" Railways
are now built in Australia for $50,000 per mile.
The railways of the United States occupy a very favorable position, both as
to cost and amount of receipts per mile. During the last ten years, the
principal efforts of their managers have been directed toward increasing
the receipts. During the next ten, their policy will be to diminish the
working expenses, leaving the receipts to increase with the natural growth
of the country, and avoiding unhealthy competition for that delusive
phantom, "through-trade," which has lured so many railways to financial
shipwreck and ruin. If this policy be steadily followed, we shall see
railway stocks once more a favorite investment.
* * * * *
IN A FOG.
A few minutes before one o'clock on the morning of Sunday, the 8th of
February, 1857, Policeman Smithers, of the Third District, was meditatively
pursuing his path of duty through the quietest streets of Ward Five,
beguiling, as usual, the weariness of his watch by reminiscent
AEthiopianisms, mellifluous in design, though not severely artistic in
execution. Passing from the turbulent precincts of Portland and Causeway
Streets, he had entered upon the solitudes of Green Street, along which he
now dragged himself dreamily enough, ever extracting consolations from
lugubrious cadences mournfully intoned. Very silent was the
neighborhood. Very dismal the night. Very dreary and damp was Mr. Smithers;
for a vile fog wrapped itself around him, filling his body with moist
misery, and his mind with anticipated rheumatic horrors.
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