Track displacement and energy loss in a railway embankment

The mainline railway track between Dublin and Belfast was constructed during the 1850s, with substantial lengths of railway embankment constructed over soft, peaty soils. In recent years Northern Ireland Railways (NIR) has noticed that the sections of the railway track constructed on these peaty soils have been deteriorating at an increasing rate. Train speeds have been reduced in response to concerns that cyclic track displacements appear to be increasing over time in response to train loading. Track maintenance has also increased significantly. The research described in this paper was undertaken to quantify the response to cyclic train loading of two portions of this track founded on peaty soils. Track displacements were recorded using a sensor system specifically created for this project. The sensor consisted of a photosensitive array, mounted on the sleepers, and a laser, which was targeted onto the photosensitive array from a location outside the area of influence of train loading. Track deflections from 5 to 20 mm were measured under train speeds from near zero to over 120 km/h. The temporal variation in track displacement was used to calibrate an analytical (Winkler) model. This analysis suggests that the deformation of the embankment under train loading was not due to dynamic excitation but rather to static deformation of the poor-quality fill and soft foundation materials. As a consequence, the analytical model highlighted that train speed has limited effect on the magnitude of the deflection of the embankment within NIR operating speeds, but has the potential to significantly reduce the power lost to the damping within the embankment and subgrade.

Dispelling the Myth of the Naive Investor during the British Railway Mania, 1845–46

Anecdotal evidence from the British Railway Mania and other historical financial bubbles suggests that many investors during such episodes are naive, thus contributing to the asset price boom. Using extensive investor records, we find that very few investors during the Railway Mania can be categorized as such. Although some interpretations of the Mania suggest that naive investors were expropriated by railway insiders, our evidence is inconsistent with this view as railway insiders contributed substantial amounts of capital, and their investments performed no better than those made by other experienced investors.

Deriving the Railway Mania

This article argues that the promotion boom which occurred in the railway industry during the mid 1840s was amplified by the issue of derivative-like assets, which let investors take highly leveraged positions in the shares of new railway companies. The partially paid shares which the new railway companies issued allowed investors to obtain exposure to an asset by paying only a small initial deposit. The consequence of this arrangement was that investor returns were substantially amplified, and many schemes could be financed simultaneously. However, when investors were required to make further payments it put a negative downward pressure on prices.

Assessing Climate Effects on Railway Earthworks Using MASW

Many parts of the UK’s rail network were constructed in the mid-19th century long before the advent of modern construction standards. Historic levels of low investment, poor maintenance strategies and the deleterious effects of climate change have resulted in critical elements of the rail network being at significant risk of failure. The majority of failures which have occurred over recent years have been triggered by extreme weather events. Advance assessment and remediation of earthworks is, however, significantly less costly than dealing with failures reactively. It is therefore crucial that appropriate approaches for assessment of the stability of earthworks are developed, so that repair work can be better targeted and failures avoided wherever possible. This extended abstract briefly discusses some preliminary results from an ongoing geophysical research project being carried out in order to study the impact of climate or seasonal weather variations on the stability of a century old railway embankment on the Gloucestershire Warwickshire steam railway line in Southern England.