LONDON TRAFFIC PROBLEM.

Poverty Bay Herald, Volume LI, Issue 16869, 26 October 1925, Page 8

LONDON TRAFFIC PROBLEM.

UNDERGROUND GOODS TUBES. £32,000,000 SCHEME. LONDON. Sept. 10.—Details have been issued of an ambitions and fnrreaching scheme for dealing with the goods and parcels traffic of London by underground railway. By the saving of time thus brought about it is claimed that a wastage of £200,000 will he prevented daily, while, in addition, the streets would be restored to conditions of mobility comparable to what they wei’o bofore the increased volume of motor traffic came into being. The scheme, which is an AngloAmerican one, involves a capital of £32,000,000, already arranged for and throughout each of the three years during which the railway will be under construction it is estimated that the project will directly and indirectly provide employment for some 50,000 men. The aim of the promoters is to link up by underground eloctric.railway all the principal London goods terminals, markets, trade! centres, and the London Docks, this network of communications to be controlled by one central distributing station in the heart of the* City. The details of the project are now receiving tins consideration of the railway through a committee representative of the four great railway groups. The provision of llie capital of £32,000,000 required for the construction and equipment of the railways lias been arranged through the co-operation of important American and English banking houses, under conditions which provide for the distribution of the issue between the two markets. It lias been arranged to form a promotion company, with a nominal capital] of £IOO,OOO, for the purpose of obtaining tlm necessary statutory powers from Parliament.