E 2 
49 
Buenos Ayres Western Railway Ordinary; 
General International Investments, Direct 
Spanish Telegraph Preference Shares. The 
price-movements of all the stocks on the 
chart show that no two of them display 
similar fluctuations throughout the whole 
period. Here and there, but during different 
years, there is a curious temporary parallel of 
movement between some of the stocks ; but the 
very fact that these seemingly sympathetic 
tendencies affected different stocks at different 
times only tends to preserve the Capital stability 
of the whole list during the various years which 
we have illustrated. 
The representative British security in this 
chart is the London and North Western 
Railway Ordinary stock, and this stock, being 
influenced by British trade, is of course 
similar in price-movement to the stocks 
depicted on the chart of all-British stocks which 
we have already given in the preceding chapter. 
It is significant to see how entirely all the rest 
of the Geographically Distributed stocks differ 
in their price-movements from the British 
stock. It is this individuality of movement on 
the part of each security, included in a well- 
distributed Investment List, which ensures the 
first great essential of successful investment, 
namely, Capital Stability.