770 BEPORT — 1886. 



threatens to overtake tbem. On English lines in 1885 about 36,500,000Z. of 

 ordinary railway stock received no dividends whatever, and 14,500,000/. received 

 less than 2 per cent. These two items together make up 20 per cent, of the total 

 ordinary capital of English lines. This was certainly not an adequate result for a 

 system that had the largest volume of both gross and net receipts, the cheapest 

 materials of construction, and nearly, if not quite, the highest range of rates and 

 fares. 



In conclusion the author referred to the following as among the sources whence 

 economy of working and consequent increase of dividends, or reduction of rates, or 

 both together, may be expected in the future : — 



1. The adoption of a slower average rate of speed for goods trains. 



2. The reduction of tare, so as to allow of a greater ' live ' or net load being 

 carried relative to the weight of the vehicle employed. 



3. The adoption of heavier loads, or, in other words, the running of fewer 

 empty waggons and carriages, and possiblj- fewer trains. 



4. The avoidance of duplicate trains from practically the same termini, for 

 practically the same destinations. 



5. An endeavour to redress the differences in the balance of goods sent in 

 opposite directions. 



6. The transfer of a great part of the heavy traffic to the canals, or an increase 

 in the number of special lines provided for such traffic, so as to get rid of the loss 

 of time and capital involved in shunting to make way for passenger traffic ; and 



7. The publication of railway accounts on a principle that would allow of the 

 ton-mile rates being ascertained as regards both cost and profit. 



4. Canals. By Marshall Stevens, F.S.S. 



Importance to commerce of means of intercommunication. Increasing 

 necessity for economies in transit. Altered conditions which manufacturers are 

 compelled to recognise. To-day when production is not confined to England alone, 

 and when supply overtakes demand, the cost of carrying raw material from the 

 seaboard to the manufactory and of the manufactured article back to the seaboard 

 has become so vital a factor as to change the possibility of profit into the impos- 

 sibility of competition. Impracticability of suggested movement of manufacturers 

 to the seaboard. 



Such a movement of English industries would scarcely stop at the seaboard 

 but extend to lands over the seas, tempted by cheaper labour, cheaper transit, and 

 the protection of tariifs hostile to English manufactures. 



Maintenance of commercial status of England depends largely on provision of 

 facilities at least equal to those enjoyed by competitors. 



The method of the development of the English railway system has led to the 

 crippling and practical strangulation of the essentially cheaper canal system. 



It is imperatively necessary that our canals should be made available for our 

 present necessities. 



Period of the inception of the English canals. 



The impossibility of canal competition against railways under existing 

 conditions. 



Illustration of the measure of ignorance with regard to English canals. 



Fully one-half of the mileage of English canals owned or controlled by railway 

 companies. 



Railway control of canals inimical to public interests. Railway acquisition of 

 canals in spite of the express prohibition of Parliament. 



Misleading figures published by railways as to the paying capacity of canals. 



Reasons why railways do not adopt a policy with regard to their canals more 

 consistent with the public interest. 



Much greater cheapness of canal transit as compared with railway transit. 



Examples of the few English canals which have been worked in the public 

 interest. 



