New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-06
Austin Friar,, and stocI Exchange, LOI
CRACRQFT'S INVESTMENT TRACTS.
AMERICAN RAILWAYS As INVESTMENTS.
Bv ROBERT GIFFEN.
EYTRACT PROM NOTICES or THE PRESS ON FIRST

fDlliON.
most careful nQuir, the position the American Railway
. The present condition ana future prospects d
knowledge little TO be desired ISpectstor win enable
R Rs InSasimen n-IGo6e May be trusted az
faithful medium for studying she American k1"ay s'siem,
mere The c6nnustcn admirable Of Investment
Aain FnsTs London wsEeested Brighton
Record Puhcanor which have made for themselves name IN The
leighton Burlnrd Observer "vsleahe he Echo
importance 10 English uveslors'W Western Daily News Clear
general pubic Halifax Confer "PurpOe fair, honor
able, aud immensely important ono ana Is Gsoss,eo ~aIn
Characteristic Of the production ZINES on
bonds constitute exceptionally safe and nunerase investment
Soh British R MAJ scl Gs9 sEs @ G 10 b a. .1 Of o1e g
peo only invest the highest safety
Elaborate and vel executed" labor research Clifton
adyeytsef Teens with useful Exchange Re
view wen the PeTasa OF capitalists and inye,O -
lSorh British Dniv Mail verv able Indispensable neees-
I%cs taSC[,,f s.G'iSs R..,' Sss so
very sound advice succinel history elrege.. Of Amen
Resq Of great tnoviedse ana eIperience apeosy
EIcebtrI morgan Gazette "Wouh strongly reeonreni
Mercantile Advertiser, Classy supplies large aasq9' Of
IRsvay Admirably written Edinburgh ccuant De
psmphet"l Argus and Express Aj Admirable ,rease'iStr
ford G'os ~ no a s FyoFe Sa S ~ 70.
e and Rotterdam and Mssborough Advertiser The
Auhorl understands what he wiring about Examiner
recommend English investors ad' With discriminating
1se resources and attraction. Of Amenean
An immense amount Of patient Express
one g re Know ome,hpe 81 The United STATES Aaseab RalTays
win probably difficulty getting Of infor
nation than this pamphlet c0a'ans -A Oosee That The value
Chronicle Shows that The American profit nearly Ga
l. railway not one per cent has desueJ he payment
Of CARTE To many n Will sound strange Tat
vOraby with those Of 'hs eouIiry-Cue comprehensive
secured Justly iniers that an investor At random IN Amcn
part which he calculated aud must be remembered
that this svIS PEI eeo and upwards 95 nee1f. EVEN EAR ~
RaEsTs lave been End must be increasingly sf and profitable invest
meuts English capitalist
holder sgi rather sonaoaG ~ american h,ssy
rally much more BOsisole BY comparison than those Of
s P sbn.0 ob.Iver The IRE and Ati.nc and Great
sSs United States - Peerbor5ush AiyertiseT.
knew where might De securely Comfy Mirror
p.nt stsiesn from ae figures collected by Nj Bems1d era
eon Of TIE London STOCK EIehsRg has Just been Issued in neatly
iamsI having dealings With the Market
which he has materially prove acceptable
to those who desire to inform thne. win accuracy h rail
the British public The American railway
Wesiern those undertakings coupled with lnoi.
large dividends which opinion would
yield investors seven per cent with graf and even greater security
enable readers Odge for themselves the Of opinion
her cost chse. &C. sSaaied 50 hat by careful .udv Of the
woudee inform themselves the financial
upon investment, 10 ihem"~i Bristol Mercary
About fortnight under The beading OF Foreign and Colonial
which appeared interesting arnce IN The Spectator
Of the previous weet and which ae from wt with the above
London Broker In advertising 81
pa will be found The o. preface
eano1 Which Is one o. ga' pfseus interest as WI BE setn from the
they he misunderstanding information subject seNi
sten Of acknowledged ability aDd a'snmeut The points htt
manly touch the Bnghsh reader and which this work Will fully
n him upon, the and prospects and Of
shcan railway .'sem a. slstm IN which tno. that We
bsye pretty well completed de British public may.
pc, Tt annual savings The United States, We
are tod viii a. the their po-ivel,
le neI th Win this gigantic probability before saws Mr.
sioi ID ne preface and loofg the IN. question
nave PROPOSED Tor investigation following What relative
security what the returns I6e Investor Amsrc.
nso sL.ss RAILWAY Bono, compared with the sest
a.eay 70 1 he more genss question. Whit the leading
iea.u o. ne United States krsy system. whole and
VIZ te Nhoie OF The kBgsk Railway haaneAF
The answer contained following psses nov psentn 20 ~.
readily t can b. .ssissoaIs dsssn %
eoh WIZ incomes that iron bcds paving
turn Tor Their money % will be admitted he aAe, o,s which
hirrsr ~ 49, ~
"THB PROGRESS OF AN AMERICAN RAILWAY
Ii illustrating the Question Of profits joipioet
the 10 1.srt . tbst "a
nh9uLheH Elbh zoe A i.S yeArs th pronBent er, 20
tng mind hat OF our bone supplied the
which theory would lead sIpe Eve MOI. 49, .r ~
the dividends Above seven per cent the Bngh line. veT great
ihough pioDabg IN hu years the different In
ralsAy enterprise uiaet s. ana tls az,
remarkable eases o. sh railway 'oe, be The Ch,on
ct put ~ neat form, TIE history Of P.nnsyvAh Central
Railroad for The twelve from which M,
~ 2.s 900 10 1872 or stoO. TO p .p s oS a,, iso to
10 eeb dUosbe ss't leeb osa 's essssIy