Various estimates, both <italic>ex ante</italic> and <italic>ex post</italic>, have been produced of the accounting rate of return on investments in the late nineteenth-century coal industry, with some <italic>ex post</italic> figures also being calculated for individual firms engaged therein, such as the Consett Iron Co. Ltd. No one, however,...

This study examines aspects of the accounting and financial history of the South Manchuria Railway Company (SMR) from its formation in 1906. In particular we focus on the 1930s, a period in which the activities of the SMR became increasingly dominated by the demands of the Kwantung Army which...