696 



TRANSACTIONS OF SECTION G. 



the ton-mile or the passenger-mile. In some respects the train-mile is the fairest 

 way of comparing costs, because when a train is running, whether it is full or 

 empty, the same service must be performed by the majority of the departments. 



Cost of Working per Train Mile of 

 Railways in England and Wales. 



99 1900 01 02 OS <V» 05 06 07 OS 



YEAR 

 Pig. 4. 



The curves bring out clearly that the proportion of the total expenditure per 

 train-mile absorbed by these several services remains fairly constant over a 

 series of years. To the right is exhibited the average for the four years 1905 to 

 1908. The figures are also reproduced in the following table : — 



Table I. 



Average Working Costs per Train-mile of the Railways in England and 

 Wales taken over the Years 1905 to 1908. 



Locomotive power absorbs an amount about equal to the traffic expenses; and 

 companies actually pay in rates and taxes a sum nearly equal to the whole amount 

 required to maintain the rolling-stock in an efficient state. 



To the right is shown a scale the divisions of which represent an amount 

 estimated in pence per train-mile corresponding to 1 per cent, of the average 

 dividend. This shows that if the whole of the locomotive power could be 

 obtained for nothing, the average dividend would only be increased by 1J per 



