ABSTRACT
The bonds and shares of the railways of the United States form the most available investments or instruments of speculation for the people. Although paying four per cent, dividends, it is assumed that the stock of the Great Eastern Railway is not quoted at very high prices on the exchanges. In all railway tables there are found items of current accounts with connecting roads both debit and credit, cost of materials and supplies purchased but not yet used or charged to the respective operating departments, and the like, being things for which working capital must be provided. Again, when in straits for money, railway companies do not hesitate to pigeon-hole the bills for supplies sent them until the accumulated debts become large; and, if not stated in the balance-sheets, an untrue appearance of ease in money matters is given. The balance-sheets further show that the only bonds owned by the Great Eastern Railway are those of the Rich Valley branch.
