YORKS-LANCS. LIGHT RAILWAY.
Page 7
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Objections by the Commissioners.
Prelimieary negotiations have been on foot for some time with a view to powers being obtained for the construction of a light railway 23 miles in length from Ilellifield in Yorkshire to Longridge in Lancashire.
In view of the attention which is likely to be paid to this method of developing tracts of country as a part of a national movement after the war the opinions of the Light Railway Commissioners as to the granting of an .Order which will enable the scheme to proceed are interesting.
Pointing out that the money values adopted have been taken without refer'Once to the cost either of constructing or of working a railway or of transport charges generally/which may be consequent on the war, the Commissioners show that the estimated cost of construction of the line was about 410.000 a Mile. After . considering the immediate possibilities of the district the Commissioners state that the traffic "now in sight" would neither justify the cost of making the railway nor pay the cost of work
ing it. Nevertheless the promoters anticipate a great influx of passenger traffic with the making of the line.
The Corbmissioners naively remark, however, that the estimates of future traffic and development can, never be matters of certainty, but they are willing to assume for the present purposes that if the stipulated changes, hi the character of cultivation take place and that the line was worked with the greatest economy, a return should be forthcoming to pay a sufficient rate of interest on a line costing 46000 a mile. They therefore conclude that from the foregoing it appears that, in order to proceed, the promoters have to obtain out of pubiie money, or otherwise, such a sum (bearing no interest) as will rover the difference in cost between 46000 a mile, and their own estimate of 410,000 a mile—nearly 4100,000.
Subject to the reservations as to' economic fluctuations if the promoters could see their way to modify the scheme as to reduce the capital cost to about 46000 per mile, or if as an alternative they could obtain the premise of a subsidy from public sources to ,over the additional cost beyond the sum the Coramisioliers would be prepared to submit the Order to the Board of Trade, but otherwise the Commissioners frankly admit the prospects of the scheme would hardly justify them in granting the application.