The Statistical Reporter. A Monthly Journal of Statistical Enquiries Concerning India. Calcutta Thursday 15th September 1870

If they amount to less than the sum due for guaranteed interest such an addition is made to them from the revenues of India as makes up that sum if they amount to more half the excess is added to the dividend of the shareholders and the other half is applied to the repayment of the sums' previously paid by Government on account of guaranteed interest ; if the receipts should not reach the amou [...] Danvers' Report for 1859 show the nature of the supervision exercised by the Government for the protection of the public interests :— " The supervision is exercised by the Government both in this country and in India An Official Director is appointed who attends ' each board of the Railway Companies in London and posesses under the deed of contract a power of veto on all the prceedings of [...] Under the above will be included the general direction of all lines of railway the position of stations the general arrangements of the more important stations and works ; but after the general sanction of the Government has been given to any project all questions of detail may be disposed of within the limit of the original sanction by the consulting engineer. [...] The consulting engineer shall submit to the Secretary of the Government a weekly schedule ohis proceedings in the usual form in which shall be explained concisely the nattire of all sanctions or directions given under the authority now granted to him." " The guarantee being without limit it leads in spite of the best intentions to the removal of much of the cheek on proper economy in constr [...] The conditions under which the Government is liable for the repayment of the capital sunk in these works either at the option of the shareholders or of that of the State are the same in all.