Abstract: There are four mistakes which should be corrected in how to recognize the railway business managed by merchants in late Qing Dynasty.Firstly,it's a great success for railway company managed by merchants to raise funds.Although these funds couldn't size up the actual requirement of Chinese railway,foreign loans were incredible.Secondly,the railway managed by merchants in several province were marked out and linked well with abut province.Thirdly,the railway business managed by merchants acquired good achieve...