Our Indian Railways. Their Present Condition and Future Prospects; A Discussion. from the Friend of India and Madras Daily Times and Spectator. with ... the Selection of Beypoor for the Western Ter baixar o livro de graça

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated.1860 Excerpt: ... tell, but it is quite evident that the fair way of calculating is on the probable average cost as given by the Directors in their report. We should observe also that the Directors say this allows for "only 2000 a mile, for rolling stock;" probably such a traffic as is necessary to pay interest, will require much more than this, and as estimates are so generally defective, we may certainly assert that the completed double line with rolling stock sufficient for a paying traffic, will not cost less than Rupees 240,000 a mile, with double rails, or 210,000 with a single line; and 225,000 for a line half double and half single. This is abundantly sufficient to show that on the ground of capital alone, the Friend's calculation of Profits is totally fallacious. Even without including the accumulated interest as capital (and if we don't what is to become of it), and taking only the estimated cost as now given by the Directors, at Rupees 160,000, (supposing half the line single and half double), with a small rolling stock the capital is half as much again as is allowed by the Friend, reducing the nominal profits from 6 per cent to 4. Even were the cost of the part now opened only Rupees 105,000, it would be obviously fallacious to calculate from that; which would be taking the traffic on by far the most productive part of the whole line, with the capital as far below the average of the whole. If we take the average cost at what it will probably be, including accumulations of interest, viz. 225,000 Rupees, the present nominal profits are reduced from 6J per cent. to 3. But further we have another distinct and complete fallacy in taking the whole of the present excess of receipts over expenditure as profits. Every body knows that this is absurd--What would...