rank, all that the heart clings to, are broken here. It is a sad picture; for, in spite of all the glittering show, its associations are sombre. There hangs the watch, the old chased repeater, that hung above the head of a dying parent when bestowing his trembling blessing on the poor outcast who parted with it for bread; the widow's wedding ring is there, the last and dearest of all her possessions; the trinket, the pledge of love of one now dead, the only relic of the heart's fondest memories; silver that graced the holiday feast; the gilt-framed miniature that used to hang over the quiet mantel-shelf; the flute, the favorite of a dead son, surrendered by a starving mother to procure food for her remaining offspring; the locket that held a father's hair; or, gloomier still, the dress, the very covering of the poor, waving like the flag of wretchedness and misery. It is a strange, sad sight to those who feel aright. There are more touching memorials to be seen at a pawnbroker's window than in all the monuments in Westminster Abbey.-Newspaper par.

RAILROAD, CANAL, AND STEAMBOAT STATISTICS.

THE VERMONT CENTRAL RAILROAD.

THE Directors' report of this road was made July 1, 1848. It shows what had been accomplished at that time. The following is a brief abstract of the report:

The Connecticut River Division.-This division extends from Windsor to the mouth of White River-15 miles. It is entirely graded, and the bridges are built ready for rails. The White River Division.-This division extends from a point opposite West Lebanon, N. H., to Northfield-524 miles. It has been graded, and the rails laid, so that the road is in running c.der to Roxbury, within 10 miles of the depot at Northfield.

Winooski Division.-This division extends from Northfield to Burlington-50 miles. The amount expended up to August 1st, 1848, was $514,321 42. The estimated cost of putting the road in running order to Montpelier is about $150,000; and from Montpelier to Waterbury is $180,000.

The road from White River village to Bethel, 25 miles, was opened for use on the 26th of June, 1848. The gross receipts for passengers and freight from that date to the 20th inst., will appear from the following statement:

WEEKLY RECEIPTS OF VERMONT CENTRAL RAILROAD, 1848.

$5,475 88

$2,883 17

$8,359 59

CHEAP RAILWAY FARES IN ENGLAND.

If governments grant monopolies, and in the establishment of railroad routes it seems to be a necessary evil, they should also establish regulations to protect the public from unreasonable demands. The British government, it will be seen by the following paragraph, have adopted an order which will commend itself to the friends of justice and humanity everywhere:

By order of the Commissioners of Railways, upwards of 170 cheap or third class trains now run daily on the railways of the United Kingdom, extending over more than 4,000 miles, the object of the legislature being to secure to the poorer classes the means of travelling by railway at moderate fares, and in carriages protected from the weather. By the act it is incumbent upon every railway company to run one such train every day, at 1d. per mile, and a speed of at least 12 miles an hour. Children under three years of age

are to be taken without charge, and under 12 years, for half the charge for an adult. Any neglect of these regulations subjects the companies to penalties, and deprives them of the benefit of the remission of the passenger tax, which is allowed on all cheap trains.

STATISTICS OF BRITISH RAILROAD LEGISLATION.

The following tables, derived from official sources, will give a concise and pretty accurate history of the progress and extent of the railroad movement in the United Kingdom. From 1826 to 1847, inclusive, 889 acts authorizing railroads were passed, with a capital of £326,643,217. Amount nominally raised or called up to the end of 1847, £166,938,241; amount of calls to the end of September, 1848, £28,378,865=£195,317,106. Liabilities still resting on the public in respect of railway projects not completed, £131,326,111.

AMOUNT OF MONEY AUTHORIZED TO BE RAISED, AND TOTAL NUMBER OF ACTS PASSED FROM 1826 To 1847.

Total............. £256,730,619 £41,308,719 £28,613,897 £326,643,217 889

BRITISH RAILROAD CALLS, CAPITAL, AND DIVIDENDS.

The Companion to the British Almanac" for 1849 furnishes the following statistics and statements touching railway prices, calls, capital, dividends, &c.:

There has now, for three years, been an almost uninterrupted declension in the market value of railway property. It was dreaded by many cautious persons in 1845 that the then existing recklessness would bring about disastrous results. The disturbed state of political and commercial matters has undoubtedly contributed to this end; but it is indisputable that the depreciation is mainly due to the excessive absorption of capital in one particular species of enterprise; the much dreaded calls have drained away money which is legitimately required in other quarters. It may be useful to take twelve of the older companies, and compare the prices of their shares in one particular week of four successive years say the first week in August, which was about the height of the fever in 1845; we give also the prices for a later date. As three of the companies have each called up an additional instalment on their shares within this period, we will adjust the prices to "paid-up" shares, to render the comparison a fair one:

The average fall in the twelve companies has been 64 per cent in 3 years. Prices have since rallied a little. In some of the new companies, and also in respect to some of the new shares in the older companies, the depreciation is still more marked. Some of the shares are now (October, 1848,) worth less than nothing-they could not be given away; no one would accept them as a gift, unless accompanied by a bonus in money to induce the acceptance. This occurs where there are still further "calls" to be made on the shares; the liability to which rests with those in whose names the shares are registered. The calls made on the stock of the new companies, and on the various kinds of new shares in the old companies, have been excessively heavy in the last two years. Frequently the amount has reached a million sterling in a single week. In the first ten months (January to October, inclusive,) of 1847 the amount so called up was £31,955,355 for British railways, and £5,644,000 for British shares in foreign railways-making in the whole £37,599,355. In the first ten months of 1848 the calls amounted to £26,850,709 for British railways, and £3,102,071 for British shares in foreign railways-making in the whole £29,952,770. Bringing in the calls for the last two months of 1847, we find that in twenty-two months (January 1, 1847, to October 30, 1848,) there has been paid by British shareholders no less than £75,000,000 to the railway companies, or nearly £800,000 per week. Nearly the whole of this has been expended, besides loans on debenture. The capital invested in these undertakings has reached a most astounding amount. The following, in round numbers, represents the share capital and the borrowing powers of all the British railway companies, according to the acts of Parliament which sanction them:Acts. 184 £35,000,000 83 18,000,000

Acts.

1801 to 1840......

299

£69,000,000 1847.

1841 to 1844..

113

18,000,000 1848..

As nearly all railways have cost more than the Parliamentary estimates, the share capital and the borrowing powers will together more nearly represent the probable total outlay, than the share capital alone. There has been a feature in the railway system within the last twelve months which has been instrumental in depressing the market value of the shares, namely, the reduced rate of dividends paid by the leading companies. This

reduction has been brought about by four different causes:-1. The disturbed state of political and commercial affairs has considerably lessened the total amount of traffic in the country, both in passengers and merchandise. 2. By the opening of new and competing lines into particular districts, the portion of traffic which now falls to the share of the older companies is less than formerly. 3. Some of the old companies have leased or purchased particular lines on terms more lavish than the traffic has been found to warrant. 4. Some of the companies have issued new shares to pay off loans or debentures, which shares, by receiving dividends pro rata with the older shares, lessen the rate per cent receivable on each. From one or more of these causes combined, most of the old companies have been compelled to reduce the rate of dividend. The greatest of them all, the London and North-Western, has suffered a severe fall in this respect. In December, 1846, the dividend was at the rate of 10 per cent per annum; in June, 1847, 9 per cent; in December, 1847, 8 per cent; and in June, 1848, 7 per cent. The fall in the Great-Western has been from 8 to 7 per cent; in the South-Western, from 9 to 6; in the Midland, from 7 to 6; in the York and Berwick, from 9 to 8; in the York and North-Midland, from 10 to 8.

OSWEGO CANAL EXPORTS AND IMPORTS.

The imports of a few leading articles from the opening of navigation to December 1st, for three seasons, have been, says the "Oswego Commercial Times," as follows:

Flour......

Wkeat
Corn......
Lumber

.....

.bbls. ...bush.

1847. 147,786

1848.

3,140,537

87,017 3,597,308

914,430

1846. 67,506 2,305,020 319,119 361.405 ...feet 25,696,651 32,390,845 34,055,326

Since the close of the export season by the St. Lawrence, the Canadian flour has mostly come this way, which makes the receipts of flour at this port during the month of November about equal to the entire previous receipts of the season of navigation. A large portion of the flour received here during the season now drawing to a close has been entered as Canadian under the Warehousing Law. There is some flour and a number of cargoes of wheat to come in.

SALT. The exports of salt from the opening of navigation to December 1st, for three seasons, have been as follows:

The exports for December will carry the total number of barrels shipped in the season of 1848 up to about 410,000, showing a large increase upon the exports of any previous

season.

THE THREE GREAT RAILROADS OF ENGLAND.

We learn from the English papers that it is proposed to amalgamate the London and North-Western, Great-Western, and South-Western Railroads, an arrangement which will, if effected, create the most powerful combination ever known in Great Britain, and bring to one undertaking an amount of capital larger than any of her great national undertakings. The total amount of the capital of the amalgamated company will be £42,371,230, divided as under:-London and North-Western capital, raised by shares, £14,014,573; by loans, £9,186,672; total, £23,231,245. The shares in this company are 10,184 original shares, of £100 each, which are paid up; 55,000 London and Birmingham £25 shares, upon which £22 have been paid; 168,380 new quarter (£25) shares, upon which £7 only have been paid; 66,879 fifths, or £20 shares, on which £18 have still to be paid; 12,090 London and Manchester £40 shares, £25 paid and £15 due; 30,000 Manchester and Birmingham £10 shares, marked A, upon which £9 are paid; 60,000 ditto, marked B, £9 paid; 70,000 marked C, £1 paid. Consequently, the company have power to make calls to the amount of £5,251,012.

The capital of the Great-Western is £11,457,277; £6,478,221 being raised by shares, and £4,979,056 by loan. The share capital is divided as under:-25,000 shares of £100 each, £90 paid up; 28,000 £50 shares, all paid; 93,000 £25 shares, upon which £4 are still due; 37,500 £20 shares, paid up; and 69,700 new £17 shares, on which £13 have been paid. This company has still power to make calls to the amount of £761,400. The South-Western Company has raised from shares £6,075,387, and by loans

£1,609,350, or a total of £7,684,737. The South-Western shares may be classed as under:-25,840 £50 paid up shares; 60,000 new £50 shares, upon which £42 10s. have been paid; 46,500 £40 shares, upon which £34 have been paid; 9,266 £50 consolidated tenths, paid up; 12,000 £40 consolidated tenths, paid up; 120,560 £16 13s. 4d. thirds, upon which £13 6s. 8d. have been paid; 147,766 new 7 per cent scrip, upon which £1 13s. 4d. only have been called up. This company has, therefore, power to make calls to the amount of £2,815,798 6s. 8d.

The amalgamated companies will, by their present powers, be entitled to call up, within the time allowed by the act for doing so, the sum of £8,819,201 6s. 8d. The entire weekly receipt of the three companies, should they not exceed their present average, will be £70,000 per week, or £3,640,000 per annum. The number of miles of railway over which the companies will have control will be nearly 2,000, upwards of 1,000 of which they will have in their absolute possession. The great company will, by means of their own and other lines, in which they are beneficially interested, have the entire traffic from Plymouth to Perth.

COMMERCIAL STATISTICS.

COMPARISON OF THE BUSINESS OF THE UPPER LAKE PORTS ABOVE BUFFALO. No benevolent mind can fail to take pleasure in contemplating the rapid increase in numbers, comforts, and intelligence of the American Union. No nation, among all the great communities of men that are pushing forward to a higher physical and moral condition, is advancing with such rapid strides as these States. Dividing these into nonslaveholding and slaveholding, the intelligent man will feel no difficulty in deciding that the former are decidedly more flourishing than the latter. If, again, we divide the free States into old and new, it will be equally apparent that the new are pushing ahead much faster than the old. Of the new free States, that portion lying on the great lakes west of Buffalo has been improving faster, for some dozen years past, than any other large section. The causes of this superiority are permanent, so that no one need expect a change for very many years to come.

This favored region, scarcely known to commerce fifteen years ago, has suddenly become one of the leading granaries of the world. As yet, it is almost purely agricultural. But so great are its natural resources, and such the intelligent industry of its inhabitants, that it will, ere long, become a favorite home of commerce and manufactures. The variety and extent of its commerce is every year attracting the admiring attention of those who witness it. Its commercial points every year increase the circle of their commercial power. Although at present chiefly engaged in the exchange of the products of a new country for manufactures and the products of other climates, there is more variety in their commercial transactions, and more to characterize the business of each of their leading marts, than is generally supposed.

It is proposed, in this article, to exhibit these characteristics, as shown by the statement accompanying the report of the Executive Committee of the Chicago Convention. These statements, as near official as they could be made, exhibit the business of the year 1847. We have examined and compared the business of the ten principal lake marts above Buffalo, and now give the results in tabular form: