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.