We must raise the salaries of our operators or they will all be taken from us, that is, all that are good for anything. You will recollect that, at the first meeting of the Board of Directors, I took the ground that 'it was our policy to make the office of operator desirable, to pay operators well and make their situation so agreeable that intelligent men and men of character will seek the place and dread to lose it.' I still think so, and, depend upon it, it is the soundest economy to act on this principle.