BRITISH RAILWAYS.
NATIONALISATION SCHEME. LABOUR PARTY'S BILL. A. and N.Z. LONDON, April IX The Labour Party's Bill to nationalise the railways, provide* for the vesting of all railways in the Ministry of Transport within six months of the passage of the measure, the purchase, to be met by an issue of special railway stock to shareholders, calculated on the pre-war price of the. stock, but subject to reduction equivalent to depreciation of the stock during the war period, which is estimated at 30 per cent, It is proposed that the general direction of the railways shall devolve npen seven commissioners, threeappointed by the Government, three by the railway unions, and one by the Treasury.
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New Zealand Herald, Volume LVIII, Issue 17755, 14 April 1921, Page 5
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114BRITISH RAILWAYS. New Zealand Herald, Volume LVIII, Issue 17755, 14 April 1921, Page 5
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