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This article is about how the capital assets in private finance initiative (PFI) schemes are treated in government accounts. The article begins by describing how public sector obligations in relation to the capital assets of PFI schemes are accounted for in the national accounts, and also, using different accounting standards, in departmental accounts. The article then considers the implications of information obtained using Freedom of Information on the way a sample of PFI schemes actually behave in practice. Analysis of this data suggests that the methods used in the national accounts, and in departmental accounts, seriously underestimate the true scale of PFI obligations. The data also indicates potential weaknesses with the risk-based test for assessing whether a PFI asset should come onto the public sector’s books in the national accounts – with the implication that many more PFI schemes should be brought on-book in the national accounts.

Several aggregation methods, including the EKS, start by calculating bilateral Fisher indices. Prices and quantities are, however, subject to measurement error. This stochastic behavior, which implies both unequal variances, and non-zero correlations, between different Fisher indices, has to be taken into account if optimal estimates of aggregate PPPs are to be derived from the Fisher indices. This paper provides estimates of the variance/covariance structure of the Fisher indices, under two alternative models for stochastic variation at basic heading level: and it applies these formulae to the 1996 OECD data set, illustrating that the Fisher indices for this data set are indeed highly correlated. The paper also establishes a general theoretical result, proving that the EKS is optimal for a particular variance/covariance structure involving non-zero correlations, and hence shows that the standard EKS aggregation method is likely to be near optimal for the 1996 OECD data set.

A Soper transaction is defined here as any transaction where the invested capital is non-negative at all times during the life of the transaction. This paper proves that any transaction whose first non-zero term is negative can be uniquely partitioned into Soper transactions with strictly decreasing internal rates of return, (IRR). The IRRs of the partitioning transactions put bounds on the IRRs of the original transaction. The partitioning theorem gives a simple characterisation of the truncation points in Hick’s fundamental theorem. The partitioning theorem also has applications to the problem of the optimal time for an investor to sell the remaining terms in a transaction.

Franz Joseph Haydn (1732–1809) is renowned as one of the most eminent and prolific composers of the classical period of western music. By the end of his life he had become one of the most famous composers in Europe. He developed the musical forms which became the symphony and the string quartet and was also instrumental in the development of the sonata. This volume, first published in 1902 and written by biographer and contributor to the Dictionary of National Biography James Cuthbert Hadden (1861–1914), focuses on Haydn's career and personality rather than his music. Arranged chronologically according to major locations where Haydn visited or lived, Hadden describes Haydn's daily life, character and growing fame in great detail. Based on the first comprehensive biography of Haydn, Carl Ferdinand Pohl's Joseph Haydn, this volume was considered the most complete account of Haydn's life in English at the time of publication.

Summary (1) A preliminary note on atelectasis during collapse therapy for pulmonary tuberculosis is presented. The implications are proposed to be the subject of a further communication by one of us (M. M. N.), in conjunction with A. J. Goello, relating these findings to thoracoscopic appearances. (2) An explanation is given for the occurrence of atelectasis during collapse therapy by relating the phenomenon to changes in the draining bronchus where a cavity is present and in inflamed areas peripherally. (3) The question of abandonment of the A.P. when atelectasis of a lobe occurs is one which cannot be answered merely on x-ray findings but is one in which clinical condition should play a great part. (4) It would seem that a cavity in such an atelectatic, lobe is dangerous if collapse is maintained, but this has not been fully proved in this note. (5) In so far as the occurrence of atelectasis when an A.P. is induced is predictable from the radiological appearances of patches of tuberculous pneumonitis in many cases, the question of whether or not an A.P. should be induced at all in such cases would seem to be relevant. Sequelae of the pathological changes described above would seem to mitigate against such an induction.

Summary Forty-eight cases of bronchogenic carcinoma seen at one clinic in Glasgow after the City-wide Mass Radiography survey are compared with 48 consecutive cases sent with symptoms to the clinic by practitioners. Only 12 of the M.M.R. group had no symptoms, and it is concluded that more propaganda is necessary to make the public X-ray conscious as regards chest symptoms. Difficulties of diagnosis arose with those cases which presented as pneumonia, peripheral abscess, or with lymphangitis carcinomatosa, resembling tuberculosis on the X-ray, and with negative bronchoscopic findings. On the whole the M.M.R. group fared better than the practitioners' group, and at eighteen months from first attending the clinic 13 of them were alive, compared with 8 in the practitioners' group. Operation, be it removal of one lobe or pneumonectomy, offers the best hope of survival to eighteen months.

A combination of 300 mg isoniazid daily with 6oo mg rifampicin daily was used in previously untreated cases of pulmonary tuberculosis with organisms initially susceptible to both drugs. Of 134 patients completing 6 months' therapy bacteriological conversion was achieved in all but 2 patients and in both of these conversion occurred after 8 months' treatment. One patient failed to complete the 6-month period because organismal resistance to isoniazid (though not to rifampicin) developed after 3 months' treatment. In 2 patients treatment was abandoned because of the occurrence of a severe constitutional upset. Elevation of serum transaminases subsiding with continuation of treatment was noted in 23 patients (16%) and elevation of serum bilirubin as well as elevation of transaminases was noted in 15 patients (10·6%). Rifampicin proved an extremely effective companion drug for isoniazid, highly acceptable to patients, and with few serious unwanted effects. However, with an isoniazid-rifampicin combination liver function should be carefully monitored in the early weeks of treatment especially in patients with pre-existing liver disease.