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Reproduced from Daily Express 6 January, 1996
NatWest banks on Flying Scotsman
A BANK is laying claim to the world's most famous steam loco, the Flying
Scotsman.
The NatWest has had a brass plate with its own name screwed on the
first steam loco officially to record 100mph - because of an unpaid
£400,000 debt.
The loco, which is currently under repair at Southall, London, is now
jointly owned by rail enthusiasts Pete Waterman, the pop music
entrepreneur, and construction boss Sir William McAlpine.
The company they run, Flying Scotsman Railways Ltd., valued the
Doncaster-built loco at £1.25 million and put it up as security against
a loan from the bank.
The plate says: This locomotive is now assigned to National Westminster
Bank PLC.
"There is a mortgage on the engine - a guarantee against the bank
loan - but the bank does not own the Flying Scotsman," said Waterman.
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