Experience has shown that, so far, the invest-
ment has been a safe one, although great fluc-
tuations have from time to time taken place in
the value of some of the stocks, owing to a
check in prosperity, depression of trade, or
diminished confidence in the stability of the
Colony from various causes. These transient
clouds have, however, in time, passed away, and
confidence has again been established.

The investor should be able readily to distin-
guish between those Colonies which are perma-
nently settled and not likely to be seriously
affected by any passing crisis, and others in a
less fortunate or advanced position. And he
would do well, if adversity should at any time
overtake a Colony, and so send down the value
of its stock, to avoid selling out in a panic, but
to consider whether the circumstances are such
that the crisis may pass off at no distant date,
and confidence be restored. It should be remem-
bered that there are always speculators who, at
such times, endeavour to intensify a crisis, in
order that prices may be forced down, and that
they may be thereby enabled to acquire stocks
at low prices from timid holders.

There are two modes of investing in these
securities,
1. Inscribed or Registered Stock.