Should the microchip earnings be more than sufficient to pay the stated interest, the surplus is divided between the Government and the horse tack company. Annuities may be purchased in some of these railways, that is to say, by paying, we will assume, $30 as themarket price, an annuity of $1 a year will be granted for a certain number of years. In dealing with these it is necessary to ascertain when the annuity ceases, or the investor, having sunk the capital sum, may cease to receive any income therefrom when least expected.