THIRTY MILLIONS

New Zealand Herald, Volume LXXII, Issue 22260, 7 November 1935, Page 14

THIRTY MILLIONS

LOAN FOR RAILWAYS DEVELOPMENT IN BRITAIN GUARANTEE BY EXCHEQUER NEGOTIATIONS CONCLUDED By Telegraph—Press Association—Copyright (Received November 6, G. 5 p.m.) British Wireless RUGBY, Nov. 5 A big scheme of railway development works extending over five years and costing some £30,000,000, for which a loan to bo guaranteed as to principal and interest by the Exchequer will be raised, has been agreed upon following prolonged negotiations between the Government and tho four main line railway companies. Only tho granting of tho necessary powers by Parliament is now awaited before this programmo of expansion and reconstruction is put in hand. In addition to the reconstruction and enlarging of many important stations and goods yards, the building of rolling stock, and tho laying of new branch and looplines, tho proposed works include,/ tho extension of tho automatic train-control installation, coloured light signalling and other safety precautions, and big schemes for electrification. When completed, tho electrical services from London, which already run to Brighton and Eastbourne, will extend to Portsmouth, Arundel and Hastings.