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The New Zealand Railways Magazine, Volume 12, Issue 10 (January 1, 1938.)

Amalgamation of the French Railways

Amalgamation of the French Railways.

Big changes have been introduced in the French railway world, commencing Ist January. By Government decree, the whole of the railways of the country have been amalgamated, and a new National Railway Company set up, in which the State holds 51 per cent, of the shares, efficiency and economy in railway operation, with the ultimate aim of placing the industry on a profitable basis. The various individual transport concerns have put all their assets into the new company, and on the expiration of the company's charter in the year 1982, its assets will revert to the State without payment. The individual undertakings forming the new concern are to receive from the National Company annual payments to cover interests, guaranteed dividends and share redemptions. They are also being given shares in the new company in proportion to their contribution thereto of rolling stock, buildings, and other property. A Board of Directors is being set up, consisting of the Vice-President of the Council of State, the Governor of the Bank of France, the Director of Public Trust Funds, twelve representatives of the State, twelve representatives of the railway companies, two persons who have rendered eminent service to railways, and four employee representatives. Altogether, the French railways have a route mileage of 26,447, the Paris-Orleans-Midi system running to 7,365 miles; the Paris-Lyons-Mediterranean to 6,350 miles; Etat, 5,690 miles; Eastern, 3,207 miles; Northern, 2,400; and Alsace-Lorraine, 1,435 miles.