Bit UN Or arr 
5) USDRDARINENT OFAGRCUUTURE & 
oO. 156 
Contribution by the Office of Public Roads, Logan Waller Page, Director. 
February 12, 1915. 
HIGHWAY BONDS: 
| A COMPILATION OF DATA AND AN ANALYSIS OF ECONOMIC 
: FEATURES AFFECTING CONSTRUCTION AND MAINTENANCE 
OF HIGHWAYS FINANCED BY BOND ISSUES, AND THE 
THEORY OF HIGHWAY BOND CALCULATIONS. 
BY 
LAURENCE I. HEWES, 
Chief, Economics and Maintenance, Office of Public Roads, 
and 
JAMES W. GLOVER, 
Professor of Mathematics and Insurance, University of Michigan, 
Collaborator, Office of Public Roads. 
WASHINGTON } GOVERNMENT PRINTING OFFICE : 1915 
