LIESSE, A. Le régime futur des chemins de fer français. Rev. Pol. et Parl., July 10, 1920. Pp. 13.

LIESSE, A. Le régime nouveau à appliquer aux chemins de fer d'intérêt général. L'Econ. Franç., June 19, 1920. Pp. 3.

LISMAN, F. J. The sad romance of the Detroit, Toledo, and Ironton. Ry. Age, July 23, 1920. Pp. 3. Road purchased by Henry Ford.

MACLEAN, H. C. Railway situation in Italy. Ry. Rev., Aug. 21, 1920. Pp. 3. Report made by U. S. Trade Commissioner at Rome, reprinted from Commerce Reports for August.

PARMELEE, J. H. Is railway efficiency increasing? Coal Rev., Oct. 6, 1920. Pp. 4. Gradual improvement since March 1.

PASZKOWSKI, F. Eisenbahnpolitik Norwegens. Archiv f. Eisenbahnw., MayJune, July-Aug., 1920. Pp. 31, 41. Series to be continued.

PEIRCE, E. C. Development of the steam locomotive. Proc. Ry. Club of Pittsburgh, Mar. 26, 1920. Pp. 12.

PRICE, T. H. The advance in railroad rates. World's Work, Oct., 1920. Pp. 3. Effect on cost of living.

RHEA, F. Railway valuation. Ry. Rev., Aug. 14, 21, Sept. 4, 11, 18, Oct. 9, 30, 1920. Seventh through eleventh articles in a series abstracted in September issue of this REVIEW. Cost of reproduction new and less depreciation. STILES, O. W. Municipal freight terminals. Ry. Rev., Aug. 14, 1920. Pp. 3. THOMAS, F. W. The Santa Fe apprentice system. Journ. Western Soc. of Engrs., July 20, 1920. Pp. 7.

WRIGHT, P. The work of the Russian Railway Service Corps. Ry. Age, July 23, 1920. Pp. 4.

The assessment of railways. Ry. Gaz. (London), Sept. 17, 1920. P. 1. Revaluation of British railway properties for taxation.

Car building in first seven months of 1920. Ry. Age, Sept. 24, 1920. Pp. 2. Increased rates authorized by I. C. C. Ry. Age, Aug. 6, 1920. Pp. 12. Digest of commission's rate decision of July 29.

Mail subsidies and steamship subventions as controlled by the Department of Trade and Commerce. Report of Dominion of Canada, fiscal year ending March 31, 1919, with traffic returns, etc., to December 31, 1919. Pp. 91. An interesting compilation of useful data relating to these important topics. Railway electrification in Italy. Mod. Trans. (London), Oct. 2, 1920. Pp. 3. Proposed program for electrifying Italian state railway system.

Railway statistics for 1919 compared with 1913. Aug. 20, 1920. Pp. 6. Summarized comparison for eleven principal British railways.

The raise in railroad rates. Nation's Business, Sept., 1920. Pp. 2.

La réorganisation des chemins de fer. Journ. des Trans., June 26, 1920. Pp. 3.

Les résultats de 1919. Journ. des Trans., Aug. 21, 1920. Pp. 4. Analysis of Metropolitan system of Paris.

Die sachsischen Staatseisenbahnen in den Jahren 1917 und 1918. Archiv f. Eisenbahnw., July-Aug., 1920. Pp. 11.

Die schweizerischen Bundesbahnen im Jahr 1918. Archiv f. Eisenbahnw., May-June, 1920. Pp. 8.

Commerce

(Abstracts by Harry R. Tosdal)

BERNHARDT, J. The transition from government control of sugar to competitive conditions. Quart. Journ. Econ., Aug., 1920. Pp. 17. Traces sugar situation from beginning of 1919 to present. Government control no longer desirable.

CHELMSFORD, LORD. Indian trade and industry. Wealth of India, Mar., 1920. Pp. 5. India will continue former liberal trade policy and not strangle competition by means of government action. Urges trademark act, imperial preference in tariffs, and other measures.

CLYNES, J. R. Food control in war and peace. Econ. Journ., June, 1920. Concludes that government intervention in distribution of food should continue in England until trade and commerce are restored to a pre-war level. Prevention, rather than prosecution of abuses, is to be desired. COPELAND, M. T. Scope and content of a course in marketing. Journ. Applied Econ., May, 1920. Pp. 23. Outlines the course in marketing in the Harvard Graduate School of Business Administration, of which the two major divisions are marketing methods, including both retail and wholesale distribution and sales policies of manufacturers.

DAY, C. The pre-war commerce and the commercial approaches of the Balkan Peninsula. Geog. Rev., Apr.-June, 1920. Statistical analysis of commerce of Balkan countries with reference to the years 1910 and 1911. DUNCAN, C. S. Potent forces seen shaping the new era of business. Annalist, June 21, 1920. P. 1. "Interdependence of industries makes the control of raw materials a tremendous coercive power, while the movement towards nationalization and the world-wide organization of employer and employed are noted as important factors."

ELDRED, W. The grain corporation and the guaranteed wheat price. Quart. Journ. Econ., Aug., 1920. Pp. 21. Operation of wheat price guarantee acts of 1917 and 1919 successful in stimulating production of wheat and reducing fluctuation in price without cost to government. HECKSCHER, E. F. Utrikeshandelns verkan paa inkomsfördelingen.

Ek.

Tids., Dec. Suppl., 1919. Pp. 32. A theoretical study of foreign trade in its relation to the distribution of national income.

HOWELL, H. P. The international market for iron and steel. Comm. Mo., July, 1920. Pp. 9. Statistical study of international market for iron and steel, in which the writer urges larger exportation by United States producers.

LEE, G. S. Abaco (Manila hemp): the fiber monopoly of the Philippine Islands. Sci. Mo., Aug., 1920. Description of cultivation, uses and commercial possibilities of Abaco, with brief statement concerning minor fiber plants.

LEWIS, R. A. Government marine proving to be a costly venture. Annalist, May 31, 1920. Pp. 2. Earnings on the $1,500,000,000 investment less than 22 per cent without allowance for normal depreciation. Declining freight rates make problem more difficult.

MCFADDEN & BRO. STATISTICAL BUREAU. The present situation of the cotton industry on the continent of Europe. Econ. World, July 10, 1920. Pp. 3. Extract from extended study of "The World's Cotton Industry: Present Conditions Compared with Normal Times (1920-1913)."

MILLS, J. K. International trade figures show Europe convalescing. Annalist, June 7, 1920. Pp. 2. America's trade balance with Europe has been declining, due to increase in Europe's exports.

WELCH, R. L. The price of petroleum products in the United States from the standpoint of supply versus demand. Econ. World, July 3, 1920. Pp. 2. Summary of a memorandum submitted by the American Petroleum Institute to the Federal Trade Commission. Excess of consumption over production justifies recent changes in prices of petroleum products. VANDERLIP, F. A. and WILLIAMS, J. H. Consequences of the changed position of the United States in international trade. Econ. World, May 29, 1920. Pp. 2. Brief resumé of article from Review of Economic Statistics, calling attention to the fact that our huge excess of exports is disappearing, while imports are increasing, and suggesting that overturn of trade balance may be postponed for several years by moderate annual foreign investment or by wiping off part of government credits.

The American lumber industry. Comm. Mo., Aug., 1920. Pp. 8. Statistical review of the domestic lumber industry, dealing with production, consumption, imports and exports of lumber in United States.

Is Germany going the financial way of Soviet Russia? Annalist, June 21, 1920. P. 1. German government issued in May, 1920, over four billion marks of uncovered paper currency.

Japanese-American trade. Comm. Mo., Sept., 1920. Pp. 8. Statistical report of rapid development of trade between United States and Japan during the last decade, showing that the Japanese are becoming important factors in international market.

Jute: its production, supply and distribution. Econ. World, June 19, 1920. Pp. 4. Statistical review of jute production and distribution.

Mexico offers a fertile field for American trade extension. Americas, July, 1920. Pp. 5. Mexico offers large and receptive market for United States.

Seventh national foreign trade convention. Bankers Mag. (Am.), June, 1920.
Pp. 21. Resumé of papers read at seventh national foreign trade convention
held at San Francisco, May 12-15, 1920.

Trade relations of the west coast of South America. Comm. Mo., July, 1920.
Pp. 10. Gives figures showing great extent to which construction of
Panama Canal has increased trade between United States (particularly
eastern and west coast of South America).

United States losing trade opportunities in South America. Annalist, June
28, 1920. Pp. 2. From July, 1919, to March, 1920, our exports to six
principal South American countries increased only 13 per cent, while our
imports from these countries, compared with same period in 1919, jumped
48 per cent, giving United States adverse trade balance of more than
$291,000,000.

West coast ports brought to our door by the Panama Canal. Americas, July, 1920. Pp. 6. Illustrated account of part played by Panama Canal in bringing about improved trade conditions between United States and west coast of South America and also between east and west coasts of South America.

Public Utilities

(Abstracts by Charles S. Morgan)

ANDERSON, H. C. The construction period. Mech. Engg., Oct., 1920. Pp. 2. A description of the various methods used in computing the allowances for interest and taxes during construction.

ASHFIELD, LORD. London's traffic problem. Nineteenth Cent., May, 1920. Pp. 16. A discussion of the need for a well-planned development of London's transportation facilities and of the relative merits of various types of transportation agency, with suggestion that all transportation agencies be transferred to private enterprise under a pooling arrangement to allay conflict of interest and under unified public control.

BIBBINS, J. R. City building and transportation. Journ. West. Soc. Engrs., Aug. 20, 1920. Pp. 59. Comprehensive discussion of need for city planning and of relation of means of transit thereto.

BIBBINS, J. R. Rational valuation—a comparative study. Mech. Engg., Oct., 1920. Pp. 4. A valuable discussion of need for studying the fundamental economic principles which underly the valuation of utility property, with a useful illustrative example taken from the life history of a typical utility undertaking.

BRINCKERHOFF, H. M. Functions of rapid transit lines in cities. Elec. Ry. Journ., Oct. 2, 1920. Pp. 6. A statistical analysis shows greater dependence on surface lines than is commonly supposed; rapid transit and surface lines should therefore be supplementary so far as possible.

CAPES, W. P. How cities of New York state defeated efforts of street railway companies to escape cost of car track paving. Munic. & County Engg.,

Aug., 1920. Pp. 3. A summary of arguments, technical and economic, against exemption of street railways from this particular duty. CATLETT, F. W. The fate of the five-cent fare. XII. Municipal ownership in Seattle. Nat. Munic. Rev., Sept., 1920. Pp. 8. Statement of reasons for difficulties being encountered by Seattle in its experiment with municipal ownership, with brief sketch of history of the undertaking.

CLARK, H. C. Politics and politicians. Aera, July, 1920. Pp. 36. Discussion of Detroit's transportation problem, its historical background and the proposed municipal lines.

DRAPER, W. A. Incentive in service-at-cost. Aera, Oct., 1920. Pp. 3. Service-at-cost franchises are defective unless they furnish incentive for efficiency on the part of private management.

EDGERTON, E. O. The reward for efficiency. Gen. Elec. Rev., Aug., 1920. Pp. 4. Argument for granting a reward for efficiency in public utility management, such reward to be a part of a general system which would appeal to all ranks of utility employees.

ELMES, C. F. Price levels in relation to value. Mech. Engg., Oct., 1920. Pp. 4. Payments for public utility service should be adjusted to the variations in the purchasing power of money.

GEPHART, W. F. Financing electric public utilities. Elec. World, Sept. 4, 11, 1920. Pp. 2, 2. Difficulties encountered in securing necessary capital and statistical analysis showing high return required to be paid on utility securities.

GWINN, D. R. The high cost of money to public utilities. Journ. Am. Water Works Assoc., July, 1920. Pp. 6. A plea for liberality in treatment of public utilities based on urgent necessities of the situation.

HAGENAH, W. J. State versus local regulation of public utilities. Elec. Rev., Aug. 18, 1920. Pp. 8. A rather comprehensive statement of the case for the status quo in state regulation. HUNGERFORD, E. Series of articles on salient phases of the electric railway situation, continued. V. Detroit. VI. California and her tractions-parts 1, 2. Elec. Ry. Journ., July 24, Aug. 14, Sept. 11, 1920. Pp. 6, 5, 4. JACKSON, W. The place of the bus. VI. Elec. Ry. Journ., July 31, 1920. Pp. 10. Last of series. Bus transportation considered a supplementary form of transportation if proper accounting with costs and responsibilities is had.

KIRKPATRICK, J. J. Genuine savings through municipal ownership. The story of the Holyoke, Mass., municipal plants. Am. City, Sept., 1920. Pp. 3. LEDOUX, J. W. Some observations covering the public service commission. Journ. Am. Water Works Assoc., July, 1920. Pp. 8. Discussion of practice of Pennsylvania commission as to valuation and rate of return and effect thereof.

LITTLE, A. S. B. Chicago rate case valuation. Gas Age, Sept. 10, 1920. Pp.