29 APRIL 1893, Page 12

American Railroads as Investments. By S. F. Van Oss. (Effing-

ham Wilson.)—This is a book which it would be rash in a non- expert reviewer to recommend further than for consideration. Mr. Van Oss generally contends that this class of security is undervalued in England, that an investment in American rail- road bonds—judiciously selected, it must be understood—will yield or even 1 per cent. more than the same in English bonds of exactly the same standing. He attributes this in part to the higher rate of interest generally prevailing in the States. The subject in its details is beyond our province, and our function is discharged by mentioning the book and its general purpose.