Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1831-12-29

a source of profit, that, notwithstanding the mi.
SCRABBLE failure in the other Department. Il Is sun
productive concern on the whole, though scarce.
iy half so much so as some OF the proPrietors had
iattered themselves that it would be. Not long
ago, was struck by an expression which fell
from one of them, who is pretty deeply embark
ed, but who, if mistake not, has had his own ex-
pectations little sobered Of late. He compar-
ed the whule concern to balloon. which, by the
buoyancy of its gas, is enabled to carry consde'
rable weight. Now this appears to be pre-
cisely the state of the case: SO long as they have
plenty of gas, all will 90 on pretty well; but then
the supply Of this is limited Surprising, there
fore, that an opposition company should start
and that having saddled themselves, as they needs
must. with an equal quantity Of dead weight, they
had, after severe struggle with the former con-
trived to get possession Of fully half OF their gas
what must be the onsequence!-why, that
though they had spoilt the sport OF Others 'hey
were not in much better plight themselves; that
neither of the balloons would rise; that, I'D TACT
they were like two boxers after hard fought bat
tie, nearly alike crippled. You cannot WONDER
Gentlemen, if we of the Leeds and Liverpool Ca
nal are disposed to exult over YOU now that our
turn is come for it was ourselves, in the hrst and
foremost place, whom you had marked for slaugh'
ter: nav, YOU could not possibly succeed TILL you
had despatched US, just the kite must 60 with
out his breakfast till he has caught his prey.
Much more might be said but for the present,
leave you to vour own meditations, only refer
ring you for further information to those concern
ed in the Bolton railway. which Is actually 10
operation, (which was also to have been the ANNE
date death of US, thought somehow on other' u
has failed to be so. Perhaps by this time they
can tell you how much clear gain they nave PocN'
eted, or are liknly to pocket.
Hereafter may possibly address you again;
in the meantime, remain, with all the good wish
es for you and yours which you entertain Tor US
and ours.
II Shareholder in the Leeds s. liverpool Canal.
Sept. 90. 1891.
p.S. Since the above was written, my atten-
ton has been directed to fine, hourishing &C
count of the present state Of your concern which
appeared in Mondays paper, from which an III
experienced stranger might possibly infer that
your affairs were in most prosperous condition,
though. to one who may examine it more closely,
it will appear like putting advertisement. The
writer very prudently deals much in generals;not
a word about the discount to which your shares
are fallen. He does not fail, however, to con-
graduate you OH having been SO fortunate as to
have purchased the Bolton canal. Now this beats
ALL A fine subject for congratulatlon, truly,
that YOU bound yourselves to give the former pro,
prietors P2OO per share for their canal, on cOndl-
lion that they could obtain an act, TO convert II
into railway. which they have now obtained; and
thew will mold you to your bargain, though, other
wise, it is probable that if the matter had been
differently set about. most OF them would have
been led to sell their shares to you at P10O. for
they had been at 99o;and cannot learn that they
ever divided more than "a los. per share!
But now that you have been 50 fortunate as to
get this canal at only twice its value, with per-
mission to convert it into railway, if you can.
pray what do YOU mean to do wi,hit? TO make
railway Of it for any good purpose is, am as
sured, impossible if itwere only on account OF the
number Of sharp tnrns in it; so that, even supP's
ing you to have run away with ever SO many q! o.
the passengers of the other line, you will still
have to contrive how you are to get them forward
ed from Bolton to Manchester.
By the bye, if you wish to annihilate another
canal by buying up the shares at twice their mar
ket price, will you do the same by ours? and l.,
for one, shall be glad to treat with you.