From this it will be seen how much economy of working has to do with paying a dividend,—as in the case of the Indian railways, where, although the receipts are very small, the prime cost and expenses of working are also very small, and they divide 4.09 per cent, while the Australian railways, whose cost and expense of working are large, can pay only 1.02 per cent. It is proper to say, however, that this was during the "gold fever." 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 Æthiopianisms, 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. Still he surged heavily along, tired Nature with tuneful charms sweetly restoring.
As he wound off a tender tribute to the virtues of the Ancient Tray, and was about sounding the opening notes of a requiem over the memory of the lost African Lily, surnamed Dale, one o'clock was announced by the bell of the Lynde-Street Church. Mr. Smithers's heart warmed a little at the thought of speedy respite from his midnight toil, and with hastening step he approached Chambers Street, and came within range of his relief post. He paused a moment upon the corner, and gazed around. It is the peculiar instinct of a policeman to become suspicious at every corner.
Nothing stirring. Silence everywhere. He listens acutely. No sound. He strains his eyes to penetrate the misty atmosphere. He is satisfied that order reigns. He prepares to resume his march, and the measure of his melancholy chant.
Three seconds more, and Policeman Smithers is another being. Now his hand convulsively grasps his staff; his foot falls lightly on the pavement; his carol is changed to a quick, sharp inhalation of the breath; for directly before him, just visible through the fog, a figure, lightly clad, leans from a window close upon the street, then clambers noiselessly upon the sill, leaps over, and dashes swiftly down Chambers Street, disappearing in the darkness.
Gathering himself well together, in an instant, Mr. Smithers is off and away in pursuit. His heavy rubber-boots spatter over the bricks with an echo that startles the sober residents from their slumbers. Strong of limb, and not wholly unaccustomed to such exercise, he rapidly gains upon the fugitive, who, finding himself so hotly followed, utters a faint cry, as if unable to control his terror, and suddenly darts into one of the numerous narrow passages which connect Chambers and Leverett Streets.
Not prepared for this sharp dodge, Mr. Smithers is for a moment unable to check his headlong plunges, and shoots past the opening a yard or two before the wet sidewalk affords him a foothold.
In great wrath, he turns about, and gropes his way cautiously through the lane in the narrow labyrinth of which the fugitive has disappeared,—always cautiously, for there are precipitous descents in Hammond Avenue, and deep arched door-ways, from which a sudden onslaught might be dangerous. But he meets no interruption here. Emerging into Leverett Street, he with difficulty descries a white garment distantly fluttering in the feeble light of a street-lamp. Any other color would have eluded him, but the way is clear now, and it is a mere question of strength and speed. He sets his teeth together, takes a full breath, and gives chase again.
Mr. Smithers has now passed the limits of his own beat, and he fears his adventure may be shared by some of his associates. For the world he would not have this happen. Nothing could tempt him at this moment to swing his rattle. His blood is roused, and he will make this capture himself, alone and without aid.
He rapidly reconsiders the chances.
"This fellow does not know the turns," he thinks, "or he would have taken Cushman Avenue, and then I should have lost him."
This is in his favor. On the other hand, Mr. Smithers's action is impeded by his heavy overcoat and rubber boots, and he knows that the pursued is unincumbered in all his movements.
It is a fierce, desperate struggle, that mad race down Leverett Street, at one o'clock on Sunday morning.
At each corner, the street-lamps throw a dull red haze around, revealing the fugitive's slender form as he rushes wildly through. Another moment, and the friendly fog shelters and conceals him from view.
Breathless, panting, sobbing, he ere long is forced to relax his speed. The policeman, who has held his best energies in reserve, now puts forth his utmost strength.
Presently he gains upon the runaway so that he can detect the white feet pattering along the red bricks, rising and falling quite noiselessly. He ejects imprecations upon his own stout boots, which not only fail to fasten themselves firmly to the slippery pavements, but continually betray by their noisy splashing his exact position.
As they pass the next lamp, Mr. Smithers sees plainly enough that the end is near. The fugitive touches the ground with only the balls of his feet, as if each step were torture, and expels his breath with unceasing violence. He does not gasp or pant,—he groans.
Just at the bend in Leverett Street, leading to the bridge, there is a dark and half-hidden aperture among the ill-assorted houses. Into this, as a forlorn hope, the fugitive endeavors to fling himself. But the game is up. Here, at last, he is overhauled by Mr. Smithers, who, dropping a heavy hand upon his shoulder, whirls him violently to the ground. Having accomplished this exploit with rare dexterity, he forthwith proceeds to set the captive on his feet again, and to shake him about with sprightly vigor, according to established usage.
Mr. Smithers next makes a rapid but close examination of his prize, who, bewildered by the fall, stares vacantly around, and speaks no word. He was a young man, apparently about twenty years old, with nothing peculiar in appearance except an unseasonable deficiency in clothing. Coat, waistcoat, trousers, boots, hat, had he none; shirt, drawers, and stockings made up his scant raiment. Mr. Smithers set aside the suspicion of burglary, which he had originally entertained, in favor of domestic disorder. The symptoms did not, to his mind, point towards delirium tremens.
Suddenly recovering consciousness, the youth was seized with a fit of trembling so violent that he with difficulty stood upright, and cried out in piteous tones,—
"For God's sake, let me go! let me go!"
Mr. Smithers answered by gruffly ordering the prisoner to move along with him.
By some species of inspiration—for, as the era of police uniforms had not then dawned, it could have been nothing else—the young man conceived the correct idea of the function of his custodian, and, after verifying his belief, expressed himself enraptured.
All his perturbation seemed to vanish at the moment.
The affair was getting too deep for Mr. Smithers, who could not fathom the idea of a midnight malefactor becoming jubilant over his arrest. So he gave no ear to the torrent of excited explanations that burst upon him,