UNDERGROUND RAILWAY GROUP.
Interest in Lord Ashfield's periodical statements at the meeting of the Underground Railway group always extends considerably beyond the actual stockholders of those under- takings. There are two points which impress the imagination in reading these statements. One is the enormous work and organization involved in the traffic problems of the Metropolis, and the other is the scant financial reward accruing to those who have supplied capital so many years for this great work. Indeed, for many years the ordinary stockholders of many of the undertakings received no dividends at all, and it has only been by economies, joined with excellent organization, that the finances of the organization are now gradually reaching a stage promising some moderate return to the holders of the Ordinary stocks. On the other hand, the financial manage- ment, especially in recent years, has been of a character which promises that ultimately the undertaking, even if it does not pay high dividends to the holders of the Ordinary stocks, will, nevertheless, be able to ensure-stability-in the maintenance of moderate dividends.
Previous page
