イギリス鉄道ブームの一側面 : ハドソン「帝国」の生成と崩壊

概要

論文の詳細を見る
The object of this article is to analyse the Railway Mania in the middle of the nineteenth century. Our main subject concentrates on clarifying George Hudson's activities, for he was a typical man in the railway world. He was often called the " Railway King ". From this study we arrive at the following conclusions. Firstly, the unprecedented extension of the railway line was caused by furious competition among the railway companies whose principal object existed in widening their "territory" without consideration of management requirements. Secondly, behind this competition there was the double account system peculiar to railway accountancy, which made it possible to continue the severe competition. Thirdly, lease policy frequently adopted by the leading companies guaranteeing high dividends to the subsidiary companies, made the large companies' affairs go from bad to worse. Lastly, in addition to the lease policy, overcapitalization by the issue of preference shares, thought-lessly issued, heavily burdened the companies from then onwards.
社会経済史学会の論文
1972-10-30