The Profitability of Early Canadian Railroads: Evidence from the Grand Trunk and Great Western Railway Companies

Ann M. Carlos and Frank Lewis, Strategic Factors in Nineteenth Century American Economic History: A Volume to Honor Robert W. Fogel (University of Chicago Press, 1992), chap. 14, https://www.nber.org/books-and-chapters/strategic-factors-nineteenth-century-american-economic-history-volume-honor-robert-w-fogel/profitability-early-canadian-railroads-evidence-grand-trunk-and-great-western-railway-companies.