lately about a work called _Tracts for the
Times_. With the opinions contained in that publication, he was not
conversant, as it was conducted by persons of another community from
that to which he (Mr Sawley) had the privilege to belong. But he hoped
very soon, under the auspices of the Glenmutchkin Railway Company, to
see a new periodical established, under the title of _Tracts for the
Trains_. He never for a moment would relax his efforts to knock a nail
into the coffin, which, he might say, was already made, and measured,
and cloth-covered for the reception of all establishments; and with
these sentiments and the conviction that the shares must rise, could it
be doubted that he would remain a fast friend to the interests of this
Company for ever? (Much cheering.)

After having delivered this address, Mr Sawley affectionately squeezed
the hands of his brother directors, and departed, leaving several of
us much overcome. As, however, M'Corkindale had told me that every one
of Sawley's shares had been disposed of in the market the day before,
I felt less compunction at having refused to allow that excellent man
an extra thousand beyond the amount he had applied for,
notwithstanding of his broadest hints, and even private entreaties.

"Confound the greedy hypocrite!" said Bob; "does he think we shall let
him Burke the line for nothing? No--no! let him go to the brokers and
buy his shares back, if he thinks they are likely to rise. I'll be
bound he has made a cool five hundred out of them already."

On the day which succeeded the allocation, the following entry
appeared in the Glasgow share lists. "Direct Glenmutchkin Railway.
15s. 15s.6d. 15s.6d. 16s. 15s.6d. 16s. 16s.6d. 16s.6d. 16s. 17s 18s.
18s. 19s.6d. 21s. 21s. 22s.6d. 24s. 25s. 6d. 27s. 29s. 29s.6d. 30s.
31s. pm."

"They might go higher, and they ought to go higher," said Bob
musingly; "but there's not much more stock to come and go upon, and
these two share-sharks, Jobson and Grabbie, I know, will be in the
market to-morrow. We must not let them have the whip-hand of us. I
think upon the whole, Dunshunner, though it's letting them go dog
cheap, that we ought to sell half our shares at the present premium,
whilst there is a certainty of getting it."

"Why not sell the whole? I'm sure I have no objections to part with
every stiver of the scrip on such terms."

"Perhaps," said Bob, "upon general principles you may be right; but
then remember that we have a ve