The Good Things of Railway Accidents
We have always thought that, except to lawyers and railway carriage and locomotive builders, railway accidents were great misfortunes, but it is evident we were wrong and we hasten to acknowledge our error. Speaking on Thursday with a respectable broker about the heavy damages (£2,000) given the day before on account of the Tottenham accident against the Eastern Counties Company in the Court of Exchequer, he observed, “It is rather good when these things happen as it moves the stock. I have had an order for some days to buy Eastern Counties at 56 and could not do it, but this verdict has sent them down one per cent., and enabled me now to buy it.” With all our railway experience we never dreamt of such a benefit as this accruing from railway accidents, but it is evidently among the possibilities.
—Herepath’s Railway Journal, June 7th, 1860.