main line to Fort William opened during the summer season of 1894, but doing so had been expensive, involving excessive construction costs against the contractor's advice in the difficult winters of 1892-3 and 1893-4. Moreover, the Banavie branch would not open until the following year (1895) and total construction costs exceeded £1 million, nearly double the estimate. By now the North British Railway was the banker for the West Highland, but some pretence of independence was retained, to avoid a repudiation of the financial support by the Treasury. The total revenue of the West Highland Railway in 1896 was £45,146. It climbed to £69,626 in 1899 and eventually to £92,260 in 1901 (), but it was always heavily loss-making; the losses were made up by the NBR. Quite apart from the NBR's obligations under the guarantee, loans had been granted to the WHR; by June 1902 the WHR owed £1,206,463 (). Extending to Mallaig Although on salt water, Fort William was too far from the open sea to be useful as a fishing base, and the idea of a westward extension was revived. Loch Nevis was considered an ideal location from the shipping point of view, but the intermediate land would have made railway construction exceptionally difficult, so the West Highland Railway reluctantly settled on Mallaig, less than 40 miles from Fort William. It was clearly unlikely that the extension could be profitable and the NBR (as the only viable private provider of the necessary capital) made it clear that it would only invest if Government subsidy were made available. A Treasury Committee examined the possible railways—not just the Mallaig line—and recommended Government support for the line, although Mallaig "could only be recommended for want of a more favoured position being attainable." The North British Railway had supported the first part of the West Highland Railway for commercial reasons, but it was now concerned that it would be expected to pick up the loss of the Mallaig extension, and it considered a loss to be inevitable. Nonetheless commitments had been given, and on 28 April 1892 the NBR agreed to work the extension of 50% of gross receipts, and that it would continue to support the line when the Government guarantee of 3% on capital over 25 or 30 years expired. Considerable negotiation with Government was necessary over a protracted period in regard to the subsidy, and the matter was