The Great Eastern Railway is in the Gazette at last.
A receiver has been appointed by the Court of Chancery, and the state of affairs seems to be briefly this. There is a net revenue of 900,0001. a year, of which 500,0001. is absorbed in the interest of debentures. There remains 400,0001. a year for preference and other share- holders, but there are debts amounting to 3,000,0001. The Court will pay these off in seven years, and till then allareholders must ..go without anything. They may of course pay their debts by further borrowing, but they will have to pay 240,0001. as in- terest, which will not leave them much. They may, however, keep up their hearts. This Reform Bill cannot block the road for ever, and when it le out of the way Parliament will perhaps be able to attend to them. Another failure or two,—and there are more to come,—will clear the atmosphere very much, and, meanwhile, who cares about the clergymen, widows, children, and -other uninfluential people who are ruined ?
Previous page
