65. Colonel NEWMANasked the Minister of Transport whether he has now been able to read all or any of the reports made to the owners of railways by the chairmen of their boards during the past few days; whether, in every case, the chairman has reported that if the subsidy from the taxpayer be withdrawn the properties will be unable to meet even their fixed charges; will he say if he agrees with these considered statements by experts; and will he urge on the Government the necessity for the introduction and First Reading of the Railway Bill without any delay?
§ Sir E. GEDDESI have been able to read some of the speeches of the chairmen of the railway companies, but not all of them, as there are 114 controlled companies. I cannot, therefore, reply to the second part of the question, but if my hon. and gallant Friend is correct in his suggestion, I entirely disagree with it. As regards the last part of the question, I refer my hon. and gallant Friend to the recent statement of the Leader of the House on the subject.
Colonel NEWMANHas the right hon. Gentleman read the speech of the chairman of the London and South Western Railway Company in which it was stated that if the railway subsidy were withdrawn the companies would not be able to redeem their debenture stock?