Note 96 — SECTION XV. PROPOSALS FOR FIXING RATES BY RAILWAY COMMISSION— CONCILIATION COURTS.

The railways in this country are governed by directors who have shares in the respective undertakings, and represent the shareholders (assumed to be about 500,000), but generally their interest in the railways is relatively small compared with that which they possess in land, manufactories, collieries, ironworks, and commerce &c., besides which from their local connections, and as public men, they are keenly alive to the requirements of agriculture, trade and commerce, and in reality represent those interests to a much greater extent than is sometimes assumed to be the case.