LIMITED liability, system of, 68
Loans, issue of, 45 _seq_.
London, strength of, in credit matters, 30


MEXICO, revolution and default in, 71
Morocco crisis and financiers, 93
Municipalities, borrowing by, 45


NEARING, DR., on capital's reward, 7, 8
New York as financial centre, 30


PHILIP II repudiates debts, 67
Preference securities, 57, 59
Profit, distinguished from interest, 56;
the reward of capital, 2, 3
Prospectuses, fuller statement desirable in, 173;
terms of, 49 _seq_., 51
Public, the, the modern dispenser of wealth, 15 _seq_.


REGISTERED stocks, 55
Risk, inseparable from industry, 23


SINKING Fund, working of, 52
Snowden, Mr. Philip, on finance and diplomacy, 90, 91