Mr. Tetsner, who was lately Head Manager of the Russian Transport and Insurance Co. (founded 1844), has had much experience in transport business, and the following article regarding the development of the railways coming under his personal observation should prove interesting to readers. Mr. Tetsner has a distinguished educational record. In 1902 he graduated from the University College of St. Petersburg, the Imperial Alexander Lyceum, with honours in Economics, Law and Commerce, and in 1905 he graduated from the Berne University, Switzerland, in Economics and Finance, holding corresponding Degrees.