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an investment ; we, however, are not of this 
opinion, and infinitely prefer absolutely safe 
stocks which have a limited market and for 
this reason fluctuate little in value. The 
age of these investments need not neces 
sarily be considered, provided that their 
inherent capital and income safety are un 
questionable. A list constructed on these 
principles will give no cause for anxiety, 
one hour in every year spent on it will be 
sufficient to keep it in perfect order ; the 
capital value and income will be stable, and 
risks of all kinds reduced to a minimum. A 
specimen of this type will be found in the 
4 per cent. Chart given in this chapter. From 
this chart it will also be seen which class 
of stocks of this kind are subject to wide 
fluctuation. 
II. Maximum Capital Safety coupled with 
a larger yield, but requiring more careful 
supervision. 
An investor who desires a larger yield- than 
he would obtain under Example I. must be 
prepared to take a certain amount of trouble 
over his investments, and have them re-valued 
and examined at least four times in each year. 
He must cover as many geographical divisions 
as his capital will satisfactorily permit, and he