Mr. J. Cuthbert Hadden, who has made a study of this subject, says the supply of verse to-day is greatly in excess of the demand, and so it happens that in many quarters poetry is not paid for at all. Most of the minor poets whose volumes come before the public have to bear the whole expense of production themselves, and only a very small number escape without considerable loss. In this connection an amusing story regarding James Russell Lowell--not quite a minor poet--may be quoted. The cost of publishing his first book was borne entirely by Mr. Lowell himself, the edition being a plain but substantial one of 500 copies. The author felt the usual pride in his achievement, and hoped for almost immediate fame. Unhappily, only a few copies of the work were sold. Soon after, a fire occurred in the publishing house where the volumes were stored, and they were destroyed. As the publisher carried a full insurance on the stock, Mr. Lowell was able to realise the full cash value on his venture, and he had the satisfaction of saying that the entire edition was exhausted. The leading American novelists usually get £1,000 for a serial story in a magazine, and a similar sum when it is produced in book form. Bret Harte can command a thousand dollars for a single magazine article. Mrs. Grant received a cheque for £40,000 for her share of the first volume of General Grant's "Memoirs," and the whole of her share of the proceeds is put down at £100,000. In closing, we must remind our readers that there are two sides to every picture, and that countless instances of bitter disappointment and death are recorded in the annals of literature. Only a few in the mighty army of writers come to the front and win fame and fortune. "Declined with Thanks."