I confess that, when I rose on the morrow, with a slight headache and a tongue indifferently parched, I recalled to memory, not without perturbation of conscience and some internal qualms, the conversation of the previous evening.  I felt relieved, however, after two spoonfuls of carbonate of soda, and a glance at the newspaper, wherein I perceived the announcement of no less than four other schemes equally preposterous with our own.  But, after all, what right had I to assume that the Glenmutchkin project would prove an ultimate failure?  I had not a scrap of statistical information that might entitle me to form such an opinion.  At any rate, Parliament, by substituting the Board of Trade as an initiating body of inquiry, had created a responsible tribunal, and freed us from the chance of obloquy.  I saw before me a vision of six months’ steady gambling, at manifest advantage, in the shares, before a report could possibly be pronounced, or our proceedings be in any way overhauled.  Of course, I attended that evening punctually at my friend M’Corkindale’s.  Bob was in high feather; for Sawley no sooner heard of the principles upon which the railway was to be conducted, and his own nomination as a director, than he gave in his adhesion, and promised his unflinching support to the uttermost.  The prospectus ran as follows: 

    “DIRECT GLENMUTCHKIN RAILWAY,”

     IN 12,000 SHARES OF L20 EACH.  DEPOSIT L1 PER SHARE.

     Provisional Committee.

     SIR POLLOXFEN TREMENS, Bart.  Of Toddymains. 
     TAVISH M’TAVISH of Invertavish. 
     THE M’CLOSKIE. 
     AUGUST REGINALD DUNSHUNNER, Esq. of St. Mirrens. 
     SAMUEL SAWLEY, Esq., Merchant. 
     MHIC-MHAC-VICH-INDUIBH. 
     PHELIM O’FINLAN, Esq. of Castle-Rock, Ireland. 
     THE CAPTAIN of M’ALCOHOL. 
     FACTOR for GLENTUMBLERS. 
     JOHN JOB JOBSON, Esq., Manufacturer. 
     EVAN M’CLAW of Glenscart and Inveryewky. 
     JOSEPH HECKLES, Esq. 
     HABAKKUK GRABBIE, Portioner in Ramoth-Drumclog.
     Engineer, WALTER SOLDER, Esq.
     Interim Secretary, ROBERT M’CORKINDALE, Esq.

“The necessity of a direct line of Railway communication through the fertile and populous district known as the VALLEY OF GLENMUTCHKIN has been long felt and universally acknowledged.  Independently of the surpassing grandeur of its mountain scenery, which shall immediately be referred to, and other considerations of even greater importance, GLENMUTCHKIN is known to the capitalist as the most important BREEDING-STATION in the Highlands of Scotland, and indeed as the great emporium from which the southern markets are supplied.  It has been calculated by a most eminent authority that every acre in the strath is capable of rearing twenty head of cattle; and as it has been ascertained, after a careful admeasurement, that there are not less than TWO HUNDRED THOUSAND improvable acres immediately