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Paper Railway
In the United States, a paper railroad is a company in the railroad business that exists "on paper only": as a legal entity which does not own any track, locomotives, or rolling stock. In the early days of railroad construction, paper railroads had to exist by necessity while in the financing stage. It allowed incorporation of a company and the seeking of capital to build a proposed railroad. In the 1850s, speculation of stock of paper railroads became rampant, causing a bubble of their stocks. This led in large part to the Panic of 1857. Throughout the 19th and early 20th centuries, this specific connotation of the phrase "paper railroad" was consistent: a proposed, often speculative (and sometimes wildly speculative) venture in which a company stock exists, but no physical assets to run a railroad do. In many cases, these railroads still existed as corporate entities long after plans to build them had been scrapped. In the context of recent times, the phrase "paper railroad" is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Company
A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * List of legal entity types by country, business entities, whose aim is generating profit * financial entities and banks * programs or Educational institution, educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared Incorporation (business), incorporation, or published policy. When a company closes, it may need to be Liquidation, liquidated to avoid further legal obligations. Companies may associate and collectively register themselves ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rail Transport
Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prepared flat surface, rail vehicles ( rolling stock) are directionally guided by the tracks on which they run. Tracks usually consist of steel rails, installed on sleepers (ties) set in ballast, on which the rolling stock, usually fitted with metal wheels, moves. Other variations are also possible, such as "slab track", in which the rails are fastened to a concrete foundation resting on a prepared subsurface. Rolling stock in a rail transport system generally encounters lower frictional resistance than rubber-tyred road vehicles, so passenger and freight cars (carriages and wagons) can be coupled into longer trains. The operation is carried out by a railway company, providing transport between train stations or freight customer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Person
In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for the term "''legal'' person" is that some legal persons are not people: companies and corporations are "persons" legally speaking (they can legally do most of the things an ordinary person can do), but they are not people in a literal sense. There are therefore two kinds of legal entities: human and non-human. In law, a human person is called a ''natural person'' (sometimes also a ''physical person''), and a non-human person is called a ''juridical person'' (sometimes also a ''juridic'', ''juristic'', ''artificial'', ''legal'', or ''fictitious person'', la, persona ficta). Juridical persons are entities such as corporations, firms (in some jurisdictions), and many government agencies. They are treated in law as if they were persons. Whil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rail Tracks
A railway track (British English and UIC terminology) or railroad track (American English), also known as permanent way or simply track, is the structure on a railway or railroad consisting of the rails, fasteners, railroad ties (sleepers, British English) and ballast (or slab track), plus the underlying subgrade. It enables trains to move by providing a dependable surface for their wheels to roll upon. Early tracks were constructed with wooden or cast iron rails, and wooden or stone sleepers; since the 1870s, rails have almost universally been made from steel. Historical development The first railway in Britain was the Wollaton Wagonway, built in 1603 between Wollaton and Strelley in Nottinghamshire. It used wooden rails and was the first of around 50 wooden-railed tramways built over the next 164 years. These early wooden tramways typically used rails of oak or beech, attached to wooden sleepers with iron or wooden nails. Gravel or small stones were packed around the s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Locomotives
A locomotive or engine is a rail transport vehicle that provides the motive power for a train. If a locomotive is capable of carrying a payload, it is usually rather referred to as a multiple unit, motor coach, railcar or power car; the use of these self-propelled vehicles is increasingly common for passenger trains, but rare for freight (see CargoSprinter). Traditionally, locomotives pulled trains from the front. However, push-pull operation has become common, where the train may have a locomotive (or locomotives) at the front, at the rear, or at each end. Most recently railroads have begun adopting DPU or distributed power. The front may have one or two locomotives followed by a mid-train locomotive that is controlled remotely from the lead unit. __TOC__ Etymology The word ''locomotive'' originates from the Latin 'from a place', ablative of 'place', and the Medieval Latin 'causing motion', and is a shortened form of the term ''locomotive engine'', which was first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rolling Stock
The term rolling stock in the rail transport industry refers to railway vehicles, including both powered and unpowered vehicles: for example, locomotives, freight and passenger cars (or coaches), and non-revenue cars. Passenger vehicles can be un-powered, or self-propelled, single or multiple units. A connected series of railway vehicles is a train (this term applied to a locomotive is a common misnomer). In North America, Australia and other countries, the term consist ( ) is used to refer to the rolling stock in a train. In the United States, the term ''rolling stock'' has been expanded from the older broadly defined "trains" to include wheeled vehicles used by businesses on roadways. The word ''stock'' in the term is used in a sense of inventory. Rolling stock is considered to be a liquid asset, or close to it, since the value of the vehicle can be readily estimated and then shipped to the buyer without much cost or delay. The term contrasts with fixed stock (infrastru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Panic Of 1857
The Panic of 1857 was a financial panic in the United States caused by the declining international economy and over-expansion of the domestic economy. Because of the invention of the telegraph by Samuel F. Morse in 1844, the Panic of 1857 was the first financial crisis to spread rapidly throughout the United States. The world economy was also more interconnected by the 1850s, which also made the Panic of 1857 the first worldwide economic crisis. In Britain, the Palmerston government circumvented the requirements of the Bank Charter Act 1844, which required gold and silver reserves to back up the amount of money in circulation. Surfacing news of this circumvention set off the Panic in Britain. Beginning in September 1857, the financial downturn did not last long, but a proper recovery was not seen until the onset of the American Civil War in 1861. The sinking of contributed to the panic of 1857, as New York banks were awaiting a much-needed shipment of gold. American banks ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operating Subsidiary
An operating subsidiary is a subsidiary of a corporation through which the parent company (which may or may not be a holding company) indirectly conducts some portion of its business. Usually, an operating subsidiary can be distinguished in that even if its board of directors and officers overlap with those of other entities in the same corporate group, it has at least some officers and employees who conduct business operations primarily on behalf of the subsidiary alone (that is, they work directly for the subsidiary). The term carries slightly different meanings depending upon the specific context and industry. A non-operating subsidiary, in contrast, is a subsidiary that exists on paper, but does not have any assets or employees of its own and therefore cannot function independently as a going business concern. Thus, its only actual business "operations" may consist of its officers entering into contracts with other corporate entities (which may or may not be within the same ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
