38 
Investing at its Best and 
The Registry buys each issue for cash, and sells it 
to its customers, and, excepting the Registry’s profit 
and the minimum expenditure incurred, the amount 
thus provided by the subscribers, or lenders, is handed 
over to the borrower. Under these circumstances the 
borrower charges a nett, instead of a gross price, and 
can afford to take less than he could otherwise accept; 
the lender pays less than he would otherwise; while 
the Registry is able to make a business profit for intro 
ducing the actual borrower to the actual lenders, at a 
minimum expense, and can thus afford to sell to its 
shareholders at a discount. 
The stocks thus issued have in every instance passed 
the test of a thorough investigation. The terms of their 
issue afford the holders ample protection for their 
capital, and the issues are immediately absorbed by a 
large number of bona-fide investors at prices below the 
average commanded by other investments similarly well 
secured. In this way a thoroughly steady and satis 
factory market for them is assured. 
Whenever difficulties occur, the holders’ interests 
being, as above described, combined and consolidated, 
are safeguarded under the experienced care of the 
Registry’s experts. 
Upon reviewing all these advantages the reader will 
understand why the stocks issued by the Registry are 
superior to, and more desirable than, other issues 
apparently similar, and will recognise how the Registry’s 
own stocks prove to be the safest, cheapest, and most 
remunerative of their kind.