000 


£ 
3,451,817 
8,765,861 
10,233,727 

33,233 

15,399,568 

28,188.! !6 

22,567,215 

884,419 


126,118 

0.443 
Deerea-e. 

2,000,000 
12,198,012 

7,451 


£ 

3.779,547 
8,869,177 

Increase. 


•ji.'iii. . •_"-':. 
:1117,11s 


Notes 

1 1 L.U and Silver 






14.338,024 


14,338 'l 




ln.r.M-... 


Decrease. 



24,923,643 Reserve 21.sH9.sl.-, 2:l,4.-,l,o;i l,:.s.-,,s49 

17.54 p.c. Ratio _ 35 40 p.o. H.st |.x. 

Sp.c. Hank Rate 41 p.c. 41 p.c. — 

:t ( [i.e. Market Rate 3;' p.c. 3,', p.c. 



ISSI B DEPARTMENT. 




Increase. 


Decrease. 


£ e 

33,84 1,570 ' .in and Bullion .. . 81.048,445 


£ 
32,015,340 
60,468,340 
37,898,125 


£ 
963.895 

:i;ii;,s:i,-i 


£ 


23,277,315 fciroulation 28,520,530 


622,403 



Do. I ii 'I .... i . . — 

City and I nnclon 

I in in 

Great Central Prc-I — . . — 



! i, i. rred . . . 

Caledonia n 

D m. Ord. 

Do Di ' 



■ ii i ii 

Gt.Ntlm l'i. i.i en. i ird. 
Do I i. ! i "i Ord. 



\n Improvement mi the Sussex Coast. I h, I. Ik and S.C. 
Rail\va\ C'umpam are about ti. earn out works at Barham 
lunctioii whi< h w ill • nable .i din . i jun< tion to be made to th< 
Bigm.i branch, The widening ol tin line to Bognor is also 
i,, be undertaken immediately. 

Institute of Metals. Hie Council oi the Institute oi Metals 
,, |,,„i thai .i l.irc;i un roast has n tenth taken plact in th< 
membership, which now totals ..mi ,,<. members. The annual 
meeting will be held on Jaiutan 17, when the members will 
visit h\ the courtesv ol tin Thames Ironworks, Shipbuilding, 
, M .| I',, ..",,,. , ,,,,.. Company, ilu yard in which II. M.S. 
',,,,,,.;, ,/s.\\ , .a' 10.50 a.m.'. when mm, mi- papers will be read 
l„ |,, |,| .,1 the Institution ol Mechanical Engineers, \\ est- 
■• 1 | nin ,j, „, " is 1.. in- built. I In second annual dinnt 1 will 
1„ |„ 1,1 ,n, thi s.,,111 evening. On |anuan iS, moetings will 
,,„l ais, ,,--, 1 lull partu ul.its in regard to the Institute, 
w i,|, ininis ol api.l'u ation for membership and visitors ticket.' 
IV,- „,M week's meeting, can be obtained ol Mr. G. Shaw So tt, 
Secretan ..I tin Institute, ,1 Caxton House, Westminster, S.W 



January i \ . [911. 



THE RAILWAY ' 






WATERLOO STATION. 

The plan given on tl • 

ructionofthe London and South Western's terminus 

1 difliculti< 
work, it must be admitted tl very 

■ number ol small 
,irs have had to red chur< I ■ 

and 51 "It's the Necropolis station, had to be 

taken down and rebuilt elsewhere, while buildinj 

this h the difficult n had 

■ in any waj interfering w itl 

old roofs with loftiei and » idi 
1 

platforms 



buildii ded up to I 1 

all the platfi 

I- built ovei 
that when thai 

Lds nmtli ol line will thi 

n in a 
similar manner : 
When the v leveloped tl 

■ ill be 

plan from the YVestmii I id the 

tation will 

to it will render - 

from any part "f tin- metropolis and it- suburbs. 




Fig. I. — Exterior of Southern Extension. 



m all. were ; foi the 

plannii rhead work i.- no child's 

play wl cngst whom the 

1 hammer or even "t a rivet I have 

unpleasant and costl; 

n which tl.' 
up t" 
time I 

any 1 ive plan until 

terminus w . en the mam 

was opened with three platforms 
beiii-; added on the north side som 

prus " station \\ a 
Xortl; - 

whil ■ 



1 1 1 
const! 

southen 

d .mi ill.' : 



34 



THE RAILWAY TIMES. 



[January 14, 191 1. 




I \M VRY 14. [9II. 



Till R \II.W Vi' TIM] S. 







Fig 3. — New Booking Offices and Concourse Leading to Platforms 




Fig 4 - Part of the New Train Shed and Platl 



5 6 



' ■•■ been provided al the ends oi the new lines. I hey 

1 pc « mIi a (.oo ton train m iving tl ten 

miles an hour. 



THE RAILWAY TIMES. [January i 4 , 191 1. 

STATION ROOF AND BRIDGE WORK. 




Fig. 5. — Plan Showing Previous Extensions. 



leading to the frond ol the new offices al the highej 

level. Underneath the passenger subway there runs 

the distribution oJ luggage, and an lerni ath thai again are 

the terminus and powei t ition "1 the Water] md 1 ity 

Railway. These hid to be kept working without inter- 
mission, and were, moreover, greath enlarged. On the left 



pproach road lio\i Fi is laid down V. a " onl,!1:i meeting nl 1 In Institution yj ( ■■ I i 

s uthern wall, the entrance from the West- ' ! ' lu( ' slla . v ' Ml - Alexander Siemens, president, in th 
'•" I Brid , Ro , wide road under iron girder: ' ""|,: i: '; ',!.' v "^'"^ V'"" " ■" * "', 

Is lined vuthgl «d brick , ' ' ^T^l 

u.i t.c.i 1 1 . ■ iiow 

1 ■ f -Ni n StP.v ; in 1S52-3, is il i 

prototype til nj; over CI C"i 

s .■ gii der tvpe, ol pai 

the Hoard "o ['< inqu into 

tin failure of one ■ Chai ing Cross r , it w is 

deemed atlvisable, is a precautionars measure, to li\ auxiliary 
lie-bars to tin prim ipals, i -pe ialh .is the) 

1 construction than , Ii I hi 

stress in the main tie-rod due to dead load, painters 

liny, .ii"l .1 In rizoutal wind-pressure "I 40 lbs. pi 1 square 

foot, was (1.0.3 tons pei square inch, whilsl tin corresponding 

sin-- in tin arched rib u.i- 3.07 tons pei squan in h, and it 

was therefi ire considi red 111 il the formei aloin ni 1 1 

\uxiliar\ tie-bars wen iccordingh fixed to each principal, 
scaffolding, suspended directh from the arched ribs 
y a ii' ropes, so as to .avoid .ill interfereni - 
1 'iii ,1 tin liin 1 ieIow. This scaffold- 

is on Kc.l I- -1 ward from pi int ip;il to pi e work 

proceedi d, \\ ithout being lowered to the platforms. In 
to avoid placing additional stress on the existing tie-rods owing 
in , In wi ighl ol the scaffolding, tempi rarj st< el 

I the principals and sir. mounl 

which counteracted the effect on the tie-rod of the weighl of 
the .sea Holding, lhe auxiliary tie-bars were forme'd 1 I two 6 in. 
b\ ! in. steel bars pi iced on edge, and in qrdi r that a certain 
definite amount ol 1 .'li.'! might I" given to the existi 
.111 initial stress was put in the auxiliar\ tie-bars, and accu- 
rate!) measured by means of calibrated springs. While this 
work was in progress the principal was lifted and susp< 
I ..1 nl its bearing by mi ans ol .1 di rri« k, so that the full 
■1 . - - might be developed in the tie-bars, and not 1 
bsi rl...l in tending to draw over the he id of the column 
1 .n which the principal rested. The new tie-bars were se ureri 
in tin existing principals by means ol .: in. diameter pins, 
1 hii ii passed 1 1 , 1 , iugli the -In., .it the rool prim 

l"m -ei mi.! paper stated that the I., niton and North VY< sti 1 n 

!?.ailwa\ Company's line, over which the hi iv\ traffic p 

1 etweeii Liverpool, < ...1 stun, and the Main hostel d Y01 kfhin 

, crosses tin River Merse\ al Warrington b\ .1 girder 

ridgi nl 1.S.1 ft. span, erected in 1*53 from designs b\ thi ' 

Mr, |i hn I isti 1 . I he bridge fornn rl\ 1 onsisted ol thn e main 

girders, with a suspended timber flixir to wliich the perm; il 

wa\ was directh attached, and as the working ol the goods 
; .inn in 1 1 -.-ii.ii, ,| tin usi of a heavier 1 Ins, ,.l engine than had 
hitherto been emploved, it became necessan to strengthen the 
nil 11 the same time to widen it, so .is to provide the. 
learanei between tin girders required b\ the minimum con- 
gauge. \ .ni' us schemes far this purpose were con- 
.I.I..I, bearing in mind the necessity ol maintaining the ra'l- 
1 1 is, the bridgi , and a\ oiding interfereni - \\ ith 
.ii below. Ii was ultimaleh decided to substitute new 

girders connected with the top booms of the new girders, to 
1 msfi , i,. the latter .1 portion of tin 1< id that would . tin 

In tin centre girder, which was ,ilr. ad\ ovi rl. idi il 
■■il Hi in- « as als ided. 

rrving out the vvi rk is perhaps the 

-1 ealure. I'his was :n 1 omplished In fi 

Ii iny 1 in nl the lines over the bridge, and en 1 ting tlie new 
: in the existing floor, ill traffii being meanwhil ■ 
tin r lim . \Ii.t ih. first girdei h 

of tin in Fig ;, the. .Id 1 1 s soon ii ^ of pleteil, the portion of the floor on which- it was I 

'in I.., lhe northern extension ,.) :,w;lv . r "id ,hl "'<■! '■'" girder was removed in the following 
1 , I bee,, taken „, „ ivc '»■'.»» " "1 «•'; pj"«-d "P™ ' ■' ■"'•;■ ' ' ' 

,,, , 1 i,i 1 , 1 , , , , , had been bud , were il. ited undci n< ill' 

"f the w«,ik involved in d, mantling the old and ltpr lhr r ;.si n g t ; 

'"'l'i" Hit' north end ..I the now then pulled on i'o i< , 

1 mud. In ., I,,, . m ■!-. , ,, il : -i I'ln 

new I .1 phi. ed in il final ] -i'i' n, and tin 

„ ., first ' I new steel 11. 1 ■ 
Canadian Railways and Cheaper Freights. \\| ,.., permanent 

eased t hi In ngthi n.-d p rtion ol tin bridge. '1 

. . \\ ' had 1 «!'" 

I ' • ' . ,. i iken relieve I 

1 runk P - ; . , ,, ensure that 

b\ until r no ci I bottom 

inch. 




Fig 6.- Erection of New Building Oven Old Strui tun 



I \\i vr-j i |. 191 1.] 



Till. RAILWAY T1M1 S. 






SIR BRADFORD LESLIE 



- ft 

Mi I K ft 

< 




Sir Bradford Leslie. K.C.I. E. 

I 

i 

I 

- 



I ! 



DEVELOPMENTS IN SOUTH AFRICA. 

- 

■ 

■.ill result in 

. Railwav \ 

ni .mi appii In 'hi' 

i 

In tin II 
total >■ M 

• thf i.iiili in tin < 















A PARIS ELECTRIFICATION PROPOSAL. 



i 

Hull and the Ureal Central Propos il 

I 



5 8 



THE RAILWAY TIMES. 



[JANUARY 14, I9II. 



CORRESPONDENCE. 



At K)\IA I U SIGN U-S IN VMERICA 
/ „ //, Editoi <>/ J ill' K mi i\ n Tim 



would serve to emphasise the ruli itself. Where absence of 
human habitations is the rule, traffic is correspondingly light, 
and single track prevails. Per contra, it is only in thickly 
settled areas where, as .1 rule, railways of two or more tracks 
encountered. Here, again, we see that scarcity of human 



Sll; , one of the most misleading and surprising statements habitations means absence of automatic signals, and that 



which 1 have me! in the course ol my fifteen months'ousin. 



1 111 1 in r. hi 



s h ibitati 



iplexily ol traffic conditions, and short 



VV. II. Dammond 

(ol Detroit, Mich.). 
S6, Li - Hill Street, Sneinton, Nottingham. 

J 1 n 1 1 . 1 r\ , 1 1. hi 1 i . 



THE KEITH ELECTRIC VENTILATOR. 

I he diffii ultv of securing a continuous supply of fresh air in 
active circulation in carriages, deck cabins, or the roof of a 
: - building, without creating local draughts has been solved by 
, the Keith-Blackman patent ventilator. By means of this 
r aparatus an even and continuous distribution of fresh air is 
nil!. nn. J throughout the carriage, thereby adding considerably 
1,, the comfort ol the passengers, particularly in smoking and 
dining .saloons-. Eor ventilating the kitchens on the trains the 
Keith-Blackman ventilator is. also eminently suitable, as it 
effectiveh removes the fumes, etc., and periodically changes 
the atmosphen in the compartment. I In ventilation of the 
carriage is not dependent upon the movement ol the train, 
as the effect is produced by mechanical means, and the circu- 
lation ol the iii is obtained irrespective of whether the train 
is in motion, or in which direction the wind is blowing. 



whir 1 1 i\ i- iii' ' in ui'* 1 1 ilii si- in 11 1 \ in n i ii 11 1>" " "^ " u '"" . , , ■ ■ . • , . . 

, K, , ,Uan ii,.,; .In- growth of automata signal- intervals between railway stations are expressed ,n Amer.can 

,!''„ , 5 is due to the presence there of long railway stgnalhng by automattc block stgnals. Fornon- 

X "v Ikies hr u-h countn onh sparseh populated. A automatic signals exist on oyer th.rty-e.gh thousand miles 

Brlh - .t has written what is 'perhaps the' best work on *ngl. track in America, while the same kind of signals exis 

c'lagnalling in the English language, and this excel- on less than ten thousand miles ol American road ol two or 

i. n nl\ contains this error, but quotes one ol the more tra 

i-ers , I thi' Belgian State railway s .is being under 
ii,, sani(Tfalse impression. Since this perfectly honest mistake 
has mil. .ii iin.it. 1\ enough, the sanction ol such justly cele- 
, 1 Luthoritv, 'and 1 xercises .1 verv hurtful influence, I hope 
vou will permit me briefly to si it. the real facts and 1- give 
some offi. ial figun s in support ..I my assertions. 

I - Belgian gentleman says: "In \menca automata work- 
,„. absoluti 1\ necess in in certain cases, be ause 
it 'is verv difficult to find signalmen who are willing to si v 
in cabins which are far away from am human habita 
etc . That is, this supposed difficulty is one of the_ reasons 
the existence ol :1m large amount -l automatic signall 

1 ,i t ed States. All this is purely mythical. Hie real order 
been as follows: Hrst, the ra I way 
without any form ol block signal, and running " in. away 
from an\ ' human h ibitations." '1 hen sui h habita 

, |: , 1 . 1 theii ini rease produi e 1 .1. nse. railway traftic, 
block signals first appeared. M ibis stage ..I the development 
,;„ signals were l..r from human habitations and were, o, 
, not automatic but operated by signalmen, l-mally, 
,1,, territon along the railway became so thickly settled thai 
traffi, di nsit\ 1 normously increased, stations were spaced at tai 
shortei intervals, and the number -I signals had to be greatly 
i .creased. In. .1, ami not until linn, was the primitive non- 
lutom 1 destroyed. Then, also, the safer and (on. In 

, .,,.1 . 111S ) cheaper autom itii block signals first put 

in theii , , , 

M, )rL . 1V< 1, this .1- celopim nl 1m- 11 .1 Ia any means 

, ,| ,,,-der, taking the I ivited S s :i 

wh ilr \i ithi 1 Engl m 1 ■ the Continent 1 .m show mix 1 nlway 

wstem I -/.1 ol traffii , . loseness 1 I stations, 

or complexiu 1 I operating itions exceeds that ".sting 

Equally great mil. igi in the I nited States .!,. I Inla- 
delphia ...nl Reading and the I Central being instances 

condition. \l the sam. time, there are ai 1-' areas 

over which primitive conditions still exist. < >t course, the 
o-ener .1 rule still is that far from human habitations there 

e, no block signals al nl or there an ly manual 

sig„ ,l- ; while automata signalling is restricted to what may 

|, 1,, styled Urn " English" railways which haw been 

laid down n, \merica. In other words, as a rule automat-. 

..i.rnals al.. am. I ulna.' conditions an- practically the same is 

,-ming throughout England and C. ntmental Europe: 

and .nia, no block signals a, all, or, at. best non-automat., 

a. .„-,, ih,. ,,,!,■ in ilia very places m which thesi abl. 

authorities' siatemeiits necessarily loeat. automata agnals. 

I [,., ul,, I figures a, hand an corrected :■ 

I ,,,,, ,,-, v I i 1 . ■ lesson these l.gures teach 1- given all tin 

more emphaticalh In m..n rece.il figures which, 1 regret t, 

. r , I h iv- Mi ,,1 home. I lam give hgures for six American 

,, tvpi. -I in this respect. Will, a .single excen. 

,■„,„, i-xpre-sly noted, ail the figures given in this letter rele. 

n ,re trai k> : .... 



iteil 




Si./iials. Mil. 



' 
I 



n.,1 . Mil. 

i^8 



OMwaM * M I I TPffll i* 



.... 
ai 1 



I I,, ,,|,|, 1,-atus consists of a small Keith centrifugal Ian, 5-in. 
diameter, dire tly combined with an electrically-driven motor, 
wound for a low voltage circuit of about 20 to 30 volts con- 
tinuous current. The consumption ol current is small. The 
motor van lie supplied either semi or entirely closed, as may 
.rmuped in this table the figures strongly lie required ; the latter being desirable il working in fume or 
f 1 ,",!,,,,,, a I nil trying to correct. Bui steam-laden atmosphere. Surrounding the motor is an orna- 

, ( ,,alh dis'n I iroupany .air..: mental casing of perforated brasswork, which allows free 

I •• | ,.| ,.,,._ with an\ ..in' ..I ih'' ih"'' "I air to tin- Ian whilst enhancing tin' general appearance ol 

in ,l ih, .,-,.. nl, ' II still illustra' tin interior. 11,.' fan is arranged to exhaust int.. .. specially 

, , ^ I,,,, , , „ n T,:iii', .1. Whereve. " Euro designed cowl discharging into two channels, which an- s,, 

exist, wi find i-onstru ted that there .an be no hark draught or ingress ol 

l |ll ',' |||]] |i( -',' I ... 1,,,, w! wi.l'iK depart from rindirs 01 smuts when .1,.' fan is nut running. The whole 

that w. ha\ .-automatic .signals. arrangement fits snugly in a porthole in the roof of the coach, 

,av, span in which to and tin method ol fixing , is by a few screw* which securely hold 
ruli -si.'l. ' \ceplinn- ila appai .Uis in p isiti„n. 



|.\M \KV I4, 191 1.] 



Till KMI.W U I IMI S 






tures ol this apparatus 
simplicity , low runn • 

the v< hi( le, which hitherto proved 
difficult to overa m< , have, by this 

■ 
th<- vitiated rrir through the cowl, at the same time inducing 




Elevation and Plan of Electric Ventilator. 

a suppl) of In sh air viH the ; 1 tures, 

thus effecting a continual change ol atmosphere; i)i th< 

ip in the leads supplj ing th< 1 
lamps, and controlled bj meansol an ordinary tumblerr switch 
placed in any ccmvenieni position. I ■ of the 

manufacturers is al -'7. Farringdon Avenue, !•'..('. 

CODIFICATION OF RAILWAY LAW. 

The subject of railwaj law in various aspects has lonj 
a complicated and difficult one, and has yielded .1 rich I 
t.> lawyers. Phi n< • ssitj fi 1 simplifying the law and bring- 
ing order out of chaos is widelj admitted, so thai considerable 
interest attaches to an article from ;t correspondent which was 
published in the Times <>n Januarj 6th. Some ol the points in 
the article are here reproduced. 

ler al the beginning ir 1 lilwaj 

system nor at an) time since has anj attempt bi 
draw up .1 code ol law defining the duties, rights and obliga- 
tions of tradei s an< I ely. 1 he dei isions 1 il thi 
Common Law Judges in relatii ■ ' vans 
■ roads and l>v barges on the canals had created a law 
of carriers which was deemed sufficiently suitable for similar 
traffic upon the railways. Winn it w j t ^ found thai coals were 
required to be carried i>\ railwaj and, rdinary still, 
"even horsi - and cattle," the judge-made law »a~ found to be 
inadequate. 

K ■ t . 1 . i . ■ is made to the numerous parliamentarj inq 
on thr subject and to the number of Acts which havi from time 
to time been passed. Some of the- Acts havi 
some amended bj - ithei \< ts, and 
numh. 1 ' . mplaint is 

the expi he Railwaj Commission. 

a full hall ■■ attributed to the fact that the 

law upon all the more important points is scattered throughout 
the Acts from i.s, y where diffuse, un- 

certain, and ino nsistent. 

- under various \ w the 

difficulty which has been 

ng them and coming to useful decisions. Vnother 
ground for urging I 11 amendment of existing law is 
upon the fact that although the respective rights ■ 
and traders were fully appreciated in principle when thi 
Vts were drafted, th< pre • is. natun th< difl 

solution could nut then be anticipated. II 
general railv ' • 1 .1 . . . 



; « ill run thi 
on th< 

lion with traders 

inronv 

and no new provisions provide- for alii red 1 ii 

u Ik nevi r di 

on their ow n rail 

. what 
the law ought to b 1 mine (he 1 if 

the p. 11 iii s bj di ling . ioli ni 1 

with refereni ipposite 

osi now prevailing. 
A^ ii is with conditions, with trucks, and with 

(lie mass o| the traffic and regulation \cls. I 

inder which their chargi 

in a si ill gn ■ 

the late Sii < "oui ten ij Boj Ii in 18 .1 rk then done 

affords .1 brilliant 1 s 

a result of the thoi h this 

work w as condui ti | lerfectly well 

twenty years' rough usag 

ion has can 

a faliul 

cixlilication and ami ' the traffic A. is r<-| 

~s formidable task which Lord Balfour and 

S ' cessful all 

there is no necessitj for hearing voluminous evidi 
considi 

iders. All ' 
acc< pti d, and ii is onlj 1 . plain 

ige and removing the • 

classes ol traffic, even 1 lass nl 
as to « 

section was prepare d to > 
interest. I lence 1 > 
own position to the ful 
try to allow 
The agricultural traffic is ry traffic of 

the country, and it equal 

in land were w i 
d with due regat ,uld find 

■M<' difficulty in preparing .1 
reason ib I 

might then I 

submit the mi 1 

modifications as th 
soni,- similar method, the law ■ 
upon 
as has 

In "l cench Railways," 

- 
systems in France, theii 
engine tj pi - 

mac-hip. rj . Mi ssi s. Smith, Klder 
volume ready in about a 

Schmidt's Superheating Co, (1910), Ltd. 
Schmidt's Superheating Company, 1 
owing to the large increase in the 
have In ni n 

1 

companj h 



4 o THE RAILWAY TIMES. [January 14, 1911. 

MEETINGS AND REPORTS. FORTHCOMING dividend announcements. 



Jan. 
Jan. 

|an 

|.M, 

|an 

|an 
|an 



1 - b 

I 1 I, 



! 
I < I 

Fi 1 

I 1 b 

/,■, ; 



FORTHCOMING MEETINGS. 

South Indian Railway (Extraordinai ol, 

York SI rei t, West min tei , S.W., a.1 r. |o. 
trs.). — Metropolitan Railway ol Constantinople (Extra 
ordinar) |, - =, Bui kit i bui y, 1 i 
Metropolitan Railway (Half-vearh . Liverpool 
Stn i Hotc I, E.( -. .ii i-'. I ollowed by 
an Extraordinary Meeting. 
London. Chatham and Dover Railway (Half- 
yearly), Cannon Street Hotel, I I ., .it i. jo. 
j; tin. i. South Eastern Railway and London. Chatham 

and Dover Railway (Joint Hall vearh 
Meetin treet Hotel, .it i _■ 

-7 [I i . South Eastern Railway (Hal i irl Cannon 
Hoti I, I'.t .. .it 12. ;o I ollowed b\ 
a Spei ial ( leni ral Meet 
;i [Tui .). City and South London Railway ill. ill yearly,) 

ti. Finsbury Pavement, EX., .it 12. 
;i (Tues.). Great Eastern Railway (Half-vearh Great 
Hoti I, E.( ., .it 12. Folio 
Spei ial ' ■■ m ral VIi i ting, 
i i II i </. i— London. Brighton and South Coast Railway 

(Half-yearl; I Ion I Iridgc Terminus, 

a1 ti. Followed by an I tr; 
Mi el 
Central London Railway (Hall eearh , I 

E, staurant, \\ I .. .it u ;o. I ollowed b\ 
.in Extraordinary Meeting. 
j (Thurs.). London. Tilbury and Southend Railway 

vearh I, |i, I rinitv Square, rower Hill, 
I i . ,.i i i. I oflowed bv .in [■ xtra- 
ordinan M'i i tins: 
7 {Tin .).- London and Blackwall Railway (Half-yearlv), 
i ; , l-bn Street, < inn In ,1 Friars. EX., 
at . 
S {Wed.). Hull and Barnsley Railway (Hall-vcarlv), Liver- 

1 1 Mr, el Hotel, I i , at i 2. 

rimi Midland Great Western Railway ot Ireland 

ill. ill vearlv), Broad torn rerminus, Dub 
1 1 1 1 . .it i. 
in (Fn.). London and South Western Railway (II. ill 

\\ ati rloo Station, at I 2 
i| {Tues.). North Staffordshire Railway ill' 1 ' 



\\ . givi below tin dates on which the principal railwaj lpai 

noum i thi ir Di\ idends . 

C o m i "Date, 

i if and : outh I ondi 

hi, in 



l in 'l.i\ |. ary 1 7. 



Midland Grcal Wi tern 




17. 


1 ondon 


Wednesday, 


18. 


Dublin and 1 tern 


linn : 


i" 


London 1 ilbun and Southend . . 




In, 


Barrv . . 


Friday, 


20. 


Greai Eastern 




20. 


South Eastern 




20. 


Soutn 1'., itert "..mi . . 




20. 


hi, and 1 orkshire 


Monday, 


2 | 


outh Coast 




- ;. 


Metropolitan District 


1 Inn :day, 


2(). 


Gri at Central 


1 riday 




(,n .,t S'oi thci 11 




27. 


( ,1, .it South, in and Western . . 




27. 


1 ,ond, hi and Sout Ii \\ estei n . . 




27. 


N01 1 li Eastei 11 






North Stan'ordshire 




27. 


. . 




27. 


1 -ii \ ale 




27. 


Hull and 1 larnsley 




SO. 


North London 


i Inn jdav, Fe 


In u.irv j. 


Midland 


Friday, ' 


;. 


Great Western 




8. 


London and S'orl h \\ estei n 




8. 


Furness 


1 hin id; 


y. 


1 iiinlu Lin . . 


Wedm iday, 


15- 



iris, Traffii Uelm '.uses, and all other items of financial 

//./(' to the Editor oj 
I'm- Ifiimn 1 Street, London, 11'. C. {Tele- 

, Altimetry, London.) 



INTERCHANGE OF TRAFFIC ARBITRATION. 

I . 1 V.1I.1 l\ rill \\ i:\andra D01 KS. 

\n in.'. • npen, il on l.niinn 10th, n, the 

\\ ., , l'.,l.,: , lb, el, London, brfi'.n Mr. Butt, r\\ th, 

I I \ Me Ruilwax t ' .. anil (hi \lex 1 ult 1 

: |) Co". Tin qui .,1 II til issui 

arises out I 1 Ul )u 

ll„ in- before Mr. |u slic, Hamilton, the 

\li x'amh 1 Duck Co.) 1 iaiminy In, in . . I 

\ .1I1 Eaihv ,n\ u|i\\ ,n >\- >\ ,■ ,' , , 1 sum u hii Ii, ii 

isri ol tnillii ,n thi 
I li,' '] all Vale R 1 Iwnv, ,,,, Ihe olhei hand, 

under tin 

-,,m, ,un, , 1 ["hi- 1 Is 1 tune before tin Vp-peal 

1 . propel ■ fin adjllst- 

I'he re prh ate. 



I.\esi(-hl lests i"i li.illu hmployees. On tin subject .,1 e\c- 

iirh'l mid !n ;il n K, whii ul serious 

I , ,,,.,,( mimittee ol the 

is il\\a\ s, i-Viinl , Ii led In pla, 1 

., IV sidi ill ol lie Board ol I net whal is believed 

,:■-!,,, ion si In in I '1 lh< in v\ 

I houlil In uniform and 

flags, .ni.l lamp- 

I ■ 

appeal In .'111 expert 

. ,11. 1 provi .1 to 
I !■> 1 , unim .1 



DIVIDEND ANNOUNCEMENTS. 

North ixn Sot in West Jum nox Railway. — The directors 
1 . 1 ..iiiii. 1 1 . 1 .1 dividend ul the rat( ol per cenl pi r .annum, 
carrying |,„- u , ni | £.'1 

l!ii,,i;n 11 I ) un\ Company, Ltd. \n inn inn dividend a I the 

I, lie 111 I, pel 1,1,1. per .1111111111, tree ol i 1 II i '1 1 1 e-1 , 1 \ , ll.ls heell 

dei lured foi the half-Year ended Novi mbi i ..-■ . 

Soi in lh n vr R in way. I he direi toi s propose a dividend al 
i In- i .lie ,,l 5 per i enl . per annuin, foi lln h ilf-\ eat ended 
I >, i emhi i ]i, le.-iviii.s- £ 6,0 .6 to hi 1 ;in 

i l (il UK.l VXD ClRAl VS R Ml WAY. I'llC directOl havi de- 

1 1. 11 eil , urn in dividend ol -.'. pel cent., or 5s. pi 

income-tax, In in— al the rate ol 5 pel cent, per annum, on 
of profits Ii ir the \ ear 1010. 

N atiox ai Pro v 1 xn ai Ban k ' ' 1 R solan d.- — The directors 
have dei hired a di\ idend r cent, 

fi H lie- •. e.n , Mine appt opt 
taken from the reservi fund to writing down investments, 

consols to- ; .in I 1 iiln-i in\ estmenl - to u iiln ,n kel prio , 

there will be j ii tl forward. 

Can vdi\n I'm ii h Rah v, m I In b, tors al Mont- 

ri al, on M i :■ last, di 1 idi d, in view 1 ol thi land 

.mil 1,1 lie other - xti am mis : -, , ompam , 

thai the distribution from Ihese sources, . , uniiii-n. in.- with thi 
pa\ in.y ol tin in ■ 1 ,111.111, rl\ divide nd, will In al the rati 
p, 1- cent, p, 1 annum, insti .,,1 ol 1 pi r . 1 nl is heretofore In 
chiding the dividend from tin 1 its, ,,1 7 pi 

the distribution is thus raisi -I to 10 pei cent, pet annum. 



SCHMIDTS SUPERHEATERS ON THE L. & N W. RAILWAY. 

Experiments ol a most exhauslivi nature have recently been 

I arried out b department ol Ihe London and 
North \\ . st, 1 n Railwai ■ ■ the advantages claimed 

e use of h -I steam in 1 1 

Although wi an itnabli lo publish the ai lual figures obtained as 
|'l ,,l ihesi 11 ials, v\i understand thai tin \ were ..I such .1 

II ituri .is 1,1 w ;n nun ihe beliel ihal in lln ven ne ir future 
dev, 1,-pineiils i,| .hi , pected. 

I In trial runs wen 1 ondui ted over the he n 1 ■■ radii 

id in and North \\ 1 -n rn system, 

me load In ins; hauled b\ various types ol locom 

fitted with tin « ith " i; - ( : areful 

record tin coal and water 1 - isumptiom 

bui --I .1 numb- 1 -I <">lhi 1 fai toi - pi 

., ,.,,1 

lh, , .1 1- 1 We hope 

I ||e I , ;ivi n. '1. I" I l.M I • Ill M -I lln 



I \K\ I4. I 



THE RAlLtt \Y TIM] S. 



t : 



GENERAL NEWS. 



PENNSYLVANIA IMPROVEMENTS 

1 

P R 

I 

I 

Ivania 

5 

rk much hi 
with tl 5 now in use. Thi k road 

this « I 

mile of line. 

rth ut 
R 

-' 



INDIAN AND COLONIAL CONTRACTS. 

Imp 
and n equipment and permanent wa\ materi 

Indian and Col< ni.d railwa) s. 

The Vulcan l""oui Xewton-le-Willows, Lnncn 

fi 1 thLrty-lh 1 

R 
In connection with th< 
lines n the I ■ N'agpur Ra 

1 N'orth 1 Steel Companv . Ltd., 1 I \1 

brough, hav< Is and 

shplates, whil-t the Anderston I I 

Ltd., ol Middlesbrough, Jiave ai steel fish-bolts 

gl Railway Pla II 1 

- 1 
the In Bengal spur Railwav 

Messrs. R. Y Pickering 1 npany, Ltd., ol WLshaw. 

I 
Burmah railways, and Messrs 1 - nmerson and Sun-. 

■ • r 435 points and 32 | 

1 
I In East Indian Railwa) Companv have awarded Me;*rs. 
1 I 

tract ' the Andersti n Koundrv . 

Ltd., Middlesbrough, an I -hbolts and 

nuts : and tn Messrs. Guest, Ki en, 

mingh 1 hair- and 1 

Madia- and S, uthern Mahratta Rail 

M< ssrs. |ohn Bakei and Comp in\ , Ltd., • I !<■ therhai 

(supplying 2-ji pairs ,| axles, whilst for the I 

and North Western Railwa) system the Bla 

I 
manul • x |e S , which 

are required for metre gauge rolling 

mentii r ,|n 

supply of wheels and axles 1 

R and \V. I law 111. .rn, L< slie. 
and Compan' ! istle-on-Tyne, are constru 

lank li 

M( --r-. John William- and S,.n-, Cardiff, h 
tract fur a supplv ol steelwork, wind.vv--i- 
in connection with raih 

value five and six : nunds. 

["he firm have in hand - 

■ rhead tra\. 



CRIIICISM OF MAXIMUM LOADING. 



■ 

: ' I) 

Inn. lh 

emptv 

with 1 

ol lln man. id. ait- uiiii li had happi • 

cently through train- running 
taken place with the gn 

policj that .' d at the tin.. 

when the 
chiell 1 should now be mad. up 

ol all reasonable proportion, and verj often inclui 
ton wagons. The result was that v 

1. Although lh. train : - 
had been scared) am inn. a-.- in b 
Was ii right thai wagons should be spragg. 
were? He wondered it the Board ol Trade knew tin 
which were being run by people in carrying out their daih 
work; it the) did the) might take a serious 
plause. 1 

In res| ending to the toast ol " The R.. 

H. \\ illiams 1 (N.E.R., Hull [} un - 

-t m's remarks about maximum loading, and said that 1 
irovided thai in foggy weather all loads should 
ting the expansion ol the lrad< . he m< 
h • had in tSgo 2, 196,69(1 tons al Mull ; in 191 
00 tons; in 

tons ; and !. 

RAILWAY CLEARING HOUSE PRESENTATION. 

At the Railwa) Clearii Januar\ 12, an it 

as mad.-, when Mr. R. |.' Smith, « 

men! ol the Midland Railwav Company, was presented with :« 
token ol the esteem in which he i- held b\ hi- late colli 

( inmiiii. , the Metropolitan 1 

<>f which Mr. Smith had him a member for main 

The presentation : ,|»d : 

"Presented Mi R | Smitl 

Classification Committi 1 
politan ' |,is retirement, I). 

I here were also a pearl and amethv 
Mrs. Smith. 
In S. E. Marsh d 

for lh. 
Smith'- Kn- railw 

: -. during the last 41 ol win. 
ivith lh. Midland Company. I I 
who had attended 

were ver\ much indebted to him foi 
alwai - -, 1 i,., ||,,. benefit which tl 

a hi- business abilities ami 1 
rett< d thai tl 
pleas: 1 

Marsh, whilst congratulating Mi - 
• \|.r. --. (I ih. hope thai the partial 

regain 

Mi . lh mi . II 

ipanv 1 spoki ■ 

thai Mr. Smith, in the vai 

mind. 



4 z THE RAILWAY TIMES. [January 14, 1911. 

Ui Martin . tin London and North Western Com- ■ had taken tin whole blame upon himself, but the) must go a 

party's Rates Office w ho commenced in tin service ol that , little further than that and consider Rule 55. It was not to be 

ompan\ sum In -i.l, with Mr. Smith, had spoken, Mr. K. supposed that a man when In to k charge of am dut\ whatever 

Sawcrs, late : tin London and North Western Company, who could In in- absolute perfection to the work. There must be 

iti I with Mr. Smith . In 1-1 n - In- necessarily, in the course ol human nature, lapses-, and ii was 

active service, sp ke ol the 01 asioiis when, .1- representing lor the jur\ to consider whether the lapse of metnon was 

heii respective companies, he .m. I Mr. Smith had frequently culpable, or one that was accidental and one that could "not be 

In . n in « 111 tiii-t , I .lit in all tin encounters In li.nl found Mr. blamed in the same de groe. The) most decide whether Sutt, n 

Smith .111 h.r.oi lent, and regarded him as one 1! used due caution in attending to his duty. Under the rule 

in ml-, and .1 gentleman , n win-' word thorough Sutton would have been .warned in time. 

nil. 11 old be placed. I'he jur\ returned a verdicl f accidental death, and added :— 

\| Smith, although suffering from partial loss ol voi 1, "We cannol lull draw attention to the violation oi Rule 55. 

\ terms, and i . '. - - a well-chosen We suggest thai the Board ol Trade should mil., a strict 

spu-h, -tated thai hi 1.1: that in speaking oi him as thei investigation relative 1 to the peculiai working at Hawes [unc- 

e. tin previous speakers had given him creilit fori turn, and we suggest that some regulation should be made 

ine'rii han he deserved, but, however, that might be, he .vould for more effective and safe working, and that light engines 

like to si\ thai he claimed to have endeavoured to ha. , been should start from the signal-box." 

.1 useful business man. Ii was no eas\ matter to leave 1 

business life . .unl. .1- Mr. Sawe ,, hail said, 0. join the 1 

nemploved, involving as ii did the severance from the OBITUARY. 

lions ..1 various meeting; 1 the clas-ii rooms ... 

H » u .' •»«! j \«f ' ' Capt. H. H. Jackson, R.N.R., marine superintendent ol the 

U ':'"\ ■'■ *> m ' ^v<;"ty years and Iron! wh ,1 Gp „ , , ; Compam ,, ,„,,/ . ( , .,,,, 011 

In had greatest kindne -- and 1 nside in ion |-, n uar\ lb fter I n ill 1 

' Mr'. Arthur" James Hobtev. goods manager for the London and 

ad made mm and h.s witi and -aid ha Ihroughoul Ins v ,, ,, , ,, , ,. ,. ,, ,. ,, .. , . 

,. . . ... . " ., North \\ estern Railway C nmpanv at luddorshcld, died s U d- 

ivalch would be a coiist.m remindei f ho-c colleagues ,,,, , , ,, , , '. , . . , 

,,. . ,, ^ anuarv ijth. Mr. 11.. Mm, who was a native ol 

- iow . lln 1 i!l\ ea\ nig. p 1 . 1 1 , ,1 1 " \ 1 w 

Kugbv, had been 111 the service ol the North W e-tern ( ompanx 

; over thirtv-one ccars. 

Sir John Aird, Hart., who died on lanuan 6, at his re - 

THE MIDLAND RAILWAY DISASTER. :l , Beaconsfield, in his eighty-seve-nth year, carried out mum 

great engineering works, both b\ himsell anil in conjunction 

\ .a 1 fortni-ht's ..I,, ,,,,,,,,, hi tin coroner's inuuin is to »ith Messrs. Lucas. His numerous railway conti 

,~ . ', ' ( ,. .',. . . ,- ', , ,, ill.' Hull and Barnslev, Metropolitan and St. lohn's Wood, 

he teat 1 ol the vet mis o the disaster to the - . ' ■> 

Mid'a.nl S-oi 1 exnress ,t 1 1 aw . s 1 unction , ,1 Decembea u ^'veral extensions ol the District, the W est Highland, and th, 

1 1 , 1 1 , 1 . ' u 1, ,' Suak in- Berber railways. He was grandson ol a Scottish wairk- 

iclu I 1 I hursdav. Mi. . S. W.ilii.n wa- lln . ,,-,.,. , , 

mg in hi who lost Ins Mr m the construction ol lln Regent - 

s .drive, ..I one of the light engines into which C:m:tL *» John's father worked as mKasI I omlon stone 

•.In express am, was examined b\ Major Pringle, of the Board '. as "J " s appointed superintendent of the l.reenwich 

, , ■ 1 , 1,1, ,1 ? 1 . das 1 ompnnv and after 20 years in that position he became 

[ ]r " ] ■ ''' -" (i ;: ''" "" ' " n, ^ rhl '" question he ran from ....,..,_ ,,,,, ., ,..„: 1. ,,, i,. t ,.;...... ; ,,..., 

\i-gd! 10 Hawes Junction with another light engine coupled 



I he two engines were I in ned at I I iwcs | 



11 \ on mi- inn -. with Sir John Kelk and M. ssi >. Pelo, I'. 



ui. I Beds \i the age of iS Sii |ohn woi ke I foi his father 

„ or more ' ins to pass " \bout ■ ;>-' a in* in ''" m "" !1 "' "" ( ' n " Exhibition in Mvdc Park, and 

' :!n down" main road, in, ,ghi f' r >) lr4 , in „ lh l " n '"A; 1 " 1 the buildings to Sydenham t rm 

,, opposit, the turntable and waited f,„ ,ln l 1 ' ' : A,',' 1 , ' ' " M ' S "", '' :i >. manager ol Hi, l.rea 

- tl n to Ca.rli-'.e. Aim waiting I 1, \"A '' «■■" «'--'v, "as among those present .,1 the funeral ..I 

mm pull, .1 ih, signal ..II, m. I ' " '''' ' '" '' h:il(,ni ' 

1 ... 1 - k il 1.1; 1 w ..- foi 1 hem to go on to < '.11 lisle. 

I! tin -ign il I. II he In ml - meln d) get o I the 

engines, the second engim Im.l Idectric Railwaj tn Move Shipping. \ ; , ,. .. |, ,1, ,■- 

I: lo lln signal-box. Il was in record; olivi s will be operated is being planned bv tin Panama 

'. men should go to tin signal-box. II, ill Canal Commission to move shipping through 'the Panama 

n, the signal dropped the two light engines started. 1 mal 1. ks. Iwo vears will be required foi the completion 

he) Im.l |. .-- I ihn ugh ill, imni. 1 he heard the drive 1 .,1 1 1 ,.■ undertaking. ' 

ui engim whi-tle. and In lot ked back. He saw tin V Subway System for New York. The offer of the Interborough 

i I. lie immediately put on full steam ami Rapid I'ransil Compan\ to construct a 00 .jh\va\ 

bm in livi 01 -\ ■ conds ihr express ostein has been accepted b\ the Board ..I Kstimai ■ Phi 

bunipe;! Il, was thrown among tin coals in ,.,„,,,,,. ,| i: .i ,| ,!,, scheme is s, js,, :l ,,,,,„ ,. oi which tin 

' mil was stu I He- had never carried out Rule 55 comp.am w ill furnish §75,1 i.oou and the city the bala 

in th, because these alwai- ,top| I.lectiic Lighting of Canadian Cars. lln ( maciian 1 

bul on this . casi he\ were lei Railwa\ Co, is to equip with electrii light ii- new sleepins 

down Ihi main lien lurthn ,iwa\ llehadneve had ccasi. dining and parlour carriages now beng constructed it the 
rule out. An excursion train had pass.dal pain's \ngus Works at .Montreal. I'he Stom s\ stem will 

b< adopt, .1 l«.. -.is of storage batteries are used, and 

1.. K W'orl . in. mm .1 ll -1 lighl engine, asked win dininy nni parlour carriages an being fitted with a sniail 

,iick to tin - : gnal-li , said that they were expect- vacuum ipparatus worked b\ .ni.l.viii. motor. 
■'• go 'ii at im, moment. Hi Im.l nevu goin [nvergarn anJ 1 nrt AiikiisHis Railway. \: publii 111 eiings 

llawr- Inaction. j u .|,| ,),,. NX( ,|, .,, Spe-an Bridge, (i.airle hv, and Invcrgai 

(i. W Bath, I l'ght engine, said that hi- res .lutioiis wen- passed viewing with alarm and ilis 

In-hind tin other mi tin main Hue between ten and proposal to close tin I'nvergarn 1 id l'"ori Vugustus Railway, 

II ' . pass . ii In 1 which he though! and p liti; g the Covernmenl lo grant an annual subsiih to 

was the ordinarv .-xpn \ In- thought of sending 'his enable tin inhabitants ti retain the Use of the lim I hiel, 

■ thai In was expecting wh .1 presided at tin Cairlorh\ meeting, stated that the 

the -ignal ti. : II be grateful to In nnpanv for having kept the line open for 

R I- Olde ' tin pilol engim .1 tin S h so iomg to their loss. If the loss had been principally borne by 

. continuous hraki was i,, „, .-king rdei th- I eh' Lord Burton, unfi rtunateh n iw I. erd Burl n'> 11 ustees 

through tin tunnel In -aw what he thought was could not legallv make good their share of the loss. I'he North 

'I'm.,, lie put on . ; , ' ,:.,| il,. ■. :,..!, British Compaiiv derived indirect benefit from the railway by 

■ '"im.. di.ati l\ . |] H . I, affie bi oiighl over the rest 1 .1 their s\ stem, 

I'he 1 ml mil that lln- signalman dir.cr.ors did not considei this would cover the whole loss. The 

nln, in the inquirv, had onh wav to avoid loss would be to have the line turned into a 

nngines. Mi. quistim, res,, Keel itsell into lighi railway, and to petition tin' Government for .1 small 

e'l nam individual Sutton annual grant from tin Development Commission. 



JANT 



\RV I4. 191 I.J 



THE RAILWAY TIM] S. 



13 



PERSONAL. 



Mr. Mi Clelland inti d .1 Raih 

,,l ih, s Victoi in. 

\|i . I . W. C.irr 
i.l„ \ I Railwaj mi 

Mr. W . Clark, Steel < 

Vicki ■ Ltd. 

Mr. W . Htnr\ Hunter, 

si 
J,.h.;-. ! - ilanciii 

.Mr. George Huddleston, l.I 1. 
waj , 1 ' I I.I I. the. 

R 
by ihi hi late Mi. 1.. II. M. B 

Mi 1. W. Cl:irk mid Mr. V. .1. Nash, 
tivelv, havi 

p ■ . tthili Mr. 

C. E. I ) \ : tary. 

Mr. \V. H. Coomber, assistant to 
ire Railway, 

Arthur Wntson to thi nt. 

Mr. C. I». 1 (imbert, entry 

1 Railway, lo'comotivi 

works 

1 ■ ' 

Mr. 11. H. Clayton, 

: ■ 

includ- 
i Mr. W. 1 1. 



PE<=K ET L %otfOT« ES 

*-*** Built 

Specification 1 1 
PECKETT & SONS. 
3 LOCOMOTIVE WORKS, BR] 



MIDLAND 

RAILWAY CARRIAGE & WAGON CO., LTD., 
Builders of 

RAILWAY CARRIAGES, 
RAILWAY WAGONS, 

TRAMWAY CARS. 
and overy description of Rolling Stock. 

MIDLAND WORKS, BIRMINGHAM 

and Abbey Works, Shrewsbury. 



Mi Hall, 
S.C R 

■ 

Ml. I . Ii. Clink. 

i 
hi> pri\ 

I ■ : 

Great Nnrilii.ru Railwa) Stall Changes. I 

R 
II. \. Bi 1 

I 

11 

Mr. W. I. Carmichael 

I 

silver 

Mr. 
W. Rousi Mr. !•". L. W'i 

i. thai the lai 

1 1 michael said that i 
know 

Id earn away with him tli I 

Royal funs to Son Hi \i nt in Officials. '■ 
s Royal H Duke of 1 

nent House," M ed Mr. 

assistant . 'f rail- 

Cape 'I :; 

R I 

Duke show 

His R H 

! 1 

I ■ 
with his Roval Highnesses' monogram, 

I., and S.W.R. I 

1 

Sir Charks Scotter, H 

I' 

.657' 

S- 



JAMES KENNEDY & CO., Ltd. 

69, BUCHANAN St., GLASGOW. 



LIVERPOOL * IONDOH. t«Ulid 
CWCIMNATt *c . 




SAWN 
TO SIZE 



fchlcpod direct to mi port 
of the United Kingdom. 

soiiCitfif dow for dehvtry JjfU'WJ la c 















Vnglo- Russian Trust. 1 

1 

I ,-i 



4+ THE RAILWAY TIMES. [January 14, 1911. 

da II WAV \fm<i thai .111 . . - 1. ■< •: 1 1. .1 1 had ! into with the Hisjhhint; 

KA1LWAI KU1E0. Railway Cumpam fur the working of the new railwa) durin.u 

a piriixl ol litt\ year- Dingwall's guarantee, ii appears, was 

N.I..K. District Goods Office. On |aiuiar\ m tin onio nl tin given on Lhe understanding thai Dingwall would be the ter- 

w'rth I- i-tt-m Railw n ^oud- managti foi the Vnrk and us, and hefon doing anything further in the matter the 

. ,,, .,. ,,., ;u>rred from Vork to Leeds Council remitted tin whole subject to the Finance Committc 

\ New Line in Shropshire, Fortlen Rural Council have b«".i to sei thai tl ndition is included in the agreement. _ 

, .,, Sorth s !n ; -dm Railwa\ Compaii) thai the; Cathcarl Circle Railwa> Zone Fares.— The improved service ni 

, , nu 1 1 fur the construction of tin branch trains inaugurated on J anuan ables passengers to accom 

,; n , .,', plish Ihe journey from the centre of Glasgow to the mosi 

"Coronation" Locomotive. Crewe locomotivi works intend distant suburbs wilh tin utmost expedition. Zone tickets are 

,,,,,,,,,, 1 K ,tiv, Nu 5,01 1 "< 'uronatiun." 1 1 will be rcad\ valid fur .1 week, and h der- ma\ make .1- man; j >ui leys as 

i„ j um . ;„„] will bc'usVd to draw Royal trains .11 I he the\ please, ll is tin experience oi the officials thai the 

.\ ; | wav , ,,, ,..,,! \ ol zone lit k< 1 holders travel six linn- per day. I he 

Orders at the Argentina Railway Exhibition, h is stated that fares i'iow charged are: Glasgow, with Pollnkshields and 

, . 1 tin British section amounted to between f")uten"s Park zone, fir-l-class, 2s. per week (a reduction of 6d.), 

I r, O ;o 000 One British firm obtained an third. 1-. id. (a reduction .if ;d.l; Glasgow, with all stations 

,7,1,', ', .;,.. lucoiiiutiv'e'- « ' cirri . first, ■- 3d. la reduction of 3d.) ; third, 

An Order for Locomotives. Hn Polmadie branch of the North i>. (vj. (no ilteration). Man\ extra trains were run, tin total 

Briti-h I ntn CompaiiN has received .... order foi fiftv number going each way being .00. Travellers who have onlv 

[••,„ isidi riibli titiie i In- empUivi es in man\ an houi lor dinm r are enabled to go home comfortably . \\ hen 

ra«e- hav. been workiim onlv five days a week. it is considered that the average number of passengers carnei 

Contracts for \rgentina. Ii is stated thai the Central ( '. rdob 1 b\ eai 1. train is 500, and thai there are 100 trains ea< Ii wax per 

Railw;. \ < iimpanj have recently awarded contracts for thirty- day, all idea ma\ be formed of the large number who will 

f iv , |, - irious types to fames Kitson and Sch.j benefit b\ the concessions. 

I :,„,,,. I ,,| |«. e d- and for ;"i 1 freight wagons to the Metro- \ London Bridge Collision Report. The Board o I ["radi report 

nolitan ' \m-il'-amau-d Railwa\ Caniagi and Wagon Cum- on a collision which occurred at 1 1.30 p.m. on Noveml be- 

[.imited. Saltier, ... .. Birmingham. tween two passenger trains at Borough Market Junction, outside 

Permanent Wax Institution. The annual dinner ..I the Per- of Loud iridge Station, when nobodx «xas injured, observes 

nan , ^ ,. Institution will take place on Saturdax evening, that the driver ..I the Charing Cross to Dart ford train stated 

I [>iUar Hall ol the Victoria Station Restau- thai In reduced his speed from Uventx miles to twelve or 

,,,,, s .j. : in ,,.[,. K . I , rin chair will be taken bj Mr. fourteen miles an hour, and did not anticipate am difhcuity 

1 \\ 1 m t, H id chief 'eii<nneei ol the London and South in bringing his tram to a stand, but when he applied his brake 

( v ,;\; ' !<.,■, ! " tl ich-wheels xxere locked, but not thos, oi th, engines, 

The Removal of the Wrecked Midland Engines. Tin four and the train slid slowh pa-t the signal post. Maj'0.1 Pringli 

en-ines dan I in the collision al \ : -^ill were temporarily savs thai he has formed the opinion that the tram », travel- 

,,,",,,, ... n.l'removed ti Leeds One or two ol theloco- ling considerably faster ; .also that, for some reason, the braKte 

I,,! ,'V.J ;: ,l not travel until nexx wheels had been fitted. was nol used s "x,n enough to check it. " Al Borough Market 

,...,:,, ,. VI ,,| ,|„. tenders were beyond repair, and had to be | unction and other places in the London district, he adds, 

„ u ,„,„ wagon.. Tin train wreckage deposited on » xvhere 1!.. traffii 1- exceptionally heavx and continuous, 

nkm'nl side in the fatal cutting has bee iveyed exemption from absolute block-working has been granted by 

,iU, ,, company'- headquarters ... Derby. the Board .1 P.ade, but th. exemp ion has- been given on the 

Ding" HI and Cromart) Light Railway. I In secret ar\ oi thi- usual understanding thai the ,peed ..I trains wi 1_ necessan j 

proposed railway on lanuarvqth applied to the Dingwall Town I nsiderabh reduced. 1 he safetj ol working largely 

Council for payment ol their guarantee ol £5, and added depends u,>un Ihi preservation ol moderate speeds. 



COMPANY NOTICES. North Staffordshire Railway The South Indian Railway Company 

c / from •-. Limited. 

VOT1CK is herein- uiven that ll 



The Great Western of Brazil Railway vi utn iiitniN.uti mf.ki 



XV)NK ( "Hf\'»RKi , ) er I\« THlHTlKTH ilt H.u.F ft Y oTT( ' E is hereby given that an 

NEAHM DUDlXAHl MEKT1XU •» tin. I'i..|.i i.-ti.i - ^> KM > (;,„,, , I XI.-. -tin* ol the ivbov. 



in will be held il the H -.-t ! Offi ■. ol th« 



Company, Limited. '. " . ,i,','om„'.. , .",'„' ",i,. Co. si.,i» -Trent, r.-,..,.. ..t x,„u M,, ; -t ,,, .i„- citj ,„ u. 

, i i „ n s ol Fi > I'm nl I IJ I on Ion on I 11- stlny. the 17th .1 i\ ol .1 1 \ IJ11 

kJoTK'K is hereby given that the ,,;,..o,-k n/i... -noo,,: ^^h- ^ 1 ^J^^-nW were'pn^d'-iT "n Extr V,;::;; 

I .;.,,.. 1 a M.-.-tui... "t the Ciomp.ini 1I11I3 r tl and 



vroTit'K 



the Compi 



foi M iniising 1 toi 



- Ul '"' '"' ""■ I"*'''-'-' 1 !'"> "'" '" '""" "' " ' "'' /''''.'.'^i 1 n ' Bl 

,l,|, |.| 1, ... 1 . v nil rONMAX MOM I > 

ii. I. ". the I: I CI' ' 

H lATI-AM n I. PUAHfl 

1 oinpiuiy. Sl ' ■''... ir, 91, 1 01 I, Stre 't, W. tl -t. - « 

lln. . I'lat. Hour. ,„i""i ' ,1.111 "'" • '"'<"■ ''HI 

I* 



THE METROPOLITAN AMALGAMATED 



RAILWAY CARRIAGE AND WAGON COMPANY, Ltd., 

INCORPORATING 



Patent Shaft and Axletree Co., Ltd., Docker Bros., Ltd., and 
the Willingsworth Iron Co., Ltd. 

IRON AND STEEL UNdIeRFRAMES. WHEELS. AXLES, 

AND EVERY DESCRIPTION OF ROLLING STOCK, 

PRESSED STEEL BOGIE TRUCKS, The " Brunswick " Weldless Disc Wheel. 

BRIDGEWORK AND ROOFS, DOCKERS' SUPERIOR VARNISHES, PAINTS, 

and FINE COLOURS, for all Climates. 

Dockers' "Hermator" Paints t or Structural and all clas ses of Engineering Work. 

RclsteredOllices: SALTXEY. BIRivTlNGHAlVL London Ollices : 36. VICTORIA STREET. WESTMINSTER. S.W. 

■% ° Te,e fl ™ - METRO." BIRMINGHAM. -RA1LCAR." LONDON. " SHAFT." WEPNESBURY. 



January 14. 1 91 1 .] 



THE inil.W \Y TIMES. 



+5 



RAILWAY STOCK AND SHARE LIST. 



HOME RAILWAY ORDINARY STOCKS. 






N' 






Barry, Ord. 

"rd. l4%l . 

"rd 

Caledonian, < >nl. 

Do. Dal. Oonv. Ord 

Do. Del. Oi<i., '■ 

Cambrian. ' 1 

' »rd 

Cardiff, Pref. Urd., lSKi (4%) . 



A In: Ago. 
ItO 155 



Last Week. 
152 155 



yesterday. 

152 155 



Do. Dei 



City & > 
East Load 

Gla-g.,» and S. '•• 

Gnat Central, Pref. Ord. 

Do. Def.Ohl 

Great Eastern, Ord 

Great N i iiv. Or. 

Great Northern, 

1 1 .i 
Do. Col 
Do. i 
Great N 

I 
'. 
Great V. 

Highland, Ord. Cons. Capital 

Hull and Barasli j, I 

Isle of Wight, I't. Con*. Ord. (4%| 

Do. I 
Lane, and York*. Cun.s. Ord 



85"! 
6JU 
2Ji B 



86'? 
63^4 
25Ja 

'8 



2U 4 

11 '2 

63^4 



t2ij 

«0»4 

13a 



2th 

11*4 

64U 



M3l2 

4354 

41 '4 
142 



25'a 

'8 

2»4 

2*4 



3512 
23J4 
123 4 
68 J 4 



9 3 

51 

48'2 
141 
123 

34 
104 



88 
63 '2 
25^8 

1>8 
3'4 
3'4 

84 

65 



87>2 

6i'2 

25'4 

'8 



3512 
2514 

69i 4 



93'? 
51 14 
463 4 



25'2 
l'B 
3>4 

3't 



96'2 

51>? 
49l 4 
144 



12112 122 125'2 126 



'.-1 



37 



40 



543 4 54U 693 4 70'. 



90'2 91'2 9212 93'2 



AYi-er Ago 

Lond. Brighton .v S. Coast, Ord.... 103 110 

Do. 1'r. (. I 132 134 

Dr.. Del «7J 4 88 

:. .flits above 6% 6 1 ? 

. lutt. 4 Do»er, Arblt. ord 

I 

Do. 4% Pref.Conv. Ord 94>2 

Do. Def. 41 

ithend, Cons. 1 12 

, Ord 2 

40 

66 

!, Ord IB 

Midland, I'r.f. Con*. Ord. i2J%l 63 

North British, ord. Pref. (3%) ... 66 J 4 
Do. Orel. 

'.i.i% Pref. Or.! 91 
D... Def. Ord. 1 ■ 

North Essti 1 131 >t 

101 

1 Ions. Ord. ... 83 

< S.W. Jon., Or. 41 
Port Talbot Railway and Docks ... ]0 J 4 

. 

Bhymney, Cons. Ord. Cap. Stock 213 

Do. i'r.f. Ord. (4%) 102 

Ill 

I 10 Shares ji 2 

mi, Ord 70 

110 

31 

Stratford ,v Mid. June. Cons. Ord. 46 

Ord 76 

Yale of Glamorgan, Ord 96 



113 
131 
97*4 



10'e 
13514 
136 
95'2 
41 "a 
114 



18>2 

63'.. 
59U 



13U 
218 
104 
114 



81? 



115 
133 

98>4 



14 116 



6 • 



1412 !4J 4 
■38l 4 138i 4 
141 143 



134 
99'? 
9'2 

15'a 



47»4 
126 
2'2 

401 4 
64 
27' 4 
62 5 4 
65> 4 



48'i 
128 
3'2 

41>4 



8'2 

139>2 140 
141 143 

94 "2 

48U 
126 
2"2 



95'2 

48i 4 
128 
3'2 

41'2 

66 



65 it 


66 U 






86 


te 


20 


23 


131 '4 


1313 4 


104 


106 


89 


91 



1334 

12U 
200 



141; 
12'2 

201 



112 



Debenture Stocks. 



Alexandra Docks and Railway.. 

Barry ... 

Brecon and M erthyr A 



19 100 



Do. 
Do. 



Do. D 

Cardiff 

Central London 

City and South London Perpetual 
East London 2nd Charge A 

Do. 2ndChargeB 

Do. 3rd Charge- 

Do. 4th Charge 

Do. E.L.R. 1 

Do. Whitecha] 

Forth Bridge 

Furncss , 

Glasgow and South Western 

Great Central 



79 
101 
100 



Debenture Stocks 'continued, 

rn 3 82'2 R3'2 

North London 4* 117 119 

North Staffordshire 3 80 Si 

Plymouth Devon * S.W. Junction 4 96 98 

Port Talbot Railway and Docks ... 4 104 106 

Rhondda and Swansea Hay 4 103 10a 

Rhymney Perpetual ' 4 102 104 

I 92 94 

South Eastern Perpetual 4 104 106 

Do 6 130 132 

Do 34 90 92 

Do 3 79 81 

Taff Vale 3 79 81 

Tottenham and Forest Gate 4 101 103 

3 77 79 
4 102 104 



Do. 
Do. 



Great Eastern 

Great North of Scotland... 

Great Northern 

Great Northern (Ireland) 

. '■ 



Do. 



Highland 

Do 

Hull and Barnsley 1st 

Do. 2nd 

Isle of Wight 

Lancashire and Yorkahiri 
London and Biackwall ... 
London 1 
London Brigh. : 



4 !C9 

5 129 
4J 116 
34 89 



4 IC6 

4 , 10a 

4j 114 

4* 121 

6 1 35 

2J 69 

4 1C.4 

4i lOd 

3 78 
3-1 104 

4 101 



Do. 



London Chat, and Dover Arb 4>J 



Do. 1883 4 



8 



Do. 



82 '2 

IC9 
100 
106 
119 
114 

no 

98 
88 
74 
74 



103 
111 
lib 
123 
137 



80 
108 
103 

83 '2 
111 
102 
108 
121 
116 
112 
10O 
100 



London and North Western 

London and rxiutli '■'■ 

Do. Consolidated 

London Tilbury and 3 

l .. 



3j 86 



94 
t>4> 2 

e 

82'2 



8b '2 
83's 
33 '2 
108 



M. 



.District 



i.HM-5) 

Da. *>rior Lien 
Midland ... 
Midland & S.W. .1 

Do. H. 






North British 

N. Con: 






Preference Stocks. 



Ales. Docks, and Rail. 4j '„ 1st i'ref. A 98 100 

Do. 44% 2nd Pref. B 8 6 Sb 

Barry 6 125 127 

102 104 

Ci i 101 103 

Cahdunis:. i 105 107 

Do. I 10 4 106 

Do. 6% 1878 lio 132 

Do. 103 105 

Do. 4 J, 18871 - 103 105 

Do. 4% 1902 105 105 

Do. ,0J )0o 

1 ... 103 10^ 

Cambrian No. 1, J ■ 19 20 

City and * _, 1Q/ 

105 107 

100 103 

99 102 

95 97 

Do. l%Pref. Stock '.. 1881 90 S2 

83 91 

Do. 4% 14 .... 87 89 

.... 87 89 

105 107 

. 103 105 

... 102 104 

.... 102 104 

76 78 

Great C; 122 124 

98 

1872 Ha 117 

114 116 

Do. 5% Conv. Prof. 1876 PS 115 

112 

Do. 6% Conv, I'r.f. 1881 107 

Do. 4 1 82 85 

68 71 

52 55 

104 106 

89 91 

Do. 3j 1899 '91 

102 

94 

Great N. 109 

81 

8". 

79 81 

78 80 



Preference Stocks— 

{continued J. 

li. 1 • 

Highland Cla . ... 105 107 

113 116 

... 92 94 

Do. 8* i ... 75 77 
Do. 3 

Hull and Barnslej . 90 °2 

... 100 102 

95 97 

Lancashm . gQl? 811? 

Do. 1 Prei 104 106 

.. 104 1C6 

London)'... . .",% 130 132 

129 131 

London,! ... a? 88 

Do - *| 58 60 

84 86 

Lon. d ; 10Q 1 1 1 

108 110 

1 1% Pref 107 109 

Perp. Pref. 1-1 105 107 

92 94 

Lond. Ti.i I -.1. 104 106 

102 104 

2't 3 

90 92 

86 88 

86 88 

84 36 

, . 76 

Midland 2 .... 68 69 

63 65 

North Briti . 104 106 

116 118 

128 

' '" 7l 1,4 126 

Do. 4. ,, 8 

Do. 4, 116 118 

124 126 

105 

105 

103 

Do. 4 

1 ' '- ' ' 1 OS 

■••■ 105 105 

Do. 4 105 

1 1 T 117 
13 

Plym .ul 

96 

' 41 

■ 



t" 



THE RAILWAY TIMES. 



[January 14. 191 1. 



RAILWAY STOCK AND SHARE LIST 




Alab. Gt. Southern, Ord. Sha 

Do PreI ' ' ' 

Alab.N.Orl.T* & I »■ 6J5 

]i M " li " Deferred 'It 

Atobi<)on, Topeka & Santa Fe Com. 124 

li,, .-,■',, Nmi-l uni. 1'ref. 106 

Atlar Ii-tl.T. U ■■»■■ leutali'Kt. :0? 

Baitimor.^ oi..... ,'■■»;;;;:•■»„■■_ Hd ; ^ 

Chesapen ",' , 

ChicawoGt-Westen, Com..- 

li.i I ' '"■ ■- ". 

ChieaB", Mii^aukr. A M.l'anl.l I". !3D>2 

Do. Prefd. . 
Cleveland 4 l-itUmii/li, 7 
Denver* Rio Grande, < ommon . 49 
Do IN' * Co.] do. 49 

Do' f,"„ N.m-Cum. l'refd. 841j 

Do! [Ne* Co. do. 

Brie, C ■ i ■—•■; 

I,,, i . ii i urn. It l'refd. sj 
d do 40'i 

Great '■ 

Lral, Common I tu 

[) 

' "';"""" 4 _, 

Sou i .mi. I .. I ' 
Louisville and Sn livilli 
i.St.l'ai i 
Do. l'refd, Stk. Not n. . 



100 

i I ' him. Ml- 1 ' 

I.I 



■ 



[ani vm 14. I 



TH1 RAILWAY 



Ml S. 



+7 



OFFICIAL TRAFFIC RETURNS. 



Barry. 6 

1911 1910. 

12.022 £16.056 

65'* 
Caledonian. 

1911. 
55.013 £32,059 

• '. 027. 828 
Cambrian. 

191 1. 
1..196 £2,i76 
J 

'•' 

Contral London. 

3.70b £5.532 

City and South London. 

£5,67! 

1 

Dublin and South Eastern. 

• 
■ - . 1 £5.495 

■ 0] 1.1*9 

Total t..r 

Furncss. 

1910. 
£2.016 £1.944 

-.04y 

£9, • 
Aggregate for 1 weel 

lit) 139 

. 

Glasgow and South Western. 

1911. a 1910. 

£15,700 £14,800 

10 .400 11.000 

Total (or week £267100 £25.8:0 

Aggregato for 23 weeks £850.100 

4441; 

Great Central. 

191 I. a 1910. 

( 2 1 .600 £20,900 

Goods, etc 55.300 54,500 

Total for w, , k . 

! £76,90C 

Great Eastern. 

« 1910- 

£47.300 £47.800 

Goods, etc 37.800 

Total lot weal 

1,051 

Groat Northern. 

a 1910. 
■40,500 £40,900 
Goods, etc. 61.700 64.30C 

Total for week ■ '2.200 £105.200 

Aggreev 2.200 1105.2S0 

1.003 
! 

Croat Northern (Ireland). 

1911. 1910. 

£H.35<5 £r).478 

Goods, etc. j 

Total (or week 

Aggreg.i-. for 616,3 

543 



Great North of Scotland. 

lal 1. 

. ■ 

! 
336 

. 

Groat Southern and Western. 

1910. 



Metropolitan. 






Week . 



1911. 
£!! ,521 

£25,923 



1 , : 2 1 



£11,899 

1.121 



J 1910. 
£15.053 

Metropolitan District. 



rt'i 



lal 1. - lt>10. 












Groat Western. 

■ 
: -).U00 £106,000 

Aggregati for] 

■ 



24 









Total f 









Highland. 



Week 1 

r week 

.'•• f.T 23 I 



191'.. u laiO. 
£5.224 £4,679 

258,324 £250,305 







Mil,., open 



492 1 1 



49214 



Inc. this w,-ek. £427 [lie 



Midland Croat Western of Ireland 

1911. 
£4,205 

Total fo • ■ 









19i0. 

598 



Hull and Barnsley. 



8 1911. 

... 

rweeli 

: 11 0.1 68 

89'2 

I 



North British. 



reek, £1. 



Lancashlro and Yorkshire. 



Week ending January 8 1911. 

£39, 

Goods, etc 59.815 




£35.896 £33.980 

Total for a. £72,35! 






2.269. • 






North Eastern. 



1910. 
£36, 169 

61,587 



















592 


12.59 In 


■ 





London, Brighton and South Coast. 



ending 

£50,421 

.-5.157 
Miles open 1.734 

North London. 



£49,212 

107,601 

£156,813 



Week ending January 7 1911. 

£41,683 

16,214 
Total for week £ 

487 
! 



a 1910. 
£40,143 
15,951 



Week end 

Total for 

Miles open 
Dec. tin- 



1911. 
£3,955 
3,696 



a 1910. 
£4,216 

4,^22 



London Electric. 



1911. 1910. 

114.830 £15.550 

21'; 
Inc. thi 



London and North Western 



North Staffordshire 



Week 8 1911. 

£4.700 

Total foi ... k 118, 440 



a 1910. 

£4.800 

j 13,854 



w.i „ a 191 1. 

£■'.. rx 

154.0C0 
Total [01 - '45.00C 

I 



week, £5,000 



Lr.nclon and South Wostern 



8 1911. 

£54,200 

Goods, , i 
Total for week 
Aggregal £79,100 




1910. 
£54.900 



k, £100 



London, Tilbury and Southend. 






TatT Valo. 



H 1911. 

£7,504 

I 
Aggregati 



1910. 

£7.?49 



' 






« 1910. 






Notes asd Exfxjuiati 
Dock dm 
55 mil, - 
c Canal 119 miles. 1 Includes si. . 



> actual fljra 

■. 



4* 



THE RAILWAY TIMES. 



[JANUARY 14, I9II. 



OFFICIAL TRAFFIC RETURNS. 



BRITISH AND IRISH RAILWAYS, &c 



FOREIGN AND COLONIAL — Continued. 



Belfast 4 Co. D. 
Brecon. A Mer. 
Cleator 4 Work. 

Cock. K. A V. 

irk B. & SC... 

1 1. rck. 4P.. 

East London 

. and City ... 

Isle of Man 

Isle of Wight ... 
Isle of W. Cent. 
Liver] I Ot er. 



Mane. Canal 
M'port. .V: Car... 

Mid. 4 S.W. .In 
Neath 4 Breooi 

Port Talbot 

Khon. 4 S. Bay 
Stratford A M. J 



9:1 
16 

m 

(61 
Hi 

m 



Latest Earnings Reported. 



Wk. or Month. 



473 

599 

1,451 

:..■,,. VII 

2.011 
2,130 
1 ,662 
1,528 
2,650 
2,337 



£2, lis 
2,171 
1,129 



2,116 

'2,1 is;, 
1.686 

1.000 

2,587 

2,211s 
1)73 



Aggregate to date - 



1.45] 

184,782 
2,014 
2.130 
1,662 
1 ,528 

2,6.50 

2,337 



1910. 

San Paulo .... 

232,418 sthn. Punjab. 

2,171 Ludha. Ext. 

1,12:1 South. Indian. 

733 Taltal 

1,722 Temiscuuata . 
293 Un. Kys. Ha v. 
l:l,2l:i 1'rug. North . 
1 ,57 1 W. of Havana 
505 W.P. 4 Yuk.,11 h 
tan IniteiU- 
591 Zaf. A- Huelva 
I..::: - 

His, Ills 

2,1 Id 
2,1 Is.', 

1,686 Railroad. 
1,606 



Mileage. 


1911. 


191 \ 


I 118* 


118J 


425 


425 


155 


155 


■ 1,694| 


l,694j 


184 


184 


i 113 


113 


WO 


01 ill 


72; 


72$ 


, 147 


147 


> 112J 


112J 


t 112 


112 



Latest Earnings Reported. 



1910. 



1911. 



1910. 



2!l,s:is 
95,824 
15.960 



2,000 
5,099 
2,376 

15,91 
11.417 



21,203 

1,02,882 

16,375 

1,16,153 Uii'i. n7, ss:; iui'11,501 
23,917 124,380 146,092 



1.39:1,553 
16,47.601 

:i.:i:i,r,22 



33,1135 
1.808 
4,765 



97,299 
468,785 
11,490 

136,037 



150,232 
10,914 
134,893 



1:1:1.1:1. 1.13,1. 2s 



UNITED STATES RAILWAYS. 



Milt-age. 



Late&t Earnings Reported 



1909-10 1908-9. Wk. 



FOREIGN AND COLONIAL RAILWAYS. __ 

Aggregate to Date 




Mil 


age. 




Lati 


-t Earnings Reported. 


1911. 


1910. 
33 


K 1 


. or Mouth. 
Jan. 7 


1911. 


1910. 


3.) 


15,000 


9,000 



790 

.:i 



.SO! 



Ben. 4 N.W. 
Beng. Dooars 

Extensions ...c 1 11 
Jengal Nag. ...c 2,398 
Bil. Kiv. AC....<i 15 

Bolivar u I 1" 

Bomb. B. 4C.I.C 2,419 
Braz. til. 



1,895 l.si.i Dec. B 

aoijuh l-n. 

117 July 1-De 

2,354 " lui. 1 



U. 



Pac. 



• 1. .a 



B.A. Eli.. 

B. Ay. tit. S 

. Ay. West. .. 

Burma 

11. North 

u. Pacific ... 

Cen. Argentine 

Central drug...." 

blast Exteu. a 

North Ext. ... a 

West Exten. " 

Chillagoe 

n-duba Cent. a 

■Cent. N. Sec. " 

B. Ay. Exten." 

Cord, at Bos. ..." 

ttica a 

Cuban Central u 
I 111. .V K. c 

IDemerara 

West Coast ,. " 
iili.ii 1 utd. ..I) 
)om. Atlantic 
East Indian ... c 
Egypt, 1 elta it 

• Bay 01 

Entre Itios a 

G. Tk. of Canada 



3,1-1 2,967 
165 165 



::,.::i,o.-,n 3,04,605 



11,07,306 10.14,000 
11,750 21,001) 



18,371 16.356 



2Kfl Alab. Gt. Sth 

673 Ala.N.O.AT.P. 528' 

1 Ate. Top. 48. Fe. 9,790 

Bait. 4 Ohio 4,198 

Cent, of Geor. ... 1,916 

Cent, of N. J. ... 667 

I'in: . & Ohio ... 1.93S 

Chic, lit West. 1,486 

Ch. Mil. & S. P. 7,511 

Cin. N. 0.4 T. 3373 

CI. Cin. Ch. Ac. 1,982 

Denv. St E10 li. 2,777 
Erie 



ill,. 



115,11.17 

31,350 

21,97,821 



11,-11 



2,230 
7,129 
4,551 
4,595 

1,027 
2,523 
3,072 
1,750 



IH.U7.IHMI 

: 177, 001 1 
2,21:1,52.-, 



2,99,000 

Pis..-,:ii, 

22,761 

10,14,001 



! ,933,991 
76,447 
14,50.1 



tral.. 
Louis. 4 Na-h... 
Minn. 4 St. L 
M.St. P.S.S.M 
.Miss. Kan. AT.. 
Nat. of Mexico 
N. Y. C. 4 H. R. 3,587 

n. y. out. 4 w. 545 

\111f. .v West. ... 1,941 
Northern Pac... 5,090 
St. Jos. A G.I... . 319 

st. B. 4 San. Fr. 4,726 

St. Louis S. W. 1,507 

7,050 



Dexa .1 Pacific 1,885 

Wabash 2,514 

W'hl 4 L. E 



1,040 
:t,5s0 
10,27u 

2,613 



1,360 
1,340 

3 ISO 
III.OIS 



2.50J 2,477 



4, sis 




1,533 


1,440 


9,419 




1.1,11 


4,810 


11,350 


s, 1,911 


3,05 




1,800 


3,545 


7,111 


5,6 ..: 


9,265 


11,512 


39,000 


511,2011 



1,777 



WORKING STATEMENTS AS LAST REPORTED 



Railroad. 



615 10 dys. De 20 



2, 1 17 


2,512 


160,511 


138,6 1 ' 


85,700 


97,451 


18,79,000 


16,51,000 


1 8,183 


3,159 



J.I l 



12,521. 

153,330 
3S9,S20 
12.1, sill 
I ,...".:■ 
152,1 i9 
151, .J III 
39,000 
92,13.1 
9,916 

775,7011 

ls,73,000 

184,023 

12,020 

220,200 



Ma 

Canada Atl. u 



..a 3,536 3,530 



Jan 



.tl.AM.i 



T.i 



lit. Ind.Pen. ..c 

G.W.nf Brai. u 

(iuay. 4 ymto ; 
U.li. Ni 

. Hod. c 

Inter. ..I Jin. It 



7 tys. 

465 7 i , 

336 7 dys. Jan. 

.... Jan. 

,521 7 dys. .1: o. 

ran. 7 
90.1 .Ian, 7 

160 Nov, 1 I" 

300 Julj 



Lai 



,\ 1 .. 



opoldina .. ..< 

Mad. A S. Mali. 1 

Manila 

Ma-biiilaland i 
M.iii.i. 

n ". 

M.,l.,,l W. in la 

... ;,, 1 1 ., ... 

N.W. of I rug. 6 

* .ill. 
I >rp. I, 
Pira. 1 

■ .in. . b 
a 

i.i. 



, .1 


.11.1 


178 




27/ 


,. 


227 


197 


'ii. 


205 


1 291 


291 


, 111 


111 


1 .11 

160 


321 
155 



UK, 731 . 101,322 

6, .516 

23,579 20,151 

7,358 7,041 

146,181 134,5*5 

211,7:1,7011 



17,100 138,1 

6,2 10 2,: 

21,179 2,1,1 

li.26.0SS 6,74,: 



1 1,0 10 

122,870 
10,300 '.l,ii.51 

6,1,1m 7,881 



341 


321 


160 


155 


. 


9754 


346 




:i 


.11 


240 










1,198 


.■11., 


203 



25,579 

7,358 

146,184 

IC.'.lo.soo 

11.1.7s 

12 11,972 

1,117,291' 

71,000 

21,179 

' 12,69, 1.. 

159 

239,195 

13, 

2,021.702 
37,031 
35,807 
53,109 

1. ls,5 1 1 
,411 

6,1172 



911'. 'Mi Alabama tit. Southern Nov. 
n'sl'.i July 1 to Nov 30 

42'i"l Atcb.Top. 4 Santa re.. N"* 

_ July It. Nov. 30 

144 235 Baltimore ami Ohio.. Nov 
Jul) 1 to Nov. 30 
,'i I'auaiiiau Northern .. ->" v 
1 ,1,040 July 1 to N "\ 3 1 

141647 Canadian Pacific .... Nov 
1.51,522 July 1 to N01 30 . 

5o,20ii Chesapeake and Ohio Oi 
11,9,22 July 1 to Oct. 31 

r'.-.s'i Chicago Great West. ..N .' 
_' Jul) 1 to No' 30 

821,289 Lienver A Kiu Graude Oc 

16,51,006 July 11 ' 

177,101 Grand Trunk of Cauao . :— 

Main Lme No' 

July 1 to Nov. 30 
Canada Atlantic . . No 

July 1 to Nov. 30 
Grand trunk Westrn No 

Jul, 1 to Nov. 30 
DetroitOr.Uv.4t.MU. So 



181,057 

108,731 101,322, 



2 1,451 
7,041 
134,51 

2", ;:i. 7110 

10,32 



• IllK 1 I 



Tubal for System . 
July 1 to N01 31 
Louisville 4 Nashville 
20,98,088 •' "ly 1 to Oct. 31 

12 50,912 Minn. St. P 4, S.S.M. 
I 222910 July 1 to " ,l - 

' 61500 Miss. Kan. 4 Texas 
July 1 



115, .51 1,9- 1 N 
34,744 

197,656 



S 1 



lucludiug North " 



27,676 

•24,191 

1,5 is 

--I 102 
. , 
2,000 



f Including Berbic 



I ni Mes 
July 1 to N. 
New Vork ODt. A West. 

July 1 1 1 

l.il'i.'.s I'bll. and Heading 
13 661 lib" 1 

35,004 Coal and iron 1 o. . 
511,1191; Jul) I '" Nov : 

Total both ( 5 mips 
i,,lv I to Sui 3 
137 .71 BOB. Cm Ch.4 St. 1. 
4354S Jan. 1 to Not 

17 710 St. Jos, and Gr. Isl. 
7-5 711 Juiy 1 to Hi I 

t.L iinfl 4 San. Etau 
•'i'5.,1 Jul) I' 1 

272/J62 southern Railway 
588,291 Jl:lv l b° N "* ' 

.'9.1S79 Onion l'acillc .... 
11 14,817 July 1 to 



tVaba 



nit ' 



ni I'm lipine doll 




In, .luilinc Indian Miillaod. § Including Mexican Southern receipts. 



J \\i \kv7;i. UH [.] 



nil RAILWAY TIME 



40 



r BREAKFAST. 

LUNCHEON & DINING 
SALOONS 

In principal Trains to which 
n. i'.infi any 

■ access without 

extra charge, except cost of 



THE 

EXPRESS 
ROUTE 

Between LONDON (Waterloo Station) and the 
SOUTH AND 

WEST OF ENGLAND 



London &South Western Railwau 



SWAHAGT 

C\ IMATT 



rSi E "/' WIOH SIDMOUTH 

PORTSMOUTH /'/ 1 MOUTH, 

LBB-ON nil sOi / \ /• BXl 

SWA \ IGJ B.\ Vtu J // 

BOURNEMOUTH. I 1 Hi 



B1DBFORD. 
SB ITO.V. 

j- i/isTinr. 
in in-;, tt, - 



L. & S.W. R. 



PARIS 



AND 

TIIIJ 



CONTINENT. 



M I comfortable and convenient for 

;e — Twin-screw Steamers — Connection 
between Boat and Train at Havre is guaranteed. 



SOUTH WESTERN 
HOTEL. 

Southampton. 

Adjoins Station Platform 
and faces the Docks. 

"Welcome. Southampton" 
'Phone— No. 7. 



FAST STEAMSHIP SERVICES 

on alternate Week-days 
between SOUTHAMPTON and 

St. Malo for 

BRITTANY. 



Climate 
Dry& Invigorating 




For full particulars applj to Sir, II Holmes, Supl 

. - I.. i II 18, J, u',\ ENS, I 



Express Uf - *> 
Trains from WATERLOO in w 



4 HOURS 



BROWN BAYLEYS STEEL WORKS, Ltd 



SHEFFIELD. 



Manufacturers of Steel by the "SIEMENS" &" BESSEMER " Processes. 

Makers of TYRES, AXLES, and SPRINGS, for 

RAILWAY LOCOMOTIVES, CARRIAGES, and WAGONS, and also for ELECTRIC CARS. 

S PECIAL GUARANTEED SPRING STEEL. 

SPECIAL STEEL BLOOMS, BILLETS & SLABS. 

London Office— Suffolk House, 5, Laurence Pountney Hill, Cannon Street, E.C. 



THOMAS TURTON&SONS, L 
Sheaf Works, SHEFFIELD. 



LONDON: 

90. CANNON STREET, 
CITY. 



Spring Steel, 

Cast Steel Forgings, 

Picks, Hammers, Tools, 

CAST STEEL FILES. 

SPRINGS & BUFFERS. 



THE RAILWAY TIMES. 



[January 21, 191 1. 



"~ 



TUDOR 

ACCUMULATORS 

WITH 

AUTOMATIC 

REVERSIBLE 

BOOSTERS. 



Many large Plants at work in Electric Railway, 
Tramway and Power Stations. 

Complete Battery and Booster Plants 

Designed to suit Special Conditions. 



TUDOR ACCUMULATOR CO., LTD., 

119, Victoria St., LONDON, S.W. 

Works: DUKINFIELD, near MANCHESTER 




A Convincing Reason 

why the typewriter purchaser should select the 



6i 



REMINGTON 



» 



has always been furnished by 'the unique Remington 

strength and reliability. 

Eighteen additional reasons are furnished by 
the eighteen original improvements found in the 
latest Remington Models (Nos. 10 and 11.) 
Let us send you descriptive booklet. 

REMINGTON TYPEWRITER COMPANY, 

100, Cracechurch Street, LONDON, E.G. 

Telephone No. Avenue 5555 (4 lines). 



Of in e • t to a I .Ho tolljw 
t. o workings of our Railways. 



GREAT 
RAILWAY 



SUBSCRIPTION RATES: 
29. per annum, P09t free. 
Art Paper Edit.on, 3s. do 




CENTRAL 
JOURNAL. 

PUBLISHED MONTHLY. 
FULLY ILLUSTRATED. 



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THE ffl/'OB. Genfal Station, lefcester. 



READ THE 



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AN UP-TO-DATE 

illustrated J be had at all 

RAILWAY 
PUBLICATION. 



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Subscription— Art Edition, 3 6 per ann. 
Ordinary „ 2/6 ,, 



Paddlngton Station. London. 



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BRUSH MANUFACTURERS, 



i£EDS. 




Contractors to the Railway Companies. 



Our Home Railways : 

How they Began, and How they are Worked. 
By W. J. GORDON. 

In 2 Volumes, medium 8vo, with Full Indexes, etc.. and Illus- 
trated with jt> unique Coloured Plates, SO Full-page Engravings, 
and upwards ot .2 50 smaller ones from the latest photographs, 
many ot vt hi< L have been specially taken for the work. 
(Style I. ; Elegantlj hound in cloth gill, gilt top, each 6s. net.) 
(Style II : Handsomely bound in half-morocco, extra, gilt 
top, each 10s. net.) 



F. WARNE & CO., 

CHANDOS HOUSE, Bedford Street. Strand, London, 
•graphic .v Mi. •• u i;m , LONDON." Telephone No. : 2208 GERRARD 



51, i 



Till IUII.W \Y TIMES. 



5> 




Cxpwss "Reslaumt Cat? Smxts 

LONDON (MARYLEBONE) 



RUGBY, 

LEICESTER, 

NOTTINGHAM, 

SHEFFIELD, 

YORK. 



LEEDS, 

HUDDERSFIELD, 
HALIFAX, 
BRADFORD, 
MANCHESTER, &c 



Cross Country Expresses are a distinct 
feature of the G.C. Service. — 

■it l.M, 
YORK.MANCHESTER, BK \hl <>l;l) li 

ROTHERHAM, and SHEFFIELD, 
III Through Lull 

Oxford, Southampton. Bournemouth, and the south 
Western Line, also to and Irom Gloucester, Cheltenham, 

Newport, Cardiff, liarr> and South Wales, 
Bath and Bristol (with direct connections lor the 

West of linirlund 
are. n-.ii/. fust unit Lun 

WAK1 FIELD, HALIFAX, li 

SIII.H II LD, '■ 

Via MARYLEBON) s POPULAR 
TE for STRATFORDon-AVON. 



fill OlMIMM 

QRIMSB> 
II VMBI k'l, U<>\ || k|>\\\ \\l \\ I RP 



Trains are Vestibuled aiul include /-' 
Luncheon and Dining (.'<; rs. 



'or particulate ot i 

end u postcard to Publicity 

SAM FAY. Ce 



I 









. iff* 



" The Railway Times " in- 
cludes amongst its Advertisers 
and Subscribers the following 
and many other British, Colonial 
and Foreign Railway Com- 
panies : — 

1 
B ind Merthyr 

Caledonian Railway. 
Cambrian Railways 
('<11tr.1l Lond 
( 'heshii 

1 ind South London 

Dublin, Wicklow and Wexford 
Furni ss Railway 

Western 
Gi Ci ntral 
, -t.-rit 
1 rn 
Northern It : 

- tland 
Southern and \\ ■ - 
Great V\ 

d Railway 
I Wighl 

I d Yorkshire 

:, Brighton ancl Si - ' 
itham and Dovt r 

rn 



London and South Western 
London, Tilbui 

Man 1 

Mi I Iway 

Mi in ijx ilitan Railway 

Midland Railway 

Midland 1 ireal Western • >l Inland 

North British 

North I 

North Staffordshire 

■ I Swansea B 
Rhymnej Railway 

I 1 am Railways 

I \ ale Railwaj 

Argentine North Eastern 

I 
Assam Railways and Trading 
Bahin Blani 
Bahia and San Frai 
'-' 
Bengal-! 

1 I Tian 

I . 
Brazil Great Southern 

Southern 
Buenos Aj res and Pacific 

Canadian 1 Pacific 

1 ,. ,\ ernmenl Railv 

Central I 

I 



('intra! I 
1 I 

1 

1 > ntral 
Delhi I'ml.alla Kalka 

R lilway 

East Indian 

Egyptia 

( '.rand Trunk Kail 1 .-. 
Grand Trunk Western 
1 I isula 

Brazil 
Indian Midland 
[nteroceanic Railw 
La Guai ' 

Leopoldina Railway 
Lima R 

1 
Midland li. 

'■' il 

,1 Railway 
Portugi 

Rhodi si 
Royal 

South \V 

Wesl 1 



*♦* . 






THE RAILWAY TIMES. 



[January 21, 191 1. 



COMPANY NOTICES. 

London and South Western Railway 
Company. 

NOTICE is hereby given that the 
a , ,, ii.,,, Fearli G, neral He. ting of the 

. ,„„,,:, ,n v, ill be liel'l at « uteri..,,. St:it) ■""!"" 

the 10th Fel ry, 1911, at TweWe 

o'clock ii. when i Report will be Bubmi I I 03 

any. a Divi- 
dend w ii] be declared and Genera] Business 

\, tin. M,, in,,. tliere " 'H '" I" .■I'-.-tKUl "f t«ll 

In the places .it Sir Owen Philips 

K.C.JI.G I Robert Martin-Holland, Esq., who 

will retire in the usual rotation, and, being eligibl, 
offer them 
Tbe Ti- 
the 



North Staffordshire Railway. 

that 



NOTICE is herebv civen that the 
ONE HUNDRED AND THIRTIETH BALI 

YEARLY OKIIIXAKY MEETING of the Propi '" 

,i the v.rtli Staffordshire lt:ulw:i\ t'omp:niy will !„■ 

I, ,1,] ,,, til.- lithe,- ,,1 tie t',,„l|,,m. Steke-ll,,..!, In »'_. 

in Tuesday the Hth day of February, 1911, at l.4o 

,, , i,„ i, in the afternoon, foi the ti msa. I I In 

Oidmarv Im-nie*- el (he Company. 

Th.- l-'i-t dav fur the registration ,,t Trail- - "ill 

, .on, when the books 

lose.l until alter the Meeting-. 

TilNMAN MOSI.EY. 



be obtained 



I'hal 



B I. PI IRCE 



elves for 



-i le 



in 



21st Jai 



Books oi the Com] \ will be closed 



ii tl 1 "i the Meeting. 

By Dialer. 

GODFREY KNIGHT 



Loudon, 
lanuari . Kill. 



TENDERS INVITED. 

Great Eastern Railway Company. 



JOT1CE is hereby 



^\ Niuetj 



Seventh Hall Fearlj Gi 



Propi 



„i the 



that 
tral Meet 

Rail* 



the 



South Indian Railway Company. 

^"^HE Smith Indian Railway Company, 
1. ted, i- prepared to receivi renders for 

ihe supply of —(1) General Stores, comprising hard 
ware. iron, steel, paints, leather and india-rubber, 
J, stationery, comprising papei 
• ions and forms of tendei 
at the Company's offices. 

renders addressed to the Chairman and Directors 

oi tin South Indian Railwaj Company, Limited, 

I, ,,,[., to, General Stores oi as the i ase 

mal be llOI-t lie left With the mule I -I'J lie.l 11. if Liter 

th .,,, o'clock p n Tuesdai the 31st January, 

1911. 

The Company is not i id ti ep1 th. owes! or 

anv tender, * 

j , uiu, h « ill not be retui n. d n ill be made 

aeh i <>|,y or -peihratiou No 1 and 10s. 
.,,, , i, I, copy ol Ni. 2 

oi the drawings may be obtained at the 
Robert White. Esq \ MICE ' 
to the Company. 3, Victoria-street, West- 

Ion, S.W., on payment oi 5s pe -in I 

By order, 

V. E. DE HliOE. 
ior Man igi 



i opi 



Taff Vale Railway Company. 
"VTOTICE is hereby given that the 

]_>| One Hull. In ,! and I- iftii tl Hall Vein ly 
General Meetintr oi the l'ropri. f.u ■ t tin- Cnq \ 

will i» heir] ,,t the Royal Eot 1. Colli gi t! ■ 

the City oi Bristol. ..n We.ln.e-.hn, the sth .la. oi 

February next, at 1 wo o clock in the A I 

The Transfer Books will be closed fr vVi dne 

day, the 25th January, until aftei the holding oi 
such meeting. 
Dated this I ith laj oi I innary, 1911. 

. I! r l.im E cl! IM' \ LSSALl 
Chan man. 
EDWARD EDWARDS. 



II ill 



at the Great 
, ), Live] poo] 
London on Tuesday, 
I ,t rwelre o'clock 
tun poses oi the ninl 'l- 
ITICE is HEREBY 
, n solution will be 



to -• t a-l.l. 



-ill. 



'- Offices, 
"ork Street. 
17th -lamia 



We-tll 



;. TV- 



India Office. — London. 

State for India 



only in redui ' ion 
arise in th. fun Is 
Provident Societj 

i, 1, 1 1 to the -i 

contributed to the 
\NH NOTICE is 
that, in aecordanci i 
, Spei i il 
prieto 



be In hi 

Hotel, oi 



the H > 



London, Tilbury and Southend Railway, haif-i 



NOTICE is hereby given that the 
One Hundred and Ninth Hall Yearlj General 
Sleeting of this Company will be held in 

Room, 41, T tj s, re, row. i Hill, L Ion, E C 

,n Thursdaj the 2nd day oi February, 1911, at 12 

o'clock i i 

\t the conclusi 1 the above meeting, an 

Extraordinary Gen nil Meetins of the Company will 

the | nitting to the Pro 

! tors foi lie: oonsiderati I approval, 1 he 

provis - of the following Hill ,1, |,,e,te,l lor th.- 
ensuing Session oi Parliament, intituled:— 

\ Bill to confei further |...»n- upon tie 

I Ion rilbury and Southend Railwaj C 

panj »iih respect to tl Iectrii il working ol 

'•a- and "tl. 
I ,,, . , , | losed from the 16th 

1 " Insivi . 

\i:iiiii: l STRIDE 

I ll.illlll Hi 



Meeti 



if the (Vimpanv, a sum not 

ami pounds, to be applied 
f anv deficiencj thai maj 



: i ill i: Gil EN 
ding Orders of 
,.... of the Pi 
v Company will 

lit, t I :. rem 

iiin.ii. 1911, at 

Y.:nl> G 

k on "th 
luded, at which 
Bill 



THE Secretary of 
Council i- preparei 
such persons a. may he w 

Ma, ■ 

The conditions oi oonl ract m 

. , to the I'lie, -tie Gi le i. 
Office, Whitehall, S.W., and tenders 
by Two o'clock 



to supply Workshop 

iay 1- btained on 

i.i of Stores, India 

to I 

Tuesday, 



February, 1911, after which time no te 

'. G. BUTLER, 

Director-Genera I oi Stores 



red, 



day, it Ci. ime place, shall be i 
Special General Meeting the foil, 

I ami nt with tl"' andi >■ ationed title 

submitted to the Pro] rietoi 
or by proxy for their appri 



vill be 



'A Bill to authori 
impanj 
work- and to 



Midland V, ill* 



I,, ii,, ,,i Northern Rail- 

„,, linleiv- ,,..1 
,,,,1 to i "lifer lur- 

ianj to 
Peterborough by 

Com] y and the 

, authorise the con- 

Oth a e 

h. Great Northern 

,,. Ci n'i '1 B lilv i; 



41. Trin 



il CECI1 M « l"N 



rowei Hill. EC. 
1911. 



of thi Mi-'-. 11 Hill in.l 1 
,,x . nn.i for other purposi 
Rv Order, 
, i ,, i |, ,1 HAMILTON 
P LOMAS - 
verpool Street Station, 
... 1911 



The English Association of the American 
Bond and Shareholders, Limited. 

5, GREAT WINCHESTER STREET. LONDON. 
Acts as Trustee for Debenture Issues, Etc. 
SPECIAL ATTENTION is directed to the new form 
111 cilsfERED CERTIFICATE issued by the Asso- 
ciation, whereby expense, risk, and trouble are 
avoided by Shareholders, Trustees, and Ex. 
exceptional advantages are afforded to Investors in 
American and Canadian Companie- 

American and Canadian -hares registered in owners' 
names. Loudon representation of Companies 
domiciled abroad undertaken. 

Trustees and Directors. 

ilfred W. Smithers, Esq., Chairman, London. 

rhomas 1' Fowl.,, Esq., New York. 

Walter l.inilley, Esq., London. 

Thonia- Ri ynolds, Esq London. 

Rt Hon I. .no Wclbv of Allins-ton, G.I B 



M , 



Full particula 



ii- 
S i.ei 

obtained ■■" application. 



THE METROPOLITAN AMALGAMATED 



RAILWAY CARRIACE AND WACON COMPANY, Ltd., 

INCORPORATING . 

Patent Shaft and Axletree Co., Ltd., Docker Bros., Ltd., and 
the Willin gsworth Iron Co., Ltd. 

IRON AND STEEL UNDERFRAMES, WHEELS, AXLES, 

AND EVERY DESCRIPTION OF ROLLING STOCK 

PRESSED STEEL BOGIE TRUCKS, The « Brunswick » Weldless HDisc Wheel. 

BR.DGEWORK AND ROOFS, DOCKERS' SUPERIOR VARNISHES, PAINTS, 

and FINE COLOURS, for all Climates. 

Dockers' "Henmator" Paints ton ^tnuctunal and all c jasses of Engineer.ng Work. 



X 



-I FV BIRMINGHAM. London Offices : 36. VICTORIA STREET. WESTMINSTER. S.W. 

R n r Nr!r4Z»B"~»T -RAILCARD LONDON. " SHAFTS WEPNESBLRY. 



8f fa ^ailttragr SJ imess 

A Journal of Finance, Construction, and Operation. 



Vol. XCIX. 



SATLRDAV, |A\L'ARY 21, 1,11. 



No. 5. 



PRINCIPAL CONTENTS. 



Thli «•■ k'a R»ilwaj Dividends 
Ormsklrk 

11.. HI ■• itlnghousc 

Brake 

Ormsklrk 
The Di ■ inado bj 

Ralto iy» 

»hm\ 1 I. M i 1 -Mnnn 

Uokbi im Stoi k m irk] ra 

ltt\k K) 11 1 .-. 

British and Irish R ui.u ii l>n i- 

DBXDS 

"i\.. DIVIDEND V-. 

W1MIVI'. - 



\ h « I - - I | j 

MKI ii^.s ISD Rl 
Metropolitan Etallwa] 
itantinoplo frn,,i Ga 
Pcra, 1 11 
1 I Rnllwav., 

Metro Itan Etallwa 

City and Soul h I 
1 \ 1 ..\ - 

• : 

Railway S'otes 

Dl\ 11. im. tXSOl Mlnr. 

Dividends lsd Yields 

m I >-l I 11! .1 I \ I II:- 



THE RAILWAY TIMES. 



Established In 1837. 

PUBLISHED EVERY SATURDAY. 

Annual Subscription ipost free . 25 shilli 



.es. 



ived not 



Noll. 

All communications for the following issue should be rece 
later than 6 p.m. on Friday. 

New advertisements or changes in copy for the inside pages 
received not later than 6 p.m on Friday. Advertisements 
cover must he received by noon on Thursday 

Advertisements of which proof is desired should reach u: 
second post on Wednesday 

Money Orders. Cheques, etc.. should be drawn in fa 
THE RAILWAY TIMES, and should be crossed "National 



Teleeraphk Address: "AltJmetry, London.' Telephone No. : 2Q4S (ierrard. 
Ollices: 12 Norfolk Street, London W C. 



must 
s for 


be 

the 


9 by 


the 


vour 
Bank 


of 



Founded 18T71. 



OCEAN 



Jtcctftent anb Cihtqrqrtfce = g 
= = = (£orporafion, Simxteb. 



£2,000,000 
£8.000,000 



Assets exceed 
Claims paid over 



Accident Insurance of all hinds. 
Fire. Bun/Ian/. Fidelity Guarantees. 

Tramway I nsurance. Licence. 

Insurance and Inspection of Boilers. Lifts. 
Cranes. Engines. Electrical Plant, &c. 

Ibcafr Office: MOORGATE STREET, LONDON. 

>• RICHARD t. PAOLL. 



THIS WEEK'S RAILWAY DIVIDENDS. 

I hi -.. .ii ious hi 'in' railway dividend arm 
■ week have beei 
Although thi mainly 

dependent upon passengei traffii lent is 

shown. I he best antii ipati for the 

second half ol [910, relate, of coui ■ to 

lines, whii h ai erj matei i 

1 overj in trade. It is encouraging, therefo 

1 lines also an 5 ielding betti 1 results to 
their shareholders. The Citj and South London dividend, 
it is true, 1- merely maintained a1 the rate oi i, p i 
but even in this case where little was expected, the b 
carried forward is raised b; £1,000 tnd the result is in 
happy contrast with the reduction "I \ per cent, shown 
in its dividend foi the first half ol [910 The Metropolitan 
distribution will be a1 innum, 

against 1 percent. The accounts indicate that if pei 
has actually been earned, the surplus being utilised to raise 
tin- siun transferred to ele< tin al renewal fund from • 

to | i" 1 whilst about £3,500 extra i 1 ward. 

ll:i dividend is nut even now .1 verj handsome one, but 

at least it can be said the best since thi I 

im the first hall ol 1906 [he Central London dividend 

is maintained .it the rate ol , pei cent, per annum on the 

ordinal \ stock and .it the rate oi 2 pei cent, foi thi 

mi the deferred stock. Thi bala ed forward, 

amounting to £33,600 is about the same .is lasl yi 

a transfer of £] made 1 thi esei 1st only 

£2,040 a ■■■ - .'i 1 I [ 1 London rilbury and Southend 

dividend has been declared .it the rati ol Si \ 

annum, against 8{ pei cent. .1 yeai a I distribution 

will make 6J pei cent, foi the yeai against 5§ for 

tin yeai i''"'i and it may be noted that this distribution 
is equal to the best ever made bj this company in any year. 
Some authorities appeal to have expected more, but the 
accounts will prob fact thai surplus profits 

been utilised foi directlj 01 indirectly. 

I equal to the best perform; 

omparatively prosperous railway can scarcely be re- 

i by the shareholders as unsatisfactory. Foi certain 

markel authorities to suggest that this is disappointing 

only shows how perfunctory a view is often taken ol British 

railwa • rda} the I ireat I astei n, the South 

:n and Chatham dividends were announced. The 

first-named was at thi . '. per cent, per annum. 

against 4 per cen nd was not fully up tn 

market hopes, which 

ever, in addition, £ic,ooo 1- carried to mari 
fund, 

1 ard These figures indicati 
I,,, 1 h ■'. 1 been disti ibuti d I I ■ ral 

IIO is now ■ i 
tribui 

results wen tisfactory. 1 

., mem is to 
ineK . 1 per cent i 
paid upon the 6 

i st 5 1 per 1 ' 



THE RAILWAY TIMES. 



[Jai 



: i . i o 1 1 



was an excellent resull md equal to the best anticipations. 
The Chatham Company is also paying the lull 4. 1 , per 
on n- first Pi eferem e stock, the same .1- .1 \ eai age 

1] ■-'.. 1 '1 is being 1 aised from £39, to 

£71,900. In other words, £33,000, or, say, .'. per cent, 
(actual) for the yeai 1- added to the balam 1 avail: ble for 
the firsl Preference in the current half-year. Therefore, 
.) | pei ; ned upon this ;toi ' 

if distribute 1 foi I lie Imani ial yeai ended in |m e last . 
1 he ' I enue of the Managing Com- 

mittee was aboul £69,500 a very good outcome of the 
! eceipts oi ( 89,(100, as published. 



EAST LONDON ELECTRIFICATION. 

When the Metropolitan Distrii t Railway and the London 
lines of the Metropolitan Railway were 1 onverted to electric 
traction between five and six years ago, the proposal w 
mooted that the East 1 < >nde m Railway sin >uld be in 
in the scheme, but nothing came oi that. Since then the 
question of electrification has been talked about from time 
to time, bul various difficulties have nevei been overcome. 
I here 1 an be no question oi the need .it the change, as the 
line 1- a short one, most of it underground H passes nuclei 
the Thames in it-- course and it connects with the systems 
of tin I istern, Metropolitan, and Metropolitan 

District at it- north end. and with those of the South 
11 and Chatham and London and Brighton south of 
the river. The length 1- 5J miles from Bishopsgate on the 
north to New Cross on the south, and in that distance there 
are several intermediate stations, ["he East London Rail- 
> !■ < ompany do not work the line, that being done by the 
Brighton, Great Eastern and South Eastern and Chatham 
1 ompanies, while the Metropolitan and Metropolitan 
are also named as lessees. The traffic credited to 
the railway 1- not particularly great, as the gross receipts 
from passengers and goods foi the six months ended 
October 31 last, in accordance with the Railway Clearing 
House settlements, was £20,539. C msidering the situation 
• .I the railway and its connection--, there can be no doubt 
that electrification and the heart} co-operation of the 
lessee companies would produce a great increase in gross 
pts. Foi the last half-yeai the minimum vent of the 
railway which was paid amounted to £14,680, and after 
allowing for miscellaneous revenue on the one hand and such 
tl expenses as the East London Company incui on 
the other, there was a net > redit balance oi £13,699. This 
was barely sufficient to pav the interest on first and sei ond 
debenture stock-, so that the balance from the previous 
half-year's account had to be slightly encroached on. 
In the half-yearly report the direi tors say :- " The impor- 
tant question of the electrification oi the line or such 
portions of it as are necessary for the conveyance oi 
through traffic is still engaging the attention of the board. 
andasurvej by a leading electrical company is incoui > 
oi progress, b\ leave oi the Joinl Committee, with a view 
i" a report being made at an earh dan- accompanied by 
an approximate estimate as to the cost oi constrw tion and 
the working of the passenger trains by electricity. Hie 

Joint < ommittei in granting tins permission refrained In m 
committing themselves in any way at the present stage in 
m pei 1 oi the electrificatii m oi the line." ["hi 1 rouble 
about the whole thing is the cost. I In ( apital expenditure 

oi the East London C pany stands at ovei five and a hall 

millions, or just about one million sterling pei route mile 

oi the railway, ["his disastrous capital expenditure- 

probably the highest per mile of am railway in the countrj 

1 ; cleai that neithei electrification noi anything 

likely to produce a dividend on the ordinary stock. 

\t tin in ne the cost of electrification, especially il 

, were purchased from an existing upph company, 

would be small compared to the present capital. Such an 

revenue might be obtained as would enabli 



the leasing companies to p; v a rent which would enable 
something more to be paid than the present interest, 
["he a count, s how that £1,200,000 oi capita.l exists in 
the shape of third charge and fourth charge debenture 
stock on which the 1 ompany pa terest. 

The passengei traffic likely to follow 

1 he pro\ ision 1 d the fast and frequei 
might suffice noi interest on the new- 1 

required but to improve the posit ion oi e: 
fourth chargi deb ntun stoi ks 

Weekly Traffic Summary. 

I I 1 traffii re< 1 apt- fi 1 the w eek end< d Jam 
iffii i illy published by the fifty-two prim 
the Tinted Kingdom, amounted to £1,945,3 

ed on 21,543 miles beii 1 te oi £90 1 

mile of line open. I ; < •< t in [910, 

the receipts of the -am lines amounted to £1, £93, 839 
with 21,465 miles open, or £88 \- iili ["here 

w as i in . m increase of £5] jig n the receipt 1 1 ;i 

of 78 in the mileage, and i n im n ise oi £2 1- =,<l. in the 
5 per mile. Thirty-six of the return- distinguish 
between thi receipts from passenger and goods traffic, 
and these show an im rease of £22,179 '"' l 9 s - : ''- P er rnile) 
in the passenger receipts, and an increase.- of £28,074 ( ,,! 

£1 .;-. Sd. pea- mile) in the receipts from a 1- traffii 

1 lie aggregate increase of the thirty-six railways foi two 
weeks in tin 1 receipts has been £23,753, while 

the aggregate increase in the g 1- traffii was £30.566. 

I lie aggregate receipts of the fifty-two railways foi two 
weeks (J muary 1 to [anuary is) amounted to£ ; 805,216, 
in comparison uith j 1,753,036 in the corresponding 
pea aocl oi last yeai ; n im rease oi £52,180. 



NEW ISSUES. 



CORDOBA CENTRAL RAILWAY. 

Subscriptions were invited during the past week for an is-m- 

;il noi per cent, ot ,£500, five, per cent, second debenture 

stock (original linel ol the Cordoba Central Railway Company, 
Ltd. I he stock is. secured b\ trust deed, and ranks as ;i floating 
charge on the company '- original line, its revenue, rolling-stock 
and equipment, subject to the charges in favour ot the ^400,000 

live- per cent, debenture stock (original line), the £$,< 

four per cent, consolidated debenture stock (central northern 
section), and the ;£ 1,200,000 five per cent, second debenture 
-lock (central northern section), and i- redeemable at any time 
an 1 December 31, 1015, til £"105 per cent., on six months' 
previous node., or .a an\ lime b\ purchase in the market or 
l,\ lendei at 01 below par.' 

KENTUCKY TERMINAL. 

A prospectus ha- also been published asking subscriptions 
for ,£.'1, c>ii .oi 10 ol Kentuck\ and Indiana Terminal Railroad 
Company tir-i mortgage 4'. per cent, sterling bonds, due- on 
|anuar\ i, 1061, with principal and interesl unconditional!) 
j.ijoiii, 1 ,1, jointh and severally, b\ the Baltimore and Ohio, 
Southern, and Chicago, Indianopolis and Louisville railway 
companies. Principal and interesl are pavable in sterling in 
London. Messrs. Morgan, Crenfell tend Co. offered the bonds 
for sale at no. Ilea arc pari of an authorised issue ol 

:, , and wen issued Im the purpose ol retiring the 

existing mortgages -\ 1 1 the company's properties, the con- 
strue tion ot the new bridge over tin- Ohio R i\ ,p . .end otherwise 
enlarging .aid improving llle terminal facilities in and .about 
lb,- citv ol Louisville. According to their published returns 
an tin vear ending |une ;o, 10,10, the net earnings, after meet- 
ing tin fixed charges oi the three companies guaranteeing the 
bonds, amounted togethei to $22,866,185. 

Electric Traction in Russia \ telegram from St. Petersburg, 

dated [anunrv 18, to the Financial \r.,,. states that the first 

wards the introdui tion ol electric traction mi the Russian 

r;l ihva\ svstem has been taken b\ the Mosoow-YVindau- 

Rvbinek C pany, tin electric lix-oiiiotive having been pat 

into -■ ivie e for expei imontal pm posi - 



Hll [.] 



I Ml R \II.W U I I M I S. 






MONEY AND STOCK 
MARKETS. 






- 






I 
j 






















million 
















. 



























| ' )'■ 






















- 








































. ineiro exchange 


















(M. 


,=>!■ 


ts. i 






IS. 1 


is. 9 
















6 per cent., Jan. 2, 190S. 24 


percent. Apr. 14 


1909. 3 per c 


;nt. Feb. 10. 1910 


Jan. 16. 1908. 3 


Oct. 7 


1909. 4 .. 


Mar 


5 Jan. .'3. 190S. 4 


Oct. 14 


1909- 31 .. 


June 1. 1910 


j* .. ., Mar. 5. 1908. 5 


Oct. 21 


1900- 3 .. 


June 


.. Mar. 19. 1908. 4j 


.. 


1909- 4 .. 


Sept 


21 .. ., May 28. 1908. 4 


:: :: 


1910- 5 




3 .. .. Jan. 14. 1909. 3i 


1910- • 





Some weeks ago we said in this column that it was more 
likely that the market rate would approach the Bank rate 
than Events have fully borne out the predic- 

tion. The official minimum remains al .\' : per cent., while 
the market rate is nov I week's Bank return is 

quite satisfactory, and in itsell would have justified a 
•ion in the rate: but the directors continue to follow 
the cautious polio which a broad view ol the monetary 
ces. Foreign demand foi bar gold still con- 
tinues, and, consequently, the Bank augments its supply 
only slowly, and it is probable that furthei Indian require- 
ments will have to be met later on. Although then 
some disappointment that the rate was maintained, it is 
i< iter that the present rate should continue until the 
Bank is in such a position that there need be no apprehen- 

il a sti in-en. \ later in the yeai . I he great d< 
turn is not cheap mom deuce in a continuation 

ite. This condm es to stability in 
the Stock markets, and frees commercial operations gi 
all) Irom anxiety that unsettled monetary conditions 
always entail. The Reserve is again higher this week In 
^2,243,000, and the ratio has risen Irom 17.83 to 51.23. 
This is mainlv the result ol the return ol cash Irom (Im- 
prove though the stock ol coin and bullion has 
increased l>\ /.i. 761,000, only y.260,000 came in irom 
■ is also thi 000 in the 
1 note circulation. Public Deposits have in< 
owing to the inflow . 1,291,000. The 
market has continued its repa ments to the Bank, and 

'Other Securities are down b; 

On the Stock Exchange the week has been 

terest, although it has not, on the wholi . 
particular!) satisfaeton to holders. I asl 
markets finished in sturdy fashion, and all signs pointed 



than I 

I lome Raib 

all unfavourable to I10I1 

w hich had in en rather n< 

other small ii 

ll\ displav ed m, and Hon ■ 

parti' 

deiid the first announcement for thi 
nearly up to the best 1 
^10,000 to the electrical renewals Kind. 
with the lij 

t loog, and 
and N'orth V 

rails anted. < )n Wednesday thi 

movement. Consols were steady and Homi 
only slightly affected by thi 1 

diati Pai ifics fell 58, 000, 

inch th<' market was apparently 

I 1 link increase of £1 j.ooo had, howi ver, littli 

I hursday 's markets wen 

movement, which increased when it was known th; 
Hank rate was to remain al iA per cent. Changes were 
not pronounced, but there was an all-round decline. Home 
rails suffered fro king, the 

The Tilbury dividend left the pi 
changed. 

yesterday's market-, were irregular. At the op 
were maintained, but gave way sharply to 
mid-day. Consols drooped. Home 1. 
1 1 L das fell away as the day advanced. < .re.it I 

the dividend, which disapp 
market, although the resull is by no means had. tl 
on the present price be 
South Eastern dividend and the Chatham stati 

A to ralK sharplv, and towards the clos 
lines recovered somewhat. On the day, however, all but 
ham and South Eastern are lower, I 

S'orth W ■ lown, and C, 

as the intrinsic position is ex ellent, an ■ 

.,,1 w ith some confidence . but it is 
! nisi, railway stocks will beci 
,e political outlook is , 
1 
will quickh 

weeks, unsettling investors and des 
hich the 

courage. 

The principal movements 

N-.u, 

Do. Def. 1 



1 

- 

— 



56 



THE RAILWAY TIMES. 



[J 



ANUARY 21, I9I I. 



Kami of Stocl 
Great Western .... — . 
Hull and Barnsley — . 
Lancashire&Yorkshire — . 
London Br.it S. Coast ■ — 

Do. Deferred .... — 
London Chat. & Dover — 
London & X. Western — 
London & S. Western — 

Do. Def. ( on. Ord. — 
London. Tilbury, &c. 1 

Metropolitan 1 

Metropolitan District '. 
Midland Def. Ord. . . - 
North British Pref.Ord. J 

Do. Def. 1 Ird — 

North Eastern Cons. \ 
North Staffordshire 1 
South Eastern .... — 

Di Deferred .... — 

Tar) Vale — 

Colonial Ra 
( Canadian Pacific . . 1 ' 
GrandTrunk of Canada — 

Do. 4 p.c.Guaranteed — 

Do. i- f Preference — 

Do. 2nd I'm !• rem e 1 

Do. 3rd Pn iii. m 

A merican Railways. 
Atchison Common . . ' 
Baltimore and < Ihio . 1 

,1 ake .mi] < Ihio \ 
Chicago Gt. Western 1 
, S. Paul 3 
Denver & Rio Grande 1 1 

Do. Preferred .... 1 
Erie Common ; 

Do. 1 5t Pre fen no i{ 

Do. 2nd 1 'i 1 ten ni 1 

Central .... 1 .'. 



Name of Stock. Rise. 

Louisville & Nashville 3 

Missouri Kans.&Texas — 

New York Central . . 1 

N.Y.. Ont. & Western — 

Norfolk & Western . . 4I 

Do. Preferred .... — 

Pennsylvania ] 

Reading Common .. i\ : 

Southern Pacific Com. 1 5 

Southern Common . . — 

Do. Preferred I 

Union Pacific \ 

Do. Preferred .... — 

Wabash 5 

Do. Preferred .... il 



U.S. Steel Corp. Com. , . . 

Do. 7 p.c. Cum.Pref. 1 
'Foreign Railways. 
Antofagasta Def. Ord. 1 
Argentine Gt. Western — . . 
BuenosAyres & Pacific — .. 
J iuenosAyres Gt.Sthrn. — . . 
Buenos AyresWestern — . . 
Central Argentine .. — .. 

Do. Deferred .... — 
I ent.l ruguay of Mont.— . . 
CordobaS Ros.istPref. — . . 
Cordoba Cent. 1st Pn ' 

Rica — 

Cuban Central .... — 

Leopoldina — 

Mexican Southern . . — . . 
Mexii an Ordinary . . 1 \ 

Do. 1st l'l'et., 8 p.C. I 

1 ii>. 2nd Prei , 6 p c. 1 
Nitrate < Irdinary. ... — 

Do. Deferred ... — . . 
Ottoman(Sinvrn.i to Aidin — . 



BANK RETURN. 

I'hi return of the Bank of England for the week ended 
Wednesday, Janu.in uS, compared with thai for the previous 
week, shows the following changes : — 



mm. 



£ Liabilities. 

3,423,(1 '1 Rest 

1 I, :'..«_', ::.i'J Public Deposits .. 

1. - i.-:ir. Other do. 

3,082 7 Day Bills 

Assets. 

11.,' 17,9 15 1 lovt. Securities . 

■ Other do. 

_'.'., 'U-.l'.lfi \"tr- 

UI18,'281 1. old and Silver . 



3.451,811 8,484,516 

8,765,981 10,057,(169 

10,283,727 411,11:1:1, tin 

38,233 17,584 

15,399,568 

28,186,526 27,524,597 

22,567,215 24,841,440 

884,449 854,019 



26,911,426 Eti 

50.75 p.c. Ratio .. 

::' p.c. Bank Rate . 

2] ' p.c. Market Rate 



28,451,664 


2;.,i.;i.-,i 


17 83 p.c. 


,1.23 p 


41 p.c. 


I 1 P 


.1, p.c. 


1 [ 



Increase. 


Decrease. 


£ 


£ 


32,699 




1,291,088 






200,317 


14,351 


— 




Increase. 


444,075 


— 


661,929 






2,274,225 


..11. 11 in 


— 


2.474,542 


2,474,542 




Decrease. 


2,243,825 









ISSL'E DEPARTMENT. 



Increase. Decrease. 



£' 


£ 


£ 


I 


£ 


Coil and Bullion 


32,015,340 


33,807,215 


1,791,875 




Notes Issued 

28,1X13,850 "Circulation 


.. 50,465,340 




1,791,875 




., 37,898,125 


a7,415,775 


— 


ls2,:t,-,ii 



Cambrian Main Line Improvements. II,, secretan oi thi Cam- 
brian Railways informs us thai ,ln directors, acting on the 

in hand a number i>l important improvements, which include 
th< doi 1. lin. between Moal Lam and Newtov 11 a 

distant-. i>l mill- live miles- the conversion oi Llanfihange.1 
Station into a crossing pi: ice, the provision of a down platform 
,. lengthening ol the up and down platforms al 
Cemmes Road, and the conversion ol I'ontdolgm-h Station into 
,11 mi, rim tliate tablet station. 

Laboui Opposition to Railway Hills, h is reported in various 
daih that tin Laboui Pai tj in Parliament intend 

to continue the tactics ol opposing Bill's promoted b\ railway 

panics- until the latter m.-d icessions to the demands ol 

I h< Bills, ol . oursi . have no n ference to 

such disputes, but from tin I-ibour Part\ [x>inl ol view thai 

,1 matti r. In psu ticulai ii is said that tin Kill- ol the 

ern and Midland < '1 mipanii - « hich si • k pow ,1 to 

construct n< « railways ;ir<' to he nppi.se, I until a pledge is forth- 

'fievances ol the men regarding the inter- 

pretatioi 1 'I- under 1 ! nciliation schenn 11 1 

atti ii'l' d i". 



BRITISH AND IRISH RAILWAY DIVIDENDS. 



The following table shows the dividends on the ordinarj 
stock, uniess otherwise stated, ol the leading English and 
Irish railways for the half-year ended December 51, and by 
tin Scotch companies for the half-year ended January 31. 
For convenience oi comparison, the dividends for the corre- 
sponding half of the previous years are also shown. 



Name ot 
Company 



Second Half. 1909 

Balance Rati Ba ■ 

brought p.c. per carried 



Second Half, 1910. 



Balance 


Rate 


Balance 


brought 


p.c. per 


carried 


111. 




out. _ 



Bala and Festiniog £220 . . 4J 

Barry 1.527 . . 6i 

Belfast & Co. Down 2,600 .. 6i 

Brecon & Merthyr 1.325 . . 4 

Caledonian (def.) .. 14.233 ..nil 

Cambrian 287 . . " 

Cardiff 26,649 . . 3 

Central London 3:1.000 . . 3 

City and S. London l.SiiiS . . 1 ,' 

Cork Bandon & . S.C. 1,900 .. 3; 

Dublin and S.E. .. 5.447 .. </ 

Furnesa 1.453 . . 1 : | 

Glas. &S W. (def.) 9.158 .11 

1 Irea 1 Central 4,400 .. k 

Great Eastern 19,285 .. 4 

Great Northern (def.) 24,762 .. 1; 

G.N. (Ireland) 35.572 . . 6 

G.N. of Scot, (def.) 2.501 . . m7 

Gt. S. & Western 30,984 . . 5 

Great WeBtern .... 74,400 . . 7 

Highland 6,630 . . I ; 

Hull and Bamsley 23,164 .4', 

Isle of Wight (def.) 191 . . 4 

Lanes, and Yorks. 22,811 .. 4[ 

L'pool Over, (pref.) 4,696 . . 1 

Lond.B.&S.C. (def.) 21,900 . . 4 

L. C. &D. (1st pref.) 769 ..41 

London & N. West. 113.0(10 .. 7 

London* S.W.(def.) 28,856 .. 31 

Lond. Tilbury & S. 2,893 . . s( 

Maryport and Carl. 1,288 . . 6 

Metropolitan 3,904 . . 1 

\l, 1 Dist. (guar.) 359 .. 4 

Midland (deferred) 24,360 .. 31 

Mid. loeat Western 3,967 3 

North British (def.) 22.271 .. 1 

North Eastern 80,400 . . 7 

North London .... 5,370 .. 4 

North Staffordshire 9,000 . . 11 

Port Talbot, 139 . . 3 

Rhymney 17.577 .. 91 

South Eastern .... 11.247 . . 5 
Stratford & Mid. -luii. 1,405 .. 2 

Taff Vale 27,768 . I 

Vale i,f Glamorgan 451 . . t, 

,( \ttrl pl.t, ,!,- I .'.S'-, '" « i; 

1," lew .,1- ' Vn, 1 pla. ine £2,040 t, 

U.ll .,,,.1 I, pi. , l.lllMll I1111.I . Ut, 1 1 

1 10, -1 ,1 renewal; k Kull dividei 

prel -:■■ 



. 214 


£196 . 






. ,3.290 


1,807 . 


II 


. . 2.254 


.»i;.i4o 


3.274 . 


7 


. . .11.(111' 


. 424 


1.134 . 






yd 2.1 II i4 


18,152 . 






. 6,421 


5,334 






.16.271 


5,876 . 






633,242 


10.071 ( . 


3 


.1)33,645 


. (2712 


1,634 . 


1 , 


. . itl,788 


.,3.53s 


2,289 . 


2 


. . /,:',, 541; 


212,147 


11. 22(1 . 


1? 


.,13.(17:; 


2,098 


1.523 . 






.,,'(. Ills 


9,330 






. 7.577 


[6,600 . 






.98,720 


20. ins . 


4i 


j/100,000 


j'67,149 


79,964 . 






. .51.100 


38,400 . 






. 2,996 


5.50 4 . 






pS4,820 


33,419 . 






. .'.is. soo 


Hi, .1102 . 






. .10,2117 


7,128 . 






. .10,041 


2II.23S . 






.. 1.741 


204 . 






. ,38,693 


23.044 . 






. . 4.1,14 


5,917 . 






. .38,861 


25,469 . 






. .39.137 


4,768 . 


41 


.. 71,907 


1)118,517 


100,000 . 






. . 32,852 


32,009 . 






.. 4,013 


2.24H . 


. 81 


. . 3,900 


.. 1.800 


1.313 






. ,2t5,927 


6,044 


. 11 


. . (9,499 


. . 942 


8,527 






100.203 


.ii,. 123 






. 16,228 


5,392 


. 3 


..,1(1.500 


,,20.511 


27.856 






. .96,500 


85.476 






.. 4.111s 


6,300 






. . 10.541, 


10.(152 






30S 
. .17.374 


1.239 






20.420 


. 


. . 10,800 



4-TTT. 



4S6 



1 111 h al ic, ount and £1 too to 
Mtei pla, ing I (oo t, • 

1, . ,, , pei cent pi r annum on 

_■ I : , 1,1 In, 111. 111 .111, , Hind. 

Mti 1 pla, ing , 5,000 t" , lei trical 
000 to res, rve 1 Aftei pla, ing 
hole yeai on the g pel cei 

« hoi vi 11 ""ii 



n I, 



pla 



1,111,1 1, \n, 
..' \ln 1 pla, 
account and 

„, in, 1.1 



North 1 astern Railwaj Dispute. \i a 
Conciliation Committee, on VYednesdn 
arising out ol [hi strike of lasl |ul\ 
was announced thai the whole ol thesi 
ol I,, the satisfaction ol the men. 



\ 1: 



1.1 1 pi 



1 After 
cent 



ng of ih, S I R. 
lumber oi matters 
considered, and it 
nets were disposed 



\UV 2 1, UJ II.] 



THE RMI.W \Y TIM) 5. 






SOME LESSONS FROM THE ORMSKIRK COLLISION. 

In our i-~ : I. with the 

above title, and now thai the B 

hat, in .ill respects bul • >m 
I Druitt's conclusions. He blames the signalman 
.ottiii^ the light-engini and foi nol using the clips that 
would have held the home signal lever and reminded him, when 
he w ished i" admit the express, thai 
the down main line. He also blanv s the drivi r foi n<>i w< 
to rule No. 55. Then, in our concluding remarks, wc obs< 
that track-circuits would have avoided this and similar colli 
"bul th ieir use «.hi onl) be justified in 

extremi ■ 1 ilonel Druitt, however, sa\s nothing about 

"blocking-back" so we assume thai Ormskirk i- exempted 
thai rule. In view <i the subsequent accidents at 
en and 1 law ■ ilso due to similar 1 

it might l»- thought thai Colonel Druitl would have said 

1 ked that 1 1 i -~ repoi 1 1 >■ ember 12. 

As it is quite likel) that when th< Board 
on the Willesden and Hawes Juni 1 issued there 

will bi therein to lot k-and-bli ck 01 

circuits, some explanation as t.i their purpose and use n 
. ice. 
The object ol lock-and-block is to guard againsl .t signal- 
man i i ? 1*- man in the rear that a train lias 
until such train has actual!} arrived, and to prevent the man 
in the rear lowering his gnal for a train t< 

ection until such train has 1m mi "accepted" on the 
.. th.- man in advance, \\ hich acceptance can- 

eding train. The first point is secured b) 
providing an electrical contacl i to the rails that 

it is di passing train. When s,, deflected a link 

that had been automatically inserted in the starting signal lever, 
when the latter was pulled to lower the starting signal, is 
withdrawn, and this allows for the Startil 

stored it cai - : \ parti) restored 

throw- the signal to danger it wholly until 

the contact is 1 1 : block signal 

may now be given. It thus follows that not until the ti 

1 can tlii- intimation be sent, ami, practically, it means 
that tin: train "clears" itself. The second point, 
admission int.. a section I bj providing a lock on 

the starting signal lever which is withdraw n when tin- signalman 
B, turns the handle ot his instrument 
the block signal "line cleat " is given to the box in 
A. This signal cannot be given b) B 
ow n si 

There are five or si\ ~ 
mostly used is that invented In Mr. \Y. R. Sykes in 187 
w hose S.Y.X. system is to be found all over the world. [I 
on 25 railways i:. this country, controlling rs. The 

apparatus of other inventors is onl iu-tallatioiis. 

ind-block is 1 Germany, Italy and 

rlaml. and I le in the I nited s : 

Havii • the large number of accidents due to 

irregular block-w • idi nts 

it will 1.. appreciated that lock-and-block must 

' its introduction « to have 

.llisions due to this cause. 

as while during a '5 there 

wire . of Trade to be du< wholl) 

or in "kin-, no such report Ii 

11 at Hillho 
I 11 I'hirsk, in V signal- 

man who had lost hi- rest ..win- to a child's illness, fell 
: .11 his post, and « ho, . 

awaki 

inquiry by most raihvay •' lock- 

and-bli - Marindin 

nended in his report, and a cop) was sent to all ti 
panies drawing attention to this. 

The system was alread) in as. so far as tin London district 
d, on the two lines which now form th. - 
ham and the Brighton, and has sir, 
install. Great 1 

and ! 

■ I whiNt it- 
adoption was up ti 
Trade, they have not ! 

The reasons for this should, I • • 

is that it is 1 ise in the apparatus 



eel la tux 

th British, i 

■ 

of the app a 
at a Si 

over the treadle ah. 

from ili. 

ide in w hi. h 
a l\ canci II. .1 and .. s, , | train admitl 

th< system. 

thai lock-and-bloi 

livided train and the fini 

1 w as in the section, as h ! ill and 

lint the principal reason is th; 

at B, when a second yoo.ls train ma) I f the 

. 

1 mile in ad home 

starting 
signal ai A, goods trains make -low progress. This latter 
is what lock requires. Similarly, while a 

train is shunting at B, 1 n 

:n cannot ]ea\ . \ 

I ■ circuits d-block, and 

w In re all 1 
in a s. : ing signal -' irting 

signal at B b) light I- 

ilows through the left-hand rails <.t a pair • 
and the rail bonds 
the right-han 
the relay joins up a local 

starting signal lever. Should any win el now 
the section, the wheels and axle won ' the current 

from the U would fall and i 

th. current from the lock on the signal lever, or. i 

signalling, would ■ r. (In 

passing, it 11 rked that a broken rail would similarly 

■ .1 the relax from ti 

nstitution that 
mtr) . It is ancient histor) now .. - 
is for this, hut it n taking 

' I 
Mr. J. P. O't 

way. The) [ 

and Lancashire and Yorkshire! The Midland, 1.1 
ami many other companii s ha . 

matic signals. \ 

the s i; , 

as without autom. 
upon 1 

I k-ciri 
where 

that m 



that mav remain on ill.' line. u «... .... 

had ,. 







5 3 THE RAILWAY TIMES 

THE HISTORY OF THE WESTINGHOUSE BRAKE.* 
By George Westinghouse. 



[January 21, 1911. 



It has been suggested to me that it would interest the mem- 
1 1 ii' Si. iet\ to have a short account of the conception and 
development ol tlie ah brake, to form an authoritative statement 
for the record* ol the Society, and as I believe I am chiefly 
indebted to mi work in developing the air brake and intro- 
ducing it upon railways for the honours you have conferred 
upon inc. I havi pleasure in complying with such suggestion, 
especialh as .1 statement "l the conception and development ol 
tin; nir brake will supplement what I have heretofon said in 
regard to the benefits t<> be derived from the standardisation 
• .I mechanical devk es. 

[Having detailed some ol his early ideas for applying brakes 
in. ill tlir < :ar - i.l ;i train, Mr. Westinghouse proceeded.] 
I was i ni Ilk i.l to subscribe for .1 monthly paper, and in a \. 1 j 

early number then was an account "I the tunneling ol M 

Cenis by machinery driven by compressed air conveyed through 
;. oi».lt of |ii|"-s, the then depth of that tunnel. This account 
1 us, ol compressed air instantly indicated that braki 
apparatus ol the hind contemplated lor operation b) steam 
could be operated by means of compressed air upon any length 
1,1 train, and I thereupon began actively to develop drawings 
ol apparatus suitable lor the purpose, and in 1 So; promptly 
filed a caveat in the United States Patent Office to protect the 
invention. In the meantime, I had removed from Schenectady 
I,. Pittsburg, where 1 met Mr. Ralph Baggaley, who under- 
took to defray the cost ol constructing the apparatus needed to 
make a demonstration. 

Ill,, apparatus needed fot a demonstration was laboriously 
constructed in a machine shop in Pittsburg, being finally com 
pi. 1. I in the summer or early autumn ol 1868. This apparatus 
consisted ol an air pump, a main reservoir into which air was 
to be < ompressed lor tin- locomotivi equipment, and four or five 
cylinders such as were to be put under the 1.11-. with the 
ary piping, all so arranged that their operation as upon a 
train could he observed. Railway officials of the Pennsylvania 
and Panhandle Railroads wen then invited to inspect the 
apparatus and witness its operation. \s a result, the superin- 
tendent of what was th.n known as the Panhandle Railroad, 

\1, W. \V. Card, offered to put the Steuben villo accom elation 

1, ,;,, ai my disp, ,al to enable me to make a practical demon- 
stration. The apparatus exhibited was removed from the simp 
iplied to this train, which ..insisted ol a locomotive and 
jour cars. l'p,>n its first run after the apparatus was attached 
to 1 he train, the engineer, Daniel date, mi emerging from tie 
tunnel neat tie I 11 ion Station, in Pittsburg, saw a horse and 
wagi n standing upon the tra< k. Tine instantaneous applit at ion 
ol the .air brakes prevented what might have been a serious 
accident, and tin value ol this invention was thus quickly- 
proven, .and the air brake stalled upon ;\ most useful and suc- 
cessful cat eer. 

In the development .and introduction of tin air brake, I was 
controlled la thi apparent la. t that the apparatus would have 
I,, he uniform upon all cars to provide for the convenient change 
ol the composition of trains. It also was most obvious thai 
some powei brake would incvitabh he universally applied to 
all ol th. cars and engin, s upon all railways Tin s<. id. is 
naturalh involved a Hi! Mi, t on, , nam. ly, the importance ol 
having all of the brake apparatus made by one company, sons 
I,, horn, absolute imi 1 1 ti 1 lit \ and consequent interchatigeability, 
I- led to tin formation ol the Westinghouse Air Brake 
Company early in 

l"li'. essential parts oi the air brake as first applied wen 

a \u ait pump driven by a steam engine receiving its 
supply from the boiler oi the locomotive. 

.. \ main reservoir on the locomotive into which air 
was compressed to about 60 01 70II). pressure per sq 
\ pipe |, ading from the 1 ^n voii to a 
nntchanism convenient to tin , ngineer. 

/ IP. ,P, , '.dad, 1 - for th, t. ml. 1 and ra< li 1 ar. 
,' \ |ini ol pipe leading from tin brake valve undet th. 
tender and all ol the cars, with a pipi connection to each 
brake cvlindi 1 . 

(/) Flexible hose connections h, tween the cars provided 
with couplings having valves whii 

opened when the I WO pails ,,| III, , 

and automatically < losed when the . 01 
so thai the \ alve ol the . oupling a 
was always < losed and prevented tl 

inn odiu ed into tin bi ike pip, 



I'o 



I : .... . 1 , 


Illlol 


italic. 


,11'. 


rouplings 


W el ' 


jotr 


ed, 


.iplings w. 




pa.al 
he ti- 






Ol a 


ll w 


Kit 



The piston ol each cylinder was attached to the ordinary 
hand-brake lever in such a manner that when the piston was 

thrust outward by the admission of compressed air, the brakes 
were applied. When the engineer had occasion to stop his 
train, In- admitted the air from the reservoir on the locomotive 
into the brake cylinders through the train pipe. The pistons 
oi all cylinders were, it was then supposed, simultaneously 
moved to set allot' the brakes with a force depending upon the 
amount ot air admitted through the valve under tin control ol 
the engineer. 

To release the brakes, the handle ol the brake Valve was 
moved so as t,, cut ofl communication with the reservoir., and 
then to open a passage from the brake pipe to the atmosphere, 
permitting the air which had been admitted to the pipes and 
cj lindens t, > escape. 

The sit, .ess ol the apparatus upon the first train was followed 
by an application ol .n\ equipment to a train ol six ears on the 
Pennsylvania Railroad, and in September, 1869, this train was 
placed at the disposal ol the Association of Master Mechanics 
representing numerous railways. The train was run to 
Utoona, and the air brakes were used exclusively for controlling 
the sped of the train on the eastern slope ol the Alleghenios, 
and special stops were made at the steepest portions ot the line 
iii such ;m incredibly short distance as we all thought then) 
as to establish firmly in the minds ,,f all present the fact that 
trains coule) !»■ efficiently and successfully controlled by means 
of brakes operated by e. .1 11 pn '-se.l air. 



r&i £5l 







: R VA LV E 



in nddr, bi Mi 
Mechanical Engi 



mi th. 



to the 



,.• hi 



First Form of Hose Coupling with Check Valves 
"Straight Air Brake of 1869. 

IP next event ol import an ln was the application ol the brakes 
in November, 18(19, '" :l longer train of ten cars upon the 
I'ninaK.iiu.i Railroad, which was taken 1,, Philadelphia for 
the purpose ul demonstrating to the directors of that railway- 
tin- success nl (he apparatus. The tests brought to the train 
mi the next da\ Mi 1,, ma;,- |„ Dunlop, the general superin- 
1, ndi in ..1 id. ( li ■ iigo and North Western 'Railway. I he 
result ol his inspection was an invitation to make a demonstra- 
tion upon his railwa\ in Chicago. The apparatus was then 
transferred to a train consisting ol a new locomotive and six 
new 1 us, and this train was run to Chicago, and a number ol 
tests were 1 1 u li led i, 1 1 1 'I \ allerwards made upon the tracks of the 
Chicago and North Western Railway, evidently to the entire 
satisfaction ol those present. From Chicago, the train pro- 
ceedeel to Indianapolis, where other tests were made, and then 
• Pittsburg. 
lb, out, nine ol" these demonstrations was immediate orders 
foi equipment for the Michigan Central and the Chicago and 
Nonh Western, and shortly after for the Union Pa, ill. Railway 
in the West, and for the Old Colony and tin Boston md 
Proviel. nee raids in the Fast. 
Works we,,, built in Pittsburg for the manufacture ol the 
and were lined with the best tools obtainable. 
,,,, ,' were adopted and adhered to in (hi parts of the 
ppu.uu- which required uniformity in construction in ordet 
l„ insure inter, hang, ..I the rolling stoi I. so lined upon various 

loads. 

Il soon developed that it took considerable tune to apply the 
brakes with full fore, and a long, r timi to release them, and 
thai in the event ol a brcak-in-two oi a train (a frequent occur- 
,,-n, , in those davs the rear section would be uncontrolled. lo 



,pp 



JANI \ky 21, I9I I.] 



THE RAILWAY TIMES. 



59 



- difficult} .1 new development was necessary, the 
outcome "I which w.i^ what has since been known 
iu.it iv air brake. 

In the auto ike equipment there were thi 

air-pun ir, train pipe and Draki 1 

in in these there were two important features added i" 
the tender and ea< h car cqui| 

I, .i 11 iple \ alve 1 
between the brake pipe, bi aki 1 

Thi- triple valve w.is so constructed that « hen air was admitted 
in the train 1 »i 1 ►* -. an opening was established between the train 
pipe .niil the auxiliary n 5 by the train pipe and the 

ii were filled with air under pressure, ["he valvi 
opened .1 passage from the brake cylinder i" the 



is fitted in th< 

mi tin l 

by ilr 
In 

iibilitj ..I the applii 
nmitiee inaugurated wh 
! 

fitted with air braki 

with ■' va< iiinii brake and 

ni ..ii 11 Each < 

I h< sc tests proved thi 
matic air brake then pres< nted 




i .— 



Westinghouse System Non Automatic Air Brake. 1869. commonlylknown as the Straight Air Brake. 



were off. To apply the brakes, the engineer dischan 
portion ol the air from the train |>i|>'-. whereupon the triple valve 
I the connection between tin 1 brake |ii|"' mil tin n 1 
■ tween the brake cylinder ami the atn 1 I Mini 

from tin- auxiliar) to the brake 

cylinder, the piston of which wi itwardh by the air 

from tin- auxiliary reservoir so as i" apply tin- brakes. The 
linn nf the pressure within tin- brak< |ii|» released the 
- ■ i tin- resen oir. rhis de\ elopmenl • * • 
during 1 872 and 1 

The automatic brake »:i- at that time supposed to !»■ in- 
ctantam in npph in ; and almost 



It becoming apparent that the lack 
was d il i\ • \\ slow 

upon tin "11 portion ol -in tra cl of which was i" 

si like collisions, .1 1 
iin-iit was imperati -. 
handling 

\s 1 part of the automatic air-braki 
had developed in tin cm of train signalling in\ 

tin- usi pipe, which is now in general usi 

all in" tin- railways. This signalling apparatus had a >■ 
valve device connect II reservoir upon tin- locomotive, 

aii'l these wi 




PASSENGER 



BPi ' 



ENGINE 



The Westinghouse Automatic Air Brake. 1872. 



- in ri leasing them. In thi event 11 tin cs< ape of 
air from the train pipe- In its rupture or by the separation ol the 
train, the air stored iii the an instantly and 

automatically applied the brakes to all parts ol the train md 
tin \ could in released only !>\ repairing the damag 
ing th. : 
by the train men. Th.- automatic brake h 1 1 itself 

• 
it sihiii be indard. 

I ■ gradual in< ;■ 1^' in thi ins .mil the 

numerous accidents due in lack ol 

that automatic air brakes should in- mad< 

!■ lit ..f all tl ■ mill.- til.- |M 

bility of th.- auton 



ndmitli 'I through 
the |ii |>. 

■ 






of air within 






6o 



THE RAILWAY TIMES. 



[January 21, 191 1. 



Being fully impressed with the idea that if the wave ol air 
which was utilised for signalling could be made to operate 
the tripli theri \\ ould then b< an aim 1 

instantaneous application ol the brakes upon the front, rear 
and other portions ol the train, this idea, with hard work and 
>er ol experiments, shortly produced what is now 
known as the quick^action automatic brake. The Westing- 
house train was left at Burlington in order thai the new triple 
valves with the cjui< k action attachment could be applied and 
further experiments made. The valves, as developed foi this 
emergency, proved to be successful, and the tests made with 
this train alter their application were eminently satisfactory to 
the railway officials. It was thereupon arranged to tal 

Minneapolis and St. Paul, Milwaukee, Chicago, M. 
Louis, Cincinnati, New York, Albany, through to Boston md 
\, « England, to Washington, and then to Pittsburg, in- 
numerable demonstrations being made during this journey of 
some thousands ol miles. This train, drawn b) two loco- 
. was frequently run at speeds about fifty miles an hour, 
and the tests were witnessed by all the prominent railroad 
people of the country. So great was the demand for good 
brakes on freight trains that considerable difficulty was ,u hrst 
need in promptly filling the orders oi railway cotnpaiiii ;. 
Nevertheless, the wide publicity given to these tests, coupled 
with a public demand for the adoption of means to prevent 
ae< dents, brought about the enactment ol a law by the !\,n- 
gn - obliging the railways to apply brakes and also automata 
couplers to all freight trains in the I nited Males. The quick- 
, [on automatic brake was operated like the first automatic 
brake for ordinary train movements; the quick action resumed 
only when necessary to apply thi brakes for an emergency. 



Tin Air Brake Company, to spread information mure effec- 
tively, about fifteen years ago constructed and equipped a 
special instruction ear in which wen arranged 50 sets ol brake 
cylinders and pipes equivalent to like apparatus upon a freight 
train. This ear was provided with a boiler to drive the air- 
pump for the production of the air under pressure needed to 
operate the brakes. Operative models of all parts of the 
apparatus were shown in section so that their construction and 
operation could lie more quickly comprehended. This ear, in 
<li. a.;.- ol experienced instructors, was moved from place to 
plaee, and engineers, firemen, conductors, ami other train _m- 
ployees in general visited it to familiarise themselves not inly 
with the operation of the brake, but with its construction, and 
in this manner there has Keen developed throughout the country 
a knowledge of the air-brake art which has proved of inestim- 
able value to the railway corporations and their patrons. The 
records ol the Westinghouse Air Brake Company show that to 

I nber 1, [910, their instruction car had travelled iver 

11 [,000 miles. Numerous railways have also provided their 
own instruction ears, so that it may be safely said that every 
railway employee having anything to do with the operation of 
trains, freight or passenger, has been required to familiarise 
I11nis.lt with the workin- oi the brakes and so to study the 
subject that he 1 ould pass an examination, 280,258 employees 
having so fai been examined In representatives of the West- 
inghouse Vir Brake Company, and in numerous cases these men 
have been required to show sufficient knowledge ol the brake 
to entitle them to receive certificates of their proficiency. 

At a banquet given in Washington to the members of tlie 
International Railw.n Congress in May, 1(103, a diplomat, in 
speaking on the subject ol the importance ot railway brakes, 




The Westinghouse Quick Action Automatic Brake. 1887 



No soonei had the quick-action automatic brake been 
developed to operate sucessfully on trains oi fift) cars than new 
conditions were presented. Steel freight ears 1 ai rj ing enormous 
loads had in the meantime been developed, and freight loco- 
motives had In ' 11 nu nosed in rapacity, -so thai trains wen often 
composed ol o< rs, and more recently somi trains have 

had as high as 100 cars. This possibility bad, however, been 
lores,,!!, nnd experiments were constantly being carried on so 
10 improve the apparatus, that it could be used to control trains 
oi .in- practical length; and these experiments also had n 
new the more nearly instantaneous action ol tie brakes foi 
ordinan service purposi - than was possible with the automatic 
1,1 ok- or with the quick-action brake. The result was a most 
impoi tanl development. 

I !i present improved triple valve has the emergency feature, 
but it ako has w hat is known as the quick-sa rvice applicafi m 
n . thai is, for ordinan purposes the air is admitted to 
all the brake , ylindi 1 - ;o qui. 1 1, that tin longest freight 
train < an be hnndl< 'I ■■■ ith almi ,sl the precision obtainable in 11 
control of passenget from six to twelve cars, 

['he requirements luring hi past few \ ears, by reasn m i>l 

the greater w eight of cars and I of tin higher 

spec, Is : ,i w hicli they in 1 tin, ha\ i- neo ssitati d thi re-di ig 

,11 i hi passi ngi 1 ti ain-bi aki appai at us. Foi 1 hi 

n nop'; thi highest , tli, icni \ . even, w heel •: , 

1111 including ibos, mid, r Ihi locomotive, is now 

1 : ij. ile p ,si twelve months, most 1 laboratc tests ,,l ,h, 

for passi 1 a. o 1 bei n 1 arried 

fl ial ri 1 era] railwa; and ,1 

tin Wesl ' ■ pany , in < >rdci to provi 

, ,p, rativem • - n msti uetii ins and their rnpabilih In 



id he felt safi in saying the air brake bad saved more lives 
.in any gi neral had e\ ei l< isl in a great battle. 
I ne spoken ol foui chief developments. It has been neres 
try, in order to avoid disastrous consequences, that each 
velopment should be of such a kind that cars fitted with 
w,r apparatus could operate with little inconvenience with 
us fitted with earlier apparatus. \s it stands to-day scarcely 
o ol thi old type ol brake and the lirsi type of automatic 
aki ire in use, but should a car fitted with the first form ol 
itomatii brake be found and put into a train with the more 
oil, in apparatus, such older apparatus would be found to 
lerate fairly well with the more perfect form. The prevailing 
ea in the development and introduction ol the brake has there- 
1 , bei n an adherence to such uniformity oi apparatus that the 
torchangi of traffic ovei various roads could go on uninter- 

ipledlv. 

In 111; estimation there could bi no better illustration of the 
ihn ol the maintenance ol standards than has been given by 

. ,, tin, and lull e.llli t'lOll I 'I ail b lakes upon 1 ailw a\ S, 

<r without sin h standards train brakes would not hoe come 
in general use, with consequences which railway officials 
id thi public can well appreciate. 



Railway Coal Contrails. \li,i much negotiation, the Midland, 
North Eastern, and Lancashire and Yorkshin Railway Com- 
panies came to an agreement on Wednesday with the South 
Vorkshin coalov ners as to the prices i, be paid foi coal under 
contracts foi the present year. Last year 1 prices were fixed 
on the basis of os. 3d. per ton foi the best Bat nsli \ hard 1 oal ; 
that figure h 1 reduced to 8s. od., so that a material 

1, duction in the big coal Mils ol the railway companies concerned 
is ensured. 



January zi, 1911.] 



THE RAILWAY TIMES 



..1 



THE FATAL COLLISION AT 0RMSK1RK. 

Neglect to 1 I Non-Oiiservance ok Ruu 55. 

Lieut .-Colonel Druitt, in Hi- rep Hoard ol I 1 ■ 

the causes "I the double collision which occurred on \ 
ber 25 between n passenges train and a light ei 
rail motor train and .1 ich, at Ormskirk, 

shire and Vorksire Railway, 
"The collision was due to signalman Donalds' 
the light engine, and i<> driver Hall omitting to send his fire- 
man back to carrj out Rule 55, although < 1 quite 
Fifteen minutes on the down main line before the ci 
occurred. D0n.1l.l-. naiman of long experience with 
an excellent record, and his mis 

result of over-confid Tin-. s,, that he omitted to use thi 
clips supplied in the signal box for usi when the down line was 
blocked by the light engine. I think il would hav< 
working 

the shed sidings until the arriva id then 

he would lir q the up line at 9 

and put ii into the upsidings, whereas b\ letting 11 out at 
9.22 p.m. he was bound t< 

minutes could deal with it. The red light on the lighi 

was in Full view ol the signal-box all the time, 
d the line straight. 
" I)ri\ 1 M hat when passing the signal-box on 

coming > -li t of the engine shed sidings he understood signal- 
man Donalds lat he was to go to the top ci 
and stand there until the motor train had passed. He di 
and stood for fifteen minutes without 
the signalman thai his engine was standing on the down 
line. Il<- states he had not felt easj in his mind ab 
so long on the main line, and had jusl told his fireman 
to the signal-box to carry out Rule 55, when he saw the 

g. I am •. ith his 1 x< 

not sending the fireman earlier, as although there- is a 
similarity between the words ' boat ' at 

out from a - he had realh underst I the 

signalman t 1 sa\ 'moti 1 5 no spi cisil 

as the ' mot< r ' tt 
■ up line. Rule 55 : ~ quite di finiti . rind 

sending the fireman to the signal-box imn 1 ming 

1 1 1 knew quitei well he should hi 
fireman to remind the signalman of the light engi 
quite ten m" the collision occurred i.e., imme- 

diately alter the Flei : train had . q p.m. 

The usual working was to cross this light engine at thai 
either at the cross-over road a1 the north end ol the station, 
or at the end at which it was standing. When Hall - 

;s approaching he behaved verj well ; he stuck to his 
rsed it, and put it in steam, hoping 

did not come to a stand 
lision until it had gone 400 yards ahead with one pair of 
ill the way. Also, after recovering h'msell 
and seeing the motor ear approaching in the up 1 

it, and so li second colli 

"This - in which I consider il necessary to r< 

mend thi ad - ppliances, such as f< 

hars or track circuiting the rails inside the si ition limits 

igine was standing with its red tail lamp in full w ,\ 
of the signal-bi \. and if signalman Donaldson had 
the clipsl provided to remind him "I the lighl engine standing 
on the down line, or if driver Hall had 1 
the Fl( train had g llision won! 

have occuri - 

\ Ml MOR win M. 

The down line through Ormskirk runs approximately from 
north to south. At the north end of the station are the engine 
shed sidings, which are connected by a traili f to the 

down main line. At th : s end of the station there ai 
up sidings connected b\ a trailing connection to the up line, 
and between these two connects i-over road I" 

the up and down main lines. Nearer the station, 
end. is the double junction between the main lines and the 
Skelmersdale branch lines. At the south end of the si 
there is a down ba\ line and a en I between th< 

■ lis relating to thi 
s, which is situated on thi up platform, 
engine was standing jusi ., dwarf signals, and was 

1 1 5 yards ahi 1 startini; si : 

behind the advanced starting signal. I 
sidings at the south end of the station 
by a trailing connection jus h end of the up pla 

Tile following instructi- 
the evidence 



instructions with 
ol the \pril suppli 

w hicli 

.' 

th< 

the I, \ er on which thi ■ 

men must .,,, ,),,. handli 

workit . signal for the line whicl 

it 'must ii- it 1 until the li: 

I 
clips must alwa\ . 

.1 \\ hen a 11 ail 

ft \\ hen 1 train has been draw n in 
to wait acceptance from the signal-box in ad\ 11 1 

\\ !n 11 \ ehi< li line. 

\\ 

pied. 
When not in 
li ver. 1 1 there is room on I musl 

be placed then-, but il" not, they must be hung in a su 
position on the wall ol the signa 

Vftet thi completion ol - ions whLh require 

signalmen musl see ihai the li ver clip is placed on thi 
working the signal which protects the train, befin 
with other work. 

( Iener \i Ri;i 1 N'i 
f> When a train or vi hicli s have passed a homi 
are w aiting to be en issed to anothei line, 

ill!' 

running line, or | 1 ither a main or branch li 

a jinn tion, 
from a sid 

inter, or fireman 

must, w!i 

immediately to the sigt Iman 

the position ■ 
until the signalman cai 

11 to be shunted clear of the running li; 
I Iman must 

under: 
d fn the 1 ase ol a lighl 
with nan : the gi 

latter 

EXTENSION OF THE BRIGHTON COMPANY S ELECTRIC LINES. 

The London. Hi: 

informi Croydon Town 
intentio 

I ,o,,il. in ii n now in pi 

ami Clapham Junction and 
added tl 

pany to be supplie<l with ■ 
and go 

• ii hi pn '\ idin; 
pany w ith • 

tramwai 



New I ondon Is Depot ol lh< G « R 

1 

- 

1 1 









62 THE RAILWAY TIMES. [January 21, 191 1. 

THE DEVELOPMENT OF CANADA BY RAILWAYS. 



We make the following abstract from an interesting article 
b) Mr. T. \V. Sheffield, A.M. I.E. E., recently published in I lie 
Standard. It emphasises the great part which railways an 

pi r, in- hiJ hi di stined to pla\ in the development of Canad i. 

III. development of the three great railwaj systems "I the 
I"),, mini, hi, the Canadian Pacific, the Canadian Northern, and 
thei Grand Trunk Pacific, is the greatest factor in making the 
Dominion ol Canada the wonder ot the twentieth century. 
Some "l the best brain and much ol the determined' energ) ol 
ill, British race an at present devoted to planning and building 
cities, railw ivs, and steamship lines to Canada faster than the 
map makers i in record them. \ gigant'u struggle is going 
ini In Lw< en the railwaj builders in the endeavour to be the first 
to take their respective lines of steel into even important 
renin ol the great fertile provinces ol Canadla. Each system 
is vii ing with the othi r to sei Lire tin best strategii base in ih< 
tidal watei s ol the Ulantii and Pa< ifii . 

Regina, the capital ol Saskatchewan, is destined ven soon 
to have three transcontinental railways with lines radiating to 
the 1 Pacific md Ulnntii oceans, with branch lines to the Hudson 
Bay and the North-West. This enormous expansion of the 
steel octupus will give (lie progressive cities of Winnipeg, 
Brandon, Edmonton and Calgan additional sources .-I real 
competition and friendh rivaln in the industrial development 
of the W< st. 

I he Canadian Pai ifi< , Canadian Northern, and 1 Grand Trunk 
P 11 ill, R dlwavs .in ..11 endeavouring to delivi r the evi r- 

i -ising grain vields nl Saskatchewan, Alberta and Manitoba 

l.\ the shortest and quickest route. '1 In Pacifii terminus ol tin 
Grand I runk Pacifii is .1 wonder in itself. Prince Rupert is 
di -mi. I in In iime one ol tin great ports ol the world It is a 
il.n .,n«l .1 hall in arer the < krient than Vaneouvi 1 . Ii ofTi rs an 
.,. ., 1. , di 1 ks alone of liftx miles, and with the proti . tion ol 
tin island in front ol it, a fiords one ol the finest harbours foi 
shipping in the world 1 . 

In reviewing tin history of railways in Canada, it is inti n si 
in- to note there were onh twent\ miles "I railroad in 18^5. 
Tin- total mileage for inio'will In over the 28,000 mark. Thi 
feeding ol thesi great systems is now complete with the evi r- 
growing fleets of steamships plving on the Atlantic and tlie 
Pacific. On. system alreadx carries you across the Atlantx, 
meets vou on arrival in Quebec, and convevs t'ou acros- 
continent in order to ship \ ou in its Pacific fleet to ( 'hin.i, Japan 
01 \u-11 1I1 1, and landing vou in Yokohama in twentv-two davs 
- under the Bi itish Hag all the w a\ . 

I h< C.P.R., the C.N.R., and the G.T.P. own millions ol 
teres of virgin soil to feed and develop extensions yet unthoughl 
..I. I In-, vast development will give the four great provinces 

of the West an established population ol 10, 1 en Ihi 

dawn of 1. ,_■-. The gri ..1 railv a\ - hav< 1 1. ati d the wealth ..I 
the East and West, transforming the undeveloped landis into 
rich provinces literalh teeming with potential wealth agricul- 
tural, mini. nil and timber 



FORTHCOMING DIVIDEND ANNOUNCEMENTS. 



fan. 


-4 


Jan. 


-5 


Jan. 


2 7 


Jan. 


-7 



Jan. 



MEETINGS AND REPORTS. 

FORTHCOMING MEETINGS. 

[Tues.). — East London Railway (Half-yearly), Cannon 
Street Hotel, E.C., at _>. 

1 1 IV./.). —Metropolitan Railway (Half-yearly), Liverpool 
Street Hotel, B.C., at 12. 'Followed by 
an Extraordinary Meeting. 

(Fn.). —London, Chatham and Dover Railway (Half- 
yearly) , Cannon Street Hotel, E.C., a1 1. [O, 
(Fn.).— South Eastern Railway and London, Chatham 
and Dover Railway (Joint Half-yearly 
Meeting), Cannon Street Hotel, a1 1 2, 
[l'ii.'\. South Eastern Railway (Half-yearly), Cannon 
Street Hotel, E.C., at 12. [o. Followed by 
11 Special General Meeting. 

{Tues.).- City and South London Railway (Half-yearly), 
71, Finsbury Pavement, E.C., at 12. 

{Tues.). Great Eastern Railway (Half-yearly), Great 
I astern Hotel, E.C., at 12. Followed by a 
Special General Meeting. 

{Wed.). Great Northern and City Railway (Half 
ycarlv), Westminster Palace Hotel, S.W., 
.it 12. 

{Wed.). — London, Brighton and South Coast Railway 
(Half-yearly), London Bridge Terminus, 
at 12. Followed by an Extraordinary 
Meeting. 
{Thurs.). — Central London Railway (Half-yearly), Holborn 
Ri staurant, W C, at u. ;o. I ollowed by 
an Extraordinary Meeting. 
{Thurs.). — London, Tilbury and Southend Railway (Half- 
yearly), 41, Trinity Square, Tower Hill, 
E.C., .0 i-'. Followed l>v an Extra- 
ordinary Meeting. 
{Thurs.).- Metropolitan Railway of Constantinople (Extra- 
ordinary). 25, Bucklersbury, E.C., at 12. 
{Tues.). — London and Blackwall Railway (Half-yearly), 
17, John Street, Clutched Friars. F.C., 
at 1. 

{Wed.). — Hull and Barnsley Railway (Half-yearly), Liver- 
pool Street Hotel, E.C., al 12. 

{Wed.).- Port Talbot Railway and Docks (Half-yearly), 
Great Western Royal Hotel, Paddington, 

W .It 12. 

III,./ 1 Tan' Vale Railway (Hall yearly), Royal Hotel, 
College Green, Bristol, at 2. 
{Thurs.). London Electric Railway (Half-yearly), West- 
minster Palace Hotel. S.W.. at $.30. 
{Thurs.). Midland Great Western Railway of Ireland 
(Half-yearly), Broadstone Terminus, Dub- 
lin, at 1. 
{Fn.). London and South Western Railway (Half- 
yearlj 1, Waterloo Station, at 12. 
/ North Eastern Railway (Half-vearly), Festival 

Concert Room, York .11 12. Followed by 
.111 Extraordinary Meeting. 
I / 111 1 North Staffordshire Railway (Half-yearly), Stokc- 
upon-Trent, at 1.45. 



Jan. 31 

fan a 


Feb. 1 


Feb. 1 


Feb. 2 


Feb. 2 


Feb, 2 
Feb. 7 


Feb. S 


Feb. 8 


Fete 8 


Feb. 9 


Feb. to 
Feb. 10 







Dati 


Mom 


ay, 


.11111.11 V 


1 Inn 


day, 




1 ml, 


s 





. below the dates on which the principal railwaj companii 
in. in hi ' xpci ted to .inn. .inn . tin 11 1 lividends 

I ■ IMPAN Y. 

I .in, ashire and Vorkshire . . 

trighton & Soul h I last 
Metropolitan District 
Great 1 entral 

Gri .it N"oi tin in 

nitl and Western . . 

I Ion and South \\ esti in 

orth Easten 

V.i.tli Stafford bin 

Kir. linn V . . 

I all Vale 

Hull and Barnsley 
Si rtli I mdon 

Midland 

Great Western 

I Ion .in.l Voith Westi in 

1 ,..i , 

London Elci trii 

1 ambrian 

Dover-Calais Traffic. I hiring 1. 

engers numbered ;i..,,n,,|. h„ hiding tin ( 1st. tid routi nvi . 
• 1 landed or embarked at Dovi 1 



M I,i\ 






, 


1 Inn da 


1 


1 nil. 


ry 2. 


1 ml. ,v. 






;■ 


Wednesi 


ay, 




8. 


lini',,1., 






•1. 


the cr 


> 


Il.n 


1 5. 
ml 



Reports, Traffii Returns, Prospectuses, and all othei items of financial 
ence should be sent as early as possible to the Editoi oj 
I in. Railway Iimi.s u. Norfolk Street, London, II'. < . {Tele- 
phone, 20.4S Gerrard. Telegraphic address, Altimelry, London.) 

METROPOLITAN RAILWAY OF CONSTANTINOPLE FROM GALATA 
TO PERA, LTD. 

o, . ! 1 ,, ,1 ,lin.i, \ general meeting of the proprietors was held 
on I Inns, 1. ,\, Januarj 10, al the offices, 25, Bucklersbury, E.C., 
Mr. W. \ . Senior presiding. 

The Secretary (Mr. John Paterson) having rend the notice 

vi ning the meeting, 

I he Chairman said : Gentlemen, this meeting has been called 
in order to obtain the sanction of the shareholders to certain 
alterations in the Articles of Association. In the original 
clause 75, the quorum for a directors' meeting is fixed at lour. 
The directors now think it advisable to substitute the word 
" three " I.. 1 the word " foui " in thai article. 1 therefore beg 
to move : -"That in clause 75 ol the Articles of Vssociation the 
word • three ' be substituted for the word ' four.' " 

Knoii Vnoi.ru von Cramm : I have much pleasure in second- 
ing that. 

I In resolution was put, and carried unanimously. 

The Chairman : The next alteration which the directors advise 
is to substitute anothei paragraph of clause 95 ol the Articles 



January 21, 1911.] 



rilF. R\ll,\\ \Y TIMES. 



63 



,, w hi< h I « ill now read, and v\ hk li ru 
follows : — 

mend in substitution of what 1 have 1 

the tol 

1 \ I -• ■ - b 

01 (lCftling Hltll *1 U. 

.011.; B 

the time irhi 
the I 

whii b 

■hall *" M)t<-, bug vote Bhall 

I hi g to move that. 

\ 1 >\ Cramm : I v. ill second it. 

[ resolution was pul to the vote, and carried unanimously. 

I ■ Chairman : The proxies which have been sent in amount 
I.. 7.4.;" shares. 

lh. ; then terminated. 

EAST LONDON RAILWAY. 
1'he half-yearly report states that the gross earnings for 
. months ended October 31 last, in accordance w 
R.iilw.n Cleat g II iusi settli nent;, totalled £20,539, com- 

1 May 1 and 

I '■ iw - K. 1-1 London local, 1 ." ; 

through, 847,721 : total, I fie, as 

: : ler w ith the 

, for the six mon! 
;i last, amounted to ^5,706, showing £s i 3> 

and the coaching traffic I 

red with the same perio I < I 

sniall 
increase in thi C ml show - a d< i i ease o 

.win- to traffic passing by other routes. The 

growth in pa eipts may be ascribed, partly to 

new traffic arising from the opening of the Millwall Football 

orround al New Cross. The importanl question of the 

ication of the line, or such portions ol it is 

■f through traffic, is still enj 
tl; •attention of the hoard, and a stir-. 

company is in coir of the joint com- 

mittee, with a view to a report being mad< 
accompanied by an approxim. 
construction and the working of the passenger trains by electri- 

[Tie joint committee, in granting this pern. 

refrained from committing themselves in any way at the pre- 

rrification of the lint . N 

plications, of which notice has been given, for | 

Bills to be introduced in the next session of rarli.inn.it affects 

■ |i.:rt\ or rights of the company or of the joint committee. 

METROPOLITAN RAILWAY. 

The directoi 3' report for this hall ed on 

Thursday. The passengi ■ the railway maintains 

The number ol passengers carried during 

1010 w • hundred millions, a larger number than 

has been tarried in any previous year ol thi 

The earning 
development, to which, in the opinion ol the di 
new depot, near I 

stantially. A bill is beii 

of Parliament for I idway 

n Farringdon Street and King' 1 Ijoining 

Mount P iffice, for making a su 

Road Station, and for other purposes. This Bill will 1"- sub- 

ng tie' hall yearly I In- installation ol 

I the woi km 
materially improved, Good iu.m1i' with 

the installation ..t the system between \\ 
Neasden. Thi King's t --at ion 

and the erection of the Vrcade over the railway 

■ 
Street (East) Station from the north. This is the drst p 



.11. tin w hii h the 

( tin 

nominal ad 



n8. 

The te\ enui I icr 31 

shows the follow in 



king trains of other compan 

net revenue and the mannci 
shown hereundei 

Balance from last half-year 
Nei eai inn ;s as above 
Sundry credits 





Prior ch 

I al Renewal and Di 

11 nd . . 

. . . . 

■ k 


























■ 



At the 1 

A dividend at the rate o) 2 ; pel 1 nit. per annum is p; 

i) Surplus Land stock, absorbing £36,312, but 

ary for this is obi 
phis Lands (,'omn 
lln show- an lia rease £01 the pasl hall 

£12,413 

119. The ra1 
;n ( 01np.11 is. .11 w ith 1.' ■ 

Ti; \ 1 
Hall 

1 . . . . 

S _. , , J . , . 

,, 'I hird-class 



wned 

nted. . 

1 1 












CITY AND SOUTH LONDON RAILWAY. 

show 



it.il'i 1 1 ' " u |ii 1 ; imis . n ' 1 hi 1 1 1 , 

£ t2 <' 
£t,y8f 



64 



THE RAILWAY TIMES. 



[January 21, 191 1. 



11I passengers tarried was 12,004,807 (against 11,234,074); 
length ol line in operation, 7 miles 26.10 chains; train mileage, 
7 > -'-547 (against 702,395). ["he capital accounl shows . n 
expenditure ol £3,149,772, while the receipts have been 
£'3»°77i.)5° vy/ < ordinary stock, £1,480,000; 5 per cent, 
preference stock (1891), £1511,0(111; 5 per cent, preference 

stock (1896), 100, 5 pei cent preference stock (1901;, 

,£300,000; 5 per cent, preference stock (1903), £162,046; 
debenture stock. 4 pei cent., £681,829: premiums, £'103,481. 
The report states:— "The emergency staircase at the 
Brighton Company's end ol the London Bridge subway is now 
in use. The construction of the high level subway betwi n 
the public subways of the Central London Railway and out 
booking offices at the Bank Station is neairing completion. 

The Act authorising a low-level subwa\ 1 nnect the stations 

of the Metropolitan, Great Northern and City and this railway 

at \1 gate Street received tin sanction ui Parliament, and 

preparations are being made for carrying out the work." 



North and South Western Junction Railway. At the half- 
yearly meeting of this company on January 15, Mr. Debell 
Tucker, who presided, said that" the rent had been paid by le 
lessi e 1 ompanies, and the line had been also mainta m d 
efficiently. Their regular dividend was 7I per cent., but every 
lour years they could only pay 7 per cent., and that was the 
1 ise mi this occasion. 

South Behar Railway. Presiding at ordinary meeting in 
London on January 15, Sir 11. S. Cunningham said there 
were several reasons which rendered the new contract with the 
Secretary of State desirable. There had always been difficulty 
in ascertaining exactly the company's share ol the profits^ 
and the trouble was enhanced by the question "I the amount 
-Li' i" them for the use of the Phalgu bridge, in regard to 
which the contract contained no express provision. There was 
also anxiety as to the future ol the company, in view of the 
pro[»sa1 to build a chord line which ii was thoughl was likely 
to divert some of their traffic. The board therefore thought 
t right in advise the shareholders to accept the offei ol 
a from the Si 1 n tan of State for the rental ol 
the line. The report n as adi ipted. 

South Indian Railway. \i an extraordinary general meeting 
held at the offices, Vork Street, Westminster, on I'liesdav, s ; i 
Ileum Kimber, M. P., who presided, said thai the object ol the 
meeting was to confirm the approval ol the following new 
articles ol association in place of the former article, No. 87 — 
viz., " The directors other than ill. Government directoi shall 
be entitled to receive for their services such sunt as the Secre- 
tary "I State in Council ol India may from time to time 
agree shall be 1 hai ged against the revenues ol the 
railway. Tin remuneration payabli undei this article shall 

pay able to the managing 
cle 118 nl these presents." Under the pre- 
vious article, he said, tin directors of the company other than 
the Government director wen entitled to pay and retain to 
themselves in each year out "l tin funds ol the company, b\ 
! remuneration for their services, n sum not exceeding 
£1,250, to be divided between them in such proportions as 
they might determine, lie moved the " solution, which wa- 
nna 1 h carried without discussion, as was also a furthei 

resolution substituting a new article for the existing article of 

associ; n No. 150 in relation to tin method of appointing the 

I he new artii le providi 'I as follows : "Any 1 isu il 
01 vai .mi ,-■-. occuri ing in the offii 1 

lb d up In the dire* tors ; but a 

,0', appointed shall only hold office until the nex 

ig of the ' ompany , when he or they ma\ b 

re-elected by tin company, or lie compam may lill up tli 

: 11 ii - le. il'ii ing mother auditor or auditors." 



mditoi 
mditi 



trackless Trolley Car Kills. Fifteen applications are being 

mail' le. lui.il authorities and proposed companies l"i powers 
In 100 trackless trolley cars. \mong tin places affected are a 
numbei around Rolherham, when the question of inter-com- 
ion has been Inn • d upon the loi nl authoi it\ lai gel\ 
through ih. railway schemes which havi been carried mil 
having no direct connection with the locality. Colliery exten- 
sions havi' broughl 1 onsiderable additions to the population. 

1 1 is estimated I hat with a quarler-of-an ! 1 service there will 

I" in annual in I profit ol £i,doS. In sonic parts ol the country 
ih.' new method of locomotion promises in compete with lite 
railways. This is notably tin casi witli tin Brighton-Worthing 

scheme la tramway Bill is also being | noted for' the same 

district, lie Brighton Railway Company an furthei threatened 
with competition il tin Croyd < aterham scheme is passed. 



GENERAL NEWS. 

A RAILWAY PORTERS BRAVERY. 

V passenger I. II oil the platform on to the line at Conway 
■station mi the London and North Western Railway, just as 
an express train from Llandudno Junction was approaching 
on September -'4 last. Porter Griffith Pritchard jumped down 
immediately on to tin- line, .and as the passenger was loo heavy 
lo fill he twisted him round and then rolled him over the rail into 

tin -i\ I t way, telling him to li.- still. Ih' then jumped back 

on the platform, immediately in front ol tin- engine, in order to 
keep the people on the platform from being injured, a- they 
were all in a state ol excitement. Alter the arrival of the 
train, Pritchard got through lie braki \,in and went to the 
man, staying with him until he was removed to the waiting 
room. Particulars nl the case have been submitted to tin.' 
Secretary ol State, Home Office, hut while expressing his 
appreciation of the courage and presence of mind shown li\ 
Pritchard, he regretted that the circumstances would not 
justify him in recommending the grant of the King Edward 
Medal. The directors ol the company sent specially for Porter 
Pritchard, and at their meeting mi January iS, warmh com- 
111. n. I. ii him upon his condu< t, and presented him with a > le que. 



A SCARCITY OF RAILWAY SLEEPERS IN AMERICA. 



ned 



[Tie long.thn 
appi ars to l.e close at hand, 
which (..rests have been 
replanting, it is not easy t. 
subjoct as regards railu. a\ 



te of timber in the United Males 
anil in view <>l the reckless way in 
destroyed without corresponding 
be very sorry . I he aspect of the 
leepers in America called lies — is 



thus dealt with in the January issue ol Railway ami Loco- 
motivi Engineeing, New Vork 

"Railways are face to fad with the rather dismal fact that 
11.- ire beginning to be imported to this country. Forest tires, 
tin' prodigal waste of forest timber, is in a large measure 
responsible, and the recent announcement from Washington is 
very significant thai the first consignment of railroad ties from 

Uistralin to the United States is mi its way 1.. Rodondo, Cal., 
'.lie lies being 66,000 in number and cut from what is called iron 
bark wood. Owing 1.. the extension ol railways in the Los 
Angeles section, and the constant rehabilitation nl established 
lines, .. large- percentage of the lie- used there are from the 
California redwood trees, the remainder are of pine. 

"At mi.' time, quantities of oak ties were received from Japan, 

in steamer alone bringing over 95,000. These were brought 

.11 1 time wh.ii the\ were obtainable af an unusually low 

but when prices are normal they cost much more than 

ih.' redwood ties, freight included, and are no better. The 

redw I ties cosl from 50 to So cents each, the prices being 

subject to wide fluctuation. The life ol this tie is from 10 to 

;o years, according to the character cl the s..il in which it i- 
jilaced. \n untrcati I pin.' tie lasts from five to si\ year-, and 
mi. that has been treated from eight to 1^ years. 

"Last vear there was an increaseof to per cent, in the numbei" 
ol li. - I. lid in ihi- country, a- compared with the aggregate 

." i!n 1 ling year, the total being 153,754,000, which cost 

$60,321,000 li is" significant that in 1909 16.437, ' lns were 

bought lor new track as against 7,431,000 in [908, and 

13, 557, ■ in i.)..;. During the first-named year, oak continued 

I., lead b\ a wide margin all other kinds" ol wood used for 



I 1.' 



TASMANIAN RAILWAYS IN 1909-10. 

,1 rep 



>. 1 nl iln Governi 
il results lor the 
£284,063 ; workinf 

.'1 51,981 



M 



1 Railways ..I Tasmania 

,1- -m ,i- follows:— 

\j.. nsi -, £2 1 1 ,' 177 . lie! 
deficiency debited to 
revi mi. . £ 79. 593 ' ! " T' 1 In gross revenue the 
pared with' the previous year was £4,027., hut 
■iises increased by £7,550. Then was a decrease 
. ot £3,522, and an increase of interest ol £2,074. 
\ of £79,593 debited to consolidated revenue was 
than in 1 108-9. Compared with 1008-9, tne R ross 
,, derived limn passenger traffic i- £1,634 ; parcels, etc., 
Ii\,' sioek, £1,104 mis id- ; rents .m. I miscellaneous, 
.., 5: whilst there wa- a falling oil in goods and mineral 
traffii ol ( I..". I le lraffi( train mileage in. reased by ;o,6 1 
mil.- Increase ol number of passengers (1,650,455), 103,439; 
increase nl tons carried, 13,624, and of live stock, _ 8S4. 'I here 
v,;,.. an increasi ol some hundreds of pounds in all tr 



I h 



J. in 1. 
5R9 mi 






1 flic 



Jam- \ky 21, in i. 



TIIK K\[[.\\ W 1 n!i - 






returns, • orking 

sp< nsi sof j£.'S.55 pi I expenditure 

on ih. mi hail been £44, - 

at Jiii ■ 

"Now thai the relaying ol the main line with 6ilb. tail- is 

near complefi es the general manager, "designs havi 

' for heaviei tiger engines of the 

liable loads to l>. 

Hh'therto, the cost ol working has been 

high, mi a««. •.mi ... the permanent-wa) and bridges being only 

.1 tocarrj lig ■ • low haulage-pow< 

considerabli economy will be effected by using heavj engines." 

1 ,. \i 

remarks thai "there has been a steads increasi n ti iffii 
there is iecl of its being maintained in future. ■* 

In war more land is being brought under cultivation, ami an 
increasing quantity of farm and garden produce is senl to the 
Tin' production of the closer settlement areas an 1 ..1 
nensi number ol new orchards which have been planted 
nuisi in a \ ne have a mosl beneficial 1 

railwav revenue. The loss of business on the Western Line, is 

|y temporary ." I luring the pasl j8 yeai 
trains have been running, in no case have the State railw ivs 
- 1 insible for tin- death "I a pa", nger. 

A SIGNALMAN S ACTION FOR LIBEL. 

\ an argument by counsel ext 

\ isisting <■! I .. 'i .I- I 

in Williams, Farwell ami Kennedy, on Tuesday gavi 
i in. 1 he < .i .mi < '. ntral K 
Ci impam . ippealed againsi .1 vei diet and 

£50 entered for the plaintiff at the trial b 
Mr. Justice Bucknill and a special jury, at Vork. The plaintiff 
had be.n employed as a signalman at Chesterfield, Inn was 
■>■ and maliciously mad. 
1 he had retui 
lent .it" the line, .M II .■ Bn w n, in 
_: the man a 1 > n 1 ither 

to \\ horn the pla pplied to gel 

sei \ i. e_s \\ ei e 
dispens ne. [I seemed thai the 

■ wiii. had a 
grudgi ed by one subordi- 

ither, until it finally reached the 

Lntendi ' - ;1 ^-;' stion that thi 

should b stated. The comp inj 's 

contention n ndent of the line, whosi 

duty it r, had acted perfectly boi 

no Ha!. ! to them, w-1 was true 

,,r false. ' > ither hand, for the plaintiff, it was submitted 

that th _ fed, if the plaintiff could 

establis official ..I the 

company wii emenl had originated or assis 

-lea of 

privileg lse and 

suffered loss thereby, he was 

damages. Mr. Justice Bucknil I le jurj that 

ilaintiff 
iple, and if in this ch lence ol malice 

they found malice established, the fact thai th.- libel h 1 

publish' 11 ..f tii'' line, acting in 

Tile 

jury bi en mali< • 

return. 

In tl ' 'i on Wedi" I 

1 that 
e the jury a - 
to th. I 
a new trial. 

\ the I 



COSTS IN OSBORNE LITIGATION 

n I -ol- |ustii es Fletchei 
' I ipplicalion w 

thers, thai th.- p| 
should 

he had on. ' Mr. Justice V 

dismissing the .,, ii..u w it]. 

Mi I' ' Amalgam 

that thi - ). M r i ).i,.. : 

I' 1 it his expulsion was bi 

which iiad 
resulted in what was known as th u 

point ot law . 

to the 

Mi fustice Warrington, who 

fi w as a 1 ailn ,w fi ireman porti 1 v hosi naxim n 

which 
Without calling Mr. O 

M I I • - : 

opinion that th.- applical 

' 
and it was clea : law in the 

Appeal required ! 

that th.- plaintiff was a 

shown that he co - The 

1 Id that tile plaintiff Wa- 

hid conducted successfully the former case I 1 tie II 
Lords, and to do that he must have had 
- 

per case for an order foi 
i"s!s, and i«: or such an unprecedented sum 

/., /'ill". 1 le th 

pplica- 
tioii to expedite the appeal shouli 
thai tie- app.-al sin iuld 1..- heat d on I 

\| 1 . Petet s< >n suj 
and 1 hi- was igi eed to. 

Lord Justice Bu< . 



LONG SERVICE ON THE N.E.R 

Mr. s B - '. Mi A. Woodward, ol Darli 

■s district 1 . 
n Railway, the former .1 md the 

■ s' work i:, es. Mr. W. 

nan, West Hartli 

V ■ : k. Mi In in 
Mr. T. Mnsti ;. and wagon inspectors a I New 

have been relieved 

I longesl railway career, which cl 

w as thai ..I \h . J. Finm \ 

station. 1 1 - 

made iln occasion to Mi Finney ad Mrs. 

, the gifts ii • Mr. 

V. I.. Raveii, in handini 

much : les w hich it 

trains ni ■ 



Caledonian Benevolent Fund Concert. I ninth annual 
in connection with the Caledonian Railway pa-- 

I on January i ;, i" ' City 1 fall. 1 

■ • to the till- i ■ 1 • 

Fund. 

(i. E. Hailway Seiairc Reduced ysscssmenls and a Refund. 
- have, on appeal. redu< i 
Railway assessments in the Bishop 
from £ - -. and the oy - 

fund ,i i paid by th I c< the 

appeals comm 



Reinforced Concrete fur Sleepers. I 

Berlin Electric Railway Scheme. 

: 

pnm '- 

• -round. I 



66 THE RAILWAY TIMES. [January zi, 191 1." 

PERSONAL. RAILWAY NOTES. 

Mr. W. Wells-Hood has been appoint! 1 an nssistanl to She ,. .. _ . ... , . Z~ ... 

I k . ,n \\ .i\ Raihva> Revenue in Victoria. I h, \ ictonan Railway revenue 

Mr. FolletfrlolYr. M.I.I IL, iins'been elected to a scat on ear amount. i, being an increase 

Bra il Railwav Company. ^ & 22 j'' as ■ compared with the corresponding period ol 9. 

Mr. Thomas I. Brittain, who has been seereian ol the Bell 1-1 Hie olhcial estimate, is that Av.ith .; itinuance of th. 

t\ Down Railwav Company for almost twenf vears, ilvoul the railways will show a net surplus 

, duties ol his otitic. , atid " £ r5".°oo, after the working 

Mi II. I'. Melror. ol th. Lan = '« expenses have- been paid. 

West Australian Activity — li is reported from 

The Earl ol Seiborne' 'has been elected lir. I t. till th. \ustralia, that marvellous activity and prosperity ire attending 

bv th. death ol Sii Charles Scotter. Lord all sections of industry in the State, owing to the great strides 

recentlv retired from the p I ol High Commissionei '" >h<? development ol agncultur. and ol new minin 

Uricn 'and Governor of theJYansvnal, which 1 ! d v """ for whom there is great demand 

0| |- 1V( , . ., ,-ars previouslv he v ■■ I rd '"' "'"""I mechanics for the construction ol railway rolling 

b, fore thai was I nder- ^'<' k - mch ' b Iders and . 

S. retar\ foi tin I oloni, - c.-.rp^ntcrss 

Mr. F. W. Carr, kit, the North Eastern Railwav Liability for Damage to a Bicycle. Judg, Parry, in Man 

,■■..,, electri. al di partment, has 1>. en present. I ' ' the plaintifl in an a. tion 

witli a clock bv the stall to Ur - "■""" v ! clerk - "gainst th. I 

ol head 1 .1 vehicl. department, vacated b\ Mr. A ■""' N "" h Western I Com] 

Wells-Hood. In acknowledging the gift, Mr. Can incurred by him owing to damage to his bicycle while 

the hope that the good feeling shown 'to hints. If would 111 the care of th, ipany. Plaintifl • case was thai he left 

inued towards Mi I (i Moore his successor who is his ''"' bicycli in 1 left luggngi office, and when In call. 

I ri( | ,| lll( ., . ( |,. ( | t ' n 1 ,,-;,,. 1 i n l he I olio wing morning lie found the back tyn punctui He 

ol the trains i<, ;, higfTslnndard ol 1 Irti ■'■'- ' llls unable to rid. and had to 

Mr. W H. Wadden, f,,r the past fifteen v< rs ,uperintendenl b ) ' ' - i; 1 cost of Ss., the amount sued foi rhe re was nol 

ol the central distri 1 ol the London and South Western Rail- punctured when he deposited the machine in the left luggage 

1v.1v, was r. enth presented with .. testimonial to mark ins »m«- For the company, .1 was contended thai there was no 

retireinenl after 45 years' servici with th. company. In. proof that the damag. was done whil, iho bicycl. w 

presentation took place al th. South W. stern Institute at East- their care, and that then was no evidence of neglect ay unsl 

,efor. .1 larg. gathering ol officials, and was made In the company. 

\| r Kvelvn C< il, M.P., a din toi ol tin- company. Mr. A Question of Liability. In Dumbar Small Debt Court an 

Wadden r. eived .1 silvei trai and an album containing the interesting decision has been given by Sherifl Blair in an action 

names "I i,io_- subscribers from tin central districi staff, and by Mr. and Mrs. Hugh Blair, Alexandria, Dumbartonshire, 

a cas. of cutlery from th. other departments, whili a diamond a'gainsl the Dumbarton and Balloch Joint Railway. The 

: s presented to Mrs, Wadden. pursuers claimed £'7 16s. in respeel ol damage to furniture 

Mr. \. I. Clement, who on |anunr\ 17 retired undei th. age which had been carried from l.owestof: 10 Uexandria. The 

limit from the position of telegraph ciig and superinlendeni contracl was mad. in Lowestoft with ihe Midland an. G 

loth. North British Railway, is succeeded bv Mr. David Wells, Northern Railways Joint Committee, by the ordinary owner's 

m Mr. Clement entered the service of th. Elccir'u risk note, which includes Ihe "wilful misconduct" clause 

ind International IVlegraph Compan\ in Edinburgh in iSbi, common to these notes, h was impossible to say, the parties 

and in 1S04V1, went to the Scottish N.E. Railwav Company, admitted, on which lim the damag. was done. Die defenders 

When ih.it M.nip.im was absorbed In the Caledonian company, contended thai the pursuers could nol sue them as there was 

hi n nained in their service until 1S67, and when Mr E.Gilbert, no privitv of contracl with them. The Sherifl sustained the 

the superintendent, was appointed telegraph engineei and defenders' plea. He though! the law might be st; 

superintendent lo the North British Railwav Companv m 1 so;. 1 li.it when .. contracl had been made with a railwav company 

In- selected Mr. ( I in .is in- chiel assistant, in 1S-4, on for lb.- through carriage ol goods il nsignee could nol sun 

Mr. Gilbert going to Japan, Mi Clemenl succeeded him as for damages for breach of the contract a carrier other than the 

lelegraph engineer anil superintendent original carrier ol whom the 1 cl is nadc. That un- 

Mr. I. (i. Randall, who, as alreadv notified in mil columns, doubtedlv was the law of England, .ax) he thoughl in Scotland 

on January 1 succeeded Mr. R. I'. Ellis as superintendent ol the tendency .,1 th. law was in ih, ,nm. direction. It the 

the line, Great Eastern Railwav, in th. coursi ol m interview consignee could not sue the Dumbarton and Balloch Joinl Linn. 

i his week v as asked in give his opinion mi (he prospeits which the point as in wilful misconducl on the p. 11 1 of their servants 

a railwav ireer offers th. young man to-day. "To the smart could not arise. 

man, it th. 11; I Lveragc ability who will work haul and Stoppage on Loudon Electric Railways. \ stoppage ol thirty- 
work well, a railwav mini. ' Mr. Randall replied, "is as good sl . V cn minutes happened on Sunday, |amiarv 15, on the 
as any. But a man must start young, and n. duties must he Hampstead, Piciadil'h and Bakerloo line- of the London 
1,1.. small or trivial for his personal attention. Ulvanc. nenl 1- Electri. Railw iv, ih. "Districi Railwav, and th. 1. mi. Inn I nited 

-low. hni when 11 comes it is sure." I vears ago Mi Pram ways. The mishap, took place n't e,. ',0, and was due to the 

Randall was., junioi clerk al Ipswich Station. fo-dav In bursting' ol the main steam pip. al tin Chelsea power station, 

controls iln movements ol tin S.ooo employees. Mis pre- situated on [he north bank ol the Phames, opposite Battersea 

decessoi in offici also ros. from th. ranks. Parish Church, and in addition to the stoppage ol the trains 

ami 11. inn am, even lifl 1 nine to ., standstill, even • loi 1, 

I'. and O. Pleasure Cruises. | hn Peninsular and Orien.al -topped, and nearly all the electric lights went out. [Yaffil al 

Steam Navigation ( nvipany announce that thev will carry mil th. thru was lig r ht, bul il is estimated thai aboul four 

1 1 -mi's ,,| thirteen pleasure niinm. beginning mih thousand persons were put to inconvenieno In detention in the 

,1 ng cruises h, ihe Mediterranean In ilnii well-known cars underground and in the lifts, and that nerirlv two thousand 

-In. mi \a. In " Vectis " I lm li 1 ~.t ..I these, leav ing Marseilles ,, n fares had to be 1, fused .11 the booking offii es during the 

Eebruarv o. will carry passengers to Greece, Syria, Egypt, ihe that power was nol available. Led In train and - 

Holy Land. Naples, et. 1 cruise of one monib. al fares ranging attendants carrying oil lamps, two of which are placed 01 

from thirty guineas upwards him; to positi I cabin or .ar. the passengers walked in -'ingle I'd. hum the trains in the 

Vcctis " w hi be despah Ind Nations, each resting a hand mi tin -h- ,|, I, , ol the person in 

lo Norway ind Spitsbergen, ifterwanK carrv ing oul ., lm;!,, . In mi, taking care to avoid thi rail recently "alive." The most 

mi.s n | . in Mediterranean. Bv tin " Mantura. Irving experienc, was perhaps that of the 'people who remained 

ih pun's newest vessels \| " C | ;1SS in' the lift's,, which wen suspended at various heights. Piled ' 

Ion .then mil hi four cruises b th a <lepar- in the resumption of tile services was. caused by the escaping 

tor. from London on May 2<i for Madeira tin Canan Islands, steam preventing a duplicate pipe being broug-ht into use. fills 

es and Lisbo ■ , .,,,,11.1, \,,,s., is the second interruption of tin kind,' tin first having occurred 

Lav . win 1, , 1 passengers mav visil Sanliag tin- n, w l\ .si hn. ,,,1 ., Saturdav afternoon in October, icjoS, wfien the suspension 

-mi 1,! I.., Toja In , th the abov, , m lasted for two hours. 

issuing a in-u riptiyi handbooks, pro- Hartlepool's New Dock Works. Since ihe North Eastern Rail- 



luselv ill. 1 , n mav tn .,hl. 1 In hit, ml 



1 'ompany in 1S65 took ,,\, 1 the whole ol the doi ks at Ih 



l '" 1 " 1 "" •'""' ,l " provinces. Il.nil, , | s , ihe directors havi expended mm three million; in 



I'M \KV 21, I 



TM! !< \I'.V. KY TIMES. 






improvenu ni -. :ind 
which 

new qua) 

I \l \ 

\ South Western Rallwa) Widening, i I rnmenl 

i I ; 

1 
smith. 

ssi s. Sfr. Bis 
Local G 
til. obligation t>> i 

sufficient vacant accommodation in the iieu 
all the requiremi nts without new hous 
rymple I lay •~;ii< I 1 

impany's lim • S Street, H 

and Turnhan 

District Rail- 
way train-. Event 



all |i" 

i 

Grand 1 1 niik Railway to Electrify Lines In Monlreal. 

i ' r 

I 

1 he N.I.N. Magazine, 
first n 



pECKBXTS coWIoTlV ES 

*^ Built to any 

Specification or Gauge. 

PECKETT & SON'S, 
ATLAS LOCOMOTIVE WORKS, BRISTOL. 



DIVIDEND ANNOUNCEMENTS. 



MIDLAND 

RAILWAY CARRIAGE & WAGON CO., LTD., 
Builders of 

RAILWAY CARRIAGES, 
RAILWAY WAGONS, 

TRAMWAY CARS, 
and overy description of Rolling Stock. 

MIDLAND WORKS, BIRMINGHAM 

and Abbey Works, Shrewsbury. 



JAMES 


KENNEDY 


81 


CO., 


Ltd., 




69, BUCHANAN St. 


, GLASGOW. 






BRAKCHI '■ 
LIVERPOOL 4 LONDON. EnjliBd 




t \< 


t>*^* 




P^* 


CINCINNATI. 


4C , 


fM* 




rj w 1 




t»- N 


D il 








^ 


In Ami 


SAWN 
TO SIZF. 
rlc. under 










awn supe 


rTl^lon and 








ihloi 


©d direct 


to any porl 










of Ih 


- United 


Klnndom. 




r ers so 


Idiot 




for del 


very darinj 


the 






Wf.vmoi iii and Portland Ram way. \ 
rgan Raii « « (January 

■ \kh n l-.\ rENsios K \u way. 

. \Ml \l M ROOM K VII « 

the ordinary 
oses fund, carrying forward X-5"4- 
\"k roRi.\ Station and Pimi id 
ml a bonus 
on the ordinary stock, carrying 

' i l i. i\, ( "it \l II VM IND I I 

it. per ,'innuni on l 
carrying over £y\ ,q 
.i balm 

British Co 

per annum on the ' 
ordinarv, with an additional dividend at tin 
mum for the half-veai i ndi d I >■ 
London, Tit m ri vni> ^<>i hiknd R mi « 
• 












Cm \\n Si 

; 















R 

i I 















68 



THE RAILWAY TIMES. 



[January 21, 191 1. 



Solti I Eastern Rail way |anuar\ 30), U the rate of 6_pei 
cent, per annum, carrying forward about ^Tio,8oo (againsl 
^8,690). rhe dividend) foi the whole year i- thus vi (against 
j t t per cent, on the ordinary, 6 (againsl 5A) per cent, on the 
pri Ii 1 1 1 d, and 1 pi r cent, on th< defi 1 red. 

Mini \\i> i,i.i m Western Railway ob Ikii \\i> (January 171. 

At the i.'i'' "I ; pi i" cent, per annum, placing ^6,265 to 1 esen 1 
fund ami ^."5,000 to permanent wa\ renewal kind, canrying for- 
ward ^19,51 ojn m m half-year. \ year ago the dividend was 
at thesame rati , and ^16,227 was carried forward 1 . 

Cork, Bandon \m> Sot 111 Coasi Railway (Januarj 18). 

A! tin- rati- hi 4 i" i" • 1 m . per annum, after providing ,4.1 a 00 for 

locomotive renewals, carrying forward ;63>546. \ S'eai ago 

tribution was at the rate of vi per cent, per aim um. afti 1 

I roviding x-.i"" '" r renewals, and .£3,538 was carried forward. 

Belfasi ind Counts Down Railway (January 16.) — Al the 
; |n 1 cent, per annum, alter placing ^£,'4,000 to reserve 
fund, and carrying forward about ^6,400 Ian the correspond- 
ing half-year the dividend was at the rate of 6", pei cent, pei 

annum, v.'i, ( wais set aside foi engine renewals, £2,500 to 

wav, works and building renewals account, and £6,100 was 

..111 nil forv anl. 

Centrai London Railwas (January 18). — A' tin- rati' of \ 
pei iiiii. per annum on the ordinary stock ami 2 per cent, foi 
ih,' year mi the deferred stock, placing £10,000 in reserve and 
carrying forward £33,645. for the corresponding half-Mar the 
dividend was at tin- ran ol 3 pel cent, per annum on the 
ordinary and 2 per cent, on the deferred stock, ,£2,040 was 
placed n> reserve and £33,242 was carried forward. 



Bai riMORB vnd Ohio Railroad. — Thr directors have declared. 
a dividend ol 2 per cent, on ihi preferred and ; per cent, on 
ih, common stock for the six months ended December 31. 

Dublin and South Eastern Railway (January hi). — At the 
full rate of 4 per cent, per annum on thr consolidated preference: 

1 1. (the same as a year ago), and 1 per cent, per annum on 
the ions , lid. a,, 1 ordinar} stock, after setting aside £3,000 to 
worked lines suspense account (against £5,000) and £500 to 
general insurance, and carrying forward £13,973 (against 

k 12,147)- 

Metropolitan Railway (January 17). — At the rate of ij per 
1 , ni . per annum, after placing £10,000 to the electrical renewal 
and depreciation fund, carrying forward £11,500. A year ago 
the dividend was at the ran ol 1 per cent, per annum, and 
£(,,000 was carried forward, after transferring £5,000 to elec- 
trical renewals and depreciation fund. It is also announced 
thai a dividend at lie- rale of 2% (againsl 23) per cent, per 
annum will he paid on the Surplus Lands stock, carrying 
forward £2,001 1. 

S01 in Eastern v\n Chatham Railway Companies Manag- 
ing Committee. At a meeting ol the South Eastern and 
1 : 1 ham Railway Companies Managing Committee held 3 ester- 
,l,i\ the accounts of the committee for the half-year ended 
Decembet ji, 1910, were submitted, showing, subject to final 
audit, a net revenue tor the hall \,,i, ,,| the sum ol £11049,659, 
divisible between the South Eastern and London, Chatham and 
Dover Railwa\ Companies respectively, in the proportions of 
51) .and a [H'l'ieni This compares with an amount ol £980,186 
divided as nel revenue for the half-yetti ended December 31, 
■ 



DIVIDENDS AND YIELDS FOR THE LAST THREE YEARS. 





mi is. 






1901 






[910. 




Eat? 










Hate 


Rite 








Rate 


Rate 








Stock. 


p.c. 


p.c. 




Price 




p.c. 


p.c. 




Pries 




p.c. 


p.c. 




Price 






per 


per 


Ann. 


1 




per 


per 


Ann. 


Dec. 


Yield. 


per 


per 


Ann. 


Dec. 






aim. 


ann. 


Rate. 


■ 


Yield. 


ann. 


ann 


Kite 


31. 


ann. 


ami. 


Rate. 


30. 


Yield. 




1st 


2nd 








Isl 


2nd. 








1st 


2nd 










half. 


half. 






£ s. d. 


half. 


half. 




— - 


£ s. d. 


half. 


half. 




- 








£ s. d. 


Barry Ord 

Belfast and Co. Down Ord. 


6 J 


7 


63 


167 


4 10 


6 


61 


6} 


].-,n 


4 2 6 


7 


ii 


61 


1541 


4 4 5 


6' 


i' 


61 


122' 


.", 2 II 


6 


61 


61 


119 


5 5 n 


ii 


7 


61 


1201 


5 7 10 


Brecon and Merthyr 1st Pref. . . 


4 


4 


1 




4 16 11 


4 


4 


4 


841 


4 14 8 


4 






85" 






3 


3 


3 


81'. 


3 110 


3 


3 


3 


841 


3 11 


3 






87! 




Caledonian Def. Con. Ord. 


— 


— 


nil. 




nil. 


— 


— 


ni! 


23J 


nil. 


U 






25" 




Cambrian "P." Deb. Stk. 


nil. 


nil. 


nil. 


42'. 


nil. 


nil 


1 


,'. 


42 


2 7 7 


nil. 






48 




Cardiff Pref. Ord. 


4 


■1 


4 


,', 


t 11 !i 


■l 


t 


4 


93 


4 Ii 11 


4 






82.V 




Central London Ord 


3 


3 1 


31 


65 


5 


3 


3 


3 


68 


1 - 3 


3 


3 


3 


64" 


t 13 :• 


City and South London 1 Ird. 


U 


ii 


li 


27 


5 11 1 




1J 


13 


33 J 


5 4 6 


i! 


11 


11 


27', 


5 n 1 


Cork, Bandon an 1 S. C. Ord. . . 


2J 


31 


3| 


5S 1 


5 6 111 


2; 


n 


;: 


117" 


4 17 n 


3 


4 


■■>■': 


72; 


4 16 3 


Dublin and S. E. Con. Pref. 


4 


4" 


4 


52 


7 13 lu 


4 


1 


4 


63 


6 7 n 


4 


V 


i 


721 


5 3 3 


Furness Cons. Ord. 


J 


1 


% 


17 


1 11 11 


nil. 


13 


7 


• r ,2 


1 13 8 


U 






52* 




Glasgow and S. W. Def. Ord. 


1 


1 


I 


2 a 


2 in 3 


1 


11 


11 


311 


:; 1 1 5 


13 






36 




Greal Central 1889 Prel 


nil. 


nil. 


nil. 


, ,a 1 


nil. 


— 


— 




74i 


2 13 8 


nil. 






821 




Great. Eastern < Ird. 


1 


31 


2| 


(55] 


3 12 9 


Ii 


4 


2" 


63 


1 3 1 


11 


41 


;■■! 


(ill! 


4 10 3 


Great Northern Def. Con. Ord. .. 


— 


— 


Ii 


4 1; 


3 17 11 


- 


— 


1 


433 


1 11 








m 




Great Northern (Ireland) Ord. . . 


51 


6 


53 


— 


— 


5 


6 




125 


4 8 II 


51 






121 




Great North of Scotland Def. .. 


i 


1 


1 


is 


2 15 6 


1 


nil. 


"i 


16 


1 Jl 3 


I 






17 




Great Southern ami Western Ord. 


41 


41 


41 


sr, ', 


1 Is 3 


1'. 


.". 


j; 


10] 


4 14 1 


41 






100 




Great Western Cons. Ord. 


31 


7 


5t 


123-1 


4 1 111 


3! 


7 


51 


1211 


4 6 5 


4 






1251 




Highland Ord 


11 


■■ 


1'. 


:;,,'. 


4 2 2 


l| 


J)' 


1" 




3 17 ii 


13 






381 




Hull and llarnslev Cons 


1 


2 1 


15 


1; 


3 is U 


i\ 


J ! 


2 1 


543 


5 5 (i 


3 






70 




Isle of Wig 1 »rd. 


ji 


31 


2J 


;:'i 


7 7 5 


2 


4 


3 


43 


6 19 ii 


2 






47! 




I 1 Inf. . . 


3' 


31 


m 


mi 


3 15 


.:' 


1! 


31 


911 


1 1 8 


3| 






Uli' 




Liverpool Overhead Ord. 


nil. 


nil. 


nil. 


1 


ml. 


nil. 


nil. 


nil. 


; 


nil. 


nil. 






U 




London, Brighton ami S 


21 


n 


41 


107 


1 .- 9 


2 i 


71 


5 


108 


4 12 6 


3 






114 




London, Brighton ami S. C Del 






:;' 


863 


4 11 






t 


87 


4 11 11 


— 






99 




: allium and 1'. Ul Tel 


1 


w 


2; 


,a 


4 5 11 


2 


41 


3} 


68| 


4 14 11 


3 


i\ 


:i] 


87 _ l 


4 5 n 


London ami N. W. Cons 


■n 


03 


53 


133 


4 5 


n 


7 




1341 


4 7 4 


51 






1381 




London ami 8. W. Cons. .. 




7| 


51 


136 


4 11 10 


31 


8 


53 


134" 


4 5 11 


4" 






142 




Lordon and S. A Def. . . 






11 


II,' 


3 7 


— 


— 


n 


■in; 


4 5 I" 


— 






481 




London,! ilbui \ ami ?outhend Cons. 




73 




1117 


5 11 5 


3 


s] 


5j 


111 


5 1 4 


1 


8 J 


61 


125 


5 11 


Maryporl . 1 ' Ord. 


ii 


6 


t; 


1 13 


1 3 11 


n 


6 




111 


4 5 1 


6J 






133 




Metropolitan Cons 




1 


J . 


37 


17 


1 


1 


1 


414 


2 11 8 


H 


H 


1? 


111 


3 6 8 


Metropolitan Disti " 1 I mar. 


1] 


ii 


1! 


59 J 


2 18 in 


3 


1 


3! 


97! 


3 11 9 


t 






75 




Midland Def 


1 


.", 


2 L 


553 


•1 I) 8 


II 


31 


o : - 


59" 


1 '.1 ii 


2.' 






66 




Midland G. West, of Ireknd ' Ird. 


.: 


.; 


3" 


,1 


5 7 1 


3 


3" 


3 


62 


I 16 9 


3" 


3 


3 


61 


4 18 1 


. 


nil. 




1 


311 


8 


nil. 


i 




28J 


17 5 


1 






331 




[s'orth Easti m Cons 


1! 


G 


., 1 


12s 


4 2 


5 


7 





131 ; 


4 Id 1 


5 






1311 




North Lordon Tons 


3 




3! 


lit 


3 IT 


4 


4 


1 


101 


3 in 2 


5 






105 




North stalls Cons. Ord. 


31 


1] 


:: . 


84 


1 3 


31 


4' 




83 


4 13 4 


4 






90 




Port. Talbot Ord 


3 




3 


93 


3 1 1 


:■■ 


3" 


3 


II 


2 14 6 


4 






14 




Rtavmney Cons. Ord. 


7 


- 


71, 


202.; 


3 M 1 


'.' 


91 


91 


215 J 


1 a 10 


9J 






202 J 




1 




— 




102 


3 8 7 


— 


— 


53 


114! 


t 12 1 


— 






112' 




South Eastern Ord. 


ml. 






64 


3 18 2 


^ 


5 


23 


69' 


1 11 


1 


1, 


31 


80 


4 7 6 


TatT Vale Ord 


1 


1 


! 


.-1 ■ 


5 1 1 


4" 


1 


1 


75! 


■ ", II 


4 






761 




a, Ord 


1 






101 


4 5 


ih 


ih 


ih 


'.'7"' 


4 3 II 


ih 


1,'. 


4,', 


92 


4 8 3 



' mi pei .Liinuin on Ihe < 



Jam- \kv 21, IQi i .] 



THE R\II.V. W T1M1 S. 



69 



RAILWAY STOCK AND SHARE LIST. 



HOME RAILWAY ORDINARY STOCKS. 



Bury, Ord 

Do. Pref. Conv. Ord. (4%) 

Do. Del. Conv. Ord 

Caledonian, Ord 

Do. Pref. Cony. Ord. (8%) 

Do. Dei. Conv. Ord 

Do. Def. Ord., No. 1 

Cambrian, Ord. Capital, No. 1 

I 1 I lit I a*. Ord 

Cardiff, Prof. Ord., 1891 i 
Contra) London, Ord 

Do. Peel. (4%) 

Del 

- nth Ix.ndon, Cons. Ord... 



d 
Glasgow arid s. Western Pref. Ord. 

Do. Del. Ord, 
Great Central, Pre!. Ord. 16%) ... 

Do. Dei. Ord 

Great Eastern, Ord 

Ureal N. of Scotland, Pf. Cut. Or. 

Do. Del. Coot. Ord 

Great Northern, Pref. Conv. Ord.' 

Do. Def. Conv. Ord. ., 

Do. Cons. A 

Do. Cons. B (6%) .... 
Great Northern (Ireland), Ord. ... 
Great North 4 City Pref. Or. (4%), 
I l id) Orig. 

Great Western, Cons. Ord 

Highland, Ord. Cons. Capital 

Boll anl 

"rd. (4%) 

Do. Def. Conv. Ord 

Lane, and Yorks. Cons. Ord 



r Ago. 
155 



CLosnra l'K!. y 



BS 



Clobuio Pbici •, 



4S>4 
40 's 
139 



6a 

87'2 
65'2 

25'4 
'8 

2^4 
2*4 

81 

63 



3512 
2314 

12*4 
69*4 

59 

16 

95'? 

51 U 

48*4 
141 
125 



Yesterday. 

52 155 
85 87 



61 
18 

96'2 
51 '2 
49U 

144 

125 



88>2 

6414 

25U 

'8 

2*4 

2 h 
82 
64 



23'2 
125s 
69 '2 



4812 
142 
123 



70 

89>2 

643, 

25'2 

1>8 

314 

3>4 

85 

66 



29'2 

4 
53 



92 92>2 93'2 92'2 93>2 



Lond. Brighton a B.Coaal, Ord.... 

Do. Prof. (Ii%| 

Do. Del 

Do. Cert. (on. Rights above 6% 
Lond. Chat, .v Dover, Arbll. Ord. 
London and North Western, Cons. 
London and South Western, Cons. 

Do. 4% Pref. Conv. Ord 

Do. Def, 
Lond. Tilbury ,V Southend, Cons. 
I I 1 



Do. Surplus Lands Stock 

Utu District, Ord 

Midland, Pref. Conv. Ord. (2j%) 

I 
North British, Ord. Pref. (8%) ... 

Do. Ord 

N. Cornwall (L.4H.) 4% 1'r, f. I ir. 

Do. Def. Ord 

North Eastern, "Consols" 

North Lond 

North Btajfordshire, Con 1 
Plymouthlh von 4 8.W. Jun.,Or. 
Ibot Railway and Docks ... 

Rhondda and Swansea Hay 

Ord. Cap. Stock 

Do. Pref. Ord. (4%) 

Do. Def. Ord 

Sheffield District, £10 SI I 
Booth Eastern, Ord 

Do. Pref. (0%) 

Do. Def 

Stratford d Mid. Joj I 

Taff Vale, Ord 

Vale of Glamorgan, Ord 



AYear Ago. 

110 
134 



108 
132 
87>2 
6'2 



62'4 
5S3 4 
6634 



42 
11 

12^4 

214 

101 

113 

3>2 

70 



10*8 

134 '2 
135 



18'2 
63>4 
59'4 



86 

47 

11 '2 

13U 

219 

105 

116 

4 

72 



Last Week. 

114 116 

13? 134 

99 99>? 

8"l 9>2 

14 1 

139>2 140 

141 143 



V' -t. rlaj. 
114 116 



041 
48U 
126 
2'2 



95>2 
48J 4 
128 

3'2 

41>2 

68 



141 

941; 

47'2 
127 
2'2 

42 

64 



129 
312 
42'2 



633, 
65'2 
66J4 
33U 



14U 
12'2 
201 



110 


112 


3H8 


it 


46 


49 


76>2 


77'2 


96 


98 



1412 


15 


12'2 


13 


201 


206 


96 


98 


111 


114 


3'2 


4 


80 


82 


122 


124 


421 8 


4238 



Debenture Stocks. 



Alexandra Docks and Railway.. 

Barry 

Brecon and Merthyr A 

Do. Do. B 

Caledonian 

Cambrian A 



4%, 93 100 



Do. 
Do. 
Do. 



11 



Cardiff 

Central London 

City and South London Perpetual 
.Jon 2nd Charge A » 

Do. 2ndChargeB 

Do. 3rd Charge 

Do. 4th Charge 

Do. E.L.R. 1st Debentures 

Do. Whitechapel Extension ... 
Forth Bridge 

Glasgow and South Western 

itral 





Debenture Stocks 'continued) 

North Eastern 3 83 84 

North Lond a . 4» 118 120 

3" 80 8<f 

Plymouth Devon ct S.W. Junction 4 96 98 

Port Talbot Railway and Docks ... 4 104 106 

Rhondda and Swansea Pay 4 103 106 

.1 4 105 105 

Sheffield District Permanent 4 92 94 

South Eastern Perpetual 4 105 107 

Do 5 131 133 

Do. ... :i», 90 92 

Do 3 80 82 

Taff Vale 3 79 81 

4 101 103 

Vale f Glamorgan 3 77 79 

pel and Bow 4 103 105 



Preference Stock) 

(continued ) 



Great U - 
Highland 1 



Do. 



136 
1C6 
115 



138 
108 
118 



D 1. 



Great Eastern 

Great North of Scotland... 

• rthern.... 

Great Northern (Ireland) 
Gr-at Western 



Do. 
Do. 



Hlg) land 

Do. 



Hull and Barnsley 1st 

Do. 2nd 

Isle of Wight..., 

Lancashire and Yorkshire 

London and Biackwall 

London and Greenwich . 
London Brighton 4 South Coast... 







Do. 1S.S1I 

Do. 1890 

Do. 1899 
Do. 



109 
129 
117 
89 
108 
105 

IC6 
110 
114 
122 
136 



102 

8212 
IC9 
100 
106 
120 
115 
110 

98 



London and North '■' 

London and South Western A . 

Do. Consolidated 

London Tilbury and Southend . 
Metropolitan 

Do. A 

Metropolitan District 



3j 86 



111 

131 

119 

91 
110 
107 

83', 
109 
112 
116 
124 
133 

70 



80 
106 
104 

83 '2 
111 
102 
108 
122 
117 
112 
100 
100 

76 

76 



Preference Stocks. 

DIVIDENDS CONTINGENT ON THK PROFITS OF BACH 



Do. 3j% Pref. Stock 1898 
Hull and Bamali ■ 

Do. 4% Pref. 1907 (70% paid) 

Isle of Wight 1 

Do. 4% Pref. 1903 

I - 

■ 
Do. 4A l „ Second Pref. 



Do. 



, 1902 



t 
• , Perp. Pref. 1884 



D 1 



Do. Perpetual 1 1903-0) 

Do. Prior Lien 

Midland 

Midland .V S.W. Junction A 

Do. C 

Neath anl Brecon Ut 

Do. Al 

\2 

Do. B 

North British 

U, Com. (Laun. • 



Alex. Docks, and Rail. 4J% 1st Pref. A 98 

Do. 4i% 2nd Pref. B 8b 

Barry Fj 135 

Do. 4% Cons 103 

Do. 4 ■■„ 1:1 ! 

Caledonia: 105 

Do. I I 1' .N . 9 10 4 

Do. 6% 1878 131 

Do. »% 1884 103 

Do. 4% 18H7Couv 103 

Do. 4% 1902 103 

Do. 4% 1901 Conv 105 

Do. 4 "„ 1906 Com 103 

Cambrian Nit 

City and South London J ,, lrsjl 
.. 

Ml 

1903 

55 

83 

87 

87 

Glasgow ai 105 

... 103 

Do. I ... 102 

... 102 

Great Central 5% Perp. Pr. I 

lib 
115 

• IS 

Do. t 

Great En 

Do. 8i ,189 

Do. Si ! - • : 

Do. B, I 
Great N 
Do. 3 



127 

105 
104 
107 
106 
133 
105 
105 
105 
103 



105 


107 


105 


107 


100 


103 


99 


102 



107 
105 
104 
104 



118 

11 . 
116 
112 



Do. H* 

t 

■ 
Do. 8J A Pn f. 

Do. 3* ; :j Conv. Pref. 

Midland 2*",, Perp. Pref. 
Neath and I 
North Brill 

Do. Edin. andQ 

Do. 1866 1 ■ 

DO. Co, ; 

Do i 
Do. 1 

- 









81 '2 


82l 2 


105 


107 


105 


107 


131 


133 


130 


132 


8/ 


88 


58 


60 


84 


86 


no 


112 


108 


110 


108 


110 


106 


108 


t<3 


95 


IC5 


107 


102 


104 


2i£ 


3 


90 


92 


88 


90 


86 


aa 


B4 


86 


74 


76 


68'2 


69'2 


63 


65 




106 


117 


119 


121 


128 


124 


126 


117 


119 






124 


126 


103 


10S 


103 


105 


105 




103 


105 


105 


1 ■ 


103 






10! 


















































































1 



THE RAILWAY TIMES. 



[January 21. 1911. 



RAILWAY STOCK AND SHARE LIST 

nrAI x Foreign Railways. 




100 

185'2 
L03 

Deiuerara, ordinary Stock , 1B 

Do. 1% Perp. Pref. p Stk. 

Kuem.ioiilr.f.. 

Dominion Atlantic, Urf. Stk 

Do 5%Non-Cum. Bref.btk. ... 
EnmBay & Mount l'.w!...fl . 

Grand Trunk Bac. Branch 4 UK 
Grand Trunk Pacific, 1st -"■ J 'Os. 
Grand Trunk of C la ' 

Do. Guar. 4% Stk. . 

Do. 5% 1st Pref. Stk. Non-Cam. 

Do. 6% 2nd do d"- 

Do. 4% 3rd do. ..... 00. 

Kkksdli -Frtn. Streams, 5'',, 1st >" 

tonUo P baS.W.Col,5%.l ? tMt..Db 



Mashonaland 1st M 



.."., Di b 
„ ,-, Guar. Mt. Debs. 
Midland -f W. Australia. 4% Debs 
Do ti".,Ciun. Income Db.bt* 
Naku-li i Slocan, 4"., Bits. 

is [ ^i 

LakeSt.John.UtMt.Bds 

teal, Capital Stk ' 

W Do. 4%1'eb. Btk.Rea....- ■■ I - 
„-, ;vV. -J.ul Del, Stk. Ke,l. ... 

[ncome Bonds, Kea. 
Rhodesia, 5% Kt. Mt.Deb 

Do 4"., 1st Mt. Debs. 

BuUce.Aotta^./V 



Crdba.C, 
Costa Rica 



,t .■ . ,iird. Stk.... 

w 1st I'ref. Stk. Cum 

Buenos Av,*?en.'..U;V - Mt.Dbs 



90>2 
109 

92 
122 

1158 

C,XU'[lsi"ii ■ '."' •- 1 ryA 

Pref. Stock.. „ \\ xl 

Buenos Aj-resMitUand 5 %Prel. .. 25 i 

Buenos Ayres Western, Ord.Stk. 

Do 5% Pref o/i 

Cartagena (Clmbial 5% 1st Mt^bs. 74 
Central Argentine Cons. Old. Stk. , gc 

Do. Deferred Stk. ...«■■•• 7 i 2 

Central Uruguay Eastn. l.iti.. , 

on ' shares = - 

Central Uruguay Northern Exm | 

Cen. Uruguay of Montevideo, (Jr. Sk. g| 
CbUian Tran 
Columbian N at i< 
ColtunbianNat. Custom 
Columbian Northern. 
deF.delaPi 
Cordoba A R< 

Do. 4 % -i"l 1 ■ 

Cordoba < 



95'2 96'2 



Mt.Ul.s. 

■.. Debs 

e.deSnta.Fe 
,1st Bf. stk.... 
ef. Stk. . 
. 1st I'ref. Stk. 



•Jnd Do. 



. Lxtn. 



. Dl>s. 



54 



Cuba Railroad, Pf. 6 % Non-cum. °' 

Cuban Central, cii.l lQli 

lio i' l -"o Pre' qq 

Cieuta 6% lsl Molt. 1' > - 

Egy'."anl" 

E„',,. Kio : , nil. s,o,L 

l:-,t 1 I'-'l. MlH-K „ 

I,' 2nd I'ref Stock - 

Grand Russian, 4' , N e ,„ Id . ^ 
G.N. Cent. Colombia ..„ lit. lias. , 

Great West, of lira/.il. Ord \) 

no 6% Prefd. Shares l£ 

GuaViul".l«4»',o 1 Ky..'o^.oBds j 48 
l n U t eroc.ofMe X ico(AoplcotoVeraC Z .)| 8a 

Lair," 8% Rlj Bonds 

tJtMort. Debs. Red- 
La Guaira A Caracas 

Lmbrg.-Czrnwitz-J&ssy, Guar. 
Leopoldii 



105 100 102 



9512 96'2 



95I2 96'2 



Ord. Stock 

Lima, Share, 

Manila. 5% Pref. 



9 c 
5 
221; 
66 1 ! 

Ill 
1 7 8 



Ord. Share Cap. Stk -° ' 

1st Pref.8%ao 1" 



104 
99'2 

HI'S 



^nddo. B%d, 
Mexican East, ni re: l-cbs^d.. 
Mex.canSoutl.cn,, d Mock ... 
• . stern 5% 1st Mt 1 ' 
Midland Uruguay, Ord. Stock . J= 

■ '■ hi> 

Namur & Liege, Grd. 
Do . Bref.Gi 

.1,11111 Nc« 1 

North East, of I 

EranccVii-.'dJu:. B"d. 



106 
100»2 
82 '2 



31b 
4712 

138 
9H2 

102 

104!2 
S6'2 
16'2 
I 101 

101 



92'2 

104 

105>2 
8712 
17'! 

103 

103 
13'4 



139 
92'2 
102 
10445 



N.W.of 1 ruguav.b'.'ol-tliel.Mk 
Northern of France, 3% Obhg.Refl 
Ottoman Ry. of Anatolia, 5 (, Dbs 
Ottoman (Smyrna 



Oti.iii.lSnn. 
Paraguay 
Bans, Lyoi 
Philippine 



to Aidinl Ord. 
coin. Pn L 
!si)ba.&Es.)4%Bs. 

Central, Or 



1654 

102 

18'2 

2ir. 



1 ?3« 

104 
1912 
2212 



1...I 



Mobile ,V B 

Natl, of M, 

Do. •'•",, ■' 

nd llvel 

,„ York, Out. & West ■ 

s folk ,t \\, 1' in, (' ""'■ 

*",„, ,.,>., mm Adj. Brefd. 

Northern Pacific, Capital Stk. . 

F. Wayne & Chi 

Reading, Comi 

Itork Island, lM«i»» 4 (l ' 

louSS^^Stki 111, 134, 
Southern,' . -.,. S ik. 70 i2 ! 

I?, 

D,,. Preferred 



i Med 

1st Mort 
Bnes:Atn.s.&PlpiKus.44%lst»u.^ 
P ri ,,AlKM-e.&N.itabg.lBrzl.)7%«. 

Du, 110 Cabell"* \ illclicla 

sin l'aul". .sli»" ■ 

Salvador, Ord-.. 

Do. 6% Pref 

San Baulo Jiia.il 



Cum. I'ref. Stk. 






,5S 



^JUtll Austrian .... 

South Italian, a'.'o Obluis. Red 

^:^-^^,,,, ioo 6i 

, , to com. Pre*- ^ tk l V„ 



Villa Maria & l-uuno, ""■" 
West, of B.Ayres 5%Mt B 

West, 111 "' lB' va ; ' 

Zafra * Huelva, 3% Bonds 




FO 21, I 



THE RAILWAY TIM] S. 






OFFICIAL TRAFFIC RETURNS. 



Barry. 6 


1911 


1910. 


' 




. 




Caledonian. 




13 1911. 


■ 



Croat North of Scotlund. 

14 1911. 

45.700 



Motropoiltan. 






I 



•?r.379 424.58s 

• 

100,962 
961 U 







Cambrian 



j 



1911. '1910. 

£2.265 £2,149 
2.479 

£8,072 



Croat Southern 

Tola! lor week 124,033 

149,963 
1 . 1 2 1 



191 I. 
! 1,456 
'2.579 






1910. 
1 1 .880 

1,121 



. 



Motropoiltan District. 




191 1. 






Croat Western. 









Midland. 















Contral London. 




14 
Total li 


1911. 
'-'5.633 
El 1.338 


45,607 
511,139 




o'« 


bU 








City and South 


London. 




15 
Total lor week 


1911. 
4 5.633 


1910. 
£5.531 


- 







Week and 1911. 11310. 

4 105.000 4103,000 
Goods, etc. 132,000 

Total for wei k 

I I P.OLO 1471,000 

2,993'.| 2,960 



«... K 

£64.000 



Highland. 






u 1910. 
it 2.000 

4*26.00C 
£441.000 
1,41. 



Midland Croat Western of Ireland 



15 191 :. 

44,592 

3.254 
Total for we) k £7,846 

alllee open 

'.■ek, £425 Inc. 24 weeks, £->,444 



O 1910. 

£4,530 
2,891 



Dublin and South Eastern. 





Total for week 



1911. al910. 

43027 43,077 

1.476 1.4-6 

44,533 

49.598 49.177 



Hull and Barnsley. 

5 1911. 



160 


160 




Furnesa. 




ID 1911. 


1910. 



Week ending J i 

Total for week 413, ie6 

ireeks .. .. 423.334 









. 




North British. 



Week ending i 3 _ a _] 

£2( ,! 

Talal tow 

.... 2. 350,507 




£1,815 £1,727 

7.C63 16.838 

Total for week 48,878 £8,565 

•'•■ 139 139 




Inc. this week, £313 Inc. 2 week-. £580 



Inn." •' 

Total for week .. 
Aggregate for 2 week 

Mile- '•! 

Inc. this we 



1911 
£35,000 

66_818 
£101.818 
£200.633 



£196,181 

592 
£4.193 Inc. 2 weeks, £4.452 



-154,473 
5'39.6SO 



Dee. this i 



i £2,086 



Glasgow and South Western. 

.4 1911. 

Psflsengi £11,500 

tc IP. 700 

Total for week £28.200 

4 -- a .3C0 £934,100 



Inc. Ihi-week, £1,100 Inc. 24 



4431; 4441, 

ks, £24.200 



London, Brighton and South Coast. 

Week end * 1911. a 1 9 10. 

£34,875 4*34,035 



Total for week £51.175 

4109.072 

Mile- open 



North London 

Passe ngei -. 

i' 15.985 



1911. 
43.996 
4,338 



a 1910. 

44,137 

4.038 

416,413 






Creat Contral. 



3 tnuary 15 1911. 

419.400 

Goods, etc 62.900 



Total for week £82.300 

£159.200 
616 1 ? 
■ k-. £5.600 



Inc. this week, 44.100 Inc. 2 I 



a 1910. 

418. 9C0 

59.3 00 

£78.200 

£153. P00 

609'2 



reek. £1,274 Inc. 2 weeks, 43,077 
London Electric. 
Week end 1 9 1 1 . 1910. 

•-14,820 415,895 
... ^29,650 £27,445 
Miles open 






15U 



North Staffordshire. 



ling Janu 









21 "« 



Creat Eastorn. 



London and North Western. 



1911. a 1910. 

44.800 44.600 

-.4.500 j 14,544 

Total for-.,. . k £19.500 £19.144 

Aggregati : 

521 



Week ending January 15 1911. 

£46. 500 
Goods, etc 45.700 



Total for week £92,200 

1 77.500 
MUeaop.ii l,056»4i 



« 1910. 

445,600 
46,900 

£92, =00 
4179.900 



2 »e.k-. 42,600 



1 .0565 4 ' 



Weekending January 15 1911. 19r0. 

Passengers, etc 410". 000 498,000 

I 75,000 167,000 

Total forweek £275.000 4265,000 

Aggregate for 2 J20.000 £515.000 

1.965 1.9641; 

reek, £10,000 I £5,000 



Rhymney. 



Creat Northern. 

1911. 
f39,800 



Lr.ndon and South Western. 



i 

Passengers, etc 

Goods, etc 69.700 

Total for week £ 109.500 

Aggregate lot 2 We E2] 1,700 

'..008 o 



this 



ek, 41.100 I'. 



a 1910. 
438,800 
69,600 
4108.400 

£213.600 
1 .003 

si. 9bo 



Week end L5 191 1. 1910. 

Passengers, ate. 454.800 £53.200 

Goods, etc 29.200 2=1,900 

Total for week ... £84,001 

£163.100 
1 il 21 ; 

Inc. tlu- week, SI, 900 . , ^,000 



Wei k ending Jai \ 15 fa] ;. 

I 
Total for - : h 

- 
>■ ek. £3ril !'■ 




South Eastern and Chatham. 



Creat Northern (Ireland). 



■' 



Goods, etc 

Total for week 

Aggregate for 2 
'-' 



London, Tilbury and Southend. 



thil week. 4531 Inc. 2 




Week ending Januar; 15 1911. 

47.402 

Goods, etc 2.887 

l| Total for w.. k 

Aggregate tor 2 reek £20.548 



We.k ending 

:59.836 

: 

Milesopen 654 



Taff Vale, m 



Wi ek i 



■ 
Tot»l foi ■ 






■ 



■ 






NoTis and Kxn.iSvT' pta for the corresponding peri xi Kit Tear are a. ■ 

Dock dues, etc., included 

fr T ,,o° in 'i iV , ; * pr "'' : 

t Lsnal liy miles. 1 Includes stcan . 1 tolls, m Penanh Dock and itailwar In 



7- 



THE RAILWAY TIMES. 



[January 21, 191 1. 



OFFICIAL TRAFFIC RETURNS. 



BRITISH AND IRISH RAILWAYS, &c 



FOREIGN AND COLONIAL-tWiWrf. 



Mileage. 



Belfast & Co. D. 
Brecon. & Mer. 
Cleator & Work. 
Cock. Kes S P. 
Cork B. & S C. 
Ck. B'rck. JtP., 

East London 

G.N. and City ... 

Isle of Man 

Isle of Wight ... 
Isle of W. Cent. 
Liverpool Over. 

Mane. Canal 

M'port. & Car.... 

Mersey 

Mid. « S.W. Jn. 
Neath 4 Brecon 

Port Talbot 

Rhon. & 8. Bay 
Stratford & M. J. 



61 j 



Latest Earnings Reported. 



Wk. or Month. 



•J.iiT.'l 
1 ,527 
l.r.lli 

2,532 
2,45s 



12,277 
2,082 
1,185 



1-1 

602 

1,835 

.-,.-,. usi 
2,2f.:i 
2,019 
1.394 
1.548 
2,395 

669 



Aggregate to date- 



Railway. 



£'1,770 
4.816 

2,221 

1,142 

2,910 

552 



855 

960 

1,195 

2.864 

555,735 
4,277 

J. 2(13 

3,189 
3,138 

5,182 
4.T.I5 

1.722 



1910. 

Sthn. Punjab. ..0 

£4,695 Ludha. Ext. » 

1,253 Sutlej Valley , 

2,. '114 South. Indian. ..e 

1,258 Taltal a 

3,149 Temiscouata ...6 

536 I n. Rys. Hav. a 

13,249, Urug. North ...a 

3,1-26 W. of Havana a 

862 W.P. & Yukon 6 

922 "i ucatan Tinted 1 .' 

1,193 Zaf. & Huelva a 

2,1)72 



Mileage 



72J 

117 
112J, 



Latest Earnings Reported. Aggregate to Date, 



22,050 

,,51,242 
23,152 

19,701 

J8,823 
2,000 
4.KIKJ 
2.002 



190910. 191011. 



92,724 84,800 

22,105 15,960 

22,050 

4,45,799 111,59,125 

23,911 124,380 



35,111 ! 
1,808 
4,545 



',17,2:10 
41)7,608 
11,490 

1111,827 



48.5,343 
10,914 
139,48s 



Railroad. 



Mileage. 



FOREIGN AND COLONIAL RAILWAYS. 



Mileage. 



Latest Earnings Reported. 



Alcoy & Gand. 



Ang.-Ch. Nit. a 70 

Antof. AB0I....0 700 

Arg. N.E (i 616 

Arg. Trans. ...« 109 

Assam-Bengal c 790 

Barsi 1 79 

Ben. i N.W. ...c 1,800 

Beng. Dooars...c 86, 

Extensions ,..( 117 

Bengal Nag. . c 2,398 

Bil. Riv.iC. ....1 15 

Bolivar a 110 

Bomb. B. &C.I.C 2,419 

bra,., lit- So.... d 110 

B. A. & Pao. ...a 3,ls4 

B. Ay. Cent. ...a 160 

B.A. En.otS.I ,,i >9 

B. Ay. tit. 8. ,1 1,093 

B. Ay. West. ..a 1,400 

Burma c 1,310 

Can.Nortb b 3,386 

u. Pacific ...ti 10,27o 

n. Argentine" 2,643 

Central I rug....°l 271 

East Exten. " 277 

North Ext. ..." 182 
West Exten. a 

Chillagoe " 

Cordoba Cent. a 

-Cent. N. Sec. " 

B. Ay. Exten." 

Cord. 6i Kos. ..." 

Custa liica d 

Cuban Central <* 



Aggregate to Date. 



1010. Wk. or Month. 1910 11. 1909-10. 1910-11 1909-10, 



20,1)00 

11,189 

27,550 
29,8'.I0 
1,672 
2,122 
'.11,0011 



1,807 Deo. 17 

SfJiJuly I— Dec. : 

117 Jul, 
2,35! Dec. 24 

!■"• I',' 1.1. 

110 , 1 



165 

59 
2.750 
1,360 
1,340 

3.180 
10,048 

2,- 28 



11,000 
2 ,308 
21,150 

27.5211 
1,527 

2,428 
s'.l ; I.V.I 



54,640 
140,160 

50,o:il 



.7.11,(150 
1,398 
l.nil 

3,11811 

3,15) 

4,982 

■ 549, Alab. Gt. Sth. ...I 309s 

['oog Ala.N.O.&T.P. 528' 

Atc.Top.JiS.Fe. 9,790 

Bait. & Ohio 4,198 

Cent, of Oeor. ... 1,916 

Cent, of N. ,T. .. 067 

Ches. & Ohio .. 1.938 

Chic. Ot West. 1.486 

Ch. Mil. & S. P. 7,511 

Cm. N.i.l.v T....1 337J 

01. Cm. iii. 4c. 1,982 

, -''!„. Denv. A Rio G. 2,777 
9a __ 316 Erie 2,230 

tit. .Northern .. 

Illinois Central. 



UNITED STATES RAILWAYS. 



Latest Earnings Reported. 



1909-10 1908-9. Wk. or Month- 1910. 



l'.m:). 



1011 1 



10011. 



9,701 

3,902 

1,916 



7,fll 



No 



$80,000 8.85,172 s2.110.nwi sl.8Sl.738 

oos.ono 5:13,001.1 ;toi9,ouo 3,313,000 

0,083,(168 ll,028,7,2'.l 16,074,213 11 .,1 17 70;, 

7. 470. 1(107, 524.010 10.154,55(1 38,in3,-oo 

288,'. 257,200 II. 3.1 .87,1 .5,026,492 

2,415,139 2,450,186 12,(16(1,883 11,632,545 

508,513 590,175 16,01(1,127 14,918,531 
5.601, 026 



51,490 iwi 

l 5»™ Loulsr&Nash 
„,'„.,„ Minn. A St. L 



32,100 



3,01,390 2,81,637 63.06,812 



21,44,210 22,87,780 " "'"■ J 'T.'' 7 

36,586 -»;«. l.S.h 

7 8'! 1 .7 '"*■ ha " 

'.V'," ::: Nat. of M, 

3 2377' N ' V ' ° '"' 



7,129 
4.551 
4,595 
1,027 



6.4(1,000 6,66.00;' 128,.,7,0O0 110,1,5,000 ;•'■;':* 
■'■>'■ W« !MK 108,596 SS*^* 

, ii'L :,' st. Jos 



1.82 

211 
ii", 

12s. 
667j 



271 



111 1 . 
12- 
1,1:1. 



Del. l'ii 
lliemerara 

Detroit lutd... 

Dom. Atlantic 

East Indian . 

Egypt, I >iU 

" 1 Bay 

Entre Kios 

O.Tk. of Canada' 



1021 102i .!;,, 

»'".'. \,„ 

10 lo 

- — 7dys. 

202 234 Dec 

1,501 2.477 .lal 

bio (.15 10 dys 



11,000 

18,371 

I 1,010 

11.5,48'.) 

50,743 

3.32,557 : 

II 100,200 

14 1,154,000 1 

104,676 

11,979 

5,705 

2,135 

1,582 

0,410 

1.365 

I I. CI 

3,145 

5,210 
6,67.5 
13,686 

89,900 

21,1-1 
2.117 

•I 11,11 ,11 
85,700 



-'7,500 
70,205 

16.356 



Pao.... 
s. 1.... 

St. L. ,V San. Fr. 

105 ^ m ^ *■ W ' 

Texas A Pacific 



11,61 

19,82,000 
121,0(1(1 



3,072 


3,072 


1,750 


1,732 


3,587 


3,587 


545 


545 


1,941 


1,921 


5,690 


5,649 


319 


319 t 



837J 3rd sk. I> 

1,082 Novembi 

2,776 4i 1 1 wk. Di 

2,170 Nov ,116 

6,201 Her. ,1,1,1 

4,551 Novemb 

4,388 4th wk. D 

1,027 4th wk. D 

2,524 4th wk. Di 

\ 11I 



280,027 
5,762,841', 5,1 

170,747 ] 
2,634.230 2,: 



1,472.7(10 1,31, 
111,040 91 
102,249 37: 

2,867,16'.) 2,431 



.'20,567,441 
1 4,187,038 
112,711,103 
! 12,315,146 

,23,871,535 
134,808,507 
1 2 1,121 1, 838 



28,271,67(1 
12,58.5,037 
3,812,308 

1 I, ..10.:;.,- 



05,118 

22,218 

,568.2:10 



1.08.771 

18.,, 701 I 

312,000 . 
113,017 
12,062 
l,37.i 
1, 51 ill 
1,508 
5,782 
1,395 
Id, ,',10 
2,740 
5,310 
0.70 4 
13,1)42 
10,500 
'JI..H6 1 
2,512 



317,762 
1)6,512 
53.3.1(1 

14,108 

100,1110 

127,015 
18(1,815 
(70,1(01 
167 .'.180 
7-,' 



21,0,100 



.391,: 



it. 1 



L. Er 



1,567 
7,050 
1,885 
2,514 



1,567 
7,050 
1,885 
2,514 



W0KK1NU STATEMENTS AS LAST REPoRlED. 

Gross Earnings. 



1910, 



1000. 



Alabama ot. Southern jm 
Hi," July 1 to Nov 30 

Atch.Top. iSauta f'e . . Nov 

1 i8,i,3i. July 1 Nov. 30 _ . 

-,07010 Baltimore and Ohio.. Nov 

- > T I , , July 1 to Nov. 30 

i," -11 Cauaaian Northern .. No 

Juiy 1 to Nov 30 

o, ,' 1, 1 Canadian Pacihe .... Nov 

ijo',71111, July 1 to Nov 30 . 

'H',Y,2" Chesapeake, and Ohio No, 

'l^.Vsfi July 1 to Nov. 30 . 

Chicago Great West. ..Nov 

00, ooq July ) to No 



N, 



177,101 



July 1 



No 



30 



51, 



Canada Atl. a 

Di i.i.ll.A M.u 
1 
Pen. c 
ti.W, ,,: 

(inn)'. ,v yuito / 
11.11. .-.. 

llyder. 1,1.0. e 
;liit,r.,ii Mi x. k 
La O. ,\ ' .' , 

opoldina <i 

Mad. ,v s Maine 
Manila. 



. a .1,531, 1536 



71J8. In 

403 7 iv-. Jan. 

336 7 dys. Jan. 

189 7 dys. Jan. . 

1,524 7dy. Jan 
!,894j 1... ,1 

li'l.l Jan .1 

11,0 

1 I), 

302 July 1- 



163,432 

15,120 

0.8,006 



H, ,. 21 



113,702 
0,371 
21,608 
7,834 

I 18,978 

12,4 ;., 
70,000 



202.201 

(3,6.80 
18. .,01, 
15,127 
3011.116 
33,31,700 3(1. 
27.107 



Grand Trunk of Canada :— 

190 857 Maui Line Nov 

July 1 t" Nov. in 
215 084 1 Canada Aliunde .. No', 
12' 125 ■> iilj" 1 1" Nov. 30 

4l'y5i) Grand Trunk VV' sun Sov 
14 ; 375 July 1 in Nov. 30 

2811,513 DetroilGr.llv.A.MU. 



July 1 t 



.in 



— 21.51,238 22,111,80: 

13 32,21! 1.1, 11,50 
1,571,101' 1,390,951 
71,(100 
17,821 



Total for System .. Sov 
.inly 1 to Nov. 30 
l.omsviile. A Nashville 



ulv 1 



N., 



Hi 



.Mexie 



, N.W 

ruguay a 

Nitrate o 

■ hi. . h 






* " '"i 7 lys. Ju 



181,361 
10, .100 
6,600 

•1 



, 



1 








' ' 1 . 




1 













Is, b 



8 1,275 
2110,10., 
301,4110 

1 702 

17,091 
■ 

.'l,o.:-; 
12,100 

61,820 
l,0o:l.:l22 
6,1110,31,., 
20,750 
20.1,083 
6 I...2 16 
322.721 

7,21,006 
47,750 

"1,1 ".( 






2 1,.- I 
21,101 

88 1,102 
llll, ,0110 



.2,0.1,9 T. 
75,181 

1:17,6 ,1 



Minn. St. P i S.S. 11 

July I tii Oct. 31 
Miss. kan. A Texas . . N 

July 1 t" Nov. 30 
National of Mexico N 

July 1 to No 
New Vork out. A West.. \ 

July 1 I" N'ov 30 

Phil, and Reading . . N 

July 1 to Nov. 80 

Coal aud Iron i o. . . N 

Julv I 10 ' 

Totii both (' ps, N 

1 to No, 30 
Pitts, Cm ili.t St.. I. ,.N 

Jan. 1 to Nov. 30 

St. Jos. aud tlr. lsl. . . I 

liny 1 to Oct. 31 

St Louis .t s.io Fran. N 

July 1 t»> Nov 30 

, Southeru Rallvvay ^ 

Jury 1 to Nov. 30 
* Colon Pacillc .... N 

July 1 to 
Wabasb s, 

I UlV 1 t" Sept. 10 



- 

1, 88',,, 12,, 

9,9.8.1,1 «ls 
16,074,213 

7,47(1,106 
10,151, ,50 

l,36i,100 
6,701,200 
9,413,238 

17,082.30.- 
2,771, 10.1 

14,271,116 
1,107,5.83 

6 
2,210,0 ,1 

11,002,218 

£614,300 

1,11' 15,60(1 
36,800 
173,700 
98,000 

501,700 
11,500 
178,100 
7' Hi, llll) 
1,949,100 
84,871,173 

1,260,067 
1,951,868 

13,227,787 

",2 17,062 

26,573,801 

760,571 

1,213,232 

1,1 18,991 

10,011,129 

12, ,53,088 
8,023.010 

31,504,217 
2,80,. ,7., I 

31,661,165 
185,079 

6 11.02s 
1,033,088 
18.855,531 

' . 1,1,6,1 1. 

42,178,065 
2,738,835 
7,840,241 



$368,682 
1,658,682 

0,028,520 

11,507,705 
7,521,610 

38,04 1,200 
1,517,500 
5,629,100 
9,075,964 

11,710,754 
2,657,437 

13,110,205 

1,064,253 

5,038,717 
2,117,056 
10,555,410 

■£609,300 

1.1113. SOU 

12,900 

.200 

101,200 
531 100 

35,500 

176,800 

7.88,000 

1,015,200 
$4,540,697 

21, 10", 411 

, .931,(111 
2,483,439 

11,858,586 

1,040,835 

23,110,81,7 

077,327 

1,000.818 

|S, 34 1,232 

■ 
7,532,883 

. •' '' 
2,898,817, 
27,585,313 

172,227 

615.007 
.'1,702,527 

: ' 

8.341,783 
10.816,005 

2. "15, '611 
7,108,001 



Nel Earnings. 


1910. 


1909. 


$108,336 


$121,237 


574,455 


481,520 


3,772.170 


3,018,274 


17,271,005 


6,953 


1,823,381 


2,609,939 


11,837,494 


13,246,826 


558,900 


547,400 


2,131,800 


1,773,600 


3,757,122 


3,692,338 


T.I, 3: III. 171 


16,1151,151 


03.5,04'.) 




5.087,782 


5,427,083 


283, 158 


307,160 


1,506,547 




l,8i,o:.7 


610,364 


3,434,047 


3,381,826 


£133,400 


fl55,400 


830,101. 


-i.;,,-io 


7,suo 


13,500 


19,650 


: 12,800 


10,100 


2(1,500 


81.050 


141,200 


13,000 


10,200 


34,400 


11,750 


104,000 


11111,6011 


077,80(1 




$1,627,760 


$1,830,405 


7,170,288 


-.702,825 


188,553 


1,0-0,270 




2,835,276 


1,132,4 11 


722,151 



4,318,511 

11.012,085 

1,39.1,9 
l,466,5'.'s 
6,693,123 
270,095 

6,619.615 
027,7311 

40,279 

1,174,818 

11,001.331 
1,882,0 111 
8,012,051 
1,001,211 
' 
968,206 



1I3.O03 
1,870,881 

-.788,810 

105,551 
1,184,1)27 

7.12H.910 

•17,576 

272,355 

1,820,068 

1.016,100 
7,. 18,186 

1,0,11" 

171,700 
989,029 

5.1111,6.8 1 

1,778,888 

1,201,110 

21,200.1137 

887,723 



1 Mi, Han, I. § 1" 



J.wr vm ' : s . i<;i 1 .1 



I'lll RAILWAY TIMES. 



73 



THE WESTINGHOUSE SYSTEM 

OF 

STEAM HEATING 

ensures maximum comfort to passengers 
at minimum cost to Railway Companies. 

10,000 CARRIAGES ON 20 RAILWAYS 
NOW FITTED WITH WESTINGHOUSE HEATING APPARATUS 

which is manufactured by 

THE WESTINGHOUSE BRAKE CO., LTD. 

at their works : 82 York Road, London, N. 



THE 



BIRMINGHAM 

RAILWAY CARRIAGE AND WAGON CO., LTD. 



Railway Carriages, 
Tramcars & Wagons 
of every description 
for Hire and Sale by 
immediate or Defer- 
red Payments, Iron- 
work, Wheels and 
Axles .... 



SMETHWICK, 
BIRMINGHAM. 

MANUFACTURERS OF 



Wagons for Hire, cap- 
able of carrying Six, 
Eight, and Ten Tons, 
part of which are con" 
structed specially for 
Shipping purposes. 
Wagons in Working 
Order maintained by 
Contract .... 



OAK & STEEL UNDERFRAME WAGONS, 
HYDRAULIC PRESSED BOSS, 
AND OTHER WHEELS AND AXLES. 

Grand Prix, Buenos Ayres Exhibition, 1910. 

Sole manufacturers of Dean and Churchward 



7+ 



THE RAILWAY TIMES. 



[January 28. ign. 



RUGBY, 

LEICESTER, 

NOTTINGHAM, 

SHEFFIELD, 

YORK, 




LONDON (MARYLEBONE) 



LEEDS, 

HUDDERSFIELD, 
HALIFAX, 
BRADFORD, 
MANCHESTER, &c 



Cross Country Expresses are a distinct 
feature of the G. C. Service. 

SEWCASTLE. SUXDERLAXD. Dl 
) 1 IKK, j; INCHESTER, BRADFORD. HL DDERSFIELD. 
ROTHERHAM, and SHEFFIELD. 
■ ,1 a ,11: Through Luncheon Cur T, 
NOTTINGHAM, LEICESTER, and BANBUR'i 
to and from 
Oxford. Southampton, Bournemouth, and the South 
Western Line, also to and from Gloucester, Cheltenham. 
Newport, Cardiff, Barry, ana Souih Wales. 
Bath and Bristol (with direct connections for the 
West ot hn^land 
Through Breakfast ami hum 
Trains from 
.VAKEFIELD, H UJIAX. HI DDERSi [EI i 

SHI I- 1, NOT! IXi.Ii VM, im I I It ESI i 1: 

/,' YLEBONE is LOW DOS" S POPULAR 
ROUTE for STRATFORD ou-AYOS . 



I ML CONTINENT is n tti t 
Trains to URIMSBY, and t 
HAMBIRG. ROTTERDAM, 






1 



SAM FAY. Get; 



x.w. 
al Ma. 



V90TOR9TE TREAD 






THEATRES, 

SCHOOLS, 

HOSPITALS, 

ASYLUMS, 

PUBLIC BUILDINGS. 

It is the most EFFECTIVE TREAD, and gives an 
ABSOLUTELY SURE FOOTHOLD. 

IS BRIGHT AND CLEAN IN APPEARANCE, OF GREAT 
DURABILITY AND INEXPENSIVE. 



R. M. S. P. 



The Royal Mail Steam Packet Co 
(Royal Charter dated 1839.) 



SOUTHAMPTON to ARCENTINA and BRAZIL, 

Via Spain & Portugal. 

West Indies, Central America and New York. 

From London to 

Morocco, Canary Islands & Madeira, 

West Indies, 

Special Yachting Cruises, 



Specialists in Architectural Stone Dressings, 
Staircase Work, and Granolithic Paving (in situ). 



THE PATENT VICTORIA STONE COMPANY, LTD., 

11-13 HAMILTON H3USE, BISHOPSGATE STREET WITHOUT, EC- 

: mdon." 

ESTABLISHED Wa 




— - pAKE^S or 



Galvanized Signal Pulleys & 

MMm OBI &MALIEABLE IRON. 



;8, i'-i i. 



Till R \ll.\\ \Y TIMES. 



75 



THE NATIONAL PROVINCIAL BANK OF ENGLAND 

LIMITED. 

CAPITAL Paid up £3,000.000 

Uncalled 2.300 000 

Reserve Liability . . 10.600.000 
Subscribed Capital . ill 5,900.000 

RESEKVI li . £2.150.000. 
Directors. 



Colin Fred 

I, Esq. 

Roberl T. Haines, Esq 



I 

Spin \ 

Joint General Managers. 

h .1 n i ni 
Solicitors. 



Liabilities. 



BALANCE SHEET, 31st December, 1910. 



420,033 
2,580,000 















£240,003 
270,000 
130,000 



3.000 000 



2,150,000 

5,153,033 

65,142,781 18 5 

1.114,643 9 2 






14,558,052 18 9 



8,437,492 17 8 

7,269,153 4 1 

975,432 2 10 



£736,378 12 4 



Bll 









16,681,976 4 7 

38,509,801 19 6 

1.114,643 9 2 

639,329 7 11 






96,378 12 4 
£71,503,803 19 11 



£71,503.803 19 11 



M O FITZGEK VI. I'. 

G. I'. MALI "i MSOX, 

I WIGRAM, 



VINES, 
T, EST ILL, 
D. J. II. CI : 












THE METROPOLITAN AMALGAMATED 



RAILWAY CARRIAGE AND WAGON COMPANY, Ltd., 

INCORPORATING 

Patent Shaft and Axletree Co., Ltd., Docker Bros., Ltd., and 
the Willingsworth Iron Co., Ltd. 

IRON AND STEEL UNDERFRAMES, WHEELS. AXLES, 

AND EVERY DESCRIPTION OF ROLLING STOCK, 

PRESSED STEEL BOGIE TRUCKS, The "Brunswick" Weldless Disc WhecL 

BRIOGEWORK AND ROOFS, DOCKERS' SUPERIOR VARNISHES, PAINTS, 

and FINE COLOURS, for all Climates. 

Dockers' "Hermator" Paints tor Structural and all classes of Engineering Work. 



Registered Olliccs SALTXEY, BIRMINGHAM. 
Telegrams: "METRO." BIRMINGHAM. 



London Olliccs: 36. VICTORIA STREET. WESTMINSTER. S.W. 
"HUM \R." LONDON. - Slf UT," UH1MSRI HV. 



76 



COMPANY NOTICES. 



The Great Northern Railway Company 
hereby n-iven t lint, the 



1VTOT1CE 
.\ Unit-} ... 
Proprietors of the Com] 



' lOtli Febi 
London, to re, 

Vuti Xoti • 



\ Bill 
Companj ' 



iven that 

era! Me. ting ol th, 

will be held on f ridaj 
t Twelve o'clock mi. .cm) 
. King • Cross Station, 
t from tii. Directo 

... ol '!■.' i ■ 

• m that imme- 
of the above-nami d meet 

ii [•roprietoi i of the 

: . plai . win n the follow- 
imi i.t t\ ill be submitted 

Great Northern Railway 



n Bail- 



N.utl,. in It.. lwa> c o 
Railwav Com; i 

the Gi tXi 
Committee to authoi 
Northern Railway Con 
\i .... I Hill and Pali 
other i" 

■ \ Bill t fi'i i 

land Railv 

md ii] 

North, in Railwa; - Jo 

. .. 
for other purposes." 

■■ A Hill to . stend t 
clase of lands and foi 
and Works ...J thi Ses 
wav Company : to pn 
to tli- Gre 
Railway C<i 

I hi Books kept b; 
Mm of Transfei - of 
lay in .l.ii 



THE RAILWAY TIMES. 

1 Great Northern Railway Company 
(Ireland). 

mHE Great Northern Railway Company 

llreliiml) :.... i .i .j ■.. i ■ ■ I I" "■<■' '" renders for 

^,i -',";;. t .1,. c ..!■■■ '• i """ 1 " 

Kimin.-r. ".pie- m wln.'l hv "\' 'Tl "" h}]\ «■"■■' 

,,,,„ .,-, the Seen '.ii on i"> ment of ten shilling . 
„M,I, imoiii.t "HI I., i 1; '.» ". :. ' 

1. . 1. Ulldei cov.-l marl- '1 T. lull 1 1"! " 

\\ ..,„,. ■ ,„i,-t bs lodged »•>"> tn - Se 

bind themselves p1 the 

lowest " : '"■ ' ' r MOIIKISOX, 

Sei i-etary. 
geeretarv's Ofn. i 

5tr, 'I I >- Dublin 

21»t J liny. 1911. 

Great Northern Railway Company 
(Ireland). 

mHE lure, tin- are prepared to receive 

I . ,i. <,,,.,.', .,1 llll Dl 



[January 28, 19.II- 

PROSPECTUS. 

THE GRAND TRUNK RAILWAY 
COMPANY OF CANADA. 

IS SUE OF £750.000 PEBPETUA1 FOUR PER 
CENT. CONSOLIDATED DEBENTURE STOCK 



INTEREST PAYABLE Ql - 



I-- 



payable as follows 
iTOO Stock ..11 ip 



: 
tiomil pOWl 



and for 

the M11I- 



,,,, for the compu] >o 
• hi ■ ompli ti : 



HI... k- 

Copi 
obtained t 

1 . lers, made 
Companv, should 
endorsed Tende 
,,„t later than 
11)11 



12 Sleepers. 

,,, tin- -in-. .lli.-nii"! 



uppl) 

and form of Tende 
etarj 



the 



,. .supplied 1 

,,l ,„.i : sealed eovei 
-,. t |„. ,111,1. r.!.jni..l 
M011 lav. -7th t 



1 



and will 
1911, 



, iffice, 
Great N01 • 
1 
24th Jai 




The Great Indian Peninsula Railway 
Company. 

mHE inn. tors are pre pate J to receive 

li 1. ,,t 11... ti,ll..u ■. 1 1 ■_- Stores 



The Bengal-Nagpur Railway Company, 
Limited. 



\TOTICE ia 

.\ Holders " 

mpany, mi 

•In l-lll K'1,1 



here! 
Debentu 



given 

- It I 1,1 

1. 1,- ' 
I'm thi 



tl.l. 



•In: 



. ti, 






III 



1 



the 

j due 



t ,,| 1|,, S,l,,|,|> ..I tll, toll., HI.. 

,,| I'M , HIV -I"-! . ' |: " ' 

1 forms ' 1 Tender maj be obtainei 
ivnien! ol the fee foi thi 



Tender for 

, . , I,.,., 
,11,1,1. thi 



2nd Febru; 

Thi Din 

the lowest 



, ... ,1 Sheets 

,,!,., than II o'clock 
nary, 1911. 



do ■,,,; bind th. 



. 



per 

ml Il-l. 



th, 



,,1,1111 inti-i 
entures int 

,,„l I th, ,. Bond to -I 

x '" Sati 

nil. 

shilling's i„ 

B v 
MILLER Maim 

urn 



h Debentures at 
at. discount 1 for a further 

1 .11. ol threi 

.li,. Holder 



Copthall 



19] I 



. 



ol 






• L1IKI 

I 

Board 






B 



1911. 



E.C la 



Belfast and County Down Railway. 

, ,,\ 1 U ICTS FOR 

rPHE l> rei tors of the Belfast and < iounty 
1 



£100 

\ coupe 5s pei 6100 Stock [in; il I. on th 

inril rni in pat ment ol mti re i on thi iboye 
instalments "ill b'e atta hed to th, I ' S i 

r ments may, it pre! 'rred. b in i le in fu 

\il,.n,.,i... , the date fo, the ,, ,ym, at ,n the 

,! .. 1st M ." b '""I'' 1 dis it .. ti„. , its 

I , , 1111111111. 

h„ Dire tors ol the G I Cruul B lilw 13 Com 

'„ ;,. r,„.,.i, „,Mt,. a,„,ii.. ■ - 

I ,,,,,111,1 Knui pei cent Coiuoli. ited Debenture 
Stock, the proceeds ol which will bi applied to the 

-, i„ 1., I I"" I 1 "-.- '" ""' ' .""l >'; , , , 

,, 1,-1 ,,, ii,.i„.i,t.ii,. -•.. • 1. cumulative 

ami |.aval,l,. ,,,!:,, '.■: I> "„ tl„ lit!, .1 i'V. Hth 

Ipril nth .i"l i l«h October, thi 

nil ' iimitm-. int.resl on the Stock now 
,,.),. being payable on th, Uth July, 1911 

I be Stock will rank pan pnttu with the 
,m-i,ii.. 1", i ,,, •....I H .... , ... Cent Oonsolid I 

|i,.|,.|,t,i|.,. Mm, k, a- .pint I «.n the MO I V Imi.- 

anil I.Ml,l,-i, mi tin. Sl.,,4 •!• ' ' .11 .; 

Meetings of the Prop. i- ■.' ti„. < ,„„|,,,,t to t„ u 

,,,,,. f 0] ,: ii-j t i Del tin Stock held by 

I, Bali "I Mel ft' renin , ifti i the payment oi 

t|,,. ml,., ■-! Mil tl, l>. I. it.ir. ~',„ I.- has averag. [I 

,,, ,, ti,. last five vears over t"00.000 per annum. 

The ."„,,,l,i- imi Hi.' vi'iii .'".I".! : '"'. Juni l"i 
I,,,..,, period for which aoe ts available, 

'""""ii'i'ii >' . ii.'r. ,'iiti. ,,t,.- will 1 ■ hang, 

for the Hank,,-' l,',,,a|,l foi 'l AKot- 

„| |,„ 1,I,N I, ll..,,|-t,l.-,l -M. ' !■- Will 

issued after the l«.h April, 1911 

\|,|,ll,at ml! I„. made 111 ■!" cotl -- ! ,i 

ment and quotation of tl... Sto. . on the Stock 

fc Apnlu»tions ■' h. madi on the i mpanying 

,,,,„ i,,„i ,,„« ,,,l.-l t,. ■!., ' , . Bankers, 

M.-,. Glvu. Mill- . 

I.,,„,l,:„',l Mi,.t. E.C, with a deposit of to 

"M,';„„:! ,|,l ,; r ''„S r be , lu , , 

::;■■ wm 

', ,, ,,.,,,,, ,,,.. ,,,1. ,!,,. - ,ai ,','„. : !!" tin. 'in. 

" ii, 1 , 1 :,i- ,,,„ ,i-t mil ... ■ ■. before 

U,„l„„.,l,i -!.. I-' mi Februan 

I'.., -I t..-- a, i,l I-...-...- m ;" '•■'■ 

obtained at the Dili,,- "1 tl„- Cmpaiit "■ .' 
UK ii Mill- Cii ii. .ml •'."..: '■" '" ! " ;:i ' d Stree, 

, ,1 „, M,.-i- ('.,,.,- -, C..99.G 

Street Lo loi i I 

On behalf of tl B 

M n;i i, « -M! I HERS, 



('!, 



li, .!,: I Housi 

.. ., „ i; .... -■ ■. 't, London E i 
27th .1 inuary, 1911 



-■ Stores a 



TENDERS INVITED. 

Great Northern Railway Company 
(Ireland). 



Company are prepi 1 to 

ol the 

' 



n-li, 



T HE 



,,, ' '!,, 
, . Ilnil-., 



, ic i !■ S.CTORS 
re prepai ed to 






I ii,, it Spikes, &c 

■ Tyr, a, „1 Axles. 

,, Brush, B 

II Glass. 

i_, I:,,,,, 



,-i, 






17. Vl 

■ , 
19 \\ , 

ii nt ami 

baster 
22 Ston. 
j : I ,,,. 
2+ Petrol 

Drysaltcrie 



Oil 



tin in - h 



fhe I I,, the St. 

I.n. 1. a 

„.i own form 
I be Dil 



20 I.,,. 
,,,,l Pal I" ' e ' 

„,|| l„- i,,a ,., ,1 iinh Mil 111,. I "ln|,alit - 
,,, I,, ha, I ,,, 

»>-ked ' 



The Assam Bengal Railway Company, 

Limited. 
,|,HK Assam Bengal Railway Company 

1 i prei 1 to receit Girder 

. , - .,,,,1 I ndei fo ma; 1). . i,ta. ..-I 

-,t the offices ol th, I o • Housi 

• i: I ".. I.'". !'' ' 

which e 01 U1..I' ' | ." , " | 1 ""' 1 

i, ,-.,„,„..- in., i 1, I. „1. al ti t of tin li ndcre 

by ■ipplioation 'to Mi " 

: 

-a,. ,l,..:.,.l I'. 
Tl,,. Directors 1 1 ' 

,i--,\ M.h I MILNE 






anj i 









w 






rHOMAS I BRITTAIN 



4.ILWAA' RATES. Assistance of a 

n . 

',.- '' ■' "" 

-, ,,.. i.i'l i.i.ll.illa ' 

u ..... 

' 



A Journal oi Finance, Construction, and Operation. 



\ XCIX. 



SATI RDAV, I Wl VRY 28, [911. 



\ , 



PRINCIPAL CONTENTS. 



PAGl 

. . . 77 

1 ilway 

78 
Son Dispute 81 



1 






I hath K.iii 



RvlLV * I 



I 
i 

n Railv 



Railway 

1 ilbury and Southend Rail- 



>.n 



.il Hank 






N.ni. 

land, I : 
Barry Railway . 



1!. 1 



Railwaj 






THE RAILWAY TIMES. 

Established in 1837. 

PUBLISHED EVERY SATURDAY 

Annual Subscription ipost free'. 2S shillings. 

All communications for the following issue should be received not 
later than 6 p.m. on Friday. 

New advertisements or changes in copy for the inside pages must be 
received not later than 6 p.m on Friday. Advertisements for the 
cover must be received by noon on Thursday 

Advertisements of which proof is desired should reach us by the 
second posl on Wednesday. 

Money Orders. Cheques, etc., should be drawn in favour of 
THE RAILWAY TIMES, and should be crossed " National Bank " 

Teleeraphic Address: " Altimetry, London." Telephone No.: jq^X (ierrard. 
I'll,.-, s : 12 Norfolk Street, London W.C 



r 



Fount V<l 1871. 



THE 



(Empowered bj 



OCEAN 



JkciiVnt anb (Suaranfcc g g 
== g g Corporation, jSimifed. 

Assets exceed - £2,000,000 

Claims paid over . £8,750,000 

Accident Insurance of all him 
Fire. Burglary. Fidelity Guarantees. 

Tramway Insurance. Licence. 

Insurance and Inspection of Boilers. Lifts, 
Cranes. Engines. Electrical Plant. &c. 

.beat) ©ffice: mourgate street, London. 

RIOHABD J, PAOLU 



FURTHER HOME RAILWAY DIVIDENDS. 
rhi furthei Homi Railway dividend results declared 
dui ing the present wi i k i ontii in I round 

n tunes "i these undi i 
the dei larations earlj in the week I 

and Yorkshire si I out as exceptionallj 

I' ias .ti the rate oi 5 pei cent pei annum upon the 
< trdinai 1 ainsl t j pi i that 

.ii.i net profil was being distributed ou1 oi an 
addition to the gross earnings of £55,000 I 

sant surprise, as the markel had nol 
hoped foi more than | pei 1 enl bettei dividend. 

5 per cent, is a better dividend than anj thii 
■ the Lancashire and Yorkshire since the 
["he Brighton Companj is also paying .1 decidedl) better 
dividend, namely, 4J ; 1 upon the 

Deferred stock againsl \ per cenl [01 1- rhis dividend 
would certainly have been 5 per cent, but for the - 
Nesl accident early in 1910, which -inn-, to havi 

e compensation charges in both half-years. The 
Districl Company has again done well, for it is paying 
;J pei 1 ent. upon the \\ pen 
nil a year ago. rhis 

nil", againsl nil foi [909 and in addition the full 
cent . i id upon the 1 pei 1 enl 1 ruarantei '1 issu e 

against only 3} per cent. ; Various important 

dividends were announi rday, and on the whole 

they were conservative but satisfactory. The London 
and South Western will pay 2J pei cent foi the year upon 
it- Deferred stock, whii to be the best dividend 

since that paid for the yeai 1 1 Moreover, the South 

Western 1- raising its balam e 1 1 

1 35,000, and 1- placing £35,000 to -| • ■ 

against only £20 In > it is 

clear that a highei dividend could have been paid. A 

good deal of speculative interest was taken in thi 

Northern dividend, which turns out to 1 rate of 

z\ pei < ent. foi ,( linst i : , ; for 1909 Hen 

the board has adopti I ative policy, for whilst 

raising the dividend by only .' per cent. I 

absorbirg £42,000, thi : forward is 

by £18,000 to about 

■I i" < ontii I ainst nil last year, tin- 

sum 1 till being transferred l 

as before Durii ern will 

have added no less 1! 

soun 1 tying awa\ -. tra in i\v 

\ 1 ent. oi <\\\ idend had been ho] 

disappointment and put tin 
Nortl only 50, I 

recovi 

■ 
that ii- tin idend is m< 
anivr 

This 
half-vi 



-s 



THE RAILWAY TIMES. 



[January 28, 191 1. 



there is no fault to be found with the results so far 
Igclared, and shareholders who have not lost faith in 
British railways during a long period ol depression have 
good reason to be satisfied with their position. 

THE PROTECTION OF PLATELAYERS. 

In the genera] report on railway accidents during the 
year 1909 it was stated that out oi 4,884 casualties to 
servants there were 1,512 due to want of care or breach 
of inks (3,125 were due to misadventure or were acci- 
dental), and the reports oi the sub-inspectors of the Board 
of Trade continually point out where accidents would have 
been avoided if the men had only obeyed the rules laid 
down by the companies to avoid such mishaps. In the 
case of the sail accident to five platelayers, three of whom 
were killed, near Battersea on the London and South 
Western last week, the unfortunate men broke the first 
clause nt Ride 1- 3, which says that when a train is approach- 
ing, the men must at once move clear of all lines unless 
they ' an distinctly see that they are in a position of safety 
and in no danger from another tram approaching them un- 
observed. They musl also stop in the positions they have 
taken up until the tram has cleared a sufficient distance to 
enable them to see that no tram is approaching on the 
other lines before they recross the lines 1 he cases 1 ii gangs 
11I men being " run down " while working mi the line have 
been fewer since the adoption oi clause (/) of the same rule, 
which calls fur the foreman, ganger or leading man provid- 
ing a look-out man. This was adopted in consequence <it 
a had accidenl to platelayers working in a fog .it Syston 
.111 the Midland Railway twenty years 1 r so ago, and it is 
due to the London and South Western Ccmpany that it 
should he said that one of the witnesses from the Board of 
Trade told the Royal Commission on Accidents to 
Railway Servants 111 1899 that the South Western ahead) 
provided look-out men. Such a protection is nut univer- 
sally accepted as the l»-t possible. Some men prefer to 
watch over their own safety. In fact, the late Mr J: mi - 
Tin mips. in. oi the Caledonian Railway, told the above- 
named Royal Commission 1h.1t the then engineet in-chiel 
of that line said that enquiries made among nun oi between 
|0 and pi gangs in the vicinity of Glasgow revealed the 
fact that the men preferred to be responsible for their own 
safet) I In reasons foj this are apparent. The men are 
I that the wan hman ma; fail or t h< \ ma) r.ol heai 
the alarm. Various electrical appliances have been tried, 
but none has yet been adopted, or seems likely to be, ai d 
we believe that no subjei t thai has come be fori (he Hoard 
ol frade during recent years has given them more concern 
than the solution of this problem ol safely protecting 
platelayers. 

SCOTCH TRADERS AND SCOTCH RAILWAY COMPANIES. 

The Railv . \ id 1 anal < ommissioners allowed mure 
than two months to pass from the time when tin c; ■ 
heard until the) gave theii decision last Mi mda) 1 m 
[amour scotch dispute regarding railway wa 

raised how e\ or, were important . and the 

wei e urn u and com] ilex 1 1 thai no one can 

. om] ihi in nl the del \ Hie I".'. lirg opinii m ol Lord 
■ 1 onnnissii m . is qui ited ai 
considerable length in mu prestnl issue, and n up 

ul perusal. Ii [1 1 : ,. • il iditions as to 1 

lii are omew hal different in Si otland 

1 : Inii to all 1 ailw a\ directors 

officers and shareholders in the 1 nited Kingdom the 

much interest la iefl) put, the Scotch 

mpanies have won all along the line. I; ' 

red thai lhe\ were 1*111 itled In issue theii 1 in nlai 

1 1 lelayed bv traders 

certain 1 ime, thai the denim ra e chai gi - pro- 

I 1 oughl in he en fori ed, and that 

linan claim I >\ 

Ihe; ild 1 o put 011 the 



companies' railways any number oi their own wagons 
that they chose with the object of escaping the demurrage 
charges. The traders, on the other hand, were granted 
a short extension of the free tune, which should go a long 
way to meet cases of hardship. That a great deal oi 
the delay to wagons in colliery sidings and at seaports is 
preventible is shown by the fact that since the railway 
companies began to make the demurrage charges these 
delays have enormously decreased. One result has been 
that the railway companies now have the use oi thousands 
ol wagons which formerly were tied up. This means 
on the one hand that the earning power per wagon owned 
will be increased, and on tlie other hand that the railway 
companies will not for some time require— unless ,1 sudden 
and great expansion of business occurs to add materially 
in their stock oi wagons. The traders will, doubtless, 
in 1111 ist, if not all cases, be able to adapt themselves to 
the new conditions , indeed, they already have done so 
t" a great extent. The greater expedition may some- 
times involve them in greater expense, but, on the other 
hand, they will be able to get through then work more 
quickly and undertake additional work more readily 
where such is obtainable. It is tolerably clear, even 
now. that the steps taken to avoid the demurrage will be 
so successful that not very much demurrage will have to 
be paid. Thus will be fulfilled the conditions aimed at 
by the railway companies, who have all along contended 
that linn object was not to get more money out of the 
traders but simply to get fuller use of their wagons through 
the avoidance oi delays. It is, of course, possible that 
there will be cases of individual hardship in which special 
circumstances render delays unavoidable, but these are 
c.nes which should be met by special arrangements or 
agreements between the particular traders concerned and 
the railway companies. The judgment, then, is likely 
to be good for the railway companies and good for trade-, 
and is not likely to press unfairly on the trader-. 

Weekly Traffic Summary. 

The traffic receipts for the week ended January 22, as 
officially published by the fifty-two principal railways oi 
the Tinted Kingdom, amounted to £2,008.204, which was 
earned on 21,543 miles, being at the rate of £9 ; 1- id. per 
mile nl line open. Foi the corresponding wee! oi 1910, 
il:. receipts of the same lines amounted to m.oi 
with 21,465 miles open, or {89 2s. sd. per mile. I 1 n 
was thus an increase oi (94,888 in the receipts, an increase 
ol 7S in the mileage, and an increase of ("4 is. Sd. in the 
receipts per mile-. Thirty-six oi the returns distinguish 
between the receipts from passenger and goods traffic 
and these show an increase of £28,326 (or •• 1 p. rod. per 
mile in the pa • itgei receipts, and an im 1 ease of £64 740 
nir £2 iSs Sd pei mile) in the receipts from goods traffic. 
The iggregate increase of the thirty-six railw ayr foi three 
weeks in Ihe passengei receipts has been ( 2.07Q, while 
the aggregate increase in the goods trafi 95, 306. 

te rei eipl - oi the lift) two i 
weeks (January 1 to Janu; 1 \ 22 amounted to £5.8] ; \20, 
in comparison with / - ,(>i 6, 552 in the 1 on espn 
pei ml nl la-! \ ear an inc rea e ol 1 17,068. 

NEW ISSUE. 

GRAND TRUNK RAILWAY. 

P.nii ul. a- will he found in oui advi - Mif:m issue 

hy the 1 I'lunk Railway Coinpa I C", 

ui inc in,. I 1 pei ■ 1 in. . oiwiliikiti d ; pai . I he 

i,,,,.,, si is cumulative and payable ciu irt. rly. I hi -.. |< will 

1. ml, p„,i :m 11 kvilli lh. existint; perpetual \ pei cent, con- 

M.liclati .1 ,1, In-ill ' ■<•■■ ■ I ! " halaiuv ci 

pavinc-iil -I tb' interest on tin debeiitun 
. .! clurini, the lasi 

I ' , -ui plus foi tin yc.-u . inlc 1 I vim ,.. l.i-i 

, 7""- 



January 






llli RAILWAY 1 1 M I S. 



MONEY AND STOCK 
MARKETS. 



Feb. 

1 

Mines 



I 

! 



Pay Days. 

) 









I ' ' 
i .' m ral 9 

22 

( .• neral j s 

ral .. 

I' usual comparison ol the present position ol the 
England, the Mone\ Market, the 1" 
nges, i tc. , with the position 'ast Thursday and at the 
is gi> in below . 

Week 
l ■ i ear. 



I .i-i VVi i l.- 



Bank's Coin an<l Bullion 



I 



N 

Bank Rate* 

• 

Bankers i 
Silver bar-, pi : 

I 

I 

Xew Yoi : 

I 

Yalp.trai- 
Calcutta Iran-;. 
I 

s 



1,661.264 

.1 1 cent. 
I '5.775 
I pci 

;; per cent. 3J per cent. 

-inv.'l. 



11. 1. 
is. ,i,l. 



j ( jd. 

25f. J-i'.c. 

1-. jM. 
2S. 5<i. 



■ 

IS. I 
2S. . 






Km ■ 

nt., Jan. .-. 1908. 
.. Jan. 16. 1908. 
.. Jan 
.. Mar. 5, 1908. 

1908. 4 
-. 1908- .;} 



4« 



Jan. 14, 1909. 

Apr. 14. 19C5- 

Oct. 7. 1909. 

Oct. 14. 1909. 

Oct. 21, 19C). 
Dec. 9. 1909- 

Jan. 5. 1910- 

Jan. 19. 1910- 



lune 1.1910- 



The reduction in the Rank rate, alter tin d 
ments ol the past few weeks, finalh came upon the market 
I.'im Thursday rather a-, a surprise. I In- jusl 
the change is sufficiently seen in the Hank return. I 
had < ome in from the countn on a mui h largei si ale t'han 

d mi i > expect. The amount 
abou; £.1,200,000; al the same timi circu- 

lation conti ind a sum ol £ .<■ 

was received on balance from abroad. Thus the Ri 
\\a-~ increased In £.1.481,000, bringing il up to 
it hiii hall a million of the figures which 
-: year, whi 
Bank rale - : ill, the 

■ . nt. at the bi 
the month, had risen in within a sh; ..n<\, 

five 1. 

. and adjusted the ' 
lingly. In - 
from the pi ' posits ha\ 1 

men than £.1.1 Other S 

£774,000 highi r. I : si I'ublii I ' 

on w h 

that this ii. 

ss has ni >: 
This 



-1 iinu- 



•|>i " ents in I hi I 

iaied l>\ a re iter; in Ihe p H 

ni atti . though fi ■ 

s, has bei n ' I . mtinued 1 Ii 

"I these and 1 thi 1 gilt-edged st;x Ls natu r alh 

the minds ni tin ir holders, and bill 

tired ol seeing the exi ellenl p 

absorbed in the pnwes-i it writing-down required lo keep 

their lia'an 1 -shi 1 Sir Felix . v 

posed a reversion lo ; pei cent, for I he 1 111 ids generally, a 

\ .ri intei esting and it - and 

1 w hich .11 1 inn 
la-- Saturday the markets disclosed an •. hut 

II 1. rails wen fa'rh linn, and tin sto ks ol llli Mi 

railway, with s -, of tin 

ad\ 'in. ed. 1 anadian ra.ilwa_> s ■ 1 

together wit h (j tl the \n 1 

mai 1- I \\ hen the l\\ hangi 

till . 1111 1 1111 nt ol a .list ributii I • and 

1 I ent., w hit h v\ as quite 

J pet int. more lhan Ihe sanguine-minded had 

supplement! d l>\ an inen ent. in tin- 

ord-inan dividend vA ihe London and Ii 

1 to "j 1 , gavi 1 uragemcnl to thi 1 1 ■ . 

market, though it was nol mu '1 reflected in Ihe price list 
that day. For one thing, the Housi was much cupied, 
thai da\ and the next, with the ap| lermi- 

nation I the account and the probable trend ol mone\ in 
the near future. On Wednesday 1 on tangos v 1 
on Americans and lort'ign bonds generally, at ; pei cent. 
1 \merii an 1 ails a ei e doni :i shade 
d Ho . ils al 5 A to 6A pi 
w ere dull. Mi: buying ol ihi 

than, unlered b\ offerings from banks and cthei credit 
institutions. The Following day thi I that 

ill. I'.ank rate was reduced v;a\i [leal ol 

suppt 1 ssed enthu ' and 

\i. inline railways advanced with one accord, Mi 
were firm, and II Tie rails became active. I hi 

wen . howe\ 11, in bol 
The ami; iuiii emenl il bul . ' pei enl 1 Ihi I ) - 

ed si ipoint- 

inenl, and. apart from that, the rcdu ed B; 1 
1 \ (ii n: ■ . ■ . 1 pted 1" siime as signal lo realist 
esi ibl-shed. 

On I 1 ida\ tin l.-nd. 1 
rail mark. 

■ uated b> • 
■.■S-. thai, sanguine - 

n South V 
the 1.S81 1 1 

I I I 111' ' alls 
I 






— 



8o 



THE RAILWAY TIMES. 



[January 28, 191 1, . 



m r oi Stock. R 
Gity and S. London — .. < 

Kurness — ■ • — 

Great Central Pref. — . . — 

Great Eastern I 2 

Gt.Xthn.Pr.-f.Con Orel.— . . 

Do. Def. Con. Ord. — . . 
Great Western .... — ■ .. 
Hull and Barnsley 
Lancashire& Yorkshire 2 J .. — 
London Br.& S.Coast — .. — 

Do. Deferred .... \ . . - 
London Chat. & Dover — . . 
London & X. Western j . . - 
London & S. Western — .. - 

Do. Def. Con. Ord. .1 . . - 
London, Tilbury, Ac. — .. - 

Metropolitan ■ — x. J i 

Metropolitan District ■ — .. 
Midland Def. Ord. . . h . . - 
North British Pref.Ord. '. .. - 

Do. Def. Ord [ . 

North Eastern Cons. J .. - 
North Staffordshire j . . - 
South Easti n: . . . . i . . - 

Do. Deferred .... — . . 

Taff Vale — . . 

Colonial Railways. 
Canadian Pacific . . j . . — 
GrandTrunk of Canada i| ..— 

Do. 4 p.c. Guaranteed — .. - 

1 )o. i •' 1 'reference i . . — 

Do. 2nd Preference A .. — 

Do. 3rd Preference j| .. - 
American Rah 
Atchison Common . . [ xd - 
Baltimore and Ohio. . 1 \d ; 
Chesapi aki and ( fhio \ . . — 
Chii ago Gt. w estern — . . — 
(In. ago Mil & S. Paul ! . . - 
Denver & Rio Grande — .. 

Do. Preferred .... — .. — 
Erie Common — . . -- 



Name of Stock. Rise. 

Do. ift Preference — . 

Do. 2nd Preference 1 
Illinois Central .... — . 
Louisville & Nashville — x 
Missouri Kans.&Texas ', 
N"( \\ York Central . . — . 
N.Y., Ont. & Western — . 
Norfolk & Western . . 1- . 

Do. Preferred .... — s 

Pennsylvania — . 

Reading Common . . — 
Southern Pacific Com. 1 
Southern Common . . £ . 

Do. Preferred 1 

Union Pacific :; 

Do. Preferred .... J 
Wabash — 

Do. Preferred .... ■ — ■ 

U.S. Steel Corp. Com. ij 
Do. 7 p.c. Cum. Pref. — 
Foreign Railways. 
Antofagasta 1 »ef. * >rd. 3 
Argentine tit. Western — 
BuenosAyres & Pacific 1 
BuenosAyres Gt.Sthrn. A . 
Buenos AyresWestern J 
Central Argentine . . 1 
Do. Deferred .... I 
Cent.Uruguay of Mont. — 
( ordoba&Ros.istPn 1 
1 ordoba Cent. 1st Pref — 

ista Rica — 

1 uban Central .... — 

Leopoldina — 

Mexican Southern . . — 
Mexican ( Irdinarv . . ;j 

Do. 1st Pref., 8 pa ii 
Do. 2nd Pref., 6 p.< . 2 '. 

Nitrate Ordinary.... — ■ 
Do. 1 >. ferred .... — 

Ottoman(Smyrna to Aidin— 



BRITISH AND IRISH RAILWAY DIVIDENDS. 



Increase. 


Deci ease. 


lf,« f 6 


f 


l,'obU642 
Decrease. 


1-J.siis 
Increase. 




77S.8K1 

1 ,382,!>75 

98,113 


2 267,~S1 


2,2(17,781 


Increase 

1. lsl.es:: 


Decrease . 


- 




- 





BANK RETURNS. 



I in return of the Bank ot England for the week ended 
Wednesday, Januan :;, compared « ith that for the previous 
week, shows the following- changes : — 

Jan. 26, BANKING Jan. 18, Jan 25, 

1910. DEPARTMENT. 1911. 1911 

i' LinbUitia. £ £ 

3,433,93-1 Rest :t.!sj,.-,ir, 3,500,472 

12,870,753 Public Deposits lo,nr.7,i»i'.i li,-Jls,j:V2 

11,008,271 Other do ln,l :i:l,lln ll.ii'.il.evj 

24,972 7 Day Bills 17,584 34,776 

11.1112, sis ,;,„.. s. 'unties Il.'.l... r .,493 14,955.493 

251,046,722 Other do. . •27.f.-21.:.!.7 ■js.-jl s, :s-j 

26,661.165 Not, 24.841,44(1 26,224,415 

Id and Silver 854,049 952,162 

Hi vi 25,6P5,489 27,170,577 

1.85 p.c. Ratio 51 23 p.c. 51.89 p.c. 

:; i.e. Bank Rate -1 ' p.c. 1 p.c. 

2^ p.c. Market Hate :e p.c, 3ij|p.c. 

ISSfE DEPARTMENT Increase! DecreaseT 

* i 1 I 1 

■ 11 andBulllon :3,su7,2i:. :r.,n2r.,c su 1.217.S1.-. 

led .M'r.T.'i:. f>:(.17f, (ISO I 'JI7 s|,-, 

27,711,9! ■culatlon 27,415,775 27,230,665 ' - 165,110 



Sir William .1. (ioulding. Bart., D.I.., | la - been iinaiiinii m- 1 
1 hail ai.in of tin Irish k\ul\> n\ ( I, ai in- House Utini- 
mitin foi 1 in 1 in 1. 111 \ 1 .11 . 

Mr. Richard Corv, J. P.. (; f o^car I louse ( ndiil direcVi I 
I o, l-i, ■ and Co., Ltd , has I,,,,, elected '., direct.,, ,,| 1 1 ■', 

I '.an '. Railway ( umpum . I In ('„n :.ninl, u , , , 1111un „ ,| M 

orijiinal (>n,m - 1 t thi Ham Dock* and'Railwav.s the" lati 

xi: I' ( l "'" 1 -; '■'"'> 's vi, -chairman ,u th, tinn 

of his d. nth, while Sit ( I i IT. r,l C„n \\ |> | s ,'„,, ,, ,i 

U' !'' ! ""' C»n i- la,-eh interested Lull in 
ollii n , in, i-pris, - II. ,, dim 1. , „ 

U' ' !l >> ( "Mi' ' i< •, Ltd., tin [', nrikvl 1 1 \ ivi" il 

<■'■ ■ ' '"in, l-fl . ' I I he I - 1 < I , I I. in, 1 .,,,ii n | u f m , 

1 lK ,,1 I I ), , L. i „i| un 



rin following tabl< shows the dividends on th< ordinary 
unless otherwis, stated, oi the leading English and 
Irish railways for tin half-yeai ended December 31, and by 
tin Scotch companies for the half-year ended January 31. 
1 11 convenience of comparison, the dividends for the corre- 
sponding hall ol the previous yi ars are also shown. 



Name ot 
Company 



Second Half. 1909 Second Half. 1910. 



at. 

1» 


Balanc, 


B 

brought 

£196 


Rate 


Balance 
carried 


4 i 


.. 214 




63 


.. i'3,290 


1.807 


. . 6 


. . 2,254 


65 


. .o6,140 


3.274 


. . 7 


. . 66,400 


-I 

„,l 

3 


.. 424 
pl2,064 
. . 6.421 
..16.271 


1,134 
18,152 
5,334 

5.870 






3 


633.242 


40,079 


. . 3 


. . C3:l,045 


1, 


.. i/712 


1,634 


. . 1, 


. . (.1.78S 


•;, 


. .c3,538 


2.289 


. . 2 


. . ,:;,.->4>: 


■1 
i, 


/1 2.147 
. 2.o' is 
..09.198 


6,226 
1.523 
9.330 


.. 11 


..gl3,973 


/. 


. . 7..T77 


10.600 . 


. 4 


. .'8,500 


4 


. .98.72C 


20.198 . 


. 4i 


/; 100,000- 


i, 


i67,149 


79.964 


• -! 


W85,163 


6 


. .51.100 


38,400 


. !,', 


51,000 


nil 


. . 2.996 


5.504 






5 


/I.4.S2U 


33,419 






1, 


. .98,800 
..10.297 


96.902 

7.12s 






4] 


. .10.1141 


20.238 






4 


.. 1.741 


204 






4] 


. .38.693 


2:S.U44 


. . 5 


. . 39,000 


1 


. . 4.014 


.V.U7 


. . .-> 


. . 4,240 


4 


..36.861 


25.409 


. . 4, 


. . 38,200 


4 1 


..39.137 


4.768 


.. 4 1 , 


. . 71,907 


7 


,„ lis.:, 17 


100.000 






s 


..32.852 


32.009 


• ■ S t 


../:(.-,. 142 


s l 


.. 4.013 


2.249 


..8.1 


. . 3,900 


l> 


.. 1.800 


1,313 




*Si 


1 


,./i5,927 


li.1144 


. . 1! 


.. ('.UM 


1 


.. (942 
100.203 


36.123 


.. 4 


. . £2,020 


3 


..16.228 


5.392 


. . 3 


(119,500 


1 


J20.51I 


27.856 






7 


96.500 


85.476 


.. 7 


103,970 


4 


. . 4,918 


6,300 






i\ 


. .10.540 
308 


10,952 
1,239 


. . r, 


. . 10,682 


':'- 


. 17.374 
. . S.690 


20.420 


" 


.. 10,800 


L' 


. . 743 


756 


■ • 21 


. . P 606 


1 


.29,356 






. . 27,867 


4.1 


4i,7 


47.. 


. . 4 T V 


486 



Bala and Festiniog £22'.i 

Barry 1,527 

Belfast & Co. Down 2,61 II I 

Brecon & Meithyr 1,325 

Caledonian (def.) .. 14.2:!:! 

( Cambrian 287 

Cardiff 26,649 

Central London 39, 

City and S. London 1,808 

Cik Bandon& S.C. 1,900 

Dublin and S.E. .. 5.447 

Fan.,-. 1,453 

Glas. &S. \V. (def.) 9.158 

Cieat Central 4.400 

Great Eastern 19,285 

Great Northern (def.) 24.7ii2 

G.N. (Ireland) 35.572 

G.N. of Scot, (def.) 2,501 

Gt. 8. & Western 30,984 

Cieat Western 74.400 

Highland 6,630 

Hull and Barnsley 23.164 

Isle of Wight (def.) 191 

Lanes, and Yorks. 22.sU 

L'pool Over, (pref.) 4.690 

Lond.B.&S.C. (.let.) 21,900 

L. C. & D. (1st pref.) 769 

London & N. West. lbt.liiHi 

London -v ?.\V.(< on) 28,850 

Lond. Tilbury & S. 2.893 

Maryport and Carl. 1.288 

Metropolitan 3,904 

Met. Dist. (guar.) 359 

Midland (deferred) 24,360 

Mid. Cieat Western 3.907 

North British (def.) 22.271 

North Eastern 80.400 

North London .... 5.370 

North Staffordshire 9.000 

Port Talbot 139 

Rhj iiinev 17.577 

.South Eastern 9.247 

Stratford & Mid.J un. 1.4115 

Taff Vale 27.76S 

Vale of Glamorgan 451 

Rl 

.. After pi., 1 "is £2,500 to u.n , works ami buililins renei to 

n, wal- /. Uin pi. .: , ■ ... ,. . reserve. . M en, ivals. 

1 1 m.-u il. tuna, e At the r.ile of 5 mnum on 

1 it pn ferencc ih ,r. ( Mi. 1 pi... 1,1- t., lire insurance l.md. 

g 1 nil .le id, . 1 0nsol11l.1i. 1 r , ■■ ■ > • ■ triad 

renewals ami depre, iation fund i After placina £i ]. lacing 

1] r. 11. ival 1 I 1.' c. nt. con- 

..'iii I.:, pn 1. .,,1,. p.,1 1 s.s 1, and 2 per cent, for tin who! vea on : . 1 i-i.tnt, 

pn 1. icm 1 Mi. 1 p g fs.o toworl ■ count. 111 After 

t.' general roem . 11 Inter, >t paid on \, B md 1. and [ per 1 .-nt 

to, ks and ( to rci > , ». to 

n ervi fund 1 im ,\ .1- 1 Vftei p s ' ■ bri j After pla. itig 



... 





R | "Pil 


.... 'ii- ,. (i to 


TO md gj.noo ... mv rem ....I- h \tter 




, mi, 1 p g ui.im .... 


,1 Mi, 1 ,,la, 1 


ne «i 1 ie n . - fund, e \e. r placing i 10.000 to 


1 ' 


"1 ' 1" ' ■ ..■■ ■".. ; .. inu ' ..Ml 




00 to w, : • r After plaoini 


i.inr, fund 


1 1 nil dbidi a .nsolidai, 1 p 1 


11 , ' I0.1XX) ... si 


...nislnp in \IP l.,c 


Ms 1 ,'l 1, iij; 


0,000 10 re; md 1 in wats. 




1 fund. 



January 28, 1911.] 



THE RAILWAY TIMES. 



■ 



THE SCOTCH RAILWAY WAGON DISPUTE. 

>\ m RA1I u \n ( 'OMMISSION. 

On \I. .11. i.i \ ill.- Railwai and Canal Commissioners, sitting 
in Kiln their judgment in the dispute between the 

1 nian, North British and Glasgow and South \V< 

Railway Companies on one hand and .1 I 1 coal 

. w nei s and ti iders on thi irding demui 1 

on wagons, usi of traders' wagons, and subs I 

. lUnScl .ind V ;l I .il length 

iikI summarised reports 
■ .veri published in the Rah w \n I'imi O 

I • Commissii 
1. and ii was ^i\'ii as stated on M I Com- 

l.ord Mackenzie (chairman) and Sir 

I \l 1 . -i h -I iii- 1 > . the 

H I Wixxlhouse. 

1 .11 the quest'n ms "I dem 
wagons. 

I )| Ml RK «;e. 
I.onl M \. :i opinion, said th il 

the applications \\ . - which had arisen 

under Section 5 of the Rates and 1 which 

Board of Trad.- to 
iilwa\ companies had made claims aj 
the ti ■ detent ion ol rail- 

way " 

1. counts, 

[1 r that the\ were not Hi* im 

question was whet] .alar accounts were to be paid. 

I , . ircular 

which was is on \ugusl 1 . 

1. 1909. Hie 
■ 

. : i\ ... 11s and 

ition ol traders' 

Lhc companies would ne 

Would 

dischar; 

■ 
16 t' ms and not i\- 

and nol 

. : . rt of a daj . a) Detention 

n the time the wagon or - 
supplied, d. Detention aftei conve; ini 1 Shipment and 

siding traffii days from time of arrival. (2) Station 

al. In tin • 
■ 

1 
n sheets was or pari ol 

rent n.i- to be al thi 1 pei wagon per da\ 

... nu mi. Hi- d. 
It was a construct R 

892 the railw a\ companies wei 
authorised to maki proposed; (2) that the 

circun - nl that no general 

• 
11' 
i, which wei • mpany, con- 

mpany 

was . ■■ Hi- Lordshi 

I points were 
; these must 
1 for his con- 
venieni 

,1 that the - the railway company th 

right • mplated hi 1 • siding 

rent. This was decided in pn The principle was 

rile railw a\ companii - 
■ 
i.111 was whether in the circuit 
could exercise this right. 

The Essen 11 \i Qt estions. 
On the m- liis ih. q • whether (fii 

ne had been allowed in the circular, and (second) v 
ih ■ ch x ~ 

ne, prior to the period when the circular cam.- into 
; >n it was proved thai there was much detention 
wa\ wagons bv ti 

ible the railway companies should desire to find a - 

admitted, that 
milt to the issue of the circul 11 'I r "; 1 - 

rated which had apparently '■• 



lion by the ti 
after the cin . ... ration had bci 

« is that in the firsl fortnight il I 
the North British Railv ■ surplus 

South \ i 

qiantit) standing idle. 'I he wi 

r had 
uuld be un > 

with tl 

by ii.. . which 

their inward shipment traffic w..uld !.• . -.- had 

>idering the 

ii was tention 

nj had 

■ 

Il was in . • ss.a j in 

The 
North British 
and Cale Ion ! 

1 , ere put 

I hours 
■ 

Would I 

\ 

private 

■ 
■ 

iken as 
i had been di 

The in In Lhe 

lay following 
that on whii i 
[ . . 
trader got wi could not use them lor 

making the in the 

statute. 

(' u 
This ol what the causes of detention 

I on taken up by the railway companies was 

that ll . or actual di ng the traders with 

ion that was 
not the wav in which the accounts si le up. The 

.,.■ him with 
. up .u\ w as .milled to recover and no more . 
I - wh n 

■ 

igainsl Lhe trader. 1 

to delavs occasioned in consequence ol the tradei 

ippliances being insufficient. In 

no vi.w could the railwa\ compani 1> 
gestion consequent on this. As time 
amour - in respect p 

I 
to till 

1 1 il must, und 
I direct into the w ... 

railwav con 

heal tl his. I'll. \ . 

their v ' in realitv, and not only in nai 

. 

1 
that the dela\ wenl that. 

■ 
lion. I 



8 2 



THE RAILWAY TIMES, 



l January 28, 191T. 



and tender of thr goods then it was covered by the convey - 
anci rati Th< nexl head was that of short shipment. If from 

cause or another the coal arri\ ing at the port in the railway 

wagons could nol 1m- loaded into the ship the result was that the 
railway company was left with loaded' trucks on its hands. Thi 

I i i i l . onveyam e was, howcvi r, i ndi d, and the tradi r could 

nol maintain successfulh that the detention th-eno arising 
waschargi ihl. against thi railway company. The effect of the 
decisions 1". this" Court was thai whatever related to the exi- 
. . - ol the trade the trader musl bi ar the cost of. 1 he 
righl to retain wagons as a warehouse or depol was nol covered 
conveyance rate. A lull margin must be allowed to cover 
file maximum time to enable the consignor or con- 
signs to give "i- take delivery . 

l-;-i ape i ri im Charges. 

Hie effecl of the circular, as shown b\ the tables which had 
been put in, was to show that a great proportion of the trade 
escaped charges foi demurrage or siding rent altogether, even 
on thi basis ol the free time allowed In it. According to the 
evidence of Mr. Butterworth, of the North Eastern Railway, 
and Mr. Dent, "1 tin South Eastern and Chatham Railway, less 
i im. was allowed on those systems than was proposed una* 
cin i ilar, and the charges were mori . \s regards the coal trade, 
it was argued that a distinction m-usl b< madi between land 
..... and shipment, and the ■ ase of bunker coal was particularly 
pressed. The railway companies themselves recognised that 
there was a distinction", because in the circular they made pro- 
vision for the allowance "I an extra da_\ in the case "I coal for 
shipment. Ii was necessary to refer to an argument used b) 
! for the traders in support ol what had been called thi 
. n rai r e principle. This consisted in crediting to the trader 
whatevet free time was saved. This principle, to his 
mind, was founded upon a fallacy. \ Lrader was nol entitled 
l keep a wagon for the whole ol the free time. I lis duty 
was to discharge with all reasonable despatch. II he did this 
h,- did n o more than his dutv, and was not entitled to credit 
for the remainder of the free time. Nor did his Lordship think 
i, ulmissible that the free time allowed both b< fore and after 
conveyance should be added together, and il the total period 
was not exceeded that then no demurrage should I"- due. 
Fri i Time and ( 'n irges. 
Mh conclusion, therefore, thai he came to on the question 
t,| |Vi i time was that the charges hereinafter mentioned should 
1„. m adi ( i ; f»t tin di ti ntion bi fore the conveyance ol wagons 
and sheets not belonging I" a trader after the expin ol oni 
L1 i;,ted according to the existing practice) from the lime 
il,;. wagon or sheets were supplied; (2) for the detention ol 
wagons or sheets after conveyance (a) Shipment and siding 
H iffic— After th< expiry of lour davs from the timi "I arrival 
ol the wagons or sheets at the port or siding; b) Station 
traffic— After the expin ol four days from the notice ol arrival 
o| il,, wagons or sheets at the station. 

In the • as,- ,,! , oal for shipim nl one extra da\ should be 
illowed befun convevanci frei of demurrage. The considera- 
tions as n gards frei una were equally applicable to si 
■„id d« murr.-iire. As to tin amount ol the charge, 



he rail 
t\ both 



omip-m'u-s maintained that there must be umiormit) Dotn as 
,-,,,„ ini | nion, \: lie agreed with this contention. \s 
u sidi rent, the rate o'f 6d. had h« en repi atedly laid 



tin ritd 

d, t. mi 



down by thi i mm in ' as. s arising in England. 1 his h. 

!, .. .1 reasonable in all excepl two ol the cases before the 
ission. Subjn i to thesi two i xceptioiis, there would 

u | ', „ i, to,, I, r's wagon after the expin ol the free 

, nn nlioiu-d on the rails ol the railway . onipann s. 

\ s ',-, ■- irds 111. d.-murragi ill irgi -, afti r consideration ..I the 
(vi ,l, ,, , L-rifu .sins upon it, he was ,,| opinion 

thai I In railw i-. < pani. - had proved then case as regards 

lh , ,.„. | ,-oposed ii mid he mad,- for detention ol 

wagons, 

I-, i da 
|.; : ,ch wagon of am capacity nol i xceeding ..faday. 

id tons 

i , ■.,,!, cxcei ding id tons and not 

-,, tons ... 

1 , -.-. igoi Inn 1 m ions and not 

, .,,,di,m (O tons 

' "• 'I'"-' !° ,,,ns 

f„, ,|, i, ntion ol sin i Is should, in his opinion, be 

,| pi . ,hi' oi pari ol a ,lav. Il must h. observed that the 

„ ., . |,ad l„ , ,, fixed wuh i,-li .. n. • to the i xig< n< ics 

,1 ,.,, ,.,.,! t r ;,d. I di was ||„. trad, which -required 

I,, ,,, |„ ,,„,-,,!. red Loan-, ,,| thi difficulties attending 



is. fid. 

... od. 

,s, od". 

;s. od. 



it. 11. was of opinion, on the evidence led, that the Com- 
missioners were justified in laying down the above general 
principles upon which the Registrar was to proceed in dealing 
with tin d.-tails of the accounts now in dispute. The order 
would therefor, be for an inquiry before the Registrar as to what 
sum-, if any, were due upon the said accounts, and for pay- 
ment of such sums as might be certified by the Registrar to te 
due, w ith libertj to apply . 

As regards the application by the traders under the 1S94 
Act to have it held thai the demurrage charges proposed by the 
companies were really an increase ol the rates lor carriage 
fixed b\ statute, he was ol opinion thai il tailed. 

Mr. Gathorne-Hardy and Sir Jam.- Woodhouse concurred. 

I I.M i| RS' WaGI ins. 

Ill, Commissioners next gave judgment respecting applica- 
tions by certain coal companies regarding traders' wagons. 

Lord Mackenzie said that there were two applications, the 
first by a group ol six coalmasters directed against the Cale- 
donian, the Glasgow and South Western, and the North 
British Railway Companies; the second at the instance of the 
Polquhairn Coal Company against the Glasgow and South 
\\ .- tern Railway Company. The claim made was thai they 
wen . milled, as a reasonable facility, to put such wagons on 
the railway companies' lines as they considered necessary for 
the proper working of their traffic, irrespective altogether of 
what number of wagons the railwa) companies tendered for 
that purpose. The question was one ..I reasonable facilities 
1111,1. r Sea tion 2 ol the Act of 1854, and was >.im- of fact, not of 
law. Such a question could on 1) he determined y\ ith reference 
to the circumstances ol each concrete case. The demand now 
i,M,l, was not loi reasonable facilities hut for declaration <il an 
ahsii.ni right. As regards the second ol the applications, the 
Polquhairn case was imerel) put forward to support the claim 
of right formulated by all the traders. 

I he position which the companies took up was thai they 
dr. lined to allow more traders' wagons to be placed upon their 
railways for the conveyance of mineral traffic because the 
supply on their systems was now in excess of the demand or 
requirements of the traffic. The truth was, and it was admitted 
h\ the traders, that they claimed the right to put their wagons 
on the railwa\ so as to enable them to meet the changed condi- 
tions which the railway companies had imposed upon them by 
the circular of Aug. 1 , 1908, in regard to charges for demurrage. 
I In- result ol this was somewhat startling when it was bonne 
in mind thai the North British Railway Company had on their 
systems 46,489 company's mineral wagons and 32,516 traders' 
mineral wagons; the Caledonian ;7.- s 7.; company's mineral 
w tgons and 25,342 traders' mineral wagons; and the Glasgow 
and South Western Railwa) Company 11,701 mineral wagons 
.m>\ between 1,500 and t,6oo leaders' wagons. The traders' 
demand was one which could not be entertained. Mr. 
lackson, the manager of the North British Railwa) 
Company, had 1 said that he wauled to have railwa) 
wagons exclusively on his system as soon as he reasonably 
could. This was nol the question which the Commissioners 
were asked to try. He would say, however, that in so far as 
Mi. Jackson's policy involved the withdrawal of reasonable 
facilities enjoyed by a irad.-r in accordance with the pracl ci 
ol the railway company, he would be averse to giving effect 
to it. The Railway Rates and Charges Act ol 1892 applicable 
to Scottish railways, provided by Section 2 that the maximum 
rat< for conveyance included the provision ol locomotive power 
mid trucks by the company, with the proviso thai when- the 
. on,,,. 1, he- did not provide t'rui ks there should be a rebati to the 
trade. II ii had been inti ud, ,1 thai lh, trader was to l„ entitled 
,s a mait.-r ol right to put his own w a -,,iis on the railway, one 
would hay,- expected this to hay.- b.-< n en u ted in express terms. 
I h,- 1 nihvay companies must, with due refi n 111 , to 
existing . in unistnin es and the prai tice ol the tradi , be , -milled 
to fulfil the obligations which their statutes put upon them. 
I In appli, alion ol the Polquhairn Coinpam failed foi the 
same reason I pon the whole matter, his opinion was 
an rsi to the d< maud made b) the Dean nl I-.,. ult\ on behall 
ol the Had, is thai the) were to be emu], d in the future to 
i,h wagons on the railway companies' lines as they, in 
theii own jihL; in, m , might consider necessary for the proper 
« irking of their traffic. He was ,,]^^ against the policy of 
the railway companies in so far as ii involved the withdrawal 
ol the reason ible facilities afforded to the had, rs by tile stix k 
ol w ,. -I ii- owned by them. He was of opinion thai tin appli- 
cation's should he dismissed. 

Sir James Woodhouse and Mr. Gathorne-Hard) took the 
same view, and lh.- applications were according!) dismissed. 



January 28, 191 1.] 



THE kmi.w \v riMES 






MEETINGS AND REPORTS. 



METROPOLITAN RAILWAY. 



1 



FORTHCOMING MEETINGS. 

Citv and South London Railway Hall 

71.1 in 1 .,u -. Pavi mi nt, I 
Great Eastern Railway (Half-yi 

wed by .i 
' General Mi 
M x u Southern Railway 

II, „, ■ 1 ■ at 12 
Beira Junction Railway (Bcarei Shai 
tificate H London Wall 1 

1 I .a 11. 
Great Northern and City Railway (Hall 
Wi troinstcr Pala, i 11 

London. Brighton and South Coast Railway 
(Half-yearly), London I linus, 

1 nary 

Mi etdng. 
Central London Railway ill. ill yearly), Holborn 
Restaurant, W.C., I ollowi d by 

an Extraoi 
London, Tilbury and Southend Railway (Hall 
yearly), 11, rrinity Square, Towci Hill, 
1 I , .11 12. Followed by an Extra- 
ordinary Meeting, 
Metropolitan Railway of Constantinople I 

Bucklersbur; I ' 
Barry Railway (Half-yearl; D 

Followed by an Extraordinary 
Meeting. 
Vale of Glamorgan Railway 1 1 
Ban 2.15. 

. Forcett Railway (Half-yearly), 

London and Blackwall Railway (1 1. ill yearly), 
i . i treet, Crutched Friars, E.C., 

at i. 
Hull and Barnsley Railway ' 

Street Hotel, I I 
Port Talbot Railway and Docks 
Great Western l 
W., .1! i 2. 
Taf! Vale Railway (H Roj ,1 Hoti I, 

istol, at 2. 
East Lincolnshire Railway (Annual) 

, tion, X.. at 1 2 

London Electric Railway (Half-yearly) 
mm ter 1 - W., at 3. 

Metropolitan District Railway (Hall 

Hotel, S.W., .,' 1 2. 
Midland Great Western Railway of Ireland 
(Half-yeai I me Terminus, Dub- 

lin, al i 
-Great Northern Railway (Half 

Cro it 12. Fol lowed by a 

v 
London and South Western Railway (Half- 

lowed I 
North Eastern Railway [H 

llowed by 

— Rhymney Railway 1 1 

Cardiff, at 12. Followed by an Extra- 

North Staflordshire Railway dial! \ 

upon-Trent, a1 1 . \^. 
Great Southern and Western Railwaj 

1 minus, Dublin- 
Midland Railway (Half-yearly), al D 

j p.m. I ollowed by Whamcliffc meeting. 
North London Railway (Half-yearly), 

ition, X.W .. at 1 . 
Alberta Railway and Irrigation (Special), 

Win, hi C, at 12. 

Ottoman Railway (Kalf-yearl) 

ml. : 

' 

Hit Metropolitan Amalgamated Railwaj Carriage and Wagon 
Co., ltd.. ha\ 

1 Railway. 

this kind ever placed Villi a single firm in this 1 
British railway, and the competition for the contract v.. 
keen. 



I .. ('/'.«• 

Jan. ,1 
Jan. -.1 

Feb. 1 

Feb. i MIYiu. 

Feb. 1 (Wed.).- 

Peb. - 

Feb. 2 (Thurs.).- 

[Thurs.). 
Feb. 3 (Fri). 

(Fri.). 
Feb. 4 (S<it.) 
Feb. 7 (Tues.).- 

[Wed.). 

I x [Wed.). 

Feb. 9 (Thur..) 

Feb. 9 (Thurs.). 

I 
Feb. 9 (Thurs.). 

Feb. 10 

Feb. 10 (Fri.). 

Feb. to 

Feb. ] 

Feb. it 

Feb. 16 (Thurs.) 
Feb. 16 (Thurs. 

' 



I i 1 ;. 

Kaii « 

1 .iii'l .1 substantial in, n 

1 the shops al N'cnsdcn for thi 
haul during the last six muiuhs, with ihe result Hi 
sented a better ap 

■ to their passengi 1 I 
direction, and were satisfii 
sented I ■ 

: that the loss on the II 
less by aboul £1, on the J 

al "ut /. ;i ■ . u hili th< ii prop 

working ol the Metropolitan an il Joinl I'm. 

(ii I Inn 1 1\\ w is ■ • ter than in the < 

1 to thi electrical 1 enew al and 
pul to the same fund in 
period. The) had had 

• 
that thej were wise in further strengthening this r< 

taking this extra ,-. iccount and providi 

thi debentun , they had a 

£52,500 available for dividend on the ordinary stock. The 
proposed to usi >l this sum in paying a dividend 

at the rate of ij per 
■ ,.l £g, 5, * 1. 

S Al ISI VI II > K \ I >! \ I I (il ■•■ 

lli. number ol passengers during thi 
the largest 1 

1 traffic was increasing all 

the time, and it was nol unnatural thai they should gel 
complaints of over-< 1 

doing ever) thing thi y could to meet this b) strengthei 

expensi during the hall year had 

pared with 58.2 in thi corn spondii 
expenses to total receipts d ring the half-yi 

. npared with 52.63 in nding hall'-' • 

from time to time in thi 
their pi various poinl - 

I be intercsti 
roll had increased from £64,621 to X : 7''- ,J ". •"' incr ' 

were still continui . 
their resources in 'this respect, and there was ■ 

1 further im 1 
half-vear's working fullv justified thi 
,ns that he had m 

future. With the resources al tl 1 • 

busim ■ 

I ,,,,„M have to spend sonn 

„ purpose ,.l assisting th 

nail matter, and one th; 
t, ,rs anv concern. 

and reconstruct 

iV.thinth, 



and erecting 



•'-! 



THE RAILWAY TIMES. 



[January 28, 191 1. 



County Council. These works were proceeding rapidly and 
satisfactorily. There was also the new entrance to the Edgware 
Road Station from Marylebom Road, which il was expected 
would be opened earl} nexl month. A contract had been entered 
into with ili' British Westinghouse Company for the renewal 
of a large portion oi the company's machinery at Neasden, with 
;i view both tn increasing its capacity for the production of 
current and to reducing the cost per unit. The work was pro- 
ceeding, and before the end of the current half-year the dii ei tors 
expected to have the first oi the new machines installed and in 
working order, and, if the contract conditions were fulfilled, 
considerabli economy should be effected in their coal consump- 
tion. \t the last meeting he mentioned they were extending 
the system of electric automatic signalling from Baker Street 
lo Neasden. The} had completed that work as far as YVillesden 
Green and it had been brought into operation with very suc- 
cessful results. The Exhibition held at Shepherd's Hush last 
\. .11 was very successful, and this company had a considerable 
traffic in connection with it. There was to be another Exhi- 
ti< n at the White City this year, which in view of the Coronation 
.in. I other special events in London was sure to be well 
patronised. 

On thi subje. I of rales and taxes their negotiations with the 
various l,.eal authorities in connection with the quinquennial 
revaluation had proceeded, and in some instances lhe\ had been 
successful iu coming to settlements which would result in a 
considerable reduction in their payments from April next In 
several instances, however, they had not been able to get then 
assessments reduced as low as the} thought the\ should be, 
and they had given notice of their intention lo appeal to Quni ter 

Session's. The directors considered that the whole methi 

assessing railway companies, and especialh the underground 
and suburban railways in London, was wrong ; but until the} 
could get the law altered the} were determined not to pay a 
l»nn\ more than they were absoluteh obliged on the exist- 
ing basis oi assessment. The project for a -aider, citv tor 
residential purposes between Ruislip and Xorthwood was being 
rapidh pushed forward, and the new properl} would no doubt, 
in a yen Short time he, one a valuable feeder to the railway. 
There were other building schemes on foot at various places 
on their lim which pointed to substantial developments, 
especially at VYemble\ Park, in which they were interested. 
\ proposal was on foot to form a com pan \ for the purpos, ot 
converting the Wemblev Park Estate, which comprised some- 
thing ov, 1 ' i' res, into a residential garden city. it trie 

5C h< an succeeded, as hi quit, believed it would .the;, would 
crel a very substantial traffic from it. 'I heir relatioi 
other railway companies with whom lhe\ had r 
ind connections ol various kinds were now ol a < 
character, and where the} were in competition the} 
i ng under arrangements that undid to the greatest 
sir W'u 1 1AM BlRI se. onded the motion. 
The Chairman, in reph to a shareholder sru d th; il_ the ^ e ate 
part ol their new cars was mad, ol steel, ,n,\ h. belieied tin 
],.,„„- wen strong enough fm all practical purposes. 
['hp renort was adopted 

. Special meeting which followed, the proprietors 
„;" d ill the company's Parliamentar} Bill, th. three 

! V, w first, to enabl .1 ni| in} to 

[. ,, | i„. ■ ilon Street and King I 

, ',,', th e New Mount Pleasant Post Office; 

hurl subwnv in order to bring the eiitranci 

,1 Station inio Edgware Road itself; and, 

thirdly, togi ■- thecompnm p, .vers u> issue stock «rt' h ™ te > 

a, an} tin,, hud ,t adv.sabh to do so. 



friendh 
re work- 

noim . 



ike 
in th 



I i 



th, e,l 



K 



FORTHCOMING DIVIDEND ANNOUNCEMENTS. 

diii h the principal railway companies 



below th, d it 
will announce Hen di 
l OMPAN y 
Hull and Barn li y 
-, ,,il, I ondon 

Midland 

Great W< stem 

1 on ,lor and S'ortli W, item 

Fur in 

... 



I lectric transit I" the South Coast. Lord \\ illingdon, a i 
don, Brighton and Soutl I n Co r, 

i,.e lo lb, toast ol tl .am at th. annual dinner 

liastbourn, goods clerical staff, stated thai he hoped befo 
,..,, then would b, clcctn. t, ms.l between I 
I Eastbourne. 









Date. 




Monda 


v. 


1 


unci v 


SO. 


Thurs, 


la 5 


1 


bruar; 


-'• 


1 , „l.e, 








3- 


Weill, 


,d. 


\ 




8. 
8. 


'I hill's. 


lay 






g. 


Wcdn, 


«li 


■., 







hector 

si d- 

ol the 

man\ 

ondon, 



EAST LONDON RAILWAY. 

The Proposed Electrification. 

The half-yearly general meeting was held on Tuesday, in 
Cannon Street Hotel, London- Lord (Maud Hamilton pre- 
siding. 

I he Chairman, in moving th, adoption of the report (a sum- 
mary of which appeared in last Saturday's Railway Times), 
said that there was a decrease of 1,210,453 passengers as com- 
pared with the same period ten years ago, and it must there- 
lore he assumed that a large majority ol their passengers had 
travelled 1>\ tramwaj or h\ omnibus routes rather than over 
their line. R, hiring to the question ol the electrification of 
the line, the Chairman said it was perfectly clear that without 
electricit} their position as regards receipts could not be im- 
proved, and he thought it was equally clear that with electricity 
a ven marked improvement was sure to lake place. (Hear, 
hear.) Th,\ had now the results of the electrification of three 
railways, two of them railways similar to their own, viz., the 
Metropolitan and the Metropolitan District, and the third the 
London and Brighton. The Metropolitan and the Metropolitan 
District Railways had he,u electrified for a longer period than 
the Brighton Company; but the results of those two companies 
proved conclusive!} that electricity, wherever the_\ had a large 
population, was the surest and best means ol attracting a 
large tiaiii, and ,,l producing satisfacton financial results. 
With regard to the Brighton Railway, that was on the over- 
head principle, and not on that ol the third rail. He told the 
proprietors two years ago that the directors thought it bettei 
t,, wait and sen which of those two systems was likeh to prove 
most effectual and economical for use on the East London. 
Ihai question had been set at rest, because it had been shown 
thai tin \ could not, il they wished, have an overhead system 
on their line, on account of the height ol their tunnels; hut, of 
course, having regard to the facl that the District and Metro- 
politan were both on the third rail system- and they were in 
connection with those railways the} should naturally, having 
had .<\\ opportunit} ol judging of their experience of that form 
ol electricity, have endeavoured to electrify their line on the 
same system, lie mighl stale that this question was no longer 
in an experimental stage; but they must remember that the 
-real difficult} the} had to contend with was that the} were 
noi masters ol the situation, either as regarded their liberty 
of action or, what was of equal importance, as regarded the 
raising ol capital. When they consulted Sir Ralph Littler two- 
and-a-hall years ago with regard to their position in respect ol 
the lesse, companies, he said thai Parliament would not have 
granted the lease to these six companies had it not been from 
tin implied understanding that a through ttaffic would be main- 
tain' | b\ those , nop. i nies ; I ml hi could not state defini'tel} 
thai n ■ ii absolute condition. It w is almost an implied 

condition ! therefore, in his opinion, a moral responsibility 

i , -i i h '■ six companies to continue thai through traffic. 

Then tl aros, w In thei , il the} went to the Railway 

i the} w ould I-- likeh to make tin order that that 

ii ed. I h, a a further question 

n this matter. The Metropolitan and Districl were 

I, and this company was not, and before the through 

iieii lim would have to be ele, trifled 
a b\ the lessee companies, and it was 
not in tin powei ol ih, Railwn\ Commissioners, even il the} 
wish, ,1 it, to i ompi 1 an\ r iilwa\ to spi nd i apital. He (the 
Chairman) was determined i i do all in hi- power to work in 
conjunction with the lessee companies, and he had succeeded 
in getting theit leave to havi the line prospected b\ one ol the 
1, ading el, ctrical companies, but il was with a i Ii ar under- 
standing that this survc\ ol the lim would in no sense hind 
them in regard to their future action. Dial survey would be 
compl, ted la lie end ol thi- month, and, wleai il was com- 
pleted, he would bring the whole matter before the lessee com- 
panies, lie had also seen two large electrical companies with 
regard to the suppl} "I energ\ ; but, ol course, he could not go 
furthei with them until In knew what was likeh to take place 
with round to the electrification ol their line. He should sa_\ 

that the .Metropolit; mpan} and, possibh the Di < om- 

panv, would I" fa\ ble to joining in finding tin necessary 

u, \ foi th, , I, i mill ation oi tin ii lim . and he would per- 

suad, his own hoard (the Great Eastern Company) to join with 
the othei -, il tbe\ agre, ,1 to tin i lei trill ation. W ith regard 

to the Brighton, Chatham, and 's 1, [£as Railways, he 

wished the shareholders lo use all their influence, b\ calling 
, niion ti • the fill t that this line w as prei hided from 
carry inn the publii in a manner which the} misrht expeel 

I ,| \\ i n i. , seconded the motion, which was carried unam- 
moush . 



January 28, 191 1.] 



Till-: RAILWAY TIMES. 






1 issu< <\ 



GREAT EASTERN RAILWAY 
The half-yearl) accounts tc I >• 
w eek I ' 1 isual anal) sis folli i\\ - : 

Capi 1 

cpenditurc . . 

Ilov 
. . 
Preference and guaranti 
Debenture -t.>i k . . . . . . i 

Loans 

M01 tgagi 5 redeemed . . . . tig 

B debit nturt stoi k redemption 

Utt . . 

Premiums . . . . . . 1.584, 191 

Balance to debit oi capital account 






The capital expenditun foi the pasl half-year amount' 
which ,£26,466 was on lines < 1 

its, etc., ami £60 "" convei si< 
1 rher expendil ur< In the current ha 
quent half-years, £874,908 ; total, £921 
Capital pow 1 -;\ lilablt 

REVENU1 ' : 

'I'h, 'mi i,.- the half-yeai ended I »• 

l:i\<-. th( receipts under itii- head a^ 

,, 

,,' Third-< lass 

Parcels, 1 
Mails . . 
Mcrchandis 

Live stock 
Minerals 

ind wagon hi- 



atal stcamb 
Ipswich and Harwit h boats 

>fl Harbour dl 
Fossdyki n toll> 

Wisbech tramways 

.. .. 

Transfi 1 . . ^. 

re* eipts 



Dr. 26 , 
2.75° 

| (.205,01 ; 



215 ,88 

, |.,l 
I'>. 2'" I 

.18 



■. ■ nuc account for the same p 1 i 
shown in reundi 



ioi". 

7" 
1,021 

' 

Total expenditure 
Hi. int and the proposed approprial 

the balance available for dividend ma\ be summaris. 
follow:— 

mings 1 268,627 .. 1 

Sin 



Maintenance oi way. etc. 

Carriage and wagon repairs 

Genera i chai 

Law cha 

Parliami >es 

Compen 

Empl 

< Is 

ices 
Government duty 
Continental steamboats cxpi 
Harwich Harb 
Ipswich ami Harwich boats 
It Harbour, work:; 
repairs 

ki Navigation repaii 



891 
8,814 



Total 






.... 


1 '-t 








84 108 






. 


— 
















Balance carried forwai 







I h< 

£ ' " t 

Third-class . . . . ; 







total 
















■ 






Joint lines 

rented . . 






■ 






1 and worked 


















• 


1 1,1111 


111 


1 otal operated . . 
Is 


7. 
1 




• 



Total 

. cut. per 



1 At <j |iei tain, per annum- 






Total .. . 

Including mill 

The reporl -t itcs : " I here is an ini r< asu under all h< 
traffic, viz., £32,498 in passei . 

£2,748 in parcels; £41,439 in merchandise; £15,65481 
and £1,774 in cattle. Thi in thesuburl 

train 

directors havi de< ided t 1 

deposits on reason tickets. A new l«'^i'' train for the suburban 
service is in 1 tion at Stratford works, and the 

rs havi decided to adopt this type as the ful 
iburban trains. A new station has 
Squirrels Heath, situated betwei R 

1 main line, within a quarter of a mile <,f tin- 

new ( ■ Ijoining thi R 

linen;. ow an incn 

Ls an increase in thi 

■! this is partly dui 
Bj ii", Is Exhibition, which al 
to the A 

improvement in thi y ol the clerks in tl 

and goods traffic departments, this course having been r< 
possible bv the improvement in the position of the company. 
1 

Railw p S ietj has reported that a further sum is 

Is up ;ii .1 proper basis. ["hi d 1 
immend the | inually 

the furthei - 

my deficienn 
tion with such funds. \ r< a lution I 
will be submitted to th< 
deposited anv Bill in Parliament b>r the ■ 
Bill in Parliameni 

mv will be submitted foi 
meeting] The powers in this Bill requiring approval 

rn O mpaiv 1 
Great Northern 

■ the inter* - 
been deposited in Parlian 
sideration of tl 

CENTRAL LONDON RAILWAY. 
Thi 

expenditun ■ 

/'O-.OIHI. Al 

- 



THE RAILWAY TIMES 



[January 28, 191 1 



,£3,956,316 \i/., ordinary stock, £3,0 000; debenture stock, 

4 per cent., ^.."92(1,000; premiums, etc., ,£"30,316. The report 
-i.ih - : "Tin increase ol 601,675 passengers in the number 
carried during the half-year is principally due in the continued 
developmenl <>t the through or exchange bookings which are 
in operation between the Crn1r.1l London and other Under- 
ground Railways in London. The traffic to and from tin 
Japan-British Exhibition at Wood Lane has also contributed 
i,, 1 hr in. 11 asi . A contract has 1" 1 n 1 nti red into for thi exten- 
sion "I the company's railway from the Bank Station to Liver- 
pool Street and Broad Street Stations. The work i- well in 
hand, and it will be proceeded with as quickly as the special 
character ol the construction will permit. The high level sub- 
u.i\ to connect the City and South London Company's Bank 
Station with the Bank Station of the Central London Company 
is also being constructed, and will be available for use by the 



lublic 


in the course of tin 


current hi 


ilf-vear. At the con- 


lusiot 


/: 


eral meeti 


ng an extraordinary 


rllrr; 


1 meeting will be held, a 


ml .1 Bill to 


empow er the < Central 


.oikIo 


11 Railway to construct 


new railwa' 


^s ; to confer running 


H iW IT- 


. on that company over 


certain pot 


tions of the railw n\ s 


J the 


( liv. it Western Railway 


Company 


• to authorise agri 1 - 



ments between the said companies, and for other purposes, will 
be submitted for the approval of the shareholders. The object 
ol this liill is to obtain Parliamentary sanction for the making 
of a short extension (about half a mile in length) ol the 
Central London Company's Line from Wood Lane, to form a 
1 million with the Great Western Company's Ealing and 
Shepherd's Bush Railway, authorised in 1905. It is intended 
by this means, and b\ the exercise of running powers over the 
fireat Western Company's line, to provide a through service 
the Ealing Broadway Station ol thai compart) and 
1I1.1I London Company's Liverpool Street Station, now 
se of construction, thereby providing a direct rout, 
1 the Great Western, Great" Eastern and North London 



betw 

the 



THE LONDON, BRIGHTON AND SOUTH COAST RAILWAY. 

Mm h interest attaches to the report of the London, I '.1 ighton 
and South Coast Railway for the past half-year owing to the 
great improvement which is shown in the position of the 
company. The gross receipts shov, .111 increase of £55,246, 
while the expenditure has increased only £27,229, so that 
thi result is a net increase of £28,017. The ratio of expenses 
to receipts has declined to 53.84 from 53.98. The capital 
expenditure during the half-year has amounted to £115,712, 
which has been mainly devoted to the electrical equipment 
"I 1 'it. mi lines between London and the Crystal Palace, 
through Clapham Junction, Balham, Streatham, Dulwich, 
Tnl si I Till and Norwood. These works are proi e( ding rapidly, 
["he s, heme includes tin- provision oi repair shops and in- 
spection and storage sidings a1 Nbrvi I Junction, and the 

extension oi the line equipment thus necessitated will afford 
facilities for improving the services a1 that important station 
Othei considerable items of capital expenditure are the cosl 
ol altering and improving Clapham Junction and Worthing 
Stations, and the construction oi the new carriage and wagon 
shops .it Lancing ["he main feature of the grow th in receipts 
1 the revival oi the third-class traffic, in which there has 
been an increase oi nearly three millions in the number oi 
passengers 1 arried as compared with the 1 orresponding period 
oi lasl yeai Tins is .1 resull largely due to the inauguration 
ol electrical services on the railway. Compensation charges 
have been abnormally heavy in the half-year and an additional 
reason for the increasi oi expenses is that the comparisono 
cosl ol the electrii tl servia is made with a period in which 
those services were al work for only one month. Two Bills 
have been deposited by the company for promotion in the 
forthcoming scssiot 
I ho ,11 1 mints fot I li 

Total 1 xp, n.hiiiii 



usual analysis 



hall year follows 

I \ V IT A 1 



lota] 



fall, 



'55.o4; 



£32.264,228 
10,480,233 



lialan, e al d, bit ol 1 upital a, nt 

The , .1 in,.,!,- ol Inrthi 1 1 xpenditun 
i dm ing the 1 in 1 mi half-ycai 



• ■ £i.7 J 

m capital nit 1 ■ 

mil / 1 1 j _■ , (.01 in sub- 



sequent half-years — total, £965,443. Capital powers and 
other available assets, £99,296. 

The capital expenditure during the past hall-year was 
/i 15,7 1 2. oi which £103,809 was on lines open for traffic, 
£2,336 was on working stock, machinery and tools, and £9,567 
w.is on steamboats and dredgers. 

Revenue. 
The revenue account for the half-year ended December 31 
shows the receipts to have been as follows: — 

[909. tot". 



Passenge 



First-t lass 
Se, ' md-class 
Third-class 
,, Animal and 

tickets 
Parcels, horses, etc. 
Mails 

Men handise (less 1 artag, c 
I ,ive stock 
Minerals 
Transfer Ices 
Rental of property- less payments 

for repairs. . 
I 'mills on working steamboats — less 
■id lor depreciation and 
insurance 
Mi I, age of foreign trains 

'total receipts .. 

'he expenditure for the s.i 
M . , 1 1 , 1 ' 1 , ., tic ,- ol u ay, work 
Locomotive power . . 
Carriage and wagon repair 
Traffic expenses 
( '.i-iicral , harges 
Law charg, 

Parliamentary expenses 
Compensat ion 

Passengers 

< Is 

Workmen 



Lest re, overable under com- 
pensation policy 





£94.253 •• 


£96,545 




159,850 .. 


1 17.^52 




744,373 •• 


794-057 


season 








158,350 .. 


159,4 54 




140,332 .. 


142,775 




9,250 .. 


9, I'"' 


lenses) 


253.737 ■• 


263,598 




6,789 .. 


6,9 , ; 




190,664 


[93,04 i 




306 .. 


313 



. £1,836,405 


.. £1,891,651 


1 iu,l was .is 


follows . 


£152,000 


.. £153.675 


293,716 

80,998 

. 285,214 


3°5. 2 99 

82,069 

289,883 


39,086 
1,038 

3^7 


38,279 

,. I"' 1 
878 


9S0 .. 

3.717 •• 
3,248 .. 


£5,535 
3,804 

3.S24 



Rat's and Taxes 
i'.oy eminent duty 
Demurrage and mileage oi rolling 

stock 
Newhaven ] larbour working c hat ges 

less harbour dues 
[oint lines (London, Redhill, &C 
payable to S.E. under award . 
"lolls payable less tolls receivable 

rotal expenditure .. .. £991,372 .. £1,018,601 

I he in 1 revenue and the manner oi its disposal arc- shown 
hereundet 

Balance brought forward .. .. £21,944 •• £25,469 

V, 1 ' ai nings . . . . . . 845,034 . . 87 5,050 

Interest account Dr. 178 .. Dr. 4,223 




Total 




; 866,800 
I9O9. 




£894,296 
1910. 


Prior , harges 




£163,788 




- [64,412 


1 ien, volent and genera] h 


suran, e 








hinds 




.s 6O0 




8,650 


1 'refer, nee dividends 




288,079 .. 




288,079 


1 lividend on undivid, d on 


1 stock 


108,978a . . 




1 1 1.3.S.1/. 


preferred ord 


. stock 


116,773, .. 




[09,689*2 


dill 11 ed ord. 


sto, 1 


i 




[73.674/ 


Lai. im r lo nexl half-year. 




|6,86] 




38,203 


Total 


/ 866,8, 10 


£894,296 


(«! \. tin rati ni - i 1 in - a 


nnum, in- a 


1 , 


■ 111 


, whole year 


1 Ai the ran ol I pen enl 11, i ami 


mi. nia.M, 


... , . ill foi 


III 


e whole yeai 


' Al 1I1. rati "1 c! i" 1 c, hi l"i .111 


num. m.ilai 


,: ,, |1| 


ll 


e whole yeai 


1 in 1 cent., 1" inn for tin wlloli \. 


.u "> I, 1 1 


.. 1 C III 111 1 1 


th 


. wholi yeai 



Tkai in . tn 



Hall vi ,11 1 nd, d I ICI . inbia ,1 

I ',, iscng, 1 - First-class 

Se, ond-class . . 
Third-class 

total 



[909. on- 

1, j8,8 (3 . . 688,928 

1,848,655 . . 1 688,026 

. 22.05.V7* •■ 25,868,575 



25-445,776 



28,245,529 



January 28, 191 1.] 



ed 
Pari ly owned 
Leased 

I mi - woi ked 
1 orcign lines woi ked ovei 

t*otal 
ill ag( Pas 

■ 



Till' RUIAVW TTMF.S. 






1900. 






i-"l ■ 




l-"l 








5.-2-I5 
















; 



LONDON, TILBURY AND SOUTHEND RAILWAY. 



5.675.764 






The accounts for the half-year ended December 31, 1 

u ere issued on Thursday. < >ur umi.i! analysis is given below : 

(All I Al.. 

I expenditure 
Total receipt as follows) 

1 1 dinary st.>ik . . . . . . • -•. 1 1 1 ,8 \o 

r, 804,100 
Debenture stocks . . . . . . 1 

Premiums . . . . . . . . 523,824 

Balance .it debit ol capital account 
I stimated further expenditure In the current hali 
■■■ . in subsequent half-years, £110,000; total, ft 

Capital powers and other available assets, £6 1 

The capita] expenditure for the past half-year amount 
£18,336, .ill of which was on lines open for traffic. 

MUE. 

The leceipts and expenditure on revenue account for the 
half-year ended December 31 were as follow:— 

him. 
Passengers, parcel 

Is, minerals, and cattle .. 68 $27 

Sun. . . . . . . . . 13, 550 . . 14,1 



pts 






£362,243 



Met earnings . . . . . . /149.46] 1 

next revenue and the pro dame 

available tor dividend is summarised below: — 
nee from last half-year •• £ 2 .893 

Net earnings .. .. .. .. 1 4'*^' >i . . 15: 

Sundry en . . . . . . 4,292 



.. 

Trior charges . . 

nee dividends . . 
try dividends 

ext half-year 



.. ;< 64 

- 1 1 1 / 






6 At the rati fierannum. 



Total 
a Ai the 

The . for the past half-year show an incn 

nses an in< 1 and the net 

earnings an increase oi £3,442. The ratio o) expen 
receipts wen arison with 56.52 percent. 

Traffic, i 
nded December 51. igio. 

21 ,730 
Mileage Lines owned .. .. 7'.] 70] 

iwned . . 8 

Foreign lines worked over 8{ .. 



rotal operated 
Train mill ag< • Pa 









Total . . 1,261.700 

Including miles run by tl 

The report states: "The traffii foi the past hall 
1 ompared with thi show s 

ses under all heads, viz passenger, £i 
i handise, ( 2,982 : mini The 

1 .1 Bill in Parliament for furthci 
working ol the line, foi 
additional capital, and foi ue, upon the appli- 

cation of stockholders, certifii 

or any portion ol the stock registered in their names. lit. 
BUI will lie submitted for the approval oi the pri 



NATIONAL PROVINCIAL BANK OF ENGLAND, LTD. 



H 

!•:., \ii w . 1 ) 1 

Til. (Sir. R. T. Haim 

nd the auditors' report . 
The ( '11 in' 
m\ dul the adopt inn nf the neport, which you will, 

as usual, I presume, take as \ : in attemptii 

rustoman review of the year just past, the fn ■ enl that 

stands out most prominenll) is the death of our Ix 

.01. Kins Edward \ll \\ • sh.iii all, I am -up-, wish 
to place mi record our deep si use of ll ch the Empire 

has thus sustained, and at the - ibiding 

loyalt I me, ami to h King 

\ \ 
other events in our domestic politics 1 
and -1. it with these we are here hap] 

lirectly on tin ■ 
tin c< niiiii y. Koremi >sl aim u .; these was ti. 1 nl of 

revenue. Tin normal relations between the Treasury and the 

ie first 

si.\ months 1 I ■ dating 

money, was a heavy borrower. As the revenue was gradually 

■ situation righted itself, till, by the month of 

:. relations may be said to have become again normal. 

i disturbing factor lias been the holding of tw 

11 ti 'Ms within the twelve months, and all anying 

political turmoil an.l distraction. When we bear in nee 

Sovereign, the 
postponement of the Budget, and thi tv .General I 
surely a wonderful tribute to the vitality of our con 
and the soundness ,,f its 1 that the year has 

throughout one of continuously expanding ti 

Amazing Imports \sd Exports. 
Iinl. .d, the figures are so stupendous that it seems worth 
while to recall them, and to try and r<-alis,- their meaning 
: " The total tin novcr U r I • 
amounts to ;£i, 212,806,088, and on • to the 

value of ;l millions sterling have entered or left 01 1 

nearl) two million, w ere imp 1 
in another way, it means that external 

»rv man. woman or child 
in thi United Kingdom, of which ^."15 consisted of it 
and the remaining £\2 of 1 I nazing 

S, and far ahr.nl ol am. tals in this 

in overseas < 1 >mn 1 • 
cur home trades have als,, on the whole been doing well — in 
well. Agriculture, our greatest home 
industry, has. perhaps, been the Last favoured, but even here 

it not unpn 
In iron and coal there ha 

South Wales a protracted strike has . O 

si also the 

shipbuilding 



how 1 



now again well employed at paying pric 






n industi i< - '1 
ceilnnii-il a. tivitv, while in I 

So that whether wi 
tailwav receipts, the B 

and, or the decrease in 

■ r, all alike p 

rnviv.ll, Whi 

bv am means exh 

ighl with it 
u,<\ banl 

\ 

Tin 

I 












88 



THE RAILWAY TIMES. 



[January 2S, 1911. 



average bank rate was £3 14s, 6d. against £3 >. the previous 
year, the averagi rate foi lin< threi months' bills £3 js. 2d. 

ngainsl . [d., and brokers' call mi ^2 5s. 5J«1. 

against £1 1 ;s. okl., and short loans to stockbrokers £4 ' s - jd. 
against £.^ 18s. roki. We pa\ the sami dividend, and have 
appropriati -I £1 ;o, ut ol the profits and £200,000 from the 

II >ervi fund, j [30,000 in all, to writing down investments, as 
shown in iln i. port I will now take the figures in the balance 
sheet, beginning with the liabilities :— Capital ^3,000,0 1, 1 
before: reserve fund £"2,150,000, reduced l.\ £200, as pre- 
vious^ stated current, deposit and other accounts £"6t|, 142,781, 
an increase of £5,601,208 ; acceptances, etc., £1.114,(143, ;in 

'■ of £320,004; profit and loss account ('including 
£90,165 brought in from previous year) £716.378, an increase 
"I £107,212, showing, afterpayment ol the dividend amounting 
1 , £510,000 and applying £130, to writing down invest- 
ments, a balance ol £96,378 carried forward to 191 i— cheers - 
a slight decrease ol £2,787. All these figures add up to a 
grand total of £71,503,803, an increase ol £5,718,515. On the 
assets side, cash on hand, etc., and at the Hank of England, 

unts to £9,891,041, a decrease of £"181,307; monej with 

tin brokers at call and short notice £4,666,111, an increase 
ol £28,443 ; investments £16,681,076, an increase of £520,700 ; 
bills- discounted, loans, etc., £38,509,801, an increase ol 
£5,041,192; acceptances, etc., as shown on the other side; 
bank premises in London and the countrv, /ji; 1,329 a dei reasi 
.)f £10, u.s. 

Tliere is one paragraph in the report which vou will like, 
perhaps, to be specially mentioned, and that is the dividend, 
which will in future be paid subject to income-tax. Possibly 
some may think that means a subtraction from the shareholders 
1" a portion of the dividend. We max at once disclaim anv 
such intention. The money hitherto absorbed bv the pavment 
of income-tax, will in the future be an addition to the profits, 
and will be divided amongst the shareholders. (Hear, hear.) 

1 now beg to move that the report be adopted, and before 
putting it lo the meeting I shall be glad to answer am ques- 
tions arising out of it. (Cheers.) 

Mr R. Wh.kui 1 have much pleasun in seconding, 

I he resolution was put and carried unanimously without 
discussion. 

On the motion of the Chairman, seconded bv Mi G F 
M.m.coi.mson, the retiring directors, the Earl ol Lichfield, Sir 
James [,. Mackav, ami Mr. Colin F. Campbell, ware 
riKuish re-elected; and the Earl of Lichfield briefh returned 

III inks on behalf of himself and colleagues. 

Mr. W. V M.m.coi.mson proposed the re-election ol thi 
auditors, Messrs. Edwin Waterhous. and W. R. Peat. 

Mr. J. S. \d.\ms seconded the resolution, and it was agreed 
to mill con. 

Mr. \\ vteriiouse, in returning thanks for the re-appointment 
o! himself and colleague, said the aw. amis disclosed such a 
state of affairs that the auditors felt renewed confidence in the 
soundness of the hank and the excellence of its management. 
(Hi .11 , I,, ..r.l 

Mr. R. II. C. Harrison proposed: "Thai the thanks of the 
ilders be given to the directors, the general managers, 
branch managers, and' the other officers ol the hank for their 
efficient management and services." In proposing the resolu- 
tion, hi remarked that he believed he voiced the views of the 
shareholders ffeneralh when he said that the hank and its affairs 
wen admirabh managed b\ the directors and the staff, who 
deserved a hear I \ vote of thanks for their Ioval services. (Hear, 

I h i.,l man..,;, rs, bram h managers, and the 

-1 ill generath equalh deserved the praise of the shareholders, 
who that day had the pleasure of meeting mam .,1 the gentle- 
men who were associated with the management, both in 
nd in 1I1. . ountn . 

\h \. (' \\ . II. \i su\ seconded tin- proposition, wh'u h 
was carried unanimi mslv. 

I he Chairman, in acknowledging the vote, said th< board 

and the w hoi, stall returned their most cordial thanks lor the 

us wax in which lh. resolution had been proposed and 

i II, issm.,1 the shareholders that lh,- staff valued 

v, r\ highly this appn , iation ol tin it services, and In- was -lad 

, -a,, ialh that 1 tion had been made ,,f the count n staff, 

although, perha|)s, then was no stafl so homogeneous as that 
,,l tin National Provin, ial Rank ol England. Ilappih , with 

Vi-I \ lew . 11 I ■ I u 1 \ as lads from 

1 I, and gn v. up in lln service, and tin ii whole life was 

lii cl with a I h - moled thai esprit ,/e corps whi, h 

,1 tabled everywhere When thej ci msidi 1 ed how w idel\ 

their branches wen .pread ov<-i the country, the\ could well 

land hew inn, h esprit tie 1 orps was apprei iated by the 

staff. Ii had I. d to p, riodii I 1 thi pro-\ in< ial 

■ :.: , . an e, .aid tin ■ oming up to the 



head office at stated times of every manager in the country. A 
sports club had also been instituted, ami then- was general 
harmony throughout the stall. All concerned hit proud to 
belong to such an institution as this, and were glad to render 
it service. 1 1 fear, hear.) 

<>n tin motion of Canon J. A. Stew \n i . seconded by Mr. f. E. 
Tubbs, a hearty vote of thanks was accorded to the Chairman 
foi his able and courteous conduct in presiding ; and the Chair- 
man, having brief!} acknowledged the same, the proceedings 
terminated. 

BARRTf RAILWAY, 

( \1'I I AL 

The expenditure to December 51 amounts to £6,307,927, the 

I 1 I eipls tO £6,285, ',S8. 

Ordinary stock .. .. .. .. .. /j, 001, 240 

Preference stocks .. .. .. .. .. 1,883,051 

Debenture stock .. .. .. ., .. 1,220,031 

Premiums, eti . . . . . . . . . . 1,181,066 

Balance at debit ol capital account, £22,539. Estimated 

further expenditure In the 1 intent half-year, £6,500; in 

subsequent halt-years, uncertain. Capital powers unl other 

available assets, £1,3 52, 1 |g 

R 1 VENUE. 
The account for the half-year ended December 31 shows the 

receipts and disbursements to have been as follow : — 



Passengers, parcels, etc. 

Men bandise and live stock 

Minerals 

Shipping receipts 

1 lock receipts 

Miscellaneous 

Total receipts 

total expenditure . . 

Net re, eipi 3 

Balance from last half-year 

Sundries 

Total 

Prior charges 

Resen e fund 

1 'reference dividends 

1 (ividends on ordinary stoi k 

I lahiii, e to next half-year 



Total . . . . . . . . £162,865 . . £150,120 

A, the rate of el pel 1 1 m pi 1 ,11,1 1 t At tlu.- rate of 6 per cent, pel annum 

The gross receipts in the past half-year show .1 decrease of 
£39,742, the expenses a decrease ol £26,586, ami the net re- 
ceipts a decrease ol £13,156. The ratio oi expenses to re, eipts 
was 59.86 pea' cent., as against <"<=,\ pier cent. 
Trafi n , 1 1, 
Half-year ended December ;i. 
Passengers carried — total number 1,640,874 
Season-ti( kits 

Mileage - lanes owned and worked 
Train mileage* I 'assi nger 
t. Is 

Total 

■ it pil. iiiiii.', shuntine . and assista 

pa -,11.1 a 1. ii < ' \ - Is and mineral 

1 [6 1.0 1 |,.,„, „,.,. 1 trains < 62) good; 

mileag, . I 

The report slate-. " \i ., special meeting, which will 
be held at the close oi the ordinary meeting, the sani tion of 
the proprietors will be asked for the promotion, in the present 
session ,,1 Parliament, oi a Bill empowering the o mpany to 
construct certain railways in the county oi Monmouth 
to \ est in certain 'circumstances certain of the railways 
authorised by the Company'sAct oi 1907, as varied by subse- 
quent Acts, in the Compan\ ami the Great Western, London 

I North Western ami Rhymne\ Railway Companies, 

10 constitute a joint committee foi the management oi such 
railways; to abandon portions oi certain ,.l the railways 

authorised by the said Ad "I 1907 ; t nfer running powers 

upon the Alexandra (Newport and South Wales; Docks and 
Railway Company ovci certain ol the railway.? authorised 
by the Barry Railway \> t 1907; to repeal certain sections 
in the Company's \, n ol 1907 and 1909; 1,, extend the time 
toi completion ol works ami acquisition oi lauds undei the 
V is oi 1, ,,.-. s ami 'loo,, respectively ; and tor other 



lUo... 


Into, 


' 51,932 . 


1 j, .,] 70 


-' ',8 58 


19,932 


n'\i"7 ■ 


1 !0,i03 


50,100 


47,056 


147,726 . 


1 i5,33 f ' 


19,321 ■ 


1,945 


£406,284 .. 


- [66,542 


.■ p., ,, , 1 


219,415 


/ in, 1,28 j 


'.< 17,127 


1,527 .. 


1,807 


1,055 •• 


r,i8G 


£162,865 .. 


£1 50,1 20 


.3,880 .. 


42,174 


10,00,, 


5,01 10 


10,655 .. 


40,655 


•65.040 •• 




i.-'U ' 


2,254 



191 19. 

,640,874 

2,9158 


(Ml". 
1,516,404 

l.e-S 


86 


86 


270,457 


262,861 


591, 41 1 


562,150 


861,868 


825,011 


engine mile., 
ins, 62 na 


e, as follows— 1909 
lotal gross nu!< age 
- 604.862 . lotal gross 



Jam aky 28, 1911. 



Till RMI.W W TIMES. 



LONDON. CHATHAM AND DOVER RAILWAY, 
irl) ordinm 

1 
! 1 R Hoi - VVi'llini H Dyl I 

Mi I . \\ l.ivesey) read th< 1 
.m. I thi chairman affixed thi 

t. 1 1 . .1.1.1 s. 
■ \s th. 11 said : I .adies and 1 ri nth mi n, 1 1 
1 ■■ I hat thi repori ol thi diri ctoi - w ith th< 

1 ipted, and thai the dividl 
oth prox., .c~ recommended therein." I think i; 
ind you thai ai the \.<~- 
holder; wish that .1 longer time might lx- allowed 

to <-li| the Managing Committee's meeting and 

*inr own, so that stockholder* in both companies 

attend the separate meetings af 1 1 1 - 1 1 - 

irrangement to meet the convenience ol all 
nly a small 
stockholders in both companies, but aftei much consideration 
we h. in interval ol an houi and a-hall b< 

the !»«■ meetings. We have made an effort to meet thi 

is man) as possible, and il 1 provi 

re must try another plan. (A voice : !• long.) 
I mark made ; I think a si sir iuKI 

eiapsi between the two meetings'. (Hear, hear.] Oui repori 
and acci unts tell their own story, and you will • 
we ha> ■ > able advani 

during • If-yeai 1 'ou will not expect from 

.nit of the work ol youi Managing Committee, 
the salienl he repori mav be given 

ittended thi 
! istern and the Managing Committee, ["hi 
show - of w hich x ' 

■ - - -. 

boats. On the other sid. ol the accounts 
you will see that we have spent, after reduction ii 

k and nearly _ 1 upi 1 

in ibuting, as we h 1 comfort and 

Were it not for this extra expendi- 
tun upon betterment, the whole increased receipts ol ;£,< 

mentioned would have been obtained with practiralh 
« orking 1 xpens. s. 

1 I I MPROVKO Kl si I is. 

own report, we receive .is our share of the im- 
Its .111 additional! sum ol .;_ -' s -t' s -t- making the 
total received from thi Managing Committee , 

To this the net receipts from our sep rt\ has to bi 

result being that after deducting n 

dance of £-- , . I 1. ducting 
interest un debcntui irior charges, amounting 

in available balai i len I ol 

is the full dividend for the half-year will 
., balance to l»- carried forward 
f-year ol close upon £72,000, or about x 
more than in the corn <l of last v 

rd we ha\ i» n - Vpplausv 

Early in the half-year wi issued some x'. s ~' " 

ock, bul an me w ill 

show thai although the interesl has to bi met out ol the revi nue 

the total amount . 
slightly lis> than in tin - th< pro 

h were 
bearii i thai date. You will s< 

le amount ■ n arbitration 

I mention tl 1 may puzzle sonn 

new si ne. ,\ 

\'su in connection with the Sheerness lini ] 
Hies 

by the 
these holding's for an 
■ 

1 I share in capital expendil lire 
1 the half-i 
tinue all details iditure, and I 

think the information in the managing comrnitte. 
- 
and i 

1 

£-'■■ 

R 
lines. \\ ; iv< coupled up the I 

iC away with the old viaduct line 
Eastern 1 
then 
the » 



I 
I 

I 

doubt, we havi bi 1 
w ilh - 
tralrii . 
inform 

nils withou 
expenditure, h is perfectly tri 
cannot alway s In- guaranti 

ing pi i. 1 - a which 

may pn 
st.'incls to .l.i 
administration. Another juiiiit i> 

lion h.is ..Is,, bei n .1 steady | ■ »'«'h 

h rati .1 pace for the half-year » ith v- 1 ■ 
O 

part ol the balani ■ 
We cannol 
nice from climate, for I do nol think, in 
1 1 remember a six months durin 
was so little likely to tempt a passengi r to tr 
; bul we had been helped, no doubt, by revival in 1 
ire money to spend. Oi 
1. is likewise gaining in 
one in which to dwell. 1 hapi 
ile acquaintance with it, and you would be as 
the number of people who • 
;,n<l asking me if I could find out 
could find a dwi lling. Vl all events, we must 

d d« velop our distant traffic as far .1- posstbh \\< 
. ting the demands ol the maintenani 
shown bv the additional sum spent last half-year on our 
rolling stock and permanent way. I haw In 1 1, more ' 
Manv of you will have been present al ll - ol < M '- 

South Eastern Railwa\ Co., and I will concl 
whilst we sternh refuse to pn | re hopeful f, 

md the account we g 

s inducement to p 1 ; J , u " 

j maintaining the line, and whatever may 
to maintain and kei 
( mipan\ . Cheers.) 

Mr \ki rs Dot ct vs, M.P., se onded th< n 
Mr 1;, 1 , , - ! ed whether the ci mpany ha. 

super-heating ol steam with a view to economy in fuel, 
asked whether the chairman could g 
whether there was any prospect ol I 

london R ' : 

that this compa'nv was debited with the -urn ol £.4,000, there- 
1 was time something was done wit putting 

that railwa\ in connection wil 
i, „,ighi eventually be turn.. I int.. a profit 
nies. 
M, D las said I" 

rompam on the Has, I 

. hon. proprietor had b. 
he would ha- 
Mr Cosmo Bonsor with rec 
He could onlv ad 

M 

,. 
CitMRMAN, in ansv 
the mattei 

1 ation. 
The 11 solution was then put 
Mr Vkkks Dot 1.1 \s moved 
WiMiam II 1 
dinci 

Ml \ UIIAMI I SPI ns si 

1 



v o THE RAILWAY TIMES. [January 28, 191 1 

oil, agui , 1,, .1, 1 with him, for then was no matter of concern hislorj ol the two companies a sum ol upwards of £1,000,000 
in their compnm thai did nut eceivi from .ill ..I them proper u -'s availabli for division between shareholders. Second-class 
and careful consideration. He concluded l>\ proposing the passengers had increased in larger proportion than first and 
re-election ol Mr. Vinceni Henry Penalver Caiflard as a director third-class passengers. Whili that continued it would be a 
j thi company. great mistake to do away with the second-class service. Con- 
Mr. \kii;vi)"iu \s seconded the resolution; which was tinental traffii had increased b\ £29,000, which was nearly, 50 
(cireed to 11cm. run percent, ol the whole increase for the year, and fpr thi firsl 
\1, M.uxa proposed thi re-appointment of the retiring time the Folkestone-Boulogne route, with its two services, was 
auditor, Mr William Barclay Peat, and remarked incidental!) running very close upon the Dover-Calais route, with its three 
thai he was sorn that Mr. Vincent Hill was retiring from the services. Increased receipts for traffic had not been accom- 
position ol gem ; al manager, but was pleased to know thai the panied by higher traffit charges, as the whole increase on the 
companv would have his services on the hoard. He was also expenditure side ol the balance-sheet was due to money spent 
glad to" know that the post of general manager had been on permanenl way and rolling stock. 

accepted b\ Mr. I-'. II. Dent, who had filled the post of '1 he\ were taking in hand the matter ol the steam-heating 
assistant-general manager. He hoped that his appointment " ; railway carriages, and hoped to have this improvement corn- 
would result in the payment of a dividend at no distant date pleted before next winter. The directors were negotiating with 
on the ordinan stock ol the companv. In " Dover Harbour Board to get possession of the reclaimed 
\l,-. si Cedd seconded the resolution, which was carried land al the shon end of their lines. Differences between them 
unanimously. anc ' ' nr Postmaster-General had prevented them from altering 
On the motion ol Mr. St. Ckdo, a hearty vole ol thanks the Continental services in a sva_\ which they desired, but they 
B 1. accorded to tin eha'rman and directors 'for their services would shortly be replacing two ol their paddle-steamers with 
during the past half-year, and the proceedings then terminated. the new turbines. 

In conclusion, he had to announce that Mr. Vincent Hill had 



The a. - oui, is for tin half-year 1 ndi d December .; 1 , mo., 
issued last Saturday. Our usual analysis is appended: 

(' MM I M . 

Total expenditure . . ■ . < 10,42 1 

[otal re< eipts (allocated as follows) . . 10,01 2 

Arbitration ordinary stock .. £11,259,282 

Second pn fei em 1 stock . . . . 869, 5 52 
Arbitration prefen n< e stoi I. 



asked to be relieved ol tin duties and n sponsibiliteis n! gi neral 
manager. The committee had arranged with Mr. Hill that 
he should go in March, and they had nominate! Mr. Dent, the 
present goods manager and assistant general manager, to lake 
over his duties. Mr. Hill had been oik red and had accepted 
a -1 al on thi board ol tin South Eastern Railway. 

Replying to discussion, the Chairman said that "nothing stood 
in the wax ol a complete fusion ol the South Eastern and 



Shortlands railway guarantee .. 280, Chatham Railways exoepl the stamp duties, which would 

SI is rent-charge stock .. 124. i..s amount, be believed, to £200,000. Thi present arrangement 

Loans .. .. .. .. 246,140 was working very smoothly and well. 

1 lebenture storks . . . . . . to.oSg 070 

Subscriptions by other companies 416,000 - SOUTH EASTtRN RAILWAY 

[ Balanci a1 debit ol capital account .. .. £411,010 ^ |i c|ln < () [} ONSOK presiding al thi separate iiieetin" 

Hii capital expenditure .luring the half-year amounted ;.. ,,, tne Soull'i h.is.ern Railwav Company, said thai thi Mnna"- 

£37. 355. "' ulli,h ~ '-•3° 8 wns " n '"""' "l"' n '"'" tramc ' •' nd ing Committee were at last a'ble to hand over a sum sufficient 

£-"25,047 on the South Eastern and Chatham Railway (out- |( ,. ;]|( directors to oa\ a dividend on deferred st. 
panics' .Managing Committee. Estimated further expenditure | Ull matters he 'would refer to. He was cunndenl thai a 

— in the current half-year, £35, 1; in subsequent half-years, well-ninnaged hotel i,, Boulogne wool. I be a financial success 

£ l(S, 1 5 ri ; total, £.71,150. Capita! powers and otlvi available ,,,,. lh ,„ raihvaVi .,,„] ht , h() p ( ;.] ,;,,,, during t he next half-year 

assets, £.375,874. something might be done with the land the\ had there, \nother 



Rkvkm 

'I hi n venue account for the half-vear ending Deremb 



os.d which they had seen re- 
mind to in the pres — the removal of (dialing Cross station, 



the receipts to liavi been as follows :- making a line approach 10 a new bridge to be constructed 

1 '■ """' acro-s 'the Thames, and providing them with ttnother tet ninal 

Proportion oi ne1 revenue ol South station on the south side 0! the river. \s to this, it would he 

; " , m > ' ""'' Railway impossible to oppose a scheme which would be a great 

lompanics Uanag.n, ' omimttcc i4 o .8,6 . . , ;o , „, I 'would h-autih the city. But if the B 

? ent8 °J r° V ■' " >'o " J!,', tame ,„!,;,-,. Parliament the' directors would se, that the 

J ''"' interests of the shareholders were protected. Some of the leases 

total receipts <-t^l s i -■ <l"t--; of their Craven Street property were falling in. Cndet \ 

n-n cxp , ,,1'itui on revi im aconmt fot the same period w;ts ol Parliament, the London Count\ Council had the right to 
,. f t ,Ui>\v-. : ake ovei their Strand Irontagi whenever a change ol 

Salaries and of'lici expetis, .. £4.145 .. ,4.110 1 urred, and upon this matter they were in correspondence 

Directors 1.750 .. 1.750 with tV L.C.C.. hul had not yet heard vvhethei tin option 

ec:- io . 50 would he 1 xi n ised. 

Law charges '. "' In reph to shareholders, the CllAIKMAN said that a pro- 

posi d - In me I. ; the ah dition ol various terminal st itioti? was 

Total ex] litim .. .. l5.')' >0 ■• &••>.& impracticable, becaus, ol tin capital cost. I'bey wen 

aid Ihi propos.d appropriation oi i n g tin' insult of the electrification of the Brighton railw;.' with 

eaviilibl. lordi\idi ,e summarised as follow s : great interest, hut, so far, tin company's policy 1 

'77" ■• t4-7"» suburban trallic did not seem to pay so well .as their own polio 

l-'o-; I5 S --=' S 5 of encouraging thai lot longer distances. \s ti I in Kent, 

1 ■•' ■• J ' '- it had been .along time developing. Hi did not doubt it was 

I l"4 i ;,, t there. Ii was the policy ol the hoard to turn tin lim into a 

mineral lim 'I opporumiu an.si ; and they had 1 to. gh span 

'''' land mar London to make a lafg. di pi I lot 

!,'„! tin coal. 

|l, e accounts foi ihe half-vc; 1 ended D' - 

. 1 . , o ,49 wen published on Saturday last O111 usual an; lysis is 

n. in.,,. i; ,|,.,l 

i IT Al 

SOUTH EASTERN AND CHATHAM RAILWAY. ' ', , , .,, 







1 


. 


. /41.8 






i 






1 >i\ al. -ml . .11 pn a 






1 1 


1 



1 ndn ided ordinal 1 stoi I. - < s- 

[>n fi rn d or. at to. I . . \.i< 



i and London. I hat 

:■ 1 Id 1 -tenia 

\k III ■ 1 ■, i O Bu In South-Eastern j,; . , , , (] ,„ 

1 1 sided, said thai the v, a on ..so , , t||i r or(linan t( „ ■ 

"en ti I 'referent , I 1 1 0.S5 

I ., hi nturi to. I . - s. 1.1.4, 441 

; rhen 134.5 s ' 

.■...,. ■., a. I act ount 



January 28, 191 1.] 



'I II! K \li.W ^ TIMES. 






Estimated further expenditure In th< 
/c2,ooo , in subsequi nt half-yi 
Capital 

[lie capital expenditure foi the past half-year amounted to 
£34,862 vii M Committee, 

opi n for tral Revi 

The revenue ai i "11111 for the hali ; 
Bbows the receipts t" have been as follows: 
Proportion "i balance "i the Manag 1 1 

ing Committ 
Proportion ol Eastbourne trathi 18,015 

.mil hotel accounts, etc. 
transfer fees 

Total receipts 
1 the same p< riod the 1 n pi nditure oi 
■ follow s 

Auditors' remuneration .. .. 100 .. 100 

Salarii s oflv e, etc. 1 \[" nsi s . . 2.9°5 

harges -' N 

Rent account, repairs, ct( . . - 1 - •■-■ ■ -■>'■ 



1910. 



. \|>. nditure ... ■ 1 ; 

The r.< t revenue and ■•'■ how n 

heroin 

Balance from last hall r 

SCet earnings . . ■ . ■ - ^ r • 

Sundry credits S8.160 

Total 

. hargi s 

lividends 
■ul mi undivided ord. stock 
nd on preferred on 
-.I on deferred ord. stcx k 

LI 












21 | 1.., 












. 






































SOUTH EASTERN AND CHATHAM RAILWAY COMPANIES 
MANAGING COMMITTEE. 
Rev: 

Dcci ici 31 . 
Ins c been as !< >11< >s\ : 

1910. 

nd-class . . 
I hird-class 

Mails 

ndisc 

. . 
Minerals 

• 

Mail - 

workn 

... 
hereui 






































■ 











! expenditure 

into 1 
I al fund 

'ii pui. hase money "i land 

Railway 1 apital 

l» I'.ii- 
- I ' 
L.C. and D.R. < ... ii"„ 





















i<ii the past hall 
;es an ini r< 

■ eipts .hi 

is 57.99 per 1 

nding hall ol last year. 



Hall year ended 1 
1 

md class . . 
1 bird i lass 


r 




1910. 


al .. 
1 ni - owned 
1 'artly owned 
Leased or rented 
Foreign lines 

1 otal operated . . 
1 rain 1 


i.j..| 
1 1, 


• 
• 
• 



["otal 









.. 

rhe report states : 1 1 in the 

■, del ived fi utside 

■ 

... is ; |>. 1 

the first year ol the worl 

1. units to -i 
. i..)i. and . 

ount about 

Exhibition. 1 . 

\\ nk- 

1 

1 
M 















"- 



[The -lit 



THE RAILWAY TIMES. 



[January 28, 191 1. 



DIVIDEND ANNOUNCEMENTS. 






that on which the 



tt ade.] 



on ili'' preferred converted ordinary, 1 ', i» r cent, on the de- 
fern I. b per cent, on the B stock, and 1, per cent, on the A 
stock, and ,£."67,149 was carried forward, after setting aside 
^20,000 to social renewals. 



Con.M'O Railway. At t.i>. 5I1I. per sham t. r the six months 

ended I >i cembi 1 ,1. ■ 

Mid-Keni Railway i Hkomi i-.v ro St. Maw Cray}.— At the 
rate ol 4 per ceni. pi r annum. 

London Elf.i rKn Railw.u (Januan 20). At the rate ol \ 
pei .-in per annum on the ordinary stock. 

North Eas>tkrx Railway (Januan 27). At the rati ol 7 
(againsl 7. pei cent. [icr annum, carrying forward ^.-103,970 
(againsl £ • ■' ■■ 5< " ' 1 ■ 

Strati-oru-ipon-Avon i\n Midla.ni> Junction Rum w 
(Januan _• I vl the rate "I -• ', per cent, per annum (againsl 2 . 
carrying forward ^Tbob. 

Lancashiri vnu Yorkshire Railway (Januan 23). A I 
iln rati ol j pei cent, per annum, carrying forward ab >ut 
£ 19,000. \ yeai ago Ihe dividend was at the rate "I 4l per 
cent, per annum, with ^38,693 carried forward. 

North St.utokdmiiri Rmlwai (Januarj 27). \i the rate 

of 5 per cent, per annum, carrying forward ^7io,682. For the 

corresponding period ol 1909, the distribution was .it the rate 

per cen pei annum, with £'10,546 carried forward. 

1,1,1 m Northern Railway 01 Ireland (Januan 24). At the 

rate ol I '. per cent, per annum, carrying forward about £'51 ,000. 

For the corresponding | "I "I lasl year the dividend was .it 

the rate ol 6 per cent, per annum, and £51,100 was earned 
forward. 

Liverioo; Overhead Railw.u (Januan 24). At tin rati 
oi ; per cent, per annum on the preference shares and \\ per 
cent, per annum on the ordinar) shares, carrying forward 
£4,246. A vear ago the distribution on the preference shares 
was al tin same rate with nothing for the ordinan shares, ind 
£4,614 was carried forward. 

Tafi Vali Railway (Janu.tr) 27).— Al the rate ol 4 per cent. 
per annum (equivalent to 10 per cent, per annum on thi old 
stock), carrying £27,867 forward to m -\t half-year. For the 
corresponding "half "I 1909 the dividend was at the rate ol 
4 per cent, per annum, with £29,356 carried Forward. 

London, I?rk:htox v\i> Soitii Coasi Railway (Januan 
. , \ ; ,1,, ,-ati ol 7 ! per cent, per annum on the undivided 
ordinan stock, againsl ;| lor the corresponding hall "I the 
previous Year, the preferred ordinal") stock 3 per cent, for the 
half-year,' and the deferred ordinan stock receives 4; I"''" cent. 
f or t "h, whole vear (as compared with 4 per cent, for the pre- 
vious vear). The balance carried forward is aboul X'. s --"<" 
(againsl £^6,S6i (. 

(iRf vi ('1 mk'.i R vii v\ w 1 I inuan 27). Full dividi nd foi 
,1,, „h ,|, x. ar mi Ihe 4 I" ' " '" I""' '' " "' ' sUK ' k tl<,u " '" :md 
including tin iSStj slock, and 2 per cent, lor the whole year on 

the 4 per cent, preference slock, 1S91, placing £.10, to 

Steamship Insuranci account, and carrying forward aboul 
£8,500. \ yeai ago 1 percent, was paid on the former stock 

Metropoi.tian Districi Railwu (Januan 26). Al the 

full ran on th. 4 I '>;. guaranteed stock, and at thi rati 

ol 5 J per cent, per annum on thi ,\ per cent, hrsl prefi n 110 . 
with £m,o '-' transferred to renewals iccount, carrying forward 

£2,020 \ yeai ago tin dividend was al the s; n 1 Ihe 

4 percent guaranteed stock, nothing on lirst [reference, and 

/,', ,, was placed to renewals .i.e.. tint. 

London ,ni> S01 111 Western Rah w.h (J mu in 27). \\ tin 
rate of 8! | n c. ill. per annum on the original ordmar) st< 1 k, 
„ IU ] lt th 1 ,1, o| , pei 1 . nt. pei annum ..n tin preferred con- 
\, ried ...din a- sti 1 I . and 2J per nt. lor the year on tin de- 
fied ordinan stock. £20. has been placed U. 

r, si rv, a d £15 o to steamboat renewals. The dividends oil 

the original stock and on the deferred converted ordinan stock 
, ompare will 8 pi 1 1 enl. and 1 ] pei cent, respei tivi |\ for the 

peri uU ol I In balance ol in 1 r« vi nue 

, arrii d foi ■•• ird is £35.142, 1- against I ^2,85 • al this time 
1 . . 1 yi 11 

i.i.im N'orihirn Raiiww (Januan 27). \t Ihe rate ol 5! 
p,-i ci til. i" > annum i»n tin 01 iginal 1 apital ol lb. 1 ompaii) . 

fo: tin half- eai : ] t. to ill. pre fen d converted 

p"i t. ". tli, deferred vi rted ordinal") 

-i,,rk 3 pi 1 n ill. lo the II slock, and >.; p. 1 ceni to the A 
1 h, ,, rates will make ihe dividend for ihe whole yeai 

- foil iv 1. per cent, lo the prel'i rred . mi I ordinar) 

. , 1 . tin d (erred 1 onvi rti d ordinan stock, 

I,, tin i: stoi k, an 1 2 ; pet 1 • an. in ihe \ slock. 

. uiny asidi £20,00 1 spi . ial wals and £15.000 

Fund, the li.dani . , an 1 ,1 1. 11 ward is £85,165. 
. .,.,, ilislrihutii'i! was al tin ran ol 4 pel d nt 



reat Northern and Citj Rail 

es that the total revenue ri 

lunted 

•' at the rat 



ay. 

total revenue receipts 
jg,o66, and the workin 
•ol 51.09 per cent. I h 



le half-yearl) report 
or the past half-) 1 at 
expenses to £19. 95**. 
net rev enue amounted 



i-ided fr 

llee, tie 
Si n til i 



. which is insufficient to meet the company's fixed 
the half-year. The sum oi £3,903, which has bei n 

mi outside sources, has enabled tin- company duly 

•se charges. The number ol passengers, including 
t-holders, carried .luring the half-yeai was 5,856,829, 

52,556 in the corresponding period last vear. 



RAILWAY NOTES. 



A Director's Criticism oi Public Departments. — Mr. William 
'A hit. law. Chairman of the Highland Railwa; Company, 
addressing employees of thi Great North ol Scotland Railway 
Compart} at their annual reunion in Aberdeen on Januarj 20, 
referred to the difficulties ol railwa) directors. The publk wen 
never satisfied, .ui.l the Hoard oi Trade sometimes made de- 
mands which those who were concerned in the management of 
th. ' lihva) knew were superfluous. Ol all the masters the) 
had to serve the shareholders were the least inclined to -grumble. 
II, was looking forward with hope and expectation to the 
da\ when railwaj shareholders would insist upon receiving 
iairplav from public departments. 

Kent Coal and the Railwaj Companies — Meetings of various 
classes ol shareholders ol the East Kent Collier) Company wen 
h.-kl al Dover lasl Monday, when a resolution increasing the 

capital ol the company to £500,000 !>v the creation of 1 1, 

new ordinary shares "of 5s. each was approved. Mr. Arthur 
Burr, presiding at the meeting of holders ol ordinar) shares, 
described the position and prospects of the company at great 
length. In reference 10 the railway companies serving thi 
district, he said that the newspapers had pointed out that Kent 
coal was going to do wonderful tilings foi- those companies. 
Hut ii did not seem to be known that this compan) was already 
paying large sums to the South Eastern and Chatham Railway 
Companies. During the past vear the sum so paid was about 

£ 15,000, and in the coming year ii would probably be £25, 

Ihe ^.15,000 was sioiph for bringing material to the mines, 
as n.ii a ton of coal had been carried from the mines. Before 
the railwa) companies could earn money from the coal traffic, 
thev would lose monev on coal traffic, because if this company 
supplied all Dim Kent with coal, as ii certainly would do, the 
railwav companies would not be able to bring coal into Easl 
Kent, so that the) would lose some traffic before the) began 

to leap their lew .11(1. 



Workmanship and Materials of 
the Highest Quality. 



PBCKEW| cotf0 TlVBS 

M**^^ Riiilt to anv 



Built to any 
Specification or Gauge. 



PECKETT & SONS, 
ATLAS LOCOMOTIVE WORKS, BRISTOL. 



MIDLAND 



RAILWAY CARRIAGE & WAGON CO., LTD., 
Builders of 

RAILWAY CARRIAGES, 
RAILWAY WAGONS, 

TRAMWAY CARS. 
and every description of Rolling Stook 

MIDLAND WORKS, BIRMINGH 

and Abbey Works, Shrewsbury. 



wok. 
AM 



January 28, 1911.] 



THE RAILWAY l IMI 5, 



93 



RAILWAY STOCK AND SHARE LIST. 



HOMI RAILWAY ORDINARY STOCKS. 



Num. 



i V Ago. 

Barry, Ord. 156 160 

r, Coin. Ord. i4%) 89 91 

Da 1'. (■ < OUT. ord 68 71 

Caledonian. « n-.i 85 86 

Do. Pref. Conv. Ord. (8%) 63 63>J 

Do, Dat. I >rd 22 7 e 23'e 

■ t,i., No, 1 58 7s 

Cambrian, Ord. Capital, No. 1 2 3 

Old 2 3 

Cardiff, Prof. Ord., ltWS l4%) 94 96 

Oantru London, Ord 65 67 

i 85 87 

L>n. 1M 47 49 

Ord... 32 33 

East London, < nt, 3 3I4 

" ' 51 53 

Glasgow and S. We. tern I'ref. Ord. 58 60 

Do. 1'. (. Ord. 51 32 

Great Central, 1-rt-f. Ord. (6%) ... 2OS4 21 U 

• Ord 10?8 ll's 

Or. 11 Ki-l.Tii. Ord. oO's 61 

Greet N. of Scotland, l'f. Cnv. Or. 60 62 

Coot, Ord 15 17 

Great Northern, fret. Conv. Ord.l 93 94 

Conv. Ord 42I2 435, 

40 40 '2 

139 142 

Great Northern < Ireland), Ord. ... — — 

Gnat North t Or. (4 5j 'a 
oe. Booth. A Wast. (Ireland 

Great \V, ■ 120 3 4 121 U 

Highland, Ord. Cons. Capital 34 37 

Hull and Bai ... 54 54's 

■. If. Coot, Ord. 1% 82 84 

42 44 

1. Ord. . 91 92 



- 






Ual Week. 


\. It) r.lay. 


152 


155 


152 


155 


85 


87 


85 


87 


67 


70 


67 


70 


88 '2 


89>2 


88>2 


8912 


64 U 


64 s 4 


6412 


64 1 


25'4 


25'2 


85*8 


25 


'e 


1>8 


'8 


l'H 


2J4 


3U 


■ 


314 


2 3 4 


3'4 


2 3 4 


3l ( 


82 


85 


84 


87 


64 


66 


65 


67 


85 


87 


65 


67 


46 


48 


46 


48 


28 '2 


29'2 


28 


29 


33, 


4 


334 


4 


51 


53 


51 


53 


57 


59 


57 


59 


36 


37 


3612 


37 '2 


23'2 


24 


23'2 


24 


1258 


12?8 


12?8 


13'a 


69'2 


70 


S6h 


67U 


60 


62 


61 


63 


16 


18 


16 


18 


96 


97 


951? 


9612 


51 


51 14 


501s 


5038 


48'2 


49 


47'2 


48 


142 


145 


142 


145 


123 


125 


123 


125 


104 


106 


104 


106 


126 '2 


127 


126 


126>2 



N»nr. 



. 1'nicss. 



70'2 69^4 70U 



9212 9312 95 



U Ago. 

Lond. Brighton \ S. Coast, Ord.... 108 110 

Do. I'nl. (11%) 132 134 

Do. Dei 85*4 86 '« 

Do. C ''■ore 6% 6'2 712 

Lond. Chat, i l'ov. r, Arblt. Ord. 10' 

1 and North Western, Com. 1S2 ! 4 133 : 4 

•l. W.»lern,Cons. 135 137 

Do. 4 I I.ConT. Ord 94 95 

Do. Del 413» 42U 

■ J, Corn. 115 117 

Ord 2 3 

38'4 38^4 

Do. Borploi Land Block ■ 66 68 

18U 

Midland, l'r.f. Conv. Ord. <3J%) 623 4 63'4 

Do. Del. Conv. Ord 53 58'a 

North British, Ord. Pref. (8%) ... 66'2 67 

1 1. 28'2 28J4 

Pref. Or. 91 93 

Do. Del. Ord. 19 20 

North Eaatern, " Consols " I3C4 131 U 

North London, Cone 103 105 

North Staflordahire, Cong. Ord. ... 84 86 

Plymouth Devon ft S.W. Jnn.,0r. 4z 47 

Jbot Hallway and Docks ... 1 1 i 4 12U 

Ethonddi 12 3 4 13U 

ord. Cap, Btook 205 210 

Do. Prof, Ord. (4%) 98 100 

1 Del Ord 105 108 

3^2 

Booth Eastern, Ord 

Do. Pref. (6%) 110 112 

Do. Del I 2912 29 3 4 

Stratford & Mid. June C 

Tall Yale, Ord 

, uuorgall, Ord 



114 


lie 


132 


134 


98 


98>2 


8>2 


9'l 


1 • 


14't 


'.5814 


1385 4 


141 


143 


9412 


95>2 


4712 


48 


127 


129 


2'2 


3ia 


42 


42>l 


64 


66 


2712 


28 


63'< 


63 i, 


65 


65'j 


66>< 


66 >t 


33 


33U 


86 


88 


20 


23 


131 U 


13lJ« 


105 


107 



^.-t. r.l.r 

114 116 

135 

«8' : 

8i| 

14^2 

139 



141 
95 
46=4 

127 

2i2 
41 
63 
26*4 
6312 
6512 
68 J 4 
33U 
86 
20 



135 

99>4 
912 

14J 4 
13912 
143 

96 

4714 
129 
3'2 

41 1 2 

65 

27 14 



14>2 
12i2 
201 



14>2 
121j 

203 



208 

98 
115 
33. 

83 
124 

413 4 

49 



Debenture Stocks, 



Alexandra Docks and Railway.. 

Barry .... 

Brecon and Mcrthyr A 



Do. 
Do. 



Cardiff 

Central London 

City and South London Perpetual 
East London '2nd Charge A 

I',,. • 

Do. 3rd Charge 

Do. 4th Charge 

Do. E.L.H. Kt I'-Untures 

Do. Whitechapel Extension ... 
Forth Bridge 

Glasgow and South Western 

Great Central 



Great Eastern 

Great North of Scotland... 

Great Northern 

Great Northern (Ireland) 

Great Western 



Debenture Stock*) ''continued) 

North Eastern 3 82>2 83'2 

North London 44 119 121 

North Staffordshire ;) 80 82 

.<■ I 96 98 

Port Talbot Railway and Docks ... 4 105 107 

Rhomlda and Swansea Hay 4 104 106 

Rhymney Perpetual 4 103 105 

Permanent 4 92 94 

Booth Eastern Perpetual 4 105 107 

Do 5 131 133 

Do 3$ 90 92 

Do 3 80 82 

Tall Vale 3 79 81 

Tottenham and Forest Gate 4 101 103 

aroorgan .1 77 79 

Whitechapcl and Bow 4 103 105 



Preference Stocki 

(continued ). 



Great West .... 136 

Highland I 106 

Do. 11 B% . .... 115 



Do. 4S 



yx 



Preference Stocks. 



Do. 



89 
108 
105 

82>4 

106 

110 
114 
122 
136 



Highland 4 

Do 41 

Hu 



109 
131 
119 

91 
110 
107 

83 U 
109 
112 
116 
124 
138 

70 



2nd 





lire and Yorkshire 

.nd Biackwall ■ 

London and Ore* 

London Brighton & South Coast... 



Do. 



London Chat, and Dover Arb 4$ 



Do. 
Do. 



1883 
1999 



105 


107 


102 


104 


82U 


8312 


109 


111 


100 


102 


107 


109 


120 


122 


115 


117 


111 


113 


98 


100 


98 


100 



London and 
London and South n 
Do. Consolidated 

. 1 bury and Southend . 
Metropolitan 



1).,. 



Metropolitan District 

Do 

Do. Perpetual (1903-5) 

Do. r>n,, r l. L , q 
Midland 
Midland ,v S.W. J . 

Do. B. 



6 146 148 






Do. A3 



North British... 
N. Cor!-. 



Alex. Docks, and Rail. 4J 1st Pref. A 
Do. 4.V\, 2nd Pre*. II. ' 





Do. i% 1 bin 1 

Caledonian 4" c, ins. No. 1 

Do. 4% I 

Do. 6% 1878 

Do. 4% 1-.-! 

Do. 4% 1881 1 

Do. e% 1909 

Do. 

Cambrian No. 1,1 

City and South , lsyl ... 

Do. 5% 1- '', 

Do. 6% 1901 

Do. 6% 1903 

Do. I 

Do. 1 
Do. 1 

Glasgow and Sou: 
Do. 1 
Do. 4 
Do, 1 

Great Central 5% Perp. I 
Do. 1 
Do. ;, 
Do. 6% Conv. Pref. 1874 

Do. 5% Conv. Pref. 1-. 
Do. 6% Conv, it, f. 188) 
Do. 4 
Do. I 
Do. :, 
Great Ea 

Do. 84% 1893 
Do. 8 



125 

103 
102 
105 
104 
131 
103 
103 
103 
103 
103 
19 
1C6 
106 
100 



127 

105 
104 
107 
106 
133 
105 
105 
105 
105 
105 
20 
108 
108 
103 
102 



105 


107 


103 


105 


102 


104 


102 


104 



1 

Do. 8i 76 

Hull and 1 ... 91 

D 1 ■ . , paid) 101 

Isle ofWighl 95 

8U2 
Do. 4% Pref. 1908 .... 105 

l'r.f. 1908 105 

London Brighton, etc., 1 ... 131 

130 
88 



London, Chatham. 

Do. 44 

I 

' 
1909 
'. 
Do. 






I 1 

10a 

108 
rp. Pref. 1884 

93 



123 

96 

ne 

1 15 

1!4 

1 1 

1 16 



125 
98 
11 I 
11 7 
116 
112 
108 



ref. 1C5 

1 , Pre f. 1904 .... 102 

2>S 
Metropolita . ... 89 

Do. 8 86 

1 ... 85 

. 

Do. Assent. Eit< .... 72 

Midland '24"„ i'eq.. l'r.f 68'2 

Neath ami .... 63 

North iir ■ ... 105 

Do, 1865 I ' ... 128 

... 127 

Do. 4 11/ 

Do. i j% Conv. Pref . 1875 Iir 

D. . 1 

... 103 
... 103 
... 103 

103 
.... 103 

103 

' 



138 
108 
118 

94 

78 

78 

93 
103 

97 

8212 
107 
107 
133 
132 

89 

63 

86 
112 
110 
110 
108 

95 
107 
104 
3l 2 



S6 

.4 

691s 

65 
107 
II ■ 
13 
129 
11 I 
119 
129 
105 
105 
105 
105 
105 
1 C 5 
105 
1 5 

1 
























94 



THE RAILWAY TIMES. 



[January 28, 1911. J 



RAILWAY STOCK AND SHARE LIST. 



Colonial Railways. 



Foreign Railways. 



Closing Prices. 



Name. 



Closing Peices. 



Alberta P.y. * Irrigation, Cap.Stk. 

Atlantic* N.W. ■'•"o l'"«r. 1st Mt. 

Beira, 4*'o Mt. Deb. Bds. 

Do. 6% Income Deb. BtK 

Bufls!., it Lake Huron, Ord 

Clary. & Edmntli., 4% Cons. Deb-. 
Canada Atlantic 4",, Cn-.v lit. Mt. 
Canadian N. Ontario. Hi",, Mt. D w 
Canadian N. Quebec, 4"„ Pern. Bbs. 
Canadian Nor., 4%, 1st Mt. Debs... 
Canadian 1'aeiticSI, ares 

Do. 4%Non-Cum. IT. f 
Central Ontai i, 5' 1st Mori 
Dawson dr. 1 ■ k AS'. .artKiver6 
Demerara, " ■'- . — * 

Do. 7% P. rp. I'"'- >tk 

Do. 4% Extension Pref 

Dominion Atlantic, Old. Stk 

Do. 6% Non-Cum. Pref. Stk. ... 

Emu Bay 4 Mount Bisehofl 

Grand Trunk Pac.l'rai.,1, 4", W-. 
Grand Trunk Pacific, 1st ..It. Bds. 
Grand Trunk of Canada, ( ons. stk. 

Do. Guar. 4"„ Stk. . 

Do. 5°o 1st ''ref. stk. Neil-tun. 

Do. 6% 2nd do do. 

Do. 4% 3rd do do. 

Klrksdp.-Frtn. Stri ams, 5% 1st Mt. 
Manitoba S.W. CI.;, 1 ', 1-t Mt. Db. 
Maslionaland l-l Meet. 5"., D' "-• - 
" Debs. 



102 

185'< 
103 

10b 



ioa 

1853a 
104 

107 



100 102 
21318 214 
104 105 



Yesterday. 

145 150 

94 96 

114 116 

98'2 10012 

8512 8712 

123, 13'4 

101 10i 

94 96 

91 93 

94 96 

100 102 

21512 216 

104 105 



104 106 105 107 



118 123 113 118 



100'2 
8212 
211b 



ic: 

115 
94 lj 



.Inc, iDb 82 



Mt. Debs 

dial Stk 



Do. 
MldlandofW 
Nakusp * S 
Natal-Znlulu 
New Bruuss 

Ontario A Q' 

Qu'Appellc. Done Pake, A Bsktcwn. 
Quebec A Lake St. .1,. In, ,1st Mt.Bds. 
Quebec Central, Capital Stk 

Do. 4% P.O. stk. II 

Do 8,,,'Jiid Deb. si I, 

Do 7". Iiuune Bonds, lied. 

Rhodesia, 6% 1st. Mt. D, b 

1st Mt. Di bs. 



412 
1011? 

8312 

2138 

93 
104'2 

94 12 

5112 
108 
117 

S612 

97 



1212 
101 



2458 26 



53U 53^4 

106 108 

112 114 

9812 10012 

102 104 



43 4 
101 
8212 

2>.-'; 

93 
108 

97 

56 
108 

114 



5512 
106 
112 

9812 10012 
102 104 



A Year Ago. 

AlcoyAGandia. 4°, Debs. ...... £6 28 

Antufagftsta ,1'liiluABlvia.Pf.Ord. 99 1"! 

Do. Def.Ord 12° \*i 

Do. 6%Cum.Pref 1°= 10 ^ 

Arauro, Ord inl " * a* 

Argentine Gt. Western, Ord {"J ,,1 

' Do. 5% Com. 1',-ef 103 HI 

Argentine N.B., Stock ■■■■ J3J 12 ,< 

Argentine Transanal™, 7% Cm. Pf. 11' l |,* 

Arica A Tacna, Shares • 3 q0 

Bahia-BlancoAN.W.,Guar.Stk.... 88 ao 

Do. 4*".-, Guar. Stk 9| 1°^ 

Bilbao Kiv,..- A Cantabnan, Ord. ... »' 

Bolivar, 5% Pref ■■"■•• - lc 5 ,„ 

1, Brazil Great Southern, 7% Pref. ... , ?, =^ 

Buenos Ayres A Pacific, Ord. Stk.... 8|1 2 891. 

I. Do. 5% 1st Pref. Stk. Cum. 109 1 1 1 

Buenos Ayres Cent.,4*% 1st Mt.Dta. 92 94 

1 BuenosAyreslit.Suutb.-rnOrd.Stk. 1^2 1 

I Do. 4% Extension Shares... '' - 

I Do. 5°,-, Pref- Stock. ' ■ 
linen,.. An,-. Midland .'.",, Piet. 

Buenos Ajres Western, Old. Stk. 125 

Do 5" Pref. 1£M 

Cartagena (Chub '•■• J. 4 .' 2 

Central Argentine Cons. Old. Stk. aa 

Do. Deferred stk 3 -. 

Central Uruguay Eastn. E«n ' c r 

Do. ■•'.. Pref. Shares - ; 

Central Vruguay Northern Estn. ... I 6'2 

,;■,.„.! rut-uayot Montevideo. Or.sk. Bi 

\ Chilian Traii-andn- . .'• ' Debs. . a* 

Columbian National, 6% lsl U t. Dm. g„,^ 



105 
141 
106 

418 
105 
113 
46l2 



103 
142 
104 

103 
111 

45 12 

1112 



126 
126 

12^4 

75 12 
100 



1C8 

9512 
117 

10 7 8 

119 

58 
122 

11^4 

7312 

105 



118 

1118 
120 

5 4 

123 
12U 
7412 
106 
98 
T 
9J4 
71a 



105 
144 
106 
4 
105 
113 
4612 



514 5^4 

92 93 

107 109 

96 97 

1171s 11812 

10?8 Ills 

II8I2 11912 

58 h 

12212 1231? 

113 4 12I4 

75 76 

106 107 



7: 
912 



7'6 

934 

718 



18'' 
100 



100 
8C 

1M 

148 
97 

64 
1912 
102 



I ,. 111, ,1c 
Columbi 



96le 95'2 9612 
80 78 80 

68 , 67 69 



N 



.Fe 



Do. 
Bt.Lwnce. o 

Okngn . , 4 .1 

ita Ky. Bd.-bl 
Tor. Grey e. 
White Pass and Yukon.. 



101 103 

74 76 

103 105 

27 30 

101 103 



114 117 

1C012 10212 

88 £0 

101 103 

71 73 

ICO 102 

26 28 

101 103 

1 915 31? 



82 

79 
102 

55 
103 

79 

91 

54 

83 
1 4^4 

10M 

99 



414 
lOU 
102 



American Railways. 



Egypti, 



ios, Ord. Stock 
.,•',, 1st Pref. Stock 
2nd Pref. Stock . 



100 102 

Sk 834 

4412 45'2 

9512 9612 



Grand Russiai 

G.N. Cent. Ce 

Great West. 

Do. 



.. R: 



. Bds 



Alab. Gt. Southern, Ord. Shares .., 

Do Pref. shares D4 Do 

Alab.N.Orl'.Ts.APae b%"A''Pfd 6U 

t-) •• B Deferred LI 

' '".■"".• Val h 10? 

11, :.",, Nnn-Cuiu. Pref. 10b 10/ 

Atlan.l L.ntalTist. 107 109 

Baltimore & Ohm, Common ... 11512 11612 

I,, 4 , Non-t urn. Pfd. 95 ao 

Cl.es,,,.. ■'■ ' '""" ■■■'" 1^12 86'2 

^5 50 

A St. Paul, Cm. 152 153 

1 ~ i?. 

Cleveland A I ' ••■ 86 SO 

Denv, ' "ouoii ... 43 2 44-2 

43 2 44= 
m.Prefd. 82'2 8312 

to' 2 toll 

,,. |§„ ||ll 

II! \*£ 

101 104 



4412 4512 44 
63 61 

9'8 91< 



10612 107 

1C512 IO6I2 

106 108 

110 111 
92 94 

8514 853 4 
23 25 

46 £0 

13U2 13212 

153 158 
84 88 

3U2 32 
3112 
7212 
72 12 
2914 
4812 



45 
63 
93 4 



106- 1 4 1C714 

10512 10612 

106 108 

10612 10712 



Italian 



7312 
7312 

2934 
49'; 



132 

155 
83 
31i4 
3114 

72 l 2 
72>2 
29U 



133 

ic 
87 



Guayaquil & Quit. , ... 

i„i. .,.,„-. ,jm. xicnAeplcoto^eraCz.) 

, Rlj Bond 

",, 1st Mmt. D, b 
La'Gualra & Caracas 

I.lubrp. 1 

L-npoldiliH Ord. Si... k 

ll!,. r,!" l'lef 

Lima, Shares 

Manila,;,",, Pr-f. 

stk 

1 . 1 . , I ' . , 

II,,. so ! .-.. 1 .' . I'' b-. Ib.l. . 
>ontl,.ni, ord. s 
. \\, 1, :,, :.", 1-t.Mt. Bds. 
,,. Ord. stock 

el,. Bolel- 



Midlan, 



75 1, N - 
75i2 
2S3 a N« 



62 

1" ; 



8912 9Qi2 ! 92 



lUt 11-. 10 
l's 2lB 3 
3 314 31s 
3434 3514 1 49 
132 133 139 
7? la 92 ! 2 

102 
10412 
86k 
I6I2 
101 
102 
12'4 



104 

101 
813< 



106 
105 

8234 

17 
103 
103 



67 

III3 

314 

338 

4912 

140 
9312 

104 

10512 
87'2 
1712 

103 

104 
15 



63 



fc.l; 
22'. 



65 



1112 
1212 



101 
6I2 
23 12 
67 

1H4 
3U 
3iz 

52 U 



141k 1421= 



05 



06 



102 104 
10412 10512 
863 4 873 4 



I6I2 
101 
1 02 

1214 



27 2812 27 



s: 



1511? 152I2 
142 144 



129 13! 
13612 137W 
94 97 



148 
143 















|..,:' 



115 



. 






' 




















66 

, 1 

3712 
114 

4212 
108 

91 
121 

168 

63 
121 
12212 

181 

16 

8OI2 
122 



36U P' 



Philippine, Is 



1514 

141; 

39 
1712 
100 
21'- 

22': 



314 



lfcb_ 



2012 

S lb. 



412 

16k 



2- ; 4 



171j 
103 
104 

13 

2812 
7 
1514 
14'-i 
40 
1712 
100 
21^2 
22 12 
92 
5 

BC 
92 

3U 



1 Id 

109 
94 
123 

172 

HO '2 



9612 
- 17 
37 






14 , 
82.' 2 



15'; 14 



104 

100 



101 

101 
31 



84 

134 

414 

202 
112 

15 = 



10212 10312 10012 10112 



124 y.afra A llmlMi. 




89 

2H 
434 
204 
114 

5'8 

, 1412 

104'2 105'2 
101 

102 



b8 100 

7 8 

10012 10U2 

88 90 

10~ 109 

Ilk 1134 

534 6'4 



Jam \ry 28, i<, 11. 



THE RAILWAY TIM] S. 






OFFICIAL TRAFFIC RETURNS. 



Total I 



Barry. 



1911 1910- 

£12.739 £13.640 
£38.911 

65^4 653| 

■ 336 



Great North of Scotland. 
2.1 191 I. 



Caledonian. 

191 1. 
£25.93 1 
57.614 



ih 



25 »eek» 

! 



« 1910. 
1123,566 

51.B73 

2.257.024 2,176.201 
961 "< 



W 

Total („r .. 



2b 



£3.200 

5.060 
18.260 
■ 
336 



1910. 






lotropolltan 






Cambrian 



Tot»l f 

•■ 

5 



Contral London 



Toi»l for wei 1 



City and South London 




Croat Southorn and Woatorn 

, ""'' " 20 1911. 

... £!!,5I6 

. 

<• 74.563 

1.121 



1911. 
£15.857 
1.372 

£52,103 
78 n 

■ 



a 1910. 
£ 15.3(14 

£50,399 
78-. 












191 1. 


1910. 








£3.51 3 


£2.32 1 























Croat Woatorn. 

22 1911. 

1 1 09.000 

1 38.000 
Total for week 

25.000 
2.9934j 

■ 



Highland 

. 

Total for week 

' 11 25 •■■ 



1910. 

£11,057 

11. 396 

£69.514 
1.121 



Metropolitan Olatrlct. 






1911. 






« 1910. 
£107,000 
131,000 
1238.000 
1709.000 



. thl 



Week 



Midland. 















. thi 



■ 



£63.000 
1678.000 



a 1910. 
£61.000 

161.000 
£2.22,000 
1663,000 



1911. 
£4.403 
3.397 



£273,9 70 
492'j 



ttiaio. 
£4,385 






1 
U 



blin and South Eastern. 

20 191 1 






22 1911. 

£1,855 
7.014 

£26, 

kn 




Midland Croat Western of Ireland. 
M 



■ 1911. 
£3,740 



1910. 

£3,579 

598 



North BrltlBh. 
Week end 



1911. a 1910 

£25.070 £23.833 
S343 



1ft 



£240 



.•k-. t'820 




Lancaahlro and Yorkshlro. 



a 1910. 
£33.573 
68,670 

1298.424 
592 



Glasgow and South Woatorn 

1911. 
£11,700 

Tola: ' 

t'26.500 

Croat Contral. 

191 1. 

£20.300 

61.900 

41.400 
616'? 



'.riK January 
■ ,-k 




"T 22 1911 

£35,250 

71.557 

»eel 1106.307 

. 

-■ : 1 ■ j 

London, Brighton and South Coaat. 

1911. 

£35.910 

16,870 

£52.780 

£161.852 



Pas 






North Eaatorn. 









HI. 






£50.383 

136.399 

■ 
1.734 



. 



1718 In.-. 3 



487 



London 









£3.795 

Electric. 

191!. 
■ ,-.85 
' 95S 



■1 ■. 



k, £635 



. K9.500 
Croat Eaatorn, 






1911. 

49.900 



a 1910. 
£46.200 

£275.100 









Northern. 
21 



London and North Western. 
London and South Woatorn. 



1911. 

£105,000 




North London 

■ 




o 1910. 

£47,022 

122.688 

£169,710 

£481.426 

£14,986 



a 1910. 
£4,055 

£8.196 



North Staffordshire 



Week 

i 

Hhymnoy. 

I 



1911. 
£4.700 












I 
I 





c 















'i 1910. 

69. 10C 
£109.500 



1911. 






Croat Northorn (Iroland). 

i -311. 






543 






1910. 

■ 
■ 



London, Tilbury and Southend 




South Eaatorn and Chatham. 



15U 



a 1910. 






• 



■ 



Taff Valo. 












1 : 









>.;(< 



THE RAILWAY TIMES. 



[JAKUARY 28, I9I I. '. 



OFFICIAL TRAFFIC RETURNS. 



BRITISH AND IRISH RAILWAYS, &c 



FOREIGN AND COLONIAL-tV>«//«««*. 



Mileage. 



Latest Earnings Reported. 



1910. Wk. or Month. 



Belfast & Co. D. 
Brecon. & Mer. 
Cleator & Work. 
Cook. Kes .V 1'. 
CorkB. .V SC... 
Ck. B'rck. &P.„. 

East London 

O.N. and City 



Isle of Man 
Isle of Wight ... 
Isle of W. Cent. 
Liverpool Over. 

c. Canal 

M'port. & Car.... 

Mersey 

Mid. & S.W. Jn. 
Neath & Brecon 

Port Talbot 

Rhon.it S. Hay 
Stratford S U.J. 



Kii 
Hi 
21j 
6J 



:n 
93. 
it; 

BH 

3 

11. i 
Hi 
ay 

6J 



mil 
81 

. 1. 



•I.ui. 2(1 
1.111. 22 
Jan. 22 



£'2,5is 
2,302 

!.■-'■ 12 



1,334 

01,504 
2.11,7 

2,058 
1,393 

1.1; HI 
2,637 

2.H15 



2,1711 

1 ,222 



171 

532 

1,238 

55.3s 1 
2,143 
2,u:14 
1.3118 
1.574 
2.4'.IS 
2,: 33 
700 



Aggregate to date- 



Mileage 



i7,2ss 
6.618 
3,456 
1,724 
1,557 
S47 

17,44(1 
1,807 
1,270 

i,4;,o 

I 7-1 
1.4dS 

555,735 



1,784 
7,819 
7.410 

2,573 



i-il,!ls<l 
6,429 

3.531; 
1,990 



1 393 
1.725 
3,910 

531.(1511 



Latest Earnings Reported. Aggregate to Date 





1911. 


1910. 


Wk.orM'th 


1910-11. 


1909-10. 


4910-11. 


1909-10. 


Sthn. Punjab...e 


425 


425 


Jan. 14 


88,192 


11:1,423 


1.72,932 




Ludha. Ext. « 


155 


155 


.1,111. 11 


17.021 


18,789 


32,984 






210 


21(1 


Jan. 14 


15,120 




37,17(1 




South. Indian. ..c 


1,694.; 


1,694 J 


Dec. 21 


.■.,23,(183 


1, 9(1,(123 


117,01,278 


11133,383 




184 




ii 


23,152 


23,1117 


124,380 




iemiscouata .. b 


113 


113 


November. 


19,701 




97,299 




Un. Rys. Hav. a' 


660 


660 


Jan. 21 


32,946 


39,04(1 . 


530,554 


524,383 


1 rug. North ...a. 


72| 


72| 


Di ci "ii. 1 . 


2,00(1 


1,808 


11,490 


10,914 


W.P. & Yukon b 


147 

112 J 


147 

112J 


-I.ui. 21 
Dec. 21 


4,905 
2,602 


4,(120 
1,725 


145,742 


144,058 


Yucatan 1 nitedfc 


— 


— 


Jan. 21 


46,900 


40,51 III 


138,300 


134.500 




112 




Deci nib. !- 


11,417 


10,308 


139,1511 133,928 



F0REIUN AND COLONIAL RAILWAYS. 



Mileage. 



Lati -r Earnings Reported. 



1911. 1910. Wk. or Month. 191(1-11 1909 10. 



Aggregate to Date. 
191(1-11 1909-10 




liui- 



Beu. & N.W. ...c 
Beng. Dooars...c 
Extensions ...c 
Bengal Nag. ...c 
Bil. Klv.iC....<i 

Bolivar a 

Bomb. B. AlC.I.C 
Braz. Ot. Sn. ...d 
. A. & Pac. ...a 
B. Ay. Cent. ...a 
B.A. En.&S.C.a 
B. Ay. Ot. S. ...a 
B. Ay. West. ..a 

Burma . c 

u. North b 

Can. Pacino 

. Argentine " 

Central Urug.... a 

East Exteu. a 

North Ext. ..." 

West Exten. a 

Chillagoe " 

Cordoba Cent. a 
•Cent. N. Sec. « 
B. Ay. Exten." 
Cord. A 15 " 

Costa Kica d 

Cuban Central a 
Del. Um. iiK. c 

tDemerara b 

West Coast .. b 
Detroit Lntd....i' 
Dum. Atlantic b 
East Indian ... c 
Egypt, I elta a 
Emu Bay □ 

Entre Rios a 

G. Tk. of Canada 
Main Lin. ..a 
Canada Atl. a 
G. T. West ..1 
Det.G.H.SM.a 

Total a 

;Gt. Ind.l'i 11. . c 
O.W. of 1.1:1. . u 
Guay. <S (.'into / 
11.11. Nizam's c 

11yd. r. dud. c 

..liil'.r.i.f M.i. t 

La O. A Car. ..a 
.opoldina .. ..<* 

■Mi.il. & S Mah.r 

Manila 

.ghonaland a 

Mill. 'an k 

co, N rt I 

Mid. ,3 V. 

1 oguay a 

New Cap 
Nitrate.. a 

N.W. of I rug. b 

a 

Peruv.i 

1.. Pel. I, 

1. St. J./, 
Ivohil. 



1 ,8115 


1,807 


30J 


36i„ 


117 


117 . 


2.398 


2,354 


15 


15 


110 


110 


2,419 


2,419 


110 


110 


3.1S4 


2.. Ills 


1B5 


165 



.Inn. 211 
•Ian. 21 
lie,-. 24 

Jan. 21 
Dec. 24 

Jillv 1 — Hie. 
July 1 — Dee. 

Dec. 31 



09 

3,0113 
1,400 
1,340 
3,380 

111,271, 

2,1.13 

271 

277 



1,300 

1,310 
3.180 
in, His 
2, ..2S 
271 
246 



20,000 
36,315 
27,550 
29,380 
5,401 
3,041 
1,00,000 
11,7(10 
3,22,94(1 



7.51,000 

11,117 

6,250 

10,53,000 

14,000 

94,367 

1S.371 

725 

117,050 

57,124 

3.71,904 

21 191,400 

21 1,263,000 

106,580 

18,068 

5,972 

2,114 



1621 162J ran 14 

no: on' 



4,524 1,524 



No 
7 dys. No 
1 ', , , ruber. 
Jan. 21 
in dys. Dec. 1 

I bi r. 

.I.ui. 21 

7 lys. I.,,,. 
7 Ivs. Jan. 

7 dys. Jan. 
7 dys. Jan. 



July 1-,i,t. 

July I— Dec. 

7 dys. Jan 

December 



Decerab. 



12.7511 
3,315 

6,640 
6,675 

14,173 
39,900 
21,1-1 
2,117 
160,51 I 
85,700 

1 8,183 

I, ,51 III 
13.100 

21 125,772 

21 7,255 

21 2., ,(;.:.: 

21 8,386 

21 167,020 

17,81,000 

15,193 

68,000 

31 _ 

31 — 

21 102,600 

6,250 

.: 1,31 1 

S.59.2II0 

19,463 

16,158 

21 171,100 

10,300 

(l.ililn 
1,820 

28,300 



' 



"'■ 



24,0(10 
32,545 
21,150 
20 5911 
1.1(11 
2,417 
-1 i)59 
15,674 
3,os, 1711 



O.XH.OOC 

9,102 

1,018 

10,14,000 

27,500 

M.S1I7 

16,856 

403 

Hi:.,7:.2 
18,087 

3.20,5117 

185,100 

1,377,000 

97,1123 

1 1 ,727 

1,444 

1,504 

1,078 
5.7S2 
1,1,95 
10,730 
2,880 
5,260 
0.794 
13,563 
10,500 
26.060 
2,512 
188,639 
117.151 
10,03,000 
8,159 
5,305 
11,900 

121,005 

0.1117 

21,3.-7 

7,457 

157,156 

111, Id. in 111 

18-243 

70,000 



55,000 


11,19(1 


1,080,788 


960,86! 


84,020 


78,080 


115,5,14 


12 1.51 is 


59,135 


36,196 


25,44,219 


23.77,7311 


17,2111 


51.H27 


110.211.75 2 


110.91,330 


2,56,577 


2.02,437 


1,211,01.1 


3,23,779 


136,08,000 


L2u,4\000 


91.099 


108,596 


31,652 


22,701 


30,35,000 


30,40,000 


121,01111 


24S.OO0 


2,400,394 


2,II9S,II92 


95,11s 


70,447 


22,9 13 


11, ,2.5s 


2.0S5.SS0 


I'.r.ll,, lis 1 


1,332,1,70 


1,2511,072 


73,37,213 


71,25,383 



,327 



K..1 Ii 



105,105 1- 

411,775 ;i7 

132,520 75,595 

1S7.I55 11,1,0411 

170,901 Kin, His 
182,109 1 179,027 

78,900 90,700 
I 

9,946 1 

775,7011 821,289 

55, is. 000 I9,S5,000 

184,023 177,101 

32,02(1 — 

213,500 202,757 



1(111,35(1 

2,25(1 

23.31S 

S.21.2SII 

11,874 

10,675 

112,70(1 

122,870 

9,1151 

7,881 

1,232 

2,221 

2 l,:,s I 

21,191 

4,227 

SSI ,11 12 

190,(1911 

2,000 



1157,970 
211,921 
74,229 
23,51 1 
170.012 

11,13, 

12,3110 

211.10,793 
1430,291 
1,731,1 191 ' 

74,000 
71,135 

! 57,55,097 
133,738 



2,(121,7(12 
37,031 

35,sn7 

21,11.1.; 
15s, 110 
18,131 




; i;;,i in 

18,772, 
03,910 

21,s.l2 



Alabama Ot. Southern So' 

July 1 to Nov. 30 
Atch.Top. A Santa Ce.. No 

July 1 tc Nov. 30 
Baltimore and Onto.. No 

July 1 to Nov. 30 

oian Northern . , 

July 1 to Nov. 30 
Canadian Pacitic .... 

July 1 to Nov. 3 
Chesapeake and Ohio 

July 1 to Nov. 1 
Chicago Great West. . 

July 1 to Nov 30 
Denver <£ Rio ijraude 

July 1 ti 
Oram! Trunk of Canad 
Mam Line 

July 1 to 
. a Atlantic . . 

July 1 to Nov. 30 
Grand Trunk VV". strn 

July 1 to Nov. in 
DetroltOr.Hv.iS. Mil 

July 1 to Nov. 30 

Total for System . 



21,0:1,11' 

14,34,101. 

1,551,11110 

0,1,5(10 



;70 Louisville A: Nashville 



Minn. St. P ,t S.S.M 

July 1 to No\ 
-Miss. Kau. A Texas 

July 1 to Nov. 
National of Mexico 

July 1 to No\ 30 
New York Out. A. West. 

July 1 tn Soi 
Phil, and Heading 

July 1 to Nov 
Coal and Iron Co, 

July 1 to Nov. 
Total both Comps. 

July I tn Nov. 31 

Pitts. Cm Ch.AiSt. I. 

Jan. 1 to Nov, 111 

it. Jo - and Gr. Isl. . 

July 1 to Oct. 
^t. Louis A San, Fran. 

July 1 to No 
southern Railway 

July 1 to -N.i 
Onion Pacific . . . 

July 1 to N. 

W'll.isll 

mlv 1 ' 



1 drachmas , in Mexican dollars 

ding Mexican Southern receipts. 



February 4, rgiij THE KMI.W \Y TIM] S. 



LONDON & SOUTH WESTERN RAILWAY 

SOUTHAMPTON DOCKS (WKl'MSS,). 

POSITION AND FACILITIES UNRIVALLED. DOUBLE TIDES. HIGH WATER 4 TIMES EVERY DAY. 

Neva lea 11 1 , wa \ a _ 

LARGE OCEAN LINERS DOCK ANY IIOI'R. DAY OR NIGHT. 

Pasicnjcr and Mall Tralni to alonjildc Steamers. No Tender rcauirot. Docki lully equipped with Hydraulic and Electric Appliance*. 

" Trafalgar " and "Prince of Wales" Dry Docks, 875 feet and 750 feet long respectively. 

WAR INDED AND FREE, I '. 1. IN 

COMPLETE EQUIPMENT OF GRAIN ELEVATING & CONVEYING MACHINERY. 

SPACIOUS SHEDS FOR WOOD GOODS I Mil K COVER. 

I tons of Coal in 1 i 



STEAMSHIP SERVICES 
PARIS, via SOUTHAMPTON & HAVRE. Dally cacti way Sundays excepted . 

The f.i PARIS. ROUEN, ETRETAT HONFLEUR. CAEN TROUV.ILEDEAUVILLE. SWITZERLAND, SOUTH OF FHANCE, 4c 

p.m. Train lea- 
rner leaves Havre 12 Midnight, lasl ... due London al 

SOUTHAMPTON AND ST. MALO. Passenaers and Merchandise. 

SOUTHAMPTON : ST. MALO | ST. MALO I , SOUTHAMPTON s and Fridays. 

SOUTHAMPTON AND CHERBOURG. Passengers and Merchandise. 

SOUTHAMPTON • CHERBOURG ... 1 hursday, and Saturday I CHERBOURG SOUTHAMPTON ! Friday 

at ia.j midnight. (Last train from Waterloo, 9.50 p.m.) ni^ht, at 11.0 p.m. 

KniiTujMoTnw 1 ?s and Fridays in each din 

SUUIHAMHIUN I From SOUTHAMPTON midnight. Last train from Waterloo 0.50 p.m. 

«"> the To SOUTHAMPTON -Steamer leaves lERSEi NSEY, 10 a.m. (about). 

CHANNEL. ISLANDS JERSEY t > ST. MALO, .1 in 11 ■_ 

CHANNEL. ISLANDS. I JERSEY : , GRANVILLE. . Once weekly each way. 

There\tre also services between SOUTHAMPTON in 1 HONFLEUR, with Cargo only. 
The fullest information on all points connected with the business of the Docks an I ■ obtained on application to the Docks and 

Marine Manager, Mr. I. M. Williams, Southampton; for Passenger I rathe, from Mr. H. Holmes, Superintendent of the Line; and Goods li 
Malbv, Goods Manager, Waterloo Station, 

(334) CHAS. J.OWENS. , ral M 



BROWN BAYLEY'S STEEL WORKS, Ltd. 



SHEFFIELD. 



Manufacturers of Steel by the "SIEMENS" & "BESSEMER" Processes, 

Makers of TYRES, AXLES, and SPRINGS, for 

RAILWAY LOCOMOTIVES, CARRIACES, and WACONS, and also for ELECTRIC CARS. 

SPECIAL GUARANTEED SPRING STEEL. 

SPECIAL STEEL BLOOMS, BILLETS & SLABS. 



London Office— Suffolk House, 5, Laurence Pountney Hill, Cannon Street, E.C. 



THOMAS TURTON&SONS^y^ W^ 

Sheaf Works, SHEFFIELP-^.^.grtj ^^ 

London: ^^0^^^S^^f^^^ Spring Steel, 

9G, CANNON STREET. ^^M «KWjS ^ Cast Steel Forcings, 

CITY *^0^f\W\^&^^^ Picks, Hammers, Tools, 

^^^^ r^gjS**^ CAST STEEL FILES. 
|48 ^RAILWAY SPRINGS & BUFFERS. 



THE RAILWAY TIMES. 



[February 4, 1911. 



TUDOR 

ACCUMULATORS 



WITH 



AUTOMATIC 

REVERSIBLE 

BOOSTERS. 



Many large Plants at work in Electric Railway, 
Tramway and Power Stations. 

Complete Battery and Booster Plants 

Designed to suit Special Conditions. 



TUDOR ACCUMULATOR CO., LTD., 

119, Victoria St., LONDON, S.W. 

Works: DUKINFIELD, near MANCHESTER 




Of interest to a I who follow 
the workings of our Railways. 



GREAT 
RAILWAY 



SUBSCRIPTION HATES: 
2s. per annum, post free, 
Art Paper Edition, 33. do 




CENTRAL 
JOURNAL. 

PUBLISHED MONTHLY. 
FULLY ILLUSTRATED. 



ADDRESS — 

THE EDITOR. Central Station, lelcester. 



Davis Borrow & Sons 



BRUSH MANUFACTURERS, 



IPDS. 




Contractors to the Railway Companies. 



A Convincing Reason 

why the typewriter purchaser should select the 



It 



REMINGTON 



» 



has always been furnished by "the unique Remington 
strength and reliability. 

Eighteen additional reasons are furnished by 
the eighteen original improvements found in the 
latest Remington Models (Nos. 10 and 11.) 
Let us send you descriptive booklet. 

REMINGTON TYPEWRITER COMPANY, 

100, Cracechurch Street, LONDON, E.C. 

Telephone No. Avenue 6665 (4 lines). 



HEAD THE . 



CREAT WESTERN 
RAILWAY MAGAZINE. 



AN UP-TO-DATE 

illustrated J"o be had at all 
puLlYcYtion. R""»"Sr Bookstalls 

Subscription— Art Edition, 3/6 per ann. 
Ordinary „ 2/6 ,, 



Paddlnerton Station. London. 



Our Home Railways : 

How they Began, and How they are Worked. 
By W. J. GORDON. 

In 2 Volumes, medium 8vo. with Full Indexes, etc.. and Illus- 
trated with 36 unique Coloured Plates. 50 Full-page Engravings, 
and upwards of 250 smaller ones from the latest photographs, 
many of which have been specially taken for the work. 
(Style I : Elegantly bound in cloth gilt, gilt top, each 6s. net.) 
(Style 11. : Handsomely bound in half-morocco, extra, gilt 
top, each 10s. net) 

F. WARNE & CO., 

CHANDOS HOUSE. Bedford Street, Strand, London. 

A, Mr,-. " WARNE, LONDON." Telephone No. : 2208 GERRARD 



-I . niii. 



Ill R \II.W \Y 'I'IMI S. 



<0 




&%^eess TUslavrcaxft Ca\? 5satas 

LONDON (MARYLEBONE) 



RUGBY, 

LEICESTER, 

NOTTINGHAM, 

SHEFFIELD, 

YORK, 



LEEDS, 

HUDDERSFIELD, 
HALIFAX, 
BRADFORD, 
MANCHESTER, & c 



Cross Country Expresses are a distinct 
feature of the G.C. Service. 

NEWCASTLE, SUNDERLAND. DURH \M. 
YORK. MANCHESTER, BRADFORD. HUDDERSFIELD. 

/.<> 1 in Hi! AM. and SHEFFIELD, 
are Provided with Through Luncheon Car Train* via 
ind BANBURY 
to and 
Oxford, Southampton, Bournemouth, and tin- South 
Western Line, also to and from Oloucester, Cheltenham, 
Newport, Curdilf. Barry, and South Wales. 
Hath and Bristol (with direct connections for the 
West of l-n^land 
are reached In- Through Breakfast and Lum 
Trains from 
WAKEFIELD, HALIFAX, HUDDERSFIELD, 
'■ 
Via MARYLEBONE is LONDON'S POPULAR 
ROUTE for STRATFORD-on-AVON . 



IMI O'MIM SI 

Trains to ORIMSB^ 

HWIW R<3, kill II RDAM, VNTWI RP 



For particulars ol I 

. 
send si postcard to Publii N W. 

SAM FAY, General Manager. 



THE SHREWSBURY & GHALLINER TYRE CO., 



MANCHESTER AND LONDON. 



LTD. 



SOLID TYRES for Motor 'Buses, Tower Wagons, Lurries, and 

every description of vehicle. 
Challinen's Patent Giant and World Tyres are used by all the large Railways. 
Wrought Steel Girder Type Wheels— Prices 

MANCHESTER: 

Reg. Office: KAY ST.. ARDWICK GREEN, MANCHESTER. 
Pneumatic Dept. : 12 & 14, ARDWICK GREEN, MANCHESTER. 



LONDON: 

PAGE ST., WESTMINSTER, S.W. 
VALMAR RD.. CAMBERWELL, S.E. 



DENNY, MOTT & DICKSON, 



IMPORTERS OF AND DEALERS IN ALL KINDS OF 



LTD., 



TIMBER FOR ROLLING STOCK, 



Telegraphic Add re 
" DENNY, LONDON 



SHIPBUILDING, ETC. 

LONDON -14, Fenchurch Street, and East Wood Wharf, West India Dock 



T. I. -phono Nos. 
4495 4 1214 Avonuo. 



LIVERPOOL: 
170. Regent Road. 



GL \s< .< »a . 

87. L'nion Street. 



\SI LE: 
B.,nk Chambers 



CARDIFF: 

Steam S.>w Mill 



hombcrs 



THE RAILWAY TIMES. 



[February 4, 191 1. 



COMPANY NOTICES. 



Great Western Railway Company. 
"\rOTICE is hereby given that the 

\ .. 11 ,11 i-i irli Genet i) Meeting ol tti Pro 

. will be held, pursuant to 

1 : mi.-iit. 111 b.iii.hin. :,t I'mlilini;- 

uu 1 hm - I in . tin- lu'li 1 ' 

look noon, for th. election ol 
and for the -j.-n.aai purpose of bust 



I , 



1 , 



11 said Hall vearlj 
eluded 01 adjourned— when 

for the approval of such Me 



dg to 1 he Sei iri.m ol 
in be nominated Eoi 

,i,l Huh 1, ,iu General 

given tli.it '1 Special 
Letors will in- held it 

1 11 -,t Half-past 



ig the 1 

struot new Railways in 
.1! then , and 

mil: th. undertaking ol 

I 1: Hi-.- .11 < ' 

Hi. i.i it »'■- - 



Midland Railway Company. 

NOTICE is hereby given that, pursuant 
to the Standing Ol li re ol Pari t, 

,,,- Extraordin n ; Si aeral Me ting ol the P 

I Itmlu.n I' ianj will be held at the 

station of tin- - ml r..in| ... in it Herb}-, on 'I'lnii iday, 
I ,v -.1 K,li, imiy. PHI, nt Two o'clock in 

mi the I'm "I considering the 

,,,;],, -mi, ... Hill mm liiiu-j ],ii, inn t-.l in Parliament: — 
Midi .ml II 11I.1. in -' A Bill in 1 out' -r additional 

powers hi tin Midland Railway Company for 

the Construi tion ol Work! on th it C - 1113 

the Midland and Gt 'at Va In 1 n R lilways J. nut 



the acquisiti 



1- 



11,1 for "tin 



1 ; -, | . - 1 I ■ 

fli .Iflll Mi- 
ll. TTLSTON IH n't.-' !'■. 

Di 
ALEXIS I. CH \l.'l ES 



Great Northern Railway Company 
(Ireland). 

rTlHE Directors are prepared to receive 
J_ Tenders for the Supply of 60,0 

Blocks or 120,0110 Sleepers. 

Copies of tin- specification and form of I- ■'■ 
be obtained from the Sec: 

Tenders, made out on the forms supplied by the 

, si .i-.l cover, 

render for Sleepers," to the Undersigned 

not lit. 1 than 10 a.m; on Monday, iTth February, 

1911. 

The Directors do not bind themselves to ' 
lowi -t 111 an; 1 endei 

T MORRISON -- ' 
Secretary's Office, 
Amiens Street Terminus, Dublin. 
25th January, 1911. 

Belfast and County Down Railway. 

rptlK I> rectors of ti,«.- Belfast and ©ounty 

Railway Company are prepared 

supply of the undermentioned 



\ 11 
. mpn 



, mpi 



th.. 



London Rails 






1,, 



,,,,,,.. powers on that Cmiipauy mn i-.-itaiti 

portions ..1 'I- i "1» .>- "t the Great Western 

Hailwaj I '-' ' """'' '" 

tween the said Comp - . ind for other pur- 

, ,. - to emnower the London Electric R 

Companj 1 nstruet new Railways; 

. n poi 



Midland Railway Company. 
\TOTICE is hereby given that the 

^\ next II ilf-Ti 1 ti- 1 n M.i-ui. 

Midland Rail* n 1 ompanj will be held at the Station 
of the said Cotnpam at l>.-ii.\ ,.n llnu-ilny, th,- intii 

day "t Fel v, 1911, at Half-pas 

the transit tion - th Gi 
..... 1 impany. 

ERNEST PAGET-, 

rli .11111:111. 
II TTLSTON HODGSON, 
|i, put; 1 

ALEXIS 1.. CH MILES. 



1 

for t 

No. 

1. Iron. 

2. Iron i'i 
:i. Turn ire. 

Spikes, &o. 

.,,.1 Axles. 
li. Sialics, Sli-i 1, 

Files 
: n , . Screws &a. 
- 1 . , Fittings. 

:i Bi 1 hi B a 

11. Glass 

12. Hopes, Twine, 

11. IX 

1 : Canvas. 
Sample 



1st Man h 



xt: — 



U. Cairriag-e Ti-imnnn 
16 Oils and Tallow. 
17. Varnishes, 
is. Colours: 
19. Waste. 
.. .. Fireclay Goods. 
1 , ■ and 
1 . 

22. Stone and Brick. 

23. Lime- ■' 

:l Petroleum Oil 

Drysalteries. 
25. Switches and Ci 



ml Patterns 



26 I' 



i- 1.1 ngl m SI . 



, 111 1:1 HILL Chairman. 
\ E BOLTEB Secretary. 
I 1911. 



to the Stiii.-l,..|ii-r. Belfast Terminu 



and Slates, 
on application 



Grand Trunk Pacific Railway Company. 
"VTOTICE is hereby given that the 

\ 1. the C any, so far as 

reeards the Four Per Cent Debei • - Stock, will 

be closed 11. .in \\ .-.In. -l:iy. the I.ith February, to 
j.,1, February 1911 both .1 ij 
Warrants mi tin- In'n -r mi th.' half-yeai ending 
1911, will 1"- forwarded on that date 

;,, ,11 I- ft".- ..1 'in- -""i- ' ■■-•'-" "" | "" " , " 

" 'he Lath February, 1911 



TENDERS INVITED. 



1;- 



II 11 NORMAN 

Secretary . Lond in ( 

Dash-tt 1 House 

Broad Street London, L C. 

:;,,] l-.l.ia .iv. 1911. 



East Indian Railway. 

rilHE East Indian Railway Company is 
1 prep 1 the Supply 

and deliver} of: — 

.1) Hm Hematite Pig Iron; 

1 a!.-, 
ml Materials for Steel Fonndrj ..Mum im, 

Anthrai ite Coal, G ini-t.-r, ml Siln 1 s :l n,li 
ill \\ aln I Tie-Bars Keys, ind Cotters 

for Iliiiliaiii-Ihli'h.-it. - 
1 . p. -... .111 1 - t.. I..- -. .-a . 



Tenders will be received only 011 the Company's 
own forms, which can be had on application to the 
Secretary, and must reach him (marked " Tender for 
Stores 1 inn later than Ten a.m. on Mun.lay, l.lth 
February. I 

The Directors do not bind themselves to accept tie 
lowest or anv tender. 

THOMAS J. UltlTTAIX. Secretary.' 

Queen's Quay Terminus, Belfast, 
21 -t January, 1911. 



..Ilir, 



: I. ...I 



Rhondda and Swansea Bay Railway. 



X 



that ilit- 



OTICE is hereby given 

1 - - ath Hiill-Y.-iilv General Meeting 

1- .a th 

\ 1 v ('..in 



II be In M it the Hotel « 

Count-i B tali of Swansea, on 

s. ,:,„.,!.,, ti,.. mi. .l.v ..1 February, 1911, al tw. 1. 
thirty o'clock in the Afternoon, for the Gem ral Put - 
■ ,, . ' ,,, the 1 utli it iking 

1: ,1.. will •"■ ' losed from 

i iarv, both days inclusive 
in 1:1. m i: wn.i 1 wis Chairman, 
II S 11 ni.itu 
201 .. 1911. 



end. 1- an to be sent to the [mil 

li ..1. 1 ... I'm Iron ' ..1 -.- Ha- - a-.- in m ' 

1 iter than Twelve 0'. lock 1 1 on Wednesday, the 

1 ,ti, .I-, 1 ol Febru in insl int 

I he 1 ',.ni|. an t. erves to it-' II the right to di\ ide 

the ..1. 1. 1 il .. 10 de 1.1,. am Ti mler without is ign 

in* . ri a-i.ii. and does no! bind itsell to accept the 

I11J I. a. I. a 

fee nf tl 1- 1- - -If. 1 •-■■ -1 

whii I. . 11 1 mi. I. 1 ml . in im - in. - - be returned 



POSITION VACANTS. 

Indian Public Works Department. 

THE Secretary of State for India in 
Council, will, in the summer of 1911, m .im 

aliuiit 2:< Appuintiii.-iit- 1. 1 \ -i-t-i nt Engineer to the 
in-niiaii.-iit i-tal.li-linien;. of the Indian Pub! tt 
Department. 
Candidates must be British sul '-. and must have 



1: 



i- \\ , in \i; 



attain, .1 the 


age of 21 


...I ,..,t hav.' alt .1111 .1 tl 


e in 21 i. 


us mi the 


1st July, 1911. Tln-v iiin- 


1. ...- ..i.i 


1 


v degree or other apprOKi 


llllt.h 11, Ml- 






in?, or hav. 


passed ta- 


\-.,.. , t. M a. 1.. rehip la 


aiuli.at • 






A printed 




cation tos etl with h 


formation re 






may In- ..l,t 






Public Depn 


rn t. In. 


, mil. . . London, s W., 1 


whom apiiln- 






him not late 


than Mom 


i.y, 1st Mtiv. 1911. 



Niehol is Lane, London. E.C , 
1st February, 1911. 



THE METROPOLITAN AMALGAMATED 



RAILWAY CARRIAGE AND WAGON COMPANY, Ltd., 

INCORPORATING 

Patent Shaft and Axletree Co., Ltd., Docker Bros., Ltd., and 
the Willingsworth Iron Co., Ltd. 

IRON AND STEEL UNDERFRAMES. WHEELS. AXLES, 

AND EVERY DESCRIPTION OF ROLLING STOCK, 

PRESSED STEEL BOGIE TRUCKS, The " Brunswick " Weldless Disc Wheel. 

BRIDGEWORK AND ROOFS, DOCKERS' SUPERIOR VARNISHES, PAINTS, 

and FINE COLOURS, for all Climates. 

Dockers' "Henmaton" Paints tor Structural and all classes of Engineering Work. 



Registered unices: SAL I LEY. BIRMINGHAM. 
Telegrams : "METRO." BIRMINGHAM. 



London unices 36, VICTORIA STREET, WESTMINSTER. S.W. 
"RAILCAR." LONDON. "SHAFT," WEDNESBURY. 



A Journal of Finance, Construction, and Operation. 



Vol. XCIX. 



SAT1 RDAY, I I BR1 \KV .,. 1911. 



\u. 5. 



PRINCIPAL CONTENTS. 



l-li K.ulw.i 



M 





Rail* 11 



■ 11 Rail- 
way 
Metropolitan District Railway .. 

1 1 



1 Hum F 






THE RAILWAY TIMES. 

Established In 1837. 

PUBLISHED EVERY SATURDAY. 

Annual Subscription Ipost free!, 25 shillings. 

NOTIl 

All communications for the following issue should be received not 
later than 6 p.m. on I- i 

New advertisements or chances in copy for the inside pages m 
received not later than 6 p.m on Friday, Advertisements for the 
cover must be received by noon on Thursday 

Advertisements of which proof is desired should reach us by the 
second post on \^ ednesday. 

Money Orders, Cheques," etc.. should be drawn in favour of 
THE RAILWAY TIMES, and should be crossed "National Bank " 



Telegraphic Address: ' Altimetrv. London." Telephoi 
mil. •< -: 12 N'orlolk Street, Londc 



s Nn. : 2048 Qerrard. 
1 WC. 



ESTABLISHED 1809. 

NORTH BRITISH 
& MERCANTILE 

INSURANCE COMPANY, 

in which are vested the shares of THE 0C1 \N MARIN1 

INSURANCI CO., LTD., & IH1 k' Ml w \1 PASSENOERS 

v~l k' \NU COMPANY . 



Fire. 



Life. Annuities. Marine. 

BURGLARY. ACCIDENTS, ge- 



nu \l I I MIS 



£20,000,000. 

\NM \l l\( OMI 

£4,500,000. 



Chief Offices: 



61, THREADNEEDLE STREET. LONDON, E.C. 
64. PRINCES STREET, EDINBURGH. 



THE PROPOScD TILBURY ABSORPTION, 
provisional agreemenl arrived 
in, Tilbury.and Southend and the Midland Railway 
■ 'i the acqui ition ol the [on 
urprise to thi 
to the Stoi I 
posal I l tie I ill >iu \ 

rn but did nol mature. Lhe Midland 
has ma ' 3 in common with the 'I ilbury ( ompany 

c, and the joint 
system of the Tottenham and 1 

othing of the use made l>v the smallei 
St. Pai 1 m. » >iln 1 1 ompanies mosl direct!; 

I by the proposi n are the 

L the Districl and thi genei I 1 I tion is 

unless amicable arrangements have already been 

made the Greal Eastern at leasl may find it necessary to 

e the new policy. 'I he lers of 

equired to the term- "t 

i ni, which in thru final del 

to have been ye1 pleted. v " - con- 

l, little difficulty is likely h 1 h<- Tilbury 

shareh ■ nevei received .1 dividend oi mure than 

the rate which thi paid for tl 

iMi". I >n the other hand. 1 

considerably less, and terms which amount to practically 
a guai per cent, in perpetuit} mcially 

strong an undertaking as the Mid undoubtedly 

reasoi On thi is the Tilbury » ompany 

this moment earning more than 1 and is 

irther development, the .Milliard share! 

I with the n-k involved 
by the pun I jump of 21 points in I 

Tilbury, which took place on the Stock I 
Thursday, is only an indication thai 

indication thai ["ilburj toi . lik 

1 1 

■ ■ of the Tilbury Company will, 

than they now enjoy, and 

■ Ordinary si >ury will n 

! .Midland 2.J pi • 

with the {"1 of accrued di\ ii 
of Tilbury, wouli ' 

rn k 1 iver 1 

likely to be 

will !■• 

■ 



THE RAILWAY TIMES. 



[February 4, 191 1. 



be that a large good-; and mineral traffic will probably 
be brought into this area, making the Tilbury less pre- 
dominately a passenger line. The Tilbury management 
have been conspicuously successful in exploiting passenger 
traffic of all descriptions, but the absence of opportunity 
has restricted development of its goods and mineral 
traffic. Always assuming that no ruthlessly aggressive 
policy underlies the step now taken by the Midland Com- 
pany, it is difficult to see why any serious objection need 
i„ taken to the intended amalgamation. 

THE WELSH RAILWAY ACCIDENT. 

It would appear from the evidence given at the coroner's 
inquest on Tuesday last, that this accident, whereby 
eleven lives were lost, was due to an error on the part of 
one of the two signalmen that control the section on which 
the mineral train was standing and into which the passenger 
train was admitted. The man in the box — Cyfeillon 
Lower — at the entering end said that he had recei 1 
the " train-out-of-section " block signal for the mineral 
train, but the signalman at the outgoing end — Rhondda 
Cutting affirmed that he had never had the mineral 
train offered to him and that he was not aware of it until 
the fireman came to the box in accordance with rule 55. 
The jury returned a verdict to the effect that the accident 
was due to a misunderstanding in signalling, but owing to 
the conflicting evidence they were unable to place the 
blame. Various people who write to the newspapers 
suggesting a second signalman always on duty to guard 
againsl emirs in working should note that the man at 
Cyfeillon Lower had the relief-signalman with him, and at 
Rhondda Cutting there was an inspector. It is quite 
bli that the conversation that must almost inevitably 
follow the presence of an additional man in the box led 
to the mistake. 

STILL MORE IMPROVEMENT. 

The Leading Home railway dividends announced during 
the past week continue the cheerful tale told by those 
which came before ; 11 shareholders are not entitled to 
don a garb oi hilarity, they are at least fully justified in 
gathering their raimenl around them with an air oi calm 
satisfaction and a confident hope that more good things 
are in store for them six months, and probably also twelve 
months, hence. The week started fairly well with the 
Hull and Barnsley declaration of 4J per cent, per annum 
on the ordinary stock. This was at the same rate as the 
distribution for the corresponding half of the previous 
yeai , and as it was in a< 1 01 dam e with market expectations 
the price of the shares did not vary. For the whole year. 
however, the dividend is \ per cent, better, being at the 
rate oi ;| as compared with 2| for the year 1909. [he 
balance forward is also some £2,700 better than it was a 
Ik. Great Southern and Western declaration 
at the rate oi =,', per cent, per annum is J per cent, better 
than for the corresponding half. The .Midland Railway 
■ terday, 1 ame as a pleasant surprise 
in the ?ense that it had not been definitely anticipated, 
and the price of the stocks was promptly marked up. 
The distribution is at the rate oi 2}, per cent, per annum 
on the preferred converted ordinary stock, and at 4! per 
per annum on the deferred converted ordinary, equal 
to 7 pet cent, per annum on the former ordinary stuck. 
A yeai ago the corresponding equivalent was at the rate 
of 6 pei 1 -''it . per annum. Morem er, the balance Eoi ward 
shows a dight improvement, being £10^569, compared 
with £100,200 a year ago. [n anothei article we deal with 
the absorption oi the I ondon, I ilbury and Southend Com- 
pany l>v the Midland < ompany, but here, when considering 
uu|i|\ the pi a e oi Midland stocks, it 1- well to point out 
that the amalgamation is likely to aid the 
upward movement of Midland prices 1 aused by the presenl 



increasing profits oi that company. The market is recog- 
nising the probability that the profits from the Tilbury 
system will more than meet the fixed dividend charges 
on the Midland stock which is to be issued to Tilbury share- 
holders. Any surplus from the Tilbury line, after meeting 
these fixed charges, will go into the general revenue of the 
Midland Company, and will, in proportion to its amount, 
swell the sums available for dividends on ordinary stocks. 
Apart from increased business induced on the Midland 
system proper, the Tilbury Company's revenue is elastic, 
and will be more so if the Port of London new dock scheme 
is carried out. Again, if the Tilbury Company's scheme 
for further electrification of their lines goes forward, great 
increases of traffic are probable. Hence, from whatever 
point one may regard the matter, the prospects of Midland 
ordinary stockholders are satisfactory. 

Weekly Traffic Summiry. 

The traffic receipts for the week ended January 29. as 
officially published by the fifty-two principal railways of 
the United Kingdom, amounted to £1,988,702, which was 
earned on 21,543 miles, being at the rate of £92 6s. 3d. 
per mile of line open. For the corresponding week of 1910, 
the receipts of the same lines amounted to £1,844,312 
with 21,465 miles open, or £85 r.8s. 3d. per mile. There 
was thus an increase of £144,390 in the receipts, an increase 
oi 78 111 the mileage, and ait increase of {<> ys. iod. in the 
receipts per mile. Thirty-six of the returns distinguish 
between the receipts from passenger and goods traffic, 
and these show an increase of £42,023 (or £1 iSs. nd. per 
mile) in the passenger receipts, and an increase oi £97,638 
(or /"4 9s. iod. per mile) in the receipts from goods traffic. 
The aggregate increase of the thirty-six railways for four 
weeks in the passenger receipts has been £95,002, while 
the aggregate increase in the -nods traffic was £192,944. 
The aggregate receipts of the fifty-two railways tor four 
weeks (January I to January 20) amounted to £7,802,122, 
in comparison with £7,510,664 in the corresponding 
period oi last year- an increase of £291,458. , . 



Index Numbers of Railway Debentures. 

<)nr Index Numbers for the prices of best debentures of 
English Railways, based on the average yield obtained 
from these stock-, are repeated below, and the table is 
brought updo-date. The rate of interest is assumed to 
be 3 j per cent. 



Sear. 


[ndes Price. 


Month. 


[ndex Price. 


I.SJI 


79 End ot May, 1910 


91 


iSXl 


9^ 


June 


91 


[89I 


[06 


July 


No' 


1S96 


128 


August 


89-i 


1 I ,, , 1 


no 


September ,, 


881 


I'|o0 


97-1 


October 


SS 


1908 


95 2 


Novembei 


874 


1909 


93 


December ,, 


89 i 


igiO 


00 


January, igil 


00 



FORTHCOMING DIVIDEND ANNOUNCEMENTS. 

We give below tin dates on which the following companies will 
nds:— 
Great Western .. .. .. Wednesday, February 8. 

Hi'] North Western .. ,, ,, S. 

I urni .. .. .. .. Thursday, ,, 9. 

Cambrian .. .. .. .. Wednesday, ,, 15. 



l\ir. C. \. Park has been appointed managing; directoi of the 
British Westing-house Electri< an. I Manufacturing Co., Ltd., in 
succession in Mr. X. Carlton, who has been appointed vice- 
president oi lb, Western I nion telegraph Co., Xew York. 
Sit,e< iSSfi Mi Park has been superintendent oi the oarriagi 
Icpartmenl -1 th< l-oiidon and Xorth Western Railway 
Compam . 



! ii \ry 4, igr I .] 



THE R\ll,\\ \Y TIMES. 



1 5 



MONEY AND STOCK 
MARKETS. 



Se 1 1 ■ 1 i:s. 








Man h 


1. 






Continuation 




Pay Days. 




8 


I 




;! 8 1 Sent ral 


" 




ji Mines 


-•j 


} 


1 


General j^ General 


2 ; 




Mar. 7 Mines Mar. 


B 


1 


■ 






1 





Our usual comparison ol the present! position of the 
Hank ol England, the Mone) Market, the Foreign 
■ ith the positi m last I hui sda) and at the 
., . 1 . 1 , en below. 









\\ < ek 






Last Week. 


1 1 t Year. 


Bank's Coin and Bullion 




7,242 










■ -.775 


Proportion oi Reserv< 










1 cent. 


r cent. 


1 cent. 


Notes in Circulation 




10,665 


i4.3°5 


Bank Rate* 


4 ]>rr cent. 


. cut. 
1 cent. 


i cent. 
2 1 per cent. 


Open Ma 


Bankers 1 


Ji.OOO 




2 2 1, 000 


Silver bai 








Consols (account) 




70; 




French 3 per cent, (ace.) 




96J1. 


o8f. 


Paris Cheque 1 \ 


*5*- 




2 5 f. 1 


New York 60 da; 








Rio de Janeiro exchange 








Valparaiso 90-day exch'e 




nd. 


'"• 


Calcutta transfi 


; .',.'l- 


i*d. 


1 .. \ a. 


Hong Rons trai 




1 aid. 


is. 8JSd. 


- 


2S. | 


2s. 5id 


2S. .(,',,'1. 



# Fluctuations in 

Bank Rate 

•6 per cent., Jan. 2, 1908. 

* .. .. Jan. 16. 1908. 

Jan. 23. 1908. 

Mar. 5. 1908. 

Mar. 19. 1908. 

May 28. 1908. 



34 .'.' 
3 ,, 

j4 ., 



3 per cent. Jan. 14. 1909. 

24 .. .. Apr. 14. 1909- 

3 ,. .. Oct. 7. 1909. 

4 ,. .. • Oct. 14. 1909. 

5 .. ■■ Oct. 21.1909. 
44 .. .. Dec. 9. 1909. 
4 .. „ Jan. 5. 1910. 
34 .. .. Jan. 19. 1910- 



per cent. Feb. 10. 1910 

., .. U.ir. 17. 1910. 
lune 1. 1910 
June 8. 1910 

.. .. Sri 1 

.. .. Oct 

I .. .. 



The Bank return this week shows no very important 
movements ol mone; Mi. gold received from abroad 
was ^282,000, and this was supplemented from the 
internal resources ol thi country by ^207,000; but the 

1 at the same time expanded by 

,£.450,000, si) the Reserve was not greatl) increased, and 
is hut a.vi.ihiii higher. Discounts are inclined to ease, 
though Other Deposits being but ^41,867,000, tin market 

plentifully supplied. The figure is ,(.77;. 

ab >■■ ' that ol last w eek ; : 1 tinted foi '»■ art 

^509,000 in Othei Securities, which exhibits 
applications 1>\ the market to the Bank, and partly also 
t<> the fa< ; that the flow 61 taxes into the Treasury has 
not yet reached a volume which surpasses disbursements 
by the Government. Publii Deposits are actually 
,000 down, and some ol the reduction is, no doubt, 
seen in the decline of Government Securities by ,£.'50,000. 
As the result ol .ill 1 hang< s 1 to the 

liabilities ol the Bank is less b 1 nt., which 

it at 51 I he decline in discount rates during 

the week is due rather to the weakness of money than to 
any eagerness ol hankers to or hills, and this 

will probably cease when the I 1 r begins to sweep 

up the loose < ash at the disposal ol the mai 
happen in a « eek or two. 

On the Stock Exchange business has b though 

on the whole prices have been good. The quietness is 
due •• paratively small amount of speculation 

which is now being initiated, and the firmness • 
is due to the relatively 1 

ment in ul it 1 xi^:^. There an-, however, many 

indications of new speculative movements in contempla- 
tion. The recent rtsc in the price of rubbei 1- an example, 



trade 
is being 1 ondu< ted in the better ■ las., of bn 
in anti 1 he time w hen the public w ill bi 

ahve to the fact thai the residuum ol securit) aff< 
by such stocks warrant s than 

been seen in current qu< some time past. 

Perhaps the d< bi ntures ol tmway 

companies n lone. In 

cue the rtise in Home rails make lowly. 

1 Kiii ot the 
tci ins upon w In h the Midland lin< i to acquire 

the London and Tilbury undertaking, 1 ol the 

latter rose ai: om c to 1 ■ led to 146, 

after which the price fluctuated a good deal within 

limits, • 1 17. II there were any guarantee thai 

the agreement would go through unmodified, 160 would 
ible figure Hie G I -.., the 

District, Railwaj might, no doubt, l>e brought to terms 
nil int much difficulty, it the) have not already been made 
agreeable ; but Parliament is a factor in anv final am 
mi in ni ilcs sort, and iis effe t is bound to be detrimental 
to profits. The North-Eastern Railway, as we write, is 
in trouble with its em itrant tisli 

llioio appears to be no end to the labour ditli- 
ol this too oonci'lfiatorj board ol direct >rs, and 
probably there will be n e until a war has 

concluded. 

Last Saturday Americans were up, but Trunks fell, and 
although some ol the Colonial stocks were higher on 
mi ol investment demands, Consols were dull. In 
Home rails prices steady. On Mondaj Consols 

wen- again lowei on I or. Home rails were 

irregular. The Hull and Barnsle) dividend, ai bhe same 
rate as .1 w-.n ago, left the price unchanged. Americans 
were again higher and Trunks much favoured. The next 
da) like conditions prevailed, but ( >sed s shade 

higher. A failure was announced in the Hoi 

ils members; the amount involved, however, was not 

heavy. On Wednesday the markets were better. Home 
rails were stronger. Argentine railways 1 ame in for more 
notice. I he risi in Americans continued, and fYunks 
remained firm. Consols again imj lowing 

icement ol the Midland and Tilbury 
arrangemenl benefited the latter, but the former not 
appreciably. Home rails generall) wen' stimulated, 
though the 1 ffei I ol .''I ■ hanges on the day was irregular. 
North-Westerns improved, but N 

in >ur in mble. 'I he Deo tement 

ol the Mexican railwa) showed a low ratio ■ 
and was liked for that reason. Though the 
not all that had been hoped lor, prices advanced raction- 
ally. United Havanas rose 1 .'. in sympathy with tl 
Havana Terminal Debentures, v.l'i h . 
premium. ( >n Fl idav the I Cp >rt of tl 
ap[>eared, the most notable featuri 

11 ol ,£.15. 

distribution would have been feasible. The Midland 
announced a dividend of 4^ per cent, per annum • 
deferred sto k for the half-year, which exceeded the 

market by I percent., with the result that tin 
became buoyant and closed two |*>ints up. 
the other hand, London and Tilbu 

I, 1 in a belli r - or, rathi 
difficulties in tin 
reached bv these two companies. 

West< 
annoui 
again fell \ in homage to the - 

■ 

■ 
thoug 



io + 



THE RAILWAY TIMES. 



[February 4, 191 1. 



The principal movements on 
. Name of Stock. Rise. Fall. 

British Funds. 
Consols, 2 1 per cent. — .. i 
Do. (ace.) z\ percent. — .. — 

h Railways. 
Barry Deferred .... — .. — ■ 
Caledonian — . • — ■ 

Do. Pref. Con. Ord. — . . — 

Do. Def. Con. Ord. — . . i 
Central London .... — . . — 

Do. Deferred .... 1 . . — ■ 
City and S. London — . . A 

Furness — • • — 

Great Central Pref. — . . ' 

Great Eastern J xd — 

Gt.Nthn.Prcf.Con.Ord.— .. J 

Do. Def. Con. Ord. — . . } 
Great Western .... — . . A 
Hull and Barnsley — . . i- 
Lancashire* Yorkshire — . . — 
London Br.& S. Coast ■ — . . — 

Do. Deferred .... J . . — 
London Chat. & Dover — . . — 
London & N. Western 2 . . — 
London & S. Western — . . 1 

Do. Def. Con. Ord. — . . } 
London, Tilbury, &c. 14 . . — 

Metropolitan — x ' 1 

Metropolitan District — . . ■ — ■ 
Midland Def. Ord. .. 2| . . — 
North British Pref. Ord. j .. — 

Do. Def. Ord — . . I 

North Pastern Cons. — . . ij 
North Staffordshire — . . — 
South Eastern .... — . . — 

Do. Deferred .... 1 . . — 

Taff Yale 1 i . . — 

Colonial Railways. 
Canadian Pacific . . — . . 1 
GrandTrunk of Canada — .. A 

Do. 4 p. c. Guaranteed — . . • — ■ 

Do. 1 st Preference — . . — 

Do. 2nd Preference A . . ■ — 

Do. aid 1 — .. i\ 

A merican Railways. 
Atchison Common .. ±\ xd — 
Baltimore and Ohio. . -\ xd — 
ke and Ohio 1 '- . . — 



the week are as follow 

Name of Stock. Rise. 
Chicago Gt. Western 1 
Chicago Mil. & S. Paul 3 . 
Denver & Rio Grande 2 \ . 

Do. Preferred .... J . 
Erie Common 1 

Do. 1st Preference \\ . 

Do. 2nd Preference 1 
Illinois Central .... zJ 
Louisville & Nashville 2 > 
Missouri Kans.&Texas i 
New York Central . . 3 
N.Y., Out. & Western 1! 
Norfolk & Western . . i| 

Do. Preferred .... — 3 

Pennsylvania I I- 

Reading Common . . i-i 
Southern Pacific Com. J 
Southern Common . . j 

Do. Preferred \ 

Union Pacific .. 

Do. Preferred 
Wabash 

Do. Preferred 



BRITISH AND IRISH RAILWAY DIVIDENDS. 



3 



U.S. Steel Corp. Com. z| .. 

Do. 7 p.c. Cum. Pref. 1 
Foreign Railways. 

Antofagasta Def. Ord. — . 

Argentine Gt. Western — . . 
BuenosAyres & Pacific — . . 

BuenosAvrcs Gt.Sthrn. \ . . 

Buenos Ayres Western A . . 

Central Argentine . . — . . 

Do. Deferred .... — . 

Cent. Uruguay of Mont. — . 

Cordoba* Ros.ls1 Pref. z . 

Cordoba Cent. 1st Pie!.— . 

Rica — - 

Cuban Central .... — . 

Leopoldina — . 

Mexican Southern . . — . 

Mi -- Li an Ordinary . . — . 

Do. 1st Pref., S'p.c. — . 

Do. 2nd Pref., G p.c. — . 
Nitrate Ordinary.... — 

Do. Deferred .... — 
Ottoman(Smyrna to Aidin — 



BANK RETURNS. 



The return of the Bank of England for the week ended 
Wednesday, Februan i, compared with that for the previous 
week, shows the following- changes : — 



Fi b. '-'. 
1910. 


BANKING 

DEPARTMENT. 


Jan. 25, 
1911. 


Feb. 1, 
1911. 


increase. 


Decrease. 


£ 

3,452,fUK 
10,211,150 


Liabilities, 

Rest 

Public Deposits 


r 
3.500,472 
11,248,252 
11,094,052 

31,776 

14,055,493 

28,208, 182 

20,224,415 

952,102 

27,176,577 
51 89 p.c. 

1 ,,,-. 

a;,: p.c. 


£ 

3,520,378 

10,953,074 

41,867,051 

36,002 

14,905.493 

28,807,937 

26,202,005 

1,014,070 

27,216,075 

51.49 p.e. 

1 p.c. 

1 1 


£ 
19,906 

772,999 

1,226 

Decrease. 

50,000 

22,410 


£ 
295,178 






14,010,875 


Assets. 
Govt. Securities 


Increase. 
609,455 


1)83,780 


Notes 

Gold and Silver 


61,90! 




Batio 


866,541 


866,511 


50 10 p.i . 


Increase. 
39,498 


Decrease. 




Market Rate 





ISS1E DEPAB 


Increase. 


Decrease. 


£ !' 

35,676, 160 1 oin andBullion . 


701,030 I50J305 


£ 


: ii on 





reported that tin 
b\ tin 1 .real Cen- 



A Manchester Suburban Electrification. I 

Main hestd , South Jun< tion and \lti in. ! 
eleclrilii d. This suburban route i- control 

11. il and the London and N'm Hi V\ , - Companies, and 

11 i- said, bi 1 ii madi foi 1 arrving out tin 
within the next three months. It is understood that a 
15 minute service will be run nc rmally, and il 1- hopi d to n gain 



The following table shows the dividends on the ordinary 
stuck, uniess otherwise stated, oi the leading English and 
Irish railways for the half-year ended December 31, and by 
the Scotch companies for "the half-year ended January 31. 
For convenience of comparison, the dividends for the corre- 
sponding half of the previous years are also shown. 



Name of 
Company 



Second Half. 1909 Second Half, 1910. 



Bala and Festiniog £229 . 

Barry 1 .527 . 

Belfast & Co. Down 2,600 . 

Brecon & Merthyr 1,325 . 

Caledonian (def.) .. 14,233 . 

Cambrian 287 . 

Cardiff 26,649 . 

Central London 39,000 . 

City and S. London 1,868 . 

Cork Bandon& S.C. 1,900 . 

Dublin and S.E. . . 5.447 . 

Furness 1.453 . 

Gla3. &S. W. (def.) 9,158 . 

Great Central | 4,400 . 

Great Eastern 19,285 . 

Great Northern (def.) 24,762 . 

G.N. (Ireland) .... 35.572 . 

G.N. of Scot, (def.) 2.501 . 

Gt. S. & Western 30,984 . 

Great Western 74,400 . 

Highland 0,030 . 

Hull and Barnsley 23,164 . 

Isle of Wight (def.) 191 . 

Lanes, and Yorks. 22. si I . 

L'pool Over, (pref.) 4,696 . 

Lond.B.&S.C. (def.) 21,900 . 

L. C. &L>. (1st pref.) 7 Hi 1 . 

London & N. West. 113,000 . 

London >v g.W.(< on) 28,856 . 

Loud. Tilbury & S. 2,893 . 

Maryport and Carl. 1,288 . 

Metropolitan 3,904 . 

Met. Dist. (guar.) 359 . 

.Midland (deferred) 24,360 . 

Mid. Great Western 3,967 . 

North British (def.) 22.271 . 

Ninth Eastern 80 100 

Nmth London .... 5.370 . 

North Staffordshire 9,000 . 

Port Talbot 139 . 

Rhymney 17.577 . 

South Eastern .... '.1.247 . 

Stratford & Mid. J un. I 105 . 

Taff Vale 27,768 . 

Vale of ' llamorgan 451 . 

Rl 1 



Is and di p 

1 to spci . 
■ prel 



I: Full dividend 
and 2 per 1 e 
/ After plai 



1} 


.. 214 


£196 






1.'. 


.. (3,290 


1.807 


.. 6 


. . 2,254 


II'. 


..06,140 


3.274 


. . 7 


.. &6.460 


4 


. . 424 


1,134 






nil 


pl2,064 


IS. 152 






n 


.. tU21 


5.334 






3 


..16,271 


5,876 


.. 3 


.. 3,791 


3 


633,242 


40,079 


.. 3 


..£•33,645- 


1, 


.. r/712 


1.034 


•• It 


. . d 1.788 


3 J 


...'3.53X 


2,289 


.. 2 


.. /3,546 


9 


/12.147 


6,226 


.. 1) 


. .gl3,973 


1 , 


. . 2,098 


1.523 






li 


..o9,198 


9,330 






A- 


.. 7.577 


16,600 


. 4 


. . ,8,500 


4 


..98,720 


20.1 '.is 


• ih. 


// 100,0110 


!, 


y'67,149 


79,964 


..1 


W85.163 


6 
ml 


..51,100 
. . 2,996 


38,400 

5.5114 


• 6j 


.. 51.000 


5 


/C4.S20 


33,419 


• 5J 


. .ji60,396 


7 


98,800 


96,902 






i : ; 


..10.2! 17 


7,128 






41 


..10,04] 


20,238 


• H 


.. 12,773 


4 


.. 1.741 


2(14 






4} 


..38,693 


23,044 


. 5 


.. 39, 


• 


.. 4,614 


5,917 


. 5 


.. 4,240 


4 


..36,861 


25 169 


• -i', 


.. 38,200 


4. 1 , 


..3(1.137 


1,768 


. i\ 


.. 71,907 


7 


«118,517 


100,000 






8 


. . 32,852 


32,009 


• s ! 


.. ,35,142 


sj 
6 


.. 4.013 
.. 1,800 


2,249 
1,313 


. s'. 


. . 3,900 


1 


,.fi5,927 


6,044 


..IS 


.. c. 1.499 


4 


. . «942 


S.527 


.. 4 


.. £2,020 


:: 


I00.20:', 


36,123 


. r 


..101,569 


. 


..16,228 
220,511 


5.3112 
27,856 


.. 3 


d. 19.500 


7 


. .96,500 


85,476 


. . 7 


1(13,970 


4 


.. 4,918 


6,300 


. . 5 


.. 06,142 


r. 


. .10,546 


1(1.'. 152 


. . 5 


.. 10,682 


3 


.. 308 


1,239 


.. 4 


.. 1.719 


9 J 


..17,374 


7.H57 


. n 


. . 7.2S2 


5 


. . 8,690 


20.420 


. . 6 


.. 10,800 


2 


. . 743 


75(1 


..1 


606 


4 


. .2'.i.35i; 


2S.155 


.. 4 


.. 27,867 


v, 


. . 467 


475 


. . 4 ;, 


486 






. 






er 1 


1 building 

tOCkS. i: \ 


enewal account and £1,100 to 
\iia- placing £300 to renewals, 
annum on 
tire insurance fund. 
p 1 j.l.i. tn- £5,000 to electrical 
10 to reserve. / Alter placing 



1 the 






the 



nd £10,000 

/ Ui, r pi 1 



1 4 per cent. 

ila.l 1i,m - suspense account, m After 
lid on A, B, and C, and 1 per cent 
account, ,, An. 1 , 

lis. q After placing 



si. IIP 



if 111 



II 



lost in the ii 



Ml.. 1 i-l 
Up , ,.:.„ 



Rl 1111 -a 1 S FOR 1010. 

. efvi ind £5.0601 permanent m n 111 ivals h After 

, Uu-i pla, inn ' hi.iiui 1.1 . le, 1r1c.1l renewals and depre- 

/ UP 1 plating Mai n.n.il fund, c After placing ' 1 I.OOO 10 

1.1 I live ii ncwali . S After placin 

1 -hi, 1 .,,,.1 ■ ..',, p, ,. .il ins,,,., nre /, Aft, r pl.icm,: ' Iii.ih'ii t 

, , I 1 full dividend . onsolidati ,1 pri fi n nee stocks. 

'_ 111.11m to si, .,,,, I, ,p moil.,,,, , account. k Aft, , placinc ! 
1 :o,000 10 ,. s, iv, and ' 

to pecial renewal and 615,000 to contingent fund 
il reserve. After placing £5,000 to general 



EBRU \KY .}. l;l I . 



Till. KMI.W VY TIMES. 



MEETINGS AND REPORTS. 



FORTHCOMING MEETINGS. 

Feb. 7 (Tuns.).— London and Blackwall Railway ( I lalf yearly), 

! riars, E.C., 
at i. 
I Lancashire and Yorkshire Railway I 

'i. Hull and Barnsley Railway I • arly), Liver- 

pool Street Hoti 1. ' 
l Port Talbot Railway and Docks (Half-yearly), 

l 

u 
I Somerset and Dorset Railway. 

Wat 
Tafl Vale Railway (Hali . 

Bellast and County Down Railway i 

Board Room, Bi Ifast I- rmii 
Cardifl Railway Half-yearlj 

\n: 

bv a 
Dublin and South Eastern Railway (Hal) 
lublin, at 12. 
ft.), -East Lincolnshire Railway Annual 

. (Thins.).— London Electric Railway H West 

■I*',.— Metropolitan District Railway (Half-yearly), 

nster Palace Hotel, S.W 
.s.).- Midland Great Western Railway of Ireland 
terminus, Dub- 
lin, a 
g (Tlntrs.). — Stratiord - upon - Avon and Midland Junction 
Railway (Hall yearly , Gn 
Hotel ! 
Fri,),- Great Central Railway Half-yearly), London. 
Manchester, at ij. 
Feb. io {Fri.).— Great Northern Railway (Half-yearly), King's 
in, at 12. Followed by a 

{Fri.). — London and South Western Railway Hali 
yearly Wa1 at 12 Fo 

I 
Feb. to [Fri.).— North Eastern Railway (Half-yi 

I en York, at 12. Followed by 
.' raordinary Meeting. 
I to {Fri.).— Rhymney Railway I 1 

Cardiff, at [2. Followed by an Extra- 
ordinai 
ii (Sa/.). —Rhondda and Swansea Bay (Half-yearlj 

[2.30. 
I\b. 14 (7i«rs.).— Alexandra Newport and South Wales' Docks 
and Railway Half-yearlj . 1 (, St. Man 
Axe, E.C., at 2. 
Feb. 14 (Fiifs.).— North Staflordshire Railway H. < by early), Stoke- 

upon 
Feb. 15 (Wed.). — Great Southern and Western Railway Hal.'- 

rminus, Dublin, 
at 2. 
irs. Great Western Railway (Half-yearly), P 
• u. Followed 1>\ 
Meeting. 
11 . . Manchester Ship Canal (Hall yearlj . Memorial 
Hall, A I r, at 11. 

[Ttiurs ).— Midland Railway (Half-yearly), at Derby, at 
2 p.m. Followed by Whamcliffe meeting. 
Feb. 10 {Thurs.).— North London Railway (Half-ye: 
Stati N'.YV., at 1. 
{Fri.). — Didcot. Newbury and Southampton Railway 

Hoi 
S W . 
Feb. 17 London and North Western Railway 

yearl at '2. 

Feb. 2; {Wed.).— Alberta Railway and Irrigation (Special), 

Wini 1 t u 

Feb. J 7 [M : . -BudleiKh Salterton Railway VVater- 

, 1 
Wh; 
Metropolitan Railway ot Constantinople 

March 28 (Tues.).— Ottoman Railway- 
it 1 J. 

irns, Prospectuses, and all oilier Hen 
intelligence should be sent as , 11 
Tut K \n w.w Times i 2, A 
phone graphic address. Altimetr) 



GREAT EASTERN RAILWAY. 



I ' Ml', [chairman 

1 in (Mr. P, 1 

'I he ( 11 mi ■ 

first time for manj 
, 

! 1 »w an 

and the 
total £1 

- ■ 

a dividend, for \vh< 

bear in mind that 

u i> 

called, up to the hilt such 1 

[ear, hear.) O • duty, 

acting in j 

but :il-<> to have regard to the immediate future. I 
sequel • 

: ',\ itll X.- '•'•■ 

than we did in th< ■ 
namely, .1 total of ^,100,000. Now, that i- 
and 1 should like to explain, for tl 

holders who ma} only the < unpany, ih.r. 

man] 

to the discrepancy in the receipts between the u; I 
. it was advisable fur the direct 
ilise the <ii\ r id< 
we have alv le fat half-year, carried • 

a sufficiently large sum to diminish !■• 

tween the first and 
hali "I the that we hav< 

w ill turn i" page 13, -1 iti mi nl N 
will deal with the receipts. Thi passengei traffi as regards 
the first class, shows a verj 

igers and ^2,416 in money. 1 whilst 

show inj 

(plain that by mentioning thai 

1 Exhibition a umber 

: Continental route 

Brussels, ind tl Ii mg distance pa) ments, t- • 

balanced the reduction in sneond 1 in our 

suburban districts, wh of travel wi 

The third class - show an 

1,732,963 in number, and an increase in ••■ 
ll h . total in< rease in passengers w as 
in money .6 >' • t'i s - 

Sr tsiDl I . 

The seaside traffic from London 

i the verj inclement condition of the weal 
autumn, was exceedingly good, and amount.il 
I showing 
ind of ^4,240 over the pre\ i 
nami 1 itn ,1 "' 

t'ion ot Southend, showed ini r< 
nth and Felixstowe leading with in 
. and £i,S , Now, I - 

ravelling pub 

ried 171,278 | 

1 - ti 



I 



>o t I I. i ' 



io6 



THE RAILWAY TIMES. 



[February 4, 191 1. 



show .in increase ol £2,700, and that is especially satisfactory 
when you take into consideration the failure of the fish traffic 
in last autumn, with which 1 will deal presently. Tin mer- 
chandisi traffic showed an increase of £41,400, and we con- 
ceedingfy satisfactory. Shop goods in anil 
out ot London show .in increase of 15,500 tons. More barley 
was sent to Burton than in the corresponding half of last year, 
and you will lie pleased to learn than in three counties which 
we serve there was an increase of 25,000 acres ol land under 
barley, which looks as if tin- British public has not forsaken 
one of i!i' besl forms ol produce in the British Empire. 
Potatoes wo good and agricultural machinery shows an 

increase outwards ol ;, • tons. Our prospects for this half- 

vear are good, thought the cattle traffic is not likely to be s«, re- 
munerative owing to Irs- 1 1 n] in- si li lis being available. 'I he fish 
traffic was a decided failure. There was a large decrease in fish 
caught loth by Yarmouth anil Lowestoft boats, hut, owing to 
increased prices, merchants ami smack owners have done well, 
though the class of men who handle ami pack the fish have 
suffered. This increasi in values, in spite ,.[ a large decrease 
in weight, throws some light on the fallacious character of 
the monthly Board ol Trade returns which are compiled from 
\ allies ami not from hulk. T!he total amount received by us 
for the carriage ol fish from both ports was £36,400 as against 
£50,500 in the corresponding period ot last year, showing a 

decreasi ol .014, - 'I he coal traffic, 1 am glad to s;,\, was 

the highest as regards receipts for the hall ami the whole 
year that we have ever experienced, ami the goods managet 
has even' hope that thai progressive increase will continue. For 
the half-year our receipts were £384,846, ami for the whole 
year £722,61 1 , as I have said, the highest we have ever rei eivi d, 

Continental Traffic. 

The Continental traffic shows a large increase ol £9,500, 

and the passenger and goods receipts als istitute the highest 

in any half-year. The "St. Petersburgh," which is the sister 
ship to the " .Munich," came into service in Jul) last, and the 
punctuality on the route has been very good since it has been 
running. On 1 nly two occasions did we miss the trains running 
into the continent. I should like to call your attention to the 
weekly service betui 1 Harwich and Gottenburg, which com- 
menced 1. -t M ly ami was continued until September and will 
I" continued tor the same period this year, li seems to have 
given gn it satisfaction to the travelling public. 1 am glad, 
to tell you thai I have teason to believe liis Majesty's 
Admiralty are not only considering the ]«>lic\ ol making Har- 
wich an exceedingly strong naval base, but it has been decided, 
I am told, that the port is o be put in the command of a 
Rear-Admiral, and that between mm and the summer time 
we expect 9,000 bluejackets will he stationed here. That 
would give a -r.ai impetus to the traffii between Har- 
wich .and the neighbouring town of Dovercourt and 
London. Lowestoft Harbour dues show a falling of) ol 
/-•,7"ii, and thai is, ol course, due to the failure of the 
fishing season. Hotels, rent of arches, etc., show only a small 
increase, and I wish ii had been larger, but we have had in con- 
nection with the hotel department many expenses to undergo 
in the course of the half-year, all of which have been charged 
to revenue. I think you would like to know that owing to 
ile increased numbers ol people using tin- hotel proper, and 
the coffee room which it contains, we are enlarging the space 
adjoining the coffee room to provide a more favourable lounge 
for our customers. I hope it will he completed before Easter. 

Expenditure. 

Now-, it you will turn to the revenui expenditure, I will deal 

briefly with one or two items. TJie maintenance of wav and 

works -how s an in. 1 1 .01 ot £5,500, ol which £5,4 17 arc- due to 

wages. 'I hat means, you will bi glad to hear, increased work 

permanent way, with a view to carrying the largi traffii 

which is continually taking placi lie locomotive, carriage and 

wagon department shows an incn 1 1 ol £29,552, of which 

1 an dm io the extra 1 osl ol < oal. 1 he Continent d 

department shows an increasi of £5,262, ol which £2,767 are 

io the increased cosl of coal. In thi general charges 

an increa 1 of £11,518, of which soiw £5,000 are dm 

extra 1 hat a in respect of 1 mi \. 1 idem Fund, w hii h I w ill 

ith it -in '.noun 111 Rates and ta 1 how an increase ol 

and hat bou 1 .; 1 5 II' 

items maki a total ol .'.:-. 1 ; ' increase, againsl an 

• eipts -I ■' 104,300 \. iv . 1 1,0 'an 1 easi 

chai 1 ■ . ■ 11 ... tint ol \ocidonl Fund, is dm 

p.ai ll\ to an ini o i-. . ■ : in 1911 1. 

I think ire that wit it the gi ni ml 



concurrence of our staff we contract out of the Workmen's Com- 
pensation Act. The shareholders were informed by me some 
' irs ago that it probably costs the company some £2,000. 
more than it we had worked under the terms of the Accident 
\'t. but wi considered that the goodwill which exists between 
ourselves and the men in consequence of the operation of this 
\ci ideiit Fund — which is worked by myself, some of my col- 
leagues and a committee elected by the men themselves w< 
considered that, owing to the good feeling which was coated 
by ih. working of this arrangement, it was well worth the 
^_.'j,.io,i a year expenditure on the part of the shareholders. 
(Hear, hear.) But now, under the Workmen's Compensation, 
Act of moo, a workman is entitled, in case ol disablement, to 
either a weekly allowance, or, at the option of the employer and 
the judge, a commuted amount. In some of our cases com- 
muted amounts have been taken by agreement. In order to 
ivoid the heavy charges in future half-years that would be 
brought about by an accumulation of weekly payments, the 
company's existing liabilities in respect of Mich payments in 
■ asi s of permanent incapacity have been capitalised and 
broughl to debit in the general charges account. The 
..mount represents two years' settlements, and the average 
per half-year is about ,£1,660. 1 should further re- 
,11, irk that if we find by experience that the administra- 
tion of this fund of ours 1 xceeds what we originally led 
the shareholders to believe, I think it will be our duty to recon- 
sider tin position, and see if it might not be well to go back to 
the Act itself and drop our own fund. You will be glad to 
hear that a new station called Squirrels Heath and (.idea Bark 
was opened on December 1 last, and the traffic so tar 1- satis- 
factory. Ii is proposed to develop the neighbourhood as a 
garden suburb, and a housing and town planning exhibition 
will be held there in the summer. Houses of various values,. 
io form pari of the exhibition, are already in course of erei tion. 
The station was erected at the request of the local landowners, 
under a guarantee of traffic. I should like to call attention to, 
the fact that Mr. Ellis, late superintendent of the company, 
retired from the service on December 31 last, after a career 
extending over 54 years with the company. He has been 
succeeded by Mr. F. G. Randall, the superintendent of the 
London district, and formerly outdoor assistant to the superin- 
tendent of the line. Mr. Ellis, just previous to his retirement, 
had the satisfaction •.! learning from the directors that they felt 
themselves, in consequence of the improved position of the 
company, aide to ini rease the salaries of the clerks in his depart- 
ment as well as those in the goods department, and I should 
like to call your attention to this fact that we have done this with- 
out any solicitation or an\ agitation on the part of a body of 
gentli men w ho for years have given us thi ir besl and most I03 al 
services. We felt that the time had come when, the company 
being in a heller position, the shareholders would , ■onli.dk agree 
to an advance in salary to which we felt that this portion ot 
our si.dt were fully entitled, and if any of you have friends who 
are unwise enough to believe that such increases as these can 
he obtained only by agitation, I hope you will inform them that 
it is the first opportunity during the past ten years which the 
directors have had of doing justice to their clerical staff. (Hear, 
hear.) I am sorry to say that the wage-earning staff did nol 
think it well to trust their directors in the same: manner as the 
clerical staff, and from evil advice from outside son,,,-, they 
thought ii necessary to go to arbitration in respeel ..I wages. II 
they had trusted to us, 1 think they would have done better than- 
under the award of an arbitrator ; bul .0 the matter stands that 
award holds good until December, mi;, so I think you, the 
shareholders, may reasonably expect thai up to that period we 
may have perfeel peace on this line between the hoard and those 
whom w. employ. (Applause.) 

Manufacture of Bffi Si gar. 
I should like to say one word in regard to the growth of beet 
and the manufacture of beet sugar in our district. Il ha 
an encouraging trial, and experts i n the company have now 
acquired 1 site at Maldon of 26 acres lor a beet sue.,,- factory, 
which, with the machinery, is estimated to cost £2 
Three of the directors are the lion E. Strutt, brother and 
steward of Lord Rayleigh, Mr. William Hesler, ami Mr. 
Tristram R. Eve, ol Bedford. Special rates have been quoted 
foi sugar beet, between sViii.ms in the .listrii is and Maldon, 
and a considerabli quantity was disposed of at iSs. pei ton 
io the llollau.li. 1 Anglo-Dutch Milk and Food Co., and the 
quality was s,, satisfactory 1h.1t il is said 20s. per ton has been 
hi: next veai \ crop. 1 hope that if this ., ],, ■,,„ ,,,,,. 
gresses w< may have a largi accession of traffic from the 
manufacture of bcel sugar. You will hav. observed a reference 
to the schemi of the London Outer Circli Railway. A 



l'l UKTAKY 4, H)l I.] 



Till RAILWAY TIMES. 



107 



scheme was presented to Parliament in 1906, and aftei 
the pro I those who opposed the Hill, ii was r< 

by a r 

1 1 

nature, will be offered i" the Bill on the pn >n, and 

all thi' companies havi -. this foolish and 

unnecessary pi iject. I sa) foolish and unnecessary, b< 
in the opinion "1 • s] ■- ri - ii can nevei possibl) | 1 

therefore, it will meet with a similar I 

I ■ capital • ball. 

- rather more than in tin- last half, being estim 
^i.ooo, but there are vai i<>u- matters « hich have been cl 

g, and which we must immediateh take in hand. The 
Funds ' .my, 1 am glad i" say, are all 

in a v. ry strong position. (Appl 

( '1 rri \ 1 Prospi 
And ii' >w f"i 1I1. . urrent hall \ 

know I have said before that it i- not verj wise foi a chairman 
impany like this to prophesy unless he i- sure, hut I 
really believe that in the present state ol affairs, and 1 

x. 1 may prophesy that you will ha ng an. I 

I in -1 place vim will 

'1.' Coronation ol Hi- Majest) Georgi \ rhen you 

will li .1 Agricultural Show at Norwich, and Ili- 

\ I <reigni rs « ho n ill 

. ition will probably prolong their stay in order 

• 1 tit.' Show. Then we shall have a Coronatio 

at the White City, and als.. a Festival I tl the Crystal 

P ce. There will also be the Army manoeuvres ai 

camps for 30,000 men in our district in July, as although the 

- will not come int.» the half-year's accounts the) 

will give us an indication of what tin n iii",. receipts are Iikelj 

in the autumn hall • I hope, 

prospects for this half are likel 1 than for 1 1 1 > - last 

VV< trust, therefore, that the receipts will shov> a 
considerable increase and that the position of tin- railway will 
1 so far as I can judge there is every pros- 
pect of til. - I. I now 
"That lb. 

ment of accounts, now ■ received and adopted!" 

(Loud applause.) 

The Kt. Hon. A. E. Fellowes deputy-chairman) seconded 
the resolution. 

Mr. W. R. Lawson -aid he considered it a privilege to be 
tulate the directors on tin- in ■, 
irs, and also on thi e policy which thee 

iursued in distributing ill earnings. He did 

not think the) could attributi the present fall in the 1 
value of the shares to members of tl 
those persons who \\a i.- called "punters." A- to : 
he appreciated the detailed manner in which the chairman had 
explained them, hut he thought that too much attention had 
been given to the cultivation of the passengei n 
of goods traffic, for the latter traffic represented a much larger 
profit to the shareholders. The Company had run 150,000 more 
miles for passengers and had earn* I ,£"59,000, whilst they had 
run only 105,000 more miles foi goods and is. 6d. 

per train mile against less than 5s. per passenger mile. This 
was a striking proof of the greater im ■ . traffic 

th in paSS< n-;. r traffic. In hi- 1 pinion the hist way to ii 
the passenger traffic was to do a- certain other com pan i. 
done, namely, to link up with other important companies. The 
Central London Company had come to Bishi ■ ; . and 

that seemed to him to be a beginning of a system of linking 
up which would be beneficial to all concerned. The tube 
railways were now seeing- the mistake they made at first, and 
■were linking up with the great trunk lin. - 1 day, 

Lord Claud hinted that th 1 tern and the M< tropolitan 

railways might find capital to 1 ! on line, 

and he (Mr. Lawson) hoped that woul : 

suburban portion ol ■"'' '* was the only way 

in which th( •' back their suburban 

traffic. Witi ' know 

r men on 1. could claim 

what they had paid ? 

Mr. BARH 
some of the traffic from V - uthend. If an at 

ment could be made with the Tilbury Company for at 

. 

.... S 

- 

1 to him •' 
• which had 



■ 

I 1 
remarks ..i Mi . I .. 

of truth in what be said, but 

■ 

I 

had dl a 

illg Wife 4*.. 7.117.! . 

1, mile 

u.| , ;;-. 2-75d., show ii . 
whol. 

I 

■ ■ iunt of want ■ 
th.- difficulty. What Mr. Lav. - 
London 1 linking with the G ■ 

gate was not quite correct. Thi junction would pi 

advantage to travellers b both 1 mpan es, 

■ it would be impossibli 

trains. They would 1 1 . 1 ■• • down b) li 

in the levels. Then • which he had 

not alluded i 1 irther econon • newhat 

ind that was the ■ ■ ■ 'Id be 

. 
operation between the Great Eastern, the G 

• effect 

, but" the delay w..- 
July next, he hope! 

gr< ss of tha 

P 1 Fund. I 

nd if a man left i ! • ■ 
nothing, but with r< 
lent Fund, which was worked mainly by the men, if a 
man left the servii 

1,,. wa . . ind. r the rul« - of that I 

with Mr. Harr in regard to thi ■ 1 impany 

might expect from Southend bv arrangement witl 

1 ..thing further on the 
iuse the din 1 in communication with the 

I 

pleted. As 1 ■ • 

tne board found that the danger- from doing awa) v. 

t( rb .danced b) ii ■ 

reated by the changi rec 
.,,,,1 he did not think that any serious 1 ■ 
would be felt bv thi 

M,. 1 . Brow n - ' f-' st 'rain- should 

certain places to Li' - t instead of to Fenchurcl S 

and also from Goodmayes to London in the mornin. 

The Chairman said "that if the hon. proprietor wouli 
to him on those matters they would receive his careful atl 
ion was then put and carried unanimously. 
On the motion of the Chaikman, seconded by M I 
the directors were authorised I 
revenui - of the company, a sum m 

applied only in reduction ol • rl " in 

the fui ■ 1 istern Railway Providi nl S 

in addition already autl 

the funds of that - 
M 
\ s , I meeting was then held, when I 

- was given to a Bill intn 

■ Northern and oil. 

Mr. \V. 1 
unanimi 

hairmas, in acknowl 

1 it within lb 



1 08 



THE RAILWAY TIMES. 



[February 4, 191 1. 



LONDON. BRIGHTON AND SOUTH COAST RAILWAY. 

The Right Hon. the Earl of Eessborough, C.V.O., C.B., 
presided at the annual general meeting of the shareholders of 
the London, Brighton and South Coast Railway Company, 
held on Wednesday, February 1, at London Bridge Terminus. 
The directors' report and the accompanying accounts, which 
were published in our last issue, were taken as re. id. 

man, in moving the adoption of the two state- 
ments ind thi payments of dividends, said: — 

I .11 1 glad i" report that the expansion of the company's busi- 
ness, ol which we had evidence during the first hall "I tin 

tinned during the period now to be reviewed, and that the 
result ol "in- operations has been a fairly substantial increasi 
lividend upon the ordinary stock whilst making prudent 
: yeat now before us. This is particularly 
ctory, first because ol the national las* by tin- death ol 
Irani which we all suffered, and also having 
regard to tin unfavourable weather during the greater part of 
. tin latter half, w h< n \\ 1 look 
for the most favourable results from passenger traffic. 1 
ventured to predict, some eighteen months ago, that the 
diminution in the number of passengers was arrested and that 
ild look forwai 1 to some increase, but 1 did not think I 
should be abli to meet you now with the pleasant intelli 
that v five million mori passengers 

the vear just expired than in 1009. The substantial increase 
is in third-class traffic, which for the year was 5,126 
numbers and £S4,48S in money, and then- were satisfactory 
increas.- also undei both heads in the first-class. There was, 
howevi g ofi in the second-class traffic in numbers 

and mo both half-years. A pari of thi- i- due to the 

fact that tin' electrical trains arc composed of first and third- 
class , , nd that the number of first and third-class 

trains runnii < London and the coast has been in- 

creased, rhese figures represent the business o-er the whole 
1 if tin- railway. 

Rei ord Results. Achieved by Enterprise. 

The traffii between London and the seaside towns has been 
distinctly good, tin- Brighton and Eastbourne receipts being 
a" on record, and we can only conclude that this result 
to the frequent and accelerated services we have estab- 
lished. The increase of passenger traffic is attributable mainly 
1., the electrical services on the South London Railway, and I 
will deai with these services mori 1 detail presently. Season 
ticket receipts aid all other classes of coaching traffic have 
li of tlie business shows a total gain 
ol £43,755 for the half-year and ol ,t- s 4o st) for the year. 
There is also a satisfactory gain in classes of goods traffic 
derived mainlv, however, from general merchandise, ami 1 am 
o-lad t«> -.0 ilar, is a decrease in cartage expenses due to the 

anient having utilised the company's plant to g 
advantage and hired less. The rental account -how- an in- 

- half-vear ol just ovei £ ;. The steamboats 

ccounl shows .1 decrease in the profit ol £3,516. traffic having 
fallen off both in pi Is, whilst expenses, parti- 

cularh in the Item of fuel, have increased. The continental 
traffic was affected bv the weather conditions and tie total 

:, uii , rop ia la. .in . \\ e have i.l.i. ed tv 
-hips in the Newhaven and ('inn service, and hope that this 
I with favourable train arrangements with the 
Railvvav Administration, will add materially to 
1,1 'route. The French Administration has 
just launched a new turbine 'hip for the Newhaven-Dieppe 
p ;iss , , in d ■■- 1 hopi it will he possible to pi. a- hei 

.ii. summer traffic. The total in- 
is £.s5,245 for tie- half-year and £105.527 
foi tli. year. Taking the items of expenditure very shortly 
ill se. that there i, a small increase of £1,674 in the 
c-nance ..1 way and works account which, put broadly, 
.nnection with the electrifi* ation 
extensions now in hand. The cost el locomotive powei has 
£11,583, ol which about hall may !»' attributed 
•rking" and the other hall n. electrical working. 
,) working the cost ol coal lias increased. The in- 

due to the t... 1 ih.. 1 1:1. 
comparison i> made with a period when th< electrical services 

hi,, I 1. bei n in opei iti 1 month. Carriag 

repair has increas. over £1,000, and traffic 

expenses by £4,669, which is more than accounted I 
... and < lothing. 1 he hi st is the resull 1 
.ill- with the si. ill which were so pleasantly arranged 
conciliation boards. 1 am glad to point to a sub- 
stantial d.i reuse in the items of printing .aid stationery and 
fu. I ,-.n. I largeh due to more strict supervision. 

('..uii. increased by £1,414. The charge in respect 

..:!-. N'cst accident during the half-vear has been 



nearlj .£.5,000, and I am glad to say that the claims in respect 
of that unfortunate accident are disposed of. Compensation 
I., workmen has also been -renter, and, I regret to say that, 
notwithstanding the exercise of the strictest supervision, 
medical and otherwise, with the view to eliminate the chances 
of accident, apparently this item is becoming an ever-increasing 
burden upon us. Compensation would have 1 ut a greater 
charge upon revenue had it not been that the board the year 
before last effected a special insurance against general com- 
pensation risks beyond a fixed sum. 

Crystai Palace Rot 11: Electrification— A Main Line 
Inquiry. 

lli.i.- is i.iih a comparatively .small increase in rates and 
taxes. I should lik<- to mention, although it does not affect 
the figures before you, 1h.1t tin tt. ent in dealing with 

the proposals by the rating authorities of the metropolis on 
the (-iuinqueiini.il revaluation just concluded succeeded not only 
in resisting proposals to raise tie- company's assessments to 
a substantial extent, but in effecting reductions of the values 
lushj in force. That is satisfactory, but apart from assess- 

poundage is going up not only in the metropolis, but 
in practically all tin- districts served by the company, and that 
reasi in the present account. Tile increase 
in iln tvewhaven fiarboui working account is due to more 
dredging. The net result on this side of the account is that 
lei. is ,111 increas,. in the total expenditure "I £27,229. In 
net revenue tin balance brought down has increased by 

a., whilst tie i. ii in., brought in from last half-year 
was greater bv £3,524 than that brought in in the correspond- 
ing period, and tin- final result is to give £26,822 more avail- 
ilil, l..i dividend. Capital expenditure during the half-year 
has not been large, and, as we say in our report, has been 
made mainly upon the extensions of electrical equipment in the 
suburban district, with which I told you in August last we 
had determined to proceed. You will remember the works are 
t.> comprise tli. equipment ..f the railways from a junction at 
Battersea P. irk with the South London Railway to Victoria, 
through Clapham Junction, Balham, Streatham Hill and West 
N'orwood, io the Crystal Palace and back, from there through 
1 iil-e Hill and Duiwich to Peckham Rye, where the South 
London Railway is joined again and access gained to London 
laid-., .in- City station, thus dealing with a district in which 
lb,. Lou. Inn Count) Council has made a network of tramways. 
'file work of equipment is being pushed forward by the con- 
11. ,;i >rs and evervone concerned with the greatest possible 
eiar-\ with a view to electric traction being available for the 
traffic' I- th. Crystal Palace when the Empire Pageant is 
opened there in the early summer, hut apart from that source 
of revenue, which we hope will I.. 1 msiderable, we anticipate 
that elei tri< al working will have a very marked effect upon the 
ordinan business traffic it anything like the results which 
havi been achieved on the South London Railway are repeated 
in ih, district in question. Applause.) Certainly the experi- 
have had on that railway, where nearly the whole of 
the traffic lost to the tramways has been regained in the very 
first year applause ol electrical working, and at the present 
moment the business is still increasing, strengthens us in the 
belief that the extension oi th< electri< il services will bring us a 
considerable increase of our passenger traffic. The electrical 

■ will be fust and third-class only, and alter giving 
the miliar lull consideration, the board has decided that from 
ib- commencement of running to the Crystal Palace second- 
class carriage? shall be withdrawn from the whole of the 
■suburban services. This involves .-, considerable revision of 
fares, mil th. .. will be important alterations of the services 
,1s,,, as el-, trie traction will enable them to be made more 
rapid and frequent, Whilst dealing with this subject it may 
perhaps be useful it I n t.r 1.. some recent rum.. ins tint electrifi- 
cation i- 10 be carried To Brighton. Naturallv the board has 
though! oi it, ^v«\ is seeking advice and making inquiry upon 
the possibility ..f carrying it out, but the conditions ol working 
lino 1. alii, differ ven considerably from those obtaining 
hi .1 suburban service hear, hear- so that much considera- 
tion will he neiess,,,\ before .\m decision cm he arrived at. 
Si rVGESI IONS 1\H Cm n. isms. 

\dverting to the two Rills to be promoted next Session, the 
Chairman said that an important provision in one Bill would 
enable them to mala- an agreement with the Croydon Corpot 
tion to construct a subwav tor public purposes al Nor' 
Junction. The work would be carried out. and the subway 
maintained 1.1 th.- expense of the Corpoi ition hear, hear)— 
and the companv would be bee to carry oul work over it should 
anv railwav improvement necessitate such n step. 1 hey asked 
for an extension of the time for completing works at Sutton 
and o„ the main line authorised in 0..0 and 1903, and they 
sought power 1R0 to raise a million and a hall additional 



l'i BRI \k-i 4. 19I I.] 



THE KUI.WAY TIMES. 



109 



capital, with corresponding borrowing pow< irticu- 

larlv in \iru ..i the electrical en n which thi 

engaged, and which might be undertaken in the future. 1 11 
other Bill was intended to enable the compan • ursior. 

steamships from Brighton, a- well as from Newhavi 
various port- on the Continent, and the board had been en- 
favourabli overtures from Brighton, through 
which place the bulk >>i the business would be done, I 
cecd with the scheme. The ships I ould !><■ 

drawn from the Newhaven and Dieppe Beet, and possibly the 
Newhaven and Caen Beet, and, so fai as regarded th< I 
the administration ol the French State Railways had 
the proposal. 1 1 1 « prospects ol th< , 
x were favourable. They had alread) gained a few 
thousands in the rei 
\| r i 1 V) puty Chairman), seconded th( motion. 

Mr. Long alleged thai l service was conducted 

;„ a i, . ■ way, and asked whethi 

nnanci ild not have been obtained bj an in 

steam servki Hi was glad to hear the chairman saj that the 
vould be less. \i the present time the fares on the 

- Hill, ph.. v 

with the tramway charges. Congratulating the m 
. 11 the improved service to Brighton I ■ hop 

that it would be extendi irni Hi assi rti 

railways, which had made experiments with both 
ctricity, had decided that there was nothing tobi | 

Mr. Roxbi • whether tliis was the time to 

id ^"i back th<- people who had left them, 
hi board upon having at last got something 
out of a local authority, the Croydon Corporation, and com- 
plained that railways were unfairlj assessed as compared with 
companies and firms. The rating authority had power 
e into the books of railw; scertain their 

income. That was not the case with other undei takings. H< 
ted that railway companies should routine themselves 
land, and quoted Lord Inverclyde as 
on with the Steamships Bill of the G.W.R., 
icre was not one of their steamers run at a profit. If 
1 tii Naval Review he hoped thi 

would convey shareholders at cost price. 

Mr. GLIMHBRY, as a Streatham resident, voiced complaints 
. throughout the Streatham and Norwood 
that the suburban steam carriages were very dirty and the 
i^h. 
Mr. Hounsom suggested an improved, all-the-year-round, 
nd Portsmouth, ii 
to prevent people in those towns going always to London in 

desired t<> see use made 
of the motor car to link up the system in remoti 

\ Shareholder asked the din 
of an afternoon service to the Continent. On the South 
1 system such a service was very popular. 
In reply, the Chairman said it was perfectly clear that the 
work done b ins could not be done by steam trains. 

■ other companies had come to ihe conclusion mentioned 
1 Nli-. Long it was curious that the board were receiving 
ir particulars of the electrical running. 
With regard to thi ctrification it was impossible to 

Willi regard to the state of the suburban 
pportunity ol 
trie trains. The first-cl lid then 

w 1 luld be abolished ; but 
dd not be reduced in a hurry. Vi 
third-class had In ■ - London lini 

sion traffic would 
existing ships. Last year the company ran cn< 
Newhaven, and with extended power- the\ hat the 

• -aid be increased at Brighton to 
a thousand. In anticipation of a Naval Review at the 
the <""■ • company h 

the use of I 

The resolution v 

1 to the promotion of the two Parlian 

Rills. 

Scottish Wagon Company.- I 

- that there i- .1 bal 
of which an interim dividend amounting to £7,1 ■ 
in Aug 

mainder a further dividend ol paid, making 

6 per cent, fi 

fund and ab 00 is 

rolling ste«-l< now con-:- 



LONDON, TILBURY AND SOUTHEND RAILWAY. 
1 ith half-yi 

: i. Id on I hui 
Trinitj Square, I ■•-.'.■ 1 I lift I 

nan and 111.0 »ij;. 

The - Mr. II. Cecil New ton) 

■ 

I 11 mrm w. .■ ith loud app 
Ladies and .. 

the report and 

thai being so I will follow our usual 

shortly at the account- now submitted. Turnin. 

account No. 9, on tl ■ 

in th'- report, we have- had an h 1 1, whether of 

■ 
There 

first-cl, I 

the amount, and I was fairly ; - thai 

II until it dawned upon • 

with the " fli • ' wi 1 I.." known at 

Southend. 1 

week or ten days, and during that time w< 1 
class 1 in we have < ver . arrii d 

. 
In p riodical tick I - 

.;.,in-i a nearh simil 
the number of tickets now has 
parcels horses, mails and so on, there is 
while the merchandise and the mineral traffic show an 

Miscellane 
a';;, and in the profit on the working ■ 

is an increa- nditure 

. f( rry boats, but the greater pari 

1 traffic on the ferry. We are carrying forward to 
- i ition fund :• we ald 

ir, and the ■ int we 

£■18,423 incn 
On the expenditun 

we ll ,1 Id go to the abstn • 

the maintenance of wav and work-, then nothing 

to -a- been an ii . ■ I " r S of 

gnals, and - 

(NSTRUi HON \ 

■ is an item for reconstru 
for which we put down.; st a similar sum ii 

alf-year. 1 have explained moi 
ml thai it was 
really, which we introd 

incurring very large capital liability the line 

from Barkini 

money, and we had to make some payment 
behalf of thi 

inally, and ha 

half-year to half- 
have I lend at all for am. 

n time to time, certain i 
that 

this room may n 

• 
mount, which 
i 1 round figun ' t,link . 

we should n 

- 



no 



THE RAILWAY TIMES. 



[February 4, 191 1. 



£^7,000 i" tin account as against £'1,000 which we carried to 

it this time last year. The reasons for thai are, first, that 

we think thai we should bi only doing ih.it which is right, 

seeing that our working stock has been increasing pretty 

nearly from year to yeai now, and we are obliged to increasi il 

\\ . have .ii the present moment a large amount of additional 

stock on order, and we think that we shall not be happy until 

that locomotive depreciation account up to £,60,000, 

and seeing that we could afford it in this half-year, and doing 

always have done, namely, watching the interests of 

rmanent investor rather than the interests ol a few people 

who are in and out with our shares, we thought it a wise and 

proper thing to do to carry thai additii nal £ ''■ to that kind, 

especially, as 1 will mention presently, that it might be possibli 
that this time nexl year, or at the next half-year even, we 
might be inclined not to carry so much to depreciation fund 
as vvi havi done. We are in for a stiffish Parliamentary fight 
I have no doubt this session. Repairs, renewals, carriages and 
wagons show an increase <>l ^1,200. That, again, is for more 
work done. There is nothing upon which we can put our 
hand-, to --how that it ought not to be, and the same remark 
applies to traffic expense's. We now have, as compared with 
the corresponding half-year, Thorpe Hay station opened, and 
a station between Romford and Upminster, and we havi addi- 
tional money to pay to our existing stall in wages under th< 
Conciliation Board's decision which was reported to you the 
half-year befon last. General charges an very much the same ; 

then is nol £4 lifferenoe there. 

Elect ric Trai i n in. 

Electrii traction is one of the most satisfactory items in this 
very satisfactory report. There is a very much larger amount 
oi » rk done. For the miles run the earnings oi the trains on 
oui own road between Campbell Road Junction and Barking 
are about 8|d. per car mile, and the working 
expenses havi been cut down, thanks to our partners the 
District, who are working the traffic— thanks to their 
verj clevei exertions the working expenses have been 
cut down very considerably, and apparently there is yel 
room for a little furthei margin of saving. But tin 
vvholi ol the electric traction abstract shows an increase 
ol -eh ,£.300. Coming hack to the other items in the revenue 
account, there is nothing in the item "law charges." In 
Parliamentan charges there is a decrease ol £.579 simply 
owing to the facl thai we had no Bill of our own this year, 
noi had we any trouble in opposing othei people's Bills, and 
I am glad to say that the amount for compensation was less 

this last time. Rates and taxes are £^2,1 more, but as I 

said before, with the increased receipts on tin other side ol 
the account il is impossible for us to make any protest or to 
say that according to the method of rating railways at the 
present nun, although legal, ii is very unjust, still, according 
to that method we cannot complain at having to pay this 
ini n asi d amount under rales and taxes. We have one ol tin 
ablest rating surveyors in the railway world who acts for 
us. and vvi never pass either an increased assessment, or, in 

issessment of any sort, nor do we pass poundage rates 

sort without it being considered and, il necessary, being 
opposed. On other matters I have nothing to say to you at 
all fin n suit i- thai wi 1 arry to ni 1 revi nui act •tint, alter 
making these disposals— the large amounts to locomotives, 
carriagi and wagons and to reconstruction ol stations account 

— we carry forward 1 1 revenue .1 balance ol £7152,902, 

which is an advanc. ol £ 1,441, as compared with the corres 
ponding half-yi ar. 

Nil RFVENL'l 

Coming to the in 1 revenui aot ount, the only thing notii 1 able 

there is ih. renl ol I'Ynchurch Street Station, which shows an 

in, ,, ., Probably you may recollect that every two 

years undei our agreement with the Great Eastern we havi 

t 1.,,. 1 isi ol £7500 until we gel to the maximum 

figun of, 1 think it is, £10,500. \\ the present time I think 

wi are paying £9.500, so \v< charge £250 in one-hall of the 

1 which we had to pay tin increase, and the otter £250 

will comi in the [ul\ account. Coming down from the net 

revenue account vv< find thai vvi havi .1 balance available foi 

dividend of £120,735, which results in our being able to pay, 

.,,„] we 1.1 omm. nd v'ou topav , the usual interest upon our prefer- 

| , a , u l to pax at the rate ol £* 10s. percent, pei annum 

, [man stock as against £s 5 s. this time If. si year 

Turning for a nn.ni.nl to thi capital account, No. 5, you will 

, ol the capital 1 \p< nditure for thi hah year 

and we estimate that we shall 

to spend in this half voir £45.°°° fl,r lancl aml *'< , ' 

for working stock and steamboats that is for 



stock we have on order — and we have at the moment a balance 
on our capital, which appears in account No. 8, ,£,'00,000 to do 
it with. We require additional capital for general purposes, 
but that question will be dealt with at the Wharncliffe meeting 
wlnn we come to consider the Bill. 1 do not know that there- 
is any thing more that I have got to say upon the accounts. 
Proposed Purchase b\ hie Mini. and Company. 

Before 1 sit down you may, perhaps, expect me to say some- 
thing in regard to a statement which all of you, or at any 
rale, some of you, have probably seen in the morning papers. 
You will have seen thai it is announced that we have come to 
a provisional agreement with the Midland Railway Company, 
foi the taking over of the whole of this undertaking. The 
terms are, il approved not only by you, but by Parliament, 
that the debenture stock and the preference stock should 
... vi the same amount oi Midland stock in value to make 
up the 4 per cent, which tln-v are at the present time receiving 
from the Tilbury Company. With regard to the ordinary- 
stock, every £100 of ["ilbury stock is to be exchanged for 
X'-4" of Midland -Y per cent, consolidated preference stock. 
Ilia!, in oilnr words, means that it is a perpetual b per cent. 
interest for the shareholders ol the Tilbury Company. 1 he 
agreement was only conn to yesterday afternoon. The two 
companies had special hoard meetings in their respective board- 
rooms, and the provisional agreement has been approved by 
the hoards ol both companies. The operation will be that 
when details are mori closely agreed than they are at the 
pros, ni time— principles only having been up to this time 
set :led— , 1 special meeting will be called of the shareholders ol 
each company to approve or to disapprove the provisional 
agreement, and il both companies approve, as far as the- share- 
holders am concerned, the Midland Company will be under 
obligation to go in the next Session of Parliament for a Bill 
authorising this, and I think, without prophesying much, 
thai you will come at the special meeting to the same decision 
that we have already come to, namely, that the proposed 
agreement is a very excellent one for the shareholders of the 
Tilbury Company. (Applause.) 1 am not prepared to discuss 
the mailer to-day, but 1 thought it was due to ynu that I 
should say what I have said. 1 now beg to move r he first 
resolution, namely : — " That the report of the directors and 
statement of accounts for the halt-year ended December 31st, 
1910, which have been circulated amongst the proprietors, and 
are now presented, be received and adopted." 

Mr. J. Rons Hoare (deputy chairman) seconded the motion. 

Mr. GoDSAI remarked that in his opinion the directors had 
scarcely done justice to the shareholders. There was a wide- 
spread feeling ol disappointment in consequence of the divi- 
dend not having been largely increased. Personally he antici- 
pated an extra 1 pei cent., because they had presented to them 
that day the best accounts which they had ever had in the 
history ol the company. Ii appeared to him that the board 
had written ofl too much for the various items, such as recon- 
struction ol stations and buildings, and for rolling' stock. Had 
they not done so they would have been easily aide to have 
increased the dividend. He was not a Socialist, and he hoped 
to lie able to provide lor his own wife and children, and, there- 
lore, he did not ask the Tilbury Company to do it for him. He 
ci uld nol hut consider that the writing off of an amount equal 
to £,21,000 was excessive. lie would like to know what 
arrangements, il any, the hoard had made regarding the land- 
ing siage at Tilbury, as it would interest the shareholders to 
know what was likely to be done by the Port of London 
Authority. He was disappointed that the results of the working 
of the Whitechapel and How lini were not better, because with 
the luge through traffic to Southend from the District line 
he would have thought the Whitechapel and Bow would have 
been crediled vviih more than il was at the present time. As 
to the interesting statement which had been made by the 
chairman regarding the purchase of the Tilbury line by the 
Midland Company, he was delighted to hear it, because the 
Midland Company was looked upon as the most popular line 
in England with manufacturers, therefore, the igreement with 
thi Midland Company ought to be adopted by Parliament, 
and he could nol see ih.it there would he any opposition to the 

Mr. R. Y via 1 > AV11 1 1 wis did not shan the last shareholder's 
regret that the die idem I was not a larger one, because the ques- 
tion of depreciation and selling aside of adequate sums for 
future contingencies was a matter which must ilways be con- 
sidered, and shareholders would be well advised in leaving 
the matter in the hands of the hoard, ["he tilbury line occu- 
pied a position which was somewhat different from tli.it of 
am other line in the kingdom. It served, to a large extent, 



Febru \ky 4, i'/i 1 



Till KMI.W \Y TIMI S. 



1 1 i 



the l<\ 1 fhanies and the adjoining districts, and 

largi developments ili.it might take plac< 

• mi th( I'hames especially the northern^de, during the next 

few years it was most desirable that tlfc^Fuip.un should hav< 

capital in met 1 the \ ai ious 1 alls that 

undoubted^) would be madi up 

P01 i I x>ndon. Iliiir \\ as n< • doubl bui 
that thi P01 London would rapidl) develop L"he question 

,,1 the land 1 - I ome« ithin the imme- 

diati purview "I this company. No doubl the) had all seen in 
the papers about the \ I dock extension on the 

th P Vuthorit) , and as ■■■ 
could sa> that provision « as to b 

I ilbury. It was .1 matter which 
hav< len d, 

Mr. \\ . Sharpi said he could nol understand 01 ap| 
the spi the lasl spi aki r. Phi largi sum set apart 

foi reserves seemed to him to suggest that thi directors had nol 
)un asidi a sufficient amount during the lasl few years. He 
thought 1 pei cent, more might well have bi n declared, foi 
il thai had bei n done the shares would have gone up to al li asl 
and perhaps to ^150, in which event, instead ol their 
getting ^240 for their ^ 1 irj stock, the) could have 

asked £'260. (Hear, hear.) He would liki to ask whether the 
accounts had been prepared under pressure from the Midland 
Railway Company. 

Ch.mkman : No. I will answer that question .1 
I'he balance-sheel and accounts were prepared befon we came 
standing with the Midland Railway. (Hear, hear.) 
VIr. Shari'i remarked thai il was ver) satisfactor) to 
that. Hi did nol propose to move an) resolution, bul il 
d to him thai when the special resolution cam.- before the 
proprietors, the provisional agreement would have to '■ 
seriously deall with. 

Mr. Greg said thai the most important matter which 
had to consider al thai meeting was the Bill to confei further 
powers upon til. railwa) for the electrification of the line. 

me into thai room, however, a new 
had in . n sprung upon them, namely, the taking over of the 
undertaking b) the Midland Company. This latter was of far 
, and, thei efoi e, he did nol quit see « hat 
good there was in discussing the question ol electrification. 

The Chairman pointed out thai Mr. Greg was out of order. 
A further meeting would have to 1"- held to consider the proposal 
for the purchase of the undertaking by the Midland Railway 
Company. 

Mr. Godsai asked whether, under the scheme, the Midland 
1 1 \ would take the Tilbury Company's reserves. 

The Chairman, in reply to various questions and criticisms, 
agreed with Mr. Godsai that it would »ar) to place 

the same amount to di prei iation ol locomotivi - 1 

-. etc., had they the same amount ol stock to maintain 
as in the past. It that were so, he admitted that it would be 
very desirable to pay a little more dividend instead of carrying 
forward the amount they did to reserve. But they had been 
buying carriage stock pretty nearl) ever) year, .md al the 
time they had between 50 and 60 carriages on ordei 
which would have to be paid for. He thought it would be 
admitted that the time had conn w'hen they oughl to 
more than they had done previously to the depreciation fund, 
but whi tin r it should be ^76,ooo additional, as appeared in 
th,' a. 1 .unit-, 01 n, it, depended, to a certain extent, upon the 
circumstances of the day. There had been deposited in P 
m. m a Bil! foi a line to be known .,, the Greater London. 
That was a lino which commenced at the junction with the 
South Western, which travelled round the North of London, 
having a junction with ever) other line running into London, 
and which eventually came down to Barking, and then was 
continued down to thi' Victoria and Albert Docks. That scheme 
had been deposited in Parliament three times, and 
In- knew, it~ promoters had made an improvement this time 
upon the old scheme. This scheme was seriously put forward 
for this coming session, and ii li tted that tin- 1 

construction would 1" thi trifli ol 7 millions. I 
still had hop.- 1 I gi tting the Bill approved in Parliament, but 
he fell -i:p that the line would never be made, and 
equalh certain that it would never, il made, retut 
on thi capital outlay. That Rill had to be ith-and- 

nail, and tin opposition was vital to the exis I ilbury 

Company. It would 1" tnd expensive opposition, 

and therefore the directors had considered it the right tiling to 
tra provision in this half-year. 
\ Shareholder asked if the chairman would kindl) explain 
why they should trouble to put aside this extra mi 



thai the) had sold themselves 1.. th. Midland. II 

ic) ne.d trouble th. mselves aboul it ; I. 1 the M 
fight it. 

1 In- ( u hum ^., explaim d that th. 1 
to tin- 1. ..is, m ,,1 ||„. si,,,- ,\, .,,„| also 

to an - I,, ni. Where would the) he if I'.u li 

ilgamation with thi 
land? H r.) As to the Ian.: 1 

knew as mui h about it , 

I wlie,, the I 
Hi ,1 b) tin- P 

Was a vei .,n, I 

although In- would probabl) nol - 

delighted t.> find that th.. Authority were taking the U.I.I . 

the) win- t,, dev< li ■ what 

it ought to I. , and what it would t» . \\ 

earnings ol the Whitechapel and Bow line, 

ing in the net revenue was ., !,,,i 

p el ..ii on thi 
line was a ver) \|»ihiv. amusement. I: .miles 

I..11-, and on 1 I 1 , 

tramways were now running, for the maintenance of which the 
I sharehnldi 1 s had to pa) as ratep 

expected thai the Whitechapel and H,.w per te would ; 
dividend, hut i' connected this company's line with the l> 
and th. Mett ci showed w hat a public 

want it was fulfilling, and ~, far as the Tilbury line w. 
■ . med thi y wen- getting the '>• n< fit 1 

I n solution was then put and rani, d >: - 
The < 'il 111 ,'■■; illow in- dl\ 

il. ~s in, ...ii.- :,,\ 1 1. , the half-i D 

I., diei lar< d, nam. I\ ; I |..,ii / 1 
stock a1 the rati ol /, 1 pei cent, per annum ; up 
preference stock 11,04, ,,t the rate of ^4 pei innum ; 

£2,1 1 1,840 < onsolidati d < ck, at the 1 

mum, and made payable 

1 a I I ." 

Mr. II. I, and th, resolution w 

< >n thi ( II MRMAN, - Mil lOARI . 

til.- retiring direct! .is were re-< l< 
Speciai Mi 

11 mi dm. 11 I ing • 'I tie propi i. tOI s was then 

held in,- the purpose oi considering and approving a Hill now 
P dealing w ith the elei • line, 

li,. Chairman said thai it was optional ..,1 their j 

with any powers which might Ik- included in the 

Hill if it became an Act. In tl any breakdown in 

■ iiiai ions with ihe Midland Railway Company the) w-.uld 

require more capital. The) were in debl ■ from 

and if they wii. going on in themselvi 
would : , sid< r ih.- questii >n as to v 

they should not work the line, at any rate to Tilbui 

1 ii pie. of, 01 in addition t... steam working 
eai s 1,1 w. nk the whole line b) ■ 

1, l.ut th, \ had 11.. powi I ■ .11 the 

line except at Barking, where they were already workii . 
he would honestly tell them thai it was in \ ;• 
ol thi: 1.0 11 I ondon Hill which was seeking power to work 
cally to Tilbury, that the directors put in clauses giving 
them power 0. erect two pow 1 m their line. They 

were also seeking powers to issue bearer « in 
Tin- Ch hrm w d ncluded by moving the follow in. 

It the following Hill now befori P a. I the 

same is hereby approved 
ma) 1«- sani 

ind Si uili. nd Railway < 
working 1 ,1 th. ir railwa) s and 

Mi . li lution. 

II. ( '11 hrm w replj ing to faith. 1 

■ ould not have 1.. rijise am fui 

ii pai ; that would be I • 
The w hole of the r< serves « 
I through. 

■ 
questii in the t '11 vir.m \\ - 
through w Tth the Midlan 1 
iv iii Parli 

V vote of 



THE RAILWAY TIMES. 



[February 4. 191 1. 



CENTRAL LONDON RAILWAY. 

The 51st ordinary general meeting of proprietors oi the 
( 1 ntral London Railwaj Company was held on Thursday at the 
Holbom Restaurant, W.C., Sir Henry Oakley (chairman of the 
< ompany) presiding. 

The Secretary (Mr. R. O. Graham), having read the notice 
, onvening the meeting, 

The Chairman said : With your permission, 1 think we will 
do as we usually do, and that is, go through the accounts 
rally, and then we shall be happy to hear am observa- 
tions. So far as the capital is concerned there is practically no 
alteration in the powers, nor have we received any amount on 
capita] account during thi I isl half-year. We have spent in the 
half-vear £2,300 on the construction .4 the high level subway to 
conned tla' City and South London Railway with our own 
subwaj ai the Bank. That is ., joint subway, the cost of which 
en divided equally between the two companies, and it was 
, mis: mi. ted at the special desire of the City authorities, in ordei 
to avoid the inconvenience and risk inseparable from crossing 
the road at the end of Lombard Street We believe that it will 
be a good thins I" 1 ' l, " t1 ' our companies, tending, as it will 
do, to promote the exchange of through traffic. The works 

ai 1I1. Liver] I Street extension have been begun, and we 

paid in the half-year £7,031. The works are going- on 
ver\ satisfactorily, hut," to our anxious mind, somewhat slowly ; 
still', that is due to the- unusual circumstance that the station area 
will l.e underground. It will be a slow work, but the mo sve 
s . oi it, and the more we watch the great traffic which arises 
and .11. Is al Liverpool Street Station, the more we are satisfied 
that th.re will b. a -reat future to be derived from the con- 
nection with it. Then there are two small sums which I need 
not hollar you with, amounting in the whole to about £1,300. 
That leaves us in the condition of being indebted to capital 

to the amount of £125. We do not owe that to the outside 

public, because we utilise the money we leu.- iii hand as a 
reserv, largelv for that purpose. We have powers available 
foi £514,000 '" ralS( capital which we shall require before 
long in order lo complete the works ..I the subway and the 
railway. LTiere is no alteration in the working stock, and the 
estimate with regard to further particulars in capital account 
is shown in account No. 7, and ibis estimate simple provides 
lor the completion ol the Liverpool Street Station, with the 
other small work. With regard to revenue account, vvc have 

I during the half-year 19,995,960 pass, ngers •* 1 

little e 1 . mil.s ot line. We practically run on that lim 
t, dns a dav- 400 in each direction— and our fares vary, bekig 
,,| al and al. During the last half-year we have carried 
52495 fewer jd. passengers than we did in the corresponding 

OUt of a total ol 2,O<)8,OO0 In respect tO tin ■ 

passengers, we have lost 411,000 out ol a total of 6,2:53,000 ; 
but .mi lb. other hand, Wi have increased the number ot our 

id passengers bv 505, making the total number carried al 

this pri. e .,573, Then we obtained 11 ',.00,, more passengi rs 

I from' the Exhibition. We have increased thi sundn 

passengers that is thi booked tickets, to the number .4 44. , 

and we have gained in through passengers the very satisfactory 
number of 630,000. Now, that figure in itself is very encoui ig- 
i n p but it lias just a dash "1 disappointment in it, lot the 
receipt per passenger is less than the amount \vi 
have received in previous years. It means that the pumu 

iate and utilise the conveniences now afforded b\ tne 

through 1 king between our own line ami all the other tube 

lines ' The tube compan'u 3 ere as satisfied with thi _n suit 01 
tl i arrangement as w. are. lb.- Fares are divided in agreed 
proportions, s,, that th. companies feel that they are ..or' 
dealt with in the division. There is no competition other than 
that offeree! by other modes of conveyance, ami the pu 4 
thev appreciate the accommodation we give by the numbers who 
travel Therefore, on lb. whole, we think the hall years w -irk- 
ing of the passengei traffic has been satisfactory and is en- 
couraging. Wean also bound to recognise that the mcessan 
competition of the 1 md all other vehicles 

for hire on the surface is increasing, and ,1 has increased ven 
:n.,. erialh within the las, nvo years. Wi 1, ave an admira ble 
opportunity of watching thai from our ofhees at Oxford Circus 
: . ds crowded with omnibuses; in but. mal ■•"-. 



, ulation ., peare( , , us, 1,.,. thi mi 'be. " 

.. th, .oad is a. leas equal o th, number _o 
, rriar?es we are running on our trains all da> bng so tha 

.nistiedin.heveartha, has passed with regard 

to our labours, we are bj no means devoid ol anxiety as to 
the future consequences ol competition. The gross M 
>ha< wehav< received is £1 « £^24 ™" t ha, in 

^vnding period, notwithstanding that a ery largi 

nd also a 
'" havl io pa) for 



.■ 1 xp.llses. ,b 

for tin first tin 



the amount w 1 



rates and taxes. But there is a bright spot in connection with 
that onerous obligation, as you will know, probable, that an 
assessment once made lasts for five years, the fifth year of our 
assessment being last year. We then took the opp'ortunity of 
appealing against the assessment along the whole of our line. 
Let me say, in justice to the various parishes and boroughs, 
that they met us very fairly, and discussed our claim and our 
rights, maintaining their own as well as thev could, we on 
our part doing the same. I must say that the result is due 
practically to the skill and attention of the experts we retained, 
and the assessments have been so materially reduced that we 
expect a probable less payment of something like £8,000 to 
£10,000 a year. (Hear, hear.) On the subject of general 
expenses there is not much to he said. There is ., lecreasi ol 
£795 in the total, and rates and taxes form part of it. 'flier, 
is a decrease ,4 about £300 in maintenance, and ol £3 , in 
repairs of cars and lifts, £122 in traffic expenses, .,,,.! of £149 
in general charges. There is no material feature added, and 
practically nothing saved. There is a little increase in the law 
charges, but the whole total is only £40". so that there is 
r.alh nothing to explain. As regards the traffic, you may bi 
interested to know that we carried five passengers tor every car 
mile run, and our average receipt per passenger is 1 |d. This is 
not so good ,-r so hopeful as we thought would happen when 
we started the railway, but on the other hand, the number 
travelling is very much larger than we estimated in those daj - 
and the wonderful expansion, to which I have referred in thesi 
through passengers, shows that the public generalh ..re appre- 
ciating the underground lines, as we work cordially with the 
Electric Railway Company and they with us. 1 hope, seeing the 
large development in that traffic and the increase in the number 
of passengers per car mile, that this indicates that each train i~ 
becoming better filled. Treating that as a summary of our 
working <..M\ we find ourselves at the fi^<\ of the half-year 
bringing £40,000 into the- balance from last time, and with 
a sum ol ,£.114,371 to be disposed of. The dividend on the 
ordinary stock at the sun, rate as last year, namely, ; per 
cent, per annum, will absorb ,£27,620; the deterred ordinary 
stock will take £1 [,453, and the preferred ordinarj stock for the 
v.. 11 wili also take the same amount. This will make £50,720 
to be divisible after to-day. As to the reserve fund, the board 
recommend you to add £10,00.1 1., ii. We an all aware that 
some proprietors think that is too much, hut having given the 
subject their gravest consideration, and having regard to the 
gradual necessity |,,,- providing tor the replacement ol the road 
aid ot the machinery upon which our very traffic depends, the 
board think vou will, on consideration, unhesitatingly sanction 
their so dealing with that sum, and we are carrying forward 
£.33,01 10. 

I have been ask. d by some proprietors to let you 
know to-da\ what position we are in with regard to the light- 
ing ot the tunnel .11 el ol th, carriages In ee. ol am difficulty. 
I mav sai that thi board considered that subject some time ago, 
and it was gone carefulh into L\ on, engineers and other 
officers, and we then established in each carriage an automatic 
s\stem,l.\ which, supposing that from .no • lus, th, electricity 
derived from the works at Shepherd's Hush should tail, each 
carriage can be separateh lighted, and in addition, the tunnel 
itself < an be lighted so that people can get out ol tb. carriages 
.md walk to the nearest station. There has always been a 
pathw a\ in I he tunnel lor that pi 11 pose, so that under the pies, „t 
arrangements passengers on the line ma\ always consider 
themselves to be safe. The same remark applies to the lifts. 
In this respect, provision has been made, should the electric 
powei fail, b\ which passengers can be taken up or down by 
in.,, ris of hand machinery. Therefore, I think you will agre, 
that every attention is being paid to th, safet) ol passengers 
whom we carry on our line-. Thi work at Liverpool Street 
.m. I Broad Street stations i~ going on very well indeed. I have 
seen it remarked in the press thai we proposed providing move- 
able staircases at I ivi 1 pool Street, and there will be also a lift, 
so that passengers can use which thev choose. With regard 
to the Hill before Parliament, the Great Western. I mav nil 
vou have a line which is authorised but not yet begun, from 
Ealing to Shepherd's Bush, and there would be a connection 
between that line .m.\ ours bv means of a subway, but ex|>eri- 
ence has taught us that the public do not like subways, and 
much prefer a through connection. After communicating with 
the Great Western Company, thev agreed with that view, and 
wer( willing thai we should make a connection with them, and 
,b,\ in their turn, would give us access along their line to 
West Ealing o thai passengers between Eahng and country 
between which at present is not yet full bv am mean 
vet developed -an tret a through train direct to the ( itv. To 
enable this effectiveh to be done, the (, real Western w 11 agn 

to'orovide elcctri nmunication along their line suitabl, to 

.moose so that trains can run continuously from end to 



l'l BRUARY 4. I'lll.] 



THE K\llA\ \V TIMES. 



113 



end in the same waj as the) da along "m own line. We have 

studied 1 Ik.- subject .1-. care ful 1 as possibli in anticipation ol the 

n.iiVi. which maj arise, and having regard to die fad thai th< 

.ill round is becoming developed, it will be 

lents it thej can reach the ("in in as 
-tr.iii^lu .1 line as it is possible t" make; it will also be an 
advantage to the shopkeepers and those trading in the district, 
We think then is very little risk of an) loss 01 troubli in con- 
insti im tion ol su< hai 1 Oui total 

•in £100,000 o, and in ismu< h as 

it will • hing to run through our junction to I 

. the Great Western havt greed to bear all expenses in 
deration ol their receiving mileage proportion of thi fare, 
we an satisfied thai it will be .1 good thing for us; and, there- 
to deposit the Bill and to ask 
your cordial assenl to promote it in the coming Session. There 
is a question that lias not yet been mentioned, but which _ the 
.im lit.-- should be made known to you. I 

ween us and the authoritii s of the Cil ' 

with regard to the land tax ol our undertaking in the City, 
noi have we made an) pra\ isi 
ig. 1 will nol sa> anything on the subject as the matter 
is now sub judice. I ntioned the matter in order that 

you may know that there is such a claim pendi 
will I"- better pleased to know all we have to tell you, and your 
auditors will feel d in that th< 5 hai ■ 

duty by requesting us to bring 

n ol the report and accounts and 
tion of the dividends as recomnv 
In replv to a question with regard to the n a rve, the - 
il was the dtut) ol the dii 
; the accounts bi fore the shan 
and make tin endations with regard to the 1 

fund and earn forward, and it was for the shareholders to 
adopt the recommendation or not as they deemed lit. 

I ' thi motion ol Lord RaTHMi i 
Si V DWVN, Sir II Oak! I Knollys and thi II' 

V II Mills wen re-elected directors ol the company, and Mr. 
W. H. Peat was re-appointed auditor. 

The proceedings tli< n terminated. 

\ 1 i • meel ing was then h the resolu- 

npowering thi to construct the line to Ealing, 

. i. was pri ip l< I and approved. 

ALEXANDRA (NEWPORT AND SOUTH WALES) DOCKS AND 
RAILWAY. 
The report for the half-year ended 1' 
that the ipts amounted to £139,999, an incn 

■ impared with the corn - 1909. 

Tin- w< t cent. 

of the gross si 59.93 pei cent, in the same 

periixl of 1909. Tl ol revenue, £58,1 to 

with ^ |une, oiio. gave a total 

net revenue of £66,695. The amount chargeabli 

le account, which included rent chai >l and 

interest on d< 1 k, was £21,556, which left a balance 

for appr< I £45,139. This enables the directors to 

recommend the payment of the full dividends for r 
months at thi cent, per annum on the consoli- 

■ ent. per annum on 
consolidated stock t ing a bal 1 

£12.4X4. Out of this sum the directors have dei ided to place 
to the credit of expenditure on new works and 

ird to next account. In the corresponding 
period net revenue, including the balance brought 

forward from June of that year, amounted I 

■tailed 
£21, l{ appropriation of £ 

for appropriation in the 
half-\. I as compared with the last hall 

£6,064. In the half-year £:-. capital 

account, of which eel o( works 

in progress— viz., the new lock entrano 1 dock 

extension, etc The capital expenditure on works in pri 
and unproductive during the period under review, amounted to 

[Tie total receipts fron 
showed an increase of £1 8 ; minerals, merchandise, live stock, 
and truck hire, a decrease of £1,258; dock receipts showed an 

Institution of Civil Engineers. V ordinal ing on 

iino. Mr. W. [. Wilgus, M.Inst.C.l II read 

Rivi 1 Tunnel bet* I I Michi- 
gan ai d Wi Isoi I ila." 



CITY AND SOUTH LONDON RAILWAY COMPANY. 
The Tuesday, J 

al thi "Mm. mpany, 71, 1 

Hon. < B. S K.C., M.P. (cl 1 nan ol 

ding. 
Si . ri 1 \r\ (Mr. W. I-'. Knight), havii . 

th< Chairman said that the h 
had finished bi tter than i 

• 
ol £628 ; and 

had a net in. 

h) £637, so that 1: 

a sum increased '•;. £1, 

I charges and on the amount brought for- 
ward from the Jan.- account, they were well abli 
same dividend — that is, at the rate ol £1 15s. 
■ ir, while thi 

• 
■ . illy i» tiii than they wei 

had run more trains. , an ied m ■ 

: 1 in and more money pei 
• 5S per train mile on locomi itl\ i ■ 
other hand, they had taken slightly l< 
and had spent rather mo 
and also ral ■ tffi >ei train mil 

: 

their through bookings with under- 

all showed increases, which meant thai tl 
. irrj ing .1 lai gei numbi 1 
ow n Ii cal fares, owing to 1 he ni 

e-s than the combined local fares. B 

>i these incre is th the 

Mi tpolitan Railway, and alth 

changed with them was not very large, thi it this 

growing 1' be still fui -;.»t the 

new low-level subwa) al Moorgal sanctioned by Parliament in 
lui.i which would maki closer the connei 
. in, ,n sj ste n and thi ii w n, ["hi 

wages. 'The wages it m was, 
not too mui li to give foi conti ntmenl amongsl 
from such improved conditions ol lifi as they 
confer upon them under the concili; >l last 

summit. \- 

in 1 er ton, anil an incn 

1 mileage run during the 
i esuits wen signs that, against unremitting 

well holding their own. 

( loMPF.TITION INIl Pi iSSIBl E EXTEN - 

In matters relating to competition, it bell who 

erprises to look well ahead and take 
all iiiv, • ... ration. I hi 

new uad« rground lines, - 

j .' 'The public was according!) 
that improvement 1 I, and there could 

■ 

.eK against theii . 
iding his ■ 
1 laximum limits, ought m 

tins. 'This qi 

trains could not be accompli 

in siding 

■ 
• 
by enabling them 

part of the day, whi< 
. partly from 

... 
Thi 

Clapham Common. This 

further front the cr 

,nd that, lik 









iH 



THE RAILWAY TIMES. 



[February 4, 1911. 



purposes the) would not go without the powerful support which 
municipal advo< ac} alone • ould supply. 

El.-VAIA At ION OF IOIO. 

Since their last meeting they had received the last of the 
decisions ol rating authorities in pursuance oi the Metropolitan 
quinquennial re-valuation of 1910. For himself he might say 
that he knew no reason why such re-valuation should in justice 
1 assessment b\ a single shilling. On the 
contrary he knew ol some reasons which would justify exemp- 
tions, o"r other preferential concessions to undertakings such as 
theirs. For nol onlv did they render great services to the con- 
ce and health of the humbler classes of the public, but 
the} wen subjected to competition from undertakings either 
. , out of rates, 01 else free as the motor omnibuses 
„, .,,. ,,-<„,, having to pay, as thev did, rates on the roads that 
they used. Their assessment had, in fact, been increase I b} 
about ,6>>o a vear. And it was not without struggles, mon 01 
[ess severe, thai the} escaped a ereatei increase. For this result, 
ho supposed thev must be thankful. 

Prospect 01 tin Next Half-year. 

\- regards other prospe< ts of the current half-yeai . 
he would nol be thought too sanguine if he anticipated con 
sidenable advantage to their traffic from the attractions of the 
coming Pageant of Empire at the Crystal Palace 1 he 
Brighton Railwa\ were expected to get their Crystal rait..' 
line electrified by the middle of Mav. and if, as \\ a 
excursion train-." were run from all parts of England, as the} 
were in 1008, thev would surely come in for a large share ol 
the work of carrying provincial pilgrims bound for the Crystal 
Palace to London Bridge Station from any of the three northern 
termini as well as from the main other points from which 
London Bridge Station was most directly accessible by then- 
line) \m,l if they might judge from the experience ol [902 the 
great national solemnity of the Coronation, with the ceremonies 
to Follow it. would cause them to be unusually busy. 

The new half-year had started with a continuation ol the sub- 
stantial weekly increases which marked the close ol 1010; and 
thev had, therefore, the right to ground hopeful anticipation, to 
thai est, nt on realised results. 

rhi formal resolution was then moved and seconded, and 
carried unanimously. The resolutions sanctioning payment ol 
dividends, the re-election ol directors and auditors having been 
1 nrrii d, tha iks to the dire, tors .m,l staff closed the pro, eedings. 

NORTH EASTERN RAILWAY. 

I "he half-yearly ai counts to December 31, 1910, were issued 
on Thursday. Our usual analysis follows:— 

C \1'I 1AL. 

I otal expenditure 

Total re, i ipts (allocated as follows) 

1 inltn.in stock 

Preferenc guai anteed purchase 

st0C 1<S 

1 (ebenture stock 

l.o.ms 

I 'remiums . . 

w 1 jt 1 [,n tlepool account 

Balance to debit of capital account .. ■ • ,,102,137 

fhe expenditure during the half-year amounted to £30 
— viz.. £1 77,722 on lines open for traffic, £27,043 on hues in 
course oi construction, £55,000 on Hull Joint Dock (North 
I a tern proportion), £956 on Axholme Joint Railway, and 
£50,000 011 workinp stock, less a credit of £3,000 on South 
Yorkshire Joint Railways Estimated further expenditure 

In the current half-year, £461, in subsequent half- 
years, £1,08 o total. £1,550,000. Capital powers and 

< if li,i ,,\ ailable assets, £5,2 1 5,6 ■;, 1 
Revj xue. 

I he revenue : unt shows the receipts for the hall yeai 

ended December 51 to have been as follow :— 







£82 


,994.546 






7' 


>,5° 2 


,409 


;1 


,771.137 








2 1 


,560,910 








[8 


,173,090 

1 ,700 

,931.406 

1,4,100 









■.! engei First-i lass 
Third-i lass 

I ', 1 iodii .,1 t ]< kets 
1 ,■ , , 1 liors, . , arriages, et, 
Mail ; . . 
M, n handisi (less. 1 oil. and di I 

ock . . 
Minerals 

1 1 1 1. hi, ous re, , 
I ransfer fees 
■ ■ - mi, 

demurrage of wag. 



£103,955 

r, 2 7 i '>534 

1 59,841 

281,8] i 

; 1,187 

1,024,709 

, i> ,1 

99 

96,259 



14,208 



[909 
£102,31 



54,071 

1,70*0 17 

94.6 ;| 

684 

1 10,577 



rcount for the 


same pern 


£620,713 .. 


'.>>4i,44o 


891,07; 


807,550 


545,265 .. 


4*2,900 


953,5°- • • 


934.584 


108,100 


108,197 


17,071, .. 


16,780 


16,690 


17,222 


5.I7 1 •• 


5,009 


1,000 


2,500 


12,350 ,. 


13,436 


16,523 .. 


14,009 


241,014 .. 


241,220 


6,137 . . 


6,241 



was as follows : — 

Maintenance of way, works, etc. 

Locomotive power 

Carriage and wagon repairs 

Traffic expenses 

General charges 

Stationary engines, inclines, etc. 

Electric train working 

Law charges 

Parliamentary expenses 

Compensation — Personal injury . 

,, Damage to j I 

Rates and taxes 
Government duty 

Total expenditure .. .. £3,436,213 .. £3,351,103 

The net revenue for the half-year, and the manner of its 
disbursement is shown hereunder : — 

Balance from last half-year . . £85,470 . . £80,400 

Net earnings .. .. .. 2,099,002 .. 2,092,632 

Sundry credits . . . . . . 2,349 . . 2,383 

Total 

Prior charges 

General interest account .. 

Special reserve- fund 

General reserve fund 

1 'reference dividends 

Dividend on N.E. Consols 

Balance to next half-year.. 

Total £2,186,887 ■• £2,175,415 

At the rate of 7 per cent, per annum. t At the rate of 7 per ceni per annum. 

The receipts for the past half-year show an increase of 

' oi , |o, the expenditure an increase of £'85,110, and the net 

earnings an increase of £6,430. The ratio of expenditure to 

receipts is 62.07 P er cent., in comparison with 61.55 P er cen t- 

Traffic, i. k . 

Half-year ending December 31. 1910. io<>o. 

Passengers— First-class .. .. 033,020 .. 042,441 

„ Third-class .. .. 31,641,833 .. 50,730,735 



£2,186,887 


■ f; 


z,i75,4 I 5 


£377.127 




£374. 34 2 


52,197 




31,034 


50,000 




,0,, ,,„ 1 


2,1,000 




20,00, , 


491,002 




101,7, ,1 


*I, 111,990 


■ ■ t 


t, 111,817 


10;, 071 




96,50] 



Total 




32,277,459 • 


■ 51,373,176 


Season tn kets 




14,992 


43.944 


Mileage — Lines owned 




I.OSo . 


1,668 


„ Partly owned 




34 • 


34 


Leased or rented 




20 


20 


Foreign lines worked 


"\ , 1 


255 


255 


,, Total operated . . 


[,989 


1,077 


'train mileage Passenger 




8,622,523 - 


. 8,578,814 


Goods 




5,738,331 


5,808,207 


Total 


14,360,854 . 


. 1 h3 8 7>° 2] 


Electric tram mileage- Passeng 


er 


012,122 


010,02 | 


,, Coo, Is 




2,680 


2,697 


Electric car ,, 




i,9 8 7,5°5 • 


• 1,952,154 



lot.,1 



ipts 



I he report states : — " In spite of the labour troubles in the 
shipbuilding trade, which lasted for many weeks in the 
autumn, and which seriously affected certain classes of 
traffic, the revenue of the half-year shows an increase ,,1 
£111.540, compared with the corresponding period of 1909. 
Of this amount £85,110 has been absorbed in increased ex- 
penditure, the ratio of working expenses to receipts beinc; 02 
per cent, for the half-year as compared with m. \ per cent, a 
yeai ago. This is partly accounted for by the increased 
price of coal, and partly by the strike of the company's men 
in July, which, while depriving the company of revenue did 
not enable any appreciable reduction to be made m working 
expenses. I he Goole and Selby Railway has been brought 
into use lor goods and mineral traffic, and the new fish quay- 
it Vii toria hock at Hartlepool was opened on December 5. 
1 ,,„„! progress has been made with the new passenger station 
at Whitley Bay, and the alterations at Northallerton Station 
are well in hand. A Bill tor general purposes has been de- 
posited m Parliament, which will be submitted to the pro- 
prietors tor their approval at the special meeting to be held 
at the con, lusion of the ordinary half-yearly meeting. Among 
tli, works in, Itiilcl in the Bill tire widenings of the York and 
1I1, Darlington and Saltburn, and Leeds and Selby 
railways, a new railway from Monkseaton to Seaton Sluice, 
,ind a short length of line and coal staiths at North Blyth. 
Idle Bill also pros ides for the transfer to the company of the 
powers granted to the Brackenhill Light Railway Company. 
Ili, capital proposed to be raised under the powers of the 
Bill is £450,000, with the usual borrowing !>■"' ;r« 



1 ' ' ■'■-»• I'll I . 



Till RAILWAY TIMES. 



>i; 



LONDON AND SOUTH WESTERN RAILWAY. 

i counts to December 31, 1910, were 
on Tuesday. Our usual analysis is appended : — 
Capital. 
'i otal 1 kjx oditure 

k ated as follows) 
" > 

Debenture stock .. .. .. 14,788,414 

- 
Premiums .. .. .. .. 2,880,252 



ital .1. . ount 

t'nder the powers i r oonvei by the South \\ 

(Slock Conversion) Aei. 1890, section 2. sub-section ij. this amount of • 
is now repi iriginal ordinal] 

onlin.tr'. i 

The expenditure i«>r tin- half-year amounted I 

of winch £142,135 was mi lines open for ' ,74 "it 

lines in course "t construction, £52,797 stock, 

;; tin Southampton Ducks, ami 

..11 subscriptions 1 > other railways and contril 

I lated further expenditure In the 
current half-year, £'383,000; in subsequent hall 

[21, OOO. C.tj . and Othei 

available . $7, 216. 

NUE. 

The revenue account for the half-year ended D 
shows the receipts under this h.-ad to have b 'en as follow : — 

1909. 

. . 
d-class . . . . 159.012 . . 1 
Third-class .. .. 1,141,082 .. [,090,301 

140, $46 . . 1 , 
ji.ooi 

Mails 27,685 .. 2 

Mercli.ui.ii- .. 52'. .577 .. .=,1 ".."7- 

Liv. stocl . . . . . . 23,870 . . 

Mineral- . . .... 243,065 

Waterloo and City Railway .. [5,847 [5.825 

Is, el . . 53,508 . . , 

Transfi . . . . . • • • (.45 

1 (8,017 • ■ ' » - ■ -^ 1 1 

Do. ! . . . . . . [66,668 . . 162, j62 



Total receipt .. .. £3,042,052 .. £2,961,422 

The expenditure on revenu account tor the same period is 
shown hereunder : — 

Maintenance of way, etc. .. £284,025 .. £274 

Locomotive power .. .. .. 475,582 .. 459 

Carriage and wagon repair- .. it" (.75 [12,102 

Traffic expenses . . . . . . 145,318 11 

General charges .. .. .. 70.440 

Law cl " ■■ 

Parliamentary expenses .. .. .. 25 

apensation Passengers .. 167 .. 22; 

7.278 . . 

Rates and taxes .. .. .. [32,062 .. 128 

Government duty .. .. .. I7,24r .. [7,113 

Demurr.t^' ■ . . . . ; . . I.016 

Tolls ami joint lines expenses .. 15.278 .. 1 

Waterloo and City Railway .. !8 . . 

Steamboats .. .. .. 110,485 [11,980 

Renewal & insurance chai [2,084 . . [1,4 

Dock expenses .. .. [04,848 [04 



Total expenditure . . ... 

The net revenue account and the proposed appro 
the balance available for dividend may be summari 

follows : — 

Balance from previous halt-year £3-' 

rnings . . . . . . 1 . 

Sundry credits .. .. .. 7.127 .. 



Total . . . . . . .. £1,273,222 

Prior charges ..... 

Transfen .. .. 20.000 .. 20,000 

heats, renewal-. 
etc. . . . . . . 15,000 . . — 

Preference dividends .. .. 356,051 .. 355.552 

Dividend on .n121n.il ord. stock .. 304.5351 •• 

,, 1 ' 141.81 \d 

■' 
Balance to next half-year.. .. 35.142 









• 


■ 










• 




• 




• 


T 


• 




. 






21 1 .77'. 


2 .: 








2,21 



Total . . . . . . . . £1,273,222 

■ . : ■ r annum ; 

(ct at the rate <->f 4 per cent, per annum ; i</ 1 at the rate of 44 i»er cent per annum : 
(e) at the rate of 4} per cent, per annum [equivalent to 

year' ; (/) at the rate of 3) per cent, per annum (equivalent to 1» i>er cent for the 
whole year 1 . 



: 

dilute .111 It 
II. ill 

Third-class 



. . 
1- and nun, 1 
Live stock (number) 
Mileage— Lines owned 
I'.u t ly owned 
Leased or rented 
Foreign lines woii.' 

Total operated 
Train 1 

,, .. (rail 

(V. 

Goods 

Total . . . . [0,428,448 

The report states: — "The Southampton Dock n 

show .111 in- • 

£473. l'lie steamboat receipts have decn i 824, 

An addil ■ 
station a1 Waterloo has been opened fo [Tie doubling 

of a further nd Farcham 

has been carried out and brought into use. I he const 
of the new 10-aci e 

and the enlargement of the i 
well in hand. Tlu: Bill whit h the due. toi ted to 

Parliament for the ensuing si to the 

■ 

! >y this Bill it 
is, .11110111,' other matters, intended to 1 undertaking 

of the Budleigh Salterton Railway, which is a short line 
iles in lengt : ■ .mpany 

d in May, 18c. al Dills and 1 • 

which may affect the v. pany, will be duly 

applied for in those cases where it is 
,ry. It is with the utmost regret that the 
ors have to record the great loss winch they and the 
company have sustained throug irman, 

Scotter, on 1 >• ember 13 last, and oi I 
1 successful 
Charli eral ad afterwards as deputy- 

chairman and chairman must be well known totl 
lus '.'ie.u ability and practical know • isiness 

having justly gained him a wide reputation. (Llon.-l Campbell 
had 1» 

to the company, having occupied the po leputy- 

,,,11 and chairman. On loss oi both is keenly felt by 
theii ■ Mr. Hugh I 

. hairman, I 

and Sir William Portal has been - 
deputy-chairman. I 1 ncies on the board hat 

idled by tl • the Earl oi - 

Mi Roberl Martin-Holland." 

Metropolitan Railwaj "f Constantinople. amatory 

. me. -tine of this company called for Thursd 
celled, and fresh extraordinary meetii 
sumnv held on Februarj : h 15, at 25, 

Bucklersl u , E.C., it hn o'clock. 

Somerset and Dorset Railway. I 
that tl 
per n 
mile pi 

mpared with 1 



n6 



THE RAILWAY TIMES. 



[February 4. 191 I, 



METROPOLITAN DISTRICT RAILWAY. 

The half-yearly accounts to December 31, 1910, were issued 
on Wednesday. Our usual analysis is given below. 

( il'ITAL. 

Total expenditure .. .. .. .. .. ^12,452,885 

Total receipts (allocated as follows) .. .. 12,496,044 

Ordinary stock .. .. .. *£3, 235,000 

Preference and guaranteed stocks 5,935,219 

Debenture stock . . . . . . 3,325,825 



£43,159 



Balance at credit of capital account 

Including £500,000 issued at 25 per cent., and £485.000 at 35 per i 

ienditure during the h.tlf-ye.tr amounted to £231,883 
— viz.. 212, 579 on lines open for traffic, £16,304 on working 
stock, and £3,000 on City lines and extensions. Estimated 
further expenditure — In the current half-year, £75,000, in 
subsequent half-years, £125,000; total, £200,000. Capital 
powers and other available assets, £1,486,147. 

Rl \ 1 NTJ E . 

fhe r. vi qui 1 1 j t for the half-year ended December 31 

shows 1910. 1909. 

Total receipts .. .. .. .. £300,806 .. < 9,61: 

Total expenditure .. .. .. 150,5113 .. 152,673 

Xet receipts 
Balance from last half-yeai 
Rents oi surplus property 
Rents, London Electric Rail was 
Rents for use of Sub-stations, etc. . 
City lines and extensions 
Wliitechapel and Bow Railway 
< an. 1 al interest 

Total 

Prior ' harges . . 

General interest 

Ri 51 rved for renewals 

Dividend on 4",, guaranteed stock 

Warrant for ms. per cent, on 4' 

guaranteed stock 
1 h\ idend on first preferem e stock 
Balance to next half-year 



£150,213 . 


£126,938 


8,527 


159 


1 1 982 


13,636 


0,450 . 


6,425 


6,304 . 


0,941 


1 1,094 


10.4*2 


2,607 


-.447 


— 


594 






£204,177 . 


£167,822 




. £131,880 


541 . 


— 


10,000 


lo, now 


*28,50i 




'',250 





t26,250 





2,021 


942 



£167,822 



Total. . . . . . . . . . £20 1,177 

At the rat. ..I I per cent, per annum t Vtli. rateol ilpen. ... 

III. receipts for the pasl half-year show an increase oi 
95, the expenditure a decri 1 e of {2,080. and the net 
receipts an increase oi £23,275. The rata, of expenditure to 
receipts is 50.06 pet 1 eni . as against 54.60 per cent. 
Traffic, etc. 
Hall-year ended December 31. 1910. 1909. 

tigers- First-class .. .. 1,044,220' .. [,o6 ,91: 

I irird-class . . . . . . 10,949,1 40 . u .... 1,1 \g 

Seasoi tickets (essd. journeys 1,558,044 .. 1,762,356 



,, Total . . . . . . • • 30. 




- 13,902,406 




[910. 


loo,,. 


Mileage Lines owned 


24 


24 


Parti 1 iw ned 


, 


I i 


♦Lines worked 


1 




1 oreign lini worked over 


-'''' • 


20_] 


rotal 


54j 


4 si 


Jr.. in mileage" Passenger Electric 2, 


298,088 


2,164,144 


G K .. 


33 • 


68 



Total 
1. ,11 mileage 



2,298,12 1 . . 2,164,21 2 
0,0 jo,779 . . 9,084,116 

Including miles run b> 1 '1 trici tra n joint tnd foreign lines. 

The report stab 1 1 | n has been made by the 

London ml South Western Raihvay with the widening works 
between Studland Road, an I V ton I .mo jum tions, ami it is 
h ■ tin work completed in sufficient time for next 
winter's train. Several oi the nev carriages (of which 52 
have been ordered) have been in service since the end oi the 

year. The} are of steel strud on, rnd the small amount of 

limbei used I been madi I ■■ I . i pecial ti eal 

mem The London Elec trii Railwa; ( ■ >mpan ; an 
escalators, or i vays (which work verj successfully 

on 1 ■. era! other railways), ai Earl's ( ourl Station, foi the 
convenience oi the exchange traffii between the Districi and 
I 'ii . .i.lilb. Railwa 5 at thi itation Pa 1 ngi rs will be trans 
ferred between the low level and high level stations by means 
1 'I these escalab I it i expei ted 1 ha1 addil ional I raffii 

will result thereby. Extensivi improvements have been made 
n lion I Ton 1 and I 'u1 n< .; ion « hi. h w ill 



materially improve the train working. Following a practice 
of a majority of the London railway companies, the deposit on 
season tickets was abolished from January 1, 191 1. The com- 
pany have consented to the transfer of the lease of the Earl's 
Court Exhibition grounds from the London Exhibitions, 
Limited, to Earl's Court, Limited. The grounds will be 
opened this year as an amusement park. 

The company are promoting a Bill in the ensuing session of 
Parliament seeking powers to incorporate a joint committee 
of the Metropolitan District Railway and the London Electric 
Railway Companies, and to empower it to purchase by agree- 
ment the generating station of the Underground Electric 
Railways Company of London, Limited, situated at Lots 
Road, Chelsea, and to lease it to the two railway companies, 
and for the supply of electrical energy to certain railways and 
tramways and authorised undertakers and the companies' 
tenants, also for the construction of new railways at Earl's 
Court for the more convenient working of the railway at that 
important point, and also to authorise the company to use 
its funds for the purpose of acquiring and working omnibuses, 
cabs, and other road vehicles. The Bill will be submitted for 
approval to the proprietors of this company at the special 
meeting to be held immediately after the ordinary meeting. 
The electrical energy lor working the District and London 
Electric Railways is obtained from the Lots Road station 
under the agreements with the Underground Company for a 
period of ninety-nine years from 1904. Under the terms of 
such agreements the amount paid by each of the companies is 
based upon the actual cost to the Underground Company for 
working the station, plus a small profit, and the interest 
es upon the cost of the generating station. The directors 
consider it highly desirable that the railways should have 
complete possession of the generating station from which 
the supply for working the railways is obtained, providing a 
fair price for its purchase can be agreed upon with the Under- 
ground Company. The joint committee will be empowered to 
base the generating station for a term of nine hundred and 
ninety-nine years to the two railway companies, the generating 
station when leased to become a part of the undertaking of 
the two companies. The joint committee will create and 
issue stock for the purchase of the generating station, to be 
called Metropolitan Districi and London Electric Railways 
Joint Power-House Rent-Charge stock. Each of the two com- 
panies will, in the first instance, be liable for a moiety of the 
rent which will be equivalent to the interest charge upon the 
stock so created and issued and the expenses of the joint com- 
mittee. Provision is, however, made for apportioning this 
amount between the two companies 111 proportion to the 
amount of electrical energy used by each company. This 
1 harge is to be a working expense of each of the two companies, 
as al present. The purchase and lease of the generating 
station will 11.1i take effect until the purchase price and terms 
of the lease have been approved a1 a general meeting ol each 
of the three companies. 

\ Bill is being promoted in Parliament by the Loudon 
Electrii Railway Company, seeking powers to extend their 
railway (Charing Cross, Euston and Hampstead line) t nun its 
i terminus at Charing Cross to i point beneath this 
company's Charing Cross station, and to make an agreement 
with tins company with reference to the construction, working, 
maintenance, and user ol the proposed railway and oi any 
station or works in connection therewith. It is also intended 
to improve the present interchange arrangements with the 
Baker Streel and Waterloo line and to provide suitable 
fai ilities for interchange traffic with the rlampstead-Highgate 
line at the Charing 1 ros tation. flic traffic between the 
two railways will be greatly improved, and this company 
will benefit therein The agreement to be made b.-tw e 
two companies will provide for contributions towards the 
interest on the cost of constructing the extension railway. 
1 in Bill will be submitted for the appro\ al of the proprietors 
of this company at the special meeting. 



Vale of Glamorgan Railway. I In reporl ol th< Vale oi 
Glamorgan Railway Company stales that the amount available 
for distribution is ^,11,312. The directors recommend a divi- 
.1. ikI ai the rale ol 4 1-10 |..i cent, per annum, ibsorbing 
Xan.Sji., and thai x't s 5 be carried to the credit ol fhi currc.t 
half-year. The revenue account shows thai the shari of 40 
per cent, ol the gross receipts payable 1., th. company was 
I, th. Barn Company contributing a further £4,720 
under their guarantee ami £250 lor administrativi expenses. 



1 VRY 4, H 



Till KMI.W \Y I [\|| S. 



LONDON ELECTRIC RAILWAY. 

The first half-yearly report oi this npany, which is a 

•consolid.it urn oi the Baki 

•Cross, Euston and Hampstead, and thi Gn it Not 
N\ and Brompton Railways, was issued on Wedi 
ounts foi the half-yea) end 
h sed below : — C \rn.u.. 

Total expenditure .. .. .. .. .. £16, 303, 112 

Total receipt .is follows) .. .. "10,209,046 

nary stock . . . . . . £9,3-7,940 

Pre! . . . . . . 3,150,000 

nture stock . . . . . . 3,791,106 



Balance at debit of capital account . . . . £34,066 

cpenditure during the half-year amounted to £9,396,689. 
Estimated further expenditure In the current half-year, 
£20,000 ; in subsequent half-years, £180,000; total, / .100,000. 

Capital powers and other available assets, /496,88s. 
REV] 

The • 1 ount for the half-year ended Decemb 

1910. 

il ,->,, 

Total expenditure .. .. .. 166,91 [ .°75 

Balance irom last half-year 
Kintals and interest 

Total 

Prior charges 

1 \ed lor renewals 
Dividend on 4% pref. stock.. 

Do. ordinal \ 
Balance to next half-yi 

Total . . . . . . atefy.) 

The \ how an incn 

the expenditure a decrease oi £4,107, and the ne1 

earnings an increase of £10,94.1. The ratio of expendil 
inst 49.43 pi 1 1 
Tk \ 
Hall D ioi". 

1 -Total . . . .46 

Mill ivned . . . . z 1 [ . . 

Lines leased . . . . : . . 



£'185,927 






14,04s 




•■ 








94,6 








, 


dends wore paid 




by the three 
compan 



i otal 0] 
Train mileage 
Car mileage 



. . -'. si |.o | , . . 2 ,o I 2,1.(2 

The ■ impan} i- erei ting esi 

or moving stairways (which work fully on 

ai Earl's Courl Station foi 

a een th<- Disti ii 1 
and Piccadilly railways at this station. Passengers will 
1 between the low level and high 
d i 1 i - < ■-. 
that additional traffic will result thereby. The compan) is 
promoting .1 Bill in the ensuing session ol Parliament seeking 
■ struct .hi extension ol the railwaj (< hum- Cross, 
Euston and Hampstead line) from its present terminus at 
Charing Cross to .1 point beneath the District Railway Station 
nt the Embankment, and to make an agreement with that 
company with reference to the construction, working, main- 
use of ill- proposed extension, and of am - 
or works in connection therewith. Ii is intended to improve 
the interchange arrangements with the Baker Street and Water- 
loo line and the District Railway, and to provide suitable facilities 
for interchange traffic between the proposed extension railway 
■and the Bak S I Waterloo line and the District Rail- 

way. The interchange traffic between Lhe two railways will 
id this company will benefit thereby. 
The agrei ment to be mad'- with the District Railway Company 
will provide for a contribution t< wards thi cost by that company 
.and for the use of that company's station premises by this 
company. Also to confirm an agreement regarding this exten- 

1 the I >isti ict Rail 
Railway Company, the South Eastern and Chatham R 
Companies' M I d this company. The Bill 

also seeks pi ■• nsion of the company's 

railw. line) from its 1 

terminus at Edgware Road t'i a point beneath the 1 , 
Railw dington Station, and to mal 

ment with that company similar to that with the I)i-tri. 

in regard to the Charing Cross exti rtsion, also t" acquire 
additional lands at I [ighgate (( li.irin: I n and Hamp- 

stead lin< 1 for the purpose of enlarging the station and affording 
an additional entrance and exit. Also powers to suppl 



to certain railways ami tramways and ... 

K "' '' nd working omnil 

I 

I II will 

tpproval ol 

■ 

Railway 

a> are 1-0,11. n tne ensuiiu 

1 
I » rict Railway and th I I , Rail 

1 1 ways 

i 1 

■ two railw.- supply 

S and 

authorised undertakings and thi 

i-, 11 ot new railw a I 

nient working of the railw 

I I e Bill will he submitted 

! R 

led from tie 1 

with th I 

: ihe terms , ,| such agrei ments, 

' small 

rating 

r it highly desirable that the 

rating 

■ from which the supply for working 

oStained, providing a fair price agreed 

upon with the Underground Company. The joint committee 

w ill If tmpowi red to lease the generating 

Ol ami 

station wh< n 1 iking of the 

two c/>mpan'n I'hi 1 immittee n if 1 

"Metropolitan District ..nd London Electric J ■ foint 

Power-house Rent 1 - " Each of the two com] 

will in the first instance be liabli ie rent which 

will be equivalent to the in! ■ ock so 

and issued, and the expensi - 
Provision is, however, made for apportioning this amount 
u the two companies in proportion to the amount of 
electi ical 1 . This charge is to 

be a workiii 1 f the two companii - 

hase and lease of the generating station will 
not la! til the purchase price and term. 

have been approved at a general meeting of each of ti. 
1 1 impanies. 

HULL AND BARNSLEY RAILWAY. 

The lull \ eat K .a counts to D 
.■a Wednesday . Oui 1ma.1i anal} ■ 1 

: \I . 

1 icpenditure 
["otal receipts (allocated , 
. . 
tock 
tock 

Ad\ at : a'. Co. . . 



Balani unts 

Tin he past hal! 

175. Estimated fu 

• s and othei 

The .a « ount tor the half-ye 
the rei 

1 

'.; 
M 



Total expenditure 



1 









































n8 



THE RAILWAY TIMES. 



[February 4, 191 1- 



1 910. 

£2 4 ,2 3 8 



IS? 



1909. 

£2 i.i-l 



£174,382 . 


■ £170,646 


1 65,420 . 


" 1 ' i 


— 


671 


4,000 


4,000 


13,125 . 


13,125 




8,ooo 


*7°> 12 5 ■ 


*70,I25 


12,774 . 


10,041 



Balance from pi Hint 

ntral, Hull and Barnsli \ , and 

Midland Co. 

Interest 

Total n. 1 revenue 
Prior charges 
General inter. s1 

Renewal and contingencies fund . . 
Dividend on 3J per cent. pref. stock 
Dividend on 4 per cent. pref. stock 
Dividend on consolidated stock 
Balance to next account 



i i ;82 .. £170,646 
At the rate of 44 per cent, per annum. 

The receipts for the past half-year show an increase of 
1 606, the expenses an increase of £9,078, and the net 
receipts an increase of £2,528. The ratio of expenses to 
ret eipts is 57.91 per cent., as against 57.22 per cent. 

Traffic, etc. 

Half-year ended December ,1. 1910. 'i. 

Passengers carried .. .. .. 315,447 .. 280,732 

Season-tickets .. .. .. .. 221 .. 195 

Mileage — Lines owned .. .. 77! ■• 7* ' 1 

,, Lines worked . . . . ui . . ri| 

,, Foreign lines run over .. -4 • ■ -'4 



,, Total operated 
Train milea 1 Pa engei 

,, Com Is 



840,805 



214,874 
788,775 



1 otal . . . . 1,060,821 . . 1,003,649 

The report states : — " The western portion of the company's 
river pier has been completed, togethei with two of the 

ap] 11 lies. The first coal conveyer has been brought into 

use, and the second is rapidly approaching completion. Satis- 
I m ioi\ progress is also being made with the eastern portion 
of the pier. The difficulties in connection with the Lock Pit 
at the Hull Joint Dock arc now being rapidly overcome, and 
good progress has been made with the foundations and walls. 
A contract for the greater portion of the joint railway from 
Gowdall to Braithwell, authorised by the Company's Act of 
1 c ,(,, 1. has been hi by the Hull and Barnsley and Greal Central 
I s . 1 1 1 ■. \ . 1 \ . J. .mi ( ommittee, and the 1 onsl i 111 lion of thi lini 
has already commenced. The works of the remainder of the 
line are of a lighter character, and it will not be necessary 
in order to complete the whole of the line simultaneously to 
plat e the contra 1 t for their construction until the em I of the 
year." 

LANCASHIRE AND YORKSHIRE RAILWAY. 



1910, were issued 



The h tlf-yearh ai 1 ounts to 1 >ei ember 31, 
on Tuesday. An analysis is appended. 
Capital. 

'I otal 1 xpenditure £62,666,903 

Total receipts (allocated as follows) .. .. 60,804,762 

Consolidated stock ■■ ■• £18,821,470 

Preference and guaranteed stocks 23,928,963 

Debenture stock 15,755,085 

Loans . . . . . . . • io 

Premiums . . • • • • 2.068,806 

Sundries .. .. .. .. 220,438 

Balance to debit of capital account .. •■ £1,862,141 

1 1 penditure <n capital account (hiring the half-year 
amounted to £188,327, of which £60,65] was on lines open 
for traffic, £44,811 on working itocl [70,865 on lines in 
ion, and £12,000 on subscriptions to othei 
railways. Estimated further expenditure: — In the current 
half-year, £182,236; in subsequent half-years, £4,219,741; 
total" 'i |"i ,'.77. Capital pcwci md other available assets, 
£3.934. ' 34- 

R F. VI ' 

. tot. aci Hint ioi tin hall ■ ■ .n endi I Dei .'tuber 31 
p1 ■■ ■ ' ' I n as under : 





ii".i I 




. oncl 1 las 




1 hii 




.ii tii 1. 


Par. 


1 arriagi 




-, . . 






M11 . 





I I 1 



1000. 

I .1 1 

927,158 

' . ■ r , 

[48 109 

I '., ,ol 



1910. 


1909. 


23,198 . 


22,280 


10,861 


8,517 


44.342 ■ 


43.395 


1,621 . 


2,457 


< 3,i7i..i 71. 


..-',.000.272 


•count for the 


same period 


'271,629 . 


£270,295 


513,021 . 


510,700 


144,507 . 




686,552 


687,610 


52,869 


51.003 


3,490 . 


3,1 10 


3,393 


4. 7(4 


3.265 


7-147 


0.012 


8,866 


13,982 


1 i,944 


171,980 


p.7.404 


8,858 ■ 


8,789 



ocl 
Mileage and demurrage 

Rents 

Fleetwood and Belfast steamers 

Total receipts 
The expenditure on revenue ; 
was as follows : — 

Maintenance of way, works, etc. 
Locomotive power . . 
1 arriagi and wagon repairs 
I laili. expenses 
General charges 
Law charges 
Parliamentary expenses 
Compensation — Passengers 

Workmen's \. t 

Goods 
Rates and taxes 
Government duty 



lot.il expenditure .- .. £1,882,558 .. £1,874,335 

The net revenue account and the proposed appropriation 
of the balance available for dividend may be summarised a.> 
follows : — 

Balance from previous half-year 
Xet earnings 

1 - Interest 
Dearne Valley Rly., interest & di\ 

Total 

Prior charges 

I 'referent e dividends 

I 'lviilcnd on ordinary stock 

Cal, nice to next half-year 

Total 

\l 5 percent, per annum. 

The gross receipts for the past half-vear show an increase of 
£79,901, the expenses an increase of £8,223, an d the net 
receipts an increase of ^71,681. The ratio of expenditure to 
receipts was 59.27 per cent., as against 60.53 per cent. 
Traffic, etc. 
Half-year en. led December 31. 1910. 1 109 

• is — First-class .. .. 553,858 ■■ 567,171 

Second-class .. 1,706,898 ■• 1,605,629 

Third-class .. .. 52,709,932 •■ Ji.812.276 

Total 

Seasi .11-tickets 

Mileage Lines ovi tied 
I 'artly owned 
,, Foreign lines worked ov 

Total operated 
Tram mileage — Passenger 
,, Goods 

,, Total .. •■ 9,273,411 . 9,421,924 

The report states : — " The directors have not found it 
necessary to introduce into Parliament a Bill during the 
ensuing s,-s S ion. A resolution will be submitted to the ordi- 
nary meeting authorising the directors to oppose Bills pro- 
moted by othei parties which, in their judgment will pre- 
judicially affect the interests of the company." 

GREAT NORTHERN RAILWAY. 



£23,044 


£22,811 


1 jo [,618 


■ 1.221,0 17 


J.244 


i.968 


7.041 


7. 123 


• £1,326,94/ 


■ 16,139 


• 115.258 


H5,986 


501.771 


501,521 


*47°-537 


. * 199 9 ;o 


39.3 Sl 


18,693 


' [.326,947 


■ £1,256,139 



i4.970.688 
48,90; 


: 33 


985 . .70 

10.203 


1910. 

11 ; ', 




[909. 

5273 

107J 


t 23.s : ; ■ 




-■44 


881 J . 
6,702,285 
2,571,126 


6 


8793 
792 , 1 22 
629,802 



er 31, 1910, were issued 

ows : — 



The half-yearly accounts to I »ei 1 1 
011 Thursday. Our usual summary 
Capital. 

["otal 1 xpenditure . . . . . . . . . . ' 52,761, 557 

I otal . eipts (allocated as follows) ,202 , ... 

1 Irdinary stock 

S. stock 

B. stock 

Preference stoi ks 

Debenture sto< k 

I 1 . till U111S 

I lalanc e to debit ..1 1 apital a( 1 mm 
I he expenditure in the half-yea 
£48,050 was on lines open for traffic, £5,136 on new lines, 
£3,265 on subscriptions to other railways, and £1,065 "" 
1. 01 1 ui" stoi I.. Est incited turihei expenditure [11 the 
current hall year, .102,000; in subsequent half-years, 
£2,522,269; total, £2,684,269. Capital powers and other 
availabh asset s, £ 1,830,332. 



i ' 1-90 ;. f J7 

979.815 

07. 1. si , 
.'I 966 )2.S 

12.022, 146 
730.755 — 

• was £57,516, of which 



I'l HKl'AKV 4, [9I ] 



Tin k\u,\\ w TIM] S. 



■"■ 



T!h- revenue account show's the reo 
•Bded December ;i to bave been as follow : 

lass 

d class . . 
Third-class 

Si ■■ 

. . 

utilise (loss coll. and delivery 

lock . . 
Minerals 
Mileage and demurrage 

■ •I the company's property 
Transfi 

Navigation receipts. . 
Jomt & worked hues i',..\. proprtn 

Total receipts . . 

The expenditure on revenue an 

was .is loll,, us ; 



tin- half-year 



[ ,1 








• 


6,120 






1 1 


1 1 


-1 i 


21 


. 


. 




94' 


1 - 


[9.180 


54 1 


5- 


• 


412 




54.'°3 


• 


. 


, 


• 




•r 




., ,y. 


count for the 


period 








£257,622 


146.444 ■ 




153,690 


ISl 


371"! 


5< 1 


101 |'[ 


1 262 


4.555 


-(•457 


1 ( i'. 


I.7I3 











10,4 


11,448 


117,114 . 


115. 157 




• 


4.524 • 


■ 


"M ■ 


J> 



Maintenant , 

i"'\\ ,1 . . 
Carriage and wagon repairs 
Tram, 

a] charges 
Law cl 

mentary expenses 
Compensation- -Personal injury (pa 

nal injury 

1:1,1 taxes 
nment duty 
Navigation expenses 

and worked lines — t',.N". pro- 
portion 

Total expenditure .. .. £2,095,624 .. £2,031,636 

The net revenue for the balf-yeai and the proposed appro- 
priation of the balance available foi dividend may b< 
marised as follows : — 

Too,,. 

Balance from last half-year .. 17'- 

Net earnings .. 1,225,045 .. 1,210 

Sundry credits ...... 

Total 

Prior charges 

1 renewals 
Contingency fund . . 
nee dividends 
Dividend on prefd. conv. 1 

deferred conv. ord. stock 
A stock 
B stock 
Balance to next half-year.. 

Total . . . . . . . . it it' 1 40 . . 1 1 . - ! 

t cent, for the half year : (6) at (he rate of l£ per cent, for 
the half-year: (c) at tht rate ol (d) at the rate of 

5 l*T r, nt. for the half-year : (e) at the rate of 2i l>er cent, for the ball 

The grossreceipts for tin- past half-year show an inert 
■£78,823, the expenses an inert 

receipts an increase of £14,836 rht 1 tio of expenses to 
receipts u. is • irith 62.67 pei 

I 1 Milt, ETC. 

Half-year ended December 31. 
Passengers — First-cl 

,, '.-class 

Third-class 

rotal 

' 

Joinl lines G.N. 
,, Branch lines worked 
Foreign lines worked 



" 14' [ 4° 






[3,227 




. 


1 5 


ml. 


(46.455 • 


446.455 


, 552a . 


22 


167 '" 1 


129 


22 


>: 




. 




■ 



[910 






$81,148 


- 1 




19,602,464 


. IS 922,298 






51 






• 


1 28 


[28 






Total 
Tram i 

Goods 



I 
















ill he 
11 the purpose ol approving .1 bill for various p 
whit h the din ted in Parliament." I 

railways aul 

■ 

CARDIFF RAILWAY, 
half-yearly account s to Decembei , 

■ in Wednesday. Our usual analysis is appi 

C U'll.M. 

nditure 
1 oi.il receipts (all 
1 Irdinai j stock 

..... 
; red ordinary stock 

nlniarv shares 
Debentun tock 

"ins 



1,649,967 






Bala of capital account 

e on 1 a J ■ .; I co Mint during the hal 
(i, of which {i (o was on lines, eti , open 
i,l on working stot k, £9,357 on the Queen Alexan- 
11 new raihvaj s, and £i,i 25 on 
stamp dutj I further expenditure In the current 

in subsequent half rtain. 

il ]inu rrs ami other a\ ailable assets, 
Revi 
The ' Mint foi the half yeai endt '1 Dei ember 31 

sin in s : : . 

[910 
Mi n handise 
Minerals. . . . . . . . . . 14,509 . . 



14 
174,248 






£224,272 
8,826 



171. si I 



Total ... i 

report states : I he pi nction 

lenditure of £25,000 on sundry wo On the 



rotal receipts I raffic 

Docl . ■., and othei reci ipts 

ti 

pts 

I otal ret eipts 
Total expenditure 

Net earnings 

I Mill: 

[nteresi on 
struction 

1 otal 

Half-; ber 31. 

Prior i harges 

interest 

I 'refen nt e In idends . . 
1 >i\ idend on prel 

I on set 1 mi! pi 
. 
m,1 on ordinary shan 
■■. • half-year 

Total . . . . . . . . /i 1 1,, 1 j j 

At the rate of annum, 

i 1 5, the expenses an in 

Tk a 

the dii 

miles \ furlongs, and 11 

tion is 4 milt 
run in the : 

■ 





- 












■ 


{111,942 




1910 












- 












' 









i THE RAILWAY TIMES. [Fi bri u« 4, 1911. 

TAFF VALE RAILWAY. MIDLAND GREAT WESTERN RAILWAY OF IRELAND. 

Or.i 1 oi the halt yearly accounts to Decern- The half-vearly accounts to December 31, 1910, were issued 

bei ;i ' d to January -' s . Our usual analysis is appended: - 

Capi 1 \i Capital. 

i" 11 total expenditure .. .. ■■ •• ..£7,173,800 

ited as follows) .. .. 9.801 154 Total receipts (allocated as follows) .. .. 7.149.773 

el (dividend limited Ordinary stock .. .. •■ £2, 370,000 

pei minim) 1,192 ;oo Preference and guaranteed stocks 1 I23 92 

tock . . , . . . j, 035,043 1 lebenture stock . . . . . . 2,3 17,966 

tock . . . . . . [,526,25 Pat liami ntat j gi ant . . . . 1 r 

lisi ount 1, etc.) 1 ,0 , , Pn mium 1 ". . . . . . . . 168,015 



Bah capital account . . \i < Balani e at debit of capital accounl . . . . 1 ■ . 

iii' 1 'pital expenditun foi tin pasl hall ycai iva 1 ,232, The expenditure in the half-year was £708, .ill oi which 

ill of which was on lit 1 tot traffii Estimated furthei was on lines open for traffic. Estimated furthei expenditure — 

In tin current half-ycai , in ubsi [n the current half year, £1 4,200 ; in subsequent half-years, 

qtient half-) at mi in Capital powers and other avail noi ascertained. Capital powers and other a\ labli 

ihli isscts (less balance of capital account), £813, 890. £314,161. Revenui 

Rkvenui ["he revenui accounl foi the half- j'eai ended December 31 

Hie account for the half-year ending Pcccmbci ;i may bi shows tin receipts to havi beer is follov 
siiuini.ii 1 . . ! as follow 

ioio, 19 'i first-class 

parcels, mails, etc. .. £'122,680 1 ■ , .. Second class 

ind live stocl ;2i .. l'hird-i l.iss 

Shipping receipt . . . . . 1 8 ' ■ ■ , 10,801 ! 'an els In n >es can iagc 

Do. k .in.l In 11I.,. in rei 1 ipl 15,05! . . Mail 

Mi .. Il.11 1,518 1 ."i Mercl lisc 

Livi tocl 

I. 'Ml receipts .. .. ,. 102,6511 (89,844 Minerals 

total expenses .. .. .. :8o,6<i t.5°5 Roval Canal 

K' 111 

tvet receipts . . . . . . . . f 215,909 | 15.339 Hotel profits 

Interest . . . . . . . . 1... ;■> ' I ■ ' ' h ''" • • 

Balam • Ironi last I. itj wai . . 28.155 .. 

I otal re< eipts 

total net revenue .. .. t'245.193 11 |So The expenditure on reveni 

1 net revenu. and the manner of its disposal are shown is detailed below : 

11 Mi inn, 11.111, c "i waj eti 

Prior charges . . . . . . . '54.9S5 . Locomotive powet 

Preference dividends .. .. .. 58,401 .|"'i ' ""I wagon repairs 

Dividend on ordinan Ni.uk .. "103 I50 '103,850 tratl'ii expenses 

Balance to next hall yeai .. -7.- s "7 ■■ 10,35(1 General expenses 

Law charges 

145.193 ii' I '■" lianu 111.11 \ expenses 

rutin . , . .... 1 rdinatj Mileagi and demui ra 

fin rec ipt i..i the p.ist hall yeni show an increase ol Compensation Passengers . 

expenditun an inci ase ol 1 ■ 1 . \ md the net Workmen 

'"' Mi. ratio of expensi ; to reeeipl 

igait ," " 1 pei i cut.). 

I'u \i 1 I. . i 1 . Koyal ( 
llii ..1 . tided Deo inliei ;i. fit 



Rati unci taxc 



1 , 


,,„,., 




1 ,1 


1 


■" 19 


1 136 




1 


23,107 


, 1 


[5,118 




103,155 


32,277 


fi .'ii 1 


1 . 193 


11," 


' . 1 


, 


1 M ■• 


t.837 


"'I 


[,05] 


108 


88 


01 


120 r 


ml for tin 


same penc 


11 


1 ■ ■ ■ • 


"i ,68] 


60,989 


1 1,383 


12,604 


1 ""1 


f5.847 




8,126 


149 


• • 




1.234 




— 


100 


37 


1 tS 


. 


409 


562 


1 ' 1 


s s 4 


'i (8 


1.037 



total iiumbei carried , .-1 ;."| , . , 091 j8 1 



I otal expenditure . . . . 1 1NS.7 1 ( . . 1 , ■ 13 



!' ,2'J ' , : flic net revenue account and the proposed appropriation o 

■■<•.. . . . . . . I , 1 ■ ' . - , , , . 



1 in 



the balance av; liable foi dividend ma\ be summarised as 



I in, i I'.niU .wned . . ! ' follows : 

Lines leased in rented .. [ojj i". Balance froi nnt 

I . ■■ 1 1 , tfet eat nings 

Sim. rv 1 
total mill age opera tei [38 . . 138 

Train mileage* Passenger trains 130, 005 1 ' s ' I total 

nil itor-cat 132.330 . . 187.083 Prioi 1 liai s;es 

Goods . . . . v- ... , I '1. lerem e di\ idends . . 

Dividend on ordinarv stock 



' ; 1 ■ 


' 14 s l 


t-542 


1 ,02 1 


1 ,1 ,.n 




,.. 1 1 . 










• *35.55° 




— - 


j 


. 




r6,22S 


1 . t ."i 


■■ 



,, . . .. 1,345.388 .. 1. 171) "-•" Reserve fund 

l\i manent iva\ n new al fund 

Hit nn e to next h ill \ c n 
I..U.UU, 10 (it m 11.111 scai 

tit Iii month oi (ulv an ofl'ei oi ' "'''' 

- \ nt per .mnuul. 

' '" preference stock, authorised by the Hie gross receipts for the past half-vcar show an incn 

''•'-■ "'. ul >' to 1 par value, the ■,,. expenditure an increase oi • ; tot, and the net 

' ''■'' been taken up, the directors deeply receipts ,111 increase ol £12,673 Che ratio ol expet 

the lainentabli accidenl which occurred on the com- re ccipts was 56.14 pet 1 percent. 

1 'out v fit i.l.l on lanuai \ -■ i, resuH in I 1 \ . : '. 

ir persons and injury toother passengers. The Half-veai end Dec 1910. 1909. 

ere sympathy with the Passengers First-class .. .. 14,004 l4,Soi 

theit class .... 80,539 7.172 

t'hird-class . . . . !3.oi2 
Stratford-upon-Avon mid Midland Junction Railway. I 1 i.ilt. 

'"'• ll " >J 'i 

.,.•,,, being .u Ml1 '-' ' ! "' ' " u,u ' 1 , ■' 510 | ■' 

I In n, : r, wiiiir ] , ' ls " 1 7 "" uM •■ - 1 ; • -'; 

\ l,;,'u,i hues worked over 60J .. 

..To I .. 

1 ........... ,,,. ., rra __ SH.31S 

(S2.5 i7 .. 1 

".■".'. 

total . . . . 1 201. 8ss . . 1. ;i ; 1 ;- 



I 



EBRU \iO 4, Kill. 



Till RAILWAY TIMES. 



1:1 



1 ■ half-year we have li.nl 

n' the servants ■■' >rs ami 

have been ai rived a1 w ithout eco 

In lieu hi tin- subsidy which tl 'us for som< 

towards i!i ■ hoi be1 h een \ v - 

l, which i ; run foi I • n oi tourist I 

ti' ■ dir< eti us have deemed i1 desirable, in I 

■ 
tin- working • the m iin line ami to avoid - 1 

the directors contemplate doubling the seel 

ix miles, between Attymon ami Athenry, whei 

1^ mu< hi- 

DUBLIN AND SOUTH EASTERN RAILWAY. 

I I c,l 11, \\ cl ■ 

on \\ ednesdaj . Our usual analysis is appended : — 

1 \i . 
diture 



Ordinal . 

Debentui 
Premium 






Balai .... 

lines 1 pen foi 1 rami dui ing I 
'.u: !u 1 expendil ure u 
and other available ,^m-is, £27 

Subjoined 

i lei ; 1 : 

.... 1 
•. minerals, and live stuck .. 38,017 
llaneous re< . . . . 3,738 

. . 

. . 
im last hall 

.... 
v enuc iif the X. K. 
andW. Extension Railways, tomei I 

Worked lim ' . . 

Dividend mi 4 p.c. cons. pref. stock . . 
half-year . . 

. . 

55. 10 

Half-year ended 

number . . 
. . 
Mil. « ned 

I 'artly o\\ ned 

Jnctn. Rly . . 

lull . . 

..I . . 

Fon ign lini - 





1 1 (o,i : , 

g to 


6,226 

71 • 


s.l 17 




• 











1 




: • 


1 






Train 1 












The 

when the ciri con- 

fidently to ■ 

lined. 



GREAT CENTRAL RAILWAY. 

! 
\l . 

.... 



Defei . . . 

Dcbenl 

1 1. .mi. and 



111 .- 


















































'■ 





















further expenditu 

1 

!n in.- foi thi 

I In- ai ' ounts for 

under this head . 

. . 
... 
.. 
Parcel 

Mail • 

M i.i:. deliver} • 

tock 
ils 

: .Im ^ .u\<l wharfage 

Canal i I 

. . 
' ble 

Sundi y receipts 

'"•■' 1 receipts 

■ xpenditure on n 
follow I 
Main ' 

. . 

Compi 1 

... 
ud taxi's 
Government duty 
ile 

.... 

Canal expens* 
The net revenue 

as lull..' 

1 . . . . . . . . I SI ,s.,s 









421,415 






















".I'll 




11.1 




















-'.714 




1' 


1 1 . -• I J 







1 












1 














































































THE RAILWAY TIMES. 



[February 4, 191 j. 



Traffic, etc. 
I [alf-year endini December (i. iqio. 1909. 

Passengi iss .. 208,565 .. 206,982 

rhird-i lass . . 11,9 16,909 . . 11,602,434 



- 

\hli .1 


li.t.il 



■ owned 
1 'art lv owned 

I' .1 -.I'll 
1 - >ii :ign lines run o\ ei 

r.'i al operated . . 
Canals ami tramwa) - 


1-. 155. 474 ■ 

j 2 ,6 1 

1 >-'!■! . 

2164. . 

158 . 

1 - ! , 


. 1 1 


809,416 

/'. 1 io 

• in,! 
-' >! 
155! 

167 J 




1 , 1 84 1 . 

ill'. . 


1 


155 



Irani mileage Passenger .. 5,856,893 .. 5,760,825 

,, Kail motor cars .. 57,020 .. 56,191 

Goods . . ,.' 12 1,966 1,980,7 ; ( 



£10,935,879 . .£10,797,750 



DIVIDEND ANNOUNCEMENTS. 



n be <Ut. [riven in pnrenthe 



that on which tin 



1 



Pennsylvania Railroad \i the rate "I 75 cents per share 
fur tin quarter ended February 4. 

Londo: iM' Blackwali Railway. At the usual rate "I 4V 
per cent, per annum, payable on Februar) S. 

Forcett Railway' (January 27). -At the rate oi g per 
■ mi pi r annum, alter transferring t too to reserve and carry- 
ing forward {.403. 

National Railway-s 01 A 1 1 xh o. — A semi-annual dividi nd 
oi 2tper cenl being the seventh dividend on the first preferred 

btl 'I k. In- I urn ik'i la 1. il 

i» Mumbles Railway and I'm r fanuary 27). — At the rate 
il '1 pet cent, per annum on the preference shares and 6 1 per 
cent, per annum on the ordinary shares, carrying forward 

P01 1 1 .;' 'I Railway and Docks January 30). — Ai tin 
1. 1 1 ol 1 pi 1 'int |ni annum, carrying forward £1,719. A 
\ ar ago the dividend was at the rate of 3 per cent, per annum, 

ami 1 ;' 18 \\ a- 1 an mil ti a « ard. 

Cardifi Railway (January 27). Vt the rate oi j per cent, 
per annum on the second preferred ordinary shares, carrving 
forward { 5,791. A year ago the dividend was a1 the sami 
rate, and £16,270 was carried fi mvard. 

Railway (January 27) At tin- rate of 11 1 , per 
■cent, per annum foi the half-year, carrving forward £7,282. 
For the Decembet half oi 1909 the dividend was at the same 
rate, and '17,^7^ was carried forward. 

North Central Wagon ( <>. (January 311), -(in the paid-up 
capital lor the half-yeai at to per cent, per annum (free of 
income tax), £7,500; in payment "t a bonus at 3 percent. 
per annum (free "1 income tax), £2,249 9s 7d , to reserve 
fund, £3,1 , to current half-year's account, /,1,41s. 

North London Railway (Februan 2). At the rati oi 
ii per annum, after placing the sum ol £5,000 to general 

reserve (making it ' too, , 1 arrying forward £6,142. A yeai 

ago tie dividend was at the rate oi 4 pet cenl pet annum, 
,i ' lai id in gi neral reset ve, with £4,918 cart ied 

Bn .iingham Railway ( miim.i ami Wagon (January 

1 .: ', per cent, per annum in the ordinary capital for the 

half-yeai ended 'n mb< 1 ; 1 making a dn idend oi to pei 

cent. i"i ilie year; and also a bonus oi 5 per cent for the 

a total di tribution oi 1 , pet cent., tin- same 

.1 1, a 1 .a I, in the inia pni. ding \ ear-. 

Great Sot 1 m e\ vxd Western Railway (January 27). 

\i pi. 1, iii- 1 a ,\ pei ' ' ni pi 1 annum, aftet plai ing the sum 

1 •'. e fund and 1 ai 1 \ ing forv aid 

about £60,396 t" ne\i account. 1 he dividend at the corre- 

i the rati oi , pet 1 cnl ., £2,1 « 10 

in the lire insurani e fund, 1 an \ ing l' n 

Midland Railway (Februan j) At the rate oi .■ ' pet 

hi the pietei n 1 1 com erti d ■ irdinary stock 

and at tin lip "I \ J per cent, per annum on the deferred con- 

1 irdinat \ , I icing equal to ; pet 1 en1 pi r annum on the 

ii .1 I, I he balani 1 can ied forward is 

I "i thi corn | ling halt \ cat the dividend on 

1 the rate ol | ' p. 1 cent, per annum, 
ni'. ali ni i" the rate of 6 pet cen! per annum on the 
lit £101 :03 forw ard. 



GENERAL NEWS. 

GRAND TRUNK PACIFIC PROGRESS. 

\ mtv heavy immigration is looked for in the spring by the 
Grand IYunk Pacific Railway Co., especiall) from Americans 
who intend to settle along the line. During the coming year 
passengei traffiV will be undertaken on a number oi new 
branch lines, which, in the spring, will be brought up to the 
high standard oi road bed insisted on by the Grand Trunk 
Pacific. 

Progress and development "I towns was rapid throughout last 
m a - The divisional points especiall) , have claimed great atten- 
tion. On tin- average the divisional town-sites, Rovers, Mel- 
ville, Watrous, Biggar ana Wainwright have added at least 
one-third to their population. The other towns which have 
shown considerable activity are Tofield, Scott, and Holden, as 
all are situated in the rich agricultural country. The Govern- 
ment section ol that portion oi the Transcontinental Railway 
which i- being buill between Winnipeg and Lake Superior 
Junction, a distance ol 260 miles, was la-i autumn put in 
operation by the G.T.P. and used for carrying a iarge quantity 
ni grain. The eompan) are planning furthei extensive im- 
provements "ii it- main lines ahead) buill as well as taking 
under construction a large number of branch lines. Applica- 
tions for these have ahead) been made at the present session 
ol th Canadian Parliament. Great improvements have been 
made in the oompan) 's steamship's service on the Pa< ilie coast. 

MIDLAND AND TILBURY RAILWAYS AMALGAMATION. 

Considerable surprise was caused in financial circles on 
Wednesday evening when it became known that a provisional 
agreement has been entered into between the London, Tilbury 
and Southend Railwa) Company and the Midland Railway 
Compam for the transfer of the entire undertaking oi the 
London, Tilbury and' Southend Company to the Midland Com- 
pany. Even the fact that such a scheme was under considera- 
tion W aS 'ml Islli'W n. 

The consideration for the transfer will be the issue to deben- 
tun and preference stock holders in the London, Tilbury and 
Southend Railway Company of stork of the same denomina- 
tion in the Midland Railway Company producing an equal 
return, ami the issue to the ordinary stockholders of £.240 
Midland Railwa) two-and-a-hali per cent, consolidated per- 
petual preference stock in exchangi hi each £T 100 oi London, 
Tilbun and Southend Railway ordinan stock. The agree- 
ment is subject to the approval of the shareholders of both 
1 , impanies and ol Pat liamenl . 

I In London, I ilbun and Southend Railway Company's 
authorised capital, including loans, is £^5,303,450. the issued 
capital consists ol £2,111,740 consolidated irdinary stock, 
£."1,204,100 consolidated four per cent, preference stock, 

.'i.i",i four per cent, preference stock |, and £^1,236, 

four pei cenl debentun stock. The issue- ol the Midland 
Railway are : £ 58,960,933 pn f< rred 1 1 nvi rted 1 irdinary stock, 
ranking for two-and-a-hali per cent, dividends, £^38,850,979 
deferred converted ordinary stock, £718,089,560 consolidated 
two-and-a-half per cent, perpetual guaranteed preferential 
stock, £."55,975,126 consolidated two-andi-a-hall per cent, per- 
petual preference stock, and £741,145,793 debenture stock bear- 
ing j'. per cent, interest. 

REPORT ON THE BOLSOVER CROSSING ACCIDENT. 

I hi report ol Lieut.-Col. Yorke to the Board of Trade on 

the fatalities at Carr Vale level 110 — 111-. il ( lentral Railway, 

on Christmas Eve, was issued on January ;o. While 15 child- 
ren were crossing the line alter waiting foi oni train to pass, 
a not her train which they had not noticed dashed into the party. 
Three wen killed and three serioush injured, Winn the rail- 
way was authorised in 1891 the crossing was an ordinal') occu- 
pation crossing. In recent years the suburbs called New Hoi — 
uver and Carr Vale have grown up one on each side oi the 
railway, with the result that the road has become an important 
street, with a large amount of traffic along it. The con 
had 'I' in all that, ind even more than, the) could legal!) be 
, umpelled to do, and the) were also willing to move an existing 
footbridge t" a position close to the level-crossing, but they 
n,l tin Bolsovci Urban Council could not agree a- to the con- 
ditions, and in all live different schi mes vvi re pul forward 
without an agreement being reached. Il wa- stated after the 
that the railwa) compam and the Bolsover Council 

h ,4 ,,,, , ,1 th .1 a foot-subwa\ should be made, th mpany 

contributing- £270 towards tills work, this being the amount 



February 4, 191 1.] 



THE KMI.W \Y TIM I S. 



' ■ 



which ili- \ would otheov^ise have spent in moving th< 

I he 1 •. 1 1. iik ■ ■ of the cosl is to be folijnd bj tin I 
,111.1 ili. , ompanj « II k» p .1 u ati hm in .1 ij and nighi 
crossing until the subwaj is • ;■• 

The report com I I 1 > doubl thai 

ili,- 1 oad is m w in fa< 1 1 public one. Thai b 
should be made to complj with section 47 of the Railways 
Clauses Act ol 1 s 4?. and .1 gate-keepei 1 accordanci 

with 1h.1t section and section 6 ol the Railways Clausi Kc\ 
ol i.v -,. Bui these Vets apparently appl) onl) to the public 
tl the time of tin- construi I 1 iil\\ a) . 

Similar instances have arisen during recenl years in other parts 
of the d 1 would, therefore, seem tl Iditions 

tired in ordei to enable cases ol this kind 
to be dealt with, and for deciding how the cost of the. necessary 
alterations is w> be met." 



THE TAFF VALE ACCIDENT. 

I inqui -1 1 .11 ili. \ i. tims ol the collision whi< 

I \ Railwaj on fa 1 was © m< lud< .1 .it 

I lesday, « hi n th< jui j found that the ac< idenl 

used through a misunderstanding in signalling, but 

cting evidence submitted the) were unable 

either indi\ idual signalman. 

In the course ol the evidence, \. K. Hutchings, signalman 

1 . ill. hi Lower signal-box, 1 P pridd, stated thai on 

the morning o( the accident the first train he took from 

Cyfeillon I pper 1>.>\ was an engine and mineral train, ;ind it 

cepted l>\ Rhondda Cutti ig 1 L h i\ ed the 

signal: "Train out ol section" from the latti 9.3 Hii 

nexl signal he received was for a passenger train which was 

offered t.> him by Cyfeillon Upper at 9.43. He in 

Rhondda Cutting, and they accepted. V time he 

"Train 1 1 ' 

and the train entered his section at 9.37 and passed thi box 
When, however, the passenger train was passing his 
-back signal from Rhondda Cut- 
ting. H alarmed, and when he turned to the 
ni.l it was too late. Ili had no time t<> set the 
the ii aiii. \\ hich at thi 
was travelling al the rate ol between (5 and 40 miles an 

I ' 'ii. n itness said he < ould ha\ e seen 
the tail of the mineral train had he looked sped; 
Sidney Quick, the signalman at Rhondda Cutting, said the 
in which met with the accident was due al 9.52, 
and he was positivi led t.i him between 

the passengi r train at 9.5 and the passenger train due al 9.52. 
At any rate, he had no record of it. Inspect 01 I u< 

gnal-box, but did not interfere with him. While Tuck 

was there a fireman came in and gave the position of his train, 
which was on No. 1 line and held up. Witness immi 
blocked the line. That was the first intimation he had that 
nineral train on No. 1. He did not put down the 
■ in his IiihiU. 
The Coroner Mr. R. J. Rhys Why not Witness: I can- 
I went to the telephone and called the 
( ■ 'lion Lower, but tl 
replied. 
The Coroner : There is no ok. You saj 

in and was with you for twelve or fif 1 
the fireman ■ u box. It is hat tin 

fireman can i • two minim 

g with Tuck and I tve him attention. \\ In a 

did the fireman come to your cal 

And you accepted a passenger train and you knew tl 
ger train was running on the line on which theri 
a mineral train. After giving 

I from the presence of the fireman th 
No. 1 line an 

mean' 

with the Coroner, and said that the signal was an 

block. ... • , 

Hugh Tuck, Tat I' Vale RailwaA travelling 
was in the cabin about q 1 saw the firemai 

in When he came in hi said "Wi an on No. 1. V 

is." Quick said: Well I have 
no intimation of vou whatever." He then went to the telephone 
and. failing to get any answer, blocked back. 

,..;., ,|„. fireman on the mineral tra 
train w-as stopped a. the Rhondda Cutting because thi 

Linsl tie ne 
mimr. 

where he found Mr. Tuck and the signalm 
Thev . to take much notice ol him. fTiey wi 

talking tor two or three minutes. Then the signalm 1 



1 
signal. I did not know j 

Uexandi 1 S 
that when he was passing thi ' 

miles or l< ss an hour. II ' st< am. i !■■ 

had reached w ithin tl ain w hen he 

-aw it and realised that it was on lii- 

on the fooi-plate nil he wa it in the collision. 

The Coroner, in summ to what he 

di s< 1 iiie.l as " practical! . • H 

11 • • ident had h 

tirel\ in conseq to the mineral 

111. 1 



PERSONAL. 

Mr. 1 . 1 hontaa North 

dshin Railwaj Company, in the place- ol Mr. I . I 
who has retired from the company's service. 
.Mr. S. Morley, late stal 

liai 1 iiu I Mil, ha ' nted with a 

silver 1 ■ bj his Chesterfield fri 

Inspector \\ . I . Wokes, ol the L. and V.R I 
I : been presented with a gold chain to nark his 

retirement after forty-nine years' service. Mrs. \\ 
a watch and chain. 

Mr. George Wright, i 
adviser and consulting engineer to the Oudth and Rohilkund 
Railway, in addition to his pr< si nl dutii s as 
to thi North \\ • -nth K.iilw .1 
.Mr. (i. Hall, retiring from the set '■'■ tilway 

thirty-two and a half years' work. 
hi <>f a chair and a smoker's cabinet by the stall at 
■ , w here he was stationmaster. 
Mr. Parkin, stationmasti 
five years' service with the North Easti rn K.iilw a\ Co. I 

. d with a pu Id, a sih 1 traj . and an 

. la. To his w if. 
presi 

Major C. It. Husk mi. R.E., chii I auditoi and I 11 

B. B. and C, I. Railway, died on Janua 1 The 

deceased formerlj held a commission in thi R< I 

and then he. ame Govi 1 

I'lmii this post he resig ■ take up h 

appi lintmenl in Api tl, 1900. 

Mr. R. Wilkes, foremaji of the Tunbridg Three 

Bridges locomotive districts of the L.B. and s » R. < 
retiring ei -ti\ e yeai 3' service, 1 with 

an illuminate. I iddn ss.from nim I mem- 

: i e staff, and a nun all the 

Stati .nni.isi, 1 s in ill district. 

The Hon. Henry Walter Campbell. .1.1'., forn 
• : wards until i', -ii eh. in 

R i npanv, a dii Somer- 

ilway Co., third son of thi < 

I which the : 

Sir I lionias Selh\ I aiitrecl, -; railway 

i dil . c'or ol the I'll. ' 
the c.i i ind buildei 

y, who died on April 
probati - value of 

person . o 1 - 

Mr. H. It. H.n. 
highwavs for the Isle of Man. was articled in i&SS to the late 
Mr. W. Hunt, chii id Yorkshire 

Railway Co., and on the compli lion ol his articli - 
a engineer on the construction of the railv 
t Hi irwich. 
Presentations at Newcastle-on-Tyne. P 
I . Mr. R. K 

I 

. Mr. T. V 

and Mr, I . ' 

Messrs. Willis Stewart and Company, 

' S 
M 

- 



i-4 



THE RAILWAY TIMES. 



[February 4, 191 1. 



in orc i cr to give his personal attention to the firm of Messrs. 
Willis, St. wart, and Company, in which he ha- had an interest 
for man\ veai .... 

■■ Palmer, of London Bridge," a very popular official oi the 
L.B. and S.C.R. Co., has died somewhat suddenly. He com- 
menced his n earl) age, .nut for main years was 
personal clerk to successive 'general managers Hi always 
o-uardi I '. hes to tin- gen< ral manager's -an: turn, and 
tvhen hit chiel arranged to - - people at Brighton, or Ports- 
mouth, or Eastbourne, Mr. Palmer had hi- little ante-room 
from which In- ushered the visitor into tin- official presence. 
I 1 . 5 p, , , pp .nan. .-, which was always enhanced b\ a flowi r, 
; triking featuri of tin- man. According to tin- Sus a 
[) a jl v \, .. ■ . .1 was almost a tradition that his floral adornments 
were regularh sent up to London Bridge by stationmasters at 
different parts ol the line who regarded him .1- a personal 
friend and often a ver\ useful ally. Of late he was chiefly 
con, 1 rni 'I with the publii ation department. 

Mr. Vincent Hill, who in March next resigns his post as 
general manager oi tin- South Eastern ami Chatham Railway, 
i n rder to accept a seat on the board of directors, is one of 
the few m< n living who were connected with that system when 
Mr. Ma. a- Forbes was the general manager. Mr. Hill started 
,,, the age ol iS as a clerk in the superintendent's offii e, and 
he was ifterwards station superintendent at Victoria, 01 

intendent of tin- line, .and parliamentary assistant to tin 
chairman am! general manager. On January 1, 18S4, he 
became manag. and secretary of tin- Hull ami Barnsley Rail- 
way and Dock Co., at tin opening ol the undertaking, ami 17 
latei hi was appointed to his presenl position. He is a 
member ol th< Roval Victorian Ord. r, of the War Office Rail 
1 1 | C ii, and "of the Royal Order ol Isabel (Spain). _ 
Mr. i : . H. Dent, the presenl goods manager and assistant 
general nagei - -I the South Eastern and Chatham Railway, 
■ in d who 1- to succeed Mr. Hill as manager, is the second son 
,1 ihe I. a. \dmiral Dent, who for a long period was marine 
superintendent of the L. and N.W.K. He is 43 years oi age, 
an d is brother to Mr. C. II. Dent, the manager ol the Great 
rn and Western Railway. At the age of 17 Mr. Dent 
entered tin offici of the general manager at Euston as a clerk, 
wo \..n-s later he was transferred to the superintendent 
ni ,he line's department, afterwards becoming outdoor assist- 
ant t-isistanl superintendent ol the ( hi st< i nnd Holyhead 

division superintendent of the same district, nnd in 1 dis- 

I- manager in addition to his othei work. A year 

later 'he was appointed goods superintendent ol the London 

district. Ii was proposed to enlarg, the Broad Street depot 

rrc.il - utlav, but reforms instituted h\ Mr. Dent enable 

xpenditure' to be avoided. In ; Mr. Dent was one 

o| ., parti ol L. and N.W. officers who visited the I nited 

Slates, .,,,,1 in 7 he received his present appointments. If 

, | 1a iri 1 the R lilway 1 "i. aring House Goods Mana- 

1 C'onferenci in iqoq. 

RAILWAY NOTES. 

\ Proposed Light Railway. \ scheme is being promoted for 

the laving ol a light railwav houi l"arporle\ to Nantwich, and 

d that an inquiry will be held shortly in connection 

\\ ilh the projei t. ,,,--, 

Fort Augustus Railway to Remain Open, [he North bntisn 

• no have withdrawn tin ir noti< i s terminating the agree- 

,rking this railwav, several landown. rs and residents 

.,-;, , d to met t an\ deficit which tin luvergarrv 

I in.o l«j 1 ailed upon to pa\ . 

Scottish Inijuin into German State Railways.- \ depul ition from 

t, h railwavs left Glasgow for Berlin on 

aire into the working ol the I ierman State 

I he deputation will spei ially inquire into tin woi 1 .- 

i In privad trad' rs' w agons. 

dreal London Docks Scheme. In a report prepared 1>\ Lord 

|),\,„,|,o,i chairman and Mr. [■'. I'ahnei « hiel engineer , 

,1, alino with improvi ments to the I^indon Docks b\ the Port 

I | ,,, \ u thorit\ . it is proposed to improve the fa< ana s 

provid. I ',- - \ ami Ubcrt Docks, and to construct 

iflicii nl • i pa i it; to lake vessels of the 

I, I idoil to hold Us own 

the competition of thn lal_ rival 

I i ciu.li Order for Locon mixes. | l,, -,, engin -s and ti nders for 

llu . x.,,,1, British I ni am 'live Company (Limited), Glas- 

nm iln 1-r- -a h Slate Railways 

,:i, . are to be ol tin si\-\vhei I, coup!, d pass, nger type. 

,..,, i< based -ni the tvpe in us,- on tin I [ighland Rail 

i iy 's s\ stem, - ■ ■ . the addition ol spei ial 

i,l foi work on ill.- French railways. 



Yorkshire Railway Wagon — The report of the Yorkshire 
Railway Wagon Company, Ltd., states that the company now 
owns 30,673 wagons and 25 engines. The gross profits for 
the year 1910, Including the balance brought forward, aim tint 
to ,£47,597. The sum of £24,500 is required to pa) interest 
on debentures and loans. An interim dividend was paid in 
August last, and the directors now recommend a further divi- 
dend ol 2s 6d. per share on 50,000 shares aa paid), and 1-. 3d. 
per share on the 25,000 shares {£.1 paid), in reduction ol cost 
ol freehold properties £300, to be added to the res. ve land 
^7,000, leaving to be carried forward £72. The reserve fund 
w ill now amount to £1 17.000. 



the Highest Quality. 

PECKETTS coMoT1 VES 

i-**"^^" Built to any 

Specification or Gauge- 
PECKETT & SONS, 
ATLAS LOCOMOTIVE WORKS, BRISTOL. 



MIDLAND 

RAILWAY CARRIAGE & WAGON CO., LTD., 
Builders of 

RAILWAY CARRIAGES, 
RAILWAY WAGONS, 

TRAMWAY CARS. 
and every description of Rolling Stock. 

MIDLAND WORKS, BIRMINGHAM 

and Abbey Works, Shrewsbury. 



JAMES KENNEDY 8i CO., Ltd., 

69, BUCHANAN St., GLASGOW. 

LIVERPOOL 4 LONDON, EmslMd. ■ V ^^ff ^'J^^^^. **' 

CINCINNATI, f- , a^^3 M -gj^^ T» 

usa 1 >° -.^ mTV yi^A fvO° sawn 

^\<C v TO SIZE 

*° ._ > n .rlr. under 

,1^ 



4*1 



own supervision and 
thlpped direct to any porl 
of Ihe United Kingdom. 

Orders solicited now for delivery during the 
Snrinii of 1911 



In working order the engines will be about 60 tons in weight 
and the tenders over 40 ions when loaded. The order was 
secured by the North British Locomotive Company on account 
ol their abilitj to guarantee early delivery. 

Railway Building in Canada — Figures for the year 1910 show 
that the amount of grading done l>\ the three chief railway 
companies is as follows : — Grand Trunk Pacific Railwav Com- 
pany-, 350 miles; Canadian Northern on fourteen lines), 380 
miles ; Canadian Pacific, 535 miles. It the year 1910 has shown 
good results in the matter of railway building, the year 1911 
will I..- of still more interest. The Grand Trunk Pacific Rail- 
wav will commence construction on its most difficult section. 

I In steel head is not very far now from Athabasca Crossing, 
and the mountain section w ill be attacked in 191 1. The disti 

In tween Edmonton and Winnipeg has !,,-, n materially decreased 
by the direct route given by the Grand Trunk Pacific. In 1911 
it will be possible to reach Athabasca Landing — the outpost 
of the north country- by the Canadian Northern Railway. The 
branch lines of the three great railways opening up communi- 
cation through the centre oi the Province are well under way. 
Sunn- very important branch lines are rapidly nearirig -com- 
pletion. Ann.ng these are the three lines to Calgary from 

roll. 1.1, Vegreville and Saskatoon. Lines are also being con- 
structed mil ol Battleford and out of Prince Albert, so that 
development is well distributed through Northern and Central 
Alberta and Saskatchi w an. 



I'l BRUARY 4, I9H.] 



THE [RAILWAY II Ml S. 



RAILWAY STOCK AND SHARE LIST. 



HOME RAILWAY ORDINARY STOCKS. 






Bury, Ord 

Do. Pref. Cony. Ord. 14%) 

Dp. Dei. Oony, ord 

. i'rd 

DO. l'r.f. | 

il 

Do D. LOtd., No. 1 

I .lil, No. 1 

T.l 

Cardiff, Pref. Ol*., 1 

I 1 

I 

Do. Dal 

Ii I/ondon, Cons. Ord.. 

hii-t fjoodon. Cons 

• ;. Ord 

Glasgow and s. Western Prei. Ord 

Do. Dl I. Ord 

Great Central, Praf. Ord, lC%) .. 

Do. Dei. Old 

Great Eastern, ord 

Great N. of Scotland, Pf. Cny. Or. 

Do. Del. Cony. Ord 

Great Northern, Prel. Cony. Ord. 

Do. Def. Cony. Ord 



Do. Con.. 1 1(6 
Groat Northern [Ireland), Ord 
Great North 4 Cltj Prof. Or. (4%) 
Gt: South. A West. (Ireland) Orig 
Gnat Western, Con 

Highland, Ord. Cons. Capital 

Hull and Barn-], v. ( ns. 

Isle of Wight, 11. Com. Ord. (4%) 



20 
10>2 
59'« 
60 
15 
93'2 
42>a 
3912 
139 

~ 5 3 



63>! 

22?8 

'8 



52 
61 
32 

2C>2 
10^4 
5944 

62 

17 



152 155 



85 

67 

88>2 

64'2 

255a 

'8 

23 4 

2*4 

84 

65 



36>2 
23'2 
12?8 

66^4 

61 
16 
95'2 

50'8 
47'2 

142 

123 



87 

70 

8912 

64 1 

2S 
lia 
314 
3i| 

87 

67 



53 

59 

37>2 

24 

13is 

6714 

63 

18 



85 

67 

88I2 

641j 

25 12 

'8 

2^4 

2^4 

84 
65 



87 
70 
89>2 
643 4 

253 4 
lis 
314 
314 

87 

67 



2812 

414 
53 



23 12 

1258 

673 4 



553 4 56'4 ' 693 4 70U J 6914 693, 



Lond. Brighton & S. Coast, Ord.... 

DO. 1:1. 

Do. Dot 

Do. C.rH on. Rights aboyc 0% 

London and North Western, Cons. 

b Western, Conn. 

Do. 1 Pri (.Cony. Ord 

Do. Del 

Dd, Cons. 

Ord 



ok 

Midland, It f. Cony. Ord. (2j%) 

Do. DeM 
North British', Ord. Prel. (3%) ... 

Do. Ord 

N. Cornwall (L.dlH.) 1% Prcl. Or. 

Do. Def.Ord 

N Ttli I I " 

North Staffordshire, Cons. Ord. ... 
Plymoutl t .iun.,Or. 

Port Talbot Railway and 1 

Rhondda and Swanai a Bay 

Rhymni tp. Stock 

Do. Prel. Hi 1 
Do. D. I. Oi 1 

mot, £10 Shares 

m, Ord 

Do. Pref. (6%) 

Do. Del 

Btratford & Mid. June. Cons. Ord 

.1 

Vale of Glamorgan, Ord 



108 


110 


132 


li4 


85^4 


86 U 


612 


7'2 


101 8 


1 


133 


133'2 


135 


137 


94 


95 


42 


42i2 


115 


117 



114 116 

133 135 

98't 99 

8>i 9 

141j 



1314 
210 
100 
108 



463 4 
127 
212 
41 
63 
26 3 4 
8312 
65l2 
66 J 4 
33'4 



20 23 
131'2 132 
105 107 



143 4 

13912 
143 

66 

4 7't 
129 
312 

41'2 



66 
67"4 

3312 



1412 
12'2 
203 



7612 7712 78 



114 


116 


133 


135 


99 


9912 


8I2 


912 


1412 


143, 


141 


14U2 


140 


142 


9512 


66>2 


4612 


47 


141 


143 


2'2 


3l 2 


40 


40 12 


63 


65 


263 4 


27'4 


655 4 


64U 


68I4 


683, 


67 


6712 




33's 


86 


88 


20 


23 


130 14 


1303 4 


106 


108 


93 


95 




52 


1412 


15 


1212 


13 


204 


209 


96 


98 


111 


114 


312 


4 


81 


83 


123 


IS 


42 


42U 



Debenture Stocks. 



Alexandra Docks and Railway.. 

Barry 

Brecon and Merthyr A 

Do. Do. B 

Caledonian 

Cambrian A 



4%i 98 100 



Do. 

Do. C 

Do. D 

Cardiff 

O tilra! London 

City and South London Perpetual 
East London 2nd Charge A 

Do. 2nd Charge B 

Do. 8rd Charge 

Do. 4th Charge 

Do. EX.R.lst D- Isntures 

Do. WMtaohapel Extension ... 

Forth Bridge 



Glasgow and South Western 

Great Central 

Do 

Do 

Great Eastern 

Great North of Scotland 

Great Northern 

Great Northern (Ireland) 

Great Western 



Do 



Do, 



Highland 4 



Do. 



Hull and Barnsley 1st 

Do. 2nd 

Isle of Wight 

Lancashire and Yorkshire 

London and Biackwall 

London and Greenwich 

London Brighton i South Coast.. 



Do. 



London Chat, and Doyer Arb 4* 



1-.--: 
1890 
1999 



107 
129 
117 

89 
108 
105 

82ii 
1C6 
110 
114 
122 
136 



79 
105 
102 

82 14 
109 
100 
107 
120 
115 
111 

98 



102 
101 
98 



109 
131 
119 

91 
110 
107 

83U 
109 
112 
116 
124 
138 

70 



81 
107 
104 

83'4 
111 
102 
109 
122 
117 
113 
100 
100 

76 

76 



Debenture Stocks 

North Eastern 3 

North London 44 

North Staffordshire 3 

Di ion A B.W. Junction i 

Port Talbot Railway and Docks ... 4 

Rhondda and Swansea Bay 4 

Ithynnioy Perpetual 4 

Sheffield District Permanent 4 

South Eastern Perpetual 4 

Do 5 

Do 81 

Do 8 

Taff Vale 3 

Tottenham and Forest (,at.. 4 

Vale i f Glamorgan 

Wluteehapel and Bow 4 



'continued ) 






London and North Western .... 
London and South Western A . 

Do. Consolidated 

London Tilbury and Southend . 
Metropolitan 



Preference Stocks. 



Do. A 



Metropolitan District ti 147 



Do.- Perpetual 1 1903-5) 

Do. Prior Lien 

Hidlan . 

Midland .V S.W. Junction A.. 



Do. It 



Neath and Brecon 1st 4 

Do. Al 4 



irth British 

. Corn. (Launcestou £ Delabole) 



. and Kail. 4}% 1st 

2nd 1 ref. B. ' 

k (1st) 

Do. 4% I lord 
Caledonian i 

Do. 4% Do No. 3. 

Do. 6% 1878 

Do. 4% 1HSJ 

Do. 4% lHS7Conv 

Do. 4% 1902 

Do. 4 

Do. 1 

Cambrian No. 1,1 . 
City and South Lond 

Do. 5% 1896 .. 

Do. 5% 1901 

Do. 6% 1903 

Do, i . 

■ It. 1883 
Do. 4 

Do l 
Glasgow and South '.'. 

! I -.- ■ 
Prel. 1891 

Great Centra 

> ony. l'r.f. 1~7J . 
Do. 6% Cony. Pref. 1-71 , 
Do. 6%Conv. Pref. 1876 .. . 
Do. 6% ( 

Do. 6% Cony, IT. !. 1881 
Do. 4% IT. :, --■ 

I :el. 1894 

Do. Sj",, 1893 
Groat North of Scot:. 

Great Northern 4".j Perp. IT. f. 

Do. 3% I 



Preference Stocks 

(continued). 

Gn st Wi ■ ij6 

Highland Class A iA% 108 

116 

Do. i , 92 

Do. 8*% l'r.f. Stock 1897 77 

I ' Stock 1898 77 

Hull and l I ...... 91 

Do. 1 ■■„ l'r.f. 1907(70 I paidj 101 

... 95 
Lancashire and i'orks. Con. 3 ,, Pref. . 8H2 

Do. 4% . l 06 

1> 1, 1 . Pri f. 19 8 . 108 

London Brighton, etc., < ... 132 

Do. Second Cons. ■'. , 1 .51 

London. 1 .... 33 

Do. 4A% Second Pref ( £2 

84 

Lou. AN f 1 10 

Do. 1 1909 -.09 

I.on. d; South w, 1 108 

I'o. 1 ., P. rp. Pref. l~s| 10 7 

93 
Lond. Too I r ,f. 1C5 

. Pref. 1904 102 

21" 
Metropolis I no 

"■■ 8 kPref. 87 

85 
: 
Do. 
Midland 2*"„ 1', rp. l'r.f 68 l 2 

63 

North Id: < . .. 1(J5 

Do. I-,. J 2 ^ 

Do. I . , ? 7 

117 
Do. 4j% Cony. Pref. 1875 1 1 , 

Do. 5% Cony, l'r.f. 1879 .... i? 7 

Do. 1 ,1 0.1 I'rcf. 1884 103 

Do, 1 !Q3 

Do. 1 ,qj 

10? 

ich 

Do. 1 ., Jo» 

103 

I 
Do. I 

Do. 4% 1891 
Do. 4 



4% L.I ■ 98 



138 
110 
119 



103 

97 

8212 
108 
108 
134 
Mi 

a-j 

6J 

86 
11. 
1 ! 

uc 

109 
95 
107 

104 
312 



13 

129 

11 I 
1 1-1 
1, - 
105 
10S 
105 
1. 5 
1 35 
1: 
105 
1 C 3 

I 1 

II 3 



126 



THE RAILWAY TIMES. 



[February 4, 1911. 



RAILWAY STOCK AND SHARE LIST. 



Colonial Railways. 



Nam e 



Foreign Railways. 



Closing Prices. 



Name. 



Closing Prices. 



104 

1H4 
104 

108 



1 2 •' 



A Year Ago. 
Alberta P.y. ft Irrigation, Cap. Stk. 150 155 

riBay lst.Kt5 — 

Atlantic 4 N.W. ;,;„ Guar. 1st Mt. 116 118 

Beira, 4S% Mt. Deb. Bds 96 98 

Do. 6% Income Deb. Stk. . 62 64 

Buffalo 4 Lake Huron, Or<=, ' 1*1.. ul. 

Clgry. & Edmntn., 4% Cons. Debs. 
Canada Atlantic, 4% Cons. Int. Mt 
Canadian N. Ontario, S^% Mt. Dbs 
Canadian N. liuobec, 4% Perp. Bbs 
Canadian Nor., 4%, 1st Mt. Debs.... 102 
Canadian Pacific, Shares.... 1831? 

Do. 4% Non-Cum. Pret 103 

Central Ontario, 6% 1st Mort. . 106 

Dawson Gr.Forksft Stewartfiivi r6% 19 
Demerara, Ordinary Stock . i 41 

Do. 7% Perp. Pref. Stk .'..7' 118 

Do. i% Extension Pref 92 

Dominion Atlantic, Ord. Stk 15 

Do. 6% Non-Cuni. Pref. Stk. "I 38 
Emu Bay ft Mount Bischoff i 4 

Grand Trunk Pac. Branch 4 "„ lid's. 100'j 
Grand Trunk Pacilic, 1st Mt. Bds.l 82>2 
Grand Trunk of Canada, Cons. Stk 2058 

Do. Guar. 4% Stk 02 

Do. 6% 1st Pref. Stk. Non-Curu. 10312 

| Do. 6% 2nd do do. 93I2 

Do. 4% 3rd do do. 5C1« 

Klrks,i|,..Kitn. Streams, 5% 1st Mt ' 1C6 
Manitoba S.W. Col. 5% 1st Mt. Db. 1 15 
Maehonaland 1st Mori. o'V, Debs. 96I4 

D ». 5% Guar. Mt. Debs 

MidlandofW. A .,«• •, ,«. urn. Income Dl 

Nakuspft SIocan,4%Bd8 

Natal-Zululand.li'V-, 1st Mt. Debs 
New Brunswick, 5% 1st Mt. Debe 

Ontario A 1 , , ipital Stk 

Qu'Appellc, Long Lake. & Ssktcvn. 
yuebi-c* Lake St. John, 1st Mt. lids. 
Quebec Central, Capital Stk. 

Do. 4% Deb. Stk. lied 

Do 8% 2nd Deb. sik. Red. .. 

Income Bonds, lied, 

, 1st. Mt. Debs. .. 

1st Mt. Debs 

Ittawa, 4% lstMt.Bds. 



,4%lst. Mt.Bds. 101 



Last week. 
145 150 



114 116 
9812 10012 



85*2 
123 4 
101 



2151 2 216 
104 105 



Yesterday. 

145 150 

94 96 

114 116 

9812 1001: 



100 102 
214'2 215 
104 105 



110 115 110 115 



Hbod. 



a, .".-, 



412 


414 


43, 


414 


43, 




99 


101 


99 




83 '2 


8II2 


8212 


81 1 2 


8212 


20 - 


26 


2614 


25*8 


25?8 




91 


93 


91 




104'2 


106 


108 


1C6 


108 




96 


97 


96'2 




503 4 


£512 


56 


54 


5412 




106 


108 


106 


108 


117 


112 


114 


112 


114 


97U 


98'2 


IOOI2 


99I2 


IOH2 




102 


104 


102 


104 



) A Year Ago. 

1 1 Alcoy * Gandia, 4% Debs ' 26 28 

'I AntofagastalChililftBlvia, pf. Ord. ; 98 101 

Do. Def. Ord 127 129 

Do. 6% Cum. Pref 105 107 

Arauco, Ord 41 8 43 8 

I Argentine Gt. Western, Ord. ..'..'.'.'.'.'.' ' 101 103 

Do. 5% Cum. Pref 109 111 

Argentine NE., Stock i 4212 43I2 

Argentine Transandine, 7% Cm. Pf. III2 12>2 

; Arica 4 Tacna, Shares ! 3 5I0 

Bahia-Blanco4 N.W., Gnar.Stk.... 88 90 

n-n' ' „■ «°o Guar. Stk 99 101 

Bilbao River ft C'antabrian, Ord. ... 8?8 9^8 

Bolivar, 5% Pref 7 16 9.. 

Bra;-.il Great Southern, 7% Pref. ... ' 5 513 

Buenos Ayres ft Pacific, Ord. Stk.... I 88I2 89'2 

Do. 6% 1st Pref. Stk. Cum. 109 111 

Buenos AyresCent.,4«%lstMt.Dlw. 1 92 94 

Buenos Ayres (it. Southern Ord. Stk. 122 12' 

Do. 4% Extension Shares... 1 1 5 e ijt, 

Do. 5°,. Pref. Slock .124 126 

Buenos Ayres Midland 5 ",'-. Pref 11 16 13 1B 

Buenos Ayres Western, Ord. Stk. ... 125 126 1 

Do. 5% Pref 121 4 123. 

Cartagena(CImbia.l5%lstMt.I>bs. 1 75 76 

Central Argentine Cons. Ord. Stk. 9812 99I2 

Do. Deferred Stk '90 92 I 

Central Uruguay Eastn. Extn. 7I2 8 

Do. 6% Pref. Shares ' 9I2 10 i 

Central Uruguay Northern Estn. ... ( 6 J 2 7 I 

Cen. i ruguayof Montevideo, Or. Sk. ] 83 85 

Chilian Transandine, ."',-, Debs 1 95 96 ! 

C"bii,.bo,i. Nat;. ,.., '.!■.■■., ,m, !',,;;; 86 88 

imb ,nNal C.i . i...i 1, |,i,s. , 68'2 69I2 



103 


105 


103 


105 


142 


144 


140 




104 


106 


104 


106 


23 4 


4 


3?8 


41 


103 


105 


103 


105 


111 


113 


111 


113 


45'2 


4612 


46 




IU2 


12 


1112 


12 


314 


334 


314 


334 


91 


93 


92 


94 


101 


103 


101 


103 


914 


9^4 


9'4 


93 4 


21 32 


^32 


2I32 


"32 


514 


534 


514 


53 4 




93 


9012 


91 12 


107 


109 


107 


109 


96 


97 


9612 


9712 


1171s 


II8I2 


118 


119 


10?8 


His 


11 


III4 


II8I2 


119ia 


119 


120 


58 


3 a 1 


58 


3 4 


1S2'2 


1231? ' 


123 


124 


113 4 


1214 


113, 


1214 


75 


76 | 


75'2 


7612 


06 


107 


10512 


IO6I2 


97 


99 


£7 


99 


75s 


7?8 


753 


7?8 


912 


93 4 1 


912 


934 


6?i 


71 8 


6 '8 


71fl 



e. 



OH 



95'2 9612 l 96 97 





61 


97 
64 


95 
61 


9, 


1212 


18"2 


1912 


I8I2 


1912 


101 


100 


102 


ICO 


102 




.1 


78 


76 


78 


113 


114 


117 


1 14 




99 


1C012 


10212 


102 


104 


87 


88 


90 


881s 


9012 


103 


101 


103 


102 


104 




71 


73 


71 


73 


105 


1C( 


102 


100 


102 


30 1 


26 


28 


' 6 


2') 


103 


101 


103 


102 




412 


21i> 


,1, 


2 


3 



American Railways, 



Alab. Gt. Southern, Ord. Shares 

Do. Pref. Shares 

Alab.N. Orl. Ts ,4 Pa. . U",, "A" bid. 
Do. "B" Deferred 

Atchison, Topi ka ft Santa Fe Com 
Do. ;V,'„ N,,i, Cum. Pref. 
Atlan. 1st Leaseil Lines IleiitalTrst 
Baltunore ft Ohio, Con, 11,011 

Do. 4% Non-Cum! i?fd 

Chesapeake ft obi,,, 1 „, n , , 

Chicago Gt. Western, Com. Stk.Crts 

Do. 4% Prefd. do. . 

Chicago, Milwaukee* St. Paul, Cm 

D 1 Pr. Id 

Cleveland ft Pittsburgh, , 
Denver ft Rio Grand) , C01 
Do. [New Co.] do. 
Do. r.% Non-Cum. Prefd. 
(New Co.j do 



Cordol.uft Iiosano, I2„ 1st pf. Stk. 

I>o. 4% 2nd Pref. Stk. 

Cordoba Cen. 5% Cm. 1st Pref. Stk. 

Do. 6% Non-Cum 2nd Do. 
Crdba.Cen. B. Ayres Extn. 6% Dbs. 

Costa Rica 

Cuba Hailroad, Pf. b %"Nun-c'uin" 
Cuban Central, Ord. . 

Do. 54% Pref '.'.'.'.'.'.'.'.'. 

Ciiciita, f. n , 1st Mori Di bs, 
EgyptianD, ta.Si Cm. Pf. Shares 
I.nii. Rios, I rrd. Stock 

Do. t" ltl'rel litjek 

Do. 2nd Pref. Slock 
Grand Russian, I",, Nicolas B.ls. '" 
G.N. C, in Colombia ..'.". Mt. P.ds. 
tireat West, of Brazil, Ord. 

Do. 6% Prefd. Shares 

Guayaquil ft iiuito, liy.Co. .->",, lids. 
Kico{AcplcotoVeraCz.) 



67 



,8 



80 



63j ' 914 



Inter. 
Italii 

h 11 1 
La i, 



Erie, Commi 

Do. 4% Non-Cum, 1st Prefd. 

Do 1 , do. 2nd do 

Great Northern (U.S.A.) Prefd. 
Illinois Central, Common 

Do. Leased Lines, 4V., 

' ' I iIIO.ll 

Do. No,, 1 ull 1 1 

• lib 111 id Nil hull,. 
li' '..Sl.Paiilft S. :■; 

4% Leased Liui sStk 1 



11714 
1051: 
107 
11312 



1173 4 
1C612 
109 
114 



81 '. 

Hll" 
2b'; 



10634 

105*2 

106 
106'2 



3 I 1 1 



10934 

107 

1CM 

no 



136 138 ' 129 
14312 1441? 12612 
ICO 103 



Louis 



353 4 
13! I;. 

73i2 
104 



Do. 

Natl. "I .1 

' '. ,1 ,'" o''"'' ^ 

..... .!:.'."' H9 ' 2 

Norfolk ft Western, Conimun 

1".. 1 , \", ' 

North, n. Pacific, Capital sik. .... igg 

Kttsbrgh, K. Wayn, 4( h.'.i.i.', . / I " 4 

mmon ,' 

Rock Island, 1 1 no, i,,o , 1 . " 

[1 rred gi 4 

Southern 1., , stk. JI71, 

Southern, Common stk. v^u 

1. stk. 661- 

1 ' ' ■ I ' if SI 1 .... ,£3 ' 

I 11100 Pacific, I'uii.i, , 

'"' 1% Non Cum. I'refd inn 

1 rmnon. ',,,, 

1 .S, Steel ' . . ' 

'"•' .... 125 



.111. -Jassy, Guar.5% 

Leopoldina Ord. stork 

Do. 0S%Pref 

Lima, Shares 

Manila, 5% Pref. 
Mexican, Ord. Shan Cat . .sik 
l'o. lsl Pref. K% do. 

Do. 2nd do. B% do 

Mexican Eastern 0*-',, Debs. Ii.d. 
Mexican Southern, Ord. Stock '" 102' 
Mexico N.Wesl. 1-11 r."„ 1st Mt. |;,|-. 82 
Midland I rilguay, Ord. Stock lb 

Mogyalia.o",, Di b. lion, Is . ] Q 1 

Moscow-Jaroslaw, 5% Bonds Guar. 101 
Namur A Liege, I ird. 12I4 

Do. Pref. Guar I',','.,. [" 2 7 1 2 

Nas,jo-OscrshmiiNew--l",,lslMt.lis 

Nitrate Ord 

North East, of i riii-uav, Cud. . 
N.W. of Lruguay, (i"„ Kt p r , (. stk 
Northern of Prance. ii%obhg. li,.,]. 
Cltloiiiali liy. of Anatoha, ;".", 10, .. 
Ottoman iSmyrna to Aittin) Ord. ' 

Do. 6% Cum. Pref. ... 

Otiioi.lSiiina.Mi's.lia.ftEx.il'.ljs 

Paraguaj 1 1 ntral, Ord 

Pari-, Lyons ft Med. libs. lied. 
Philippine, 1st Mort.4% s. F. Goid 

Pries. At,,.. A Pll'iisus.j),".,lstMt.lis 
Prto.Algre ft N.lliul ■ I! . .7 ,-, 
Puerto Cabell" ft Valencia 



1114 
1212 

47'2 

90 

73 

99 
512 

231s 
69i2 

1138 

21 8 

314 

3614 
13312 

74b' 

106 
104 I 
83 

17 I 



104 106 I 102 



102 
83 4 
45i2 
9612 



101 
6I2 
2312 
67 



334 


414 


934 


1014 


100 


102 



314 

5134 
14H2 

95 

1 C 2 

10412 
863 4 
I6I2 

101 

I 02 

12'4 



11U 
314 
31 2 

5214 
142' 2 

96 
104 
105 '2 

873 4 

171; 
103 
104 ' 

13 



9212 931 2 

69 72 

99 101 

6I4 6'2 

2212 23'2 

66 67 

11 III4 

3 314 

314 312 



I6I2 
101 
102 

12U 



1712 

103 
104 



17'2 
100 
2H2 
22i 2 



1712 
100 
2112 
22'2 



412 


5 


412 


5 


1614 


17-, 


I6I4 


1 , 


88 


9. 


88 


90 


90 


92 


90 


92 


2 ' 1 


314 


23, 


"1 


2--1 


314 


234 


314 


26 


27 


26 


27 


1 5 .1 


14i2 


133 4 


14^2 


B4 


89 


84 


89 


1*4 


21 4 


13 4 


214 


4"4 


434 


4I4 


4. 14 


202 


204 


203 


205 


112 


114 


112 


114 




Febri--vrv 4, 191 1.] 



Till UMI.W \Y TIMES. 



1 :~ 



OFFICIAL TRAFFIC RETURNS. 



Barry 



ff . 1 k 1 nding ' 

ToUl for i»k 

Aggregate fur 4 
MU.s open 



f 31 7 1 ■■ ■ 




Croat North of Scotland. 



Week 



J inuaiy 28 



ti.ssi.s, ,-tc 



Caledonian. 



ling January 29 1911. "1910. 

Passengers, etc £24.465 £22.688 

Goods, etc 58.986 50.836 

Total for week £83,451 £73.724 

Aggregate for 26 weeks 2.341.375 2.249.925 

Mile* open 956 '4 961 U 

I ■ this w, • k. ; J.. 27 If ■ ; . CM1.450 



Total for week 

Aggregate fur 26 weeks 
D 

00. thta ww k. £439 In 



Cambrian. 



1911. 1910. 

£3.330 £3.122 

4,920 4.689 
£8,250 

£250,640 £242.459 

336 336 
. 26 week.., £8.181 

Croat Southern and Western. 

1911. 1910. 

£'.0,842 £10,529 

13.489 12.501 

Total forwoek £24.331 £23,030 

Aggregati I 4 £98,894 £92.544 



Metropolitan. 



Total for N ■ 



V 









1911. a 1910. 

£15.592 £15,253 

1,430 1.366 

£16,619 

£67,018 



£17,022 

£69,125 

78 1 



■ 
Metropolitan Dlxtrlct. 



,H ■ 



Week ending January 29 

Passengers, etc 

Goods, etc 

Total for week 

Aggregate fur 4 
Milea open 



1911. 
£2.232 
2,152 



Passenger*, ete 



- week 




£11,558 

Aggregate r 4 . . £47.252 

open 



Inc. this 



. k. £4o In 



. £565 



Central London. 




Week ending Jammn 28 1911. 


1910. 

£5,602 

£22.274 

6I4 


Aggregate for 4 £22.130 
1 


■ 




City and South London 




lull. 
Total for week £5,420 


1910. 

£3,380 

£13.449 

714 


7I4 


in.-, this week, £40 Inc 4 are. lis, £797 



Dublin and South Eastern. 
Week ending January 27 1911. 01910. 

£2.711 £2,609 

Goods, etc 1.697 1.450 

Total for week.. 
aggregate ton 



B349 1 



160 
eks. £559 



160 




Total for week £12.678 £11,987 

i ... £48.786 i'50.881 
- ■< 89'2 87 



Inc. this week. £691 



. 4 weeks, £2.095 



North British 
Week ending lanuary 

Total for week 

• ir 26 weeks 
Milea open 



£78.853 
2,509.557 2.420,700 
1, 524*4 



Lancashire and Yorkshire 



V. ■ ■ 1 1 inling January 29 


1911. 


1910. 




6.967 £6.762 




£8,806 
£35.618 






£34,457 




139 


139 



Inc. this week, £341 Inc. 4 weeks, £1,161 



Week ending January 29 1911. 

Passengers, etc £34,500 

Goods, etc 73,102 

Total for week £107.602 

Aggregate for 4 .415,042 

□ 595 1 2 



Claseow and South Western. 

Weekending January 28 1911. o 1910. 

Passengers, etc £12,100 il0.500 

Goods, etc 18.800 16,400 

Total for week £30.900 £26300 

Aggregate for 26 w,,k- £918,800 £888.300 

Miles open 443'2 444U 

Inc. this week, £4.000 Inc. 26 weeks, £30,500 

Grea t Cen tral. 

Weekending Jai 

Passengers, ete 

Goods, etc 

Total forweek £80,100 £73,400 

Aggregate for 4 »"k £321,500 £305.300 

616'2 609'2 

Inc. this we, k, £6.7 -i [ 1 ei.200 



Inc. this ' 
Londor 



k. £11,509 
Brighton 



4 - 




North Eastern. 

2S 1911 

•itc £48,169 

140.937 

Total forweek £:89,106 

4 '"5,518 

1.734 



ek. £26,002 



a 1910. 

£40.843 

122.261 

£163,104 

£544.530 
1.722 



South Coast. 

Week end 28 1911. a 1910. 

Passengers, etc £35.579 £34,459 

Goods, etc 17.478 16.760 

Totalforweek £53.057 £51,21S 

Aggregate lor 4 weeks £214,909 £209,276 

Miles open 437 

f 1,838 



North London. 



• 






1911. 

£17,700 
62.400 



a 1910. 

£16,500 
56,900 



Inc. 4 weeks, £5,633 
London Electric. 



487 



Week end 



Goods, etc 

Total for week 

J 
Miles opt a 

" • k. £21? 1 w. 



1911. " 1910. 

£3,83C 

4,420 . . 

£8,2 5C 
£32.446 £33.071 



eks, £625 



1S'4 



North Staffordshire. 



Weekending January 28 1911. 

£13,935 
I £57,670 



21U 



Inc. tins w. .k, £5 -J 



London and North Western. 



Creat Eastern. 

January 29" 



1911. 
£44,800 

Goods, etc 51.300 

Total forweek £96, ICO 

Aggregate for 4 '570.400 

Ml' ■ " I 

Inc. this w. ,k £4.100 I 4 



1910. 

£43,400 
48.600 

£92.000 
£567,100 



Creat Northern 

,,ry 28 



Weekending January 29 1911. 

Pass, nfers, etc £100.000 

Goods, etc 182, 0C0 

Total forweek £282,000 

Aggn gat for 4 ' "86,000 

1.965 
£29.000 Ino. -. 



Week . ^9 

£4.500 £4.300 
_j 14.860 

AJ!e alf0 ,*.' C ' k , £19.360 £17,888 

Aggregat, tor 4 

I 

- 



\s e.k ending Jjiu 



Rhymnoy. 

iaTj 29 



this 



Total for week 

Aggregate for 4 

D 



1911. 

£39,000 

69,5 00 

£108,500 

£432.200 



a 1910. 

£38.300 

64,200 

£102,500 

£425.600 

1 .003 



London and South Western. 

' 1911. 1 

Passengers, etc £51.900 ££ 

30.100 i 

Totalforweek £82.000 £( 

Aggregsti I 4 £327.500 £3: 

'.! 1,1 



Total for week 

Aggregate for 4 £.is!925 




South Eastern and Chatham. 

iafy 28 1911. 

£55.045 £50.918 

22,118 

- 



week. £6.000 




Creat Northern (Ireland). 

27 1911. 

Passengers, etc 

Goods, etc 

Total forweek 

Aggregate for 4 

I 



- 
London, Tilbury and Southond. 






open 

•- £6.423 






Week ending January 29 

Goods, etc 

Total for 

Miles open 
Inc. this ? 





134 : 



Total ! 1 

'i 



this week 



a 1910. 




128 



THE RAILWAY TIMES. 



[February 4, 191 1. 



OFFICIAL TRAFFIC RETURNS. 



BRITISH AND IRISH RAILWAYS, &c 



Latest Earnings Reported. 



Belfast 
Brecon. A Mer. 

\ Work. 
Cock. I- 

Cork H. ,\ SC... 
Ck. B'rck. &P. . 

East London 

ud City ... 

Isle of Mao 

Isle of V. 

Isle of W. Cl nt. 

Liverpool < Her. 
Mane, ('anal 

M'port. .v Car.... 

Mid. a. S.W. Jn. 
Neath >'■ 

l'ort lalbot 

Rhon. A S. Day 
Stratford it M.J. 



89 I 

HI 

111 

41',, 
1! 

ai 



Wk. or Month. 



.I;,ii 


2 7 


.l;Ui 


29 




29 


.Inn 


2H 




'.'i 


Jan 


27 




Jan 


28 



2,273 
l.'j:.l 



2.220 

1,1177 
1.171 

I ,i;7s 

2,503 



779 



£2.1.56 
2,175 

1,335 



4 8,1 

5211 
1,223 

2,189 
1,903 
1.368 

1. ioa 

2,81.11 

2, 125 

654 



Aggregate to date. 



123.025 
8.892 

4.7117 

■J, -J'. p;i 
11,(1115 

1,146 

17,44(1 
1 ,399 
1 ,622 
1,921 
2,341 
r,..5.is 

8,664 

s.23s 
6,0 1 I 
6,462 
10,758 
9,913 
3,352 



1910. 



FOREIGN AND COLONI AL— Continued. 



ill. 14-1 



Mileill'i 



FOREIGN AND COLONIAL RAILWAYS. 



i irnings Reported, 



Aggregate to Date 




Sthn. Punjab ...e 
Ludha. Est. 
Sutlej Valley 
4,s7i South. Indian. ..e 

2,556 Taltal a 

6,078 Teniiscouata ...6 
1,083 I 11. Rys. Hav. a 
16,454|iUrug. North ...a 
6,199 W. of Havana a 
1,534 W.P. & Yukon 4 
1,879 Yucatan United*: 
2,251 Zaf. & Huelva a 
5,133 - 

534,059 
8,731 
8,041 

5,846 Railroad 
6,231 

10,281 , _ 

o 10 7 Alab. Gt. Sth. 
2'fiQO Ala.N.O.&T.P. 
" jAtc.Top.&S.Fe, 

Bait. & Ohio 

Cent, of Geor. .. 

Cent, of N. J. .. 

Ones. & Ohio .. 

Chic, ct West 

Ch. Mil. & S. P. 

Cin. N.O.&T... 

. i Cl - 

Denv. & Kio G. 

Erie 

. Gt Northern 

"-'',,! UlinoiB Central 

i -'' nJ Louis. A Nash. 
Minn. ,v St. L 
M.St. I'. S. S.M 



72. 
117 

li'-i 



Latest Earnings Reported. Aggregate to Date 



Jan. 21 

Hue. ai 

I i, , , ml., : . 

i lecelmber. 

Jan. 28 

I i, ■ , rnbi i. 

Jan. 28 

Jan. 7 



. 28 



December 



19111 11 



89,(1111 
20,064 
13,020 

r.,27, "HI 
2.1, 1 52 
1 5,851 
.. ,, 160 
2,000 
5,234 
4,250 
(8,0 'ii 
11,447 



1909-10. ' 1910-11. 



93,3.-,2 2912,1132 

19,100 53,048 

50,190 

:,,(l,-,,.-,l'i2 122,31,339 
23,917 124,380 



I (',,432 
, . 19 
l,8i 
4,8011 



112,650 

:,ri.-,,9lll 
11,1911 
l.-.H,97C, 



10,914 

118,8(11 



UNITED STATES RAILWAYS. 



Mileage. 



Latest Earnings. Reported. 



3,1.193 

1,460 

Bunia c 1,340 

(.an. North b 3,386 

Can. Bacifie ...', 10,276 

Ceil. Argentine" 2,043 

Central Urug.... ' 271 

East Exten. ° 277 

North Lit. ..." 182 

West Exten. a 211 

Chillague " 

Cordoba Cent. a 

'Cent. N. Sec. a 

B. Ay. i'.Uen." 

Cord. & Ros. . 

a u 

Cuban Central ** 

Del. i in. it K. c 

IDeiuerara 

West Cast., b 

Detr.nl I Mil. ..b 
lioin. Atlantic b 
East Indian . c 
1 gypt, i 

Emu Bay (i 

Entre Ri i " 

G. Tk. of Canada 
Mam Line u 3,536 

Canada At], a 463 
G. T. Wi : : 

Det.G.H.&M.a 189 
Total 
Gt. ind.P 

...V, 1,1 l; 
Guay. & i 
11.11. N 

.Inter.. 
i.a G. S ' 
Leopoldina ..a 

, 

Manila ' 

□aland a 
k 

\ w , 

Mel. I ruguay a 

Nitrate a 

N.W. of l rug. b 
Ottoman i, 

Parag. Cent. ...o 

Peruv.Corp. I, 

||. Pel. .'(, 

L-St.J.6 



9,790 
*,19S 
1,916 



1.486 
7,511 

337J 
1,982 
2,777 
2.231) 
7 129 

1 1 

4,595 

1,027 

2,523 

. Kan. AT...: 3,072 

Nat. of Mexic,, 1,750 

N. Y. C. Jt H. R. 

N. Y. Out. & W. 

Norf. iS West. ... 

Northern Pac. ... 

St. Jos.& G. I.... 

St.L. & San. Kr. 4,726 

St. Louis S. W. 1,567 

Southern 7,050 

1'exas & Pacific 1,885 
•> eni'-Vi'i Wabash 2,514 

S:ioti: Whl ' AL --g^ ml 

74,81,3 



1909-10 Wk. or Month. 1910-11.1909-10. 1910-11. 1909-10. 



309* 1-1 «'k. Jan. 



9,791 
3,992 

1,916 






ii wk, Jan. 

'.,.., i , bi i . 
1,895 2nd wk, Jan. 
1,486 1st wk. Jan. 
7,511 November. 
337J 1st wk. J.m. 
1,982 November. 
2,776 2,,d wk. Jan. 
2,170 November. 
6,961 December. 

4,551 1 imber. 

4,388 2nd wk. Jan. 



jiiu.im; 
O'.is.ooo 

9,983,01.18 
0,8 11, 820 



1,027 
2,524 
3,072 
1,732 
3,087 
545 



4,726 

1,5117 
7,050 
1,885 
2,514 
142 



id wk. Jan. 
■2nd wk. Jan. 



■, , , , i n 



,3811,417 -2,1 1'.ln, 1191 
,1112,000 3,313,000 
,II7L213'4 1,5117,7(15 
|'«, .377 1,1,1127, 7sl 
2 2.991 11,721,919 

,i..;ji Hi 7.i.;!:m 



.1". 1,589,566 
,699 12,711,103 
,048 12 995,946 
65528 J 
,192 34,898,507 
,637 29,374,786 
1,179 27,867,893 
:,790 2,823,721 



711 



WORKING STATEMENTS AS LAST REPORTED. 



Gross Earnings. 



1910. 



19119. 



V.u A labaiuaGt. Southern Nov. 

17*,565 July 1 lo Nov. 30 .. 

_ I Atcu.Top. Asanta re.. Nov 

July 1 I. Nov. 31.1 

Baltimore and Ohio.. Dee 

July 1 to Dee. 31 

Canadian Northern .. Nov 

July 1 to Nov, 30 ■.. 

Canadian Pacific .... Nov 

July 1 to Nov. 39 . 

'mV.,|' Chesapeake and Ohio Nov 

\ ■'-,"> July 1 to N 

_' ' Chicago Great West. ..Noi 

115,5(111 79,28s July 1 t° Nov. 30 

4,58,000 66,26,000 Denver A Rio Grande 

184,023 177,191 



199,217 
29,373 
95,11111 
32,(121 



50,900 


16,65,000 


68,64,100 


In (.22 


13,643 




118,1100 


70,000 








26.16,793 






14,16,291 


1,2, 111 III 


160,350 


1,734,090 




2,2 in 


71,0011 



Mam Line 

Jul}- 1 to Nov. 30 
( tiinil.i Atlantic . . 

July 1 to Nov. 30 
Grand Trunk Westrn 

July 1 in Nov. 30 
DetroitGr.Hv.A.Mil. 

.lull 1 1 

Total for System . . 
Jul) 1 to Nov. 3il 

Louisville A Nashville 



21, II. 1.37(1 
1 I ... 1 . 1 ■ ' I 

, , Mlnu. St. P A. S 



.;ii 



,..M. 






Kill 
97.i 
340 

31 

210 

252 
a 1,392 1,39 
C 205 20. 

.-; 219 20, 

I, 1011 101 



3111 7 h 



111 is , uibei 



- 161 
10,300 


7,|l 






28,300 


21,191 


.,,i,l 


1,290 


797,011s 




561,607 


l.li, i I i 












1 ..- :; 



July 1 to Nov. 30 
Miss. Ivan. A Texas . . Nov 

July 1 to Nov. 30 
National of Mexico N,n 

July 1 to Noi 30 
New York Out. A West. Nov 

July 1 to N 
aiul Reading 



I'liil. 



v 



511 






Coal and Don ( o. 
Jnlv 1 to S i\ 






,1 






53 667 rota] both Comps. 

I7 ' 7 | .1,01 i to \o, 3i 
■ .;'.-,. I'm .Cm cli. A si.. I, 
.aVi.ni' Jan. 1 to 

: , i i it. Jos. and Gr. lsl. . 

, ;i - July 1 to Oct. 

■ Louis A San. Fran. 

i . ,i; July 1 to n,o : 

iitheru Railway 
0|-,',4 ,,, July 1 to Nov. ; 

^(,'357 Cnlon Pacitlc .... 
84,481 July 1 to 

.hash 

1. 1, in, lulv I to Nov . 1 

,i.,ll.,i 



8382, .59 
1,889,125 
9,989,111.18 

■Hi ,071, 213 
I,,- 11, 8-211 

II, ,91,1,377 
1,565,400 
(,,131,200 
9,113,238 

17,1182,3118 
2, 771, Kill 

14, 27 1,1 If. 
1,K'7, ,--! 
5.538, 5113 
2. 2111,11. .2 

11,0 12.21- 

£614,300 

3, no,, ,01 10 

3(1 ,5110 
173,700 

98,0110 

.5(11,700 

41,500 

178,100 

7911.100 

3,919.100 

84,871,173 

23,173,174 

6,161,760 

13,227,737 

5,217,9112 
26,57 1,301 

71111,571 
1,241,232 
1,118,9.11 

19,041,129 
3,871,019 

I" 1,088 

8,02 1,010 

3I..,31,217 

in, urn, P',5 
I- .,079 
644,028 

1,033,98- 

,,3,1,1,22 
2.1,11011,135 
8,5011,1113 

1 1,178,065 

11," 
1 ;, '... 64 , 



1910. 



$31 1.8,11,82 
1,1153,1182 
9,1128,529 

0,984,581 

: , . 

1,517,5011 
5,1129,100 
9,075,9111 

■11,710,754 
2,1157,437 

13,149,265 
1,064,253 

5,038,717 
2,117,0511 
10,555,446 

£609,300 

3,013,-00 

12,900 

193,2111) 

I, i|, 'no 
5:11,100 

170. -no 



7. ..17, 108 
2,153.159 

11,858,5811 
1,910,8; , 

23,119,81,/ 

(177,327 

3,812,308 

4,1100,8 18 

IS, 311,232 



7,532 



2,838,81, 

27.585,313 
172,227 
615,907 

3,792.527 
18,120,167 

5,0-9,215 

2122.,,, .-'"1 

12,584,899 



t lo-,.;,;,, 

574,455 

3, 712, 170 

17,271,005 

1,527,942 

13,3115,437 

558,900 

2,131,800 

3,737,122 

19,530,171 

93.,,019 

5.0-7,783 

2-5,558 

1,51,11,547 

, -l,!i'.'7 

5,151.1117 



19,0511 
10,100 
84,650 
13,600 

31.100 
101,900 

7'.17032.S8 
450,190 

2.550.8 11 

4,318,5)1 
I 1,012,085 

184,238 

1,1(111,328 
0,1,35,423 

279,995 

>r. 73,808 

1,7111,323 

I., 013, (115 

(127,739 

40,273 
105,1,09 



1309. 



on 



,1..,, inn.!-, 1 in pesetas, k 



8,1112,1.51 
1,001,211 

19,052,076 

,115112 
12219,.,ll 

\l, sican dollars. 



$121,237 

481,520 
3,1118,274 

10,953,259 
1,915,957 

15,162,783 

547,4 00 
1,773,60(1 
3,092,358 
16,954,45 I 
1,082,02(1 
5,427,083 

507,1011 
1 551,1195 

0111,3111 
3,381,826 

£155,100 

.805,800 

13,500 

32,80(1 

■211,500 

141,200 
111,200 

11.7.0 
199,0(10 

J 1,8311, 10.5 
.8,702,825 
822,325 
5.058,2112 
722,151 
4,313,093 
1,879,8.81 

8,788,819 

133.551 
1.181,927 
1,573,592 
7,129,3111 

217,371'. 

272,355 
1,820,9118 
7,102,205 
1,010,1011 
7,5 IS, I -I'. 
1,0,115 

171.70,9 
■ 
5,119,081 
1,778,888 
8,308,1117 
4,204,140 

836,374 
1,840,503 



Midland. $ liichid." 



February i i, 



Till k\li.\\ \Y TIM] S. 






THE 



BIRMINGHAM 

RAILWAY CARRIAGE AND WAGON CO., LTD. 



Railway Carriages, 
Tramcars & Wagons 
of every description 
for Hire and Sale by 
immediate or Defer- 
red Payments, Iron- 
work, Wheels and 
Axles . 



WORKS 



SMETHWICK, 
BIRMINGHAM. 



MANUFACTURERS OF 



Wagons for Hire, cap- 
able of carrying Six, 
Eight, and Ten Tons, 
part of which are con* 
structed specially for 
Shipping purposes. 
Wagons in Working 
Order maintained by 
Contract .... 



OAK & STEEL UNDERFRAME WAGONS, 
HYDRAULIC PRESSED BOSS, 
AND OTHER WHEELS AND AXLES. 

Grand Prix, Buenos Ayres Exhibition, 1910. 

Sole manufacturers of Dean and Churchward's patent " Eitherside" Brake, and Marillier's patent "Instanter" Coupling. 



THE SHREWSBURY & GHALLINER TYRE CO., 



MANCHESTER AND LONDON. 



LTD. 



SOLID TYRES for iMotor 'Buses, Tower Wagons, Lurries, eind 

every description of vehicle. 
Challiner's Patent Giant and World Tyres are used by all the large Railways. 
Wrought Steel Girder Type Wheels 
MANCHESTER: 
Reg. Office: KAY ST., ARDWICK GREEN, MANCHESTER. 
Pneumatic Dept.: 12 & 14, ARDWICK GREEN, MANCHESTER. 



LONDON : 

PAGE ST., WESTMINSTER, S.W. 
VALMAR RD., CAMBERWELL, S.E. 



DENNY, MOTT& DICKSOf 

LTD. 

IMPORTERS OF AND DEALERS IN ALL KINDS OF 

TIMBER FOR ROLLING STOCK, 



Telegraphic Address : 

" DENNY. LONDON." 



SHIPBUILDING, ETC. 



Telephone Nos. 
4495 & 1214 Avon 



LONDON -14, Fenchurch Street, and East Wood Wharf, West India Dock. 



LIVERPOOL 
170. Regent Road. 



GL \Sl.O\Y; 

87. Union Stre 



NEWCAS1 I 1 
Bank Chamber 



CARDIFF; 
Steam Saw Mills 






THE RAILWAY TIMES. 



RUGBY, 

LEICESTER, 

NOTTINGHAM, 

SHEFFIELD, 

YORK, 




[February ii, ign. 



LONDON (MARYLEBONE) 



LEEDS, 

HUDDERSFIELD, 

HALIFAX, 

BRADFORD, 

MANCHESTER.&c 



Cross Country Expresses are a distinct 
feature of the G.C. Seruice. 

NEWCASTLE, SUNDERLAND. DURHAM, 
YORK. MANCHESTER, BRADFORD. HUDDERSFIELD. 

ROTHERHAM, and SHEFFIELD. 

are Provided with Through Luncheon Car Trains via 

NOTTINGHAM, LEICESTER, and BANBURY 

id from 

Oxford, Southampton, Bournemouth, and the South 

Western Line, also to and from Gloucester, Cheltenham, 

Newport, Cardiff, Barry, and South Wales. 

Bath and Bristol (with direct connections for the 

West of England! 

are reached bv Through Breakfast and Luncheon Car 

Trains 
LEEDS, WAKEFIELD, HALIFAX, HUDDERSFIELD, 

SHEFFIELD, NOT! INGH \M. and LEICESTER. 
Via MARYLEBONE is LONDON'S POPULAR 
ROUTE for STRATFORD -on-AVON. 



THE CONTINENT is reached by Express Boat 
[rain-; to GRIMSBY, and regular sailings to 
HAMBURG, ROTTERDAM, and ANTWERP. 



For particulars of Train Nrrvin-. s,,r, . Travelling facilities and other informa- 

' j.p.v ,,:., i., I, i., ilC I Stan i' _\<j. n , , |,,;n ,\. I'm. 

send a postcard to Publicity Dent., 216, Maryl, bone Road, London, N.W. 

SAM FAY, General Manager 



A Convincing Reason 

why the typewriter purchaser should select the 



£6 



REMINGTON" 



has always been furnished by the unique Remington 
i and reliability. 
Eighteen additional reasons are furnished by 
the eighteen original improvements found in the 
latest Remington Models (Nos. 10 and 11.) 
Let us send you descriptive booklet. 

REMINGTON TYPEWRITER COMPANY, 

100, Cracechurch Street, LONDON, E.C. 

Telephone Ho. Avenue 6665 (4 lines). 



R. M. S. P. 



lie Royal Mail Steam Packet Co 
(Royal Charier dated 1839.) 



SOUTHAMPTON to ARGENTINA and BRAZIL, 

Via Spain & Portugal. 

West Indies, Central America and New York. 

From London to 

Morocco, Canary Islands & Madeira. 

West Indies, 

Special Yachting Cruises, 




— frfAKt^s or 



Galvanized Signal Pulleys. & 

nTfllfoSiii CAST &MAUEABLE iROtf. 



February i i, [91 [.] 



THE RUI.W \Y II M I S. 



COMPANY NOTICES. 

Furness Railway Company. 

\'< ITU l [a hereby given thai the 
LI 

1 

1 
noon. 

AND NOT* 

compliance with t Uamcnt, .1 

■ 
Oompanj n 

\ Ji'li daj ol 

afternoon, or so soon thi 

■ 

■; Tin- follow* 

inff Bill now • namely - 

v Bill • cl the time for t< 

Tho Transfer Book-* of the Company will i«- closed 
from tha mit to the 24th febnmry, 1911, both day.* 
inrlu-ivo. 

Bv oi 
DEVONSHIRE, 

S 
Gen< : ness, 

1911. 



East Indian Railway. 

'IMI E E ist [ndmn R way < mpany is 

-I pr« i 



of: — 






■ 

for Denhan 

* 
I 

I 

■ I ■ 

i 
any Tender. 

i 
which cannot under any ell 
By ord 



Nicholas Line. London, E.C., 
I braary, 1911. 



131 



Great Northern Railway Company 
(Ireland). 

r 1 1 1 1 1 1 > prepared to ] ecen e 

■ 
1 

■ 

■ . 

1911. 



Midland Railway Company. 

NOTICE is hereby given that, pursuant 
to the Standing Order 
or Extraordinary ' ■ 

of the Midland It 

of the said Company at Derby, on Tho. 

I • moon, for the 
following- Bill now being 1 prom 

Midland Railway — " A Bill to 
powers upon the Midland Railway Company for 

the Construction of W01 
thy Midland :. 
Committ 

ER3 

1 
H. 1TLSTON HODGSOJ^ 

■ 
ALEXIS I 

Derby, January .31st, 1911. 



Great Western Railway. 

rTIHE l ►irectora of tliis < ' imp my ai a 
I 

1 

A. Ami 

D Mahog my, V 

■ 

■ 
marked out 

ft 

■ 











] 


. 1911. 


W. 





TENDERS INVITED. 



The Great Indian Peninsula Railway 
Company. 

Till- 1 



Auckland 



Harbour Board. 
Zealand. 



New 






Ti:\ DERS are in\ 

each Contract (which will 
» bona fido Tender) from 
the Board. 

W. 

I 



7, 1911. 

1911. 



POSITION VACANT. 

Indian Public Works Department. 

T1HE Secrel n y of State foi India in 

attained tin 

. 
in;.', or I 

I 

1st M iy. 1911. 
It. KITi 

India Offl 



The English Association of the American 
Bond and Shareholders, Limited. 

avoided bv - 

< < 

American and Canadian t. | in owners' 

domiciled abroad under! 

Alfred W. Sm 

Thorn 
Rt. Hon. 1 

M \- I 

ASSI6TV 



THE METROPOLITAN AMALGAMATED 



RAILWAY CARRIAGE AND WAGON COMPANY, Ltd., 

INCORPORATING 

Patent Shaft and Axletree Co., Ltd., Docker Bros., Ltd., and 
the Willingsworth Iron Co., Ltd. 

IRON AND STEEL UNDERFRAMES, WHEELS. AXLES, 

AND EVERY DESCRIPTION OF ROLLING STOCK, 

PRESSED STEEL BOGIE TRUCKS, The "Brunswick" Weldless Disc WheeL 

BRIDGEWORK AND ROOFS, DOCKERS' SUPERIOR VARNISHES, PAINTS, 

and FINE COLOURS, for all Climates. 

Dockers' "Hermator" Paints tor Structural and all classes of Engineering Work. 



Registered Offices: SALTLEY. BIRMINGHAM. 
Telegrams : "METRO." BIRMINGHAM. 



London Offices: 36, VICTORIA STREET. WESTMINSTER. S.W. 
"RAILCAR." LONDON. "SHAFT." WEDNESBUBY. 



J3- 



THE RAILWAY TIMES. 



[February ii, 191 1. 



The Subscription List will close on or before Wednesday, the 15th February, 1911. 

THE KANSAS CITY SOUTHERN RAILWAY COMPANY 

(Incorporated under the Laws of the State of Missouri, U.S.A.) 

OFFER AT 101 PER CENT. OF 

$5,000,000 REFUNDING AND IMPROVEMENT MORTGAGE 
FIVE PER CENT. GOLD BONDS, 

Due 1st April, 1950. 



B I.-. t.i". 11. 1 ■ ned form part oi 

an authc ' 1 

■■ ifiecl in the Deed, the 
which are tin construction or acqu branch lines, 
tunnels and bridges, tin reduct f oracles, thi pur- 
chase 1 if rolling stork a ml nt In 1 equipment, anil tin- im . I I n, ,.,,,, ,i 

of additional real Estate and Terminals. 

The !'.'■ 1 :h.'' 

(cxrrpt siMii.noy Arkansas ami Western Railroad Five pei ,, ,,t i; 

Iti'l' *(, I 'in. .1 In Hi, (',.ln|,allV. .-Ill,), at 

onlj to the existiiis; .S30.ooo.oOU First Mortgage Three per cent. B Is. 

The Bonds are repayable at par I accrued interest on 1st Ipril, 1950, but 

11"' C Pllliy resiTVrs til it, ill tllC rfght tO Lalnlll til. wl 1 1 1 If 1 ,11 1 talalilrj |,,i„. 

(but not a part) at 105 per cent, and acorned interest, on am interest date 
on giving ' notice. 



■ ii 

' ay as to | ipa] 

option. 

Principal and Interest w 
and 1st July, at the Offli 

ml future I \, 
the United States at the 
can lodg-e 



i ■ halt'-vn, 

imi. i'in-1 Co'mpi 



"' ' Co., I 15, l.i adenhall Street, E.C. 
Trustees for the Bondholders: — 
THE NEW YORK TRUST COMPANY. 



' ' HEODEE USD en oi Bonds for sale at 

I, nil. at the Ex. In. I,-. ... .-I s. ; ,, .,.,,. i . , M 

E209 :■ lOd pi ■ -I 000 B I. I. . 



• in 
| 70 



per Bond of $1,000 on Application. 
Allotment. 

23rd M: 1911 

20th April, 1911. 



1 III 




In 


l.ial 


VI -i 


.lal 


Mm 


nita. tuiv- 


Mi 


.'II' in'..', 



I ,-t tin. ii, 
ollows: — 

121,483 tons 
1,204 691 . 

49,776 

676,255 

I6S 

299 179 



3,620,047 tons 



a- ,,: tins traffic originated on the 
a,', and "i'l> 33 17 pi i ei at n > received from connecting lines. 



1 '" -'"-- "', , ipts .,i the Compam for the 1 
follows — 


,-t ten iiiijni'ial 


'ears .vim as 


1 $4,753,066.43 1906 

1902 .. .. $5,450,870.64 7 

1903 .. .. $6,010,458.67 1908 
ll»4 .. .. $6,450,319.69 1909 
l'"ii $6,627 753 1910 . 


--in i- 

$8,358,860 OS 
$9 162,478.35 




The net receipts for the twelve months ended 


31st December, 


$3,015,336.31 
$1,400,000.00 


The stun required for interesi on all outstanding 

to 


Bonds amounted 








$1,615,336.31 


The sum required for interest on the presi i 


amounts to only 





mts of the Con ti nam ial 



nidinsr .30th Jn 



The foregoim.- information 1ms been taken from a letter, dated 31st Jan 
nil, a, M,, , i : , ii i Ladenburg, Thalmann and Co., bj Mr. L. F. 1 
Chairman oi tin Board oi I tors of the Company. 



Hortg Deed ad oi the aboi ■ m 

nia\ be inspected ... the offi, - of Messrs, 

ustin Friars, E.C. during the usual office hours on 



lit ed letter frO] U 

Slaughter and May, 18, 

ay day while the' Lists 



ent. pi 



U hi re the am I 

..ii in,!- tl,o amount i' . n.. nt, [1 .,,, allotment i - 

ed without deduction Failure to |>a> am Uistal 
i ii ,i,i,- mil inn, i,t nil previous payi i liable to forfeiture. 

t at, the rate oi 5 per cent pel annum i , 

tin n in |,. ctivi ■• 'In' l-t .lull in \t, I S,ai|, Cat 

,' tin In (1, pal al,l, ,,,i I -i .tni I'M I ,,1 

I In S, rip, when liilh | I vi 

ti.,' Definit , I: Ill I ' .In", 191 



being off 



lilt:, 



il-h 



'M IV 'lull. 

, ." i; ,,,!, \, „ : 

'.,.., I . 

I , . ■ 1'HEItN lt.ULW.Vi COMPANY ov ml operit, - 

al I - i. 'in tin'.' Ki.nsa- mil , Missouri! 

.. n, I afford. • 

- ',1, a " Hi, i i,,n|. ,.,, owns import nit I', 

: ' , , 

„■ i 



i I 



I In t |1 n 

1m I 1 

'I, ,, i ,,, 

ll 1,1 till' IK, 
,.,.(],„ ,,, 



Santa 
| 

n 'i.i Ci 



,1, .ml, what - 

" 01) i,il" l~ Tin- Torn I h , 

"I l" "I itii with deep v. 



,ini Forms of An' 1 .in Messrs 

-. .,, < ' i ■ 11',. I., mi ii l,:i 11 Stivt, B.C., and from Messrs 
Co . J. Fin, I, I I C 



THIS FORM MAY BE USED. Allotmant 

APPLICATION FORM. No 

THE KANSAS CI 1 Y SOUTHERN R ILWAY COMPANY. 

,,i pi a ,n lOl per CENT of 

$5,000,000 REFU\DlNG AND IMPROVEMENT MORTGAGE 

FIVE PER CENT. GOLD BONDS. 

Due1=t April, 1950. 

ition: oi Sl.000- 









ol the Refi 



w 



S,".", 



i > pet r. I of $1,000- 

unt you may allot to — and 
I Prospecl 



PI l A I 

W IT] v . / . .' ' ■ ■ ■ 



(Add v. 



Dure 1911 

BEARED 
,\ b.S MlNS'l R \NK LIMITED. 



A Journal of Finance, Construction, and Operation. 



XCIX. 



SATURDAY, I l.l'.kl \I<Y n, 1911. 



No. '-. 



PRINCIPAL CONrE.NT^. 



\ v. ]--. 












B 

Dublin 

w:>v of Iii'] 
Metropolitan It 

Sortli 1. 









Southern and Wi 
orthcrn (Ireland) 



THE RAILWAY TIMES. 

Established In 1837. 

PUBLISHED EVERY SATURDAY 
Annual Subscription ipost free). 25 shillings. 

NOT! 

All communications for the following issue should be received not 
later than 6 p.m. on I- l 

New advertisements or changes in copy for the inside pages must be 
received not later than f> p.m on Friday, Advertisements for the 
cover must be received by noon on Thursday 

Advertisements of which proof is desired should reach us by the 
second post on Wednesday, 

Monev Orders. Cheques, etc., should be drawn in favour of 
THE RAILWAY TIMES, and should be crossed " National Bank " 



Telegraphic Address : '• Altlmetry, London." Tek phone No. : 2048 Cierrard. 
iithi'. s: 12 Norfolk Street, Iondon WO 



Founc<cd 1871. 



OCEAN 



Jl cedent attfr ('guarantee g = 
s = = Corporation, ;£tmiteo. 



£2,000,000 
£8,750,000 



Assets exceed 
Claims paid over 



Accident Insurance of all hinds. 
Fire. Burglary. Fidelity Guarantees. 



Tramway Insurance. 



Licence. 



Insurance and Inspection of Bailers. Lifts, 
Cranes. Engines. Electrical Plant. &c. 

1bc\tf OfftCC r~M00RGATE STREET, LONDON. 

LULL. 



NORTH WESTERN AND CREAT WESTERN DIVIDENDS. 

The ty dividends for the ha 

ended Dei en 

Greal W tern and London and North 
Western dividend Both 
satisfactory 

pondii mpany is paying 

7.I pei 
7 pei cent, per annum, and in additioi 

1 I'D ward by al- 
exin di tribution lor the six months i 
and as the dividi id for 
to an 1 

inary share- 
holdei oi thi Greal VV< tern Company for the last five 
yeai - edno more than 5 J 5I pi 

5! per cent., which is being paid : I he yield <>n 

the Great Wi tern < (rdinary stock at th< 
127 cum dividend in mind the 

advantages which are ii] 

w nil the South Western - that 

ih. dividend and, of course, the return upon 
market ce 1 I he stock, will to I 

desirable to beai in mind thai to some extent this company 
suffered during the second half oi 1910 by reason of the 
South Wales labour disturbai 1 1 distribution at the 

rate ol y\ per cent, for the last half-year is the highesl rate 
paid by the Great Western Company since [891. The London 
and North Western dividend is .11 the rate ol 7fper cent. 
pei .minmi against 7 pei ei annum. The balance 

ixd is maintained at about £118,000 Tl e sum 
[to resei \ e, however, is raised fn >i 
£100,000, showing that in the past halt yi mpany 

has earned 1 per cent, per annum inure upon its Ordinary 
stock than it did a year ago. The dividend for thi 
will 1" to 6f per c< 

cent. i"i the yeai [909. ["he \ ield ■ 1 
Western 1 Irdinarj stot k at the present time 1- 4 J per rent., 
and the urrent half- 

it- returns continue to be highly satis- 
ry, and it 1- evident thai the .eh cruing 

from the workinj which this company has with 

the Lancashire and Yorksl i ipanies 

ndon Company 
1 in tin Ninth Western that it> results may be 
■ nientlv coupled with that ol the larger company. 
I mx months the distributioi mdon 

Ordinary is raised from 4 per cent, to 5 pei cent., making 
linst 4 pei 1 
In tin- 1 

the net profits. The > 
ilway for thi 
show an \m rease in tl 
spite "i tli 
only 1 

pi incipally under tin 

dividend of 5 pei 

reserve fund, thi ■ itional 



154 



THE RAILWAY TIMES. 



[February ii, 191 i 



trried forward. This result 1- highly creditable to all 
1 1 rned, and as the holders oi ,1 large amount oi North 
London Ordinary stock oi course the North Western will 
benefit from the recovery in North London profits. 

THE OSBORNE JUDGMENT. 

\ ereal deal has yet to be heard about the famous 
judgment ot the House of Lords in the cast- of Osborne v. 
the Am ilgamated Society oi Railway Servants, about the 
effects oi that judgment, and about securing to trade 
unions liberty to do a numbei oi things whii h they have 
been in the habit oi doing. The immediate effed o1 the 
1 w.i- to prohibit trade unions from making com- 
pulsory levies on their members for the purpose oi paying 
1 tries to the Parliamentary representatives oi the unions. 
Opinion differs as to how much further the principle laid 
down by the Law Lords will go, and the questions involved 
are legal "ties which will have to be settled. The trade 
unions maintain that unless the judgment is reversed they 
will be prevented from doing a 1 nun her oi things to w Inch 
few people have any objection. Hence, they maintain 
that the passing of an Act providing for the payment from 
public funds oi all members "I Parliament will not be 
enough to meei the difficulty. Last year Mr. Asquith 
promised that the Government would bring in .1 Bill to 
give the unions all reasonable freedom, but it was apparent 
that lie did not support any idea oi reversing the Osborne 
judgment so as to allow the unions to make compulsory 
levies for payment of their Labour representatives or for 
carrying on political propaganda. So far as the Prime 
Minister indicated the scope oi the proposed Bill, it seemed 
fair and reasonable, and probably it will be introduced 
during the present Session. The Labour members, how- 
ire not disposed, until at least thej see the Bill, to 
trust the Government implicitly. On the very first day 
nt the debate on the Address last Monday Mr. Ramsaj 
Mai donald, member fur Leicester, and the newly-appointed 
chairman oi the Labour Party, made a speech in the 
House "| Commons in which he maintained that the 
consideration "I the judgment 1- .1 question winch will not 
brook delav. V instances oi the field over which he 
contends the judgment ranges he gave threi cases. First, 
it will he impossible for the trade unions to vote monej 

tn send some "I their must pi ising members to the 

democratic college established at Oxford. Second, at the 
last general election over forty candidates received finances 
from trade unions contrary to the judgment. Third, a 
lew days ago there was ., Laboui conference oi |.6o del. 
gates at Leicester, practicalh even one oi whom was 
there contrary to tin- decision nt the House oi Lords. 
Presumably 'his lasl plea is .in the ground that the . ■, 
pei 1 ■ •>! the delegates were paid by the unions. For the 
moment these thine- are going mi, but the Labour con- 
tention is that they will be stopped as soon as any member 
..I a in in .ii brings an objection in the Law ( ..nit- Probably 
lew people will object to trade unions continuing the first 
and the third oi tin- three courses mentioned, but a good 
ni.iiiv people, including a minority (| t trade unionists, will 
object to election expenses being paid out "I compulsory 
levii Ii 1- always "pen to the unions to raise funds it 

1 in by voluntary subscriptions for such a purpose, 
and one of the things which the Government Bill is expected 
I., ii. 1 is tn prevent any trade nun mist from be me penalised 
foi refusing to subscribe. Mi. Macdonald and his sup- 
are insistent that the Government should produce 
then Bill immediately and have it sent to a < ommittee, 
where the Labour member, will do their best to altei it to 
Miit tin 11 liking. It is to be hoped that the Government 
will take up a tn 111 attitude nn the subject, and refuse to 
allow tiie reimposition "I a Hi.e ■ , on members oi trade 

unions wl bjecl to be subject to levies foi the propaga 

1 1. .n . >i pi 1I1 1 H 1 1 opinions to which they are opposed. The 



problem will not be an easy one because though there 
may be no difficulty in preventing overt acts by unions 
against minorities of their members who object to sub- 
scribe for certain political objects, there are such things 
as indirect pressure and the possibility even of a kind of 
boycotting must not be left out oi account. The supple- 
mentary litigation now proceeding in the Osborne case 
indii ite- considerable possibilities. In any event, the 
main principle of the judgment as to levies for payment oi 
members of Parliament should be upheld. 

THE NORTH EASTERN STRIKE. 

I he lasl abortive strike did cot cause as much in- 
convenience to the public and loss tn the railways ami 
traders as the men concerned in it would have liked. It 
is, however, a sign ot the unruly spirit that actuates the 
noisy leaders oi these movements. The men follow these 
wind-bags because the} will rot take the trouble to think 
what the consequence oi such ill-regulated actum may be. 
A moment's reflection, il they -topped to give it, would 
-how them that as Inn- as these actions occur from time 
to time, no business ot any kind can possibly be carried 
on with any security and regularity- ami it is only by 
security and regularity that railways cm lie made to fulfil 
the purpose for which vast sums have been expended on 
them. Do the men realise to what this disregard of 
ordinary obligations between man and man must lead? 
Cannot they see that this blind rushing down the steep 
path of utter irresponsibility will end in abysmal 
disaster to themselves most certainly, and to those de- 
pendent on them ? They talk airily of a general strike — 
is it conceivable that this will be tolerated, after all that 
ha-, been attempted in the way of conciliation boards and 
arbitration? Soulier than this shall come to pas- a 
general lock-out of Union men is bound to take place — 
lor of what earthly rise can L'nioiis be to anyone whatever 
if there be no discipline amongst their members? Is it 
their intention to wreck their Unions in a general debacle — 
in what? Without level-headed leaders to guide them 
they will become a chaotic mass oi workers at the mercy 
ol crack-brained revolutionists on one hand and . . 1 
tyrannical masters on the other. 1- this the state ..1 
affairs at which they are aiming ? It would really appear 
a -, 1 1 tun many members of Unions are beginning to suspe( t 
that these officials are in the pay of those " bloated 
capitalists," the thousands ot -mall shareholders in railway 
companies whose very bread ami butter in the majority of 
instance-, depends upon the faithful discharge of their 
duties by railway employees of all grades to whom they 
give constant employment. It was the proud boast of 
Britishers at one tune that, not onlj were they expected 
tu do their duty to their country, but that they per- 
formed their duty with might and main to the very end. 
The new cry seems to be that England expects every man 
to shirk his duty whenever anyone suggests that that 
dutv is irksome or m any wa\ disagreeable. Should this 
be the ea-e even in a slight degree, it would be a sad and 
latal sign ot race degeneracy. It is fondly to be hoped 
that it is only a sign of "summer madness." 

relephoning from Railwa) Trains. The Stratford-on-Avon and 
Midland I unction Railwa\ Compam are about to put to 
thorough test an apparatus called the " railophone," designed 
l.\ Mr. II. V. Kramer, ol the Wilton-Kramei Electric Tool and 
Hoist Co., [Birmingham. Ii is claimed thai bj this arrange- 
ment telephoning can be carried on from a train, whether in 
motion 01 standing still. A telephone instrument in the railway 

... is , 1 ■. ted with . oils ol wire alia, lied to the outside 

,,l the vehicle. A wire laid underground parallel with the rails 
1 . .urn. iied with telephone instruments in the railwaj stations 
.a,, I signal boxi - I he llu< tuating currents produced b\ speak- 
| n <! into the telephone in the train by induction cans,- similar 
currents in tin underground wire, and opei iti tin various 
telephone receivers In the stations and signal boxes. 



Febri/aky i i, IQII.1 



Till R \II.W W TIMI S. 



i V 



MONEY AND ST3CK 
MARKETS. 



Sei 
Consols : — Wednesday, M 



Continuation 

I eb. 21 Mii.. s I 

•General 2-' General 

Mines Mar. - Mines Mi 

General G neral 9 

Mini - -i Mines 

:.il i era! 

I ■ usual comparison <>i the present position ol tin- 
Bank of England, the Money Market, the Foreign 

I with the posil >n last Thursday and at the 

corresponding pi is given below. 



j Mai i ■ 



- 1 













At Present 


Week. 




in and Bullion 












£27.21 


7.055 


Proportion of Reserve 










: cent. 


51 J per cent. 


S I J pi ! 


Notes in Circulation 




/27,7oi.o30 








4 per cent. 


3 percent. 


Open Market Discount 




3J per cent. 


1 cent. 


Bankers' Clearing House 




j 5.000 


/241. 473,000 


Silver bars, pei 
















French 3 per cent, (ace.) 


9 6Jf. 


96if. 


98f. 


Paris Cheque e\ 


25f. 29c. 


25f. 30c. 


251. iSc. 


New York 00 days ditto 




S4-831 




Rio de Janeiro exchange 








Valparaiso 90-day exch'e 


ioid. 






Calcutta transfers .... 


is. 1 


IS. 1 


1 •■ ; 


Hong Kong transfers . . 


9 ■'•■A- 


• ,',-,d. 


day. 


Shanghai transfers .... 


2s. 4jd. 


2s. 4jd. 






er cent 


1909. 1 3 per cc 


nt. Feb. 10. run 


Bask K> 


.. Apr. 14 


1909- 4 .. . 


Mar. 17. 1910. 


6 per cent.. Jan. 2, 1908. 5 


Oct. 7. 


1909. 3t ., 


June 1, 1910 


4 .. .. Jan. 16, 


.. .. Oct. 14. 


1909. 3 ., 


June 


5 .. .. Jan. 23. 190S. 5 


Oct. 21. 


1909. 4 .. , 


Sep! 


3i .. „ Mar. 5. 1908. 44 


Dec. 9 


1909- 5 .. . 


Oct. 


5 .. „ Mar. 19. 1908. 4 


:: :: ft A 


1910. 4) 


N'o\ 


2k n <• May 


1910- ' 1 





The Bank return shows £733.000 don balam e 

from abroad, and that this was supplemented by a small 
sum of £139,000, senl m from the country, while the note 
circulation was reduced by £403,000. Thus the Ri 

higher to the amount" ol £1,275,000, bringing n to 
,1.000. nr about a million ami a half above the level 
which obtained at the corresponding date of lasl 
The day before the return was published, sanguine views 

;a!lv on the Stuck Exchangi 
tin- Bank Rate would come down. This opinion wa 
upon the strength oi the foreign exi hanges and the proved 
abilitv of the Bank now to retain the gold coming in from 

rhe position oi the Hank, mea 
either bj the amount of the Reserve oi by the ratio oi 
this tn it- liabiliti tronger, but when 

the Treasui y was being depleted owing to the Finance 
eing held in suspense, it 1- this year comparatively 
plethoric on account of the increased taxation imposed. 
Trade also is very much more active, as the statistics 
month abundantly testify, and unli 

is accumulated during the next few months, while the 
Hank i- best able to command the market . we are likely 
to have inconveniently high rate- in the autumn, when 
crops have to be paid for. In these circumstances the 
directors have thoughl it expedienl to maintain the Bank 
Tate at 1 1 Jthough discount been 

allowed to fall much belov i< ["hi three months' bill is 
now : iugh an 

effort was made to raise discounts whi 
the il ■ vas known, it was 

not long persisted in, and nothing cum- ol it. 

In all the turmoil of facts and figures by which st 
of market conditions are b ctor which is now 



i.iinh into view irit ol 

confidi 

hat has taken plai e dui 
which 111 it- turn has been much stimulated by tie 

m\ estmenl pital, whii h h.c ■ st 

conspicuous feature 01 a -till 

longer period. \ thus 

i- well founded, and it 1- now being supplemented by 
quiescent political conditions on the Continent and also 
■ unacknowledged feeling that our own Govern- 

nt with tie 
ments in this din esent. The remarkable 

rise m the debent ularly 

those situated in London, is founded on the beliei that the 
taxatii "ii this im 

lightet 

1 111 di> idend annou dinary 

oi the 1 1 mm te< n mo t impoi t 1 lish railway 
mies show that the rate foi [910 1- 1 
above that oi 1909, taking the who! 
This rise would signify little to tie 

not thought tn be a lasting im] 
I the ordinary stocks generally must mean that the 
market regards the improvi n ' nded 

upon, and does not [1 
whittled away in emu. II kind- under pn 

-mular mi i far the 

tendeni \ to spei ulati has not been very apparent, and it 
i- seldom that so much confidence and so little -\ 
tion have been coincident. It 1- probable the results oi 
iti ment in rubber -hares at the 
till evii isi Meanwhile 

thi present conditions seem health} and likely to remain 

omi ' 

rhe changes during the week havi erally 

ot very striking. North Easterns d& 
Saturday b I he strike embarked u] ■ 

Hull, but more than recovered on Monday, when the 
strike was abandoned. Midland D r< 

that day, but other movements in Hume rails though 
favourable, were not important V 1 nd Canadian 

rails were higher, Mexican- and Cuban railways were lower. 
The next day some profil realisation took j lace, 1 1 
irregulai movements in must markets, but on V 
the carrj over being 1 nged with dividend an- 

nouncements nt , ; ami I a per cent, more by the London 
and North Western and Great Western respectively 
occurred all down the list. A further improvement in 
Eected the follow ing day, almost the 
only exi 1 ing found in the V 1 arket. 

Frid paj daj the Housi w I over 

the account, but, on the wholi 
ably tu holders in most departments of the market 
dividends announced early in the day by the Grand Trunk 
which included '. 

1 with enthusiasm. Most people had pn 
themselves to go without anythingon thi d were 

II 
decisions ol this company in 1 

I 
the sti and the third pn 

553 to 56J. Howi 

the close, in spite ol tl 

1 the week'- trafl 
rket had allowed 
An ad\ 
■ .ne railways- n 
1 

home rails the improvement v N'orth 

1 I 
ml Midland deferred : 
amid very promi 



1 3 6 



THE RAILWAY TIMES. 



[February ii, 191 i. 



The principal movements on the week are as follow :- 

Name of Stock. Rise. Fall. Name of Stock. Rise. Fall. 

British Funds. Chicago Gt. Western — . . — 

Consols, 2 '. per cent. 1 .. — Chicago Mil. & S. Paul — xd 2}. 

Do. (an it. h . . — Denver & Rio Grande ij .. ■ — 

British Rat Do. Preferred .... 1! .. — ■ 

Barry Deferred .... — xd 1 Erie Common 3 .. — 

Caledonian — .. — Do. 1st Preference i\ .. — 

Do. Pref. Con. Old. J .. • — • Do. 2nd Preterencc 2 k .. — 

Do. Def. Con. Ord. | . . — Illinois Central .... | . . — 

Central London .... 1 xd — Louisville & Nashville 2J .. — 

Do. Deferred .... — xd — Missouri Kans.&Texas i| . . ■ — 

City and S. London ■ — xd 1 New York Central . . ' . . — 

Furness ■ — .. — N.Y., Ont. & Western '. . . — 

Great Central Pref. ; . . — Norfolk & Western . . — . . — 

Great Eastern — . . ■ — Do. Preferred .... — . . — 

Gt.Nthn.Prtrf.Con.Ord. — .. — Pennsylvania — xd 1 

Do. Def. Con. Ord. -i .. — Reading Common .. if .. — 

Great Western .... — . . — ■ Southern Pacific Com. — ■ . . , ; 

Hull and Barnsley — xd 1} Southern Common .. \ . . — ■ 

Lancashire& Yorkshire — xd ' Do. Preferred ■ — ■ .. — ■ 

London Br. & S. Coast — xd 2 " Union Pacific 1] .. — ■ 

Do. Deferred .... — xd 2A Do. Preferred .... — .. — 

London Chat. & Dover I . . — Wabash 1 . . — 

London & N. Western ij .. — Do. Preferred .... 1 .. — 

London & S. Western — . . — 

Do. Def. Con. Ord. J .. — U.S. Steel Corp. Com. 1 J .. — 

London, Tilbury, &c. 4 xd — Do. 7 p.c. Cum. Pref. — xd 1 

Metropolitan — .. ] Foreign Railways. 

Metropolitan District — . . 1 ; Antofagasta Def. Ord. — . . — 

Midland Def. Ord. . . 3 . . — Argentine Gt. Western — . . • — ■ 

North British Pref. Ord. — .. — BuenosAyres & Pacific 1.. — 

Do. Def. Ord i! . . — BuenosAyres Gt.Sthrn.i h~ . . — 

North Eastern Cons. 2$ . . ■ — Buenos Ay resWestcrn — .. — ■ 

North Staffordshire — . . — Central Argentine . . — . . — 

South Eastern .... — xd 2 Do. Deferred .... — . . — 

Do. Deferred .... — xd k Cent.Uruguay of Mont. 2 .. — - 

Taff Vale — xd ij Cordoba&Ros. istPref . 1 . . — 

Colonial Railways. Cordoba Cent. 1st Pre!. — .. — 

Canadian Pacific .. 2 A .. — Costa Rica — .. — 

GrandTrunk of Canada j .. — Cuban Central .... — .. — ■ 

Do. 4 p.c. Guaranteed — . . — Leopoldina — . . — 

Do. 1 st Preference 1 . . ■ — Mexican Southern .. — xd 2 

Do. 2nd Preference 1 . . — Mexican Ordinarv . . J- . . - — 

Do. rd Preference \ . . — Do. 1st Pref., 8 p.c. — . . — 

American Railways. Do. 2nd Pret., 6 p.c. ■ — .. — 

Atchison Common .. 1 .. — Nitrate Ordinary.... \ .. — ■ 

Baltimore and Ohio. . — ■ .. — Do. Deferred .... ■ — .. — 

Chesapeake and < >lno 1 , .. — ■ Ottoman(Smyrna to Aidin — .. — ■ 

THE GRAND TRUNK RAILWAY DIVIDEND. 

The dividend annnouncement ol the Grand Trunk Railway 
1 \ h as issued 5 esterday. Subjei 1 to audil . the 

unts (or the half-year to December 31, [910, show the 

following results 

1910. num. 

Gross rei eipts . . . . . . 1 5,699,900 . . 1 [,6 ;2,goi 

Working expenses .. .. 2,790,700 .. 2,753,100 

S"i ' 1 1 ' • ipts . . . . . . £909,200 . . t'879, Soo 

Ii from rentals, ou1 side opera- 

1 ions, and 1 ar mileage 1m1.uh es 19,1 

rotal net revenue .. .. .. £947,600 .. £919,700 

'■.■I revenue 1 hai gi - foi 1 he half- 
credits . . . . 525,400 . . 51 ' 1,91 n 1 

I lal . . . . . . . . ^'422,200 . . ('415,800 

lX-du< 1. I .111. id. 1 Ml. ml,, 
.1,1m 1,11, v for the h.ill- 

V, ,,1 [O [00 

Detroit 1 ,.,,,. Hav, n 
and Mil.-.. ,,il.,, surplus 





Surplus , ; s, ,,,„„, . . 1 ( io, 5 oo 

This sin], in, .,1 , |S Idi ,1 to the I,.,! ini e ol [2,500 

'"'"i [nne make ;,i total aim mnl ol ■ ;g8 100 a\ tilable 

foi tlividend, which will ad 11 1 the payment ol the dividend 

foi tin hali \ 1 mi on tin fom pel cent, guaranteed stoi k, and 
ntl si , ond prcfercn, e stoi ks, and .1 dividend oi .'. of 1 
per 1 , hi for the year ,,11 the third preferem e sto, k, lea' 
ol aboul £9,000 to be i arrii d forward. 

I i ml ol the < .1 1 l'i [mk Western 1 lompany for 

the half-year, including the ImI. broughl forward, show 

plus of [1,-00, \\ In, h .inn.iini 1 , .11 1 ied 1, ,1 ward to 1 he 
in 1,111 hall \ 'mi . 



Weekly Traffic Summary. 

The traffic receipts for the week ended February 5, as 
officially published by the fifty-two principal railways oi 
the I nited Kingdom, amounted to £2,014,871, which was 
earned on 21,543 miles, being at the rate ol /.<i ; ros. 6d. 
per mile of line open. For the corresponding week of 1910, 
the receipts of the same lines amounted to £1,913,485 
with 21,464 miles open, or £89 2s. nd. per mile. There 
was thus an increase of £101,386 in the receipts, an increase 
"I 79 in the mileage, and an increase oi £4 7s. 71I. in the 
receipts per mile. Thirty-six of the returns distinguish 

between the receipts from passengei and g Is traffic 

and these show an increase oi £22,704 (or 19s. yd. per 
mile) 111 the passenger receipts, and an increase of £77,373 

(01 1 ; ids. 5.1. per mile) in the receipts from g Is traffic. 

The aggregate increase of the thirty-six railways for five 
weeks in the passenger receipts has been £117,706, while 
the aggregate increase in the goods traffic was £270,317. 
The aggregate receipts of the fifty-two railways for five 
weeks (January 1 to February 5) amounted to £9,816,993, 
in comparison with £9,424,149 in the corresponding 
period oi lasl year an increase of £392,844. 



NEW ISSUE. 



Kansas City Southern Railway. 

\, will he seen from our advertising page's, Messrs. J. Henry 
Schroder and 'Company offer for sale, al ioi pei cent, $5,000,000 

ol refunding and improvement mortage 5 pee cent, gold 1 Is 

ol die Kansas City Southern Railwav Company, due April 1, 
[950, which, ai the exchange ol $4.87, plus the English revenu, 
stamp, is equivalent to ^209 7s. tod. per $1,000 bond 1 . The 

present bonds, together with $10, ,,<„„, already issued, form 

pari 1,1 am authorised issue of $21,000,000. The bonds are 
secured l,\ .1 mortgage on the company's entire property, with 
the exception ol certain other bondsi, and they are repayabl< 
at par and accrued interesl The company, however, reserve 
the righl to redeem th 2 whole outstanding issue al 105 per cent, 
and accrued interest, on any intereSI date, on giving sixty 
, lavs' prior notice. Though the bonds are issued to bearer, they 
,.111 lie registered in the books ol the company. The Kansas 
Cit\ Southern Railwa\ Company owns and works about S27 
mil,, of line and affords the shortest route from Kansas City 
to ile Gull ,,l Mexico. The company also owns important 
terminals connected with all th, railroads entering the city, and 
an important terminal at Port Arthur, with .1 grain elevator 
having n capacity of about 500,000 bushels. The proceeds of 
the present issue will be used for reducing grades, improving 
road-bed, and 
to Sdb. rails. 



the ic ' 1 ei eipl - 
amounted to $1 
the present issi 
to b< a well-set 



npleting the relaying ol the tracks with Solb. 
or the twelve months ended December 31 last 

alter paying interest on outstanding bonds, 
15,336, and as the sum required foi inn 

amounts to onlv $250,000, the bonds appi ar 
red investment. 



BANK RETURN. 



The return of the Hank of England for the week ended 
Wednesday, February S, compared with that for the previous 
week, shows the following changes : — 



' BANKING 


Feb. 1, 


Feb. 8, 






1910. 


DEPARTMENT. 


1911. 


1911. 






£ 


Liabilities. 


£ 


£ 


£ 


£ 


3,474,090 




:. . : 


3,532,373 


11,995 




7,891,151 


Public Deposits 


10,953,074 


11,746,400 


793,326 




[4,764,088 


Oilier do 


41,867,051 


11,751,278 


— 




12,075 


7 Day Bills 


86,002 


32,695 








Assets. 






Decrease. 


Increase, 


1 1,013,421 


Govt. Securities 


14,905.493 


14,905,493 


— 


— 




other ,1 


28,807,937 


28,219,391 


588,546 








20,2112,01 15 


27. ,17,11211 






1,173,830 


Gold anil Silver 


1,014,070 


942,937 


71,133 






[.465,000 


1,465, 




In, Teas,'. 


Decrease. 


27 227 055 


Reserve 


27,210.07:. 


28,490,857 


1,274,782 


— 


;i ii9 p. . 


Ratio 


51.49 p.c. 


53 22 p.c. 


— 


— 




Hank Rate 


1 p.c. 


1 p.o. 








Market Rate 


3: p.o. 


3,1 p.c. 


— 





ISSUE DEPARTMENT. 



35. 1112,110 and Bullion.. 

5 : - ,2,410 Xotes Issued . ... 
27,798,0s.'. Circulation 



3 I 153,035 

53,91 lll.l 135 
27,701,030 



;,., 19 1,060 
:,l,,|,,,ii,;,i 
27,297,140 



1 BBRUARY II. 1'jM . 



Till KAII.W \Y I IMI S. 






MEETINGS AND REPORTS. 



LANCASHIRE AND YORKSHIRE RAILWAY. 



Feb. 

Feb. 

Feb. 

Feb. 

Feb. 
Feb. 
Feb. 

Feb. 

• 

Feb, 
Feb, 
Feb. 
Feb. 

Feb. 

Feb. 
Feb. 

Feb. 
Mar: 



M 



H 



. i j 



• 15 



FORTHCOMING MEETINGS. 

[Tues.). — Alexandra Newport and South Wales) Docks 
and Railway Half arlj i, 1 |, St. Mary 
Axe, I C, at 2. 

I Cavan and Leitrini Railway 

Liverpool Overhead Railway (Half-yearly), 

North Staffordshire Railway (Halt-yearly), Stoke- 

upon-Trent, at 1.45. 
Cork. Bandon and South Coast Railway 1H.1I1- 

yearl; I ork, il [2. 

East and West Yorks Union Railways 

■■ ! 

Great Northern Railway Ireland 

\mii'! linus, Dublin 

15 (Wed.). — Great Southern and Western Railway (li.ili- 

1 erminu , Dublin, 
at --. ' 

16 J (Tlr.i: —Great Western Railway (Half-yearly), Pa 

t,iii Station, .11 r.2, 1 ollowed 
Mi 
16 (Thur . —Manchester Ship Canal (Ha 

11, ill, \ er, at 11. 

d by .m Extraordinary Mi 
16 (Tliurs.).— Midland Railway (Half-yearly), a1 D 

1. so p.m. Followed byWharncl iff e meeting. 
(Thurs.). — North London Railway (Half-yearly), I 
Stal ! m, \".\Y.. .it 1. 
(Fri.). — Brecon and Merthyr Tydfil Junction 

: i Bishops- 

E.i 'i 2.30. 
-Cleator and Workington Junction Railwi 
yearly), Centi al Sta I 
(Fri.). — Didcot, Newbury and Southampton Railway 
(Half-yearlj , 
S.W., at i-. 
-London and North Western Railway (Half- 
year) al i-'. 
(Tues.). — Bengal-Nagpur Railway (Extraordinary), Win- 
• II us ' 
-Whitechapel and Bow Raihi.iv I 

4.1, I 1 inn y Square E.I at V15. 
-Alberta Railway and Irrigation (Special), 

Wine I B.C., at 12. 

-Furness Railway 

■ ed by a Spei ia M 
Neath and Brecon Railway 
Chai 
(Mon.). — Budleigh Salterton Railway (Half-yearlj 

loo Station, at 11.30. Followed by 
Whan liffi Mei 
28 (Tues.). — Metropolitan Railway of Constantinople 

, Bucklersbury, E.C., at 3. 
h 28 (Tues.).— Ottoman Railway Half-yearly), Wind 



Hunt' 



16 



T 



'7 



17 



■ '7 



-t 



-1 



-: 



Report 

should be sent as 
The Railway I 

phf. 

Railway Debenture and General Trust Company. \r\ ■ xtraordin- 
meeting was held al l\ '■ 'ndon, 

I ' , on January 27— Mr. C. C. Macrae presiding— to consider 

of liability on the shares. The chau 

tions, said that thi 1 To pay ofl 

£424,000 ol [ "I the lial 

£10 un< ■ ch £20 share. The company had a paid-up 

share capital ... t /, ■-'" 

each, on which £10 only had been paid. They propos 
split these shares into 

share- '!" ,al ;,s lh '' 

£5 paid and £5 unpaid), and to make 

:M<! ,1 "" 

oth-r an ordinary share. They would then call up the £5 unpaid 
on each ol This would produce £500,01 

thereout they would be in a position to pay in cash the whole 

J.T-4 000 ol I 

i . ,nd not convert into 

. , -hem mighl 

The res i'''' 1 '- 



The 1 

I S, Sir • ■ 

1 M k'- 

Mr. K. ('. Irwin , havi 
ting, 

I 11 \lk.\l \N mi 

an analysis ol whii : iilwav 

immend a bi id than lasl 

They had n< 1 pain < )n 

new liiK - and works they had spent £82,865, including 

ed to the D 
remaindei li.nl been principally • 

getting 

which , and 

:. anil 
they would spend on nev : ' 

out how fully they were now benefiting bj irefully 

il during the pasi few years on im- 
proving thi I ! 

up-to- 
date, and satisfy the requirements of trad 
Revenue. 
On 1 ci mnt the 

£3,176,176, an increase ol / 
; here was an 

£.2, 111. In mer< handisc 
there was an increase ol £24,583, and in minerals 
! 1 train mile •■ 

■ 

ncrease of ■ 
milt' foi 
ag o t h ey w 1 
■ 

w liii h spi >ke well for tl ■ 
engines and hauling longer trains. Thi I ital nui 

■ 
C 

in mind that there was an inci ,268 in 

lass season tickets, so that the fii 
ed on thi wholi . In tl 

an increase of £5,06 

was .11 897,656 pas ;i and in 

crease cent. 1 

1 the numbi 
11 j an incre: 5 8 P er cent * 

( )\\ in: 

■I 
1 lit- nu 
the total tonnage was 1 , 

■ 

only up £55, 

Expenditure. 
on revenue ai 

ling with traffic b 

In the '• 

< 
I 
I 

bu tl 

I 
I he staff had, - 



138 



THE RAILWAY TIMES. 



[February ii, 191 i. 



he hoped shareholders and Iheii friends would speedily put 
upon it. 

In replv to Mr. Sut< liffe Thomas, 

The Chairman said that it was impossible to give figures, 

but the share ild take it that there had been some 

. onsklcrable say ing b\ n ason o{ tin working arrangemi nt with 

': ;:,i and North-Western 1 

1 report was adopted and the dividends declared, and the 

directors were authorised to oppose all Hills in Parliament 

might prejudicially affect the company. Sir E. Green, 

Sir \V. II. Hornby, Sir G. A. Bilkington, and Mr. R. \Y. 

\\ ickham were re-elected directors. 



LONDON ELECTRIC RAILWAY. 



Mnir-.l.u 111 

, I 1 nnilton 



I ! 1 in -1 half-yearly mi eting was held 
-,, 1 Palace Hot. I, London, Lord ( 
presiding. 

The ( iiairman, in moving the adoption oi the report and 
accounts .m abstract of which appeared in last Saturday's 
Raiiav.u L"imes), said that ibis was the first meeting oi the 
consolidated railways Great Northern, Piccadill) and Bromp- 
-,,n, Bakei Strei l and \\ ate rloo and tin Charing Cross, I 
and Hampst. ad. The estimate as regarded capital < ■ 

ture for the future was that about £200, 1 would be required, 

of which about £So, would be spent in the coming half- 

Hii last half-vear's working was not unsatisfa. 
... 05,652,00 - passi ngi rs. It would be notici d ihat 
as c'omp ir ed » ith tin [>n vious half-year this figure sho 

i, :: : ... but it w.is not really so, as in previous tabl. s win n 

a through passenger travelled over the three bins he was 

f to e-a. li undei taki ig he was counted as three pas- 

: ie amalgamated system such a pas- 

., ,,", 1 ■ 1 ,i,ii as one. I aking the 1 ompanson on 

m sent calcul i issenger traffit si, .wed a -I ghl 

increase. I in passenger earnings fot the last ball-Mar were 

,00 showing an increase ol ^3,997 over the corrcspond- 

i ni , period I total revenue bad been £352,000, showing an 

., , | / 6,837. The working expenses were £.166, 
being a diminution ol £.-io 2 9 on the half-year. The directors 

,.i 1 lace the ar< lamps which now illuminated the 

incaixle -.nt lamps, the latter being found more 

, and cheaper. \fter paying their debenture interest 

1 I ., balance ui _£ioi,i I hi pre ' r. nee lour per cent. 

ibsorbed £63,100, I. S74, out ol which it was 

. ., ,j to declare a dividend ol \ pet ci nt. on the . rdinarv 

stock carrying forward £ 5,474- '" thl P' ast their company had 

up, in;. .11 fr. m the Lond «n ( ounty < oun< tl, 

which op, ned a system of tramways runni parallel 

wi tl, the Charing Cross and Hampstea<l tube. Phat now 

I undoubtedly attracted an an nt ol traffic 

. but he was glad to sa\ thai the) 

„ this, and the returns oi tin 

lasl ,,, ., 1010 and the few weeks oi the pre si nt year 

showed a satisfai toT} increase. He thought, therefor. . ihe\ 

might anticipat. an improvement in the coming half-year. 

report was adopted, and the dividend sanctioned, after 
c-eting ol shareholders formally approved ol 
a are being promoted, one for an est. 

I bno from ( hnnng 1 ross 

,,, Victoria 1-mbanl th. Baker Streel and Waterloo 

r Paddingtun, and the other to 

theeU-ctru generating Nation in Lots 

1 h. I sea In ;i joint ■ ' mmitti e ol tin Metropolitan l)ts- 

I Railwa: Companies. 

Mexican Southern Railway. \n ordinary meeting was held in 

I 1 , ,, lanuan 51. Lurd l-arrer 

1 M 'hal th. accounts now presented 

;,,,,,. ,, . ,eai under the new order ol things. 1 he 

incom. ' "" Erectors bad paid an 

interim dividend at the rat.- ol , percent, p.-i annum, and they 

I divid. the same rate carrying 

forward an ! ' Hulatcd the share- 

holders ii,-,, the irn.mii 1 thai had been mad, in 

: Mexii a in a. ' I" nditure, w Inch was 

m the previous year. 
J , v i,h the previous v. ai 111. \ had bad an 11 

In the capital ; ni "I £125, I 1 per cent, lirst 11101 

,|, i„ ,,,,,,, stock, which v. 1 Uigu 1 lasl al the price 

( ,cl< realis, d, I, ss commission, £. 1 

1. ' ipil 'I "v. 1 spent 

d ol , The capita] outlay oi ,„, 

- 1, which 

1 

In State ol I >a :a. a 



HULL AND BARNSLEY RAILWAY. 

[Ti. half-yearly meeting oi the Hull and Barnsley Railwa) 
Com pan) was held on Wednesda) at the Liverpool Street Hotel, 
London. Mr. W. S. Wright (chairman ol the company) pre- 
siding. 

Reviewing the salient features of the report, the Chairman 
said that the revenue account showed an increase of £^897 in 
coaching receipts, mainly from passenger traffic, which, so far 
as it went, was satisfactory. Merchandise receipts were less 
b) ,£4,809. -\" increas. in general goods traffic dealt with at 
Vlexandra Docks and Ilull Station was mure than counter- 
balanced by a falling nil in the imports oi grain and sawn 
timber, both of which bar! arrived in larger quantities earlier 
in the year, and from which they bad air. id) received a b-aielit. 
'I he imports of mining timber had been satisfactory, and n 1 eipts 
from minerals showed the substantial increas, ,,| £,17,750. '1 he- 
continuous expansion under this bead was noteworthy. Com- 
pared with K|.n the mineral receipts had increased by no less 
than 139 per cent. (Hear, hear.) Dock receipts were £"1,693 
less, owing to the smaller income from dock din-, th. resull 
ol reduced imports ol grain and wood, bul over the whole yi ai 
ther. bad been an increase in the receipts of ,£0.741. The total 
gross rec, ipts were £356,292, mil for the whole v ear £,"715,206, 
which was the highest figure yet shown, the previous highest 
being £657,052 in 1007. 

Turning to the expenditure side ol the accounts, the Chairman 
said locomotive power and running expenses were £73,656 up, 
1 if which the enhan, ed price oi coal accounted for ;£i,2oo, the 
remainder being due to increased traffic and the amelioration 
oi conditions ol service. The directors had mad. contracts with 
collier) owners in the South Yorkshire district at somewhat 
lower rates than last year, and therefore a saving might be 
anticipated under this head. Rates and taxes had increased 
.£027, due t,, increased poundage and higher assessments, 
mainl) in the Ilull district. The total working expenses were 
£"200,322, which was equal to 57.01 per cent, of the gross 
r. venue, compared with a percentage ol 57.22 in the correspond- 
ing period. In explaining why, with a gain of ,£11,607 in gross 
revenue, onl) ,£2,528 more remained to be transferred to the 
net revenue account, the Chairman pointed out that there were 
several items which were hardly comparable in the two p. riods. 
Decreased dock dues and increased cost of coal and rates and 
taxes accounted foi £7,000, and fluctuations of trade sufficiently 
accounted for the balance. With regard to the future, he said 
there was general concurrence in the opinion that trade was 
likely to continue good all round, and tin re was every likelihood 
that the company would b, able to maintain the satisfactory 
position which it ai present occupied in the railway world. 
(I bar, bear.) It would be satisfaclor) to the shareholders l.> 
know that the amount standing to the credit ol the renewal and 
contingencies fund was £.142,201. This fund realh 
sented deferred expenditure, and the directors would be called.' 
to dip into ii from time to time for renewals of engim s, rolling 
slock, and so on. During the past year five passenger 1 n 
had b. in 1, newed at a cost ol .£15,250, and anolli. 1 instalment 
ol £"1,624 b.,,1 been paid in respect ol the cost ol th. 1, new 
passenger coaches now in use, lb though! the) would 
that ibis policy ol making reasonable provision for the future 
tended to render more stable the net financial results ol one 

y.ar and another. (Hear, hear.) During the year £ .975 

was spent on capital account, and ., further issue oi £.10, 

I on, p, 1 ( \ ni. Preference Stock had been made, on terms which 
the dire, tors coiisid, r. ,1 favoui ible . 

Referring to the negotiations with Ilull Corporation, the 
Chairman -aid that the directors regretted iti.it the) we re unable 

1 ann in) sat isf actor) resull with regard to the proposed 

working agreement between the North Eastern Railwa) Com- 
p.iiu .aid themselves, inasmuch as those negotiations seemed 
so far to have proved futile and abortive. Alluding to work 
under construction, the Chairman remarked thai the western 
portion ol their new river pier bad bi-en completed, and one of 
c, ,-e yors bad been brought into us, . I b second was 
pi lion, and ii w a- e\p. 1 t, d to be 1 ead\ in the 

01 two. The w orb in ncction with the 

remaining portion ol the pier was proceeding . xpeditiouslv. If 
nothing unfon-se-en happened, there was reason to bop,- that 
ick would be ready for opening within th. tie-xl 18 months. 
\ c. mi ,, 1 for the southern i„,n ion , ,1 the Gowdall to Br-'dthwell 
Joint Railway bad been lei, and ihe construe lion ol the line bad 
been commenced. The works on the remaining portion ol tin- 
line were ,,1 a lighter charae I. r, and ii would „ ,e, ssarv, 

in ordet to c mil, b the w he Ie ol th. hue sine,! 

place the contract for their execution until the end ed the present 



I'l 



I1RUAIO I I, 



[9II.] 



Till KAII.W ^ TIMES. 



1 



DUBLIN AND SOUTH EASTERN RAILWAY. 
1 129th half-yi - held in iJv 1 

Dublin, 01 I mi sd;i) , Mr. 1 \\ Pim 
ng. 
The Chairman, in moving th,- adoption orl and 

analysis ol which appeared in last Sati 
(R ill w w I :-. 

cumstances than had been usual with tl n< time back. 

II \\ ith an increasi in reci ipts, 

ilmost even section ol the traffic, anil ami 

;s. 1 nl. in expenses, the) finished the 

1 ar wiili a balani 1 transfi 1 • ue ol 

j£4iOii than the amount transfeiTed this lime 

hi. I cash accounts showed .. 

1 ' 18s. 7d., as against an 

overdraft last year "t X- ' s ■ " • -' i°s. 91L The) had 

interest f< >r the hall-war instead ol the hitherto customary 

mhI ili<- final result was that, after si 
to the worked lines suspense account, a sum win. 
• 
. actual it contingent, under this 
£5 -' 

available for dividend, which was ^T6,i : more than 

last year. lh. j wer< thus ena 
dividend, amounting to 
but also !<■ :• 

mum on the • k. (Applausi . 1 I his ab 

[Ss. 1 id. £l,$26 2S. Nil. in.- 

ir, and within a fraction ol another half-ye; 
same stock 1 » ard to tin new u 

sscnger traffic showed a net increase, exclusivi dI season 
tickets, in numbi 1 - and £ eipts. I In re 

w as a dn ip iii sea but ii was n 

real, being compensated by the increase of weekh zone tickets 
which had tak< 11 tl n with 

linary returns at the rale ..I" 1 _• jourm 

nul cheap midday return-, had produced a con- 
siderable increase in the number ol passengers, and In 

both these issues as well 
eason tickets. The growth in parcel traffic, 
in which there had been a temporary pause, had 
resumed, and the I ..ear was the highest thi 

ever had. 1 1 n steadilj ii 1 some 

. mi the half-year 
in money, and the total for iojo was the highest on n 
In minerals other than coal they had the largi 

1 mi m \ . M.ost of the ii 
was d ttput at the quarries at Arkli 

Rathdrum. In live stock tie more with an 

1 
traffic receipts was I w ith 58. i fo tl 

I hi ; 
had relaid during n ol the 1 1 iad, 

miles, the « ,\ hich had been di 

uld renew thi 
in about 22 years, which was well within the period of life 
: manent wa) yhe 

1 rain mile -a. • 
it detriment I 

■ attracted a large crowd, whii company 

ial trains w ere run, \ , ,| coa | 

I ! i b\ judicious 

1 mile w ithin 
a small Ira. I 

were now being rebuilt, and a new ten-wh 
of an is also in hand. 

In- mineral service were built during 
\\ ith I lines — 1 1 — r 

circumstances were now such that tin 
time had < time when ii was \ 
amounl t. . this sus] 

was no chance episode, and the) had been graduall\ 
working round to 
he qui ted a numb 

'■'■hich had bi the provisiti 

ill further th, 



stock for the older vehicles still remainin 
a the perin 1 

1 

Mr. Frank Bro 

I !. II 



MIDLAND GREAT WESTERN RAILWAY OF IRELAND. 

1 I'hursdav at 

Terminus, Di [-1 R 

I ft RMAN, ill 111. ■ - 

ol lasl - id that the half-year had in ma 

I 
had in 

1,499 I board con 
reasons wh) d not declan 

Ii was ., « ise course to . 
building up as substantial a r< 

While the board 

■ - « ith tin ii 
bitration, he could 
1 hat « hal the din h mi « ould add lai 

bill. To 
pa> had bi 

k had lie.il 

111 boards were friendlv w 

y 
the I'e 

hing when the) would h 
having twocl as the number ol first-class 

I; d\\ in. 11. .1 di wn to less 
ii ■! . .a the 1 .. 
and mineral traffii 
nage was in prai ticalh all d. I he live 

al'lic had al ■ 

not t" the same I 

in tourist traffic b\ thi 

1 liid.ii to \\ • stpi hi , but it would enable i 

I i ! 

1 ..ne hotel ti 

theii tout ist traffic. I .■ ■ 
..1 permanent ra was up 

iles .•! the railw a) . The < ompanx '• 1 1 
the high rates which modi rn municipal and ■ rnment 

11 was £ 1 4.- 1 10, ol w hich £11 . 
1 . Vlhenn . a disl 

1 . 1 trans-Atlai 

the din 

promotion ol a Bill in I' 

willing 

II . ( - Crs.vTK seci nidi d I 



London and Blackmail Railway. 



140 



THE RAILWAY TIMES. 



[February ii, 1915. 



METROPOLITAN DISTRICT RAILWAY. 

The 93rd half-yearly ordinary general meeting of the Metro- 
politan District Railway Company was held vesterday at the 
Hotel, \ 'ii toria Street, S.W., the Rt. Hon. 

I- 1 ""' 1 '-:■ Hamilton, G. C.S.I, the chairman) presiding. 

! Si 1 ri 1 irv Mr. \\ . E. \landeli< k . having read the 
noti< i' ( onvening the meeting, 

rhi 1 id Gentlemen, the working of the past half- 

d has been satisfactory . I w ill deal In -,t \\ iih 

■ 1 ri .: 1 capital expenditui e and then \\ ith 

pts and working i xpi n 

luthorised has keen increased l>\ £j .x- . 5, ■, ,, 1,1 

£,"175,000 has been issued. This increase is due to the 

partial capitalisation of the arrears oi interest on the guaranti - I 

• 1 in. stock. The capital expenditure during the half-year 

has been £ - ! ' ■ ■•-•■ and that includes the ,£175,000 to which 1 

have alluded. The other items ol importance on expenditure 

ut £25,000 on the company's station at Yi 
there are also works at the Mans'ion House, Putney Bridge, 

and elsewhen ount for about £715,3 il this capital 

expenditure. The estimate for future capital expenditure is 
. 00 u ill be for m n rolling stock, and 
naindei for the development ol surplus lands and gem ral 
improvements to out railway system. During the pasl half- 
year wi 500,000 passengers, an increasi ol :, m,ooo 

ovei the corresponding six months ol the preceding veai 1 1 is 

rd 01 passenger traffic, and it shows an increased percent- 

agi oi 7.82 ovei the traffic of the pi e< eding yeai I 

earnings amounted to £7280,000, showing an increasi ol 
£719,200, and in percentage an increase "I 7.4. Hie average 
receipt pei passenger was 1.S41I. The gross revenue lot 1!" 
yeai amounted to £300,800, showing an increase >'l £21,195, 
being an increasi in percentage ol 7.58. Phi total working 
expenses amounted to £7150,000 I ease of £2,081. I In 

whole "I oui permanent wa\ and buildings have been well 
lined, and this decrease in working expenses is mainly 
hed ( 1 >st ol the < urrent. ( >n the other hand, 

there havi l certain charges which have reduced the saving 

thus effected, viz., the improvement in the conditions of and 
in 1I1. hours "I certain ol our staff. Now, the result is, that 
after we pa_\ the interest on tin rent charg< stock, the prior 
lien stock, the debi ni un sti •■. k, and the right - 1 

purchases in connection with thi City lines, wi havi 1 
balance availabl< for dividend ol £63,021. This balance shows 
.•in increase ovei tin balance ol the same period lasl year ol 

1 initial balance of £7S, 51 10 
rainsi £3,500 lasl yeai Having this balance available 
for dividend, we are distributing ii as follows - We an pa} ng 
£728.500 to the 4 per cent, guaranteed stock, and we are also 
paying a warrant of £6,250, which was part ol the compensa- 
tion given i" the holders ol the guaranteed stock in payment 
of I In cumulative arrears in interest ["hen then remains a 
balanci ; and 1 nn ol that \\ e pn pose to pay .1 

dividend for the half-year al thi rati ol >_. pei cent, on the 

isl pi ' orbing £26,250, and carry forwai I .1 

I congratulaN tin patient and L mg surfer- 
shareholders upon their now getting foi 
whole lend on their stock. The amount paid in the 

first half-yeai was ; per cent., and adding the two dividends 
together, they receive -, ', percent, for the whole year. N'ow, 
it is t> el e< red a | us di\ icl< nd, the Lasl 

dividend being paid al the rate ol £3 2s. 6d. in the veai 1900, 
and I hope that not onlv will this pn senl dividi nd be 1 on- 
tinuouslv paid, but that we shall, in a von short tin* . >. abli to 
en-no holdei - the full dividend to which the) 

1 N'ow, then are two Bill's 

inic i « hii h n quin s .1 little < xplana- 

1 i 1 Bill pi 01 d h\ tin I )isti ii ; < ompany for the 

purpos, "I aiquiring possession ol the power house at Lots 
Road, ("In Isea, whi« pi rt) of the I ndergroun I 

I think it is a gem rail) admitted maxim in business 
1 hat when i-nti rprise or an) 1 onsidi rabli 

persons consumers ol an article, they should, il 
1 voi< e and somi < ontrol ovri the manufai 
iln \ sell you, and I think 
Ibis maxim is espi ■ il>l<- to railwa) 1 nterprisi . \i 

,| t lie .ini.i' ime is suppl'u d 

tiny 1 1 1 eh is the properl 

nd, .111.I w. . .v enl under an agi . 1 

meyeni b.-n I . I'hai igrei mi 111 ru 
I date.) from thi v-cai 11)04. I ndi 1 thai agn em. ai 
: ..1 thai pi riod, to tali; ..II the 
m, N'ow, the 
.~oii.il.li .,111 . \\ e pay tin 
■in, ill profit, and we pa) 



inti 1. si on the cost of the acquisition of the land and the build- 
ing's which we have erected upon it. 1 h. property is .1 \,i\ 
valuable one, and it may be that the Underground might part 
with 11 and hand ii over to someone else, and it might so 
. that those who came into possession might not bi .is 
friendly disposed towards us as are the present owners. It 
sometimes happens that the interests ol the user and producer 
■"''■ '"■' identical. The consumer might wish to have certain 
improvements effected in thi machinery, and in the methods 
oi production, which would entail considerable outlay. The 

1 !;;i • ' ■'■ m r oi the plant might not see his 'wav to 

provide that outlay, but if the producer and consumer are the 
same body then their interests became identical. There is 

th< 1 consideration which influences us in urging this upon 

vou. Ii is quite clear that as the railway compan) develops 
its operations and increases the number ol trains it inns, so 
it will consume more current. Therefore, the more current 
that is consumed the greater will be the profil upon the pro- 
duction to the company. Why should not thi railway, which 
is the consumer, b) purchasing its power house, appropriate 
to themselves in the future this increased profit. Now, 1 have 
\'iiiur..l to givi sum reason — I could multiply them -why 
the directors thought it advisable to see il they could not 
acquire this property upon fair and reasonable terms, and if I 
am asked what I mean by fair and reasonable terms, I should 

-.0 terms which would not place the • pany, if they acquire 

i 'M "i this property, financially in a worsi position than 
re-re before. Now, the nexl question which arises is, how 
will it be possible to provide the capital necessary for the 
purposi oi so valuable a proper:) as is this power house? At 
present the whole ol the payments for < urrent is pan of the 
working expenses ol oui lines, and the same conditions pre- 
vail with the London electric railways. Now, if it wi n p 
in make as security for an) stock which had to be raised for 
thi acquisition of this power house — if it wen possible to make 
the working charges securitv for the stock so raised — then 
mane)- would be obtained al .1 low rah ol interest, and we 
should obtain partial possession oi this propert) in company 
with He Electric Railway, and none of our debenture-holders 
ni prior Inn holders would be in an) wa\ prejudiced b) tin 
operations thus effected. The procedure which w. propose to 
suggest for giving effect to this plan is as follows; We pro- 
pose ti. incorporate .1 joint committee ol the two railway 
companies and to authorise the committee to purchase by 
agreement this power station from the I nderground Com- 
pany, and to lease it tor 99 years to the two railway com- 
panies. I'ln two railwa) companies to pay to the Joint 
(. . ,, nihil iee a i'i ni (one moiety ol which will be a working 
expense 1 .1 each railwa) company), and this rent will be applied 
in paying the interest on the special stock which the Joint 
Committee will issue to provide the purchase money 1 ■ 
paid in tin' I nderground Compan) for the' acquisition oi thispro- 
perty. The London Electrw Railway Company are partners with 
us in 1I1. contract, and the proposal is that each railway should 
pay, or provide a iet) ol thi sum necessary for the acquisi- 
tion of this powei housi Each railwa) will be liable, in the 
first instani 1 , for a moii 1 \ oi this rent, but the appointnn nl of 
this charge, and ol the expenses ol working the power house, 
will be subsequently regulated by the amount ol current re- 
spectively used by the two railways. Tin power house, when 
leased to the two railway companies, is to form part ol their 
undertaking's and will thus hen, lit the securitv of th ir deben- 
ture-holders. 

V meeting will be held after this, when we shall ask the 
ass.ni .4 the shareholders to the ntroduction ..I this Bill. At 
pi, ..ni ii is merely an enabling Bill. II ii passes through the 
House nl Commons it will then be necessary to considei care- 
Tins an. I conditions of the purchase of the power 
a are one or two other matters, not of gnat im- 
1I-1, 1 ' mi. lined in this Bill. I n power house has 
M'liei iuisl\ equipped, and al present the powei con- 
onsiderabh less than thai which it can produce. 

n implied 1 ight to supply < in 1 enl to the 

, on w ith u- and we pi ojxise to in ike that 
having thai authority confirmed in this Hill. We 
1 propose to take powei to run omnibuses, cabs, and other 
road vehicles should we consider it necessary to do so in con- 
u, , tion w ith our si 1 \ i, , . I hi 11 then is another Bill to be 
introduced into Parliament bv the London I l.iiin Railway 
'ompany, and thai concerns us indirectly. Pari of that Bill 

j* for thi nent ol the fa* ilities terchange ol 1 1 affic 

;l l Charing Cross. Ml of you who travel by thi I nderground, 

„ la tin Districl Railway', will know thai tin interchange of 

i haring < 'ross between tin two tubi s and 

Lh< Districl Railway is al present most inconvenient and 



fullv th 

hi. Use. 

portana 

In . II \r 

sumed 
We ha\ 
, , physi 



February i i, 191 i.] 



THE UMI.W \Y TIMES. 



Hi 



inadi qu it< rheri is an absolute haitus b< in- en the Euston and 
Hampstead tube and I St. line, and the p 

connection b< tween the Bakcrli I 1 line is, 

as anybodj who has used it knows, 

■ 
in din • ,,1 t |,,. 

D 
Railway Conipan) will bear the wl 

instance, o( th< cl bul the District will pay 

-• upon half of the cxpenditun 
R ' ij maintains 

service .11 tl ,| with 

: ifhvay. \\ - 
during the I see no 

why our progress should 

11 h as this must, from the 
chich wi- work, ami thi 

11k our 
improvement, thouj 
Practii icss is the • 

numbi 1 

• 1 ipts al all. We 

ill as well . 
• 1 - the length 

ail with a similar i 
and which ran over a much lai 
well ..- b I, I think we may fairly claim 

which 
our traffic. 

hour. A littli 
City we now run 

« hen our m ' 

I think 
when 

officials 
organis 
nol onl 

1 
additional chargi s. Oui 
attent'n - - nmittees in the li 1 

• rod at Turn- 
ham 1 ireen in di sibling the tra< k. I 

by the London and South \\ ' mpany. It will bi 

plcted this year, and we shall have to pay 111 

will amount to si 
but I am assured by m\ 
time, we shall prol 
traffic which it will produce. On thi 

is warrants 1 
■ 
holder- I i I am 

: ilcrial 

I Chairman t : 
its. 

Mr. W. II. Brown Deputy-Chairm 
ion. 

I Chairman, ii 
that the East London Railway was nol in shing 

financial condition. There were six leasing and it 

the line were electrified the whole burden would fall upon t ln>~i 
undertakings. From thi 

sirable thai th< lit 1 ified, bul it ■■■ 

which ■ think 

that the board of the Distri ' 

that thi ricating them* tho financial di 

ties attendant upon the working of their own line, 

selves fresh responsibilities in regard to other lines. He 
thought he I ,\ hv it would 

be to the compan; 
at Ch 

hut if they could .. 
and :• 

pany. So far as he km 
favour of the 



Would | 

would nevi 1 1 it. 

An - 
appro 



GREAT NORTHERN RAILWAY. 
1 King's ( 

I'he Chaii n moving tl,- 

which we published last week), wenl 

said lli 

was jusi hall u hat had I" 

I 
ighout the in 
an inci 

n, and wei - 
and the developmi 1 

hat the 
building a little better than it I I he in- 

lition which 
• iuld not all- h their 

n the hoi. ] .,,,!<] Dc . 

gel m 

little lo' I 

ining whal musl 

as Mr. 

1 had buill 1 

on th ■ joinl sto< I 

diture 1 

they liud <i- 
ai tually renev 
had evi - and the nui 

stock ; the i 
I 
titled to -on,.- . redil for this, for ihi 
■ad spending li ss 

1 of the im 
- due to im 1 
lo man. and tin extension ol t 1 - I 

ed contribution to the Su| 

quinquennial 1 

conti ib 

- 

from tl 

lly 1 xplainc 

■ 

■ 



'4- 



THE RAILWAY TIMES. 



[February ii, 191 i. 



rather than giving awa) everything in dividends . (Hear, heai I 

1 1, explaini d the i the < -a n> j Fund 

in [900-1, when their coal bill increased b) ,£100,000 and 
ling 10 th< credit "I the Contingency Fund, in 
suits ol anticipated compi tition by tin then 
I entral, came in most us< full) . The chairman 
then proceeded to refer to the various works in hand at Fins- 
bun Park and tin contemplated new bridge .it Peterborough. 
! in en .111 in< ri .1-1 d expenditure during the 
half-year, some of it was quit, special and would not recui 
again, su« h as repairs to buildings, and so on. I he 1 spi nditure 
nain lime was heavier as the) now- put 
down 95-lb. rails, and in some cases 100-lb. rails. From that 
cure the) would benefit in future years, and he thought 
vas a wise expenditure. Having referred t< the incn ise 
ven to locomotivi firemen, which he thought they 
... their work was heavier, the chairman 
further explained the increase in the wages bill as being 
parti) due to the Award. In conclusion, the < hair- 
man reminded the proprietors thai was the jubilee 

ol ili«' railway, and it was interesting to know 

1 the\ had carried not onh the Ii 

but the\ had paid the highest dividend for a vet 

time. Hiese things were subjects for rejoicing in a year ol more 

rous 1 i.i-l. . In . onnei tii n u ith the board's pro- 

h. 1. minded them of the important fact that in the 

Doncastet district then was quite .1 remarkable development 

in the South Yorkshire coal fields. He did nol want to pul 

il loo I igh, tin thev now had collieries east and west of the 

.,,. . .aid he would not lie at all surprised within the 

s to see in thai disti ii 1 eight or ten new collieries 

put down, each oi which would be drawing more than a million 

1 . 1 was quite .1 phi norm n .1 d, v« lopnn ill oi that 

area. I'hese collieries would be within reach "I very good 

., v. iihni easv reach of the coast, and hi nee were in a 

it ipi 1. e'ffectivelv tor the shipping and 1 tporl trad. . 

I iimc d il>. \ had gol g I coal for .ill purposes : steam, 

household, .111.1 coking, and he was looking forward to the 

did not, someone would be able to tell tin m 

1, of the large advantage? the Greal Northern would 

thai .....I field. Thai was .. very hopeful feature 

linn. , and one which II to bear in mind. 

In .a.. He hoped the proprietors f. Il that the ml 

1 good one, that the provision the directors 

had mad. ».i- .1 wisi one .,- regards tin future, and the) could 

,1 thi ..--urn... . ili.it the) had never pre- 

.,, , ting with .in ai count « hit li showed the affaii - 

,,i the 1 ompan\ to be in a bi tter 1 onditioii than the) were in 

(Loud applausi .1 

In ,!,, unavoidable absensi ..1 the deputy-chairman, Col. 

!■ ■ , Sin 1 1 1 v . 'Kill (Biggl. swade) seconded ill. motion, 

which ■.' ,- . irried iicih. con. 

I h, . iving been formall) declared, the Chairman, 

Col. Shuttleworth, and Sir Frederick George finnbury were 
unanimou d\ re-elected direi tors. 

Mr. lulia'n Hill was unanimoush reappointed auditor. 
M r . \V.\i.i-ord suggested, in view ..I the probable necessit) 

il, the advisabil 
issuing ., .. 11. .in amounl ol bearer 01 n gistered st.x'k. I his 
v ,,uld . iisiire its !.. ing laki n up on tin Contim m and 

il mpain to gel .. betti 1 pi 

I hi 1 iiai'kman thanked Mr. Walford lor tin suggestion, and 
..,id 1 . h, ih, .uglit that then- w 1- a good di al to 

|„ arei . . 1 nil. ates, if ii were possible to do 
.., .Ill ii 1, In in regard lo 
: matter would be con'sidi 1. d, but Parliament in 

,- ..ill. I be required. 
In 1. 'i.l". lo in, ..li' 1 lin, huldi r, who pointed out that the 
id gon, dow 11. nii.l ask. '.I il il 
I . |-d bolisl 11 

'Phi Ciiaikma lid '..'. as no such urn stion before tin 

Hoard at m . s, in . and tin re w 1- im ii 'diat< intention ol 

,,, [kin;, an') 1 hange 111 tin -nl.ni I. 1 < I ■ - If the\ did di 1 ide 
,n do ' 'I "I li"' fact I ' fon - 

I i e ol Sir l.i -I. a Prob) 11, 

K C Y.O., which was , .m-. ,1 b\ tin d, ath, during tin night, 

: I even oin . and he asked 

In Sir Lesley tin ' mnalhi and 1 lol 

,1 ih, in. , ling wit.h him in hi gn ..1 1 ivi ment. 

Thi- ' i i" 

liny ..I th' propi i. 1 Ilowed fm tin purpose 

Id, , ii U . and ipfit \ in: I ig Hills now In fore 

\ 1; II •, ml fl S'nil Rail* .> r..i... ■ , t, ,.> 

flirthn imlVPl 



upon tli.it ,'inn],:iiiv ; to authorise the construction of woiks ,.t Peterboroug'h 
bi the Great Northern Ifnihv.,y Company :,n,l the Midland Railwaj Com- 

|...iiv; tn until, >, is, tli, eoieti 11.11011 ,,t widenine-s and other works 1 the 

acquisition of lands i,v the Great Nortl S < pany and the 

Great Central IS-iilway Company; to confirm the i Im-. „t certain lands 

i... thi Greal North, in :ui.l (;..■ .1 i:,.-t.ii, Joint 1 ommittee; to 

the :i..|.ii.-ii lo the Great North, mi, Railway Company oi the undertaking 

ol the .\lien.ll mil and Palace Railway Companv und for other 

"A Bill to confei additional powers upon th Midland Railway Company 
for the construction ol works and upon tint . .,11,1.11. i .mil die Mi, Ih nil 

G \'mt Railways .1 1 Committee and the Cheshire lanes 

Committee tor the acquisition of lands; and for other purposes."' 

' A Bill to extend the time for il rupulson i.ui.h,.- .,1 lands and 

for the completion of the railways and works of the Senforth and Sefton 

1 ui ' ■". It.el, . . i'oiiii m,i, :,,: [hi 1, .-in- ... th ■ said railways 

to the Gre it Central an I Greal Sorth, 1 1 1: din ., 1 on ■ - jointly; and 

for othei 

E " li .,! ih. Bills wa citor to the 

. 1 imp. nn\ , and the i hairm in hav ing .ni-»,i ed . me or two 
questions in detail, the necessan resolutions were unanimouslj' 
adopted. 

A vote .,1 thanks to tin .li.iinii.in and the board for their 
■ \ ear closed the proceedings. 



NORTH EASTERN RAILWAY. 

The half-yearh meeting ol the North Eastern Railway Com- 
pany ... as held al York yesterda) Friday), under the presidency 
of the Hon. J. Lloyd YYharti n, chairman ol the company. [Tie 

numl 1 proprietors was reported to be 46,575, being an in- 

, ri is, ..11 the half-year ..I 432. 

I he ( '11 virm in stated thai it was proposi ,1 1 1 pa) .1 dividend 
-I <iii., making 6 per cent, for the year. the revenue 
for the half-year shewed an increase of .£"01,540, and had it 
nol l,e, a for special circumstances, there was no doubt that the 
-• would have been largei and theii receipts would have 
probahh reached a record figure. The coal strike in Northum- 
berland and Durham in the early part of last vear had n 
advi r-e ,11,., 1 on the traffic in the second hall oi the year, 
there being .1 decrease in shipments ol coal at the northern 
ports of no less than 400,000 tons. In the second place these 
receipt? wen serious!) affected by the disturbance in the ship- 
building trade in the autumn. I he third reason which caused 
the receipts to be less was the strike ol their own men in 
July, while these labour disturbances also diminished the 
receipts, and did init enable them to reduce their working ex- 
penses in proportion. the strike on their svstem last summer 
pul 1 hern lo considerable additional expense in order to pro- 
vide for the requirements ol the publii . \s regarded the 
1. vi no-, ih. , ti.-n Inn- receipts both for the half-year and the 
vi 11. notwithstanding the belated summer, continued a record. 
They had .m inci 'ase ol nearh a million pass, ngi 1 5, and 
The decrease in lirst-cl iss passeng< rs had 
: . though there was still a small decrease, [n 

e I- n.ifiii the) had an im rease arl) ;o .,000 tons, 

agricultural produce and building materials having shown the 
greatest improvement. He was glad I vement 

in iln latter, as I.., sevi ral balf-yi :irs then had been a falling 
off, and he hoped i h. \ might regard this .1- a turn in the tide. 
li was a,, 1 onh important in itself, but was important as an 
index ol the state ..I business gcneralh in their district. 
Vppl ins. . Iron and steel, in spite ol .. . 1 11 i 1 1 •; .,1! in the 

earn ngs ol pit; iron, showed in increase ol r , tons. The 

increase in goods and live stock traffic amoi a to .'J40. 

I akin" the whole ol the miin ral traffu togethci . the 
tonnage \\ 1- almosl identical with what il was a vear 
ago. The receipts pei Main mile for tin carriage ol goods 
1 ;,, just over 10s. 6d., .m.l for minerals to 
,.vci 1.1- , 1 result brought about b\ the efforts i>l tin 
IratTn oftii ers to impi ove the 1 . iding ..1 the freight trains. 

I In . \| linn, diowa .1 an in. reasi ol £ S5, 1 10, the bulk of 

x, hi, h .\ .... dm lo live im 1 , iseil cosi ..l lot omotivc coal and in 
repairs and renewals ol wagons, which showed an 

... .nol iln in i,a-e in salarie- and wages, amounting 
to' .il,. ml /J 1 , oin 1, .he' parth to lilt opei ation ol Sir fames 
\\ oodhou -e"- award and pai il\ to impi u\ is in the • Mi- 
di is J . : ', ici .,: tin lr 1 li Tn ,! staff. i Vpplause.) Only 

of tin- incn ase in 11 mpensati -cpresi nted pa) n 

I,, ih, puhlii . a mallei about win. Ii In tin tight the) might 

gi a iselvcs. 1 Vpplause.) I he din ctors w< re 

1 spei ial reserve for the repairs and 

. ; and oilier U . .1 k'S, , ail\ illg foi W . 1 1 • I 

id reserve, and in. reasing their i any for- 
ward fi a to /.'io;,.i;i. Satisfactory progress was 
nndc willi th. Hull Joint I >• i k, and In thought the) could 
thai a. m vear il would In opened. Progress was being 

ii id. n iih iln new west entrain e it \\ ■ - II n tli i 1 I )ocks, 

and ih. \ would shurlh undertake the renewal ol thi north 



FeBRLWKV II, lull 



Till. KMI.W \Y TIM] 5, 



143 



cntranci . The contract for new 
. and the work should bi 
:, it was m ■■ 

od il onlj ill- is fn <■ 

troubles w hich ol late had 
1 nt in vai i b; | llr 

1 11 Railwa) . Thai led him to speak ol tin 

1 ,.\\n raihvaj last week. " You will all agree will 

'•as 1 think the public generally do, that as in 

le last sumim 
justify tin- men in leaving their work in thi 
they aid, and ii i- verj disappointing to find that North I. 
men art u t with so little n 

npanv'and the great ind 

\ you will h 11 
men was disavowed b) the leaders ol thi 

was bound 1 ules provide 

ii\ them I" it 
w ith the law, and, if 1 mistaki 
m on the question in dis 
'u the North I rn Company, diffei ing in that 
railway 1 1 have 

calle< thi men's union, i 

1 l ngland, 
f view of tl 
of discussin 
tiating with an organised body, instead of with individual men, 

1 1 1 trade union 

realh t< the views of the men, or fa ol their 

- which prompl the empli 

S > h have taken 

Hull, 
the wl te Compam 

1 
will receive the most careful consideration of my a 
myself, but, much as we regret the ii which a tail- 

wax strike entails u - impossible that irn 

such as that nl the Hull men should be tolerated. The 
re well justified in the a< I k in announc- 

ing that unless the nun returned to their work, I 

fill up their places." 
(Loud appla 1 P the Chairman stated thai there 

- 1 with the N > 1 ike w hich he 
ought to mi I would remember that on that • 

men complained ol a number 
u'liiiv, ffering I 

rather indefinite, but it suggested harsh and uni 
on the part ol the Company's officials, and a prom 
that tl 1. It was ai 

that the men's sidi ciliation conferi 

and 1 es, a task which occupii 

nearly two months, I I griev- 

the Compam . I i 

them ■ he li>t, but the 

hear that o'nl\ a very small proportion were 

ii an\ ordinal the word, or had any but 

the n 1 « ith the V 1 ike, and that 

- ases where harsh or un 

• implaints w 1 
hem were sim| 
improved conditions ol service b) \ j 

1 by the umpire. Sir Jam. s W 

ih fair- 
■ 
It was unfortunate that the conciliation b 

1 1 with a number ol questions 
that been much lit with in a 

simpler way, a- it had the effect of delayinj 
of the • 

ferenci methods, which, knowing as he kn 

n done there and the time given to il 
Comp; really well-1 plaints. 

fact that thi 1 lull and 

I- ' ompany had 1 the Hull 

1 d that up to the present the communi- 

■ he two companies and the Hul 1 
had been without result, lie believed, however, that 1 

I lull .mil Bai -i-l' 1 vitli their 

own. that a polic 

in fai impetition ol othi 1 

like to Hull and to the companies themseh 
■ ation would 



view the matt, r in the same Ii 

to a question at the last meeting, when ll 

1 with thosi 
asked the proportion ' 

un pared win, 1 lid he 

1875 w ith 1 .1 ing which 

int. aval th. number of m 
whilst 

ments in wages- and lor this p bad eliminati 

was possibl 

very much ll 
lie r.purt and the p 
I 1 11 
Mr. 1 

plained that, whili litable 

anil 8s. ,. He hoped the qui 

might 

Mr. Win. ( ':■ 
H Brunei, Viscount Ridley, and Mr. E. R. i 

rhe meetin 
approval w as given to the promotion ■ 1 

11. Hon and Darlinj h and 

ort, the extensii 
the pow 11 s 1 .t the Brackenhill I I pan} . 

TAFF VALE RAILWAY. 

The 150th half-' 
Company was irrnan 

(Mr. R. 1 .1 iwe V'assall pr< sided. 

1 lairman expi - - 

at the rei et \t the 

had can full; 

nen implicati 
in r w hii h app< ared to thi 

I w ith 
mmunity from d • 
but during the 17 \ ■ 
had been ft 

that du the) carried 

with him that tl ■ 
must n. cessarily h t 
though a- opinion o 

ho had lost their lives and with thi 
mity. 

1 

1 1 hairman then drew 

bey had bei n 

ol j^TSy in v- 
minera 

1 



144 



THE RAILWAY TIMES. 



[February ii, 1911. 



the figures for the last half having been £122,680. I his was 
due partly to the growth of the district and partly to the com- 
pany's system of motors. Turning to the expenditure side of 
thi account, he showed that there was an increase undei the 
heading ol Wavs and Works ol £6,101, accounted for by the 
fact that lasl veai five miles ol new line had been laid instead 
of four in the corresponding half, also by expenditure on points, 
, ,, ;,,,,) ,,, 1 the men in the shops had bi en work- 

ing full tin tead of three-quarters. There was an increase 

(l |~V. v „„i foi locomotive power, chiefly on account of increased 

cost in coal. For wal ol engines a sum of £6,900 had 

: as ide. The increase of £1,166 was mainly accounted 

1 n having been on full time for the major portion 

of the half-vear. Shipping expenses showed an increase, and 

i lseque'no of more dredging having been done harbour 

expenses were up £845. 

Law charges showed an increase of £1,600, in consequent 
of the companv ha via- been engaged in a heavy action with the 
Alexandra Dock and Railway Company, Newport. Parlia- 
mentary expenses were £6,339, :,s against £ 5,683. 1 hey would 
remember thai al the last meeting he had stated that the sum 
of £4,000 was to be set aside in respect "1 costs ol the < ardifl 
and Rhymnev Vesting Bills. A- a matter ol fact, £4,568 h id 
been put to tliis purpose ; and that was the balance ol all 1 hai gi - 
ed foi both Hills. On the account they had paid oul ol 
revenue the large sum of £28,386. It was all now clear. On 
rates and taxes there was a saving "I £2,252. The) would 
n member how for many years they had hem able to do nothing 
except complain against the increase of rate charges, bul in 
[907 it had been resolved to appeal against the assessrm nts, and 

the resull had been that a sum ol ,-_ 51, dd in 1907 was 

reduced to £29,000 in [908, to £28,000 in 1909, and nOv\ to 

dd, a total reduction from [907 of £4,394. The total 

payments on revenui account were £286,657, being £12,152 
than in the corresponding half; and this left a sum of 
£215,999 to l» carried forward to the net revenue account. 
They had a saving of £2,694 on interest paid to bankers because 
ol tn e issue ol £400,000 Preference Stock. Hie appropriation 
,,| balance available for dividend showed thai after paying 4 per 
cent, mi thi Preferenci they could pa\ 4. per cent, (equal to 
I,, per cent, on the old stock) on their Ordinary stock. They 
would note in the general balance-sheel thai the amounl due 
from the Penarth Pontoon Company was now £43,982, and the 
ny had never cased to be glad thai they had enabled the 
Pontoon ( ompany to put thi pontoon in the Penarth Dock, 
for h had brought to the dock many boats which without this 
Facility would have gone somewhere else. The passenger 
receipts pei train mile were 5s. 2d., as against 5s. aisal. The 
train mileage ol goods and minerals increased by 0,525, and the 
receipts per train mile of mineral traffic amounted to 8s. 2.7od., 
tist Ss. i,-i;d. Tin- chairman then formally moved the 
adoption of the report and statement ol accounts. 

Mr. F. YV1111 iv expressed ;ippiv< i.ai. t the managenn nl ol 

thi line, and incidentally proposed an increase in the directors' 
remuneration. 11m report and statement were then adopted, 
dend formally declared. 

A vote ol thanks was accorded the directors, and in acknow- 
ledging this, the Chairman expressed the high appreciation 
they, in common with the shareholders, had for the 
signal sendees "I the general manager and that ol the other 
officers. 

BARRY RAILWAY. 

'I li. half-vi ah 'ting was hi Id in the offii eg ol th m 

1 UaYr\ I > ( * k on February \, Mr. T. R. Thompson 
n 1 ri ol Plymouth n hail man) 
and Mr. ! >a\ id I >a\ ii 1 \ i-i e-i hriii maul. 

Thi 'ii a . hi- th- adoption "1 thi report and 

accounts fan inalvsis ol which appeared in the Railw.u I i\ii s 
of January 2S), -aid that labour difficulties al the collieries had 
had i ii"- 1 ompam '* rei eipts. I he gross 

,, , , ipts for tie half-year had be 1 n / 566,542, a T 1 reasc oi 
£ 59,74 !. Thi 1 1 ' ' ipts Ii 'i the 1 .11 1 1 ] >■ ■ . ■ 1 1 1 1 ■ ■ period 
included £15 - unship receipts, an item which did not 

1, lasl half-year's at 1 ounl 1» 1 ausc ol ihe discon- 
, . : tin -1 r\ i''' Mn 1 ' v.i 1 decrease on the other 

- ol tl ipany for the half-year of £24,402. 'I he 

: 1. 1 1 ipt - iin 1 1 .1 sed by ,i 1.1 36, and tin 111 1 
£1 ,762. As 1 ' sard* ini 1 al trafiii , 

the st 1 1 diminution in tin quantity "I 

ippi d, tin del 1 1 asc bi im; ovci 140,(100 tons ; 

1 -. about 61 , icst- 1 .gt ther 

ti Ii s- . i| about £ -''a This w ,is the nn 



hi irtening because up to the end of September the traffic had 
shown a moderate increase. Unfortunately, tin Cambrian 
strike continued, and the company were still suffering in con- 
quence. There had been a total decrease in expenditure of 
£26,586, but in the similar half of moo had been included 
£13,095 for working the steamships, and the net saving in 
otheir items was, therefore, £13,4(11, and thi- u;ls ''"' result 
ul careful attention to the reduction of expenditure. Rates and 
taxes again showed an increase, this time ol £1,889, which 
was a must unsatisfactory feature. The company were appeal- 
ing .a the present time against the rating assessment, and 
ht ped in ' hi. mi si nn 1 , lii f. 1 In I1.1l.1a1 . carried to the net 
revenui account was £147,127, as compared with £160,283 in 
responding period — a decrease ol £13,156. Vftel setting 
aside £5,000 for reserve fund there remained a balance avail- 
able for dividend ol £102,946, as compared with £108,985, or 
£6,039 '' "" than last year. 1 his had involved a reduction in 
dividend ol one-hall per cent.— from 65 per cent, per annum 
to 6 pei 1 int. per annum. 

With regard 1 to the future, while thi oessatit n ol work in 
the colliery districts continued even effort possible would be 
put forward to obtain all the traffii which might reasonably he 
expected, and with careful watching 1 g expenses 

the directors ,vere| hopeful thai in thi short time 

the temporan disabilities undei which the oompany were now 
labouring would be removed. The Bill deposited by the com- 
pany made one mure effort to pul an end to tin deadlock in 
the Sirhowy and other Monmouthshire valleys. The directors 

i opinion that the general provisii ns 1 I tin ion; Ai 
sufficiem to prol cl thi legitimate inten -1 ol tin ■ ther 1 ail way 
and dock companies in the traffit ol these valleys without the 
obnoxious provisions which rendered the construction of the 
authorised line impossible. In an effort to placi the matter 
beyond all possible doubt, the directors had invited the Great 
Western Railway Company, the London and North Western 
Railway ( ompany, and the Rhymnei Railway Company to 
become joinl owners on equal terms, and wen now in com- 
iminii ation with tie se . ompanies on thi ;ubji 

Mr. J. II. THOM \S si , 1 rided 1 In- motion. 

Mr. J. Morei complained ol increase ol working expenses, 
In round figures he found that the increase in working cost 
ol the company was, when comparing 1007 with 1910, about 
£15.500. lb- would like to know tin amounts ol salarie 
in 1900 a- 1 mm pmred w ith [910. 

'I In Chairman said that the salaries in 1 mi, unite. 1 to 

£16,528, as against £20,293 in [910. As to expenditure and 
comparison with other companies, iln\ knew that some com- 
panies whose expenditure wa; being reduced wen adopting 
methods that the Barry Compan\ would not resorl to. No 
local company had such an area oi docks as Barn and such a 
length of line combined. Further, in the present labour crisis 
they had lust 111 it only on account ol their railway, bul also the 
shipment ol coal from the docks. Speaking ol the compari- 
son ol [910 with 1007. he asked w In was [907 specialh chosen? 
Circumstances and conditions ol trade might have altog. 
altered. One reason for the hum. 1,1 was that owing 
si. 11 km -s ,,1 trade at the dorks the tips and hydraulic machinery 
had been somewhat idle, and opportunity had been taken to 



i\ 1 rh.ail and n pair w In rm 



fair 



m\ man l< 



1 I 



In thought would suit his argi 
1 Mr. 1 hi 'tups, ni 1 1 hi tin- spur 1 it 

if that year. It was a m 
comparison was not a fair one. 
s.-ilie nt part was that although the 
in coal traffic and pitwood traffic 
penditure on di " k applian 



He- did not think it 

ml ,1 pari ii 111. 11 year which 

•nt, and then 1 xpeet him 

nl to deal w ith the 

pi --ihililv and the 

In his opinion tin- most 

was a decreasi ol £ i6,t n » 

ml then has bi en 

\ et the balam 1 can ied ti • 



in t revenue for the half-year was with 
1 if the pni eding period. 

Tin- 11 solution w .is c'ai rii d, and .1 
6 pei cent, per annum ^n the 1 irdinary 
ri tiring iliiei im s wi re re -ele< ted. 

An extraordinary meeting was then held for tin purpose of 
- : n ■ t] tt Bill to be placed before Parliament this 



it the 



divid. id .a th. 
stock was -li.l.ir 



rate of 

<l. The 



Appn i\ al w .is foi iil.-lh 

.I the Bill. 



n by resolution to tin promotion 



Cleator mid Workington Junction Railway. I eipts for the 

half-vear ended December 31 wen- £33,266, compared with 
£31,304 i"t the corresponding hall of [909, and tin expe-m 
w.is £21,511, against £19,626. A dividend on tin ordinary 
stuck at the rate ol 4 pei cent, per annum is proposed', leaving 
£ <o , to In- carried forw ard. 



February ii, 1911-] 



THE KMI.W W T1MI S. 



145 



LONDON AND SOUTH WESTERN RAILWAY. 
The half-yearly general meeting ol the proprietors was held 
to, .11 the \\ ati rloo Station, S.W .. Mi . 
Hugh VV. Di chairman ol the * ■ siding. 

Knighl ) having read the 
1 on\ ening th< me. ting, 

1 11 mum \n iu 1 ed with appl 

at. r which must be in the minds of 
iu who are accustomi d 

\\,- have lost two distinguished gentlemen; 
two well-known faces whom you ha\ 

here havi p ssed i\\ .i\ ; two well-known directors who long 
and faithfull horn held distinguished 

positions as depur\ i 

pany. H i ter we 

have all lost a sincere friend. (Hear, h ' : personality 

lia< passed away, and 1 may say that not only 1 1 1 i — - railway, bul 

the whole railway world, is pi r bj his loss. (Hear, hear.) 

il help thinking that this was greatly accelerated by his 
untiring strain that the work com 

with ii ' ssion entailed on him when he 

■ 
strain thai thai work involved. I have losl a sincere friend, 
with whom 1 had been in the closest relationship for the last 

whose ' ind knowledge it 1 

to share. (Hi ir, hear.) Col. Campbell, as you know, was a 

put) chairman 
and chairman, and 
the South. Western Railway. To los,- two such d 

in harness up to thi vei \ last, 
is a matter ol thi ill. There is 

another name which I cannot leave oi 

I think you will agree with me, was 
practically tin- founder of this great railway, h was he who 

little detached liro 
and who bn 

rn railway. He was our first genera] in 
and he was foil Sir < scotter, who lias 

in building tl dhvay. 

All th< w ithin a few 

days of each other, but their work remains as a magnificent 
their ability, their devotion and their zeal. (Hear, 
Ii men, men : it is a ti uism and nun 

may go, but a great railway must "a,, on, and I think v. 
tulate ourselves upon the two appointments we ha\ 
able to make to fill those vacancies. In Lord Selborne we have 

reputation is world-wide, so that 1 i. 
say anything about him. It i- a matter ol great 
that an old-standing engagement has prevented him from being 
here with us to-da s. I met a 

distinguished gentleman from South Africa two da 

a lily and sincen 
the appoint] S I how 

popular his appointment would be in Smith Afrii 

iu that our relationship from Southampton 
to South Africa i- Then thi 

ntleman w horn I have known 
For son Martin-1 Lilian. I. 1 1 L ai . 

gentleman whom I ha\ i known, and whom I have hail 
. and I am very glad to see that he 
to join us at this very early stage. I am confident thai both 
of these gentlemen will bring additional strength I 
Receipts wis Expenditure. 
• nun. 1 will turn to th< 
ditur. during 

• 
■~T' N .v-' In spit.- ,,t this we | 

dividend, which shows that n re- 

munerative, and that in spite of th.- unavoi 
of working, on production I have 

had, during the la 

gentlemen, some of whom complain that we should hav. 
no more than we did a ntrar\ , 

complain that the} 

1 

. w hal w e think is best for you 

V : . in a 

transition sr.,t,- at th< ; 

not nearly completed yet. YVc with tin- work, and 

it is our endeavi >ur to i 

not believe in capital lying idle. We wanl in and 

make it remunerati 

got works to compl 

ampton our new w i d, and the i 



I 

- 

build u|> fun. 

maintain, our buildings, 

• 

you will gri You must 

what is i. 
i than in Ii 

up I.. 

I 

ad it is also an i 
the last 

i 

the season ticket holders, the i 

and the total mini' 

The s.i 

has been dealt with ' 

and in 

I ; 

[ 

know that the 1 G ! within 

the last day i ir two, I believe, sanctii i 

i w hich, 

when ci nnpleti d, w 

, and will, if it is possible, n 
' 
Bourm 

i. -I'M. \\ 

' 

- le traffic was 
I he North Di I o have 

been more popular than ever, and I ma) sa\ that this . - 

I will 

isses. < >ur fust 
. 
Our second clt-s in i : .]its are X-t-V 
65,6^5 loss, while! tin- third 

SEI ci\I1-('[ ass Tr 

i 

. - 



146 



THE RAILWAY TIMES. 



[February ii, 1911. 



it. if we find thai they do not use it then we should 

it. Sow, ili' average per passenger work out as 

follows: I'Ih 1st class worked out .11 2s. 71I. in 1910, as 

nt!i.' pri \ ious ye ar ; the 2nd class at 

igainst 2s. j|d. ; and the 3rd class remains prac- 

V, interesting point on the 2nd class traffii 

although the ^nd class fare approaches the ;rd class 

1 ige of the 2nd class, namely , 2s. 4§d. 1 

practically is times greater than thi average 3rd class fare, 

which 1- ■■ id., showing that, as a rule, the great hulk of oui 

- passengers are long distance travellers. Another 

ing feature is tin workmen's trafiii those who goby 

; woi kmi n's fares. Well, we 

ni , i.u'i than 3,896,590 passengers al those rates, being an 

.. 4 over 50, ovei thi previous hall year, so thai 

tin facl thai we are often criticised, I think thai thai 
j s ;l f a i r showing thai we do -ill in oui power to give even 
facilitv I- thosi who require workmen's tickets The season 

r, 1 e ipts are £3,048 more The [St < lass are ;8 m, 

number, and £926 "in amount; 2nd class are 253 less, md 

, ,,- l, .- in amounl . and the ;rd 1 lass are more by 1,907, and 

thi total increase 1" ing 1,691 passi ngers more. Then 

... carriages, etc., thi incn ise has been 

. ; ; over the 1 onvsponding hall year, and thai includes 

about .64. for military horses and vehii les. Tin j ng< 1 

train and motoi 1 ar mile age is more by £S2,2 ;;. am 

coaching traffic receii>ts are more by X-' 1 '4.545. making the 

gs per train mile 4-. rid-. as againsl .,-. .-I in Decem- 

9 an in. rcase of a little over i|d. pi mile. For general 

goixls the receipts are £1 5,505 num. with an increase "I 

tons 1 onveyi d. I li^ is divided into 19,450 tons more 

, lo( al stations, and 35,21 ; tons mon to and from otln r 

companies' stations, bul 12,1 , tons less with French ports, 

owing i" tin tin potato and fi nil < rops .lining the 

ycai . I hi re is one matti r I should like to refer to in regard to 

1 ti affii . and thai 1- our fish traffic from Padstow . 

I- has been .1 ver\ flourishing markel started al Padstow, 

, have very great hopes that the enlargement of the har- 

bf.ui 1,\ thi Padstow Commissioners will soon be taken in hand. 

There is also a good increase in timber, hay, and hops, and I 

think this is satisfactory from an agricultural poinl ol view. 

and il is one which naturally 1- "I some to our 

Then the shi|>ping traffii to and from Southampton 

has also he en very good. Live !toe k recei])ts ar. £ 525 more . 

ion in numbi 1 1 onvi ced Is tn minerals, as you 

en large ly on oui --- sti m, but 

s,iU the\ show a satisfactory increas. oi £5.278 in amount, 

1 tons < an ii el, thi re having bei n 2 5,558 tons more 

|, )( 1 1 traffic, and 24,608 tons more with other companies' stations. 

, feature in connei tion with il is thai then seems 

t„ |m ., decided improvement in the building trade, because we 

,, ,. n . am ing mon building matei ials 1 1\ er our lini 

dui ing tin lasl six months, and I hope thai mi ens that the 

great depression is now passing away. Hie merchandise 

rev. mi' is, therefore, £i<),ioS more, and tin total quantity 

4 ., 1- t. mi- in' 'i-' ill. 111 in the 1 >' 1 embi 1 . irjoq, hall- 

I . mileage is more by 5,795, and 

a n m il, ave rage earnings • omes out al 7s. 1 ;d., com- 

,. |.,si year, being .111 ine rcase "I 1 'I |>' ' 

This . train mile -12,'' earnings is one ol the 

ton features ..I our working, and 1 think I 1 an 

- that I... 1 i" you b\ stating that in 1 we earned 

,. n l\ ;- n .1 |'i goods train mile, while in 1040 we earned 

4 a vei ■■ satisf; > im reasi In ai . heai and I can 

assure '."" there is no pari "I our working thai receives gn at. 1 

re con-tant attention than this does. Oui rents recciv- 

, : , .,! our arches being 

unlet, and to In avi* 1 repairs on house property. '^ ou must 

also 1. in. nil" 1- that we had In take down .1 great many house 

I., ,""in foi tin enlargc- 
:: lii re. < >n: receipts are I. 

I in r. ci ;.i- from tin pass. 1 fci I ■ show an in 

ol 63,250, bul m 4 Is we have suffered si'rious losse - 

the I 1. in '1 potato traffii and the 

the . rop over tin n I In - ii Id ol soft fruits in 

I? ,. of il,.- smallest ol recent years. 

I |,i- 1 H1-1 t "I this wa • I- put prii es up, with the result thai tin 

I ,, nr, h 11 mi-' -I in I'l.m, .-, whilst there was an 

,s ., in to Paris. We sincerely 

I, ,|„ thai this 1- "ill-. .1 l< mpoi in matter, and thai wtih .1 2. 1 

n. Ih. Southamp- 

i . ni.iinU in dr\ . I... k rati -. 

.... largeh account -I 1-" I"- lln long pi rie>d which it took 

Ih " Mi.m. haha ~i mi will rcme-mbci thai thai 

Ulantie I ranspoi 1 line was for 



>artm< n 

in nl wax an 1 



£i 



1 it, 



several weeks on the Scilly Islands, and the getting of her 
,41 was ;i magnificent engineering feat. She was successfully 
brough .-.I and was repaired in our Trafalgar dock, and that 
gave us a good revenue. Phe gross revenue, inclusive ol docks 
and steampships, comes oui al £.8 ,";,i mon- than at December, 
, 1 r - 1. as before stated. 

Working Expenses. 
11,. working expenses "I the railway are £.42,017 more 
.4, ..in 50 per cent, of the increased receipts. This is. the first 
time tli.it we show .1 saving in our arrangement with the Great 
Western. We have also saved money in oui ocean passenger 
- from Ply mouth. \\ e have also had a satisfactory 
diminution in our expenses from the absence ol any really 
bad fogg\ days, because I neled 1 hardly say thai on a I '-"I foggy 
day not' only "do our expenses largely increase, but oui receipts 
also deer* 1- in 1 very large proportion. Oui general charges 
are more by £"2,354, of which £7i,8oo is in -tail superannuation 
md p. nsio'n allowances. Rates and taxes are nn re by £3,875, 
.hii-lh owing to increased poundages in many parishes through 
which .nr tine runs. | n connection with this matter I have 
something to tell vou which I think you will consider very 
satisfactorv. Vou ill know that the quinquennial valuation 
of the Metropolis took pla - lasl year, md il was soughl to 
increase our assessments by £11,290, but, thanks to the ability 
,4 "in- rating agent, Mr. Mortimer, we not only g 
increase taken "ll altogether, bul w< also obtain I .1 reduction 
..I in. less ih. 1 n £"38,800 upon our old .1--' ssments. I Applause.) 
Our assessments used t,» stand a1 £228,000, but thai amount 
has been reduced by negotiation -we did not g-01 to arbitration 
fi iendly n- 4- tiation to £189,1 00, and this nv. ans 
.1 large saving in rates during the next five years. One of the. 
chiel causes of our reduced expenditure was caused by an 
arrangement with thi Great Western, by whifh we we enabled 

up .' petitive service to Roscoff, on the French 

nl that has enabled u- to make .1 s,,\ ing. "I h. doe ks 
1 is onh £742 for the maintenance - 1 per- 
il.-mt. I he n nts "I leased lines are less by 
£1,057, owing to tin improved working ol the Somerset and 
! )■ r- 1 i.iint lines. Our general interesl account balance is 
intereest on loans from oui bankers in lieu 
mil this has : ui ned out to be .in economical 
arrangement. Dividend's and interesl receivable are more by 
£386, thai is, ,ni Plymouth Company's guaranteed stock. The 
rward fi urn the pre\ ious half-y ear is mi r< b; 
63,153 The amounl reserved foi steamboat depreciation and 
renewal Is £15,000 more. That is because sum.- of our 
steamer-; ai getting old and worn out, and when wi « ant new 
-1 1 -.nn. 1 - we cannot build them ou1 i ! capital, and consequently 
w, have to build them out of the renewal fund. Therefore 
we thought ii only right that we should pul some substantial 
sum aside foi Ibis purpi use. 

New S ii- uiboats. 
1 1 may say in regard to the new steamers, thai we 
after giving careful consideration to tin merits ol the 

versus reciprocating .-114.11' we considered it in 

.I',,,, with Professor |. II Biles, who is over expert 
icse m. iit.-rs gone in for turbines. The first 
steamer has been delivered, and has proved hersell a 
able and satisfactory boat. We have received nothing but con- 
gratulations from passengers who have crossed by her, and 
we hope to havi another boal shortly running — in time for 
the summer traffii -ol the same class. We have also reserved 

£20,000, l» - in amounl 

I >i 1 ombei , im "i. I li" nel 1 1 suit ' >1 .ill these debits and 11 edits 
is an increase ol £20,157 in the amounl available for dh i. lends, 

- 1 "quires £500. This 
admits of a divide ml ai the rate ol s ! per cent, on the ordinary 

r the half-y 1 >i - by £17, (69. The bal 

I,- earn forward will be £35,142 as compared with £"32,852 

.11 December, 1909. The dividends for the whole yeai will, 

therefore, be 6J per cent, on the undivided ordinary stock, 

4 percent, on tin preferred ordinary stock, and 25 per cent. 

nary stock, « the deferred 

01 dinan shai eholdei s havi rece veil sine e 1.1. 10. In f >i ni'-r 

years we had to congratulate ourselves upon the fact that the 

,,1.1 had passed b ■ from 

the poinl "t view "I working. \\ . cannot say that for [910. 

It lias been .1 particularly good year, and it is a curious fact 

spile "i iii.ni\ matters which we thought would upsel 

cur trade, such as the elections, which we an always Mel ruin 

business; in spite "I disputes which have occurred, nol on our 

svstem, bul in various parts ..I the country : in spite of 1 1. 

1 otln r industries whie h have be en 'affei te d, and having 

.1 also to tin- lament* d death ol tin lab King Edw ard 
in spite of all these circumstances the volume ol imports and 
exports shows .1 substantial increase, and the general trade ol 



I 11 



nil 



February ii, 1911. 



TNI RAILWAY TIMES. 



'47 



«ie sin- 
■a 111 continu s which must 

1.1I and labour, which must always 
• I in hand together ii w< 

. il in which we may ho 
ng we will 

\\ • 

■ 
i.l im- 

acquii >rl line 

;. wilh a ( a] 

1 

ms \\ hich, I 

■■ iih regard I '.ill for 

tion with the impi 

junction which exists with the S.E. Railway, and which, a- 
you know, i- served b\ a line running through 

ch a junction w ould 
have b serious disadvantage in the laying 

rhe junction has long since - 

I verj littli 
>m t li. • fact that the S.L. have practicall) 
! « ith the Chatham and 1 1 > 

nienl junction with thai line at Clapham 
I :i, in addition t » > the alread\ existing juncti 

Guildl 

5 

: en dork 

being made 

■ mpleted. As 
\ < >li know, l 

- ir Line, including the " * >1\ mpii 

1 
1 fact, 
e he; 
still la- . . homo 

1 Olympic " 

- 
le will ix ready for sailing in June next, and we 
; anxious th; 
our new dock al Southampton. We are al 
the Ti 

that, I hope, will 

statement in some of thi 
upon th i London Authority for imp 

and d< waterway ol London. Well, it is hardly 

ito thai matter now, bul 
the em rcase \\ hich the length, 

[ 
which 
have been incurred in consequence of the - thai 

have taken place. I have only to say thai whal is pn 

1 been done am 

Southampton. I should very much like ti. say to my shipping 
find it profitable to build such 
■ 
n m< >iis ship- 
own little fleet, I 

as I have it. but still ■ 

• iur new sti 

1 

all. W - 

\\ 1 ~i I nd 
1 k- il Mail Co. i\ ill continue i 
them from N 

< lw< n Philipp 
but th 

result II ■ ■ leaving il 

I Would lil 

|ohn Aird, who was so wrapped up ii S 

1 1 was he w ' 
and 1 
over wit 

Working Arrangements with tin: Great v 

As : tin arrangement which we have made with tl 



we ha 

discuss 

a solution, bul there are still 

still having I 

very fi 
railwa 

fully into tl 

had a most imp-, 1 
engim 

impro\ 

the wl \\V hav. 1 

again, and we are unanit 

electricity. All 01 i 
are Titled with riile you will i 

'deal for us to chai 
ive taken adv; 

undoub 1 

0111. the Coronati 

ursions to this countn ' 

■ ent. and we can hard!) I 

Kin" there will n> 

which will take plac. in the S 

r, should be a record. There wil 
itry al (he ti 

5. I think 

di aling with 
will, 1 trust, ensure work will 

id punctually, and we can onl\ 
1 
reign, and th; 
and our Empire mav be 1 

move the first resolution : " I li 
1 s and statemenl 

W. P0R1 

i. I 

. in whom 

1 
said 1 
abilil 1 

■ the undertaking with 
in tie 

Baxce (M 

with 1 

- 

Mi \V. R. L.wi 



H s 



THE RAILWAY TIMES. 



[February II, 191 1. 



who got .1 large profit out of it. The Canadian Pacific Rail- 
way issued its capita] to the shareholders, and ii was the most 
skilfully worked and mosl successful railway in the world. 
Complaint had been made .1- to the appropriation oi the in- 
creased earnit 00, but he thought the board had 
done well in devoting about £40,000 to the improvement of the 
line, A':"'"'" 1 '" reserve, and giving the shareholders thi 

benefit ol £17,000. With regard to the Water! ind (.'it;, 

Railway, it paid -,. per cent., and he did not know why il 
should bi treated .1- .1 son of Cinderella line, foi it might be 
greatlv improved it taken in hand and developed. 

Ottlf.i Perr^ suggested that there should be communi- 
.11 signal-boxes and stations, as was advocated 
after the gi eal railway, accidenl in 1906. 

I'he Chmrman, in reply, said he was glad thai Mr. Law -on 
was satisfied with the manner in which the directors pro 

ribute the surplus earnings. The board had to look after 
!\ the shareholders' interest, but the interest- oi the 
undertaking, and it would be hi- aim .unl object to continue 
that policy. He was pleased to see the Mayor ol Southampton 
I resi in. Ever since he had been in touch with Southampton — 
.1 period oi eight years he had invariably told his friends at 
Southampton how essential it was that the South Western and 
Southampton should work together. It had always been tl 
wish ol the board to do their I" -1 for the development oi 
town. Wiih regard to the finance department, which had 
referred to by Mr. Law -on, the hoard had appointed a banker, 
Mr. Martin-Holland, Lo superintend that, and he thought ihe 
result would be satisfactory. As to the so-called "over-spent 
account, that had been provided for in the reserve. With 

issue ol lock, ii had sometimes been offered to share- 
hold 1 -, I'm iii. resull wa- so disappointing that the directors 
policy. As to the Waterloo and City Rail- 
way, the board could nol extend that line il the) wished to do 

foi hey wen let Parliamentary agreemen 1 to 1 sti rid 

it. It would, in fact, be difficult to extend it, and seeing how 

1 ' n was intersected with tube railways, the resull would 

be doubtful. They had, however, endeavoured to improve the 
to it, bul to extend it still further would entail greal 
expenditure. The question ol connecting signal-boxi 
stations would receivi careful attention. 
The resolution was tin n put and carried unanimouslv. 
On the motion ol the Chairman, seconded by Sir W. W. 
Portal, the dividends recommended in the report, including 
oni al thi rate ol S : ] per cent, on tin Ordinary stoi k, were 
agreed to. 

The n tiring directors and auditor were re-el < ti d. 
A Wharncliffi meeting was then held, when approval was 
given to - kill now bi P ment. 

A heart\ vote ol thanks to the chairman directors and the 
stall terminal, d the pi oceedings. 

GREAT CENTRAL RAILWAY. 

I lie half-yearly meeting oi the Great Central Railwax was 

In Id yesti rday 1 Friday 1 al London Road Station, Mam h'ester. 

s u \i Hi '1 R ,1 » s the 1 1 1. lit n 1. 1 1 1 . in in, i\ ing the 

adoption ol the report ami accounts, said it was with greater 

!!■ 'a 1 km foi ii). 111, years past thai directors met the 

propi iet< mths sinc< he ventured to .una ipati that 

at the end ol the year they would bi abli to show that they 

were making satisfactory progress. He was glad to -a\ his 

ition had keen fully realised. The passenger trafin 

a. leas, ,,i £,"16,541, merchandise and live-stock 

00, and minerals ,£"31,100. Almost all thi centres they 

showed substantial improvement, due in doubt to the 

di ol tin < on ilia , nol ol am one , , ntr , 

but spi II ovi r ih. whole' .,1 the company 's system. 

■ .iter than in the < orre- 

spondinig p rind though to earn 1 hose 1 o< 1 ipts greater train 

mileagi had ti> be run and items ol expenditure increased. 

[lower n ag< s, and mainti ri inci oi w n 

el , ,111 111 thi report. I'he , lire, 1, ,1 . » , 1 , 

ng a vi ry • onsidi rabli -inn on rem wals, lx>th ol carriagi - 

. nol think ii would be w ise for tin 

my falling oil in tie ise items foi some 

little 1 ill their joinl lim - ga\ 1 them 

ibl being tin 1 an 1 

how n by tin joint receipts of tin ' 

Western and Great I entn 1 1 was due to the opening 

I ilj ol tin Great Western C<impany's through route to 

:.h. mi and the North, tin traffii of which passed over tin 

joinl line. Tin d had tin aighl 11 wise to 

dil il tin ti unship Insurant e 

\ ad- nici ting tin loss ol tin Mcamship " Blai k- 
burn," -Hal in 1 , illisii m in tin North Sea in I )ei 1 mbi 1 last. 



Vi. r making the 1 necessary provisions then was left for dis- 
tribution £7440,570, which provided foi all preference slocks 
down to and including the 1 per cent, of [889, and 2 per cent, for 
the whole year on the 4 per cent. 1891 preference. Certainly the 
outlook with tlnni, as with other railways, was brighter than 
for a long time p. 1st. In that connection he thought he might 
say la- appreciated, and he was sure his colleages did, the 
patienci shown by their shareholders under the somewhat 
adverse cii umstances of thi past. From time to time he had 
received complaints that the forward policy, if he might call it 
so, which the company had adopted, especially in connection 
with capital expenditure, had accounted far the non-payment 
of interest upon the junior pre], , 

He had now 01 1 upieel the 1 hair for a little o\ er ten \ ears 
(applause) and hi though! In was justified in drawing the 
attention ol the proprietors to a few figures, comparing the year 
igoo with 1910. 1 In gross receipts in moo wen £3,238,000, 
ami in the latter period £4,520,000, while the net receipts in 
the first period wen £922,000, and in the latter period 

£1,566, The net receipts from tin in the first 

period were £154,000, and in tin latter period £275, After 

deducting the fixed charges they had availabli for preferential 

inien si in [900 £,406,000, ami last year £7760. 1, mi increasi 

1 J 154,000, or S7 pei cent. The increase had b rned after 

paying the interest upon newly-borrowed money, and ii would 
not have been possible to have earned that interest but for 
thai expenditure. Tin company were nol promoting a 
Bill ol its own this year, bul the wen concerned with 
Hills of other compa'ni 5 He was glad to be able to 
inform thi proprietors thai tin works in connection with their 
greal new dock al Immingham wire approaching compl 
and he w on id be much dis ipp tinted I the formal opening was 
not possible in early autumn of this yi ti I n '- p — ;ible thai 
the steamer, "Blackburn," might ' ■ sed lin tly the 

we all. 1 was suitable foi operations attempts in that direction 
would be mad.. |udging by the reports received from various 
centres served by the company there seemed evi \ probability 
1 leu the 1111 rem \ e.u would bi a satisl a their 

sy sti 111. The high prii e ol raw 1 [ton did 
ail., ad the running ol the Lancashire mills full nine; the 
building trade was reported to 1" n some extent 

Ii ,,iu a- ia 1 , ,11 di pn s- . n ; 1 a heavy ti tdi - ol Shi flit Id and 
disti i. 1 wei e fully employ ed : 

ir,,a and steel trades generally wen sal - fin reports 

from the Leicestershire district wen g m Notting- 

ham fairly so, and il these reports ol tin it igents 

wen realised there was little doubi that in tin 1 
thi 1 i tiling stock would be utilised to its utmosl capacity. 
Mr. W. P. Vici \rs, deputy-cha ition. 

\l 1 In. oi is 1 1 m. 1.1 en, irged ■ ■ ■■■> to make use 

■ ,'.,. nd said thai 
directors had sel their faci s ag 

line-, which 1. r.,11- hi revenue on the Greal Western and othei 
1 ailwavs. 

1 Rev. W. II. Ashton asked I 

: I i. rby « ith are ,1 a,., hall crowds. 'I his, he said, 

.1 revenut the con 

an glei ting. 

I he Chairman, in replv, igrccd .■ n 11 1 with 

othei systems would reduo . \p nditure, bul they had nol 
keen permith d to can \ out theii desires in tha 
With tegard to motot service, he said their experience h;id nol 
been altogi thet - itisfai tory, .dm\ he did not think i!m wen 
likely to exh nd their use ..1 motor carriages 
dda reporl w a- ad .pad, and rs \\ et 1 

i 

BELFAST AND COUNTY DOWN RAILWAY. 

The in. 1 1- for id. hall vi 11 ending I > cember ,1 , 1910 

gross revenue ..I £"87,872 ,0041, and a 

gross expenditure ol £"47,618 (as against .: > . The net 

1 . a . an 1. (including £"3,274 balance from previous account and 
£810 sundries') amounts to £." p.^s. Ol this prior charges w ill 
absorb £8,208, preference dividends £"10,870, dividend on 
ordinary shares al the rate ol 7 per cent, per annum, ^£? 1 4 ,S. h > ; 

unt plai ed to 1 . sci \ e fund, ,■_ \, ; balan< e 

Length of railway, 8n mil. - 1'ln 

capital account shows a total expenditun ol £.'1.5^5,146, 
whilst tin receipl have bei n £'1,460,701, as follow - On 

,860; preference 5 per cent, stock, £"248,141; 

ice 1 1 • \ -lock, £?so,ooo ; pn ferenci 4 pei ci nt. 

slock, £7233,330; ; per irni. baronial guaranteed 
£17.000; debenture stocks, ^358,666; Treasury gnmi (Dowrr- 
patrick, I^illough and Ardglass Railway), £"30,000; premiums, 
704. The bal hows that the reservi fund now 



I'' I BRU VRY II. I9II.] 



THE k\ll.\\ \.Y TIM] S. 



149 



£31,157; -1. .,111!,,,., 1 depre< iation fund, x 
hotel 1 iunt, £7,417; and ways and works renewal 

■ 

1 l " 13' th hall g was held at the Belfast ter- 

on Thursday, Mr. rhomas Andrew i 
H Chairman in moving the adoption ol the report and 
tits said that at the last meeting he had had 
o! announcing that the receipts had been thi 
and it was s 
that _ tl 1 in an increase, and had pod the 

I he tot .-J receipts for the half-year ai 
'" £87 , ■ he half- 

I'hi- was doubly gratifying first, because ol th< 
gain that it I >r< ught to tin 
indication ol I 
b) the railw iv. "J . ., lusivi 

tickets. This was tigers. The\ 

hich included 
son ticket h unsible, 

(9,420 for tin 1,78 1 

from - holders showed an increase ol x - - 

the corresponding half-year. Comparing the whole of th 
1910 « hi y had an increase in si holders 

I he grow th in this 
year by year, and satisl I , ■ no as a whole it 

furnished th in the histi 1 

77, being £5,128 over the previous re, 
'I He workinj . nting 

54. hi per cent, ol ceipt -. Bui he musi pi 

that a year ago th * 1 reserve foi waj and works and 

sum of £3,600, which 
into the worl es ol the half-) ear, so tha 

had been 
£1,891. They spenl £ nd ballasting 

the permanent way, and about £500 less in repairs to buildings. 
In the locomotive power department the coal cost £597 more, 
but on the other hand, in thi ling half-vear the\ 

three new engines. 

■ iving a hal. 1 [6, 1 50. 

ids on 5 and 4 per cent. | stocks would absorb 

-- ,. The directors had the pli tending 

a dividend al 7 1" r cent, per annum on the ordinary 

tire £ i i,8oo, placing /. | 

1 r< serve fund, an 

- r - 

I the previous occasion. 1 

910 I hal the a\ eragi divi 
cent. It was faction to the 

s, as hi was sure it would be to the shareholdei 

II justified in returning this yeai to the old divid 

. which th. touslj for ni 

half-years up 1 Hear, hi Considet tble im- 

provements wen B , nger 

station dation. 

■ ould include a fifth platform for the di parture and 

inal buildings 
for "tt'i, Hie chairman announced with 

Mr. Brittain I he active duties of 

1 \ , and was to sail that daj on 
the lx-: , \ 

with 
him which would enable them to avail themselves 

■ quired in the future. Mr. 
Mellor, who had had a large exp 

illy with the I., and Y. Railway, 1 
tary. 
Reph by shareholders, the 

Chairman stated, with regard to the rate war between 1 li i - 
G.N. R., that after the " poolinj 

from th<- Count) I), >\\ 
,v, various proposals had been made. The 
1 . \ R. then declai ■ al an end. I I 

The n a- was 

1' their 
Mr. T. Richan B ir, J.P., were 

-. and Mr. \\ . B. Peak was 1 • 
auditor. 
The Caledonian Imbalance Classes. Mr. Donald A. Matheson, 
Caledonian R 1 impany, has 

renewed thi R uineas fi ir I 



PORT TALBOT RAILWAY. 



1 

J R. 

' "AIRMAN, ill lie. 

that £ 

■ 
the works 1 
arrangi 

I 

in the 
m, by utilising a lai 

■ 
""" ! I 

must, combined with up 

I hi- ill): 

■ 

g an incrcasi 

! menl of tl 

carry-forward of £1,718. This was an incn 

in the amou 

nd. in consequence, there was no doubl 
nmend a di\ i 

dividends w ill not stop al thi-. 

Mr. S. 1 1. B\ is S ,ted. 

D Mess • ■ : I > \ I 

re-elected directors, and the usual "votes of thank 
lings. 

BEIRA JUNCTION RAILWAY. 

A me, Iders was hold on 

: , 1 . al 2, I.- ndon Wall Build 

scheme 1,, raise fu 

I he ( li IIRM »N -aid that ill, poSiti 

that a new wharf 1 lilt, and, as it was to be built <>n 

their land, it was I I' ar thai 
to build it. S 

woi th a. ithing. 'I 

as he could judge, the pn >| 1 

a. The points against i 
which they now owed was at pi 

under 

there would I 

wharf would und 
thirdh . 

Would 

1.29 p, o 

their lit would !„ 

the dividend on thi 

\- 
ordinary 



i;o 



THE RAILWAY TIMES. 



[February II, 191 1. 



GREAT WESTERN RAILWAY. 

The half yearly accounts to December 31, mm, were issued 
on Thursday. Our usual analysis is appended: — 
Capitai . 
Total cxpi nditure . . . . . . . . . . . i i .. ,,. 129, ;g \ 

ated as follow s) . . . . 108,995,867 

1 irdinary stock . . . . . . £36,1 197,590 

: guaranteed st< n ks 17,49 ;.."i" 

250 

[ ' ■ • • ■ 24,496,525 

Kent charges .- . . . . . 91 1,925 

Strat ford Canal annuities . . 58,510 

I 'r< miums . . . . . . . . 10,758,977 - 

.11 debit "i 1 apital aci ounf . . . . , 

eipts "ii capital unt durum the half-year 

ted to £775,352. rin- expenditure during the half- 
year amounted to £331,738. Oi this, £177,403 was on lines 
for traffic, £123,303 on lues in course of construction, 

>ii Fishguard and Rosslare Railways tnd Harbours, 

on Cork City Railways, £5,94] on teamboats, less 

1 ■, n Kennel and Axon and Stratford-on Won 

Estimated furthei expenditure -In the currenl hall 
year, £450,000; in subsequent half-years, £4,530,466; total, 

|.66. Capital powers and other available asset 
£6,324, 848. 

l\i \ 
The revenue account foi the half-year ended Decembei ■; 1 
the receipts to have I ieen as under : — 

1910. 1 ,. 

I irst-class .. .. £238,561 .. £208,788 

5 [-class . . . . 1 2, 581 . , [1 '7, 1 

Chird class 
Season-1 icki 
I '.m els, hoi ses, can iages, • t. 

Mails 

Men handisi (li ss 1 oil. and di livi r\ 

Live stock 

Minerals 

Dock and harl lues, h harfagi . 

etc. 

Canal traffit 

Ri nts ol property, < ottages, etc, 
1 ransfi r fees ' 

[-Ml n . eipts / 

11 ndit me on re\ enue acco 

v ■ as fi 'Hows : — 

\l.1111i' 11,11 1 way, etc . 

I. ih omi it i\ e power . . 

Can iage and >■ 1 repairs 

I 1,1th. . xpensi s 

chat 
Law chat 
I ',n liamentan 1 xpenses 

I "i 1 -1111.1I in jui y 
Addition to ci >mpi n ■ 

iat urn for [1 hi 

in count . . 
1 ' , to goods 

d taxi - 

. . 

. . 

Canal expensi 

rotal expi ndit up . . [,'4,520,509 ('4,384,305 

The net reven and the ] in 1] n ised ,1 ppropi iation 

l'n dividend ma\ be summarised as 

I '..il.m. 1 fr 'in pn '. ii ' J',.,,., "j , . £74,483 

credit 

1"! ' 



2,647,621 . 


2,474,195 




1 28,955 


(,38,068 . 


626,87 --, 


'1", 162 


87, ,s- 


[,742, 3 


1,682,542 




[01,085 




1,732.541 


21,264 .. 


21,051 


6,540 ■■ 


6, i5S 


92,177 .. 


86,430 


902 


90 


.ii .. 


£7,264,366 


unt for the 


same penoc 


--I",; ■; . 




1,291,466 


j . -■ 7 7 . -, 1 ■ , 


r 'S,54 1 . . 




1,250,770 .. 


1,228,705 


1 18,2 13 


1 H,22b 


1 1,769 ■ ■ 


i", 105 


2,773 •• 


2,8Sg 


20,321 .. 


.., P> | M ,:, 



1 , 


'28 . , 


28,085 


12, 




127,483 


I. 


'25 


17,978 


'.: 




1 1,868 



[1,643 



2,977, 1"- 


2,880, 




12,510 


,."'1 , ,'.' 


■ 2,<)6 ,.. ,| 






1 . ."1 1 


,,,.., 






1 1 1, "1 











I>f ' ," 






ipts l"i tin I'll half-yeai d>o\\ an incn 1 e 

ol £1 16,204, I tin net 

increase ol £0; 14 1 I'hi 1 1 1 1 expi nse ; to 

■ 60.94 per cent., as 

cent. 



Traffic, etc. 
Half-year ending December ji. 1:910. 
Passengers First-i las-, . . . , 946,726 

Sei "iid-cla.ss . . . . 156,874 

Third-class .. ., 55,105,465 



Total . . . . . . 56, 11 19,, 16 , 

Sl '■' ""' I'-]--' ts . . . . . . ' 95,612 

Mileage lams owned . . . . 2,5683 

Partly owned . . . . 243J 

Leased, rented oi woi ked 134I 

Foreign lines woi ked ovi 1 129J 

T"t ,1 i ope: ated . . . . 1,276 

I ram mileage Passenger . . 1 s.i 12,09 I 
I '.i 1 11 'i 1 ' lectric 

trains . . . . 192,78 1 
,, Passenger rail 

ni"t"i -cars . . 1 ,628,789 



1909. 

848,54 

1,088,532 

51,829,128 

53,766,2' ; 
86,897 

2,5I2i 



< ;<ih.k 



,"l 1,9 |i 



[,48 .,.'!' 
9,82l .1 '"'I 



• 



Total ■ ■ ■ • 26,997,582 . . JI'. (I J,295 

'he report states:—"* ! progress continues to bi madi 

with the construction "I the Swansea district Lines. In con- 
nection with this work and with thi object oi facilitating the 
expeditious working ol the traffic, ii is proposed to take in hand 
the construction ,1! the short loop line at Neath, authorised bv 
thi Company's \<tnt iqoo, between the Rhondda and Swansea 
Ba) Inn and the Swansea district lines. The doubling ol the 
Newport tunnel and the widening oi the line between Torqua) 
and Paignton have been completed. The new coal tips and 
hydraulic appliances at King's Dock, Swansea, an now in 
on L'he widening works in the neighbourhood "I 
Birmingham, the improvement and enlargement "I Snow Hill 
Station and the provision of a goods depot at Moor Street are 
making rapid progress. The work for providing additional 
accommodation at Paddington Station and for improving the 
lines leading into the station are also proceeding satisfa 
\ contract has been let for the ■ i-.-i tion ol .1 warehousi and 
other works at the goods depot al South Lambeth. Steps are 
being taken for the acquisition of the lands required 
authorised Wolverhamption and Bridgnorth line, including the 
branch therefrom to Kingswinford. In conformity with the 
standing orders "I Parliament, and in pursuance ol notice 
which has been given to that effect, the following Bills will be 
submitted foi the consideration "I the proprietors al a ■ 
gi in 1 ,d meeting, to be held after the ordinal \ meeting, 
\ Bill fin' e'mpoi\ 1 in.' ii"- <n ..a t\ ---ii 11 ttailw , 1 .,. ■ 

new railways 111 the Comities oi Glamorgan and 1 for othiT 

Powers arc sought b\ this Bill to enable the compam to 
construe) a railway from Gwaun-Cae-G urw en to a jinn 1 •■ near 
Murriston with the Swansea district lines now under construc- 
tion. The proposed railwax will form an improved m« 

lunication between the Garnanl and Gwaun-l ae-Gurwen 
Branch Railways and Swan-. .1 and Neath, and will serv, the 
distr'x t lying to the north ol the Swansea district lines in 
;, large anthrai iti ■ oallield is I" ing developed. Tin additional 

capital sought l>\ the Bill is £"500, with the usual borrowing 

pi ,w is. 

1 1.' 1111 iiiii'.' tin • , .1 

1113 it itli Hi.- uni! ling "i t!"' Ureal 11 

" ! "Il|"'-' s " 

This Bill provides for vesting in this compnnv the under- 
taking of the Manchestet .ind M1ll1.nl compam hitherto leased 
to this company, the terms being the adoption b\ this company 
i. in charges ol the Manchester and Milford compam 
amounting to £),77S pe.i annum: the issue ol _6-<" (ireal 
Western 2J percent, debenture slock for each £100 ol Man- 
, hestei and Milford 5 per cent, prioi in debentures ainu 
to ''1 ,4m> .Hid /,'.,_• Great W'estei ,12 

. h £, • ol 1I1. Man. hester and Millard 4! pi 1 cent. 

aid : 1 111. debi inn . - aiiKiunting to £.'161;, 740. 

' empowei t ho Central ] on Railwa; C [,any to 

, Railway Com 
nithorise 
\\\ this Bill powei is sought 1>\ the Central London R 
Compam to construct a -Ii. >rl exti ns.ii .11 .'I thi ir lini 

it'ion al Wood I .an. to 1 onnei 1 w ith this comp 

[ and Shepherd's Bush Railway, which will 

sei vice o| trains to In- established between 
11 1 1 ,. 1 1 1 \ 's station al F-aling ana the Centi al Lond 1 Rail- 
ses t, 1 anili. irise the two onpanii - to 

111 llYil a.'i' ''ill. 'Ills. 
ill. I. mi! -: I ' ' ny to 

l< ' ni'l 1 Hi" I 

|; this Bill ii is proposed to empow< r the London I 
1 'ompam to extend their Baki r Street and ' 
Railwni from Kdgware Road to Paddington Station . 



>mpan\ - • 

l'he Bill 

into work 

\ Hill I 



I'l BRTJ \K-i M. I'll I. | 



Till R \II.WAV TIMES. 



[51 



authorise that company and th< Great VV< ' >any to 

, ntei int., agreements with refi 

• 

! i 

in the delibei i< com- 

pany . Mi . Joseph o had oc< up 

the position ol superintendent of the line, rei 
i< .■ u ith the company exti ndinj 

I 1 ;.| the 

- wish to place on record theii iation of (lie 

es which he has rendered. Mi 1 irles Mdington, assisl 
ant superintendent of thi 
Mi. M 

RHYMNEY RAILWAY. 
•ho balf-yeai 

I : — 

. \! 

Total expenditure 

Tot.il receipts (allocated as follows) 
. . 
tock 
Debenture stock 
Premiums, etc. 



£801, 1 16 

463,700 
3,180 



. . £2,5 

2,201 .1 10 



Balance to (Kbit of capital account .. .. £240,306 

The capita] expenditure during the last half-year was 
1 1 was on lines open for trafl 
r8 on working stock. I' rther expend.i1 

In the current half-year, £33,000, in subsequent half-years, not 
ttal [lowers and other ... 

Kl VENUE. 

This account for the half-yeai u showsthe 

ts and disbursements to ha 

1909. 
. . 
aandise and live stock ... 
Minerals.. .. .. .. .. 127,688 .. 122,673 

Mileage and demurrage .. .. [54 — 

Miscellaneous receipts .. .. 'S24 



Total receipts 
Total expenditure 



Net receipts 

Balance from last h 



1 1 S.S02 



7. "57 





17,578 



Total net revenue 


.. £79,246 . 




. . 


14,102 




ividends 


1. 




Ordinary dividends 


* }S,000 


• 


Balance to next half-year 


7,282 . 


17,374 



Total £79,246 .. 

nt. per annum. 

The u'ross : the past half-year show an incn 

£6,877 ,, and the 

ceipts an increase ol £694. The ratio of expense 
was 61.80 i«r i nit. (,iii comparison with 60.73 P el cent.). 
Traffic, etc. 

Half-vear 1 
Pass. 
Milea 

Partly 1 iwned . . . . 2o| 

„ Leased or rent 1 . 

Foreign lilies worked over 16$ .. 



„ '■ 

Train 1 . . 

Sti am mot 
Goods 



H 



1 1,735 






.... 1,269,6 6 1 

The • V Bill has 

company for the widen eviation oi railwa; 

other work- foi other 

purpo ill will he s 

hareholders 
: the half-y -rry Railwa 

panv 
and the Cardiff Railwa; 

■ 
Raihv . which 



Hills affi mp iny's inti 

deposited in Parliament affecting the int( 

u ill In- t.o 

company's i 

NORTH STAFFORDSHIRE RAILWAY. 

Our usual anal-. 
1 • d 

. . 
aums 



. . 

■ xpenditun on capital ai 1 ounl dui 
amounted to £9,134, oi « hi< ' 

ubsequenl half-years, un 
ler availabli 

Subjoined is an abstrai 
half-- ,1 : — 

1 . minerals, and li\ 
Misc Hani ■ ius . . 

1 anal 

Total 
Railway expenditure . . 
to 

Total expenses 

• ■ from last Half-year 

account 

Sundi y cn 

Total 

Prior 

dividends 
Dividend on ordinal 

1 £222,491 

I At the rate ol 

and the net 

nt. 

Half-vear ending 1 1910. 

total mimbci 

1 : — 
Railwa 

M1I1 1 .... 

..I .... 

,, 1 .... 



1910. 


6,447 




- 


1,547 • 


t.973 


£222,491 . 

■ 











1,40' 






Train 



. . 









; 
Hotci 



K2 



THE RAILWAY TIMES. 



[February ii, 191 i. 



GREAT SOUTHERN AND WESTERN RAILWAY. 



I :„ hall yearly . 
on Tuesday. ( >ur 



smber 



were issued 



l Pl 



11 nded 



£5, 125,520 
4,172,949 

27,480 

3.974, 8 34 

547,248 

[ 21 11 11 1 1 



1 1 [68,022 



■mils 1.1 I >e< 

al analysis is , 

1 PITA! 

pendit ure 
Total receipts (allocated .is follows) 
< Irdinary stock 
I 'refei em e stuck 
1 .im in 1 1 I xtensii in sti icli 
I ii benl ure stock 
Premiums 

I iaronial guaranteed shares 
Balance to debil oi i apital ai i ount 

The expenditure on capital a ml during the half-year 

amounted to £5,924, of which £3,548 was on lines open for 
traffic, and £2,376 on working stock. Estimated further 
expendit ure In the c urn 111 half-year £13,950 ; in subsequent 
half-vears, £2,076; total, £16,026. Capital powers and other 
available assi ts, £74 5,70 3 

Rev) 1 
rhe revenue account foi the half-year ended December 31 
shows the receipts to have been .is under: — 



Train mileaee 



/ 2I( 



>H 





[910 


1909. 


I m ;sengei - -In st-class 


. . £28,485 


.. ("28,270 


S si 1 lass 


29,527 


28,782 


Third-class 


253,733 


2 (0,61 i 


Sea: i m t ic kets . , 


5, 2 97 


4,649 


Par hoi ies, etc. 


70,122 


6S,oo7 


Mails 


28,727 


2S, 75 o 


1 ds 


257,680 


253,225 


Minerals.. 


54.672 


1 ,-• ■ 


Live stock 


77,919 


■ 


Mileage and demurrage . . 


. . 


211 


Rents 


6.711 


7,125 


fees 


1 ■ 


200 


Ti ii.il rei eipts 


. . £Si i.iii 1 


■■ £787,144 


Thr expendil ure on revenue 


ai count was .is 


under : — 


.■mi oi way, etc. 


£102,017 


. . £i< 16,226 


Li 11 ' Mm i1 ive pi ,wei 


132,591 


[33,912 


ivagon repairs 


35,784 


54,901 


tpenses 


107,799 


105,096 


General charges 


Jii.US 


21,184 


Law charms 


2,796 


2,423 


I mi I i.i in, iii .11 v expenses 


— ■ 


165 


Compensation Passengi 


173 


! "7 


Workmen 


1,904 


1,614 


1 , noils 


2.328 


2,404 


Rates and taxes 


26,532 


26,969 


Queenstown tenders . . 


1,0 


1,123 



Total expenditure .. .. £433.275 £436,184 

revenue 1 um for the halt- year and the proposed 

ion oi the balance available for dividend may be 
ri ■ 1! as follows : — 
Balance from previous account .. £33,419 •- £30,984 
Net earnings . . . . . . . . 381 1,336 . . [50,960 

Inti resl . . . . . . . . 2.153 . . [,950 

6,004 6,945 



Prior charges . . 

fund 

1 im i- fund 

< dividi mis .. 
. 1 hi ordinal ■ 
Dividend on Gcashili Exten. sto 
1 i. 1 1.111. e to 11, \t ball 

1 . . . . . . . . £421,912 . . £391 1,8 ;9 

1,.. '■ A 1 1 ' per aim ■ c Ai 

; olGuashilll 

I In- pts im 1 In p. 1.. 1 hall • .11 shov\ an im rease ol 

£26,467, the cxpensi decre; e of £2,909, and the net receipts 

an incrcasi oi j 19,376. flic rat 1 1 ■. 1 to receipts is 

13.25 per cent., as ; ■ • per cenl 

Traffic, i re. 
Hall yi .ir ending I lecembei , 1 . [910. 

. ' . . . . 95,021 

V ''l * Mid ' Li . . . . . 192,684 

Tim .1 1 l.i , . . . . 1,178 1 : 



£421 912 . 


. 1 190,8 J9 


£107,987 . 


. 1 . . 1 , 


;o, 


— 


— 


2,000 


(59 


83,459 




1 


< -Ti 


■ - 7 s 




|. 1 -. 



1909. 

1 



Total 

. . 

I -., led im 1, ntcd . . 
Foreign lini 

Total 



[ , 8 1 o 
962) 



, 143 ; 1 
I 14] 
962 i 



I '.i 11 
1 ., n ,, 



Total 



1910. 
2,004,437 



1,128 591 



1909. 
1,998,434 
1,116,068 

3,114,502 



The report states : — " The claims for compensation arising 
out of the accident near Roscrea on July m last, so far as 
they have been settled or ascertained to the date of closing 
the accounts, amount to £37,269, which sum has been charged 
to the reserve fund. An influential deputation from Ireland 
visited the United States in September last, and laid the 
1 [aims hi 1 (ueenstown as a port oi 1 .ill before the Postmaster- 
General .md other high officials ol the United States Govern- 
ment. The various alterations and improvements at Limerick 
and Cork Stations are progressing satisfactorily." 



The half-yearly 
issued a week ago. 

I - ital expenditure 
Total receipts (alio 

< irdinan stoi 1. 
rice simk 

Debenture stoi I. 

Sundries 



NORTH LONDON RAILWAY. 

iccounts to December 3r, ioro, were 
Our usual analysis is appended : — 
Capital. 

£4.107,152 

follows) . . . . 4,023,238 

£2,034,400 

950,000 

987,466 

5 1.3 7-' 



Balance to debit oi capital account .. .. i' s ..-"i 

No estimate is given of further expenditure. The capital 
powers ,md othei available assets are £279,986. 

K 1 \ 1 \ 1 1 . 

The revenue account for the half-year ended December 31 
shows the following results; — 



Passengers, pan els, etc. 
Goods, live stock, and mine 



Total receipts 
Total expenditure 

>,< 1 hi eipts 

I '..1 1 in, 1 ■ from previous ai 1 1 nun 

General interest 



1910. 

£105,848 

110,966 

16,751 


1909. 
. fio8,oi8 
106,216 
16,846 


1 12,064 


1 
1 19,297 


£101,501 

6,381 . 
1,493 . 


• £91,783 

5,37o 

664 


... 
1,99 

6,142 . 


21,375 
' (0,688 

1,0 i s 



Total 

Prior charges 
Reserve fund . . 

'■ dividends 
Dividends on ordina: 5 stoi I. 
Balanci 1 -\t. hall yeai 

Total . • [09,375 . 

At the rati of ; I . 1 1 annum. + .\i tin rate oi 1 pel 1 1 nl pi 1 annum. 

I hi receipts foi the past half-year show an increasi oi 
the expenses .1 dei rease oi £7,233, and the net receipts 
an increase oi £9,718 lie ratio oi expenses to receipts was 
56.54 per cent., as againsl 60.28 pel cent. 
Traffic, i 1 
Half-yeai ending December ;i. 1910. 
-is 1 .i.i number carried 17,4 12,9 .- 

Alllcil'i Lull's ,,\\ a d . . . . 1 3 J 

1 1 1 1 1 1 1 1 1 1 1 , , I - . 1 ' . . . 1 , 

Foreign line worked ov< r 



[909. 
7,697.244 

1 ;! 



Total 
Tram mileagi - I 'assi nger 





946,766 

1 1 .' " 1 



[,118,370 



M 
9, 1 



New York, Pennsylvania and Ohio lirst Mort^a^e Trust. \ u 
ordinary meeting was held al Winchester House, London, K.C.. 
on l.'ii ;■'. fhe Re\ J. [>ockiiigton Rates presiding. II, said 
thai iln\ continued to follow the policj "I getting rid ol those 
securiti, ,'ielded less than 4'. per rent, interest and 

.. 1.. I 1I1, a \ in something which -would give them about 

5 per cent., which should mean a gradual increase ol dividend 
from ; \ pei cenl which the\ were now receiving. 1 1 1 ■ -\ were 
most careful in respect to their investments, the whole ol which 

w 1 .1 s, um! and satisfai tor) character and gave no ground 

l,„ an\ anx'M 1\ I he profit on investments was reinvested and 
became further capital. The securities wen- taken at cost. 
The report was adopti d. 



I'l BRUARY II, 191 1.] 



Till RMI.W VY II Ml S. 



153 



GREAT NORTHERN IRELAND RAILWAY. 

issued 
on Tuesday. < lur usual analysis is appcndi 

nditure . . . . . . . . .. jf9.180.446 

.... 

I '■ benl un tock 
Sundries 
Balance t « • debit 

■ he past ha ml*. 

i 

• unit for the half-year ended I • 
head to have been . 

[4,144 

19,262 
188,931 . . 1 - 
8,305 

19,27 t ■ ■ ' 
Men 
Live stock . . . . . . . . 34.059 

Minerals . . . . . . . . 43.580 

Sun 4.657 • • 



1 i" t 1 ' 

The expenditure on n • 

I, 
Maintenance of way. etc. .. .. £74.349 •• 

I" ; 768 
■ .1 wagon repairs . . 19.5 1 1 ■ • 

Trail ...... 79,662 . . : 

Geni 

Law charges .. 1 

Parliamentai . . . . 19 

■1 ; 1 

1 injury . . 3,0 [g < 

Injury to workmen 

I tama . . L555 

Rates and taxes . . .". .. t9.M9 - • ' ' r 1 - 

Rents, etc 51 • . '- 

for working lines .. .. Dr.1,156 ■■ D 



nditure 

■ ■ 
balance available for dividend may besumm lows : 

Balance from pre' i I5.57 2 

253,128 . . J | 

Sundry credits 4.'"'- • • 



; 

Prior charges . . 

renewal fund 
. 

il hind 
• a fund 
l'n-irii'iH e dividends . . 
Dividend on ordinar 
Balan. i ount 



- 



■ 



I 

' Al th. 

Tin 'how an in< n 

nses .111 increase of /12 ; he net 



;ains1 55.94 

Half-year endin 

. . 

.... 
Third-class 



Mih .... 

Tram 1111!' ; . . 

dotal 







I. \\1. (1 i . 


• 




1 1 1,78s 



in No- 
tion, I, 
If will 

with nun h n 

has rem 

filled by tlr 
wry." 

MIDLAND RAILWAY. 

1 





. . 

nee to debit oi 

■ id during thi 
xpenditure . 

quent 

Kevenue. 

Lous the n 1 
ended D follov 

; 

I hird i lass . . . . 1,483,444 . . 1.411 

145.072 . 
Parcels horses ,841 .. 

I 

■ 



Minerals > 





1 •„,,.. ' y Light Railv -' •• 




Total ■ 












repaii 

Compen 

Worl 

. 

duty ■ ■ 









Total expi 
of the b; 



























154 



THE RAILWAY TIMES. 



[February ii. igu. 



I'i ior i barges . . . . . . i s y>. 390 

Bankers' and general interest .. 6,477 

1 '. ice dividends . . . . 926, no 

Dividi nd 1 >n prefd conv, ord. stock *487,96 ; 

1 ird. stock 1,401 

Balanci I \i half-year. . . . 101,568 



1 1,927 

925,882 

*487, 13" 

- 

100,20 ; 



I . .1 .1 1 



. . £2,954,109 . . i 2. 7113,147 
' cent- per annum ; I at 3* per cent, per annum. 

receipts foi the pas! hall vear show ,111 im rease 1 d 

£257,276, the expenses an increase ol £90,480, and thi m 1 

receipts an increase "l £166,796 rhe ratio oi expen e; to 

receipl . is 59.04 per rent. 111 comparison with 60.O] per cent. 

Tr \ffi< . ETC. 

I [alf-year ended Decern! [910 too.,. 

ers First-class .. .. 453,843 .. (57,855 

Third-class .. .. 24, 346,388 .. 23,559,01s 



lot., I . 

1 I ickets 
Mileage Lines 1 iwned 

Do. Northern 

( 1 01 1 m 1 1 tee 
Partly owned 
Lines worked 
I - ireign lines n 

I otal operated 



2 1 .S' h 1,2 ;l 



24,011 


,87 ; 


[901 




1 


I 1 - 



II.' 



2, ;: s 



I 1.1111 mileage* 



48,81. 



Passenger 

Passenger rail 

lliol, ,]-i ,11s . . 95,80: 

G Is . . . . 13, V " >. 7 1 - 



Total 



[26 [II 

1 ! 08 1,56 



,ss , 



. . 25,051 [6 
Including miles runSfor other companies. 

The Thll promoted by the company authorises the abandon- 
■ 1 1 1 oi the company's authorised railway from Thornhill 
Junction to Bradford, and the construction oi .1 new and 1. -, 
costl; railway from a junction a1 Low Mooi with the Lan- 
cashire and Yorkshire Railwav to Bradford. A satisfactory 
i" 1 1 has been arrived a1 with the Corporation oi Brad- 
ford who will support the Bill. Hie Bill also authorises a 
railway about four-and-a-half miles long, giving convenient 

ii the company's Swansea Vale Railway at I.Ian- 

samlet to the new King's Dock at Swansea. The other works 
authorised are oi minor importance, and the Bill does no1 
contain any new capital powei A larger tonnage oi goods 
and mineral traffic lias been carried than in any previous 
half-year. [Tie improved position oi the company has enabled 
the due. tors to make a. special allocation out of revenue of 
£40,000 for renewal of bridges, and has also enabled them to 
I >i it into force a higher si ale of pay for the clerical stall The 
' lose ol the veai ion. was saddened by the ac. idenf at Aisgill, 
resulting in the loss oi eleven lives. The dire, tors desire to 

record then deep sorrow at the occurrence, and then - re 

th; v. ith t hose affe. ted I 'ro\ isi in has been made n 
the accounts for the cosi oi the accidenl Mr. John Corrie 
Carter, who had been .. member ol the hoard for fountecn 
years, and represented the company on the managing com- 
of the Railwav Clearing House, found it necessary, 
to the regret of his colleagues, to resign Ins directorship in 
August, 1 no The board have appointed Mr, John Waller 
Hills Ml' as a dire. tor 4 in his pla. e 



Cavan iiml I.eitrini Railway. I In result ol th. hall year's 

working shows a net profit ol ci,;;, 1 . as compared with ,6*75 

corresponding period ol 1909. The gross receipts for 

the ha! 1 unt. d to £"7,018, .nui mark .1 record, being 

the highest fm an; half- 1 u in th< histor; ol the company, 

. those ill the ( orrcsponding hall \< .n ol In 

£ ,.sr. |h, in, lease is in ever; class ol traffic. The working 
expenses show an increase ol £,107 for the half-ycai 

East and West Yorkshire I in. m Railways. I h. half-yearl; 
report states thai gross rcvenu receipts amounted to £."10,405, 

as compan d with £.10, 69; foi tin - .rr. -| ling period ol 1909, 

and the w. rking expense, wen £5,445 ' '»mpar. d n ith ,< 
\M, 1 pnvm. in ol the lixed . hai g. then r. mains the sain o! 
£2,647, compared with £'5.227. Hi. total weighl of goods 
in, mis passing ov. 1 the railwa; was l..o, 1 12 0,11s, as 
, ompan d « ith 1 :6,62(). The dire, tors ncommend a dm. lend 
.,, the rati ol t per cent, per annum he paid on th. prefcren. 1 
stll , k | and 1 per cent. p. r annum . 11 tin ordinar; stock, ( ai n 
ril 1 



BRECON AND MERTHYR TYDVIL JUNCTION RAILWAY. 

The accounts foi the half-year ended December 31, 1010. 
-how a gross revenue ol £'63,363 (as againsl £"62,682), and a 
total expenditure ol £"38,645 (against £"39,248). The net 
revenue, including ,£1,134 brought forward, amounted to 
£"25,852, which, after allowing for all fixed charges, sufficed to 
pa; dividends at the rate ol \ per cent, per annum on the first 

l" nee stock, and al the ran ol 1 percent, for the whole 

year on the second prefeienc. slock, carrying lor ward a balanoe 
of £r 1,385. I In capital account shows total expenditure 
£2,177,744, and receipts £"2,228,945 viz., shares and stock, 
.6'. "'7.714 : debenture stock, £'1,037,1131; rent-charges, 
£ '4-"75 '• sundries £9,525. During the half-year, 538,493 
passengers, -s i , 3 1 cj 1 ms of merchandise, and 1,59s. 77.1 tons of 

mill. I .lis W e| e on tied. 

PORT TALBOT RAILWAY AND DOCKS. 

I he accounts for the half-year ending December 31, mm, 
show .1 gross revenue of £"67,662 (against £.58,237); and an 
expenditure of £.27,361 (against £25,066), leaving a profit of 
XI" .' (against £,33,171). Vdding balance from previous 

■" :' t, £.1,239, the total nel revenue ,vas £.'41, 54,,, of which 

prior charges absorbed £"15,221, dividend on preference shares 
at the rate ol 4 per cent, per annum £,'12,00,,, and dividend on 

ordinar; shares al th. rate ol 4 per cent, per annum £'i-\. , 

and leaving a balance of £'1,710 to be carried forward. 



Bristol and South Wales Railwav Wagon The annual report 

stales thai the revenue account show- n disposal balance of 
£716,651. Out of this an interim dividend oi 5 per cent., 
amounting with income-tax to £"7,500, has been paid, and the 
directors recommend that a further dividend ol 5 per cent., 
mtiking 10 per cent, for the year, less income-tax, be declared, 
leaving .. balance oi £1,651 to be carried forward. The con- 
tingenl fund stands at £50,' 100. 

\ Caledonian Director's Advice. -Al the tilth annual smoking 
concert of the Caledonian Railway Company's head office staff, 
held a Glasgow recently; in the absence ol Mr Matheson, 
general manager, Mr. Henry Erskine Gordon, one of the 
directors, occupied the chair, and amongst the officers 
pr. seni were Mr. Pettigrew, general superintendent, Mr. 

W.eM.H, geiiei.il g I manager, Mr. Stevenson, telegraph 

superintendent, Messrs. Anderson, Bishop and McLellan, 
district engineers, Air. Learmonth, canal manager, Mr. 
C.unei en. assistant goods manager, Mr. Killin, district 
superintendent, and others. In a ver; interesting and instruc- 
tive speech Mr. Gordon referred to the greal progress which 
had been made in the railwav world, and he urged upon all the 
voting members ol the staff— no matter in what position they 
were- (o make the most ol their time and opportunities and 
to endeavour always to do their bcsl for the company. In a 
word, Mr. Gordon indicated thai there w is always room at 
the top. 

tireat Northern and City Railway.- [he hall yearlj meeting was 
held on Wednesday in the Westminster Palace Hotel, London, 
the Earl of Lauderdale presiding. The Chairman, in moving 
the adoption of the report, said that the results were more 
satisfactorv than for the corresponding period of 1909. The 
traffic receipts had increased, while tie working expenses were 
lower. The total number of passengers was 5,856,829, as 
against 5,652,556, and the number of season-ticket holders was 
4,000, as compared with 5,219, the decreas. being tlut- to the 
introduction of strip tickets in lieu of the monthly seasons. 
The total traffic receipts were £"1,065 '" excess of 1909, while 
the saving in working costs amounted to £^648. The net 
difference in their favour through increased revenue and 
decreased expenditure amounted to £"1,804, leaving a deficiency 
of £73,003, as against £5,709. This deficiency, however, had 
been met from outside sources, and lefl the accounts evenly 
balanced. The train and cat miles were slightl; in , s. ess of 
moo, owing to an additional train being run during the busy 
morning service and to the evening service being extended 
fourteen minutes later. I he increased traffic revenue and 
decn is, d working costs, though not large, indicated a distinct 
tendency towards improvement in their position as compared 
with thai which the; occupied some three years ago, when the 
municipal ham competition began so seriously to hamper their 
;s and throw them back. The directors saw no reason 
to doubt that the continuous growth of London traffic was 
making itself fell upon the fortunes of the company. In spite 
of the extraordinary competition to which they were subjected 
from the County Council trams, he thought the public were 
recognising thai their service was a cheap and reliable one and 
much more expeditious than the trams. The motion was 
carried unanimously. 



Febrc \KV II. lull. 1 



THE k.MI.W \Y TIM] S. 



i 



DIVIDEND ANNOUNCEMENTS. 



[Tlii-.l.i, g 



' 



Cleator im' Workington Junction Railway . — Ai th 
(it 4 per cent, per annum, the sann igo, carrying 

forward £263. 

I 1 of W'icin Railway (Februan 8). At the rati ol 1 pei 
cent, per annum on th-- preferred converted ordinarj stock, and 
;>t the same rate on the deferred com 

go the dividi nd on the latti r stock was al the same rate. 
R \ii w u ( Fel 
cent, per annum, with a balance of £114,700. \ ■■ igo the 
dividend was al thi rate ol 7 per cent, ner annum, with ^ 

I\ VII W \N Ml VR1 I'ki SI VND ANY.- Al thi 

pei annum on the " \ " shares for the half-yeai 
. making 5 per cent, for the j 
K\n\>\\ Derentcri vnd Generai Tri;si Company. Ai the 
I 8 per cent, per annum i ding January 

15, making 6 per cent, per annum for the year. 

ii Western Railway (Februan 8). At the 
rate ol 7 : per cent, per annum, plai 

and carrying forward about £118, \ 

dividend was at thi 10 was 

placed to general reserve, and .£118,517 was ward. 

Furness Rmi.way (February 9).— \t the 1 
per annum. 1 rward £3,170, compared with 

cent, per annum, with £2,098 carried forward, for thi 
sponding period last year. 

Marypori vnd Carlisli Railway (Februan 6). M th 

. per annum, carrying forward aboul £1,900. V 
year ago the dividi nd was al thi 1 cent, per annum. 

and £1,800 was carried forward. 
Western Wagon vnd Property Company.- Al the rate ol 
1 num, less inci imi tax, plai in 
fund, and carrying forward £735. 



L. 8 S. W. R. INSTITUTE AND CLUB. 

Sir 1 sided on Thursday nighl al the third 

the I. and 
v\\ .R. Institute and Club, Vauxhall, and among 
were: Mr. Hugh Drummond (chairman of the comparn . M 
D i Drummond (chief mechanical engineer), Mr. Hi 

Holmes (thi superintendent ol the line), Mr. W. Bishop 
>r), Mr. A. Malbj (goods manager), Mr. F. Hartnell 
Mr. Kent, Mr. W. Buckmast 
Mr. \V. II. Cook (secretary), and vario 

During an interval in the concert, 
the award-. With regard to special ambulance cases. Sir 
Charli - es \\ hich Mr. 

who was injured! at Trcsmeer. Dr. Arthut B ■ I thai 

had the unfortunate man not received the skilled treatmenl 
he did from Mr. G spot, he was of opinion 1 

would not have been saved. The vicar wrote in a similai 
strain. Sir Charles wont on to refer to Mr. A. Hearne, who 
gave first-aid al Y'ovil Junction to a man named How, whose 
leg was amputated. Dr. Jupp, of Chard, ng that 

Hearne stopped the haemorrhage and nul on splints, and but 
for this attention, Bow might have died. Similai commenda- 
tion was contained in a letter from Dr. Taylor, who m< 
that the inquest jurv expressed their high appreciation ol the 
rned. Turning to the case of Mr. I. 
igh, that gentleman, N.ii.1 Sii 1 

- of injurv during the pasl twelve months, I hi 
Mr. Ben Hackett, Southampton Docks, was strongh 
aluablc first-aid sen ii es and 
taken in the ambulance movement . 
S • 1 'harles then presented 1 

1 i/e-. 

Mr I\ 1 the 01111111 mbers of the 

Institute and club, proposed the health nan in 

appropriate terms, the toast being drunk with enthusiasm and 
musical honours followed bj tl 
The chairman, in repl 

■ ing the members on -m 1. 1 

ol the occasions which revealed thai bond llowship 

which w 1 - so essi ntial to their own happiness and the pros 
of the company which they were so proud to sen-e. Referring 

■ 
days he should have the pleasure of putting h to the 

\. n to men who were compelenl to n nd. r 
first-aid to the wounded. Applause.) Then th 
men who had pa-- 1 and third examination 



illion of tli, society. R 
nun had a treble duty in regard to nmbul 1 
to thi n 
tin 111. Heai 

-1 1I1 nd 

ci Kill. I in 111. I - lould now 

•• R's" in tin 

arithmetic and rifle. V 

:Sir ( harles) -aid, 
■ 
1 \pplause. 1 Willi 
tin- death- 1 
the latter, In 
man in ill.- v\ ' >rum- 

to the exalted positii >n ol chairn 

1 . In years he had been chaii m nil for 

nan. I. .arii 
and v 

thoroughh qualified chairman in Mi. I' 
1 
ol Mi. Hugh Drummond. 

Irunk with enthusiasm and musical ho 
Mi. Hugh Drummond. in response, -aid In- had yet to win 

that he 
-In. ul. I 1 e w ell supp 

(Cheers.) I 

11 would not have taken the 
ol the chairmanship. He Imped to use tie ' harles 

Scottei had given him so freely, so that the I., and S.W. Rail- 
way would not -i.md -till, bul would hold the finest ] 
in the 1 He could 1 

ami sir Charl. - Owens, able man a- he was, < 
ild all do ii together. < 1 

THE PERMANENT WAY INSTITUTION. 

I a - ution held i: - 

■ - turday last at the Institution of Civil Eng 
■ * 
disci 1- 

:. the incre 1 - 
1 I the value of it- official "Journal." The 
Mi . W. Mel 
1 [ S v\"i R 

"* --, in which ! .--h and \ 

ways, 

Mr. 1. W. .1 
Sou 

Pillar H 
S I - E. Railway. Th< 

nembers and 1 Mr. 

|a imb-Hood, who presided, was supported bj fivi 

lailw .1 I : • V 

Symons Society of 1 

P 

1, which was enth 1 - 
in the course o requir- 

trackmen, and wh 11 waj men 



PERSONAL. 

Mr H. C. Mini 
Sir Ernest Page! 

Mr wthur Worley. | 

. which i- 

. ' I 

Sir Win. Mackenzie, 

wa\. •■• 

Mr. R \\ 



i 5 6 



THE RAILWAY TIMES. 



[February ii, 1911. 



CORRESPONDENCE. 



THE STATE'S THIRD. 

, / I 1,1, Railway Timi S. 

sik \ t the 1 '<" ■ 'ins ' ! ' ,l ' LB - and S.C.R , Lord 

0Ui rh, I he chairman, called attention to the increase 
in rates ind t; * - 1< vied upon the company. I have looked 
into ,]„■ |-,jr ur , -, which show .1 state oi things somewhat 

|.\„ the vear into, £241,107 was paid under this head oi 

expenditure', while the total net profit earned and dmsable 

mwngsl the ordinan shareholders was £,549. i/9' 01 tnls 

as to I- surrendered for income-tax, 

in j. it to £ 517,144 and men asiny the sum ol 

, 1V ,,: , Che result, then, of the years trading 

i, tlial the nation t 1 impi rial and local purposes takes mon 

. ,,, .third ol tin profits, and tin happj ordinan share- 

. .;,!, , I, »s than two-thirds! 

\gain, the mileage ol the railwa\ 1- 4*7 miles, conseqi I) 

the°rates and tax< 1 1: e ol income-tax appro a h £.500 

pet- mile, being in faci £495- l: > th' s connect*, n, as it 1- the 
fashion now a-davs in certain quarters to mould our system ol 
taxation on some Continental model, it ma\ be interesting to 
,- te thai the amount oi the taxes on the Lubeck-Biichener 

, f , the vear 1907 " works out to approximati 
p, 1 mili " R 1 ol the Board oi Trade Raihva\ < onfi mice, 

10' "I, p. Oi). . ,. 

\ n-V, ,, deal I observe, has been talked later) oi Socialism 
in fjturc, but when we have arrived ..1 such a stage that the 

S, 1 s, i/. one third or more oi the profits oi the ordinan 

partners in an old-established industrial undertaking .1- tin 
ordinary shareholders in a railwa\ companj undoubtedlx are 
h 1V e vii not Socialism in prsesenti in our midst ? 



BRITISH AND IRISH RAILWAY DIVIDENDS. 

The following table shows the dividends on the ordinary 
stock, uniess othervvisi stated, of the leading English and 
Irish 'railways for the half-year ended December 31, and by 
the Scotch "companies for "the half-year ended Januarj ji. 
For convenience of comparison, the dividends for the corre- 
sponding half of the previous years are also shown. 

Second Half, 1909 Second Half, 1910. 



FR VN( is RoXHl Willi 



. ; . Li instei Gardens, \V 
Februan 8th, 1011. 



\ ale ol Glamorgan Railway. At tin half-vearh meeting on 
Februan \, presided over b\ Mr. E. [.. Evan Thomas, the report 
and accounts 1 1 summary .'I which appeared in laiM Saturday - 
R mi u \i I [Ml s) w< re adopt, d, 

Paris Suburban Electrification. At the instance "I thi Western 
Rail\va\ ..I France plans an being prepared foi tin 1 lectriflca- 
tion .if the whole ..I the company's suburban system .11 Pans 
ai an 1 stimati d 1 osl oi £4,000,000. 

The I.ale Earl Cawdor.— Earl Cawdor, who died on \\ ednesda) 
last, in 1S95 became chairman ol the Great Western Railwa\ 
Company. I 1 » was the youngest chairman of a British railway 
at that time, and during the years that he filled the chair al 
-i,,ii marn reforms were made. South Wales owes 
much t.i Earl Cawdor's railway policy. The new line to 
i i ig-ham and the op> ning ol Fishguard harbour for 

Irish and Atlantic traffic wen largeh the result ol his influence. 



p E CKETTS coMoT1 VES 

M^*^ Built to any 

Specification or Gauge. 
PECKETT & SONS, 
ATLAS LOCOMOTIVE WORKS. BRISTOL. 



MIDLAND 

RAILWAY CARRIAGE & WAGON CO., LTD., 
Builders of 

RAILWAY CARRIAGES, 
RAILWAY WAGONS, 

TRAMWAY CARS. 
and every description of Rolling Stock. 

MIDLAND WORKS, BIRMINGHAM 

and Abbey Works, Shrewsbury. 



Name of 
Company 



Bala and Festiniog 

Barry 

Belfast & Co. Down 

Brecon & Merthyr 
nan (def.) . . 

Cambrian 

Cardiff 

Central London .... 

City and S. London 

Cork Bandon & S.C. 

Dublin and S.E. . . 

Furness 

U.i S S.W. (def.) 

1 Ireal 1 lentral .... 

Great Eastern .... 

Great Northern (di 1.) 

G.N. (Ireland) 

G.N. of Scot, (def.) 
Gt. S. & Western 
(heat Western .... 

Highland 

Hull and Barnsley 
Isle of Wight (def.) 
Lanes, and Yorks. 
L'pool 1 Iyer, (pref.) 
Lond.B.&S:C. (def.) 
L. C. &D. (1st pref.) 
London & N. West. 
London* ?.W.(con) 
Lond. Tilbury & S. 
Marx pin t and Carl. 

Metropolitan 

Met. Di^t. (guar.) 
Midland (deferred) 
Mid. Great Western 
North British (def.) 
North Eastern .... 
North London 
North Staffordshire 

Port Talbot 

Rhymney 

South Eastern 
Stratford & Mid.Jun. 

Tall Vale 

Vale ■ 1 ' llamorgan 



£229 . 
1,527 . 
2,600 . 
1,325 . 
14,233 . 
287 . 
26,649 . 
39,000 . 
1,868 . 
1,900 . 
5,447 . 
1,453 . 
9,158 . 
4,400 . 
19,285 . 
24,762 . 
:'..",. 572 . 
2,501 
30,984 
74,400 
6,630 
23,164 
191 
22,811 
4,696 
21,900 
769 
113,000 
28,856 
2,893 
1 ,288 
3,904 
359 
24,360 
3,967 
22,271 
so. too 
5,371 I 
9,000 
139 
17..-.77 
9,247 
1,405 



41 .. 
63 .. 
6 



nil 



I'll 

. . r'3,290 

. .a6,140 

. . 421 

pl2,064 

. . 6,421 

..16,271 

633,242 

.. (7712 

. .c3,538 

H2,147 

. . 2,098 

. .09,198 

.. 7,577 

. .98,720 

j'67,149 

..51,100 

. . 2,996 

/64,820 

. .98,875 

. .10,297 

4; ..10.041 

4 .. 1.741 

1; . 38,693 

1 .. 4,614 

t . 36,861 

4>. ..39,137 

7 in lis.:, 17 

s ..32,852 



1 , ! 



s! 



. . 4,013 

. . 1,800 

. ./i5,927 

[942 

100,203 
..16,228 

320,511 

. .'.11..: 

. . 4,918 
. . 10,546 
. . 30S 
. .17,374 
. . 8.690 
. . 743 



irks and buil til 



enewals. ft Full dividend foi th< u hoi. 
for tl «■! 

.... .' All. 1 pl.t. iii^ 1 s, -' '" \\":i. 1 1 l.i.. 

f 1 ..' erve. n Interest paid on A 

.i! a. count 
i 



£196 . 
1,807 . 
3,27 t . 
1,134 . 
18,152 . 
5,334 . 
5,876 . 
4H.07'.i . 
I 634 - 
2,289 . 
6,226 . 
1,523 . 
9,330 . 

1 

20.19S . 

: 1 

38,400 . 

."...-.04 . 

33,419 . 

96,902 

7.12s 

20,238 

•204 

23,044 

5,917 

25,469 

4,768 

100,000 

32,009 

2,249 

1,313 

6,044 

S.527 

36,123 



11. 1 1 

p. 1 . per carried 



2.254 

&6.460 

1 ,385 



3 .. 3,791 

3 ..('33,645 
1, .. (/I.TSS 

2 .. /3,546 

1; . .gl:i,'.»73 

2; .. 3,170 

4 .. j 8,500 

41 Moo.ooo 

2; m85,163 

.,; .. 51,000 

:,; ..»60,396 
74.. 111,7110 

4£ .. 12,77:5 



. . 39,000 

.. 4,240 

38 200 

. 71, 'HI7 
P118.000 
../:r..i42 

. . 3,900 

.. I. '.100 

. . C9.499 

.. &2.020 

lnl .,11' 1 

319,500 



85,476 
6,300 

10,952 
1,239 
7,057 

20,420 



I.M 



Hi::, '.170 
. . ell, 142 
10,682 
. . 1,719 
. . 7.2S2 
. . 10.S0O 
606 
. . 27.867 



iunt and £1,100 to 

t ;co to renewals. 

annum on 

■ ■ insurance fund. 

1 sooo to electrical 

7 After placing 

\ ear mi the 5 per cent, con- 

on the 4 per cent. 

account. 111 After 

1 anil I per cent 

15,000 to 
5 Alter placing 



I'M.. 



I . SI I 1 

re ervi 



b Alter 

wi I.. 1 li . [1 1c.1l r, 111 wals aid di pri 
Inn. I. , 0.000 ti> 

, \n,., ,.i inn ' mm 
en « ;. \fn r pi icinn ! 10.000 111 

1 imboat ii in mils 
i 
1 After 



I'l BRUARY I I. I9II.] 



TH1 KMI.W \V TIMES. 



157 



RAILWAY STOCK AND SHARE LIST. 



HOME RAILWAY ORDINARY STOCKS. 






Hurry, Ord. 

Do. Pre*. Coot. tird.(4%) 

Do. Daf. Conv. On! 

Caledonian, I 'r.l 
Do. 1 ■'■ I. I on?. Ord. (8%) 

-.1 

1 

Cambrian." 1 

Cona. Ord 

Cardiff, l'r.r. Old., 1««(4%) 

Centra] London, Ord. 
Do. it. f. |4%) 

Do. De(. 
City .v. Booth Ix.iulon.Coiia. Ord.. 

. Cms 



Glasgow and s, Western I'r.f. OrJ. 

Do. Del. Ord 
Great Centnl, Pref. Ord. (6%) 
- Ord 

Great Eastern, Ord 

Great N. of Scotland, If. Cut. Or. 

Do. Del. Conv. Ord. ... 
Great Northern, I'r.f. Conv. Ord. 
I -.1 

Do. Conn. A 

Do. < 

Great Northern (Irelandl, Ord. ... 
Great North * City Pn 1 

-ndjOrig. 

Great \V. It) rn, Cong, c ird 

Highland, Ord. Cona. Capital 

Hull and Bamall v, 1 

[ale 1 ( v, - ird. (4%) 

Do. Dc(. Conv. Ord. 
Lane, and Yurie.. Cons. Ord 



r Ago. 
160 



Last Week. 

152 155 
85 87 



841 2 

e?.i, 

223, 

5 8 



85'? 
63U 
23 



10^8 

59»4 



93 's 
42U 
39's 
139 



20'2 
1058 
6OI4 



88'2 

64 '4 
25'2 



70 
89>2 
64 3, 
2534 

1<8 
3'4 
314 

87 
67 
87 



23'2 

1258 

673, 

63 

18 

96 



12114 121^4 



1' 

95 

49'8 50'a 

47U 47*4 

142 14s 

123 125 
3, 1 



Yesterday. 

149 152 

83 85 

66 69 

88'2 89': 

64>2 65 

25^4 26 

lis l 3 ! 

23 4 3'. 

23, 3' 

83 86 

6b 68 



37 
37»2 

233 4 



4" 3, 
142 

I2i 



27'2 
4 'a 

53 

59 

38'! 

24'l 

12?8 

673, 

63 

19 

96 

5C 5 8 

48 >4 
145 
125 



Lond. Brighton 1 B. Coaat, Ord., 

Do. 1 f. 6 128 

' 

London and North W 

London and 

Do, 1 92 

Do, Dof. 

1 

39 

Do. Surplus Lands Stock 66 

. I 

Midland, Pref. Conv. ord. (2J%) 623 4 

Do. Daf. Cont. >>"\. . 59'2 

North British, Ord. Pref. (8%) ... 66U 

Do. Ord. 

r. Or. 91 

19 

1S2'4 

North L m . I 102 

Cons. 1 ird. ... 84 

.t S.W. .Inn., Or. 42 

Port I albol Km. way and Docks ... 12>2 

12 3 4 

Bhymney, Cons. ord. Cap. Stock 202 

Do. 1 98 

Del Ord 102 

- "I shares 3I2 

South Eastern, 1 ird 65 

Do. Prel 104 

Do. Del 29'2 

Ord. 47 

Tafl Vale, Ord. . -1 

Vale of Glamorgan, Ord jb 



1C6 
130 
83 '2 
7 '2 

133 

93 

41 



99 

8'2 
14'z 
141 
140 
95'2 
46>a 
141 
2'2 



263, 
B3», 
68 1 



118 
135 

99'! 
9>» 

143, 
141'! 

- 
86 '! 



64'4 
6B3, 
67'! 

33'a 



133 



1- Ml rj.y. 

112 114 
131 
96'? 
8't 

140 



96 
463, 
145 
2'! 
393, 



9>2 
14 

14314 
14^ 



97 

47', 

3'2 
40'4 



1 3'4 

207 
100 
107 



20 23 
130', 1303, 



14'2 
12>2 
204 



14'2 
12'2 

204 



Debenture Stocks. 



Alexandra Docks and Railway.. 

Barry 

Brecon and Merthyr A 



Do. 
Do. 



Cardiff 

Central I. od 

City and P< rpetnal 
■ ion 2nd Charge A 

Do. 2nd Chart'- 1 

Do. 8rd Charge 

Do. 4th Charge 

Do. E irea 

Do. W'hitechapel Extension ... 

Forth Bridge 



Glasgow and South Western 

Great Central 



Do. 



Great Ka- ■ 

Great North 01 Scotland... 

Great Northern 

Ireland! 
Great W.- 



Highland 

D . 

Hull and Bamsl.-y 1st 

Do. 2nd 

Isle of Wight 

Lancashire and Yorkshire 
London and Biackwall . 
London and Greenwich 
London : ith Coast.. 



107 
129 
117 

89 
108 
105 

B24 
1C6 
110 

114 

122 
136 
69 



109 
131 
119 

91 
110 
107 

83', 
109 
112 
116 
124 
138 

70 



Debenture Stocks 

North Eastern 3 B2'4 H3 >, 

44 119 121 

:j 80 Si 

'■ 1 4 t6 98 

' 1 5 107 

- and Swansea bay 4 104 106 

Bhymney Perpet lal ' ... 4 103 105 

4 92 94 

Sooth Eastern Perpetual 4 106 108 

6 131 133 

Do 3$ 60 92 

8 80 82 

Tafl Vale .1 79 81 

Tottenham and Forest tittle 4 101 103 

Nal.- I Gil I 77 79 

Whltechapel and Bow 4 103 105 



Preference Stocks. 






London Ctiat. and . 



Da 1883 

Do. 1890 

Do. 1899 
Do. 



London and South Western A . 

I 

V - iu 



3 82 '4 
4J 1C9 

4 100 
4 107 
4A 120 
4* 115 
44 112 
4 98 
4 98 



3J 86 



81 
1C7 
104 

83 '4 
111 
102 
109 
122 
117 
'.14 
100 
100 

76 

76 



Do. A 



Metropolitan District G 14. 



Midland 


Do. 




Do. 









North llnti-h 



AJei. Docks, and Rail. 4j% 1st Pref. A 99 

Do. 4 ... 86 
Barry 6 

101 

1C0 

Caledonian 4% Cons. No. 1 10b 

105 

Do. 131 

Do. 4 , 18B4 104 

Do. .... 104 

Do. 4- 1902 104 

Do. 

. 

Cambrian No. 1, I ,, 19 

City and S ... 104 
104 

99 
91 

Prol. Stock li, is.^1 00 

... 88 
88 
Glasgow ami South Westi rn 

Do. 1 

Ho 
M874 116 

ill 

84 

... 55 

Great Kb ... 103 

Do. 11. 1 
Great Not 

i' r. 



121 

1 5 
102 

10a 

n . 

133 
106 
106 
106 
106 
106 
20 
!0o 
106 
101 
1C 
101 



108 

105 
1 4 
1( 4 



118 
lid 

113 

1 C B 



Preference Stocks 

lib 

Highland ■ .. 108 

116 

Do. :■■ 

Do. :;' 

Hull and i 90 

... 99 

f. ... 80 

. „ 104 

... 104 

130 

.... 129 

86'2 

62 

83 

ef... 110 

... 109 

■ f .. 108 

Do. 4 - 107 

9? 

-f. 104 

>. I 102 

Pref. 2'£ 

89 

86 
Mctropohl . 

Midland; 68'2 

.... 63 
105 
1 1 . 
129 
127 

I ! .' 
IS . 

103 
103 
li 
105 
103 
1 5 

' 

1 1 1 



138 

110 

ll-< 
94 



B7 

81 
106 
106 
132 
1J1 

87'2 

64 

85 
11. 

I : I 
110 

II 9 
9 -J 

106 
104 
3 '2 



B8 

Bo 
75 
69 lj 
65 

1 7 

11 I 
1 SI 
129 

119 

12 ■ 
105 
105 
105 
1 5 
105 
IC 
105 

I ! 

II ' 



• - 
. „ 



i 5 8 



THE RAILWAY TIMES. 



[February ii, 1911. 



RAILWAY STOCK AND SHARE LIST. 



Colonial Railways. 



Pill, IS. 



Albert!, P.y. A Irrigation, Cap. Stk. 

. n.A !ln.l,..li Hal l.-l Ml.'. 
Atlantic A N.W. o % (luar. 1st Mt. 

Beira, 4s% Jit. Deb. Bda 

Income Deb, stk 

Bulla!., A Lake Huron, Orr 



Clp-y. A Ednmtn. 
Canada Atlaiitn 
Canadian N. Or 
Canadian N. yu 
Canadian Nur., 
Canadian Pacific 



D6. Di bs, 

. 1-t. Mt. 



■ Iiai 



Do. 



, Non-Cu 



. Pre! 



Central Ontario, ;",",, 1st Mort 

Dawson Or. Forks* Slcwartl.iv. rti'-; 
Deruerara, Ordinary Stock 

Do. 7% Perp. Pref. Stk 

Do. 4% Extension Pref 

Dominion Atlantic, Ord. Stk 

Do. 6% Non-Cum. Pref. Stk. ... 

Emu Bay A Mount Bischofl 

Grand Trunk Pae. Hi anal, 1 ", 100. 

Grand Trunk Pacific, 1 I 

Grand Trunk of Canada, Cons. Stk. 

Do. Guar. 4% Stk 

Do. 6% 1st Pr.-f. Stk. Non-Cum. 

Do. 6% 2nd do do. 

Do. 4% 3rd d do. 

Klrksdp.Frtn. Streams, r."., 1st Mt. 
Manitoba S.W. Col. 5';,, 1-t Mt. Db. 
Masbonaland 1st Mort. 5% Debs. ... 
Do. 5% Guar. Mt, Di bs. 

Mid]andof\V.A.,6';„Cum Iiin.nu Db 

Nakusp A Sloean.P-;,. Pds 

Natal-Zululand, 8% 1st Ml 

New Brunswick, &','„ 1st Mt. Debs 



102 

185>4 
103 

106 



W 
4 

I 1 
82 '2 
20m 
93'2 

108 

99 

5412 
106 

I I 5 
y5'2 



104 

185^4 

104 



4'2 
102 
8312 
23 

9412 

109 
100 

55 
108 
117 

9712 



Last week. 
145 150 



100 102 
214'2 215 
104 105 



43 4 

101 
8212 
25'8 
93 

108 
9712 
541 2 

108 

114 



Yesterday. 
145 150 



1 00 


102 


2 1 7 


217'2 


104 


105 


105 


107 



41, 


434 


100 


101 


8H2 


8212 


2614 


21 '2 



106 
112 

100 

10s 



10H 
1 1-4 
102 
104 



Quebec Centra 


-■.1 


12 


13 


I8I2 


1912 


1812 


19 [ 2 


Do. 1' ! 


1 stk. Ri a. 


1 1 


103 


100 


102 


100 


102 




k Hed. . . 


72 


74 


76 


78 


; 6 


i 8 




„■ ,,n Bonds, Red. 


11 1 


113 


114 


117 


114 


1 17 


Rhodi ia, 5% 




97 


99 


10' 


104 


102i| 


10412 


Do. 4% 1 


st Mt. Deb: . 


85 


37 


88I2 


9012 


881: 


S012 


Bt. Lwnce. A Ot 


tana,!",, IstMt.Bds. 


1 C 2 


104 


102 


104 


102 


104 


Bhswp. 4 Okng 


11., 1 ■., 1 1 Mi. Bds. 


74 


76 


71 


73 


, 1 


73 


Temiscouata, I 




103 


105 


100 


102 


ICO 


1 1.02 


Temiscouata 1; 




27 


30 


26 


23 


26 


28 


lor. Grey A Bi 


., . l 1 


103 


105 


102 


■ 4 


102 


104 


White Pass an 






4I2 


2 


3 


2 


3 



American Railways. 



Alab. Gt. South, 

Ho. Pref. Shares 

Alab.N.Orl.Ts .A Pa, . no. "A" Pf.l. 



4312 4412 i 43'2 



Do. 



1 I. ' D, 1, 



Atchison, Top, !.., d 

Do. .',;,, Noii-Cinn. Prof. 

Atlan. 1st 1.. .i- . .I 1. in, 1,, ni.iOi r-t. 

Baltimore & Ohio, Com r. 

Do. 1"„ Non-Cum. I'M. 
Chesapeake A Ohio, Common 

Cla ■acuCt.V,, -I, 111,1 an 
Do. 1",. On M. 

A 1 Paul, Cm. 
Do. Prefd. 
a A bin burgh, - 
Ii™, , A 1 

1 
Do. .Id. 811; 

Eric, Common 

Do. 1", Son 1 : 

Do. I 
Great Nortlu mlL'.S- '.1 I',, 1,1. .. 139 
Illuioi • t eutral, I 01 n . 0141;' 



00 

614 


54 


61 
9'4 


934 


9'4 










5 8 


117'2 


118 


10914 


1093 4 


110'4 


106 


107 


106 


107 


106 


1 , 


109 


106 


108 


1 C 6 


1 13'2 


114 


109 


no 


109 


93 


95 


90 


92 


90 


8<l2 


84 '2 


b, 


87 '2 


885 4 


00 


25 


04 


26 


24 


5 


30 


48 


52 


48 


'4, 


148 


135 


116 


1323 4 


1 1 5 


1 70 


157 


162 


152 


00 


89 


83 


87 


£2 


59 


40 


33'2 


34 


34 


59 


40 


33>2 


34 


?4 1 



440. 
61 
93< 
34 
11C ■', 
107 
108 



ha 



I 

Ni 



141 
14512 

103 



Do 






eld. . . 

1 la. til. 



15012 

• 
1 0,4 

40 1 
73 



140 
142 
152 



,-0 
33 , 
2 '2 



151 '2 

142 

1 0. 



152>2 

144 

156 



36'4 363 4 1 37>2 38 



27 14 
New YorkC.-l 

A West. 45 

Norfolk ill, li 11,1 nil |04 

Do. 10. Noil ' mi,. Adj. Prefd. 90 

Northern Pacific, Capital stk. .... lis) 

' • 671; 

Pittsbrgh, 10 Wayni A 

Ho. k Island, C, 1111 1 ... 

Do. Preferred 85 
123 

Southern Pacilic, Coin. Cap. Stk. 12712 

Southern, Common stk 283a 

Di . '•",, N.N. Cum. Prefd. stk. c5 i z 

Tunne' lolo of St. Loui 1 1 ; a 

Onion Pacific, Common . [88 

Do. 4",, Non < urn. Prefd. . 10J 

,,,111111 20'2 

Do. Preferred 45^2 

I .:-. '- or] BO 1 ! 

Do.7"/„ Cum, Pref. '00 



109'2 11012 10£'2 



130 


10 




67 14 


168 


172 


81 h 


82 



128 

128 

0"'! 

t -O 
128 
1830' 
104 

21 lp 

48 

8 1 
1?3>2 



126 

1: .p ■ 
291? I 



1. 1 
1 1 
12314 

29>2 

87 '2 
120 
185U 

96 

1 . 



H7'2 
45 12 

110'2 
04 

1 52 
66 14 

172 
83'« 
3414 
66 



Foreign Railways. 



Closing Prices. 



Alcoy A Gandia, 4% Debs 

Antofagasta (Chilil A Blvia. Pf. Ord. 

Do. Def. Ord 

Do. 6% Cum. Pref 

Arauco, Ord 

Argentine Gt. Western, Ord 

Do. 5% Cum. Pref 

Argentine N E., Stock 

Argentine Transandine, 7% Cm. Pf. 

Arica A Tacna, Shares 

Babia-Ulanco A N.W., Hilar. Stk.... 

Do. tt% Guar. Stk 

Bilbao River A Cantabrian, Ord. ... 

Bolivar, 50.;, Pref 

Brazil Great Southern, 7",. Pref. ... 
Buenos Ayres A Pacific, Ord. Stk.... 

Do. 5% 1st Pref. Stk. Cum. 

Buenos Avres Cent. ,44% 1st Mt.Dbs. 
Buenos Ayres Gt.Southern Ord. Stk. 

Do, 4% Extension Shares... 

Do. 5% Pref. Stork 

Buenos Avres Midland ft ",, Pnf. . 
Buenos Ayres Western, Old. Stk. 

Do. 5% Pref 

l(Clmbia Isl Mt.Dbs. 

Central Argentini Cons. Ord. stk. 
Do. In fi rred Stk. 

Central ' rug a, | .-, in I Mn 



Central I'rui'i 

I 

Chilian 1 rans 

Columbian Sa 



26 
98 

128 
104 

41 8 
102 
109 

42>2 

1 lis 
3 

88 



122'? 
1158 
124 

"16 
125'2 

1214 

,4'- 



r Ago. 

28 

100 
130 
106 

43s 
104 
111 
4312 

12 
JO 
90 



12312 
11 '8 

126 
15,6 

12612 
123 4 
750. 



D . Non-Cu 

Crdba.l 1 1 I 



1, . Ni M , 



1 . 1 . .1 l A . 
Do. 



lyaquil A I.' 1 47 : 2 

89 

, 

. .1. 98 

■ '■■ or A , 5 

22>2 

Leopoldina -i 68I2 

Do. 110, 

1. in, a. SI - l's 

I',. J 

Stk 3512 

Do. l-i I n - . ■■ 132'2 
Do. 2nd do. .. do. 7Jia 

Red. . 104 

sti s 103 
M. m,.. N. Western 5 1st Mt. Bds. 82>4 

Midland I ruguay, Ord. S k 15 



1 1 14 

12 0: 
40l; 



36 
13312 

74 12 
106 
104 

8314 



32 

103 
140 
104 

3'8 
103 
1 11 
46 



28,.;, 
514 

9012 
107 

96>2 
118 

I 1 
119 

68 
123 

113 4 

7512 

10512 
£7 

70; 
y|.. 
6 



34 
105 
142 
106 

41s 

105 

113 

47 

12 

33 4 
94 
103 
93 4 
"32 
53 4 
91 12 
109 

9712 
119 

HI4 
120 

34 

124 

1214 

7612 

IO6I2 



32 
103 
140 
104 

4is 
103 
1 1 

46 

11 '4 



101 
914 
2132 



34 
105 
142 
106 

438 
105 
112 

47 



94 
103 
93 4 
' -a 
5 '4 
92 
109 
9712 
12012 
III4 
120 



107 
9612 

11912 

11 

119 

58 

123 124 

U3 4 1214 

7512 761? 

105'2 IO6I2 

97 99 

75s 7'a 

958 9?8 

63 4 7 

8d 90 

95'2 96'2 



86I2 8712 86I2 8712 



3 0, 
'.0,4 
100 



4 

100 

102 



5 , 
93 4 

100 



9212 93'2 9212 



22!2 2312 22 [ 2 



1 l'i 

51.. 



14212 14U2 14212 



102 
812 
46'2 
97 12 



04 

90 '2 

72 
101 
6'2 

23'2 

67 

110 
314 
5>! 

523 4 



17 



1 2 ' 1 



13'2 
Pref. SI 
'..inh,... I;..l. 17I4 

.,., .:■". DI... 102 



1612 

101 

Ii. 
12L; 



1 , 
103 

104 



1/0 
100 

2U2 



8614 

16'2 
101 

102 



14 ; 
13 : 



8714 
1712 
103 

1 04 



171? 

100 
21'2 

2. ': 



1.0. I.I. \f. II, . ISI Mt. I., I-. 14,1. 

Salvadoi , < 'nl 

: I',. I 

Sao Paul.. (Bra: iliau), Ord. sik. ... 
'. ai ( uin. I'm f. stk. .. 
s .nib Austrian 

South Italian, 4 01 Is. Red. . 
s. Manchurian, 5 Ii Si I Red 

,.\..i. Cum. Pf.Stk. 
Taltal, o,d. Shan ■ 
I ntd.ofHavai A 1 



In I. 



1! 1 



Red. 



P2 


2 


234 


314 


23 4 


3 U 


31 


3 


2 3 4 


314 


3 


312 


26 


27 


26 


27 


26 


2 7 


14 


14>2 


133 4 


14^2 


133« 


14 '2 


82 'a 


8712 


84 


89 


84 


801 


21, 


23 4 


13 4 


214 


13 4 


214 


43, 


514 


414 


43 4 


414 


43 4 


204 


206 


203 


205 


205 


207 


1 14 


116 


112 


114 


112 


1 14 


-00, 


5>2 


458 


518 


458 


518 


1418 


14*8 


133 4 


1412 


1334 


1412 


102 


102'; 


104'2 


10512 


102 


102 12 


101 


103 


99 


101 


99 


101 


oU 


6'2 


6!e 


638 


6I4 


612 


88 


89 


78'2 


7912 


79>2 


8012 


1 00 


102 


99 


101 


99 


101 


1 1 10 


102 


99 


101 


99 


101 



Villa Maria A Kill, no. Guar. 
W, t. of 10 Ayres.:,., Mi Bi 
Wi -1. hi of Havana 
/.afra 4 Huelva, 8% Bonds.. 



10212 103'2 10012 10112 100>2 10112 



107 


109 


107 


109 


l'.i 


11 3 4 


11>4 


11 1 


5 i t 


1.0. 


6 


6 



■February ii, 1911. 



Till R.II.U \Y II Ml S. 






OFFICIAL TRAFFIC RETURNS. 





Barry. 


» 






■ 
Total (or week 

&ggr< a ■ 






1911 
£15.399 
£66.742 


1910. 
£15.917 




65*1 


65^4 


Deo. tin- ».. k. ;.:.sl« Dec. 


& 





Croat North of Scotland. 



Wc 



Calodonlan. 

191 I. 

I .-■■ 

Good*, no 51.400 

ToUl for week £78.600 

! 



ik end 




■ 



« 



Croat Southern 

■miuiL' 1 5 



Doo.lb.la week, 53,000 Di 1 »eok £3.000 



Cambrian. 



nding February 5 

PMiHmgnrn. ate 

i. i 
TauJ for 



Aggregate fa 5 -23.234 

280'c 



1 I 



Total (or week 

- 



1911. 
£] 1 . JJH 

1X.3.480 

£124,374 

1.121 



Western. 

1910. 
£11,523 
12245 
£23.768 
£116.312 
1,121 



Metropolitan. 



£15.177 
£16,620 

n 



• 1910. 

£14,794 

1.569 

£16,163 

£83,181 



■ 



,H . 






Croat Wostorn. 



Contral London. 



Week ending I 

Total tor weak 

Aggregate for 5 - 

iec. this iri 



1U11. 1910. 

i'5.438 £5.535 

£27.568 £27,809 



eks, £241 



City and South London. 

1911. 1910. 
Total f..r wi £5.489 £±.543 

Aggregate- 5 £17.735 i'!6.<92 



bruary 5 

Passengers, etc 

Qood 



Aggregate fur b 
MIN-s open 



iDO. till-* week, £D,000 111 



1911. « 1910. 

£93.000 £92.000 
139.000 135,000 
122 7,000 
1.191.0C0 1.160,000 
2,9933j 2,960 

51.000 



Metropolitan District. 

•1 1911. 

. 
Total (..r reek 

".909 



£ : 82 I 
24 



Midland. 



Wei k ending 4 lai ]. 

i. 



i . 



7'; 



- 
Total loi reel 



191'.. 
£4.574 
3,516 



1 1910. 
£4,767 
3,573 



i'.46 I" 



£943 



Dublin and South Eastern. 

■ 



Total for week 



k, £250 



Hull and Barnsley. 



ToUl for 

1 k. £16.000 In 



b « 



180.0CO 
1.156.000 

£44,000 



a 1910. 
£61.000 

168,000 

- 

1.112.000 



.4 1 



Midland Croat Wostorn of Ireland 
Week end 



£544 



1911. 1910. 

£3,446 £3,376 

■ 

£49.150 £18,554 
538 598 



North Britinh 



11910. 

£5,119 
1.100 



1911. 



■ 



Furncss. 



ruary 5 

... 

iol.753 
eok, £1 .094 



Lancashire and Yorkshire 






1911. 1910. 

£1,831 £1.686 

7.733 £7.691 





Goods, etc 

Total for weel 
Aggregate for 5 

139 - 139 
£1,348 



£9,564 £9,377 



b 1911. 

£34.700 

72.381 
Total for week '107.081 



■ . 




■ 
Tstal for . 



1911. a 1910. 

£26,420 £26.613 
62.317 

£Hs.484 ' £88.930 
£35.484 tee. 930 



North Eastern. 



. 



1911. a 1910. 

£50,877 £46.937 

[39 110.709 

•'.16 £157,646 

- 

71 ,158 



Glasgow and South Western 



4 1911. 

£ 1 1 ,500 

Goods, etc 18.500 

Total tor 

150.0C0 
. - 
-, £500 



Croat Contral. 




London, Brighton and South Coast. 

1911. a 191Q. 



North London. 



Week ending ! 





£36.568 £35,278 
16,950 

£55.518 1 
£268.427 £260,974 
487 487 









Inc. this week, £118 Dec 



1911. a 1910. 

£5.816 £4,009 

4.718 
£8,554 



London Electric. 



North Staffordshire. 



5 191 1. a 1910- 

.000 £18.100 

. 1.100 £381 .800 
616' 





1 


Croat 


Eastern. 




5 1911. al910. 



4 1911. 

£14,065 

London and North Wostorn. 



1910. 

i:l U 



£44.600 £43,300 
- 
Total for weel 

£457.000 







. 


1 I 


Croat 


Northern. 



1«11. 1910. 

: 5.000 ! £101,000 
Lr.ndon and South Wostorn. 



1911. 

£4,500 £4.3C0 

Total for., . 
j 

Rhymnoy. 



Week 5 lal ;. 






South Eastern and Chatham. 



191 1. 

Goods, etc 

Total for week ! 1 14.200 

Aggregate for rj ^46.400 

Miles op en 1 . 008 1 

Croat Northorn (Ireland). 



1 



1911. 
£8,«32 
9,050 



1910. 

£36,500 

72.100 

£108.600 

£534.200 



1910. 
£8,199 
8.627 



1911. 1910. 

- 
29.400 
Total for . 

■ 



■11. 1910. 

£59.023 






: 















54 < 


543 



Inc. this week, £836 Inc. 5 weel 



London, Tilbury 


and Southond. 


1 ToUl for ». . k 




1911. 

£6,764 

19.667 


1910. 
£6.393 


' 


HI 


81 




5 





Taff Vale, m 




Wi .k ending I 

" 



■ 






-.*.— 1 The receipt* for the corresponding period Ivt year are a I 
Dock dues, etc., Inelade.l 

to mile. Joint ' I Include! re'eipt- of the 

e Canal 119 miles. I Includes steamboat rec. opts and tolU. m Fenarth Dock and iUilwaj Included. n Including S3$ miles jointly work 



i6o 



THE RAILWAY TIMES. 



[February ii, 191 i. 



OFFICIAL TRAFFIC RETURNS. 



BRITISH AND IRISH RAILWAYS, &c 



Belfast & Co. D. 
Brecon. & Me 

Cleator & Work. 
Cock. Ki-s .v 1 
Cork B. & S C. 
Ck. B'rck. &P. 
East London... 
G.N. and City . 
Isle of Man .... 
Isle of Wight . 
Isle of W. Cent. 

Liver] 1 over. 

Mane. Canal . . 
M'port. & Car.. 

Mersey 

Mid. S S.W. .In. 
Neath & Brecon 

Port Talbot 

Rhon. & 8. Bay 
Stratford A M.J. 



Mil 


age. 
1910. 


Latest Earnings Reported. 


Aggregat 


to date. 


1911. 


Wk. or Month. 


r.ui. 


1910. 


1911. 


1910. 


80 


80 


Feb. 3 


£2,534 


£2,305 


£12,157 


ill, 4511 


111 


m 


Feb. 5 


2,152 


2,203 


11.044 


111, SI IS 


291 


291 


Feb. 5 


1,184 


1,232 


5,891 


6,103 


311 


31! 


Feb. 4 


560 


628 


2,858 


3,183 




95, 


1 , l, 3 


1,550 


1,423 


7,555 


7,501 


16 


16 


Feb. 3 


351 


316 


1,497 


1,399 


$ 


°t* 


Novi ml,, i . 


3,350 


3,205 


17.1411 


16,454 


Si 


Feb. 1 


1,593 


1,548 


7,986 


7,747 


16 


46! 


Feb. 4 


380 


122 


2,002 


1,957 


"i 


14 


Feb, 1 


4'21 


405 


2,342 


2,284 


2] 


21;; 


Feb. 4 


607 


514 


2,948 


2,765 


ti. 


6 , 




1,303 


1.217 


6,901 


6,380 


L68 


I6a 


! 


61,504 


55, i-i 


555,735 


534,059 


"i 


"l 


Feb. 4 


2,129 


2, LI 12 


10,793 


10,833 




t 


Feb 1 


2.010 


1,922 


10.248 


9,963 


60 


60 


Feb i 


1,521 


1.526 


7,580 


7,372 


40 


10 


Feb. 5 


1,615 


1.465 


8,077 


7,696 


- 


362 


r. b. 5 


2,1132 


2,864 


13,690 


13,145 


31 


31 


Feb. r . 


2,382 


2,375 


L2.295 


11,482 


663 


51 


Feb. S 


822 


698 


4,174 


3,88S 



FOREIGN AND COLONIAL RAILWAYS. 



Mileage, 

i:Ul. lino. 



Alcoy & Gaud. 

Algeeiras 

Ang.-Ch. Nit. i 
Antof. A Bol — i 

Arg. N.E , 

Arg. Crans. . 

Assam-Bengal 

Barsi 

Ben. & N.W. .. 

Beng, Dooars ... 

Extensions 
Bengal Nag. .. 
Bil. liiv. i!i C. 

Bolivar 

Bomb. B. ACL 
Braz. lit. Si]....- 
B. A. A Pac. ...i 
B. Ay. Cent. 
11. A. En.&S.d 
B. Ay. Gt. S. ...i 
1!. Ay. West. 



1,895 

311,1 
117 

- 2.112 


I 11IJ 
• 2,41il 



771 


Jan 


79 


Feb 


1, SI 111 


Jan 


36J 


July 1— 


117 


July 1- 



a 1,460 

.c 1,340 



2.750 
1,360 
1,340 

;; 180 



Can. North. 

Can. Pacific ...■ 10,29s I0',180 
Cen. Argentine ° 2,013 2,528 
Central Urug...." 271 271 

East Exten. ". 277 ot 

North Ext. ...» 182 182 

West Exten. a 

Chillagoe " 

Cordoba Cent. a 
-Cent. N. Sec. " 

B. Ay. Exten." 
Cord. A Kos. ...» 

Costa Kica a 

Cuban Central a 
Del. 1 in. A K. c 
tD< 



I I.;., 

12-, 

667 j 



West Const., b 

11. lr.,.1 I n;, I. I 

Dotu. Atlantic b 
East Indian ... r 
Egypt, Lelta a 

Emu Bay... 

■ 
G. Ik. ol Canada 



.11 - 



1 Lin. 



Wk. or Month. I 1111(1-11 



Latest Earnings Reported. 

1909-10, 

14,11110 
28,837 
18,500 
27,800 
1,067 

2,372 

93,766 

13.41111 

2/11,355 



Aggregate to Dale. 



15,511(1 

3 ;,n27 

26,1150 

2-, 51.111 
4.4711 

2,916 

I is,, Mill 

II ,1111 
.!,lil,27il 



1', is llll'.r. 

Feb.5 
Feb. 5 
Feb. 5 
Jan. 7 

in ays. Jan. 

lOdys. Jan. 
Feb. 1 
Feb. 4 



T.im.i 

Mills 
7,000 

:l,sl.:iuii 

■11,111m 
:i..,:ii;s 
18.371 



lllln-11. 



i;.ii5.iiun 
9,063 
1,943 

10.711, I WO 
27,51111 
li.,, 1112 



HI. 



571 



2111,5011 

11/156 
5,157 
1,720 
1,1:1:1 
6,117s 
3,920 
1,500 
2,7:in 



7,16! 
16,714 
44,000 



I ', -'i-iiil„ 1 
7dys. Nov. 

-I inn 11 



Canada Atl. a 
G. T. West 1 
Det.a.H.&M.a 
Total .. -.11 
iu. li ,1 :■, 11. c 
G.W of Bra 

1,6111m ! 

11.11. Nl.'ain's c 

Hyder. <..,.(. r 

1 Mex. It 

La li. & Cai a 

Leopoldii 

Mad. a s Mah.c 

Manila 

Masuoua 
Mexican A 

ii \n 1 

Hid. 1 ruguay a 

1 1 car u 

.......a 

N.W. ol I rug. b 

Ottoman a 

Peruv. i 

1'iiH. A16. Pel. ,', 

I'm m. 1 

(JU. I1..V 

Qu, bed 

,1 
Kohil. ,v Kino. , 

Luck 
Salvadoi 



-s 

1.1 16, nils 
2ll.ll. .11 
112,21111 
155,767 
65,1163 
IIS, 51 10 
76.1116 

3,111,2711 
13,51111 
21, 167 

111, 55, 61,0 

8,668 
38,697 

.in. 77, mm 
121,000 

2,5112, in, 
115,11s 
21,5112 

2.112 1.5S6 

1,451. .'I'lll 



113,427 I 

49,190 

...726 
176,1711 

1.11,1,11) 

IIS, 155 
1:1:1. :i In 
185,707 
l!is,s73 

117,176 
12,1111 



l',2:i,77s 
57.5S7 
l.ln.'.inl 



1909-10. 

78.1166 
1,621,7111 
18,5611 
l-in.l.sn 
133.186 

111.81 IS 

113,766 
81,572 

2,111,553 
26,81 i I 
27.265 

12,12,11011 

9,063 

27,7(11 

51,211.0011 

218,1106 

2, 286, .567 

711, 4 47 

16,275 

2,722,175 



FOREIGN AND COLONIAL— Coh/mihi,-/ 



Railway. 



Sthn. Punjab.. 

Ludha. Ext. 

Sutlej Valley 
South. Indian.. 

Taltal 

Temiscouata .. 
Lin. Ryu. Hav. 
Urug. North .. 
W. of Havana 
W.P. A Vukon b 
Yucatan I nitedfc 
Zaf. & Hllelva 



Mileage. 


1911. 1 1910. 


J 425 


425 


I 155 


155 


2111 


210 


- 1,6114; 


1,0114; 


184 


184 


113 


113 


1 660 


660 


725 


721 


1 147 


147 


•> 112J 112J 


i 1 112 


112 



Latest Earnings Reported. 



Wk.orM'th 1910-11 1909-10 



Jan. 7 

I In 1 

December, 
Feb. 4 



Fi b. I 
January. 



112,11118 

17.931: 

14,070 

1,71,734 

23,152 

15,351 

.: 1,065 

1,915 

5,274 

1,980 

55,31 111 

11,38.5 



!, 4.5,645 
23,917 
16.432 
39, 1.8,1 
1,702 
1,634 



Aggregate 1 1 Date 



1910-11. 1909-10. 



5.51,040 
711,1184 
I14,2I',0 
4,71, 734 
124,380 
112,656 
6111,11119 
15,165 
156,2511 



6113,164 

12,616 

153,198 



.:.:, 



UNITED STATES RAILWAYS. 



Alab. Gt. Sth. ... 
Ala. N.O.ctT. P. 
Ate. Top. AS. Fe. 
Bait, a Ohio 

(-'■nt. of (ieor. ... 
Cent, of N. J. ... 
(.'In,-.,'. Ohio , 

Chic, (it West 
Ch. Mil. & S. P, 
Cin. N.O.&T.... 
CI. Cin. Ch. &c, 
Deny. & Rio G. 

Erie 

Gt. vorthern 
Illinois Central.. 
Louis. & Nash... 
-Minn. A St. L . 
M.St. P. S.S.M 
Miss. Kan. AT... 
Nat. of Mexico . 
-V I. C. ix II. li 
N. Y. (int. & W 
Norf. & West. . 
Northern Pac... 
St. Jus. A G.I.... 
St.. L. A San. Fr. 
St. Louis S. W. 

,s A I'a.ili,' 

Wabash 

Whl. & L. Erie 



Mileage. 



191011 1909-10 



111,12:1 
4,434 
1,916 



337 

1,98-2 
2,777 
2,22.1 
7,271 
1.651 
4,591 
1,027 
3,572 
3,368 
1,750 
3,587 
515 



319 

4,731 
1,471 
7,0.18 
1,884 
2,514 
457 



9.7H I 
1.459 

1,916 

1.1,7 
1,9 :- 
1,487 

7,. II 



3.124 
3,368 
1.732 
3,587 



319 

4,726 

1,469 

7,050 

1,811 

2,511 
458 



Latest Earnings Reported. 



July 1 to Latest Date 



•Month. 1910-11. 1909111. 1910-11. 1909-10. 



$82,8(12 «7-,.".:o s2.tl,.s,,l,l -2.1'.-. 915 



698,001 
11.1.02,11 
6,841,821 



13,000 3,612,000 3,313,000 



k. J:,,, 


1.1 19. 896 I.I 


15 IK 15 


907 i-'.::-. 127 


k 1 ■■ 


2911.7 11 •_ 


-7.021 9,736 




k. Jan 


531,1153 . 


11.878 17,445 


. '. 1 ..1 12,545 


ember. 




11.756 3.11.1 


868 3,092,772 



WORKING STATEMENTS AS LAST REPORTED. 



512,5111 
165,16 1 

54,361 



Ritilroii.l. 



, 15 68,000 (0,000 

Ian. 14 — — 

, ll.K l-.l o. 11 — — 

10 'I. '.in 51 2811,26(1 277,766 



.,77.6.1 
5,128 
t 1. Hi.'. 

'in. ' 

1-1.561 
III, .,1,9 

9,1 

1,826 



Alabama Gt. Southern N 
117- July 1 to Not. 30 

155! Atch.Top. & Santa Fe . . D 
|l90 , July 1 t. Dec. 31 

i.ii Baltimore and Ohio.. I 
,865 J July 1 to Dec. 31 
'mi Canadian Northern .. I 
', i-.i July 1 to Dei 34 

600 Canadian Pacific N 

,.1,5 July 1 to 

' I'm Chesapeake and Ohio N 
July 1 to Not 56 

'-- Chicago Great West. .. 1 
,'nm July J to I'll- 31 

66 Denver A Rio Grande N 

';;■),. July 1 6, Nov. 36 

.,, Grand 1'runk of Canada: 
Main Line 5 

,516 July It" - 

, i|| Canada Miaul. ,- . . >• 



DetroitGr.Hv.A.Mil. No 

.lull I to N'oy. 30 
Total' for System .. No 



I iiiuisville A Nashville 5. 



27.781 



Jub 1 



v 



: 



782.279 

196,1199 

3,6611 



Minn. St. P A S.S.M 
July 1 to Nov 

Miss. Kan.i Texas . 
July 1 to Nov, : 

National of Mes 

July 1 to No\ in 
New York Out. A West 

July 1 in Nov : 

Phil, and Reading . . 

Jul) 1 i .1 

1 Iron 10. . . 



56 






.5 



total both «' 

.lull 1 I 

IMI . (id 1 6 A 81 



51 



1 .ii I Gt. 1,1. . 

In. y 1 I,, .' 

.".us .V Sail I'lati 

Jillv I to Nov : 
lliern Railway 
July 1 1., Is. , :: 



1,255,460 
s,. 1 16, nun 
9,11 1,238 

47,682.31 is 
2,771,400 

14,271, 116 
1.616,171 
6,584,735 
2,210,052 

11,6,12,218 

i'61 1,3116 

5,6:15,6.16 

36,3611 

173,7611 

1I-, III 16 

561,760 
178,16.1 

790,100 
3,949,100 
$4,871,173 
23,173,174 

1,269,892 
6,161,760 
1,971, ■; 

13, 127, 7. ,7 

:..2l7,:l62 

26. :,7 5 5.11 

760,571 



31,433,977 
185,079 

1,11.628 
1,1133.1188 

5,133,221 
11 '",1 1,356 
H, .nn.nl,: 
12,478,065 

J.IS..I97 



1,1611,5116 
I), 7811,460 

9,075,964 
11,710,754 
2,657,437 
13,149,265 
887,517 
I,, 926, 2.11 
2,117,656 

10,555,446 

£609,300 
3,043,800 

42,900 
193,2 10 

101,2116 
531,400 
35,500 

176, .-(» 1 

788,9611 
3,91.., 21 16 

8 I, .'in. 697 

'. 1. li". 11 I 

7,547 ?08 

2,15 1,1 13 

' . . 



3,197,718 
7,151.631 



36.: 



083 

227 

18,120,167 

1II.SI6.II6., 

,29,40 

12.5-1,-9.1 



13,565,137 

359,200 

2,491,1)00 
3,737,122 

135,1 , 

,1187,789 
28.8,1)1111 

1,854,548 

6-1.997 
3,434,047 

£133,400 

839,1611 

7,8100 

19,6511 

10,100 

I I 

13,660 
34,1611 
164,900 

1171,866 

$1,627,769 

7,176,288 
150,190 
2,350,8 14 
I 132,455 
I, Ills, 511 
2,265,967 

18 4,238 
1,393,955 

8,209,336 
2S2,1I31 

' : 

-.is 

,478,453 

198,212 

7,386, i'25 

105,609 

1,174,318 
6,001,334 

I.- •-. ..21. 

4,1161.211 

19,052,076 

76 1,112 

1,249,511 



1.1-5- 



15,162,783 
334,400 

2,1118,66(1 
3, 692, 31 18 
16,954,454 

1,(K2,026 

is., ,266 
l,736,'.li;i 

, In. II 1 

£155,400 

13,500 

52. s. Ill 

111,206 

16,266 

14,750 
199,600 

$1,836,465 

8,71)2,825 
822,525 

3,658,262 
722,451 

1,879.881 

193,554 
1,181,927 
1,617. 15s 
8,747,517 

233,915 

,27n 

1,851,353 
3,2.13,617 

811,6118 

-',3.9,791 

00,115 

171.709 

1189,6211 
5,419,681 
:,758,:tll7 
16,127,014 
1.2.11,116 
21,266,937 

836,371 
1,846,563 



lllrllldlli ■ 



' including I in 1. in \l 1 an 1 , Including M- vn-ao Southi 



February iS, ton, 



Till R \M.\\ \Y TIMES. 



161 



THE 

EXPRESS 
ROUTE 

Between LONDON (Waterloo Station) and the 
SOUTH AND 

WEST OF ENGLAND 



r BREAKFAST. 

luncheon & uinin:; 

SALOONS 

ta princip.il Trains to which 

v levelling any 

access without 

extra charge, except cost of 

meals. . 



London iSouth Western Rail waij 



SWAHNfc 



OF U ICH / ■ " \UTH- 

PORTSMOUTH JW.1 MOUTH. 

OLBNT. BXl 

SWA V ICE. B.\ MOUTH. 

BOURNEMOUTH. LYMl 



BIDEFORD 
/• IDSTOH'. 



L* S. W. R. 



PARIS 



ia Sontlui 
AND 
THE 



CONTINENT. 



comfortable and convenien: for 

■ — Twin-screw Steamers — Com 
1 en Boat and Train at Havre i 



SOUTH WESTERN 
HOTEL, 

Southampton- 
joins Station Platforr 
and faces the Docks. 



FAST STI AMSHIP SERVICES 

on alternate Week-days 
b 3 tween SOUTHAMPTON anJ 

St. Malo lor 

BRITTANY. 



Climate 
Dryly Invigorating 






w 



*fc. ? 





BROWN BAYLEYS STEEL WORKS, Ltd 



SHEFFIELD. 



Manufacturers of Steel by the "SIEMENS" &" BESSEMER " Processes, 

Makers of TYRES, AXLES, and SPRINGS, for 

RAILWAY LOCOMOTIVES, CARRIAGES, and WAGONS, and also for ELECTRIC CARS. 

S PECIAL GUARANTEED SPRING STEEL. 

SPECIAL STEEL BLOOMS, BILLETS & SLABS. 



London Office— Suffolk House, 5, Laurence Pountney Hill, Cannon Street, E.C. 



THOMAS TURTON & SONS, L 
Sheaf Works, SHEFFIELD. 



LONDON: 

90. CANNON STREET, 
CITY. 



Spring Steel, 

Cast Steel Forgings, 

Picks, Hammers, Tools, 

CAST STEEL FILES. 
RAILWAY SPRINGS & BUFFERS. 



THE RAILWAY TIMES. 




[February 18, 191 1. 



SIGNALS m I -llil SNOW mi... SIAIION. 
GREAT WESTERN RAILWAY BIRMINGHAM. 



METALLIC 



PACKING 

FOR LOCOMOTIVES. 

Increases power by Decreasing friction. 



UNITED STATES 
METALLIC PACKING 

AND 

KENRICK'S 
METALLIC PACKING 

Used all over the World. 

Un ted States Metallic Pecking Co., Ltd. 

BRAD7CRD, Englard. 

Lond n 110, FENCHLUCH STREET. E.C. 



ELECTRIC POWER 
SIGNALLING. 

PRIMARY BATTERY 
SIGNAL MACHINES 

FOR 

Automatic Signalling. 

BLOCK, AND 
LOCK & BLOCK INSTRUMENTS 

Operated by Battery or Magneto 



SIEMENS BROTHERS & Go. Ltd. 

Railway Signalling Dept., 
Caxton House, Westminster, LONDON, S.W. 



Davis Burrow & Sons 



BRUSH MANUFACTURERS, 



fePDS 




Contractors to the Railway Companies. 
Our Home Railways : 

How they Began, and How they are Worked. 
By W. J. GORDON. 

In 2 Volumes, medium 8vo, with Full Indexes, etc.. and Illus- 
trated with 36 unique Coloured Plates, 50 Full-page Engravings, 
and upwards of 250 smaller ones from the latest photographs, 
many of which have been specially taken lor the work. 
(Style I : Elegantly bound in cloth gilt, gilt top, each 6s. net.) 
Style II : Handsomely bound in half-morocco, extra, gilt 
top, each 10s. net) 

F. WARNE & CO., 

CHAXDOS HOUSE. Bedford Street. Strand. London. 
. ,, " WARNE, LONDON." Telephone No 2208 GERBABD 



February 18, 191 i.] 

COMPANY NOTICES. 

London and South Western Railway 
Company. 



■ N^ r iSSKD \| 1 ill 11 U 
\i mi 11 1\.. ..s n;ih w 1 

rpn \ 1 the R porl ol tl 
I 

v hi mi the 

\ 

\ 

- 

M 

iny, 

VII \ 

I 
intent. 



THE RAILWAY TIMES. 



[63 



TENDERS INVITED. 



India Office. — London. 



m L a, j. n a— 1 t> 31 ai 'rill Secretari i li.i in 

The Great Central Railway Company. 



'I M 1 1 G ral Railway < 'oinpany 

1 









- u 






Unte 

liiiii-iii- • 

lnroy. 

mil S 






Canadian Pacific Railway Company. 

DIVIDEND NOTICE. 
\ T .1 Meeting of the Board o' I 

innum from R 

- 
Tli.. Pre 

. 

VA1.1 I 

s 

I 1. 1911. 



East Indian Railway Company. 

NOTICE i- herehv iriven tl 
\ . 1," •■ 

I 

1911. 

- 
11th February., 1911. 



T\>\| \ \ I \ Applications a e invite 1 
for poi 

RaiU. 

ply in writing, ■■■ I 

mdor S v 



Bunt i ' 

I 
27. Hard* 






II . 






33. Iron 

:i l, 

37. Lent 

■ 



w G 

Great Northern Railway Company 
(Ireland). 

TIIK Directors are | 

1 



The D 









- 



Bi 






■ 






and 






Blooms 

I 
nil. 



110. * 

-II Ink 

; 27th. to Mi .: 

m . 2 p.m. 

- 

i 
1\. 31, ii 

■ ■ 

■ 

- 
to I"- m ■ 

1911. 

(II. H Kit S HO 
- 
v \\ 
) 13th. 1911. 

The Assam-Bengal Railway Company. 
Limited. 

Till'. mv I 



East Indian Railway. 

TM K E i-i 1 ti 1 1 ipan 

I 






South Indian Railway Company. 

THE South ltnli:i . Railway ' 

- 
i 
■ 

The English Association of the American 
Bond and Shareholders. Limited. 



T'q 



THE RAILWAY TIMES. 



[February 18, 1911. 



THE L ,sf KtK MES^KSOra 5 ^ *"""■"" 

BAHIA BLANCA AND NORTH WESTERN RAILWAY COMPANY, 



Uncorpoi 



rted under the Companies Acts 18 
SHARE CAPITAL. 



Guaranteed Stock J ... 

4 per cent. Guaranteed Stock 

200,000 Guaranteed Shares of £10 each ... ■■■ 

200,000 Guaranteed Sharts of £10 each (unissued) 



LTD. 

£1,350,000 
1,250,000 
2,000,000 
2,000,000 

£6.600,000 



DEBENTURE STOCK. 

4 per cent. First Debenture Stock issued ... _ •■• 

41 per cent. Second Debenture Stock (present issue) ■ ..»......„ ci««l. 

Issue of £1.000,000 Four and a half per cent. Second Debenture Stocx 

At £99 per cent., payable as follows : — 

£ 5 on Application. 

25 .. Allotment 

20 ,. 24th March. 1911. 

20 ,. 25th April, 1911. 

29 ,. 30th May, 1911. 

£99 per £100 Stock. 



£2,450,000 
£1,000,000 



The Sto-k will I- secured bj a Tn, I Deed, and h 

. , , ci m ■ th. "S«* 

,„;:;;:„, ;:,,:, 

y„r B4.000000, .,,,,1 a farther amount at tl, rate ol LtliUHpe le ot add, „, , , I 

i .i iiy, i new l""- lor the ,.. 

ik, n at £l.oi«i a mil, wl I doubled) in excess, 

of tie nul'-a ■.■ h, inirjifi'j to Ha i "I" rat ' 

The who] : ' ''■ emable at th, 

tei the 1st April 1930 at 110 pe it on 

not m th.' -ieel, i hot* i " - ' 

,, \ M e- ,,„1 l'.M.he Railwaj Company, limited. 
,,'„.' .,,,,, a, i ,„,] ,, .,.,,,.. , i I n-t Deben- 



u ,, and 

., Debenture 
of the Compa 

about to be 



all 

Stoi :. foi an 

n [oi Hi, t 

constructed in 

the 10th .lai,,. 

that date in 



lent. tO bi 

I'll l. tie Stock 1 g ' ransferable 



Bearer Sri ip will be issued, after allot 

, rtifii itc • ait.., li .Inn, 

■ ,,,,,, H. ' '" tin Ik gist I Holdi i ol the Stock 

1 | \., r i I i 1'ho first pat it ol Inti rest "t 

nl t i calculated upon th, 

h • m ,de mi :li»h 



■ as due, 



ill 






alio 






,1 tin I 
l OMI 1M 1-1 Mil ED h 

; ;., I. urn 

, - foi 



,, the due dat, ■ 

! u i.si lln RAILfl \Y 
Ion a lint Stock Bank, Limited, 

,,. ,,i ih, Companj . to ie ivi 

,,,| 1 Minn- Stock "I tl" Companj 

,il«ii, in the 

mth ,,t the I'.e. ' k 

,, ,,, Ie ol hi 



Ik. 



in 1 nil 
Stocks Hi 


■ 1 whirl 
1 dividen 








Compai 






2,392,943 3,083.541 

l,1»s.-j|p(i l,s92,r,42 2,tf«l.7&i 

. , , , £1,3 ,4,99(1 I I 



la-si tin i tie 
led llll il 

|, it :,- He 



I il 
,] I'll 






: ilwi ■ I 

' '" ■-■"" 

" 



ol lleveni In II" 

» is 
, ,. worked In tin Hit' 






I i lit I 1 ■ 

all of "lie- 









1,1-eeh 
t\ It, I 

" 'I'''! I' 



ill 








Il I II tl 


present 

Is OH 


1 







I 

, vd those , 
ito.l toward 



had crop 
tion from 



- C 

■ i 



lines i' present under construction, the purchase of Rolling Stock, and tha 
, hi i ..iii,-,ii - "i the Railway. 

in tie allotment a- jee.ii-ds 50 per cent, of this Issue will be 

. iiphe.it - ia, , u, a I, Ol the list train existing; 

, ,,.,,i stuck ami s Ii :, r, ■holder- "i tin (' pany, and to Preference Stock- 

holders and Ordiuarj Stool and Shareholders of the Buenos Ayres and Pacific 
pany, Limited 
■ ■on, on the form accompan; « ith the 

cent., -I Id be forwarded to the Ian, ion Joint Stock Bank, 

Limited, ... I'rinees Street, London, E.C., or to Martin's Bank, Limited, 08, 
Lombard Street, London, I. C. 

It no allotment is made the deposit will be returned without deduction. Should 
a smaller amount be allotted than applied for, the surplus paid on application 

]..,,,] 1 toward the balan e due on allotment. Non-payment of 

.on th, duo date will render the amount previously paid liable 



Apple 



in , , be made to obtn 



St", k l.\el ipiotatl, 



r, i, , ,■, Pott 57, Old Broad street, |; r th, B ol ei - 

tiie contracts made by the Company in the ordinary 

,;',,v\ i He have keen entered into within the two years immediately 

, i ,l ,ted J tl, Slav, 1" a and m ide between the Company and 

1- in Ih Ik '■■■ ,'. Potl I, rwritins in issue , 

sli m Foi i ■ ,mn whii 



Limited 
\ Conti 

in ,1 Uessi 



\ Li 



1 15th % -i 1910, and made 

lie- end L o Hie II , lie. :l\ I' piMIV, 

. and made between the Company 
L ,v Lot : for underw i itiu.a the present 

■ rata' of th,,.- pel , eut. on the i unt of -ml, issue. 

, ,,: tie C ",,. is . Milled poll t ■ vote for every 

in tin i 'int..i i. iii, c iiv held i.v him. 

Con may be 

i, Ofn, es of the So day while the Let remains 

il,, hours oi 10 a m and 

nt i In i.i t e ol :i in, rt, i i" i ■ nt will be paid b; ' ' 



Oil 11 il"' m ■■! I aiej :, Hi,,!,, i '- .Limp 

la ,- ,1 , iffii ►. Dai hwoOD Hoi si . 9, Nl « Broad Street, Londo E.i 

17th February, 1911 
Trustees It th- Four and a half net cent. Second Debetltur Stock. 

% , SOAME IUSTEN. PREMIER [NVESTMEN1 COMPANY, LIMITED. 

Directors. 

III. H S la'kl, s i i, v\ ids (CM 

PAGE1 L M'.sl.LY. EDWARD NORMAN. 

F. SMITHERS M. VAN RA/'.TE. 

THE LONDON JOINT STOCK BANK Limited, 5, I'm 'S Street I Ion, E.C. 

M \i,"i IN s B INK I imiti i I i ml Street i on Ion E.C. 

Bankers in Argentina 

THE ANGLO SOI III \M i:L w i; \\k i imited. 

Solicitors 

\s||lk's| UORRIS CRISP & CO 17, rluogmorton Avenue, London, E.C. 

Brokers. 

sill I'l'Mtl'- BELLI LLii i .. POTT, Old II 1 Street, London, E.O. 

Auditors. 
i i ill wl viae- ,. CO II, Coleman street, London, E.C. 
Secretary. 
F. SAND) i 



<-d. 



Bahia Blanca & North Weste-n Rai.way Company, Ltd. 

£1,000,000 4t per cent. Second Debenture Stock. 

To the Directors oi the 

11 \iii \ bUncadn l North Western Railway Company, Ltd. 



, 


k ■ 


the 





e 














- a 


111 




ion lo, 


1 










l* 


pe 


u 


at. 




oi the B 


MM B 






n \ 






1! 


I 


. W 




in l thai 


ik, n 


in 




ir 1, 


II, 


it,. 








1 1 






smaller 




nl 


that 




i„ 




to 




■ L 




til 1 


hi 




I'n 












l,,l 






II 


le 






F 


lunar 




1911. 




nd " or 




tin 


ive 




iptu 




ml li 


tl 




,- 



,,,, ,.,„,„ .. t„ I,', I „, , an. M ttdid I" I'M K LONDON JOINT STOCK 

,:nk i linn L ■ L - Street Loin I C . or MARTIN'S HANK, 

1 [J 8, l.",„l 1 sire, I, London. L C. 



She (Jkilttrag 8C intes 

A Journal of Finance, Construction, and Operation. 



Vol. XCIX. 



- VI URDAY, l EBRU VRY i8, [911. 



No. 



PRINCIPAL CONTENTS. 



Kul- 



M 



Rail* l; 
Great N<>i them Railwaj 






R ulway .... 
■ 



THE RAILWAY TIMES. 



Established In 1837. 

PUBLISHED EVERY SATURDAY. 

Annual Subscription post free . 25 Shi 



irs. 



N. ill 

All communications for the follow ini; Issue should be received not 
later than 6 p.m. on I l 

New advertisements or changes in copy for the inside paces must be 
received not later than 6 p.m on Friday. Advertisements for the 
cover must be received by noon on Thin 

Advertisements of which'proof is desired should reach us by the 
second post on Wednesday 

Money Orders. Cheques, etc.. should be drawn in favour of 
THE RAILWAY TIMES, and should be crossed "National Bank " 

Telegraphic Address : "Altlmetry, London.' telephone No.: :')i~< Gerrard. 
Oflieca: 12 Norfolk Street, London W C. 



Founc'ed 1871. I Mt 

OCEAN 

Jlccifront axxb (Guarantee g g 
=:--== (Sorporaiion, jjmitefr. 

Assets exceed - £2,000,000 

Claims paid over . £8,750,000 

Accident Insurance o f all hinds. 
Fire. Bunjliini. Fidelity Guarantees. 

Tramway I nsurance. Li< 

Insurance and Inspection of Boi: 

Cranes, Emir-. . t '' ■ // Plant. &c. 



lLv.ii> Office: M(H)R(,\lr STREET, L0\D0\. 

i 



THE RAILWAY REVIVAL. 

\ •■ mon striking change in the 

experienced in the Home Railway Markel durii 

i week Foi thi 
hi quotations ha - been di >\\ nwards and 1 
most to vanishinj 
recently as lasl Friday the i to be quite 

stagnant. <>.i Saturday lasl then revival, 

on Monday last the market b 

itv. with advani 
with slight reactions 

ich attention from the public 
for quil The Railway Times in tl 

two o] has persistently ] »inted out the im 

in ilif intrinsic position of the railways and the 
justification which was provided i 

lilway 

to the 

lividends fi i 
coupled with thi 

the recent half-yearly meetings. The dividei 
only, <m tin 
bui transfers to resei 

railwa; 

in favour "I further 
and dividends. Peril 
most powerful in producing a change in the i 
market has 
on thi 

< luring the present wei 
that level, and of course tin 

furthi 

that tl 

Not only 

ami i s 
but ' 
t-iit n< ! 

1> ith 



1 66 



THE RAILWAY TIMES. 



[February 18, 1911. 



unanimous opinion seems to be that the recovery in Home 
Rails, so long delayed, will now continue for some time. 

RAILWAYS IN LONDON. 

The third annual report of the London Traffic Branch 
of the Board "1 Trade contains a great amount of informa- 
tion in regard to means of local communication in the 
metropolitan area, and railways receive a large share oi 
attention. So vast is the volume of all kinds of traffic in 
London, and so rapidly is it growing, that the need for the 
appi lintment 1 if a permanent Traffic Hoard, as recommended 
by the Royal Commission, is ever becoming more urgent. 
The present report brings the record of the principal facts 
down t<> the end ol 1909, and also gives some particulars 
for the year 1910. Much space is devoted to the results 
of a special inquiry as to the sufficiency of the arterial 
roads leading into I ondon ami the construction of various 
new roads at greaf cosi i- recommended. In regard to 
railways, however, we have the striking fai t that tin loi al 
railway companies in 1909 carried no fewer than piof 
millions ol passengers, a- 1 ompared \\ itli nearly 400 millions 
in [908 and 356 millions in too;. When passengers 

I irried by tramways and omnibuses are included, the total 

■ lit 1. 4011 millions, the number of journeys per head 
of tie- population being 189. In 1903, it was only 14;. 
The figures do not include the suburban passengers on tin' 
trunk railways, so that they arc all tin- more striking. 
The report urges the necessity ol the provision ol traffic 
facilities keeping pace with the demand, so that the out- 
ward movement of the population towards the suburbs 
ami beyond may not be checked. This movemenf is all 

1 ui 01 ile railways rather than tramways or omni- 

which naturally cater mostly for short 1 Tieys. 

The report, however, says that there 1-, little indication 
at present ol revival oi activity in railway construction. 
aie given oi new railway works completed in 
1909, ami it appeals that at the close ol thai wear the 
total length of railways open foi passengei tratiu in Greater 
London was 668.4 route miles, and the number of stations 
was 612. Among the numerous subjects on which in 
formation is given ate improvements ami changes in the 
working ol Loudon railways during the yeai , the elei ti ifica 
tion ol steam railways, the decrease (now at a diminishii ;. 

of suburban passengers on the trunk railways owing 
to tramway ami omnibus competition, the numbers ol 
passenger- mi the different local lines, etc. In regard to 
railway electrification, the interesting Put is disclosed 
that the .dei trilled South London hue oi the Brighton 
Railway Company carried during the Inst six months of 
1:910, [,743,160 passengers, an increase ol no less than 
1,785,031, "i nearly 100 per cenl . as compared with the 
first half ol 1909, when the railway was worked by steam. 
The case is, indeed, a very sinking one. In the view oi 
tin I raffii Brani h of the Hoard oi Trade, the main question 
lor railway companies to consider regarding electrification 
1- whether the advantages in any particular case are such 

warrant the expense [Tie enormous advantage? to 
the public from electrification are. however, forcibly 
pointed out , The whole report is a mine ol information in 

1 to London ti ami m all its branches, and a ( opy o| 

II should be in the hand-, oi everyone active!) concerned 
in the subject. It brings the information 111 the report oi 
the Royal I ommission well down to date. The more one 
1 ..aiiiihi it, however, the more one is lost in amazement 

at the refusal ol tin .111 an to constitute a permanent 

Traffii I'.oard. as proposed by the Royal Commission. 
In co-ordinate, to regulate, to as M st and advise as to new 

nes, to do a great variety ol things which are urgently 
try but which at pre ent there is iin].od\ to do 
there is, in fact, endless useful work for such a Board, and 
aei 11 1, appointed the better. It is intolerable thai 
a. departure so ' learh required in the interest ol the whole 
ol tin population ol I ondon should longi 1 be delayi I b\ 
the exigencies 1 >f p.u ty pi hi n - 



RULE 55. 

This rule in the standard book of rules and regulations 
adopted by all the railways of the United Kingdom has 
been very much in evidence of late owing to three of the 
lour fatal railway accidents of the last three months 
having been, in part, due to the non-observance of the 
rule. The standard rule book consists of 280 rules under 
28 different headings or subjects. These latter cover 
various aspects in railway working such as " shunting 
signals," " working of points and signals," " station yard 
working," etc. Rule 55 comes under the title " Detention 
at Home or Starting Signals." The whole section of the 
rule book relates to Rule 55, which is divided into eight 
uli headings. Its importance may then be judged by its 
title and length, and its purpose is to govern the action of 
trainmen whose trams may he -topped at signals, the 
principal intention being to guard against such a train 
being forgotten by the signalmen. One reason for the 
unusual length ol the rule is that, in accordance with the 
carefulness with which all these rules are drafted, there are 
instructions given as to which ol the trainmen is to take 
action under the various conditions which arise, i.e., 
when a passenger tram litis only one guard the fireman 
must go to the box, leaving the guard in charge of the 
tram. Il it be a goods tram with only one guard, then 
the fireman must go to the box if the train is stopped at a 
home signal, but il stopped .it a starting signal then the 
guard must go, and so on. The history ol this rule begins 
with an accident which occurred at Norton Fitzwarren, 
on the Great Western, in November [890, when a signal- 
man, -hunted a train from the down to the up main line 
to allow a more important down tram to pass, and then, 
forgetful ol the tram standing on the up line, he lowered 
his signal- foi an up spei lal express passenger train, and a 
,erious accident occurred. The Rule Hook Committee oi 
Passenger Superintendents' ( onference a1 the Railway 
< learing House then took the subject in hand, and had 
-i, meetings before the} decided what should be done to 
guard against a tram being forgotten, and the result oi their 
labours is -ecu in the present rule. There is one unsatis- 
factory feature about the regulation as drafted— and its 
w ea km'-.- wa- recognised b\ the Committee - which is that 
it is riot laid down how long the tram may wait at the 
signal before the fireman or guard goes to the signal-box. 
["he point was debated very thoroughly by the Committee, 
who eventually agreed to make the rule read "it -till 
detained," but this i-, oi course, very indefinite and not in 
accordance with the strict working adopted in most rules. 

Ihis point was raised in j by I olonel Yorke in his 

iipoit on a collision at Stourbridge Junction on the Great 
Western Railway. The fireman said that he knew the 
rule, but thought that he had five minutes grace, and the 
Board oi Trade Inspector pointed out how indefinite the 
rule was. The latter said, further, that the practice of 
-eliding the In 11 1 1.1 1 1 or guard to the signal-box was open 
to mam - objections. The point is now under consideration 
by the Board of Trade, a- was stated by Mr. Buxton in the 
House ol 1 ommons this week, and in view of the recent 
ao idents in which the men have failed to work to the rule, 
even under the widest interpretation possible, some altera- 
tion will no doubt ultimately be made. 

Rhondda and Swansea Bay Railway. I In report for the half- 
year ended December 31 states that after payment of interest 
on the debenture stock and the full dividend on the [.reference 
shares, there is payable on the ordinary spare capital the 
dividend al the rate oi 5 per cent, per annum, secured to the 
shareholders undei the agreement with the Great Western 

Railway Company, and th< directors re imend payment of 

• uch dividend accordingly, leasing a balance carried forward of 
/"au Various Bills affecting the company's interests h.we 
been deposited in Parliament, and they are having the careful 
attention ol tin directors. 



February 18, 1911.] 



THE RAII.W \Y TIMI S. 






MONEY AND STOCK 
MARKETS. 



SETTI ! Mi N 1 1HTES. 

Consols : — Wednesday, March t. 



Continuati' 

Mines Feb. 2 

■General ,, -2 

Mar. 

General ,, 

j 

General 



I Mar. 10 



Mines I 

-• ; 

Mar. 8 

General 9 

Mines 22 

ral 

On usual comparison ol the present position <>t the 
IBank of England, the Mon-.y Market thi 1 

iili the position Ia9t Thursday and at the 
•corresponding period • >! !asl year is given below. 



Mar. j.( 









Week 










Bank's Coin and Bullion 






85.17' 




■ i j28 


■ IO,857 




•Proportion 01 




125.545 


53} percent. 


5^ per cent. 


Notes in Circulation 






3} pei 


4 P el 




Open Market Discount 


1 cent. 


r cent. 




Bankers' Clearing House 


- 1 .000 


I.S.OOO 


1 10,000 


Silver bai 






2 |<1. 










French 3 per cent, (ace.) 






oSf. 


Paris Cheque ev 




29c. 




New York 00 days ditto 








Rio de Janeiro exchange 








Valparaiso go-day exch'e 








Calcutta transfers . . . . 


is. 1 






.Hong Kong transfers . . 








Shanghai transfers . . . . 


2S. | 


i' 1 - 




" Bank Rate. 


'.I 


er cent. Apr. 14 


1SC9- 4 per ce 


it. Mai 


6 per cent.. Jan. 2. 1908. 




Oct. 7 


1909. 


.. 


June 1, 1910 


4 ,. ., Jan. 16. 1908. 


4 


.. .. Oct. 14 


1909. 




, June 


5 .. .. Jan 


5 


.. 


1909- 




Sepi 


3i .. ., Mar. 5. 1908. 


.4j 


.. 


1909- 






3 ii .. Mar. 19. 1908. 


4 


.. ,. Jan. 5 
.. .. Jan. 19 


1910- 




- 


.24 >. 


31 


1910- 


4 


Jan 


Jan. 14, 1909. 







. 





The Din gland sufficiently mani- 

fested their predilection for maintaining rates when they 
kept the Bank Rate a1 4 per cent, last week. <>n this 
n, tin- market rate having fallen to 2 [5-16 or less, 
there was no object in retaining the higher figure, 

Fficial minimum has been reduced to 3} per 

>J the market towards lower rates 
>r.c_\ is due parti) to tl ' leal ol 

■1 money now temporaril) employed here, and also 
to the release <>t money b) thi rreasur) in the applica- 
tion ol sinking funds. The last influence is likel) - 

>unterbalanced, and more than counterbalanced, bj 
the ingathering ol taxes. This week the additi 
Public Deposits lias been ,£.-'.< « 15,1 " « >, in spile ol [Yi 
bills repaid, and Other Deposits an ^488,000 lower, 
although a Other S show s 

that tin - "I the market have been added to. The 

change in Government Securities is trifling. Gold was 
taken from the Bank f< the amount ol A : 

on balance, but this was counteracted to some extent !>% 

which 
brought in ^465,000, while the notes in active 1 irculation 
was also reduced by ^371,000. In the result the Reserve 
was higher, being £500,000 above the level of last week, 

and oxer three-quarters of a million above that of the 

corresponding date in last year, when the Bank Rate was 
3 per cent. On the Other hand, the amount ol ' 
Deposits is nearly three millions less, and there can be 
little doubt that either 'he join! stock banks are working 
on narrower margins or they have added to theii separate 
nounts larger than is commonly suspi 

became rat hen the change in the Bank 

Rate was announced, but the Continental ex. 
moved against London and stiffened. (m the 

I \. hanee no infl It had 



hat 1 1 cducti< >n in the < Lmum 

and its realisation atti a< ted 
little attention, all the mine because the colic, tion ol 
is bound t< 1 s. mi the market to exl month. 

I he w eek has In en 0111 ■ 

taking. Home rails have now risen t<> a point at which 
the in. idends paid for the year ju 

cd in the redui I d to the buj ei . In 

former nn.is the investing public have been rea< 
impute til the railways such a further in< • 11111114 

it_\ as the growing volume ol trade would 

unity for ; and • 

as much again. But in this case invi 
have learnt much in the school ol adversity, and know- 
that in these times the 'bailees ol slip between th 
and their lip 
w as mm h overdue, 
ol false starts that thi re are a numbi ilators 

extant win well nme the Opportunity to pill an end to the 
drain ol high contangoes, and ail the 

abilit) to terminate favourabh a commitment which had 
; .1 si mi. c 1 1| many anxious moments. 1 1 

ens; to find a slight reaction in 1 
rails a distinguishing feature 1 
There is, however, no reason to fear that thi 
an end. It is unlikely that am spectacular display will' 

keep pace w Lth ad 

Last Saturday the . i- rails was rcmarl 

di mand, w bile some of the 

s had allowed themselves to rui 

American and Canadian railv dull, but 

inquin was made lor Cuban zilian rails. 

! on Mi same 

d to prevail, except that Yankees 

ibsolutel) quiescent as the Wall Street market 

hemained closed. Business in Home railways, 

a \ er\ largi I 1 la\ and \\ ■ 

a change announced in steamboat sailin 

i-.asterns down 1. Yank ■ dull and 

irregular on the 
said to be in preparation, and these conditii 

pronounced the following day, when Home rails, 
' inadian and South Ac 
railways, were all off colour. 

On l-rida\ the dispute which bad arisen bi 
Russia and China <>\ cr the rights 
treat) was seized upon as a suitabh 

to w hicli the markets 

weak opening, however, during which hardly am 

siock quoted escaped 1 decline, mon views 

began to make themselves felt, and prii 1 

abl\ above tin- worst. \mong Home rail si 

that suffered most were the Southern passenger lines. 
North-Westerns and Midland Deferred act 

very flat, but impro\ ed on th 

lower, and the Argent in j dull. 

The principal movements on the week are as follow : — 
Name of Stock. Rise. Fall. Name of Stock. Ris 
British Funds. London I 

Consols, 2i per cent. — .. ', 

Do. (. it. — .. I 

Barry Deferred .... 1 xd — 

Caledonian i 

' it- 1. 1 \ . . — 

>ef. Con. Ord. 

Centr 1 . . . 2 xd — 

. . . . 2 X'l — - 

1 2$ xd — 

J . . — 

atral Pref. 

. . — 
Gt.Nthr — .. — 

Mull 

LancashircA Yorkshire 1 



Do. Deferred .... 
London Chat. & Dover 1 . . — 
London & N. V . . — 

London & S. v. 

Do. D r • • — 

1 

. . — 

•1 

North Bril 

■ 

1 . . — 

- 
- 

— • • i 



THE RAILWAY TIMES. 



[February 18, 1911. 



Name of Stock. Rise. Fal . 

GrandTrunk of Canada — . . .1 

Do. 4 p.c. Guaranteed — . . — 

Do. ist Preference i . . — 

Do. 2nd Preference \ . . ■ — 

Do. 3rd Preference — . . J 

American Railways. 

Atchison Common . . — . . 2j 

Baltimore and Ohio. . — ..2 

Chesapeake and Ohio ■ — • . . \ 

Chicago Gt. Western — . . 2 

Chicago Mil. & S. Paul — xd 3 J 

Denver & Rio Grande — • .. 1 

Do. Preferred .... — . . i 

Erie Common — .. ij 

Do. ist Preference — . . 2 

Do. 2nd Preference — . . 1 

Illinois Central .... ■ — . . 1 

Louisville & Nashville — . . 2h 

Missouri Kans.&Texas — .. 2I 

New York Central . . — . . 3 

N.Y., Ont. & Western — ..I 

Norfolk & Western .. — .. iA 

Do. Preferred .... — . . — 

Pennsylvania — xd :,' 

Reading Common . . — . . 2 \ 

Southern Pacific Com. ■ — .. z\ 

Southern Common .. — .. i| 

Do. Preferred — ..it 



Name of Stock. 
Union Pacific .... 

Do. Preferred . . 
Wabash 

Do. Preferred . . 



Rise. Fall. 
. - ■• 31 



U.S. Steel Corp. Com. — 
Do. 7 p.c. Cum.Pref. — 

Foreign Railw lys. 
Antofagasta Def. Ord. — 
Argentine Gt. Western — 
BuenosAyres & Pacific — 
BuenosAyres Gt.Sthrn. — 
Buenos AyresWestern 1 
Central Argentine . . — ■ 

Do. Deferred .... — 
Cent.Uruguay of Mont. — ■ 
Cordoba&Ros.istPref. 1 
Cordoba Cent, ist Pref.— 

Costa Rica — 

Cuban Central .... — 

Leopoldina 1 A 

Mexican Southern . . — 
Mexican Ordinary . . \ 

Do. ist Pref., 8 p.c. — 

Do. 2nd Pref., C p.c. i 
Nitrate Ordinary .... — 

Do. Deferred .... — 
Ottoman(Smyrna to Aidin- 



NEW ISSUE. 

Bahia Blanca and North Western Railway. 

The list is now open for subscription for an issue 01 x_. 1 ,000 

4! percent. nd debenture stock ol the Bahia Blanoa and 

North Western Railway Co.', Ltd., at the price ol 99 pea 
cent. Ii is redeemable "al tin company's option al am time 
after \pril 1. 1930, at no pel cent, In addition to 722 miles 
lwa\ in 1I1. \rgentine Republic, the company have over 
50 miles ol branch lines under construe lion. The line i- worked 
by the Bin nos Ayn - and Pa) ifi. Railw,a> Co., I td., 
which is entitled to the gross receipts ol thi undertaking in 

: ii i I a guai antei ol this ipany's • I' I ^ nt nn- 

m<i di\ idi nds on 1 In gum anteed -. I 1 shares. 
Tjhe net receipts, which ar« rapidh increasing, were, for 
■-,,. The annua] -inn 1. quired to meet the 
interest on thi prese.n1 issui i- ^45,000, while the balance of 
. ol tin Inn ' Pacific C 1 impair al June 30 

last, after meeting .ill dehentun interest .ml guaranteed 
charges, was X 7 I s - ' "•■ ' '" stock appears an it tractive one, 
,.m. I lull particulars .is to the issue will be found In our 



Weekly Traffic Summary. 

The traffic receipts for the week ended February 12, as- 
officially published by the fifty-two principal railways of 
the United Kingdom, amounted to £2,012,0,35, which was 
earned on 21.543 miles, being at the rate of £0 ; Ms. Xd. 
per mile of line open. For the corresponding week of 1910, 
the receipts of the same lines amounted to £1,945,472 
with 21,468 miles open, or £90 12s. 3d. per mile. There 
was thus an increase of £67,363 in the receipts, an increase 
of 75 in the mileage, and an increase of £2 16s. 3d. in the 
receipts per mile. Thirty-six of the returns distinguish 
between the receipts from passenger and goods traffic, 
and tlie^e show an increase of {'12,122 (or 9s. Sd. per 
mile) in the passenger receipts, and an increase of £51,906 
(or £2 lis. 41I. per mile) in the receipts from goods traffic. 
The aggregate increase of the thirty-six railways for six 
in the passenger receipts has been £129,828, while 
the aggregate increase in tile goods traffic was £322, 223, 
["he aggregate receipts of the fifty-two railways for six 
weeks ( January 1 to February 12) amounted to £11,829,828. 
in comparison with £11,369,621 in the corresponding 
period of last year an increase of (400,207. 

C.P. CONSTRUCTION PROGRAMME. 

The programme oi the Canadian Pacific in Western Canada 
for on 1 , as announced tn the vice-president, Mr. William Whyte, 
in Winnipeg, on his return from Montreal, includi - theconstruc- 

;So miles of ten new branch lines and thi buildingoi to 
mill s oi double tra< k. Among the other items ol the programme 
arc iln following Addition of 4*. miles to existing sidings, to 
make room for the longer trains drawn by mogul engines; 
enlargement, l>\ one-third, of the Winnipeg shops of the com- 
pnnvj to provide facilities for the handling of locomotives and 
,.11-; laying ol 851b. steel on the old M. and N.-W., which is 
to 1" .1 portion of the new main line to Edmonton; establish- 
ment "i rock-e rushing plants in British Columbia and the rock- 
hallasting of hundreds of miles of roadbed, to prote 1 I it ig linst 
thi effects oi heav\ rains; proposed extension of Granville 
Streel through the'existing depot in Vancouver cit> and the 
construction of a jetty to accommodate threi Paeifh steamers, 

ensive improvements on False Creek and Burrard Ink 
establishment ol th, graviu svstem foi the distribution 
al 1I1.. Fort \\ illiam term'inals in place ..I the poling yard; 
replacing ..I existing steel bridges \\ iili heavier ones capable of 

earning the largesl lo mtives ; and the establishment ol new 

railway-yard- at Mi lii ine I lat, Moose Jaw , and R. . 

Rnilwav contractors are making strong representations to 

th, (invcrniiK-nt at Ottaw; thi subject ..I thi immigration 

regulations, and are urging the Government not to imposi 
new restrictions until railwa\ construction in the West is corn- 



DIVIDEND ANNOUNCEMENTS. 

( '. 1, ,.,1 1 ". 1 1 1 11. Keswick and I'f.xk itu Rail \v.\y. — Al tin rate 
oi ; per ci nt. i" 1 annum on the 1 unsolidalcd ordin 

pi 1 annum foi tin coi p< 1 iod 

ii 
i ,1 1 ,i 1 1 ■- 1 1 1, R \n v 11 ( \ii 11.1 \- 1 . \\ 11 .. >',. I he direi toi s 
M divide nd foi the half-yi ar endi d Dei embi 1 

. pel cent, pi 1 inn, frei ol in. mm - 

ago. 
1 p iin Railway Dividend.- Al .1 mi 1 ting "1 the 

]„,.-,rd hi 1,1 in Mi mo al on Monday, dividi ml- oi 2 pe 1 cent, on 

. If- . Ii .1 Dei mill,, r ,1, and 

1 tin quarli 
! , in' si! 7 pei ,.ni, pel annum In mi 

revenue, and , pei cent pei .,,. from interest on the pro- 

I, on \pril 1 
, • .pen-, -, fixed , barges, and 
■ in, half-yi ar 1 I 



pleted. 



BANK RETURN. 



The return of the Bank of England for 
Wednesday, February 15, compared with th; 
week, shows the following chang 



the week ended 
t ;. r the pre \ ious 



,l,|-n,'o., 

i;is.;.ni 



Liabilities. 

1;. n . 

Public 1 'epofiita , 

oil, 



; Hay Bills 



1 1,111:1,121 liuvt. - 

ml,,, d,,. 
,n 1 ■-..,. - 

l.ljil.'.l'.li; Hold and SilVI r 



11,746,4011 

Jl.T.-.I.-Je! 



ll.'.H I. - ,, I'll 

js, .Jill, .1,11 

27,547,1120 

912,937 



13,751,475 

II, .'!■".- o 



i.nsii.-j-i; 
181,285 



Liverpool Overhead Railway. arl report states that 

■,. nui receipt I, , . - amounted 1,, ' ;8, 1 -4 ;nnl 

erest, then is, in, hiding 

hi fom ard, an a\ nil. ,1,1, balan, ; 1, out 

n< , fund, and a di\ id ml 

ire s, leaving 





ISSfE DEPARTMENT. 




Increase. 


Decrease. 


£ 


£ 


£ 
'.. • 1)4,751 

26,92 1,545 


£ 

HO.lOn 

1, , :, ,,:,,!. 


£ 




\„t,s 1-n. ,1 . 

27,297,140 


,1 95 



Kansas Ralhvaj Bonds. In reference to the 

1 nt .11 bonds of the Kai 



.1 ; 



n largeh 



ilars oi v\ lii, h u ere advertise 
that w in n the list was < I, 
-sails, rili, ,|. 



issue of $ 
Southern Railway 
,1 in our last issue, 
se.l the issue was- 



February 18, 191 1.] 



THE RAILWAY TIMES. 



1 








-1 


(Fri ) 




-1 






-1 






27 


(M011.) 









MEETINGS AND REPORTS. 



FORTHCOMING MEETINGS. 
Feb. ji (Tues.). — Bengal-Nagpur Railwa] linary), Win- 

Wint i- hapel and Bow Railway H 
■ 
{.). — Alberta Railway and Irrigation 
Win, hi I I -. at [2 

Maryport and Carlisle Railway I 

j port, at 1 2. 
1 (Thurs.). — English Association ot American Bond and Share 

Holders \ er House, E.I 

at 1-'. 
Midland and South Western Junction Railway 

Hotel 

Ross and Monmouth Railway ■ 

iFri ).— Cambrian Railways lHalf-j arly), I 

i Furness Railway 1 tali yearly), [4, 

.it 12. 
ial Meeting. 
Neath and Brecon Railway (Half-yearly), 

I'll. 11 
Tralee and Fenit Railway (Half-yearl 

' M5- 
Vale ot Rheidol Light Railway (Hall yearly), 
W., at 1-'. 
— Budleigh Salterton Railway I 1 . Water- 

Followed by 
Wharni lifie Mi 
Alabama, New Orleans, Texas, and Pacitie 
Junction Railways (Annua 
: E.C., al 1 
Isle oi Wight Railway Half-yearl) 
minsl 
(Tues.). —Metropolitan Railway ot Constantinople 

March 1 (Wed. Buffalo and Lake Huron Railway ' Mali 

• I 1 ' I Lt 12. 

March 28 (Tues ).— Ottoman Railway (Half-yearly), \\"n 
E.C., at 12. 

Reports, Traffic Returns. I'i 

intelligence should be sent as 1 ■ 

The Railway Times, 12, Norfolk Street, London, W.C. 
•hie address, Altimeli 

Alabama, New Orleans rexas, and Pacific Railways, i annual 

states that ll to I (ecember 

1 Eastern Railroad, 

Vlabama and Vicksburg Railway, ;£. 22,245 ; Vicks- 

ind Shreveporl and Pacific Railway, ^"37,918; South 

\\ estern < 'onstruction, ^"4,377 ; interest on deposit accounts and 

sundry investments, £ ; £204,848. From this 

amount deduci penses, £4, (58; income-tax, £.11, 195 ! 

interest on A. B, and C debenti ier cent., £1 

sinking fund to extinguish discount on debentures, etc;, X 4''""' • 

leaving roughl forward, £"4,895, which 

ioi, out of \\ hich the dir 1 
mend a dividend of 9s. per share on ti. \ shares, less 

tax, amounti ried forward 

Midland and South Western Junction Railway, I 

nditurc on 1 
1 show • 

- ^53i944, in increasi iditurc 

there is included in this 
liture the su tlemenl of tl 

manenl wa\ revenue sus 
chargi 1 mm in the correspondit 

• 
merit. The 

and after making provision for rents, 
rentn I 

si 1 m H non-cumul 
■ 
on loan, tin n 

1 'iitr.it ion up 
matters in dispute under 1 
and t 

and the directors at ■ 
iched. 



GREAT WESTERN RAILWAY. 



1 IV. 1 

the Vjscounl Churchill, G.C.V.O 
ling 

I ' ! \ I I : ■ 

I tit virman said 
to the 
to you 

we last met, namely, thi 
Winterstoke. As you all knov 
Lord ( 'awdoi r< sig 

liis appuintmi Lord 'if the Adtn 

full well that a feeling of pride till. 
connected « ith tin ' i R 

( hairman was n to take up 

and we .iImi km v. 
were the loser by that appoint 
the tii 

they v et Mi liv both Parties in tin 

■ as made to his death th 
the Greal Western Railwa) C< I think 

you will agree with me when I saj thai wi all ap| 
Cawdor more than mam \ 

I Cawdor's foresighl and strength 

nuch opposition and man 
■ embark on thai 1 which has brought the 

Western up to its prescnl standard, and the beni 
which, I bi li ' now beginning I 

For this, it for nothing else, I feel sure that 
li all look upon his memory with tl 
ll.ii hea I :■ however, v ' tunate 

I., counl him amongst our personal friends a 
. feel that we ha\ 1 ■' man 

ever had, and the country has sterling 

Englishmen lause. \\ e have 

deplore 1 hi di ath 1 >l much valui I 

stoke. Lord Winti 

since the year 1888, and he had won the 1 

v, ith •■■ Lord Win- 

ce, coupled with his strength of character and Ids 

. you that it is with the . ■ wi on this 

li . 

Rl.i EIPTS. 

I will now, with vour permission, procei 

the meeting, and 1 will ask you to go, as us 
will take tl 
■ ill turn to page 6, table 1 

h, to which should 

Railwav under out 
makinj 

Festinii g Railwav, which was , 
which, il.ilu 

will turn to 

/",, 4 .c- 






l-o 



THE RAILWAY TIMES. 



[February 18, 1911. 



of minerals 1 must point out to you there has been a decrease 
of about £30,000 in mineral traffic from that portion of South 
Wales which was affected' 1.x the -nils.', and had it not been 
f or thai unfortunate occurrence the increase, instead of being 
£37,000, W'i reckon would have been nearer £70,000. Dock 
and harbour dues show an increase ol £212; canal traffic an 
increasi ol £"183; rents of property, cottages, etc., an increase 
of £,5,747; and 1 transfer fees an increase ol £."12, showing .1 
total increasi: in revenue ol £.233,545. 
Expendi iikk. 
Now, il you will kindly look to the other side on the same 
page, table No. g expenditure on maintenance of way and 
works shows an increase ol £"48,256. The main item of this 
increase is the provision ol £40,000 for the cost of strengthen- 
ing and rebuilding bridges. The proprietors are aware that 
for several vears past an expenditure has been going on in 
renewing and strengthening our bridges in order to earn the 
heavier trains and the increased traffic, and by placing this 
£-40,000 in the renewals fund, we hope to expedite that 
work. You will also notio an additional cost under the head 
of maintenance. The renewal of the permanent way 
accounts for £.11,358, but this is more than accounted for by 
thi extra mileage which is now open, there being practically 
100 miles oi single line more than there was in the correspond- 
ing period of last vear. Locomotive power shows an increase 
of £713.047, and notwithstanding the fact that 583,000 additional 
train niili-s were run during the half-year, the increase in this 
account is prncticalh confined t" repairs and renewals^ ol 
engines. These amount in £."12,154, tin- main item being 
£17,582 lot- additional cost of repairing and renewing boilers, 
as against which there has been .m increased credit lor scrap 
materials sold of £;,"i;. Carriage and wagon repairs show 
an increase of £,";,XiS. This increase is due to the same cause 
as that which l" mentioned at our last half-yearly meeting, 
namely, repairs to the additional st,.ck which has been built 
during recent vears to furnish our new lines. Traffu expenses 
show an increase "I £22,071, and the largest item <>1 increase 
in this account is that ol salaries and wages, which amount to 
/ ; s - 4 , s . This is caused b\ the additional stall necessary partly 
u, (!<.;,] w ith the additional traffic and partly lor staffing the 
new lines ami stations which have been opened during the pasl 
vear. General charges show an increase ol £4.017- The in- 
creasi hen is mainly due to telegraph expenses.which accounts 
for £7 1. 04 3 more than in the corresponding period, owing in tin 
greater number ol renewals of poles and wires. Law .barges 
show a decrease ol £.'2, 5157 a very satisfni ton feature, I think, 
and Parliamentary expenses show a decrease oi £116. Com- 
pensation for persona] injuries -hows an increase oi £20,316. 
Now, ol this figure £20,000 has been added to lie reserves 
towards the compensation lor accidents, bringing the total 
of that accidenl land up to £80,000. It stood al £60,000, 
and I am sure vou will agree with me when I say thai we 
considered it was a ver\ desirable thing to bring that fund up to 
this amount, and. personally, I shall hope to increase that to 
:i certain extent in the future, as I think our accident fund 
oughl to stand al nearer /." than at £60, 1. Compen- 
sation lor damage and loss ol goods shows an increase ol 
^2,Q43 ; rales and taxes show an increase ol £s,43 8 - and Llnuer 
this head I should like to tell you that the uei increase, due 
i,, poundage, amounted, during the half-year, to no less a 
sum than £0,005, which has been brought down to £5, 43 s 1|X 
reductions in assessments, etc. Government duty -hows ., 
.],,,, ; lS e ol £ ; ,. ?5 i owing to the abolition ol the second < la--. 

\| 1 nd demurrage ol rolling stock show an increase ol 

£10 140, additional wagons having had 1,. he hired during the 
past half-vear to carrv the increased traffic, .nu\ this accounts 
lor the extra expense incurred under this head. Steamboat 
r, . s ho\\ an increasi ol £"10,010. This increase is mainly 
due To the new service which we have started between Plymouth 
llK ] Brest and Nantes, which was not running in the corre- 
.,,, 1( ling period ol lasl vear, aid our .anal expenses show a 
decreasi ol £75-'. making the total increase in expenditure 
104. 

\l I RKSl'I.'l s. 
1 n , perci f ' xpi nditure to receipts this half-yeat 

works out ai a ven satisfactory figure, namely, tm.044, whi.l 
is il,. mosl favourabli li ;ur. thi veai iqofi, when it wa- 

i„, •-,, thus showing ilea tin railway h is be< n worked on tin 
omical In,.- p. ssibl. ill-.it. hear.) He total revenui 
r, e, i,„- amount, a- vou ll.ave heard, to £."7,447,1)1 1. in. I the lata 

rev. 1 -| litun to / |,S !»o"'i ' he balance to the revenui 

thi :il"i. £2,977,402, to whi, h must In el led th 
balanci from the last account ol £q6,o°2, the dividends 01 
shares hi Id b\ th< 1 ompany amounting to £7,483, and bankei - 



and general interest to .£15,603, making a total of £3. 007, 300, 
and alter payment of the interest on debenture capital, rent 
charges, chiel rents, guaranteed and preference stock dividends, 
which amount to £1,628,940, there is a balanci ol £ 1,40s. 450, 
which is available foi dividend on the consolidated ordinary 
stock, and will admit of the payment at the rate of 7.;. per cent, 
per annum lor the -ix months, absorbing £1 ,353,659, carry- 
ing fi rward a balance of £114,701 to the next account, as com- 
pared with a dividend at the rate ol 7 per cent, for the corre- 
sponding period of last year, when w. . allied 1 01 ward a balance 
of £708,875. (Applause.) Now if you will kindly turn to 
page 11, table 15, you will see there the train mileage is staled. 
Passenger train miles show an increase of 203,176 miles; 
passenger electric trains an increase ol 10,703, passenger rail 
motor services an increasi- of 145,551 miles, and 1 goods and 
mineral trains an increase of 223,857 miles, making a total 
increase in train mileage ol 583,287. The receipts per train 
mile work out al pi 1 passenger 4s. 7.9HXI. as against _p,. 7.uoi|d. 
lor the corresponding period, or an increase ol .gold. The 
goods receipts pi 1 train mile show 7s. jaii.Sd. as against 
7s. J.44.11I., 01- an increase of .4(^1. The total receipts per 
train mile for both pa--, ngi 1 - and goods amount to 5s. 7. S 1 41 1 
as againsl 5s. 7.11351!., being an increase of .77.11!. The ex- 
penses per train mile work OUl at 3s. 5 . 1 -! 7 1 1 . as against 
;s. 4..X7KI., or an increase ol .j.^od. 

\\"l 'RKS yxi> Improvemen Is. 
So much for the accounts, and 1 will now ask you to kindly 
turn to the report. Paragraph 2 records the progress which has 
been made with the Swansea district lines, , ;1 work which VOU 
will remember was designed to improve oar South Wales main 
line, and our railway working facilities generally in the neigh- 
bourhood ol Swansea. Ibis paragraph also records that the 
time has arrived for taking in hand the construction of the short 
loop line at Neath. This loop was authorised by the Company's 
\, 1 1 .1 1 1 in. 1. and the effect ol its construction w ill be to rend* 1 
possible the use of a section ol the Rhondda and Swansea Bay 
line for Great Western express traffic, thereby enabling us toavoid 
1 be Neath station, and at tin- same time giving us an alternate e 
and slightly -bolter route. I am very glad, also, to he able to 
ol: \.;ii that the doubling ol th- Newport tunnel and 1 the 
widening ol the line between Torquay and Paignton havi 
been completed, and these improvements will conduce to the 
facilities lor working our traffic. At Swansea Docks the 
companv's new coal til 1 - and hydraulic appliances are now in 
operation, and an- working well. Paragraph 5 deals with the 
works in the neighbourhood of Birmingham which it has been 
necessan to earn mil in widening the line and reconstructing 
and enlarging Snow Hill Station! and I am glad to say these 
an arriving al thi stage when, to some extent, they can be 
taken advantage ol in dealing with the very heavy traffic there. 
Thev were taken in hand none too soon, and as soon as they 
are finished they will be of the greatest relief to those respon- 
sible for the working of our heavy traffic in that neighbourhood. 
The Paddington Station improvements are also proceeding, and 
in regard to the new goods depot at South Lambeth--- which 
has been designed to relieve the congestion of our Paddington 
floods Station— further progress has been made by placing a 
contract for the erection of a warehouse and other works, and 
I think that time will show how thoroughly justified we havebei n 
in undertaking that work at South Lambeth. Paragraph 4 of 
the report informs you that we are taking step- to acquire the 
land for the Wolverhampton and Bridgnorth line which, as you 
know, was authorised some timi ago. We believe the time has 
conn- when the construction ol this line should -certainly be com- 
menced, more particularly in view ol some very extensive 
colliery developments now going on at the eastern end, and which 
the branch to Kingswinford will accommodate. Paragraph 5 
,, 1 in-- to the Pill- to be brought before the special meeting to 
follow immediately aftei this meeting, but following our usual 
practice, you will no doubt think it will be more convenient foi 
me to deal with them now. Then- are altogether four Hills. 
The first relates to a proposed new line from our Gwaun-Cae- 
Gurwen branch to the Swansea District railway at Morriston. 
This line will servi a vein largi district lying to the north ol 
the Swansea district line, in which an extensive anthracite coal- 
field is being developed, and it will provide a greatly improved 
means ol communication between the neighbourhood ,.| Gar- 
nant and Swansea and Neath. We are satisfied that the traffic 
lo lx anticipated, both passenger and mineral, fully justifies 
this measure, and I may say thai ibis proposed line is really 
the natural compliment to the new works alread\ undei con- 
struction .a tin district. I'he second Bill is for amalgamating 
the undertaking ol the Manchestei and Milford Railway with 
thi Greal Western on term- set out in the r.p< irt, which w . an 
satisfied are such -is ma\ tx confidently recommended to you 



February 18, iqii.] 



Till. k \H.\\ SY TIMES. 



171 



ice, I his is i eallj ni • n< « liability , as you will 
e\y years ago wi took i leas< ol the line for 
999 >•< ii s. I he third Bill U one 

i I way to en iblc thei t n sh xti 

..i t ti.it line Wood I ane to connect with this, company 's 

authorised Ealing and Shepherd's Hush Raihva) I 

..l this will be to enable n through servii 
be established between our line al Ealing and the 
Central London Railway, and the l>ill proposes to . 1 1 1 1 i i • i i ~ < 
the two companies to enter into working and traflii 

i Bill is one which is promoted b\ the 
London Electrii Railway Company, and relates to the pn 
, \h nsion ol ili.it company - I I 1. i Str< el and Waterloo Raihvay 
from Edgware Road to Paddington Station, a facility which 
we believe will in highly appreciated by the travelling public. 
(Applausi i P iragraph 6 si ts out particulars of the capital < \- 
penditure which you will be asked to vote. rh< firsl ii 

for the Neath Loop Line, which I have alreadj re- 
ferred to; the nexl two items relate to works al Birmingham, 
and the rest, I think, speak for themselves; bui it there is 
anj information \ >u may dtesdre upon any of these items ' 
should 1 presently bi only too pleased to give it to you to the besl 
• ■I mj ability. With regard to paragraph 7, 1 have alreadj had 
sad occasion to refer to it. Paragraph 8 refers to th< retire- 
ment ol our .'lil friend Mr. Joseph Morris, late superini 
of the line. Mr. Morris entered the service of the companj in 
the" year 1861. He became divisional superintendent al 1 
in 1886, and was appointi I the line 

in 1891, and t > > t li< ■ posl ol superintendent of the line in 1904. 
We all on thi- side ol the tabla wish to bear testimony to the 
excellent services which Mr. Morris has rendered to thi Greal 

Western Company during his Ion I in this testimony 

I .1111 sure you will be only too read) to join, and also we desire 
t ider <>nr warmesl thanks to Mr. Morris, coupled with our 

Ix-st wishes for a long life to enjoy his vvell-eamed rest. 
(Applause.) Paragraph g will be dealt with by resolution later 
S 1 much for the report. 

FlSHGU yRD Ii; m 1 n . 

\s on previous occasions 1 have usually said a word 01 two 
aboul Fishguard, and as 1 know you are anxious to hear how 
' : \ ou thai since oul last meeting an 
additional line ol steamers has arranged to use Fishj 
namely, the " Blue Funnel" line ol Australian steamers run b\ 
Messrs. Lamporl and Holt. These arc the firsl steamers to 
make a call ai Fishguard on the outward journey. Th< firsl call 
was made on November 19, and it was arranged that thev should 
continue to call every month. As I have said, ihis is the firsl 
line ol steamers which I ed to call on the outward 

journey. As you are aware, several Inns ,,t steamers use Fish- 
guard on the inward journey, and had it not been for the 
facilities which are afforded b_\ Fishguard, it would have been 
impossible for the magnificent records which the Cunard line 
have made lately, and which have been the talk of the whole 
world, to have been accomplished at all. Then. I am happy to 
tell you that we have passed through a very prosperous period 
with 1 . traffic between England and Ireland via 

Fishguard, notwithstanding thai then has been .1 deori 
the importation ol iigs, which is realh accounted foi 

al circumstanci wise, track from Ireland : s doing 
wonderfully well. The consignment ol dain and farm p 
is increasing in a r< markable degri 1 . and our 1 >ffi< ers are using 
nd this business. I do not think there is any 
other point with regard to which I need trouble you at length, 
but I feel sure you will agree with me when f say that the 
operations of the past half-year have been of a very 
nature. I think you will also agree thai our great undertaking 
is on a ven solid I honestly think we 

may look forward to the future with hopefulness in I • onfidencc. 
use. If there are any questions that I can answei I 
shall be only too happy to do so, bu 

should like to say oni wot -~ the great gratification 

which I myself and the board feel al the honour of knighthood 
Which has been bestowed u|Xin my friend, Mr. Inglis. 
Vpplause. \ssociated as we all are in a business capacity, 
and having knowledge of his greal business experience and 
high sense of moral duty, I assure you it is an honour most 
richly deserved, and 1 am sure you will all join with me in 
offering Sir James lu-lis our most heart;- congratul 
Hear, hear. 1 will now move : "That the n 

s. which has been circulated amongst the proprieti 
which is now presented to the meeting, ind adopted." 

Mr. S. Erni si Pai Ml 1. di ; ut; 
resolir 

Mr. J. Camac, referring to th< R 
risk.-,! who 1 itlay for ;i m 



.'. hich, in his 
the. \ 

b. ing fishing \ illage, had in iv 

: nid would 

those pol I s Hi 

w ,is glad to noti thai tin .; «ds depi 

• Would ll 

pies, ui. it Paddington, and bi ol valui to South I 
gem 1 

Mr. |. S. Rubinstein suggested thai should 

expediency of providing that in all trains that 
win nol purelj local, ever) carriage should h 
accommodation. 

Mr. \Y. R. Lawson considered thai 
exceedingl) but thai the expenditure was out ol 

all pri 1 lings. He proce< ded to make 

a comparison between and expenditure ol the 

1 , v, the North Y\ 

ige ol the former, contended that the outlay 

iguard and the 1 unning ol crw ap 1 ■- 11 
entailed a considerable loss to the company. 

Mr. Melvin protested 

ill) in regard to the Fishguard ti iffic, which was ; 
well, and said it could hardl) be • • the outla) 

which had been made al 

.,1 it. lb considered that the management ol th< I 
was excellent and wise in every respect, and said he knew 

B ningham particularly all the railwa) compa 
the Midland, the Greal Western and North Western 
working with the greatesi harmony, and wen 
their best in the i ive sharehojdi 

Mr. Covin also protested ag 
between the North Western and till tin Western, and 
il thai the direi 1 I upi n 

having presented such a favourable report as that before the 
meeting. He only knew ol one cloud which was h 
over the railway world, and thai was labour 

question, and he earnestly hoped, now that the Hoard!: 

■ good working order and in a prosperous condition, 
that the) would give close considei >n to that labour ques- 
t : on. lie though! something ! ne in the v 

•o-operation . 

Mr. \lui;i)i:\ congratulated the Board upon the sui 

tunnel al Newport, 1 r il was absolutely 
necessary foi the enormous traffic which « irough 

that dis 

Mr Grani thought the cheap trips to Killarne) and other 
pi m s had pi ov.d a greal success, and 

should b. i)i,i, extensively advertised. With regard to week- 
end tickets, he suggested "that they should I to all 
stations lor which excursion tickets were issued, because at 
presenl the) were only available for certain places. I! 
though! the\ should be' issued all the year round instead of only 
during the summer months. 

Mr. Mi km thought it was advisable to introduce ne\i 
upon the Board, bul said he did not wish to interfere wit: 
,. lection ol thosi directors who were retiring at th< ; 
meeting. 

The Chairman, in replying to Mr. Hurst, said it was thought 
by some that the presert Board family 

party, but although he had a great numb,- in the 

world, not one of them was on the directorate, ai 
the same remark would apply toother members 
Wheni • oy unfortunately occurred on the I 

gentlemen were appointed whom it was consider! 
able to bring business to the company, and the candid 
each w.is yen carefully considered. With regard to sill 
Fishguard, which had been referred 
he was happy to ,.0 thai the silting wis n 
that port. As to week-end ti- 

doing all they .-• uld in that din 
;hi 

npany to din. 

Mr. M satisfied with yvhal 

had be, n the crux of the 

Itil that was ■ 

V 

1 and the N 
p.m\ 's lini p issed through :> di 
the Greal \\ 1 

air. I. A- to tie ■ Mr. 



THE RAILWAY TIMES. 



[February 18, 191 i. 



Lawsiin thai those trains paid .1 great deal better per train 
mile than did the normal ti tin*. (Applause.) He felt almost 
in Mr. Law.son's peace of mind that' he had mentioned 
Fishguard, for 11 seemed like the proverbial red rag befon a 
\„ to Mr. Rubinstein's remarks ah ui lavatories in car- 
lii e thai gentli man that .ill the new < orridi r 
hto'ek was being provided with thai accommodation, but it 
; i„ provided in carriages for local traffic. If the Board 
provided Lavaton accommodation in all their trains there would 
mil have been the extra half per cent, dividend for thi share- 
holders, but, as he had said, all the new carriages were being 
... provided. (Applause.) As to lie Royal Commission en 
i rmals, he could assure Mr. Camac that the Board would keep 
;i sharp eve upon that matter, and not be made a cat's paw 
for others, lb thanked Mr. Melvin foi his remarks concern- 
1: rmingham, and Mr. Coath for what he had -aid regard- 
ing tin labour question. The Board had made special pro- 
vision fi 1' dealing witli the latter question, and he could assure 

the shareholders' that the) win mi g ! terms with their men, 

thai na:ui all_\ the) must act in fairness to them. 
1 resolution was then put and carried unanimously. 
On thr motion ol the Chairman, seconded by Mi - . Palmer, 

ill.' dividends recommended in the report, including : at the 

rate nl :. per cent, per annum on tin- ordinary stock, were 
del Ian d. ' 

I'h. proposed expenditure sel forth in the report was sanc- 
tioned and approved ; and on the proposition of Mr. BROrc.llTOX, 
seconded b\ Mr. Coath, the 111.1111- directors, namelv, Mr. 
|. 1,, Griffiths, Col. K. II. Llewellyn, and Hon. Algernon II. 
Mills, were unanimously re-i lected. 

sri . 1 u Meeting. 

\ special general meeting was then held, when the Bills now 
I, cfore Parliament, to which the chairman had referred in his 
opening speech, were unanimously approved. 

On [hi motion ol Mr. BKoroHTOX, seconded b\ Mr. Rubin- 
..111 ,, hearty cote ..I thanks was a. 1 orded to the chairman, 
the directors generally, and the staff for their efficient manage- 
ment during the past half-) ear. 

I In' Chairman briefly acknowledged the vote, and thi pro- 
( eedintrs then terminated. 



ALEXANDRA (NEWPORT AND SOUTH WALES) DOCKS AND 
RAILWAY. 

I hi 41 .: h 1 rdimai t gi neral mi eting » as held 011 Tin sdny 
last, .a the otTn 1 - ol tin company, 14, St. Man Axe, E.C., 

I , .id I 1. d. gar (i haii mi I thi 1 ompan) .1 presiding. 

[ 1 Sid Ri 1 \l<\ 1 Mr. W. G. I 'land, i - i having read the notice 

, unveiling the meeting, land TREDJ g \k - ad thai ilia i ompany 

ha I , nei i ase ..I £."6,064, X-'4 I '. S| " h -"' been b P enl 

upon works ol construction (ilia new lock entrance and furthei 

ension), thi- was a large expenditure, bul ha did not 

think ilnn was an) reason to complain a- the matter had 

fulh ■ an mi out b\ the engineei s, managers -'^^ 

3. ' '] I,, v ii id -nil some leewa) to make up. In [90S 

the\ had a mosl satisfactory year, everythiing was increasing 

weo e oai ;i fail wax for a ven 

large increase at trade and traffic, bul since then the) had 

tittered - ana from labour troubles threats -I -a ikes, and 

tin in'g .lmI consi qttentl) the an 1 ease ol trade did 

iue. In thai respi 1 1, howevor, the compan) was n .. 

worse oil 1 ha a mil, 1 people, becausi even great manufacturing 

■, I,,,, I suffer d in ven much thi same way. 

I >Kpun a :. or I,-- a\a iisive si all had been 

ughuul the last six in, .nth-, and there had bi 1 n mi 

all 1-,, nn, I finis. 1 In 1 unpan) had also been 

d wad a falling nil in the exporl trade which had 

1 he outputs. In oui fon i Newport 

., [on- i 1 ' xporl ol in.d. The) had a 

1,:-, bul ila v had h, m doing iheii 

,.||, , a hi Ii h id d, layi d the 1 ompletion 

i i., .1 pi.., e, and just as 

npletion ol the works 

I been tal 

of thi collapsed trench, eh , .<><.] before the permanent works 

d been completed, a further 

ivurli . . 1 1, 1 mhei ifi di g a hea\ \ 

Ii a nii.'d In a 

1 torrents "I rain 1 arrii d ayva) pari nl lie con- 
lam the 1 niiii portion of the 
, ■ , , defence, and I 

a through w hi, Ii 111, i 1 poi lion ol tin 

., iter. I he 

nt tin ' c a 1 1 y i n 

.', ol the water iva- 



pumped ,,ui by January 19, and work on the remaining portions 
,,( the concrete wall is again in lull swing. They had 
employed, upon an average, aboul 700 nan during the past 
six in, null- upon the work. 

'fhe Chairman then formally moved tin- adoption 1 1 
rep : Ida- was seconded h\ Mr. E. M. Underdown, K.C., 
who, in hi- remarks, said that, although ver) unf. rtiinate for 
the contractors, all monetary loss caused by the disasters fell 
upon them and not upi a the compan) which was affected by 
the dela\ in the work. The report was then ad,, pied, and 
resolutions for dividends at the ma \'. pei cent, per annum 
e A and B preference stocks ware carried. 

Resolutions were passed sanctii ning the 1 reation ol £200,000 

consolidated stock A, and £200, consolidated stock Ii, 

authorised by the company's Act of 1909, and the borrowing 
of ,£238,750 authorised to be raised, and the creation and 
issue of mortgages or debenture stock for same. 

The nailing directors, Lord rredegar and Mr. E. M. Under- 
down, K.C., win re-elected, as also Mr. (iriliiths, the auditor. 

The meeting then resolved into a Wharncliffe meeting to 
ler the company's Hill, authorising the construction ol 
a proposed new line from Bassaleg to Nine Mile Point. 

I iia Soi H in a; 1,. tin- 1 ompan) . lm\ ing read the salient points 
of the Hill, thr Chairman explained thai the construction o! 
the railway was proposed to protei I i< nselves from outside 
compe ition, rhere had been some opposition to the scheme 
received from tin- A and B stockholders to the creation of the 
new capital. The course In- proposed was 1,, take a leaf out 
of tin- Government's book, and say that tin- mailing must 
either accept or reject the Bill, but that was not the time for 
discussing the details nl the Hill, which must be considered 
elsewhere if it was taken before the Parliamentary Com- 
mittee Ilia Chairman said that he was «,t opinion that the 
1 iiipani) should lake the course proposed, for their own pro- 
I y ■ a: the meeting was from tin- A and H 

shareholders, who were afraid their holdings would hr watered, 
Ian ha asked them to consider the welfare ol thr whole com- 
pany, and ha suggested that if the Hill was approved ilea 
mighi ai the pri per time see it the objections now raised could 

nana d. 

Mr. E M. I sderdown seconded, and stated thai Xewporl 
was not receiving it- due share of the traffic from the Mon- 
mouthshire valleys. One sixth nl the Monmouthshire coal was 
taken I 1 I but onh one-twentieth of the Glamorgan coal 
was shipped .a S'ewp rt. Ila stated thai it was nol a fac! 
that ilia prop sed new stock was guaranteed stock. Thi 
lion was that it was to beai interesl a; 5 per can',., and 55 
pel cent, ol the gross revenue was to he taken as working 
expenses and go in the \lexan Ira l>a,ks for working it. 

Mr. \\ . M. Mi Clean, cm of the directors, opposed the 
financial proposals, a. id stated thai the capital sh >uld be raised 
b\ thi creation of equal amounts ol debenture stock, and of 

\ ., id B pi efei ma ' aad ,,1 dinar) si,:, k. 

Mr. Linton, solicitor, ol Cardiff, opposed the Hill on behalf 
of 440 preference shareholders, as also did several other holdi 
of -lock. In the result the Chairman put tin- resolution la 
the meeting .md, being seconded, h was duly carried. 

A poll was them demanded, scrutineers warn appointed, and 
the meeting was adjourned until four o'clock the next day. 
I '1, p illin" resulted in f ivour ol the resolution. 



Rhondda and Swansea Bay Railway. \i thi half-vearh meeting 
held in Swansea last Saturdav, Mi. M, rgan B.' Williams, the 
Chairman, said that in spite ol the prolonged dispute haiw.an 
. apil il and labour in the South Wales coalfield, there had been 

on their line a slight continued increasi in the traffi. pts 

With tin 11 mark'able revival shown h\ the Board ol I rad« 
returns, a continued general improvement in the market value 
..I railway property might be anticipated. The shareholders 
', no doubt aware of the several proposed railway .Mansions 
in the Swansea district, cither ahead) sanctioned b) Parli.i 
111.nl or foi which powers were being applied in the presenl 
session. Soma of them affected then interests. I h. mi, ol 
nn .si far-reaching publii advantage was the shortened main 
line ol ila- 1. ...11 Western Railwa) Compan) via Fishguard, 
with running powers over a small section ol the Rhondda and 
Swan* .. Bai lini .n the < ms-inn. ol the Ni ;tth Kim 1 B) 
Ihal 11a ms would I., establislied the most expeditious and 
direct riiinmunii ition between \nierica, [rclaml, London and 
il,,. f, ,nini, in ol Europe, both as regarded pa--, ngi and other 
vnother work in 1 onsti u< lion b) the < rival \\ esti m 
1 unpam wa> lln branch line from Llangeunech to Swansea, 

uhi< h would bi ma ..a i s i . nsi\ il-produ< ing an ., into direct 

. ommimication with the port ..I shipment. The report and 
stal< ni. ni "I accounts w. n adopted. 



t \RV l8, K)II.] 



Till UMI.W'W TIMES. 



Vl 



LONDON AND NORTH WESTERN RAILWAY. 
The I u counts to D >, w ere issued 

a week ago, < 'm usual analysis is appended 

[TAT.. 

I otaJ expenditure . . 

[l6,l 
olidatcd stoi k . . 

( in. u anteed . . n 76,120 

Preference stuck-. .. .. 23.754.507 

1 tebenture st..i k . . 
Premiums 



■ .-'■ 14 
The receipts during the half-year amounted to 
the expenditure in the hali which 

.111 lines open for traffic, £2,572 on working 
on subscriptions to other companies, li 
of /J 1 on leased lines. Estimated furthei expenditure — 
In the 

; 1 an d oth e i 

available assi IT' 1 

The reveni half-year ended December 31 

shows the receipts to have been as under: — 

Passi lass 

. . 
Third-class 

kets 
Parcels, hoi | | 

Mails . . 
Merchandisi 
Live stock 

Minerals . . . . 1 ,822, 1 \S 

Trans:. . . . . . . 86] 



1909. 

26] ,249 

■ ,. , 1 

674,682 

127.1.1.1 
892 

I ,> 698 



Rents . . . . 155.945 



Total receipts 

spenditure on revenue act 
■ v. s :— 
Main' 

I. mi an •- |" 'v.i 1 . . 

repairs 
Mileage I her co.'s 

n ses 
General charges 

. . 
Parliamentary expenses 
Compensation for accidents, losses, 
etc. 

merit duty 

line expenses 

Steam': 

Depreciation and insurance ol 
steamboats 



nditure . . . . £5,1 70.474 . . - ,. 1 

Th. ■ I appropi 1 iti'in c,t 

the baL ble for dividend may be summari 

'i.l lows : — 
Balance from 
mings 
Suni .... 1.013 



8,421,109 


; 668 


nut for the 


same period 


£77°.i32 ■ 


80,057 


1.664 


[,281 


(28,263 




281 


21,554 


63 . 


t.794.572 






[3.148 
















018 




IS ■ 




56.1 - 




500 





I .. 
Prior ch 
General reserve 

l'rtt. ami guaranteed dividends 
Dividend on ordinary stock 
Balance to next hah 



ii- 



{ 1.227,423 





At the rate of 7. per cent, per annum. ^ At the rate of 7 per cent . 

The If-year show an ii 

■ . ) 1 1 . the expenses an ii 
receipt 

• s was in .47 "ii with 62 

Half-year ended i 

1 

01 1 
Third - lass 



1 












241 


24" 
















. 











Total 



- 



43.214.156 



Pai 
., 

Lines worked 
,, 



Total 
The i board 

lirman 
has intimated to them thai I 
1 « hen, 'I'.', in 
upon himself to relinquish the onerous duties of Ins position, 
he ha j filled w ith 

to th mpanj , bul I ; that 

ented, iJ re-elected b) t : 
on the board, and in thai evenl the companj .-. ill 
have the advantage of his li nient. 

I 1 mpany have not deposited any Bill in Parliament this 

session, bul the various Bills and Provision 

impany's interests which have been deposited by other 
will receivi il consideration they demand, 

["he following addition has been made to the mileage oi the 
company's lines during the hall yeai Alterations at Man- 
including opening of Mayfield Station Branch, 

I 1 1 hams." 

The half-yearly ordinary general meeting of th< 
was held yesterday (February 171 at Euston Station; the 
Right Hun. Lord S nan of the compan; 

siding. 

The Secretary Mr. J. is. Bishop), having read the 

1 1 ing, 
lh. Chairman, who was received with loud appla 
I now Laj i m thi table thi hall ■ Lints and th- 

(.f the directors, and I assume that, as the repori has 
your hands for some time, we may take it as read ah 
the conclusion of the remarks I shall have to m; 
shall move: "Thai the repori now read, with the half-yearly 
statement .it accounts, bi When 1 had 

the privilege of addressing you si\ months ago I said thai 1 was 
glad to be in a position to plat 1 >u a statement more 

satisfactory in every way than had beet 

past. Ow ing to the improvement w hich has since taken place in 
the trail, oi the country, the increase in traffic during the past half- 
is been such that we are able to submit to 

the previous halt-.- 
1 enabled, after placing £ 

1 i.l \ mi to declare a dividend at the 1 
num. against - pei ci nt. in the • 
the whole yi 
■ 
I forward is slightly more that tgh we 

■h; in AU.77S less. It may int. rest you to ',. 
past yi ■ -niarkalil.' U 

receipt 

in dividend, assuming thai \ 
i-ill be the I; 

capital expenditure in 1 
of the undertaking. In 
like to point out that we are now reaping th( 

c ipit il 

pth w : lh tl 

equippi ith the still 

may II ' 

. 

1m ri \si n Tkui 1 

with tl 
know. 



i/4 THE RAILWAY TIMES. [February 18, 191 1. 

the general results ol the half-year's working must be so satis- grievances oi the men thai had been brought before 

factor) to you that on this occasion I propose to deal only with him, and not onh to remedy their grievances, but to 

the more important items, though 1 shall be pleased to afford improve their position substantially, and he had taken .1 greal 

any further information which maj be desired on an) point. interest in establishing or impnoving their various savings, 

The greatest economy, consistent, of course, with efficiency, has benevolent and superannuation funds. B\ working in harmony 

1 xerciscd in all departments. The increase of ^,^7, 1 c ,1 , with the men, the safety of the passengers was promoted and 

in the traftli expenses and ol £13,329 in locomotive expenses the dividends of the shareholders increased. Lord Stalbridge 
an entirely due to the increased volume of trn Hie which has been had also done his best to abolish useless competition and prevent 
dealt with. Whilst there has been a decrease in the cost ol greal expenditure in Parliament in the promotion ..I new lines. 
repairs and renewals oi carriages, there has been an increase Under his lordship's administration, the electric railwa) which 
" f £ J 7."57 '" the upkeep of the wagon stock. This is an item would be opened shortly to Watford had been built, and he 
«hich, a-. I hav, previously explained, must fluctuate from time believed it would be of great service to the North Western in 
to time. I11 general charges there is an increase ol £5,928, bringing hack some ol the traffic which had been lost by the 
which is entirely dui to additional advertising, and which, I can competition of the tramways and motor omnibuses. In many 
assure you, has he, n amply justified l>\ results. In compen- other wavs the shareholders and the public were greatly in- 
sat ion there is an inctease of £4,601; but for the unfortunate debted to" his lordship for the zeal and energv which he had 
accidenl at Willesden there would haw been a considerable devoted to the duties which devolved upon him, and he there- 
decrease. As you know, we have -pared no expense in adopt- fore hoped Lord Stalbridge would have g-ood health and good 
ing the best known appliances lor ensuring the safety of the luck during the rest of his life. (Cheers.) 
hue, and our officers are continually examining all ideas or The Right Hon. Walter Long, M. P., seconded the resolution, 
suggestions likely to safeguard the interests of the travelling and said he warmh appreciated the honour which had been 
puhhe. with a view to finding anything that may tend to greater conferred upon hi-m'bv being asked to do so. Lord Stalbridge 
security. Rates and taxes show an increase ol £14,613, hut, had been a director of the' North Western lor 40 \ears, and 
taking the whole ol 1910, the increase was £7,824 only, which chairman for jo vears, and those wars had been pregnant 
was more than accounted for by increased poundage, over which, and fruitful in railway administration, England was the 
as I have explained before, tin company have no control. We greatest countrv in the world and the North Western was the 
havi ■'':•"" benefited to the extent ol £6,643 by the improve- greatest railway in the world. Not only had his lordship plaved 
meat in the dividend paid by the North London Company. a great and leading part in the affairs' of the company, but' he 
I here is one further point in the accounts to which 1 wish t,, had given to the line all his .arc, energ) and affection.' All this 
dr:nv vour attention. In statement ; you will find that we would cause his name to he remembered with honour and 
propose to reduce our liabilities on capital account by a sum of gratitude b\ all who were interested in our great railway 
£350,464, being a balance of various estimates which we after- system. [Hear, hear.) Not onh had his lordship plaved a 
wards found could he dispensed with. Before moving the great part in the railwa\ world, but he was the right-hand man 
resolution I shall he pleased to answer am question on the of one of the greatest politicians of recent times the late Mr. 
' " I,lv I move the adoption of the report and accounts. Gladstone. (Hear, hear. He cordially joined in the good 

rhe Hon. C. V La vvrence (deputy chairman) seconded, wishes which had been expressed by Lord Rothschild, and 

Tin: Polic\ in Co-operation Lord Stalbridge's Farewell. hoped Lord Stalbridge would be long remembered whilst he 

Mr. W. R. Law son confessed frankh that this comp in\ h id lived > :m(l after '"' xvas gathered to his fathers, as one who had 

thoroughly carried out their policy of co-operation with the not " nK helped to build up the fortunes ol the North Western. 

Midland Compam an. I others, with the result thai the share- '"'' ,,n,, u h " natl " ' " served the Slate. (Applause.) 

holders had greatly benefited from the increased takings and ( o-operation Not fin ()\i\ lew ion. 

the savin- ol expenses. II. was proceeding to criticise the \[ r \. | Harrison, in supporting the resolution, said that 

accounts and affairs of the Greal Western, when thne ares,- during Lord Stalbridge's chairmanship, the board of directors 

""' "' " . imi • lnl " •" - 1 ' 1 ' 1 ;l stamping ..I feet, and he concluded had a) wavs kept in dose touch with the great trading interests 



by expn ssing a hope that the directors would oppose the Rail- ,,; ,]„■ country . and tried to meet thi 



i\ \. . ounts 13111 now before Parliament. 



'quirements 



The lion. \. II. II. .11 \nd-Hihbert, on behalf of the hoard. 



\. r - W'ai.i-ori) suggested that those to whom the three : ,| M , supported the resolution. Alter regretting that his lord- 
millions o| , apital lor the W atford line would he issued in due ,..,;„ ...„„ lb()Ut ,,, . icate tnt . cria ;.. he exnressed his ole 

.1.1 I II I . . I ... . . I-- ' ' ' . ' ' ' ' . " . 



lid he allowed to lake Up " he. a, , ,1, I k. 



lhat he would remain a member ol the hoard and give his 



The Chairman, in reply, said he was quite satisfied with the colleagues the hen, lit ol his ripe judgment and experience. In 
P * 1 "'"" nmv occupied by ih. North W .-stern, and therefore Lord Stalbridgi the staff ever had a good, firm and just friend, 



did not want to make comparison either favourably 



t un- u i, h ., decided bias on behall ol the officers and the employee 



favourabh with the Great Western or any other undertaking. It was a bias founded on the g I feeling which ii was the 

(Hear, hear.) Mr. \\ al ford's suggestion would receive tie- pr ide of the board to know existed between the officers, the men 

careful consideration ol the directors. and directors (Hear hear i 

Hi.- resolution was the, put and carried unanimously. ' The resolution, on 'being' put to the vote, was carried amid 

I he dividends recommended in the report, including one at the |,, u ,| m ,| prolonged applause 
V' 1 ', "' ,"> Percent, on the consolidated ordinary stock, wen Lord Stalbridge,' in acknowledging the vote, said that words 



de. lared 

I la retiring da., t. i s Mr. E, I , 1-Sroadhurst, Lord led..; 



Imosi failed to express his thanks for the kindness which had 
i shown him. ,\ chairman was not always accustomed to 



there was an increase in dividend, the attendance of shareholde 
it tin- half-vearh meetings was unusually small, and when then 



Ml \ l-'li-tcher an d Lord Stalbridge— were unanimously re- suc h language as' had been used towards him that dav. When 

i ect, I, and Mr. l-.dwiu \\ aterhouse was elected a a auditor, 
<)a ihe proposition ol the Chairman, seconded by M 

1 "• lh ' proposal to purchase additional land, execute Nvas "" a decrease "it was large ; therefore "he was egotisticai'enough 

vv,,r, . s - ''''■ -'- ^'■'"'•d m tie- report, was approved' ; and the ,,, thinl< thal the crowded attendance that dav was a mark 

lllf eling sanctioned the addition to tie- .apital ol th.- com pan) ,,| appreciation of He- litll. which he had been able I., do for 

.um ..( ^ 4 S,.,.4 [„, such purposes. ||l(ill (Cheers.) The lat, Sii Richard Moon virtually made 

'- , ;" 1 lx.on-o,uii, then rose, and said the verv pleasant duty lh ,, Suvlh Western the premier line ol the countrv, and when 

11 proposing a cordial voti ..| thanks to |„ succeeded Sir Richard, all he could do was to take care that 



'•»rd Stalbrid 1.1. way in which he had discharged the interests of the company did not suffer at his hands. Thei 



duties ,.f chairman ol the North Western during (he last 



cheering prospect for the undertaking now than 



' "- (Cheers.) II. believed hi was expressing the when he succeeded to the chairmanship, and he hoped it would 

feelings ol all the shareholders when he said I,.- hoped ill.- rest continue m prosper. Having expressed his obligations to the 

..I Lord Stalbridge'-s days would he passed in peace, honour slaf) f or u„. | ova] ,„-mner in which they had supported him, 

11,1 restful pleasure. (11..,,-, hear.) When Lord Stalbridge his lordship spoke ..I co-operation between the -real railway 

'" I '' 1 s " Ixi.h.a.i Moon as chairman ol the company, the companies, md said that the North Western was H„- first in 

Xl -" h Western was the premier railway ol th, world, and u the field to earn out negotiations whilst others wen onh think- 

had remained so to this day. During the long period of twenty ing about them'. Il was., mistake, however, I., suppose that 

V -"' x "" " ll - |i| l "' n K ' ,ln " ~ ■"" l troublesome times, and co-op, i ilion alon, was to be credited with having brought about 

if had been no easy tasktostcn ih, ship of the North Western increased dividends. Th.- results had been principally due to 

through all the difficulties which had arisen and bring ii t.> increased teal, and careful economies h, working, which were 

is present satisfactory position. \ .,,,., , undertaking lik, always being considered In the officers in all departments, 

the had three publics to satisfy and consider tin men, th, Saving good-bye was a great wrench to him, but it was softened 

<-rs and the shai On, pan ol Lord by the kindness of his 'colleagues, who had asked him to con- 

Ige's policy had always been to remedy am ti'nue.on the board. (Hear, hear, and cheers.) 



Febri \k-> [8, i'<i t.] 



THE KMl.w W TIMES. 



NORTH STAFFORDSHIRE RAILWAY. 

M, rhomas Mosle) presided al thi 130th half-ycarl) meeting 
rdishin Railv ■ S oke-on- 

i i i 

The Chairman, in moving lh< adoption ol the repi 
summary ol which appeared in last Saturday 's K \n w m I'imes), 
said he did not think am chairman during the twenty 
in which he had been a d'irectoi ol the compam had been 
to |„. . favourable report. Oiily four times pre- 

viously- in 1891, iS'i-'. 1893, and 1896 had th< \ 

a dividend • nt. The net revenue account 

showed X-'T"-" 15 available for dividends. Thi 
dividends amounted to £75,487, leaving £100,548. ' ,,r 
directors recommended a dividend at the rate o! 5 per cent, 
on the ordinan stock, which would absorb £^9,865, 
li iving the large bnlano •' £10,862 '" ! ' rward. 

The dividend foi the whole yeai was 4;. per cent., which 
was : i" 1 cent, better than the previous year, and the 
best divick nd foi years. Dunn- th 

had carried 234,194 more passengers than in 1 I icroasi 

in third-class pass . . and in contracts 145- '"" 

then had been 1 decrease ol 1.757 in first-class passengers, 
and of 5.4-'; in second-class passeng rs I incri 

from passenger traffic was £4,804. There was an increase 
of £1,526 in rates and taxes in the year, loll, .win- an i 1 

I.96 in the previous year, and £1,057 in u 
might feel assured thai this question was one which the 
directors would bear in mind and look into very closely. The 
increase during the past year was trai 

newlv-federated Potteries. The) had been always certain thai 
tion would lead to great expenditure, but there was one 
point which should be borne in mind. Although there were 
s. the) had to consider whether federation might 
not result in increased prosperity for the district. The directors 
had also been looking into the importanl question ol assi ss- 
ments, and he hoped thai .1- a result of their enquiries the) 
would be abl< ction in assessments in the neai 

nts had been made dui ing the 
their bridges, in the permanent way, and the rolling 
The) had ilso sel aside £1,000 as the nui 1 special 
fund to provide for repairs consequent upon subsiden 
their canal route He instanced two points showing the 
. d prosperity ol the district during the past year. One 
was that the) had issued 162,600 workmen's tickets, an i-n- 
; the 1 ither w ;i- that the\ had ahead) 
52 saloons ordered for Chester races, which was ten or twelve 
more than their previous maximum demand. This showed thai 
the working classes wen n work, and consequent!) 
Their mineral traffic during tin year had been 
, record, showing an increase ol £1 1.5X7 on the previous 
Their returns also showed increased prosperit) in the potting 
and steel and iron industries. The directors proposed to hold 
the summer meeting ol the compam in London and the winter 
n IK ni. 

Mr. Bevii.le Stanier seconded, and the rcixwl was adopted. 



GREAT SOUTHERN AND WESTERN RAILWAY, 
half-yearh meeting was held • VVi Inesda) al Kings- 
1 Terminus., Dublin, Sir VV. J. Goulding, Bart", presiding. 
I . ( '11 \ik\i vn m< >v< I the adopti 
of which an analysis appeared in our issui v 

Hi said that for the half-year under review the traffic rei 
had for the lir-: time cxc< I total amount 

was £813,611, being an increase of £26,467. Not onl) so, 1>ui 
there was a reduction ol £2,909 in the working expenses, and 
the ratio of expenses to receipts was 53.52 igainsl 

55.41 per cent. ll< thought th • urably 

with anv in the kingdom. Another record was that the dividend 
earned on the ordinan stock was al the rate ol £7 7 
per cent, per annum, or £1 os. 1 id. per cent, more than in 
1909. The last time a dividend 1 I over 5 pei cent, was ; 
the old and much smaller Greal Southern and Wi - 
was in 1897, when - was paid, ai carried 

forward. On th p sion the lit • nended 

a dividend ol 5', per lent, on thi the amalga- 

mated companies, thai £30,000 be placed to reserve, and no less 
than x ' "' board [hi 

in order to replace the sums which 1 

it in the past half-year for the unfortunati K sci 

I in claim-, and 1 
glad to -a\ that onl) seven claims now remain- I 
with. The hoard had dealt generously with the - 
avoid- ' wherever possible. They had careful! 



1 \ 1 '- and adopted 

his mosl im| 1 was caus< d 

ng to the ml- 
The din ctoi -. had . 
implicated, and had dcall with each individual in a rq 

I iu-t .im\ proper. In r< 
traffic, there was an in< reast in fii - 
although a I ' in numbers, showing 

1 shorl disl 
was an x 7 4 S in -• eipts, though here 

again ihe numbi 1 ol passi ngi ■ - >hov I • higher 

Were due to toll! i- I 

the third class the) had ai ers, and 

£13,120 in receipts. This w.i- ;i 

erit) of the country. The traffii ol all kinds by thi 
lare route continued to show exi .n-s. It was with 

deep regret that the board had noticed the Caw- 

dor, thi the Fishguard and I 

a nobl 1 ability , and a valued all) ol thi 

11 and Western I 
was an pei cent. In regard to ex- 

penditure, the traffit expenses showed an i 
but this was il chargi s, in, ludinj 

and extension ol the company's I lighting plant at 

a cost of between £3,000 and £4,0011. The expenditure in the 
engineer's departmenl showed a deci ind in 

maintenance of permanent wa 

thirty nini mi id sixteen mill lering 

had been doni during the year. I'he main line from Dublin to 
Cork was now complete!) laid with heavy rails. O! Ihe total 
expenditure in the locomotive department, including cat 
and wagons, viz., ,£168,375, £14,375 had been speni 
newals as distinguished from repairs. Running expense* 
showed an i , of which x. 

and the balance lor increase in wages. The reducti 
expenses in permanent way and thi rtment 

were nol caused by an) -; my, bul were the results 

, 1 the heaviei work done in these departments during 1 
veil-. Ii wa- satisfactory that they had funds 

: In \ could devote to improvements and expansions that 
otherwise would li, charj; al. Sine- 1901 the) had 

-s than £184 surplus 

earnings. Thi pn s|«-ets ol the countr) for the coming half- 
year wen- favourable, and the receipts up 

' I £ s .5 22 - 
\|i R. !•'. s. (in \ 111 seconded the motion. 
Several shareholders congratulated thi dii 1 ■ highly 

satisfactory results which had been acl 

GREAT NORTHERN RAILWAY OF IRELAND. 

The half-ye irly meeting was hi Id 1 

Terminus. Dublin. Mr. Fane Yci n, chairman 
compam , presiding. 

| I,. Sect \l 1 Mi IRRISON, ha\ 1 

ci ni\ en Ciiairm 

report and statemenl ,1 aci : - an malysis of which ip- 

peared in 1 hf R mi u m Times lasl \\ • 
the accounts he expressed the regrel ■ 
Ml . |ohn Jameson, wh 

by Mr. Moorl 

Chairman said thai hi V 

half-vear w ith a consequent 
Vs pan I with the corresponding half-v- 

an in, n 
for thi 

more than I 

natural nied by an im 1 

bull-head r.iil- 

I 1 thirtv-five bi 

I 



i 7 6 



THE RAILWAY TIMES. 



[February 18, 191 i. 



si class of traffic. During the year improvements had 
completed al the Dublin terminus, which had made access 
more convenient, f*hi new running sheds and offii es at Adelaide 
and Windsor had practically been completed, and would soon be 
put into use. In the locomotive department the increase ol 
, was due to ini reased mileage, higher wages, and dean i 
coal. Mm cosl ol this last item had been [8.7 percent, of the 
reci ipts, not, he thought, an excessive proportion. The question 
, 1 C oal consumption had received careful investigation from the 
officers and staff with a view to economy. Both drivers and 
firemen had co-operated towards this end, and they had given 
great assistance f"hey were about to experiment with engines 
fitted with apparatus for steam superheating with the expecta- 
tion ol securing- still greater economy. The traffii expenses 
showed an increase of £2,031, but as this represented onlj 2.6 
per cent, againsl an increase of 4.62 per cent, in the traffic 
carried, it would be seen thai due economy had been exercised. 
The pooling arrangements into which they had entered had 
worked well, resulting in increased receipts, some economy, and 
more friendly relations with other companies in which they came 
into c< impel ition. 

Referring to tin company's Bill, which is now before the 
House of Lords, the chairman regretted thai it was again being 
pposed in thai House, but he had every hope ,,l it becoming 
law before long. 

As regards the future, it was difficult to forecast events. 
Much would depend on political and social considerations; but 
speaking generallv, signs were not wanting that more improve- 
ment mighl be expected. The receipts for the present year so 
far =ho\\ an increase as compared with 1910. Judging from 
the ini rease in the deposits of the saving's and joint stock hanks, 
the\ might conclude that the circumstances ol the farming 
cla-s,. s were as 1 rule favourable and trade fairh brisk, so that 
they might hope that reasonably good! times were in store for 
Ireland, in whose interests the prosperity of the railway com- 
panies was hound up. 

After some remarks h\ several shareholders, the report and 
statement ol accounts wen approved and resolutions wen' 
pa — I dei lai ing a dividend for the half-year on the consolidated 
prefi renci stock til the rate ol 4 per cent, per annum, and on 
the ordinary stock at the rate of oi per cent, pet annum, payabl 
on March 1. I he retiring directors and a ud i tot- were re-elected 



RHYMNEY RAILWAY. 

The half-vearh meeting was held in Cardiff, on Pebruarv to, 
Mr. ( iodfre'y (dark presiding. 

The ClIURM.W, in moving the adoption of the report and 
accounts an abstract ol which appeared in last Saturday's 
R mi w yy Times), congratulated the shareholders on the success. 
I HI results of the past half-year's working. The past twelve 
months had keen rather trying lor those engaged in raisin-;" and 
transporting <oal, hut the Rhvmnev Company had almost 
entirely escaped those labour troubles which had operated so 
disastrously in other vallevs, and lhe\ had an increase in ton- 
nagi ol M>mc jo ,,,,,, i tons. The directors, then-lore, wen- able 
n nmmend a dividend .11 thi rate ol oi per tent, lor the 
pasl si\ months, and to carry forward £.7,2X2 very much the 
same amount as they brought into the account at the con- 
clusion -it last year. The directors considered they would be 

i a- a Parliament for powers t,, make various 

improvements. lie liana Company were also going to 
Parliament lor a Bill to amend the celebrated rating clause in 
the Sirhowy Act, and this, <>| course, the Rhymney Company 
would have to resist. There might also be certain points in 
the Canlitl Railway Bill to whii h they would have to object. 
In th, di ah .-I Mr, K. P. Martin the company had lost the 
services oi a very able director, and one who, from his legal 
knowledge and his wide experience ol the requirements ol the 
company, y\ - mo-.t useful in assisting them to direct their 

The directors had ninated Mr |. VY. Beynon to take 

iln- vacant place 0,1 the board, .nv\ fell sun- that his knowledge 

--I il .,1 trade and connection with shipping would prove ol 

ttesl value in assisting the company. Regarding ex- 
penditure, they had bei n obliged to - spend a considerable 
amount -hi sidings at Ystrad Mvnach, a new goods yard al 
Caerphilly and on the < Mia hrani li. eti . I hi maintcnani e ol 
ways and works showed an incrcasi ol £1,322, -i'" 1 the loco- 
motive department an in; re. is, , ,i _, -"_■ ,s, -, , Por the renewal ol 
: ., £2,0 10 had 1 ide. The total in< reasi 

.,: expenditure was £6, I lii number of passengers carried 

was i,S;S,oo'i, and there was an increase in revenue from these 

I In re w .is an ini re: ini rals ol £5, m 5. The 

quantity ol coal carried was 1, ;fi,< tons to Cardiff,. 745,000 

inns in 1: 1 1 tons to Penaith. showing an increa>e 

11 n ton- to Barry, 1 (7,000 tons to Penarth, and ., decrease 



oi 18,000 ions to Cardiff. This gave a net increase of 201,000 

tons. 

Mr. VV. H. Bell seconded the motion. 

Mr. J. B. Ferrier congratulated the directors on their excel- 
lent balance-sheet. 

Mr. IIknio Radci ii-i f remarked that what he and some others 
said two years ago he could repeat that day — the prospects ol 
the company were never better. They should keep the property, 
and it would pay them. 

The report and statement of accounts were adopted. 

The dividends at the rate of o.\ per cent, per annum on the 
ordinary stock', at the rate of 4 per cent, per ,-1111111111 on the 
preferred ordinary and al the rate of 5.! per lent, per annum 
on the deterred ordinary stock wen- declared. The retiring 
din, tors, Mr. \Y. II. Bell ami Mr. \Y. J. Tatem, were re-elected. 

An extraordinary meeting of the company was then held 
for the consideration ol the Bill which is being promoted in 
Parliament. The CHAIRMAN said that the reason for the Bill 
was that the railway had outgrown the arrangements which 
existed at present, and il was very difficult to work the increased 
traffic in the present circumstances. At the present rate they 
had only one up and one down line to work some 3^ million 
tons ol traffic. They hoped, il the) provided increased facilities, 
tin- dock c -mpany on their part would also carry out some 
much-needed improvements, so that their engines might get 
away the empty trains without experiencing the delay which 
often now occurred. The cost of the improvements was 
estimated at £,"42.5X1. lie proposed thai the Bill be approved, 
and the resolut'on was unanimously carried. 

NORTH LONDON RAILWAY. 

The halt-yearly m, Ming was held on Thursday, at Euston 
Station, London, Lord Rathmore presiding. 

The Chairman moved the adoption of the report and accounts, 
an analysis of which appeared in last Saturday's Railwav 
Inns. Il,- said that there was an increase oi receipts under 
all headings of t--'-4' s "- while at the same time there was ., 
decreasi in expenditure ol £'7,233. These sums, together with 
1I1, amount bioughl lorward from the previous half-year, gavi 
them a sum available tor dividend exceeding that of a year 
..go l,y am, 596. They wen- thus enabled to recommend a divi- 
dend at the rat. of 5 per cent, for the past half-year, as against 
4 per cent, for the same period of 1909. M the same time they 
ft-ei : able to place anothi r £5,000 to the general reserve, I, ring- 
ing that fund hack to the figure at which it stood in the mon 

prosperous times of the company— namely, _ The) 

had also added £2,000 more to the renewal ol roads reserve 
and £500 to the renewal of carriages, and they were carrying 
foryvard £712,024. There was a diminution in the passenger 
traffic of £1,932, which was the result ol the increasing com- 
1 of tubes, tramways, .and motor 'buses; but then had 



] en 

|, ecu an increase In the receipts from merchandi 
ami minerals to the extent ol £4.-50. They had charged 
■i'.j, 00,, more in the half-year for strengthening bridges than in 
the corresponding period ol tqoo, but repairs to locomotives 
was £2, jo; less. In conjunction with other companies, they 
fell it their duty to oppose the G-reater London Railway Bill, 
as this would in seriously injurious to their interests should it 
become law. There was one other matter to which he would 
refer, as silence on his part might he misunderstood or mis- 
construed. A reporl appeared in the Press ,, few days ago 
(which, no doubt, some of them had read) to the effect thai 
a si heme was under considerat i,m by the Ninth Western Rail- 
way lor the absorption ol their company, ddiat report was 
immediately contradicted by their secretary-; hut he (the Chair 
man) thoughl it bettei intake thai opportunity ol again saving 
thai there was not, and never was, tin- slightest foundation in 
fact lor that rumour. The boards of the two companies and 
the general l»>dv of tie proprietors were well satisfied with the 
results ol the working agreement which was established two 
years ago between the two companies, and they were working 
together in perfect harmony in carrying it out. They could take 
it from liini that then- was no foundation whatever for the 
rumour, which must hay, originated in Iln- imagination oi the 
gentleman w ho first set il going. 
The lion. ('. N. low kin, 1 seconded the motion, and it was 

ado,,,,, I. 

Buffalo and Lake Huron Railway — The hall yearly report states 
ilia!, after providing for interest on the first and second mortgage 
bonds, ih, available balance, including the amount brought for- 
ward from the previous h.ill-y -ar, will he £14, NX.-, enabling the 
directors 10 pay a dividend ol 5^- 3d. per share, and leave a 
balanc- ol /'i.oo; to he carried foryvard. as againsl £1,044 ' asl 
hallo.,,,,-. 



February 18, 191 1.] 



THE RAILWAY TIMES. 



.-- 



MIDLAND RAILWAY. 
The half-yearly meeting was held in Derbj on Thui 

The Chairman, in moving the adoption of th* report and 
accounts (an analysts ol which appeared in last Saturday's 
R.ut.ww I'imes), said that in the rep ■ was made 

to the fad that Mr. VVorthington, the engineer, had no new 
works on hand which were ol sufficient impoi 
specially mentioned. There was, however, an indication that 

11 lion work-, might 

Tiii: Proposed Bradford Lines. 
Il<- had mentioned at former half-yearly meetings tl 

ns were endeavouring 1 arrangement with 

the Bradford Cor] i ailway 

from a junction ai Low Moot with th( Lancashin and York- 
shire i" Bradford, and the abandonment of the auth 
railway from Thornhill Juncl 1 that .1 

satisfai ent had now been arrived at, and thi 

fnrd Corponition would support the abandonment • 
railways autl s was perfectly correcl on the larger 

point-. Inn there were -till one or two 

All this would entail, and was dependenl up 
Midland and I I 
shin- 1 • I he latter < - 

Thornhill Junction to I ow Mooi lunction npany. 

Mr. Vspinall, the general manager of th<- Lancashire and 
Yorkshire, and Mr. Granet, the general manager of the 
Midlai g< d upon thai agreement. The 

Midlan I authorised a railway . 

npany 's Swansea Vale railway 
ut Llansamlel to thi new King's D !■ Hie 

great difficulty in 
working th< al arising on the Sv 

Vale Swansea Docks for * hipment, the 

only ai through th< S 

tin- Swans II 
Trusti • -. I 

built ai . u's Dock, and this, together with the 

llierics were springing up .ill along the 
b lund io increase the amount i 

With such . 
■ 
their : ., u iih it, and tha 

this by wide 
and providing ad 

1 yard would invi iutla\ . 

and, v 

.11 thi- point 
to the 

ew parallel 
miles long, which would be I while 

enabli land the trafl K 

would f 
with . which 

IIASE. 

1 

the lii period under 

review 

holili • 

part which i 

v Ri vei 

Tham 

joining tin line 

I 

ment, would put t ' ' 

• 

had ! 
Midi 

an amount 
which 
which 



-1 their 
holding al par valu 

■ 

I . ■ ; 

that h id known all 

of tin proposed pun ■ i busi- 

- 
dii! so it woul ■ 

alike. 

. is. 

I 
class pass 
third-class p 

ol ^,2,029, ami third-class, in- 

. 
in season tickets was 5,602, and in 

- from passengi r traffic 1 >l all d< 
X-'7''. s 7' I parci Is and horses ^.'9,975, mails 
Ashb\ Light Railwa\ £136, am 
tions n merchandisi 

and in minerals j£j7*f,555- ' he nu 
run h\ merchandise and mineral 

during the h 

ninerals 14,646,122, 
making a total ol 
total receipts from 
£255, 

that would 

- 

£> io7' - ' 

jj\',^ ■ - 
an ini 

to 111 

HI I I . 

Mr. T\ 1 s 
which he thi 

In- -'a 

; 

I 

■ 

] I 



THE RAILWAY TIMES. 



[February 18, 191 i. 



The reporl was adopted, and the retiring directors (Mr. G. S. 
Beale, Mr. II. W. L. Harford, and Mr. J. W. Hills, M.l . 
v en n -eli < ted 

An extraordinary meeting of the shareholders was subse- 
auentl) held, ai which assent was given to the company s Bill 
m fori Parliament. 

EAST AND WEST YORKSHIRE UNION RAILWAYS. 

Th e half-vearh meeting ol the proprietors ol the East and 
West Yorkshire (anion Railways Compam was held on 
Februan 15 al Leeds. 

Mi. /.. Yf.wdali (chairman), in moving the adoption ol the 

md accounts, said thai the gross revenue receipts for 

If.year ml. tl December 51 amounted to £,10,405, as 

I, £;, ,6y6 for the second half-year in 1 « x >< 1- the 

working expenses were £"5,445, [ s compared with £.5,192, 

leaving a balance to net revenue of £4,060. The receipts 

showed a decline ol £291, whilst the expenses showed an_ m- 

| £252. There was, however, an improvement ol £21 , 

in the ami >unl a\ ailable for di\ idend. 

Dividends at the tate ol 4 per cent, per annum on thi 

ence stock auk 1 per cent, on the ordinal) stock were 

red and a balance ol fj,.'V ;s, 1 id. was carried forward. 

Mr. E. Sisterson and Mr. S. YV. Meyer wen re-elected 

din 1 tors for three years, and Mr. Ben I >ay and Mi . A. Armitage 

for two years. 

MANCHESTER SHIP CANAL. 

,\l the half-yearly meeting on Thursday, the Chairman (Mr. 

I K |Jvlhi-ll) - lid that ihi total Ship Canal receipts Uv the 

..,■, 1.555,735. The increase in the lirst four in. nulls ol 

show an\ expansion, but November and 

Decemln ; wen g I months. Dear cotton had seriousl) 

;u l\ ,1.11 i ol the year, as was show n b\ the fact 

up rts ■•! 1 otton foi the seas nded \ugust were 

5,267,00 1 ball -. as against 4,4X4,000 bales in the previous year. 
How serious was the depression was shown b\ the calculations 

iinet\ mill companies al Oldham lost £3X2. Fortu- 

nati h . ho'wi eer, a change came during the last thn 1 months 

ir.ir and, sing-ularh enough, it was owing to the pre- 

b, |i, I that the Am'erii an 1 rop would again be a small 

I . ,!1- i. sumi 1 work, and it was gi m ralh n ported 

thai Ihi \ wen under . ontracts For some time 1 in I he 

1 during the present season, which bewail on 

m |,er 1. were up to YVedm -la-. 152,00 , bales more than 

. ,,,„ dati last 1-1 ar. (Che 1 -.1 Thi expenditure of the 

. vviis £9,366 more .r,u\ w is largeh du, to In dgmg 

,i s howi il an in. reasi ol £12. 510, lull wagi s 

sanie amount ol work was over £0, more. 1 he 

em-king- profit of the whole undert; iking was £301,326, 

which, with interest, mad. ., net revem £3'" , 5> s 5-- The > 

,een able to pa\ all prior charts of £143,745 to pa\ the 
Manchestei Corporation the full interest due for the year— 

m.l to . am I. aw. ml £2,107. Prospects ol n - 

«-tivit\ were good, l.ui the crucial point fo- the cotton 

C-adi in ill I b. thi interregnum between the exhaustion ..I the 

il \. m c ri< an < rop and the advent .-I the new crop. \bout 

■■his opinions differed, but he believed that ii would not bi 

sullieient to keep the spin. II. s ..I the world working at full 

tin,, 1 I,, . ompam had begun thi \. ar well, and in [nnuary 

h ,d an mere is. ..I £5, :oo. Shareholders must not 

.,h the idea thai thi \ were lik< l\ to keep that 

is, ( „ii month but his own belie! was that thev would 

hav. ., yen I half-year. Merchants, he thought, did not 

il, 1 nm -i... ks in Man. hester to give ., n .1 

lb. 1. jm.ii bi ing I'n a then was n arket for 

Ii',,,,,, . in Man. Ii. sti r. Ph. Man. hi -i. ,- Cotton Assoi lation, 
; - inking steps foi tin formation ol a futures 
il seemed likeh thai the mark. 1 would shorth be 

FURNESS RAILWAY. 

Tin- hall yearly accounts to December ji, 1910, were issued 

on \\ . .In. .1 ii \ Om usual analysis is appended 
1 \ 1 1 1 \ 1 
["otal . ■■.].. nditurc . . . . . . . . . £0,922, 1 g 1 

total 1. . . ipt (alio. .it. d a, follows) . . . . '0,822 07. 1 

•. .. I. . . . . £2,042,000 

2,401 jOO 
ocl . . . . 1 .730,441 

I 'rem iii 111 . . . . . . . . i 



The expenditure in the past half-year amounted to £5.720, 
of which £1,869 was expended on lines open for traffic, '--| 
on working stock, and £3,636 on docks, stations, warehouses, 
eti Estimated further expenditure— In the current half- 
year, £7,150; m subsequent half-years, not yet determined. 
Capital powers and other available assets, £322,994. 
Revenue. 
subjoined is an abstract of the revenue account for the hali- 
5 ear mi. led I lecember 3 1 : — 

1910. 1909. 

Passengers, par... I- mails, 1 tc. . . £77.!58 ■ • 

G N. minerals, and live stock . . [96,007 . 1 

Miscellaneous 24.858 •■ 23.302 



£298,023 . £277,308 
"134.124 .. 144. ""7 



I otal n ceipts 

I otal expenditure 

Net receipts 

I lalani e from last h.di-\ . ai 

["otal net re\ enue 

I '1 ii .1 . harm-. . . 

Steamers' deprec iatii >n hind . . 

Preferem e dividends 

I n, i.lmi.l on ordinal v si. '. k 
Balance to next half-year . . 

total £145.422 . . £i34.o65 

, of 2} per cent per annum t At the rat. of 13 per c, nt per annum. 

The receipts for the pasl half-year show an increase ol 
the expenses an increase ol £9.4 2 7. • m ' 1 the IK ' 1 
,., eipts an in. rease ol mi 288 I he ratio ..1 expenses to 
eceipts is si 71 per cent., as against 52.18 per cent. 
I r \ 1 1 1 1 ETC. 
I I. ill yeai 1 nded I 'e. embi 1 11. ion 

Passengei 1 arried (total number) . . 1,734. 



£143,899 


. £132,611 


1,523 • 


1-454 


£145.422 . 


. j 1 54,065 


£47,629 . 


■ £47.251 


1,000 


4,000 


57.598 . 


57.598 


*33.° 2 5 


■-; ' 1 7 


;.i 70 


j,,.,., 



arried (total number) 
Sea son tii ke1 s . . 

Mm. h. m. lis, ((oils) 

Mini rals (tons) 
Mil. age lanes owned 
Partly owned 

Lines work.. I 

J'ot.d operated 

Train mill age- -Passenger 

t ! - 



!'a 



78 



11" 1 , 

M 



I9O9. 
1,641,