§ Mr. Shortasked the Financial Secretary to the Treasury what is the financial allocation to the various railway companies under the Railway Finance Corporation set up under the Railway Agreement Act, 1935. and the amount absorbed in each case?
§ Lieut.-Colonel ColvilleThe amount raised by the Railway Finance Corporation under the Railways (Agreement) Act, 1935, was £26,190,000. The railway companies borrowed this sum from the Finance Corporation in the following proportions:
£ Great Western Railway Company 5,435,660 London Midland and Scottish Railway Company 8,894,717 London and North Eastern Railway Company 5,929,811 Southern Railway Company 5,929,811 If by the amount absorbed in each case the hon. Member means the amount actually transferred in cash by the Finance. Corporation to each of the railway companies, I am afraid that the quotation of any such figures would be misleading for the reason that certain of the railway companies have, pending the actual expenditure from time to time of the moneys borrowed upon the works authorised to be carried out, left a portion of the moneys borrowed with the Corporation for employment.