The line was capitalized at $46,000,000 and has paid a good profit on the investment.
The liabilities of the fund (capitalized) amounted to 10,668,105, of which monastic pensions represented a rapidly diminishing sum of 2,564,930.
But the Bagdad Railway Company' (the share capital of which is £600,000 half paid up), naturally anxious to earn the whole of the capitalized subvention, completed the construction of the entire 200 kilometres.
The crown paid the landlord in obligations representing the capitalized rent, and the peasants had to pay the crown, for forty-nine years, 6% interest on this capital.
Under the budgetary heading " Public Debt " is included, as it should be, all expenditure in connexion not only with the public debt proper, but also with advances from banks and others, railway guarantees, an account of which will also be found below, and all capitalized liabilities, as far as known, contracted by the state.