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The property to be dealt with consists of 3411 miles of railway, representing a total capital of £45,163,000, of which, at the date of the Report of the Commission, £2,873,000 paid no dividend; the gross annual receipts of the whole system being £4,255,000 and the net receipts £1,690,000, representing a return on the whole capital of 3.77 per cent.
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