gyana line for the
excellence of the service and the perfection of the rolling stock. I
inspected the entire train and was amazed to find such beautiful and
comfortable carriages, provided with the latest improvements for
passengers of all classes. It is seldom I have seen in any country a
train look so "smart" as the one in which I travelled from Riberao Preto
to the terminus of the line. The appointments of every kind were
perfect, the train ran in excellent time, and very smoothly over
well-laid rails. The special car in which I travelled was "palatial and
replete with every comfort," if I may use the stock words invariably
applied to railway travelling.

Here are a few interesting points regarding the Mogyana Railway.

By a provincial law (Sao Paulo) of March 21st, 1872, a guaranteed
interest of 7 per cent on a capital of 3,000,000 milreis was granted for
ninety years for the construction of a railway of 1 metre gauge from
Campinas to Mogymirim, and of a branch line to Amparo, to the north-east
of Campinas and due east of Inguary. By a similar law of March 20th,
1875, a guaranteed interest was granted for thirty years as to the
capital of 2,500,000 milreis for a prolongation of the line to Casa
Blanca.

By a provincial law (Minas Geraes) of October 1st, 1881, another
guarantee was granted of 7 per cent for thirty years, upon a maximum
capital of 5,000,000 milreis, for a continuation of the railway through
the provincial territory from the right bank of the Rio Grande to the
left bank of the Paranahyba River. Finally, by a provincial contract of
Minas Geraes of October, 1884, a further guarantee was granted of 7 per
cent for thirty years, on a maximum capital of 5,000,000 milreis, for the
construction of the prolongation of the railway from its terminal point
at the Rio Grande as far as the Paranahyba via the city of Uberaba.

In view of other important concessions obtained, one may consider that
the Mogyana Company is perhaps the most important railway concern in
Brazil, up to the present time. It does great credit to Brazilians that
the railway was constructed almost entirely by capital raised on bonds in
Brazil itself, the only foreign loan issued in London being a sum raised
amounting merely to L341,000 at an interest of 5 per cent. Between the
years 1879 and 1886 the Company returned to the Government of Sao Paulo
the interests received, thus liquidating its debt. A decree of October
18th, 1890, fixed the ca