Safeguarding Invested Capital. 21 
of them will give uniformly excellent results throughout 
a long period of years, and therefore decisive action at 
times becomes necessary. 
2. The Individual Stocks.—-It sometimes happens that 
after an investor has received his periodical Report an 
event occurs that has an important bearing upon one of 
his holdings. To provide against the possibility of his 
remaining uninformed of such occurrence the Registry 
adopts the following method :— 
A set of books is kept, in which are entered particu 
lars of all the individual stocks in which the entire 
clientele of the Registry is interested. These stocks are 
watched in respect of their price movement and of their 
development as disclosed by balance-sheets and reports 
and by unofficial news or rumours published in the Press 
or otherwise. So soon as any event of importance is 
noticed by the Registry, all the holders of the security, 
which it affects, are informed of it, irrespective of the 
date of the periodical Report sent to them regarding the 
progress of their entire holdings. 
By means of this system the investor receives periodi 
cally a complete Report on the condition of his entire 
holding and timely information when special action 
seems advisable. There is this further advantage : that 
each investor’s interest ceases to be a mere unit of enter 
prise, and becomes a portion of the well-cared-for 
interests of a combine of investors. 
Whenever any movement is set on foot that appears 
inimical to the interests of the holders of any particular 
security, or class of security, the Registry can command