Most Popular Books by John Major

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The collection contains a diary in two volumes kept by John M. Shirley during the time he was a reporter of the New Hampshire Supreme Court and the writing of his book "Dartmouth College Causes and the Supreme Court of the United States." A manuscript of an account of a journey to California and the Pacific Northwest taken by Shirley in 1871, is also included.

Richard Henry Dana (1815-1882) of Boston left his studies at Harvard in 1834 in the hope that a sea voyage would aid his failing eyesight. He shipped out of Boston as a common seaman on board the brig Pilgrim bound for the Pacific, and returned to Massachusetts two years later. Completing his education, Dana became a leader of the American bar, an expert on maritime law, and a life-long advocate of the rights of the merchant seamen he had come to know on the Pilgrim and other vessels. Two years before the mast (1911) is based on the diary Dana kept while at sea. First published in 1841, it is one of America''s most famous accounts of life at sea. It contains a rare and detailed account of life on the California coast a decade before the Gold Rush revolutionized the region''s culture and society. Dana chronicles stops at the ports of Monterey, San Pedro, San Diego, Santa Barbara, and Santa Clara. He describes the lives of sailors in the ports and their work of hide-curing on the beaches, and he gives close attention to the daily life of the peoples of California: Hispanic, Native American, and European.

Costly external capital is one of the frictions that violates the premises of the Modigliani and Miller irrelevance theorems. Froot et. al. developed a three-stage model to explain how costly external capital, along with other frictions, provides an opportunity for risk management to create value. This paper extends their model to analyze risk management (in particular, reinsurance) in the context of a going concern. It relates the extended Froot model to a fifty-year-old stochastic dividend optimization problem, introduced by Bruno de Finetti, which has received growing interest in the recent decade.