The Number of Railway Companeis in Britain 1830-1910
People are sometimes astounded when I tell them that in the Victorian period there were over a hundred railway companies in Britain. Therefore, I just thought I would share the figures, as shown on the left. A 'significant' railway company is defined as those that had gross receipts constituting 0.25 per cent or more of the industry total.
 Arnold, A.J. and McCartney, S. ‘Rates of return, concentration levels and strategic change in the British railway industry, 1830-1912’, Journal of Transport History, 26 (2005), p.50