Stock Bank, Mine, Partnership, or any other joint trading concern, unless it be established under the new "Limited Liability" Act, as otherwise she is liable to lose her last penny if the Bank or speculation should fail. Even if "limited," they should not be invested in without the greatest possible caution, nor before very careful inquiries have been satisfactorily answered.

Shares in Railways, Canals, Gas and Water Works, may often prove good investments, but some risk necessarily attends them, as may be seen by the value of the Shares constantly rising and falling. The Interest or Dividend they pay is constantly changing, according to the state of trade, demand, &c.

These sorts of investments pay from 3 to 9sometimes even more, and sometimes much lessto original Shareholders (that is, to those who took Shares at the beginning of the concern), and from 3 to 5 per cent. to those who purchase Shares. Where the Company is equally success

ful year after year, their Interest is steady and safe, as it arises from the regular and large demand for gas and water, or the traffic on the railway or canal.

Guaranteed and Preference Shares are far safer investments than ordinary Shares. By the former are meant Shares which, if a certain fixed Dividend cannot be paid by their own Company, must be paid by the Company which guarantees them. They therefore cannot be paid less, but if the property is thriving they participate in the surplus. For Preference Shares, see Chap. III.

concern.

Do not put all your money into one Put it into several. Then if one falls in value another probably rises, and so your Income will keep more equal: if one of your investments unfortunately turns out a failure, you lose only a part and not the whole of your fortune. When you think you have placed your money in the

safest way you can, do not alter its investment without some good reason. Every change costs money, and is attended with trouble and anxiety.

In investing Capital, attend to the following suggestions:

Ist. Bank.-Select a safe and respectable Bank for the deposit of your money.

2dly. Asking advice. - Seek a sensible and upright Friend, who is a good man of business, to consult as to what concerns are safe or unsafe for investments. Many worthy men are bad men of business, and recommend investments because they hear or think they are good, without knowing anything of the matter. Men who are in business are in the habit of looking out for investments for their own money, and of hearing competent opinions upon them; and if they are upright in their dealings, and are doing well in the world, it is fair to presume that their judgment is good. Having found one,

be guided by him, and do not ask everybody's opinion, which only unsettles you.

Seldom consult ladies in business matters: they usually know little or nothing of business. It is much like the blind leading the blind.

Imposition. To show how easily an inexperienced man may be imposed upon, I may mention an anecdote I heard from a person who had been almost persuaded by a friend, who knew nothing of business, to take some Shares in a Company which promised extremely good interest. He went to the office, which was in the City, to make inquiries. The Manager tried much to persuade him to invest, assuring him of the safety of the concern. While C was hesitating, a man rushed in, and said in an eager tone,

Pray, Sir, have you any more Shares on sale? I have an order for fifty more, they are in such great request that I am afraid of their being all sold before I can get enough.". His manner and words opened C's eyes, who suspected that

this was a plan to entrap him to invest, and he quietly walked off. The Company failed in a very short time afterwards.

DOCUMENTS, TO PRESERVE.

good

Set up a neat tin box, or, what is better, a fire-proof box, to hold your Deeds, Scrip, Bonds, Receipts, and Papers of all kind connected with business. Keep this locked up in a safe place. Keep all papers, letters, &c. written to you on business, Reports, &c. Never burn any letter or paper on business; much trouble and loss is often occasioned by inexperienced persons doing this. In the course of three or four years, and not till then, you will learn what is necessary to keep and what is not.

Arrange your Papers under a few heads. Fold them up neatly of a size, and "docket" them; that is, write outside what they are, and the date of receiving them, thus