I desire to sell as much of my Three per Cent. Stock as will produce Twelve hundred pounds. Please procure a Power of Attorney to sell that amount only, and cause the sale to be made.

April 3, 1863.

Ellen Layton.

N.B.-Remember, whenever a sale takes place, a fresh Power of Attorney is required, unless you are willing to run the risk of giving your Banker or others a Power of Attorney for the whole sum you have in the Stocks. (Not a wise plan.)

In about two days afterwards, a printed letter will come, directed to you at your address, thus:

Application has been made for a Power of Attorney for a Transfer of Consols standing in your Name.

"A Reply to this Communication is only required in case the Application has not been sanctioned by

you.

Signed

A. B.

Chief Accountant."

Suppose the Consols are at 933, you will receive from the Broker (through your Bankers) a paper

like this:

London, 21, Threadneedle Street.

Date.

Sold for (Here the Banker's name will be put).

Personal Attendance.-In buying into the Government Funds, many people (if in London) like to go themselves to the Bank of England. If you prefer to do so, then, after the Broker has given you the Purchase Memorandum, usually called Stock-receipt, you must go with him (even though you are a Lady) to the Transfer Office in the Bank of England, and see that the

amount of Stock purchased is entered into the Bank books to your name. You must also sign your name in the Transfer books, by which means the clerks will know your signature. The signing

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your name is called Accepting Stock." The Bank authorities prefer purchasers doing this personally, as it prevents fraud.

Signature and Formalities.—In selling Government Stock, write down legibly for your Broker, your name, address, and quality, exactly in the same way as it was entered in the Bank books when you bought the Stock. It is best to refer to the same address as, "late of

if you have removed elsewere.

The Broker will undertake to see that the Transfer is all right. He will give you a plain account of how much Stock he has sold, and what you have to receive. You can then go with the Broker to the Transfer Office, to transfer that amount to the purchaser. It is the Broker's duty to see that all is done properly; and, if

necessary, to identify you as having been the possessor of that amount of Stock.

A Trustee can transfer Stock to another without selling it.

In transferring Stock, Brokers charge per Cent.

Advantages of investing in the Funds.-The convenience of putting money into the Funds is great, because small savings can be readily invested. If you buy in at £80 you will get 3 per cent. on your money; if at £86, 31 per cent.; if at £92, 3 per cent.; and if at £100, 3 per cent. It is advisable to keep your papers secure and unseen by improper persons, to prevent them or their accomplices from applying in your name.

Stock Loan.-In lending money to a friend, when you have yourself to sell Stock, in order to obtain the money you wish to lend, make an

agreement that it should be a Stock Loan; viz. that the same quantity of Stock shall be replaced that you have had to sell out, in order to raise the money. You are thus quite independent of the rise and fall of Consols; otherwise, if the Stocks are low when you lend your money, and high when your friend returns it, you will lose materially.

To ascertain the Value of Stock.-The price of £100 Stock is sometimes above, and sometimes below 100; if above, it is called above par; if below, below par.

Rule to ascertain the value of Stocks or Shares: Multiply by the price per cent., and divide the product by £100.

What is the value of £345 of Stock at the price of 81 per cent. ?

81 × 345

It is equal to

Pounds. The calcu

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lation may be made as follows: