Mr. Galt remarks:—“In the summer of 1857 the London and North-Western and
Great Northern railways contended with each other for the passenger
traffic from London to Manchester. First-class and second-class
passengers were conveyed at fares, there and back, of seven and sixpence
and five shillings respectively, the distance being 400 miles, and four
clear days were allowed in Manchester. As might have been expected,
trains were well filled, and, but for the fact that the other traffic was
much interfered with, the fares would, it is said, have been
remunerative. As it was, it is said the shareholders lost 1 per cent.
dividend.
“Another memorable contest was carried on about the year 1853 between the
Caledonian and the Edinburgh and Glasgow Companies. The latter suddenly
reduced the fares between Edinburgh and Glasgow for the three classes
from eight shillings, six shillings, and four shillings, to one shilling,
ninepence, and sixpence. The contest was continued for
a-year-and-a-half, and cost the Edinburgh and Glasgow Company nearly 1
per cent. in their dividends.”