BRITISH RAILWAYS
COST' OF STATE PURCHASE
ESTIMATE OF £1,000,000,000
LONDON, Nov. 19. The citv editor of the Daily Express estimates that the compensation payable by the Government for taking over the railways and canals under the formula announced bv the Minister of Transport. Mr. A. Barnes, in the House of Commons will be in the neighbourhood of £1.000.000.009.
| lie adds that the railway chiefs had ! hoped -that compensation would be ! based on valuation of fixed assets which, thev claim, would cost £2,000,000,000 1o reulncc to-day. Following Mr. Barnes' announcement on all-round adjustment in home rails (he stock quotations were made as soon as the market opened to-day. Jobbers quoted all prices “nominal” and little business was done early. Generally, jobbers put the quotations two to three points below the prices to be taken as the basis for compensation.
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Bibliographic details
Gisborne Herald, Volume LXXIII, Issue 22184, 21 November 1946, Page 7
Word Count
138BRITISH RAILWAYS Gisborne Herald, Volume LXXIII, Issue 22184, 21 November 1946, Page 7
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