British Attitudes Toward Investment in North American Railroads

A. W. Currie

Business History Review, 1960, vol. 34, issue 2, 194-216

Abstract: British investors, whose support was of importance to American railroad development, fluctuated between enthusiasm and dismay. Low investment per mile, the performance of certain blue chip carriers, and the native growth potential all stimulated the vital flow of foreign capital. Rate wars, overcapitalization, stock price fluctuations, imprudent reorganizations, and low business morality had an inhibiting effect. In most cases American investments offered little opportunity to exert control. By the late 1890's, British investors had largely outgrown their enchantment with the American railroad bonanza.

Date: 1960
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