seen by
her holdings in U.S. registered bonds. The four leading states are
reported as follows:--

No. of Per cent. of
Persons. State. Bondholders. Amount.

16,885 Massachusetts, 23.05 $45,138,750
10,408 Pennsylvania, 14.23 40,223,050
14,803 New York, 20.24 210,264,250
4,130 Ohio, 5.65 16,445,050

In the classification of the four leading states, of assessed valuation
and taxation, it appears that the assessed valuation of her personal
property exceeds that of any state.

The four leading states are thus classified:--

Area Real Personal Total
State. Sq. M. Estate. Property. Total. Tax.

N.Y. 47.620 $2,329,282,359 $323,657,647 $2,651,940,006 $56,392,975
Penn. 44,985 1,540,007,657 143,451,059 1,683,459,016 28,604,334
Mass. 8,040 1,111,160,072 473,596,730 1,584,756,802 24,326,877
Ohio 40,760 1,093,677,705 440,682,803 1,534,360,508 25,756,658

The grandest monument of human skill in modern railway science is
unquestionably the St. Gothard Tunnel which connects the valley of the
Reuss with the valley of the Ticino, which is from 5,000 to 6,500 feet
below the Alpine peaks of St. Gothard, being a little over 9-1/4 miles
in length, costing over $47,000,000, one-half of which was paid by the
governments of Italy, Germany, and Switzerland. Until its completion in
1880, there was but one railway tunnel, Mont Cenis, that outranked our
own Hoosac Tunnel of nearly 5 miles in length and costing about
$10,000,000.

The service, equipment, and management of Massachusetts' railway system
is well nigh perfect. Out of 4,100 miles of track in the state, 2,453
are laid with the steel rail. Including the 1,150 engines, 1,554
passenger cars, 394 baggage cars, and 24,418 freight cars, the total
cost of railroad equipment in the state has been $178,862,870; from this
investment the total earnings in 1884 reached $33,020,816 from which
$4,568,274 were paid in dividends. The number of passengers carried were
57,589,200 and 17,258,726 tons of freight moved. One of the most
important elements in her system is the Boston and Albany. Its engine
service the past year was 5,680,060 miles, the company carried 94,721
through passengers and 8,699,691 way,