Re-examined by Mr W. H. Gattie (7).

 3441. The Great Northern and City cost £851,000 a mile for the double tube, £425,000 for a single tube at pre-war prices. Now it is brought down to £177 per-yard post- war prices? --- Yes.

3442. How does the difference arise? --- I do not see how you can reconcile it? --- Yes.

Mr. Clode :  I think the witness said £300,000 a mile.

Mr. Burgess : That is 25 percent less.

The Witness :  Let us get it quite clear. You are speaking of the railway complete with lifts and ever?

3443. I am only following up what you said? --- The whole cost of the Great Northern and City Railway, including equipment ready for working, was £851,000 a mile.

3444. You did not say that before ;  you said the cost of the double tube? --- I was asked the cost of the tube railways in London.

3445. You did not mention equipment? --- No separate figures are published ; all I can say is £81 per-yard was the cost of the Great Northern and City Railway.

3446. This scheme will be no good unless it is a paying proposition, will it? --- It depends on what you mean by a paying proposition. If you mean simply paying a Company or Corporation for running a Clearing House I do not agree ; it would be well worth while to have this Clearing House even if it never paid a cent to its shareholders, because of the enormous savings it would mean to the country at large ; there is enormous indirect advantages.

3447. Another charge on the public exchequer? --- I did not say that. I mean it would still pay from the national point of view, even if did not get any direct dividend.

3448. That is what I say : the interest on the capital is to come out of the public exchequer? --- I do not think it will ; I think it will pay well.

3449. We have no estimates ; how can we judge? --- I think the figures are given in Mr. Roy Horniman's book.

 (How to make the railways pay for the war, The transport problem solved.)  Published by George Routledge & sons, Ltd.

3450. The Chairman : You are going to give us some figures of cost by letter ; would it convenient that you should obtain them, in case any question should arise upon those figures?

 --- I will do so.

Mr. W. H.Gattie :  He will attend when ready.

The Chairman : Yes, so as to give everyone an opportunity of asking him any further question.