Business & Finance: Rail Centenary

The eastern railways of this country are preparing a series of celebrations to commemorate the 100th anniversary of steam transportation. It was on Sept. 27, 1825, that George Stephenson— patron saint of the railroad business ever since—first conducted at Darlington, England, his successful experiment. On that occasion his little "Locomotion I" painfully but steadily followed a man on horseback, pulling after it a train of cars, for 25 miles.

Americans had already built railway tracks in many parts of the country, but lacked satisfactory means of locomotion. They soon took up Stephenson's invention. In...

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