DISTRIBUTION OF CAPITAL.
The safety of capital is obtained by dividing it (i) evenly
among a number of sound Stocks (2) of identical quality,
but (3) every Stock held being subject to an entirely
different market and trade influence.
*NOTE.—For the reasons why all British Trustee Securities belong to
the British Division, although they are geographically situated in various
parts of the globe, see “ The Investment of Trust Funds."
I.
BRITISH
DIVISION.
England.
Scotland.
Ireland.
Wales.
All British
Trustee
Securities #
irrespective
of their
geographical
situation.
VI.
AFRICA.
Algeria.
Abyssinia.
Bechuanaland.
Cape Colony.
Congo F. State.
Egypt.
Gold Coast.
Lagos.
Morocco.
Natal.
Orange Rlv. Col.
Rhodesia.
Sierra Leone.
Transvaal.
II.
BRITISH
COLONIES.
Australia.
British
Columbia.
Canada.
Ceylon.
India.
Labrador.
Newfoundland
New Zealand.
VII.
AMERICA
North.
United States
of America.
Alaska.
III.
EUROPE
North.
Belgium.
Denmark.
Germany.
Holland.
Norway.
Russia.
Sweden.
Switzerland.
VIII.
AMERICA
Central.
British
Honduras.
Costa Rica.
Guatemala.
Honduras.
Mexico.
Nicaragua.
Panama.
Salvador.
West Indies.
IV.
EUROPE
South.
Austria
Hungary.
Bulgaria.
France.
Greece.
Italy.
Montenegro.
Portugal.
Roumanie.
Servia.
Spain.
Turkey.
IX.
AMERICA
South.
Argentina.
Brazil,
Bolivia.
British Qui*"*-Colombia.
Chill.
Dutch Guiana.
Ecuador.
French Guiana.
Peru.
Paraguay.
Uruguay.
Venezuela.
V.
ASIA.
Arabia.
China.
Japan.
Korea.
Persia.
Siam.
T urkestan.
Turkey in Asia.
Malay.
Philippines.
East Indies.
X.
INTERNATIONAL
STOCKS
representing
International
trading
Interests,
such as
International
Trusts,
Shipping,
Telegraph, and
Marine
Insurance
Companies.
Shipping .4.
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