The Sun.
London, England, 1853-11-19 00:00:00

Whilst the preliminaries of the Great North of Scot-
land Railway were on the eve of completion, quietly, but
surely, we had a good deal of discussion in this neigh-
bourhood respecting the relative merits of the direct line
from Inverness to Perth, and that to Aberdeen. Public
opinion was somewhat divided between the two ; but,
practically, although no one doubted that a railway di-
rect to Perth would be the most convenient and advan-
tageous to the inhabitants of the north generally,
among those who had money to invest the question
became twofold :—Who will commence a line to Aber-
deen ? and how can a line pay through so desolate a
country as that between Inverness and Perth ? No one
doubted that a line from here to Aberdeen, cheaply con-
structed, would yield a good return, and from the evi-
dence adduced by the projectors of the Perth and Inver-
ness line, there was a strong probability that on it, too,
a handsome dividend might be declared upon the esti-
mated expenditure. The state of the money market,
however, and the progress of the line from Aberdeen to
iluntly, have decided the course which alone can be
pursued at present. The Great North of Scotland Com-
pany have allowed then-powers, as respects this side of
the Spey, or of Elgin, to lapse, and have made no move-
ment for a revival of them. 'We must push on as rapidly
as possible, so as to be prepared for taking advantage of
whatever good fortune may hereafter befall us, and that
without suffering immediate loss. There is reason for
stating that the promoters of the Great North of Scot-
land are well pleased, as they cannot overtake more than
they have on hand, to find that the people of Inverness are
bestirring themselves. The first step determined on in
establishing railway communication with the south is to
construct a single line from Inverness to Nairn, and
which, it so happens, must form an integral part of the
lines of railway communication both between Inverness
and Aberdeen, and between Inverness and Perth. It is
brought out quite on an independent footing, and for
the public, who are so much interested in the perma-
nent result, the question simply is whether such a line
can be made self-supporting until such time as we can
afford to advance to meet the Great North of Scotland
Railway, and manage to complete a more direct access
by railway to the south ? Upon this point we can only
at present refer to the prospectus issued by the projec-
tors of the Inverness and Nairn Railway, in which an
estimate is made of the actual and anticipated traffic of
the district. The whole distance is but fifteen and a
half miles ; there is scarcely a brook to cross, and the
land between the termini is almost a dead level. The
construction of a railway here is, in fact, so easy that
Mr. Brassey, who has made more railways than per-
haps any man living, has offered to finish it, and to
erect the necessary stations and other works, for the
sum of little more than 4,0001. a mile. The exact sum
for the fifteen and a half miles is 65,0001., and it is no
slight testimony to the good prospects of the line that
this sagacious contractor offers to take 20,000/. of the
contract price in shares of the company. The total
cost, including the heavy items of land compensation
and rolling stock, is estimated at 85,0001., or about
5,5001. a mile. No railway in the kingdoms:far less
a trunk line— has been made at so small a sum ;
not even, we understand, the small branch from
Elgin to Lossiemouth, of which the success had
been so triumphant ; while throughout Scotland the
average cost of railway construction has been up-
wards of 30,0001. a mile. This difference in the pre-
liminary expenses is 'so striking that it is difficult to
select any line as a standard by which to estimate the
profits of that now projected to Nairn. If the
Edinburgh and Glasgow Railway, for instance, does
not yield so handsome a dividend as might be ex-
pected from the immense traffic between the two
capitals, there is no reason why we should not
look for a good return on the Inverness and Nairn
line; for the one cost about 46,000/, a mile and
the other will not cost more than 6,0001. a-mile. The
Elgin and Lossiemouth Railway, opened only last year,
connecting two not extensive towns, backed, however,
by a fertile agricultural district; and supported by an
active though small community, already pays a dividend
of five per cent. on the paid-up capital, and holds a
surplus by way of rest of about 2401.
The example of this little railway should certainly be
kept prominently in view when estimating the prospects
of a line from Inverness to Nairn, and we have little
hesitation in saying that it started with mush less
chance of success than that now projected. The goods
traffic on this line was not in full operation for six
months after the line was opened ; so that it is useless
stating the receipfs for an uncertain period ; but it is im-
portant to note that the passenger traffic exceeded the
original estimate by 60 per cent., and was steadily in-
crea,ing at the date of the report, which we published a
few weeks ago. In twelve months no less than 70,000
passengers went to and from Elgin and Lossiemouth.
Now, seeing that there was no constant public coach
running between these places before the railway was
started, it seems at least reasonable to suppose that the
passenger traffic in a district which now helps to support
three stage-coaches daily each •way, from January to
December, three steamers each way weekly, and innu-
merable other public and private conveyances, besides
foot passengers, should give at least as large a traffic as
this comparative bye-way. Yet the projectors of the
Nairn Railway have estimated the number of passengers
on their line at less than 60,000 a-year, and the other
traffic estimates are apparently on almost as moderate a
scale. Of this, however, the public may judge by refer-
ence to the prospectus. This is the present aspect of the
undertaking. When the line to Aberdeen is completed
the traffic on this portion will be materially increased,
while on the formation of the Perth and Inverness line,
accompanied as this work will be by a line from Inver-
ness northwards into Ross-shire, the great bulk of the
large traffic of the northern and central highlands will
be diverted along the favoured link in contemplation,
converting the shares into probably as valuable railway
stock, the promoters anticipate, as any in the kingdom.
Speculators must themselves decide upon the moderation
or extravagance of the estimated returns ; we do not
feel called upon to say one word more on the commercial
prospects of the scheme • but if men of business and men
of fortune can satisfy themselves that there is even a,
probability that the line will pay, in order to help for-
ward the establishment of railway communication be-
tween the highlands and the south, which greatly de-
pends upon the manner in which this scheme is carried
out, they ought to do whatever lies in their power to
support this line, and strengthen the hands of its.pro-
jectors. We cannot think that their patriotism here will
baulk their worldly prudence. It is
very gratifying that
the landowners have met the views of the promoters in
a becoming spirit. They have nlrnost, without excep-
tion, agreed to give their land at thirty years' purchase
of the existing agricultural value, without any charge
for severance, and, if desired, to commute their price
into an annual fau-duty. The tenantry, it is to be
hoped, will not be behind hand, and will, as is reason-
able they should, to a man, in like manner accept the
annual value by way of abatement of rent. In conclu-
sion, let it be kept in view that it is of the utmost im-
portance to the northern counties that this line, forming
as it does the key to our railway traffic, should be in
the hands of parties favourable to railway
_ extension in
all directions. This makes it peculiarly desirable that a
leaorngnee
that the northern public should avail
putoerdt,ionanodf the stock be taken up by parties locally
locally
andthemisne
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when
the field is open,
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Courier.
et the
successful
siognrbe.yr united and strenuous co-operation.—/nvernes