6 JANUARY 1923, Page 11

Under the new Act the profits of the companies above

a fixed amount will be returned to traders in the form of a reduction in rates. The rates will be regularly reviewed by the Railway Rates Tribunal. The more the companies carry the less they ought to charge. It must not be forgotten, however, that the competition between motor transport and the railway companies will be keener than ever before. We expect that the companies will have to reduce passenger rates further and sooner than they at present contemplate. Mean- while certain reductions, both for passengers and goods, came into force on New Year's Day. First-class fares are now 21d. a mile and third-class fares 11d.