 The gross receipts for the year amounted to £3,464 19s 9d as compared with £2,998 18s 2d in 1912.The Railways Act 1921 was a measure by which the Government required all the main line railways of Great Britain to be "grouped" into four large companies; in this are the Great Western Railway formed one of the groups.The Lampeter, Aberayron and New Quay Light Railway was required to be absorbed by the GWR, and as the ordinary shareholders had never received a dividend they did not expect anything from the process.