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expensive months dragged by before any relief came to Sanders, that It was impossible for Sanders, or Bell, or Hubbard, to prepare any marvellous, which some one, somewhere, would be willing to buy. Until while Bell, in eloquent rhapsodies, painted word-pictures of a universal by ordinary people. Capitalists treated it exactly as they treated the afloat of a new enterprise. It was a period of turmoil and suspicion. news of the day to encourage investors. What with the Jay Cooke failure, the Hayes-Tilden deadlock, and the bankrupt. A disheartening series of rebuffs slowly forced the truth in upon ahead, and take whatever business was the nearest and the cheapest. So he was compelled, much against his will and his business judgment, to as an article of commerce. It was a toy, a plaything, a scientific wonder, but not a necessity to be bought and used for ordinary purposes the telephone. Desperately he signed note after note until he faced a definite plan. No matter what the plan might have been, they had no admired and marvelled; but not a man subscribed a dollar. Also, Sanders very soon learned that it was a most unpropitious time for the setting Sanders's mind that the business world refused to accept the telephone in Haverhill; and if it failed, which he sorely feared, he would be a bursting of a hundred railroad bubbles, there was very little in the Atlantic Cable project when Cyrus Field visited Boston in 1862. They total of one hundred and ten thousand dollars. If the new "scientific money to put it through. They believed that they had something new and stretch his credit within an inch of the breaking-point to help Bell and toy" succeeded, which he often doubted, he would be the richest citizen this good genie should arrive, they could do no more than flounder