The Leopoldina Railway Company was formed in London in 1897, and with the capital subscribed existing lines were acquired which have since been improved and largely extended; the series was bankrupt when taken over but with unification of the lines and the encouragement of agriculture along the course there has been a respectable dividend-earning for the last ten years. The company maintains demonstration farms at Nova Friburgo and Bem Fica in the interior of Rio State, where irrigation is applied to the rich little valleys that intersect a multitude of hills; on the hilltops coffee has been grown for half a century, and while this process has been one of gradual but certain exhaustion the valleys have been neglected. It is interesting to see, all along the Leopoldina’s lines, efforts made by the Brazilian small farmer to imitate the methods of Bem Fica. Another demonstration farm at the station of Campos, on the way to Victoria, was changed in a few months from a piece of waste land to a lusty field of cotton as an example; all this coastal belt is an old sugar country which should also be a great producer of cotton and fibres and fruit. Running on to the capital and port of the State of Espirito Santo, Victoria, the line serves at the latter end a hilly coffee country with one of the most wonderful winding panoramas of scenery in South America; a dormitory and restaurant service of high-class type operates between Rio and Victoria, and from this exquisitely framed little port, “_O Rio em miniatura_,” go out four million bags of Brazil’s coffee crop. The city lies at the end of a bay entrance of great beauty, green, broken by fantastic hills reflected in pellucid water; port works of the best modern design have been begun by the Leopoldina engineers, but when the writer visited the port in late 1915 work had practically ceased as a result of financial stringency. The hopes of Victoria to become one of the busiest centres of activity are high, for in addition to her coffee export trade she may serve as a great doorway for outgoing minerals from Minas Geraes: enormous iron deposits for which Victoria is probably the most logical outlet have been acquired by a British company and with the war over, are awaiting loosened purse-strings, for development. In addition to the coastwise link with Rio, the State of Espirito Santo is traversed in a north-westerly direction by a line which enters the valley of the Rio Doce and passes on into Minas Geraes; about four hundred and fifty kilometers are in traffic of this system, which, linking up with other lines in the south of Minas, will serve a fine region and add to the prestige of Victoria.