Opinion of John M. Read, esquire, against the right of the city Councils to subscribe for stock in the Pennsylvania railroad company, and to increase the city debt and taxes for that purpose.

Mode of access: Internet.

British railways; a financial and commercial survey.

Mode of access: Internet.

Before the Interstate commerce commission. In the matter of the application of the Great northern railway company, etc., Finance docket no. 7439. In the matter of the application of the Western Pacific railroad company, etc. Finance docket no. 7440. In the matter of the application of the Great northern railway company and the Western Pacific railroad company, etc. Finance docket no. 7781 ...

Vol. [1]-[2]. Applicants' opening brief. F.G. Dorety, F.M. Angellotti [and others], attorneys.--v. [3]-[5] Brief for Southern Pacific company, Union Pacific railroad company, Oregon short line railroad company, Oregon-Washington railroad & navigation company and Los Angeles & Salt Lake railroad company, interveners. B.C. Dey, G.V. Shoup [and others] attorneys.

Report of the Committee on Finance of the House of Representatives, 33d General Assembly, in relation to the payment by the Illinois Central Railroad Company of seven per cent. of its gross earnings into the treasury of the state.

Mode of access: Internet.

In the matter of the application of the Norfolk and Western Railway Company for authority to acquire control by lease of the railroad of the Virginian Railway Company. October 12, 1925 [Jan. 28, 1926]

Vols. 1-3 paged continuously (iii, viii, 3029 p.)

Housing supply in Australia : the impact of the availability of development finance

Before the Global Financial Crisis many providers of finance had growth mandates and actively pursued development finance deals as a way of gaining higher returns on funds with regular capital turnover and re-investment possible. This was able to be achieved through high gearing and low presales in a strong market. As asset prices fell, loan covenants breached and memories of the 1990’s returned, banks rapidly adjusted their risk appetite via retraction of gearing and expansion of presale requirements. Early signs of loosening in bank credit policy are emerging, however parties seeking development finance are faced with a severely reduced number of institutions from which to source funding. The few institutions that are lending are filtering out only the best credit risks by way of constrictive credit conditions including: low loan to value ratios, the corresponding requirement to contribute high levels of equity, lack of support in non-prime locations and the requirement for only borrowers with well established track records. In this risk averse and capital constrained environment, the ability of developers to proceed with real estate developments is still being constrained by their inability to obtain project finance. This paper will examine the pre and post GFC development finance environment. It will identify the key lending criteria relevant to real estate development finance and will detail the related changes to credit policies over this period. The associated impact to real estate development projects will be presented, highlighting the significant constraint to supply that the inability to obtain finance poses.

Bayesian methodology incorporating expert judgment for ranking countermeasure effectiveness under uncertainty: Example applied to at grade railroad crossings in Korea

This paper describes the formalization and application of a methodology to evaluate the safety benefit of countermeasures in the face of uncertainty. To illustrate the methodology, 18 countermeasures for improving safety of at grade railroad crossings (AGRXs) in the Republic of Korea are considered. Akin to “stated preference” methods in travel survey research, the methodology applies random selection and laws of large numbers to derive accident modification factor (AMF) densities from expert opinions. In a full Bayesian analysis framework, the collective opinions in the form of AMF densities (data likelihood) are combined with prior knowledge (AMF density priors) for the 18 countermeasures to obtain ‘best’ estimates of AMFs (AMF posterior credible intervals). The countermeasures are then compared and recommended based on the largest safety returns with minimum risk (uncertainty). To the author's knowledge the complete methodology is new and has not previously been applied or reported in the literature. The results demonstrate that the methodology is able to discern anticipated safety benefit differences across candidate countermeasures. For the 18 at grade railroad crossings considered in this analysis, it was found that the top three performing countermeasures for reducing crashes are in-vehicle warning systems, obstacle detection systems, and constant warning time systems.