Business: Rail Bonds

The total national wealth of the country is estimated to be in the neighborhood of $360,000,000,000 (1928 figure), of which some $21,691,000,000 is the staggering sum represented by the people's investment in railroads, more than any other classification except real estate. In times past, panics have been caused by overenthusiasm for the carriers and their stocks, but now as in 1921 no such reason for Depression exists. Rail stocks have long since passed their lurid youth.

Into the bonds of the railroad companies has poured a torrent of funds seeking, above all else,...

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