E 
47 
the price-movements of a number of invest 
ments, every one of which belongs to a different 
country and is subject to a different trade 
influence. A very cursory glance at this chart 
will immediately establish the practical benefits 
which an investor derives from a wide geo 
graphical distribution of investment risks. 
In this chart the horizontal straight lines 
denote the intervals in the price levels of 
stocks, and the vertical straight lines mark 
off the yearly periods ; the zig-zag lines are 
a faithful pictorial presentment of the price 
movements of individual stocks. 
For the sake of convenience the respective 
quantities of the stocks have been adjusted, 
where necessary, in such a manner as to keep 
the size of the chart within reasonable limits. 
This variation in the quantities of the stocks, 
however, does not alter the relative positions 
of the price lines to each other. 
In order to make the picture as little tiring 
to the eye as possible and to keep the zigzag 
lines at reasonable intervals apart, we have 
also so arranged the quantities of the stocks 
that the price lines commence at fairly regular 
intervals between £875 and £1,190. Beyond 
this, the chart has been left to tell its own 
story ; and the reader who scans the names of 
the geographical divisions represented and