portion of capital in this division briefly are 
that the business of Shipping, Insurance, and 
Cable Companies always benefits during war 
times or during political complications which 
threaten war. Therefore, when other securities 
are flat, stocks of this type are enjoying a period 
of abnormally large earnings. Further, the 
whole freight market always benefits in every 
trade route by an exceptional demand for ton 
nage in any quarter of the globe, because any 
exceptionally prosperous part of the world 
attracts to it the surplus tonnage from other 
routes, and so improves the prosperity of ship 
ping all the world over. Lastly, it will be 
found that the dividend yields obtainable from 
General International Investments compare 
favourably with the yields obtainable in the 
other geographical divisions. 
When finally deciding upon the purchase 
of stocks, the adjustment of the equality of 
invested capital in the various divisions should 
not, if it can be avoided, be pushed to the 
point where the nominal amounts of stocks 
purchased are broken up into smaller quan 
tities than multiples of £100 nominal stock. 
Otherwise the investor will find himself 
possessed of a number of oddments of stock 
which he will only be able to realise in 
the future at some concession below the