Sir Eric Geddes gave the House an agreeable surprise on
Tuesday by announcing that he had made terms with the railway companies. According to Lord Colwyn's Committee, the Government might be liable to pay £156,000,000 under the railway agreements. The Minister, however, had settled the claims of the British companies for £60,000,000 less £9,000,000 Income Tax—or £51,000,000 net. He added that " excess expenditure " amounting to £8,000,000 might have to be referred to the courts, and that a sum of £2,000,000 for the maintenance of railway plant sent to France was also in dispute. Sir Erio Geddes said that the settlement must be part of the coming Railways Bill, which will include the grouping of the companies and the representation of railway officials and employees on the boards. He had heard from the companies that they had come to " a, very considerable measure of agreement " with the railwaymen's unions.
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