The BTC came into operation on 1 January 1948. Its first chairman was Lord Hurcomb, with Miles Beevor as Chief Secretary. Its main holdings were the networks and assets of the Big Four national regional railway companies: Great Western Railway, London and North Eastern Railway, London, Midland and Scottish Railway and the Southern Railway. It also took over 55 other railway undertakings, 19 canal undertakings and 246 road haulage firms, as well as the work of the London Passenger Transport Board, which was already publicly owned. The nationalisation package also included the fleets of 'private owner wagons', which industrial concerns had used to transport goods on the railway networks.