Page:The Working and Management of an English Railway.djvu/252

 unfortunate state of things which prevailed was to establish a central office, founded somewhat upon the lines of the Bankers' Clearing-house (which had then been established more than half a century), and which should receive the returns of through traffic from all the companies, impartially make the apportionments, and declare the balances due to each. The scheme thus outlined met with the warm approval and support of Mr. Glyn, who was at that time the chairman of the London and Birmingham Railway, and, after sharing the fate of every innovation or reform in encountering a great deal of opposition from various sources, it was finally brought into operation. Like most great institutions, the Railway Clearing-house had a very humble commencement, for it began its operations with a staff of only four clerks, and dealt with the traffic of only four railways, controlling an aggregate mileage of 418 miles; but its growth has only been paralleled by the growth of the railway system itself, and the magnitude of its operations may be judged by the fact that it employs at the present time a staff of not much less than 2,000 persons, and deals with the traffic of all the railway companies in Great Britain, having, in the aggregate, nearly 17,000 miles of railway. If we add that during the year 1887 the number of traffic settlements made was 9,000,000, and the value of the receipts dealt with was £16,500,000, we shall have said enough to give a fair idea of the extent of the business carried on in the vast building in Seymour Street, Euston Square, where the Railway Clearing-house has found a home.

Since the year 1850 the proceedings of the Railway Clearing-house have been regulated by Act of Parliament