He was, however, in practice permitted to enjoy and accumulate chance earnings or savings, or a share of what he produced, under the name of peculium.
The earnings per train-mile vary greatly; but for all the lines the average is 7s.
The gross earnings of all the lines during the fiscal year I 9051906 were 7 millions sterling, approximately, and the gross expenses (including the payment of interest on loans and debentures) were under 31/8 millions, so that there remained a net profit of 31/8 millions, being at the rate of a little over 81/8% on the invested capital.
Such crude attempts as were made to prevent rates from being excessive concerned themselves with profits, and were designed to confiscate for the state treasury any earnings beyond a certain prescribed dividend.
It made provision for publicity of rates and for due notice of any change in rates; it forbade pooling of freight or earnings, and required annual reports from the carriers.