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Illinois Central Railroad Company; Corporation reports -- United States -- History; Capital markets -- Europe -- History
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Full-Text Articles in Business
Early American Corporate Reporting And European Capital Markets: The Case Of The Illinois Central Railroad, 1851-1861, Dale L. Flesher, Gary John Previts, William D. Samson
Early American Corporate Reporting And European Capital Markets: The Case Of The Illinois Central Railroad, 1851-1861, Dale L. Flesher, Gary John Previts, William D. Samson
Accounting Historians Journal
This study of the annual reports of the Illinois Central Railroad (IC) from the 1850s supports a conclusion that the statements, as to form and content, were developed to serve the needs of two classes of investors and to inform the general community of the activities of the company. The need to report to the public as to the success of the company's role in its social contract to develop the state required details of a demographic nature, which were provided by the land commissioner. Operating results provided evidence of the ability to service the debts held by European investors …