The last Royal journey was a short one, again over the Mid-Wales section, in July 1920, to enable the King to inaugurate the Welsh National Memorial institution at Talgarth, on which occasion his Majesty was graciously pleased to express high appreciation of the facilities ever afforded by the Board and management whenever he travelled over their system. And on this gratifying note we may appropriately bring our record of Cambrian "incidents" to a close. CHAPTER XI. THE CAMBRIAN OF TO-DAY. "_To stretch the octave 'twixt the dream and deed_, _Ah! that's the thrill_."--RICHARD LE GALLIENNE. I. And so, by devious routes and with many a halt by the way, we come to the Cambrian of to-day. In such a chronicle as this demarcations of time must necessarily appear more or less arbitrary, and if we include under this heading a period which goes back to 1904, it is merely because it is from that year the system has, with only some subsequent minor extensions in mileage, assumed the organic form familiar to us at the present time. For it was then that the policy of amalgamation, entered upon forty years earlier with the consolidation of the various independent companies, was carried forward another important stage, and it is since that date the most significant developments, both in road and rolling stock, made necessary by the ever-increasing demands of modern traffic conditions, have mainly been accomplished. [Picture: Officers of the Cambrian Railways at the date of Amalgamation, March 25th, 1922. Left to Right: Seated--W. Finchett (Goods Manager), R. Williamson (Accountant), G. C. McDonald (Engineer and Locomotive Superintendent), S. Williamson (Secretary and General Manager), W. K. Minshall (Solicitor), T. S. Goldsworthy (Storekeeper), H. Warwick (Superintendent of the Line). Standing--E. Colclough (Works Manager), J. Williamson (Assistant Engineer), S. G. Vowles (Assistant Secretary), J. Burgess and T. C. Sellars (Assistants to the General Manager)]