misleading, contains valuable information about the development of the Vanderbilt lines after 1880 and also about the financial vicissitudes and rehabilitation of the many Morgan properties, such as the Southern Railway, the modern Erie system, the Northern Pacific, the Reading, and the Baltimore and Ohio. Some of the railroad companies many years ago themselves published histories of their lines, but most of these attempts were of little value, as they were always too laudatory and one-sided and evidently were usually written for political purposes. The best of this class of railroad histories was a book issued by the Pennsylvania Railroad many years ago, giving a record (largely statistical) of the growth and development of its lines. But this book has been long out of print and covers the period prior to 1885 only. For original material on American railroad history, one must depend almost entirely on financial and railroad periodicals and official and state documents. By far the most valuable sources for all aspects of railroad building and financing during the long period from 1830 to 1870 are the "American Railroad Journal" (1832-1871) and "Hunt's Merchant Magazine" (1831-1870). Both of these periodicals are replete with details of railroad building and growth. And for the period from 1870 to the present time the best authority is the "Commercial and Financial Chronicle", with its various supplements. The story of modern railroading is so intertwined with finance and banking that to get any broad and complete view of the subject one must consider it largely from the viewpoint of Wall Street. For facts regarding operation and management of modern railroads, the "Railroad Age-Gazette" also is extremely useful. By far the most valuable sources for railroad statistics, railroad legislation, and all related facts, are the annual reports and bulletins of the Interstate Commerce Commission, which have been regularly issued since 1888. Many state commissions also have issued volumes of value. The best account of the origin of the Granger laws is contained in S. J. Buck's "The Granger Movement" (1913). The beginnings of Federal regulation are traced in L. H. Haney's "A Congressional History of Railways in the United States, 1850-1887" (1910). The history of recent railroad regulation by state and Federal legislation, and of court decisions affecting the railroads, is clearly and succinctly told in William Z. Ripley's "Railroads: Rates and Regulation" (1912), and in Johnson and Van Metre's "Principles of Railroad Transportation" (1916).