High Quality Content by WIKIPEDIA articles! Due to the First World War the economic situation had declined in the Netherlands, and the railway companies started to lose money. The railway companies were considered of great importance and thus letting them slip into bankruptcy was not an option. The companies thus started an intensive cooperation in which their operational activities were completely integrated, even though the companies themselves remained independent entities. To financially support the companies, shares were bought by the Dutch government. In 1938 the government merged the HSM and SS into the current company, the Nederlandse Spoorwegen. The government bought the remaining shares, but never nationalized the company. Therefore NS remained (and still is) a private company with the Dutch government as sole shareholder.

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