Railway Security Research Articles

Security Culture in the Dutch and Spanish Railway Sectors

Dutch and Spanish railway sector security is the focus of this article, detailing the security culture of the main railway operators in the Netherlands (Nedlandse Spoorwegen, NS) and in Spain (Red Nacional de Ferrocarriles Espanoles, RENFE). The author notes that safety issues in the railway sector have traditionally addressed natural disasters, human error, and process/system failure. Security issues, by contrast, have been considered differently. Seen as a reaction to external events (e.g., vandalism, organized crime, terrorist acts and threats), railway security has been thought to be much harder to control via the imposition of strict measures and procedures, which the author notes are more symbolically than economically effective. Consequently, security generally needs to be negotiated, weighing both the costs and benefits of security with operational efficiency. Considering the Dutch and Spanish railway sectors in weighing security considerations, the research notes the similarities each have experienced due to terrorist attacks spanning decades. However, Spain (and Spanish society generally) has a considerably longer history with terrorism and violence because of its Civil War (1936-39). As a consequence, Spain has developed a strong belief that security is largely the responsibility of the central government. This contrasts with the Netherlands, which emphasizes shared responsibility and consensus between government and the public. The author concludes that present-day security attitudes are closely tied to societal, cultural, and political values and experience. However, the addition of a historical perspective into the analysis illuminates the complexity between past experience and current patterns, providing a better explanation of present practices.

Automated Visual Surveillance in Realistic Scenarios

In this article, we present Knight, an automated surveillance system deployed in a variety of real-world scenarios ranging from railway security to law enforcement. We also discuss the challenges of developing surveillance systems, present some solutions implemented in Knight that overcome these challenges, and evaluate Knight's performance in unconstrained environments

Britain and American Railway Development

Our task here is to inquire into the relations between two familiar sets of phenomena—the economic development of the Western Hemisphere and the involvement of British investors, financiers, engineers, contractors, and financial groups in railways in that area. As a matter of convenience we shall look chiefly at the United States and Argentina, and at the time span of three quarters of a century preceding the First World War. It is no secret that during that period both countries underwent rapid development, whose contours included such matters as the effective occupation of new areas of vast extent; the growth of population, partly fed by immigration; the effective application of technological improvements to the exploitation of natural resources; an increasing complexity of the division of labor; and a rise in productivity and real income per capita, participated in by large segments of the population. During the same period, the Western Hemisphere was normally the outlet for from 40 to 60 per cent of British foreign investment, the United States and the Argentine being two of the countries chiefly affected. We are familiar with estimates that British investments in the United States, on the eve of the First World War, amounted to over 4 billion dollars, approximately 3 billion of which were in railway securities, and that something like half as much was invested in Argentina, with a somewhat smaller percentage directly in rails.

Rights of the Minority Stockholder and of the Railway Security Holder

Rights of the Minority Stockholder and of the Railway Security Holder

Rights of the Minority Stockholder and of the Railway Security Holder

Rights of the Minority Stockholder and of the Railway Security Holder

Rights of Minority Stock and Railway Security Holders

Rights of Minority Stock and Railway Security Holders

Rights of Minority Stock and Railway Security Holders

Rights of Minority Stock and Railway Security Holders

Federal Regulation of Railway Securities Under the Transportation Act of 1920

Federal Regulation of Railway Securities Under the Transportation Act of 1920

Some Notes on Indian Railway Securities.

In considering Indian Railway Securities as investments it is advisable to have a knowledge of the history of the railways. The first lines to be built in India were constructed by Companies on land supplied free by the East India Company, who also guaranteed that a certain rate of interest should be paid each year on the capital expended with their approval. This arrangement was made with the idea of attracting Companies to build lines, and in return the East India Company had the right to exercise a certain amount of supervision and control and also had certain options of purchase. When in a position to do so, the Companies repaid each year, to the extent of one half the excess net earnings in that year, any amounts paid by the East India Company under the guarantee arrangements.

American Railway Securities as Investments for Insurance Companies

In writing upon the subject of this paper, I met at the outset with a difficulty which, I am afraid, will tend to make the paper less interesting to some of you than I would like it to be. The difficulty I refer to is this—that a considerable proportion of such information as I have upon the subject, and that which occurs most readily to me, is what I may perhaps call “particular” information, that is information relating to particular investments; whereas the information which appears to me to be most suitable to give here is that of a more general character, relating, primarily, to the principles which should guide us in selecting investments.The first point to consider in connection with any railway the securities of which are under consideration for investment, is the value of the undertaking itself in relation to the amount of the issue of bonds or other security charged upon it. There are various ways of considering the value, the principal of which are:1. The cost of the undertaking.2. The probable cost of building another similar railway.3. The actual present value as evidenced by the revenue derived from it.As regards the first of these, it may be noted that this criterion of value is the least reliable of the three, but it is interesting not to overlook it, as it is in this respect that we find the greatest contrast between English and American railways. Whilst English, railways were built at very great expense, large sums being paid for land both in the country and in towns, and the actual work of construction being done upon the most expensive scale, American railways were, in early days, built very cheaply, the land being obtained without payment, and the railway construction being on an economical scale.

Safe Investments in Railway Securities

Safe Investments in Railway Securities

Administrative Supervision of Railways under the Twentieth Section of the Act to Regulate Commerce

The twentieth section in the Act of 1887 was ineffective, 364–365.—Three provisions in the amended section: monthly reports, uniform accounts, special examiners, 365–367.—Operating and capital accounts, and their new supervision, 368.—The four principles underlying the Commission's accounting scheme, 370.—Discount on securities not to be carried as an asset, 370.—Depreciation and betterments accounts regulated, 371.—Surplus to be accurately stated, 372.—Industrial importance of the scheme: greater stability in railway securities, 372–376.—Clarifies relation of rates to cost, 376–377.—Wider influence of confidence in railway accounts, 377–379.—Conclusion; administrative supervision, rather than procedure in the courts, initiated by this regulation of accounts, 379–383.