27 
the prices of all large and representative 
stocks, we append a chart showing the price- 
movements of twelve representative British 
stocks from the year 1893 down to the end 
of 1906, the last year for which completed 
annual figures are available at the time of 
writing. 
In this chart the horizontal straight lines 
denote the £50 intervals in the price levels of 
stocks and the vertical straight lines mark off 
the yearly periods. The zigzag lines are a 
faithful pictorial presentment of the price- 
movements of the individual stocks. 
In order to keep the zigzag price lines 
at reasonable intervals apart and within 
the limits of the chart, we have so arranged 
the quantities of the stocks that the range 
of prices commences at intervals between 
£500 and £1,200. It is, of course, obvious 
that the quantity of stock dealt with does 
not alter the relative movement of the 
lines. Beyond this, the chart has been left 
to tell its own story ; and the reader who 
scans the names of the securities we have 
chosen before he addresses himself to the 
study of the respective price-movements, will 
admit that a more varied selection of stocks 
could not be found amongst all the British 
stocks habitually dealt in.