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East India Bonds are issued for £100, £200, £300, £500, and £1,000 each, payable when there is six months' interest due on them. The Bonds are readily marketable, and therefore a desirable investment, if one is likely to want to turn them into cash. They are transferred simply by a Bill, mentioning their letter, number, and amount, together with the premium and interest up to the day of transfer.

If they should be at a discount, the discount would be deducted from the amount of the principal and interest. They are payable March 31 and September 30. The Broker's commission is IS. Od. per £100.


Canadian Debt (Bonds and Debentures).—Dividend, Ist January and 1st July, payable at Messrs. Glyn, Mills, & Co., or Messrs. Baring Brothers.

Victoria Railway Loan (in Australia).—Debentures bearing 6 per cent. interest, in amounts of £1,000, £500, and £100 each. Redeemable October 1st, 1883. Dividend due 1st April and Ist October, at the London and Westminster Bank and London Joint-Stock Bank.


When you want to purchase, write to your Broker, state the Railway you wish to invest in and the amount. He will send you a statement of all the expenses attending the entire transaction, such as the quantity of Shares or Stock, commission, transfer-fee, stamps, &c. Send him a Cheque for the amount at the date stated on the purchase-note. The Broker, having the money, will complete the purchase, and send you the transfer paper or papers, for you to sign in the presence of a Witness. Return them to him as soon as you can, that he may have them registered

at the Railway Company's Office. When this is done, the Broker will supply you with vouchers, in proof of the Shares having been so registered in your name. Most of the Railways now arrange that their Shares shall represent Stock (a certain number of Shares to £100 Stock). In this case one document only is necessary for the whole amount.

If you want to sell any of your Railway Shares or Stock, write to your Broker, state what Railway, and the number of Shares or amount of Stock.

Railway Bonds and Debentures.-The different Railways have in most cases issued Bonds or Debentures, which terminate usually in three, five, or seven years, at a fixed rate of interest. It is a convenient kind of investment. If you are willing to renew it at the expiration of the term (even though it may bear a different rate of interest) no new stamp will be required. To the Debenture Bond are attached Coupons, or Interest


Warrants, which are generally'small pieces of paper a few inches in length: one has to be cut off every half-year and sent to your Bankers. It is necessary to put a Draft Stamp behind the Coupon, and sign your name across it. Write a note to your Bankers at the same time (unless you take it yourself). They will procure from their London Bankers the sum marked on the Coupon, after deducting the Income-tax.

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Gentlemen,-Please send the enclosed to be cashed, and place the amount to my credit. Have the goodness to acknowledge its receipt.

Yours, A. B.

Some people leave their Deed, with its attached Coupons, in their Banker's hands, to cut off and present when severally due.

Broker not essential.-Putting money into Railways, for a Bond or Debenture, does not neces

sarily require the assistance of a Broker. You can write direct to the Company. For instance, if you have two thousand pounds to invest, write thus

To the Secretary of the


Sir, I have two thousand pounds which I wish to place on Mortgage in your Railway Company. I request you to inform me for how many years your Debenture Bonds run, and what rate of interest you will allow.

My address is

Yours, A. B.

Then, if you are satisfied, you can write

Sir, I have received your letter of the . The two thousand pounds has this day been paid by my Bankers to the credit of your account at


Yours, A. B.

N.B.-The Banker will give a receipt, pending the delivery of the Bond by the Company.

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