In Belgium, out of a total mileage at the end of 1884 of 2,711 miles, the State owned 1,930, or more than 71 per cent. of the railways. The outlay upon this mileage was as under:—
| (a). | Cost of railways actually purchased | £36,668,915 |
| (b). | Amounts payable by annuities | 12,442,804 |
| (c). | Capital expended on lines worked by State | 3,900,653 |
| £53,012,372 |
The interest paid by the Belgian Government on the above capital outlay was—
| (a). | 4 per cent. |
| (b). | 4, 4½ and 5 per cent. |
| (c). | 4¾ per cent. |
The gross receipts on the State railways for the year 1884 amounted to—
| Coaching | £1,620,565 |
| Goods | 3,088,108 |
| Sundries | 98,971 |
| 4,807,644 | |
| and the expenses to | 2,871,268 |
| leaving net receipts | £1,936,376 |
Upon a capital outlay of £53,012,372, these figures give an average dividend of nearly 3¾ per cent. It would, therefore, appear that the working of the State railways results in a loss to the Government, which the public have to make up by increased taxation.[53]
In Holland also, the railways are owned to a large extent by the State, to which belong 797 miles out of a total of 1,617 miles. The State does not, as in Germany or Belgium, work its own lines. It leases them upon certain conditions to companies, viz., to a Company for working the State railways and to the Holland Company. The companies provide the rolling stock and staff, and maintain the line; but they do not execute “works of art” or repairs arising from circumstances over which they have no control, such, for instance, as war, inundations, landslips, &c. Materials for the execution of works have to be conveyed at a very low rate. All rates must be submitted to the Minister of Public Works for his approval; and the mails must be carried free. From the gross receipts are made deductions at the rate of £67 per mile of single, and £134 per mile of double line per annum, which serve as a fund to cover repairs. Eighty per cent. of the remainder is retained by the company. The balance of the receipts belongs to the State. If, however, the company’s percentage, plus the deductions, do not amount to £644 per mile, the gross receipts are so apportioned as to yield that amount. If the net profit of the company exceeds 4½ per cent. upon their capital, the surplus up to 5 per cent. is divided equally between the State and the company; and any further surplus, is distributed in the proportion of four-fifths to the State and one-fifth to the company. The total capital expenditure on the Dutch State Railways to the 30th June, 1885, was:—
| On lines worked by the Company for working the State Railways | £15,958,328 |
| ” ” Holland Company | 3,477,914 |
| £19,436,242 | |
| ============== |
The amount received in respect of dividend or interest for the year from both working companies was £158,170 or about ·81 per cent on the capital involved.