The Stourbridge Observer, Cradley Heath, Halesowen & District Chronicle.
Stourbridge, West Midlands, England, 1866-12-29 00:00:00

A YEAR'S RAILWAY WORK.

Making every allowance for the undue diversion of
capital into railway investmenta under the influence of
a speculative mania, the rapid growth of the railway
system of the United Kidgdom to ill present dimen-
sions must be accepted as a remarkable proof of the
progrees of tlx• eatatcy.
_

.-
During the forty-one years which have passed since
Stephenson ran his first train on the Stockton and
Darlington line, the railways of the kingdom have
absorbed :100,000,0004 of capital, and extend over more
than 14,000 miles.
In 1865, for which the Board of Trade returns have
just been issued, the length of lines WM 13,289 miles,
of which more than a third were single lines, and the
rest double; this was an increase of 500 miles over the
preceaing year, and we may safely add another 1,000
miles for the two succeeding years.

It is more than probable that there will be a com-
parative lull for sone time to come in railway on.
au-notion. The MAID trunk lines have now been laid
not, and little more is wanted than links and branches.
There remains, however. abundant scope for the
energy of the companies in developing traffic on the
existing railways..
. . . . .

The istatiltic.a—of a year's work on the railways afford
• striking illustration of the constant activity of Our
busy population, as well as of the important part which
this means of communication plays in the social and
industrial life of the nation. In 1865, 3,448,300 passen-
ger trains. carrying 251,862,15 passengers, travelled
71.206,818 miles, while 2.108,198 goods trains trans-
ported 15,179,000 horses, doga, cattle, and other stock,
77 805 786 tons of minerals, and 36.787,638 tons of
ger eral merchandise over 68,320,309 miles. Thus,
takkg passenger and goods trains together, it appears
that they travel in the twelve months as great a
distance as from the earth to the sun, and about half
the way back again. In order to to this the companies
had to keep • rolling stock of 7,414 locomotives. 17 9..17
passenger coaches, and 'l3' 3,260 goods waggons. trucks,
3tc. 'this, together with the coat of permanent way,
management, servants, lawyers' bills, and compensate
tion for accidenta. involved an expenditure of
17,211,001 Y. On the other hand, there was received
for passengers' fares 16.572,000/.. and for goods
19,318,000/. together 35,890,000/., which leaves a
balance of profit for the companies of about
18,679,0001.
There was another expenditure, however, which
twist he reckoned too. It is represented in money as
333,533/. for compensation (more than twice as much
as in 1864). and comprises the loss of 221 live. and the
iajary of 1,132 Fersow. The companies, however,
acknowledge their responsibility for the destruction of
only ZS of these victims and the wounding of 1.034
others; these came to grief through what is euphuis-
finally called "causes beyond their own control."
The rest suffered either through their own negligence
or because they were where they had no businses to be,
or were only servants of the companies. There is a
list of 122 of the last-mentioned class killed and 83
injured; but the companies are not compelled by law
to send a note of such trifles to the Board of Trade (on
the principle, we must presume, that they are entitled
to do what they like with their own), and it may be
safely concluded that this list is very far from being
complete. The causes of all this slaughter and maim.
ins demand a separate investigation.
re. . . .

_
In 186.5, the year in question, the total authorized
capital of the British and Irish railways was
578,425,0001., of which 358,362,0001. had been paid up.
On the last day of the year there were outstanding
debenture loans to the amount of 97,821,000/.
What is implied by the railway interest—its bold on
the country and monetary value—may he gathered
from the following statistics :—The first railway in the
United Kingdom in length and revenue is the London
and North-Western, extending over 1,271 miles, and
drawing 6.276,879/. of annual receipts. Next comes
the Great Western, 1,256 miles long, with 3.585,614/.
of annual receipts ; followed by the Narth•Eastern,
1.205 miles. and 3.529,18/. annual receipts; the Great
Eastern, 756 miles, and 1 690.2691. receipts; the
North British, 723 miles and 1,309.865/. ; Midland, ;PO
miles, 2.728,131/. ; the London and Sonth•Westerv,
376 miles. and 1,477,843/. • the Caledonian, 494 miles,
and 1,432.4751. ; the Lancashire and Yorkshire, 431
miles, and 2.1511,6431. ; the London and Brighton, 431
miles, and 1,055,116'.; the London, Chatham, and
Dover, 132 miles, and 446,896/.
The profits of railway work, however, are not neces-
sarily in proportion to length of mileage or amount of
revenue.
The average dividends on ordinary stock for 1845
were—Greeit Northern. 7g ; London and North
Western, 6fi: North-Eastern, 3 to ltd; Lancashire and
Yorkshire, 5( ; Caledonian, 51 to 7); Midland, 51 to
; London and Brighton, 51; London and South
Western, 5; South-Eastern, ; Great Western, I'o2
to 4:10; North British, nd to 4i (in this cane dividends
being "cooked" out of capital); Great Eastern, nil;
London, Chatham, and Dover, nil. Some of the
smallest lines in the country pay the highest dividend,
as, for instance, the Whitehaven, Cleator, and Egre.
moat, ten miles, 10 per cent. dividend; Whitehaven
Junction. 13 miles, 10 per cent.•. Furdese, 53 miles, 10
per cent.; Taff Vale, 76 miles, 9) per cent.: Blyth and
Tyne, 36 miles, 9.1 per cent, There were 91 railways
in England, 28 in Ireland, and 11 in Scotland which
paid no dividend at all in 1865.