Operation
The Somerset section of the canal was suitable for tub-boats, which were about 20 feet (6.1 m) long and capable of carrying eight tons. The Devon section was suitable for larger broad-beam barges, carrying up to 40 tons. Income from tolls increased steadily from £971 in 1835, rising to £2754 in 1838 and £4926 in 1844. At this point, competition from the railways started. The Bristol and Exeter Railway reached Taunton in 1842 and Exeter in 1844. A branch to Tiverton was opened in 1848, and although the canal company received £1200 for loss of trade while an aqueduct was constructed over the line of the railway, deficits started to mount up almost immediately.
In 1853, with income no longer meeting operational costs, the canal was leased to the Bristol and Exeter Railway. From 1854, the company started to pay a dividend to its shareholders of 0.2%. Just ten years later, an Act of Parliament was obtained to sell the canal to the railway company and to abandon the Somerset section of the canal. The transfer took place on 13 April 1865, and the tub-boat canal was closed in 1867. The lifts were dismantled, and most of the route sold back to the original landowners.
Read more about this topic: Grand Western Canal
Famous quotes containing the word operation:
“An absolute can only be given in an intuition, while all the rest has to do with analysis. We call intuition here the sympathy by which one is transported into the interior of an object in order to coincide with what there is unique and consequently inexpressible in it. Analysis, on the contrary, is the operation which reduces the object to elements already known.”
—Henri Bergson (1859–1941)
“It is critical vision alone which can mitigate the unimpeded operation of the automatic.”
—Marshall McLuhan (1911–1980)
“You may read any quantity of books, and you may almost as ignorant as you were at starting, if you don’t have, at the back of your minds, the change for words in definite images which can only be acquired through the operation of your observing faculties on the phenomena of nature.”
—Thomas Henry Huxley (1825–95)