Chapter V · Finance of Scheme.
Reading edition
Chapter V. Finance of Scheme.
Page 45.
Present averages per annum in round figures taken from Board of Trade returns 1911 and 1912:—
Receipts from Passengers £45,000,000
” ” Goods per passenger train 10,000,000
” ” Goods Train Traffic 64,000,000
” (Miscellaneous) 10,000,000
Gross Revenue £129,000,000
Working Expenses 81,000,000
Net Receipts £48,000,000
Total Paid-up Capital and Debentures £1,400,000,000
Net receipts show average income of 3½ per cent.
Total passenger journeys (of which 10 per cent. were 1st and 2nd class) 1,620,000,000
Average fare for each journey only 6½d.
Total tonnage of goods:—
Estimate per passenger trains 20,000,000
Actual per goods trains 524,000,000
544,000,000
Average rates per goods train:—
Minerals only 1s. 6d. per ton
General Merchandise 6s. ”
Both together 2s. 4d. ”
Estimate under proposed scheme:—
Page 48.
I. Passengers.—Assuming Main Line passenger journeys are 300,000,000, i.e., under 20 per cent. of the total passenger journeys.
300,000,000 at 1s. = £15,000,000
add 30,000,000 at 4s. for 1st class = 6,000,000
1,320,000,000 at 1d. = 5,500,000
add 132,000,000 at 5d. for 1st class = 2,750,000
Present No. 1,620,000,000 will produce £29,250,000
Increased number of Main Line passengers required to make up deficiency:—
250,000,000 at 1s £12,500,000
add 25,000,000 at 4s. extra 5,000,000
£17,500,000
Estimated total £46,750,000
This is £1,750,000 more than the present gross revenue from passengers and requires an increase of 250,000,000 = 15 per cent. on the total present number of passenger journeys.
II. Goods.
Total tonnage by goods train as now, viz., 524,000,000, at 1s. 6d £39,300,000
Ditto per passenger train, 20,000,000 at 10s 10,000,000
Live Stock, as now 1,500,000
£50,800,000
Increased tonnage required to make up present revenue, 48,000,000 tons at 10s. 24,000,000
£74,800,000
which is £800,000 more than present total receipts from goods per passenger and goods trains, and requires an increase of under 10 per cent. in tonnage.
Reasons for anticipating increase:—
(a) Of Passengers. Long distance journeys now restricted by expense.—Through tickets now counted as one journey will, under new scheme, be sometimes two or three, e.g., London to Londonderry would be three tickets—Every single journey taken, usually means also return journey home.
(b) Of Goods. Example of Post Office—Before Penny Post, average price per letter 7d., and letters carried 76,000,000. After Penny Post, first year number doubled; in twenty years, increased by eight times; about doubled every twenty years since. Before three letters per head of population, now 72 per head. Goods now sent by road motors will, with cheaper rates, go by rail—perishable articles, now not sent at all by fast train owing to expense, will be sent when rates cheaper.