THE LIBRARY COMPANY, LIMITED.

I venture to refer again to the Library Company, Limited, for it was a noted if not a great event in the lending book world of England. As a matter of fact, beyond Mr. Mudie getting an enormous advertisement out of his guinea book lending venture, it was very questionable whether there was ever any great profit on it, when those subscribers had a good supply of new books for their small out-lay. At all events, upon the face of it, it seemed as though Mudie was making tons of money, for all the world and his wife supported him in the venture.

And so, as it was a good time for limited liability, and plenty of money was to be had from the public for any kind of stupid promises, it occurred to a friend of Mr. Mudie that he would start the Library Company, Limited, and offer the loan of new books for just one half the amount of Mr. Mudie's lowest charge. I have ventured to hint that, except for its good advertisement, Mr. Mudie's cheap subscription was no great profit to him.

But it required no calculation in the mind of anyone who could put two and two together to know that the Library Company, Limited, was a venture altogether beyond the probability of success, and yet the promoters obtained for shares some two or three hundred thousand pounds.