Summary

William James Cunningham 1922 Encyclopædia Britannica — Railways

The reserve fund created by a railway from its excess earnings is to be held for interest charges or dividends in lean years, but whenever that fund is more than 5% of its property value, the excess over 5% may be used for any lawful purpose.
The problem of the weak railway has been for many years the principal obstacle in the path of a satisfactory solution of the railway question. In the determination of competitive rates, for example, a scale which will give a reasonable return upon the value of a weak railway will give too much to the strong railway.
Source: Wikisource

William James Cunningham 1922 Encyclopædia Britannica — Railways

After the Armistice, however, heavy costs were entailed under these and other headings, while the reduction of Government traffic to the relatively very small figures of the post-war period converted the profit of the war years into a serious deficit. The fact remains, however, that while the war emergency continued the bargain made was a very good one for the State, and it was only in 1918 that the, by then, generous wage and war-bonus concessions to the railway staff tended to convert the profit to the State into a deficiency—even then a relatively small one.
Source: Wikisource

William James Cunningham 1922 Encyclopædia Britannica — Railways

Leave travel was even more freely given, and the demobilization of the forces for many months placed a big strain upon the railways on the passenger side. National traffic on the goods side, too, remained heavy, as systems of control of food-stuffs, coal and necessities could not at once be discontinued, and was further complicated by the public call for the return of unrestricted transit conditions, for improvements in facilities, and for a resumption of the relative freedom of pre-war conditions.
Source: Wikisource

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