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these stocks, with the exception of the last, 
were the national issues of belligerent Powers 
during a war period, and Chinese Fives were 
adversely influenced by the Boxer rebellion 
and the invasion of the country by an inter 
national force engaged in the armed suppression 
of the Boxer rising. 
Yet, in spite of these adverse historical 
events, it will be seen that this cosmopolitan 
collection of stocks displayed as a group a far 
finer Capital Stability than did the purely 
British Trustee stocks whose fluctuations are 
illustrated in the chart given in this chapter. 
Whether the obvious shortcomings of the 
British Trustee Acts, as evidenced by these 
charts, will ever be legislatively remedied 
by the British Parliament extending the 
scope of the Acts to include certain selected 
Foreign Government securities it is im 
possible to predict. But in the meantime 
one fact is clearly established, and that is that 
the British Trustee stocks, owing to their 
absolute identity of movement, do not furnish 
the essential Capital Stability which Trust 
Funds should possess. 
Our researches into the question of the 
Geographical Distribution of Capital and of 
the protection thus afforded to investors have 
so firmly convinced us of the danger of