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WORTHINGTON, B. A. The need for higher rates. Ry. Age Gaz., Nov. 7, 1913. Pp. 2.

Accidents to passenger trains in Great Britain. Engg. News, Dec. 4, 1913. P. 12.

Statistical exhibit of accidents occurring 1903-1912.

An analysis of train-crew legislation. Ry. Age Gaz., Oct. 24, 1913. Pp. 7. The proposed laws are unnecessary; they will neither increase efficiency nor promote greater safety.

Argentine railways, I, II. Economist, Nov. 1, 8, 1913. Pp. 4.

An analysis of the revenues and expenditures of the leading Argentine systems during the last five years.

Bus operation in London and Paris. Elec. Ry. Journ., Nov. 22, 1913. Pp. 4. Discusses motor bus operation from points of view of costs and financial return, accidents, municipal supervision, advantages and disadvantages.

Compensation of labor on British railways. Ry. & Engg. Rev., Dec. 20, 1913. P. 1.

Contains useful data as to wages of British railway employees.

A comprehensive searchlight. Ry. Rev., Jan. 3, 1914. Pp. 4.

Reproduces the 78 questions sent out by the Interstate Commerce Commission to the railroads in connection with the inquiry concerning the necessity of an advance in railway rates.

The freight rate advance hearings. Ry. Age Gaz., Nov. 28, 1913. Pp. 9. Abstract of the statements and evidence presented by the railways. (See also Railway and Engineering Review, Nov. 29, 1913.)

Grade separation laws and requirements. Ry. Age Gaz., Dec. 12, 1913. Pp. 4. Abstract of 27 state laws, and discussion of the practice in cities where most work has been done.

Increasing the loading of cars. Ry. Age Gaz., Oct. 31, 1913. P. 1.

The proposal that a system of graduated rates based upon the size of the load should be adopted is worthy serious consideration.

Juggling railway statistics. Ry. Age Gaz., Nov. 7, 1913. Pp. 12.

Deals with Chairman Thorne's statistical errors. (See entry under Ripley, E. P.)

The life of railway physical property. Stone & Webster Pub. Serv. Journ., Dec., 1913. Pp. 7.

A committee report read at the American Electric Railway Association Convention, October, 1913. Insured earnings are put forward as the ultimate solution of depreciation of railway property.

London traffic: report of select committee. London Munic. Notes, Sept.-Oct., 1913. Pp. 5.

Recommendations of a committee appointed to inquire into the circumstances which have led to the increasing number of fatal accidents in London due to motor buses and motor cars.

Maps of railroad valuation. Ry. & Engg. Rev., Nov. 1, 1913.

A question of expense in connection with the valuation being made by the Interstate Commerce Commission.

Mr. Dalrymple's impressions of his visit. Elec. Ry. Journ., Oct. 25, 1913. Pp. 2. Various comments upon American street car conditions.

Railway construction in 1913. Ry. Rev., Jan. 3, 1913. Pp. 4.

Details are given for each state. The amount of construction is the smallest in 5 years.

Railway statistics. Archiv f. Eisenbahnw., Sept.-Oct., Nov.-Dec., 1913.

Sept.-Oct.: Australia (1911), Denmark (1911-12), France (1910), Norway (1911-12), Servia (1911), Spain (1909), Sweden (1911); Nov.-Dec.: Belgium (1911), Bulgaria (1910), Hungary (1911), Rumania (1912), Switzerland (1911).

Report of committee on railway capitalization. Elec. Ry. Journ., Nov. 1, 1913. Pp. 12.

Recommends that power be granted to the Interstate Commerce Commission to control the issue of stocks and bonds by interstate carriers. San Francisco municipal railway. Elec. Ry. Journ., Oct. 11, 1913. Pp. 3.

Of main interest are the figures of cost of reconstruction and operation.

Statistics of electric railway properties. Elec. Ry. Journ., Oct. 25, 1913. Pp. 6. Capital and revenue of some 60 or more companies grouped in different ways to show their varying conditions.

Studies in operation—the Chesapeake & Ohio. Ry. Age Gaz., Dec. 5, 1913. Pp. 5. An increase in 187 tons in train load in two years; but despite this, expenses have increased out of proportion to gross earnings.

The waste in railroad service. N. Y. Times Annalist, Nov. 24, 1913. Pp. 12. Particularly in the movement of high-class freight.

Les avances du trésor aux chemins de fer de l'état. Journ. d. Transports, Dec. 13, 1913. P. 1.

The financial situation of the French government is complicated by the heavy advances made by the treasury in providing funds for capital expenditures of the state railway system.

Les chemins de fer belges. II. Journ. d. Transports, Oct. 4, 1913. Pp. 12.
This concluding section is devoted to the consideration of the second-
ary lines and of the relations between rail and water transport. Water
competition is by no means a purely academic question in Belgium.
Chemins de fer électriques. Journ. d. Transports, Jan. 3, 1914. Pp. 3.
Les chemins de fer français. Journ. d. Transports, Oct. 4, 1913. Pp. 12.
A convenient summary of the development of railway mileage in
France, with some additional reference to financial growth.

La congestion de réseau prussien en 1912. Journ. d. Transports, Nov. 22, 1913. Pp. 3.

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La cour des comptes et les chemins de fer de l'état. Jan. 3, 1914. Pp. 12. The report complains of the tardy presentation of the yearly accounts, of expenditures made without authority of Parliament, of the inexactitude of the estimates made by the administration, of the artificial reduction of the operating deficit by the Treasury's failing to charge interest on advances made by it to the state railway administration before January 1, 1912, and from that date, by requiring interest at the rate of only 22 per cent.

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La question de Panama. Journ. d. Transports, Oct. 25, 1913. Pp. 21⁄2.

M. Daniel Bellet is of the opinion that the Panama Canal will be of no substantial economic or political value to the United States. La représentation du personnel des chemins de fer l'état en Italie. Journ. d. Transports, Jan. 3, 1914. P. 1.

An account of a lively dispute in the Italian Chamber of Deputies. Les résultats du rachat en Suisse. Journ. d. Transports, Nov. 8, 1913. Pp. 22. The purchase of the Swiss railways has not justified the hopes placed on it and appears as a mediocre operation. A summary of Marcel Peschaud's article in the October Revue Politique et Parlementaire. Eisenbahnunfälle in Grossbritannien und Irland, 1912. Archiv f. Eisenbahnw., Nov.-Dec., 1913. Pp. 3.

Die Entwicklung des Verkehrs von Norddeutschland nach England seit der Mitte des vorigen Jahrhunderts. Archiv f. Eisenbahnw., Sept.-Oct., 1913. As a result of faster trains, better connections, and new routes, the time of transit for passengers from Berlin to London has been reduced since 1851 from 50 hours to 1912 hours.

Unfälle auf den französischen Eisenbahnen, 1909 und 1910. Archiv f. Eisenbahnw., Sept.-Oct., 1913. Pp. 3.

In 1910, on 25,000 miles of French railways, 753 people were killed and 1,522 injured.

Die Wertpapiere der amerikanischen Eisenbahnen. Archiv f. Eisenbahnw., Sept.-Oct., 1913. Pp. 8.

A description of the kinds of railway stocks and bonds used in America, with a statement as to the method of floating such securities.

Accounting

(Abstracts by John Bauer)

ARNOLD, B. J. and MOYES, J. W. Valuation of Toronto public utilities. Elec. Ry. Journ., Nov. 15, 1913. Pp. 2.

Describes the inventory and valuation of the Toronto street railroads, to be purchased by the city: cost of reproduction, less depreciation, plus an allowance for existing valuable contracts with the city. BAUER, J. Goodwill: its nature, value, and treatment in the accounts. Accountant, Dec. 6, 1913. Pp. 8.

Not different from other asset values; it is the value of greater earning power than ordinary returns upon capital cost invested. Should be

presented in the balance sheet whether purchased or not. Shows how goodwill may be evaluated in practice.

BEDE, G. Valuation of railroads. Ry. & Engg. Rev., Oct. 18, 1913. Pp. 2.

Points out the difficulties in the government valuation of railroads. Emphasizes the difference between cost and value. Holds that the final valuation can be only tentative, and cannot be used as a basis for practical rate making.

BUTTERFIELD, W. J. Notes on the worsted industry. Accountant, Oct. 18, 1913. Pp. 27.

Includes the accounting of the manufacturing processes.

CASH, W. Gas accounts and finance, with a sketch of the history of the industry. Accountant, Oct. 18, 1913. Pp. 10.

Summarizes the chief acts of Parliament regulating capitalization, rates, and profits.

CHURCH, A. H. Bonus systems and the expense burden. Engg. Mag., Nov., 1913. Pp. 10.

The bonus systems proposed by Gantt and Emerson, based in each case upon a standard day's work, are compared with earlier premium systems. The incentive to extra effort is more direct and greater, and the result more measurable. The effect of the expense burden upon work costs is not much different. Illustrative diagrams are presented. DUFFY, C. N. Economics of the Cleveland railway situation as developed in the 1913 arbitration decision. Elec. Ry. Journ., Oct. 15, 1913. Pp. 4. EATON, J. S. The indirect results of national railway valuation. Engg. Mag., Nov., 1913. Pp. 8.

Believes that the cost of production principle will result in unfairness to the investor and will check railroad building.

EATON, J. S., HOWARD, C. P., and others. Physical valuation of railroads. Pro. Am. Soc. Civ. Engrs., Sept., 1913. Pp. 22.

A discussion of a paper by W. J. Wilgus on the above subject, holding that the valuation for rate making should be cost of reproduction new, with no allowance for depreciation.

EGGLESTON, D. C. Accounting system for a municipal hospital. Journ. Account., Nov., 1913. Pp. 5.

ELKINS, A. F., CAVANAUGH, H. B., HIXSON, L. T. Meeting of Central Electric Railway Accountants Association. Elec. Ry. Journ., Dec. 20, 1913. A summary of three papers: (1) "Some essentials of public service accounting, emphasizing personal qualities." (2) "The federal income tax law as applicable to electric railroad corporations." and (3) “The new federal income tax law." The last two papers discuss especially the accounting problems connected with the law.

EMERY, J. A. Statistical units used in analysis of electric railway accounts. Elec. Ry. Journ., Oct. 16, 1913. Pp. 3.

Reviews the principal units and compares their relative advantages and disadvantages. Favors the "seat mile" as the best single unit.

FEES, C. A. The determination of operating costs of power installations. Elec. Rev. & W. Elect'n., Oct. 18, 1913. Pp. 3.

Analyzes operating expenses and considers how they affect power costs per kilowatt hour.

FINLAY, J. R. Valuation of iron-mines. Bull. Am. Inst. Min. Engrs., Oct.,

1913.

GAY, E. F. Uniform accounting systems. Journ. Account., Oct., 1913. Pp. 10. Describes the work of the Bureau of Business Research of the Harvard Graduate School of Business Administration in establishing uniform accounting systems, especially in the shoe business.

GILLETTE, H. P., WILLOUGHBEE, J. E., and others. Physical valuation of railroads. Pro. Am. Soc. Civ. Engrs., Oct., 1913. Pp. 47.

A discussion of a paper on the above subject by W. J. Wilgus, favoring cost of reproduction new as the proper valuation for rate making.

HEGAN, C. R. Some points in the audit of real estate accounts. Accountant, Oct. 25, 1913. Pp. 4.

An interesting discussion of how profits should be calculated by a real estate company.

HOOPER, W. E. Has the Interstate Commerce Commission's system of accounts met the needs of the commission? Ry. Age Gaz., Nov. 21, 1913. Pp. 4.

Approves the general accounts, but holds that the cost analyses cannot be taken as a basis for rate making.

HUFFELAND, O. Valuation of the sewers of Manhattan Borough, New York City. Engg. News, Jan. 8, 1914. Pp. 4.

The valuation represents estimated cost with allowance for depreciation. The author was the engineer in charge. Charts and diagrams. HUMPHREYS, A. C. Depreciation: estimated and actual. Engg. & Con., Oct. 8, 1913. Pp. 5.

All methods of calculating depreciation are only rough approximations. No deduction for accrued depreciation should be made in appraisals for rate regulations.

LEAKE, P. D. Depreciation and goodwill. Accountant, Dec. 27, 1913. Pp. 8.

Depreciation is viewed as "expired capital outlay," and goodwill is the present value of expected future "super-profits." The question is raised whether and how goodwill should be written off.

LINCOLN, P. M. Relation of plant size to power cost. Stone & Webster Pub. Serv. Journ., Dec., 1913. Pp. 12.

Favors a large central light and power plant to furnish all the service in a particular territory, over a number of small plants constructed for special services in the same territory. The lower cost per kilowatt in the central plant is due to relative lower first cost and fixed charges, lower operating expenses, and a more favorable diversity factor in carrying the peak load.

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