. American railroads and British investors . donvard. The Liabilities were ascertained by the well-known combination of the Instituteif Actuaries HM (5) and HM Tables of Mortality, with only 3 per cent, assumed as theate of Interest to be in future earned by the funds, which are acknowledged to be veryigorous data for the purpose. Provident Inveslmeiit of . .. the Soundest Character. pRUDENT Persons contemplating Life Assurance, and desirous of doing so with the utmost advantage to themselves and their families, are invited to read the New Prospectus of the SCOTTISH ^^^^ 1815. WIDOWS^^ FU
. American railroads and British investors . donvard. The Liabilities were ascertained by the well-known combination of the Instituteif Actuaries HM (5) and HM Tables of Mortality, with only 3 per cent, assumed as theate of Interest to be in future earned by the funds, which are acknowledged to be veryigorous data for the purpose. Provident Inveslmeiit of . .. the Soundest Character. pRUDENT Persons contemplating Life Assurance, and desirous of doing so with the utmost advantage to themselves and their families, are invited to read the New Prospectus of the SCOTTISH ^^^^ 1815. WIDOWS^^ FUND ,ooo. v^ I ^ i.^ ■ The Prospectus contains full informationregarding this great Mutual Institution, includingthe mode of dividing the large Profits realized,the System of Options, and the Various Privilegesattaching to its Policies. Application should he made to I o n d nn ^*^^^^--^^• ■-(WllVIWIljg, WATERLOO PLACE, AMERICAN RAILROADS AND BRITISH INVESTORS. BY S. F. VAN OSS, AUTHOR OF AMERICAN RAILROADS AS LONDON:EFFINGHAM WILSON & CO., ROYAL EXCHANGE, 1893. .(^ AV VT .\^ SffifCKfclS CONTENTS. CHAP. PAGE. I.—The American Kailroad of To-day - 1 II.—American Eailroad Finance - - 26 III.—Capitalisation 36 IV.—Rates and Revenue - - - - 56 V.—Revenue and its Application - - 87 VI.—Securities and their Returns - - 108 VII-—Summing up the Case - - - - 130 VIII.—How TO In\:est 154 Appendices. 1 191 1 Digitized by tine Internet Arciiive in 2008 witii funding from IVIicrosoft Corporation PEEFACE r I iHE favourable reception accorded to my recent workon American Railroads has induced its LondonPublishers to suggest to me that I should write anothervolume of less formidable dimensions,—an abbreviatedpopular edition, as it were. I have the more readilyaccepted this proposal, because the scope of the largerbook precluded me from entering as fully as was, perhaps,desirable into var
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