5 xii CONTENTS 
SECOND SUMMARY 
INTRODUCTION 
OHAPTER PAGER 
I. Wearrs . . . . i . . . . . 3 
II. ProPERTY . . . ; . . . . . 18 
mm. Urry . » . . 2 . . . > 41 
PART 1 
IV. Carmrar . . . . . . . - 51 
V. CariraL ACCOUNTS 66 
VI. Carita SUMMATION . . . . . . 90 
PART II 
VII. INcoME . ; : ’ . . . : . + 101 
VIII. Income ACCOUNTS . : . . ” . . + 119 
IX. Income SUMMATION . . . . * . . « 1 
X. Psycnic Income ‘ . i . . . . . 166 
PART III 
XI. Four INCOME-CAPITAL RATIOS . . . . . +. 183 
0 XII. ConNcepr OF RATE OF INTEREST . ’ . . «19 
H XIII. Varue or CAPITAL . . . . . . . . 202 
| XIV. EARNINGS AND INCOME ‘ . . . . v . 291 
XV. Carirar AND INCOME ACCOUNTS . . . . . 256 
XVI. Tae Risk ELEMENT . ‘ . . . . . . 285 
PART IV 
XVII. Summary or Parr III . . . . > . . 308 
XVIII. GENERAL SUMMARY . . . + : . : . 928 
GLOSSARY. SUMMARY OF DEFINITIONS . v » - : . 320 
APPENDICES . . : . . . o . . . . 341 
INDEX ’ . ‘ ‘ . . v . ' . . 413