Railways: Their Capital and Dividends, with Statistics of Their Working in Great Britain and Ireland, &c., &c., (Being a Second Volume to Mr. Stephenson's Work on Railways in this Series

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J. Weale, 1856 - 133 pagine
 

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Pagina 4 - These unfortunate results have not arisen from over estimating the revenue (which in almost every instance far exceeded the anticipations of the most sanguine), but from swelling the capital accounts far beyond the original estimates. This increase is traceable to various causes, the principal being the heavy sums expended in parliamentary contests; the exorbitant amounts paid for land and compensation ; extravagant outlay in construction ; ruinous guarantees, leases and purchases of other undertakings...
Pagina 8 - C offered to be purchased at eight per cent. But its directors, following in the wake of other companies, promoted several branches which it was thought would be valuable feeders to the main line. They have proved to be the very opposite, and have sucked it financially dry. The undertaking is consequently in a prostrate condition, paying no dividend, and its £100 stock now selling for £29. It would be an easy matter to adduce numerous other examples, but these will suffice. While the adverse influences...

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