The publication of "La Compañía de los Caminos de Hierro del Norte de España: estructura empresarial y gestión contable (1900-1923)", by the 18th Demetrio Ribes Award winner, Miguel Ángel Villacorta Hernández, focuses on the most important areas of the economic discipline in the territory formation from its birth in the 19th century: railway. The Spanish railway sector has been throroughly studied for its relevant role in the economic progress and the territory vertebration. However, the organisation, management and accounting of railway companies has been left aside, something strange given the sector's contribution to the organisation, business and accounting sciences. This study on the Compañía de los Caminos de Hierro del Norte de España (NORTE), which became the most important company in Spain and the tenth in Europe, aims to analyse the accounting information from an amount and quality perspective, as well as the organisation structure from different points of view dynamically. The analysis goes through the whole lifetime of the company, but focuses economically on the first quarter of the 20th century, its golden era and because finance data manipulation practices unknown until now have been identified.