Excerpt from Earning Power of Railroads In the following pages we present important statistics and other facts relating to the earning power and to the securities of railroads, arranged in convenient form for ready reference. The statistics are given for practically all the important railroads in the United States, with a few others, the securities of which are known, in a greater or less degree, to American Investors. The Introductory Chapters explain in a general way the fundamental principles which must be applied by the investor to inform himself as to the value of the stocks or bonds of any railroad. The Tables, which give vital statistics regarding earnings, mileage, capitalization, tonnage, etc., are designed to present the statistics mentioned in such a way as to permit of easy comparison between those of each railroad. The Notes give information as to dividends and such other information about the railroads' capitalization, investments, physical and financial condition, etc., as appears to be of direct interest to the investor. The official annual railroad reports have been used almost exclusively in the preparation of this book. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.