Stocks and Bonds.
—Railways, interurban trolley lines, street-car lines, and toll roads have been financed largely by stock subscriptions. Public roads, being without a revenue-producing power, cannot be financed in this manner, except perhaps in exceptional cases where a few persons are willing to donate their money or are building for private use but are willing to share the same with the public. Large bridges may occasionally be built in this manner, the stockholders exacting toll for passage in order to get a return on their investment. However, such cases are negligible in the great national scheme of public highways.