mutton-chop, which was always ready for him
about this time.

Meanwhile, Miss Cantanker returned at the
top of her speed, and entered the house modestly
by the kitchen entrance. There was something
of secresy now about all her actions.

STARTING THE RIO GRANDE
RAILWAY.

OUR scheme was an excellent one. A more
"taking" prospectus was never printed east
of Temple-bar. There were originally but
two promoters of the undertaking, Wilson and
myself; but, as will be seen presently, we
admitted a third party into partnership with
us. We were both—Wilson and myself—
barristers, but barristers without briefs, and
with no money to speak of. The long vacation
was approaching, the heat of London made
the Temple and Fleet-street no longer bearable,
and yet we had not the means to leave town.
Something had to be done. The sum total
of my worldly wealth was two pounds six
and fourpence, nor was I likely to receive any
money until Michaelmas-day. Wilson was still
poorer, for he had changed his last sovereign.
We neither of us owed much; but, to remain
behind every one after the world had fled from
town, was intolerable. Failing every other
resource, we determined to start a joint-stock
company, of which I was to be the secretary,
Wilson the general manager, and the two of us
together were to be the joint promoters.

For a long time we hesitated whether we
should start a bank, a financial company, a new
mine, or a railway. We decided in favour of a
railway. But in what part of the world?
Europe was out of the question; and, after
sending for one of the first prospectus writers
in the City, we invested every shilling of our
own ready money in a prospectus for " THE
RIO GRANDE AND MEXICO GRAND JUNCTION
RAILWAY COMPANY," on the "limited liability"
principle. The amount of capital we fixed to
be five millions sterling, divided into two hundred
and fifty thousand shares of twenty pounds
each, of which, as we announced.only five pounds
was to be called up for the present.

It may be asked what made us fix upon the
Rio Grande as the place where our imaginary
railway was to be constructed. All I can say
in reply is, that one spot seemed quite as good
as another to set up a concern which was really
never to have life, except what it derived from
the printed prospectus. Nevertheless, we chose
to say that a railway was very much wanted
from the banks of the Rio Grande to the city
of Mexico, and that the two first sections of
the line would be commenced directly. If
any one attacked us and tried to prove that
no railway was wanted in this region, we should
sue him for libel. Besides, we knew we were
quite safe in every way. In England—on the
Stock Exchange, and in the open market for
shares—speculation has got to such a pace, that
it does not care one iota whether an undertaking
will eventually pay or not. Who now applies
for shares as an investment? Provided the
concern will rise to a premium, who cares what
is its eventual fate? To make it rise to this
needful premium, all that is necessary is to
have, or make people believe you have, men of
influence and wealth connected with it. It is
rather a nuisance, indeed, to have a really
legitimate undertaking to praise up. It takes away
half the zest of speculation. Like some of the
hunting men of the present day—who often
declare that hounds are rather in the way than
otherwise, and that the pace would be all the
better if they had not to think of dogs or fox
—the great mass of speculators in England
never dream of inquiring whether the concern
is good or bad, provided always that it pays.

We set to work. Our first business was to
get up a board of directors. This we—or rather
I, for the experience in the preliminary part of
the undertaking was mine, not Wilson's*—
resolved to do by a judicious admixture of the City
and the West-end. I was wise enough to know
that as there is nothing which your regular business
man likes so well as having anything to do
with a title, so lords, honourables, baronets,
knights, landed gentry, generals, admirals,
colonels, and so forth, always believe
themselves to be quite safe when associated with
City men.
* See BANK OF PATAGONIA, vol. xiii., page 485.

There had been with me at Cambridge (for I
am an A.M. of Trin: Coll: Cam:) a certain
Honourable Francis George Albert Coburg
Dunstraw, captain and lieutenant-colonel in the
Guards, with whom I had kept up a nodding
intimacy. His lordship had more than once
dined with me at the Oxford and Cambridge,
and I had partaken of his hospitality at the
Rag, of which, unlike most Guardsmen, he was
a member. He was by no means a fast man,
although he enjoyed life, and had everything of
the best that could be had. His income was
large, and his father's savings had left him
quite enough ready money to get through the
process of what is called sowing wild oats, to
almost an unlimited extent.

I went to his lordship, and frankly explained
what I wanted. I promised that his name
should not appear on the printed prospectus
of the company, unless seven or eight more
respectable persons, whose names should be
submitted to him, could be published at the
same time. I also informed him, what was
really the case, that he would not be liable for
more than the shares which he actually
subscribed for, and that, even as a director of the
company, I would not ask him to put down his
name for more than twenty-five shares, which, at
ten pounds each, would only be two hundred and
fifty pounds, even if he lost everything. I did
not mention the subject of profit to him, for I
knew he did not care for that, and that if he
consented to become a director, it would be
solely out of kindness to me, and not with a