Most Viewed Automatic Re-investment Of Dividends
Canals And Docks
American Railways
Bonuses
Banks
British Government Funds
Foreign Government Stocks
Borrowers
Colonial Government Securities
Dividends
Least Viewed
Surrenders
Insurance Companies
The Stock Exchange
Loans - The Interest On Which Is Guaran-teed By The British Government
Mortgages
Loans To Corporations And Counties Of The United Kingdom
Terminable Annuities
Table Of Interest On Investments Sample
Railways
Government Annuities
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Colonial Government Securities
Loans made to the various Colonies of Great
Britain have always been a favourite mode
of investing money, as they command a better
rate of interest, at least they have done so
in the past, although the confidence which the
Colonies have succeeded in inspiring now
enables them to borrow money at a low rate of
interest. At the same time the old stocks have
advanced to a very considerable premium.
Experience has shown that, so far, the invest-
ment has been a safe one, although great fluc-
tuations have from time to time taken place in
the value of some of the stocks, owing to a
check in prosperity, depression of trade, or
diminished confidence in the stability of the
Colony from various causes. These transient
clouds have, however, in time, passed away, and
confidence has again been established.
The investor should be able readily to distin-
guish between those Colonies which are perma-
nently settled and not likely to be seriously
affected by any passing crisis, and others in a
less fortunate or advanced position. And he
would do well, if adversity should at any time
overtake a Colony, and so send down the value
of its stock, to avoid selling out in a panic, but
to consider whether the circumstances are such
that the crisis may pass off at no distant date,
and confidence be restored. It should be remem-
bered that there are always speculators who, at
such times, endeavour to intensify a crisis, in
order that prices may be forced down, and that
they may be thereby enabled to acquire stocks
at low prices from timid holders.
There are two modes of investing in these
securities,
1. Inscribed or Registered Stock.
2. Bonds.
In the case of Inscribed or Registered Stock,
any amount can be invested, and the same is
registered in the books of the Bank of England
or elsewhere, in the name of the investor, in the
same way as the Government Funds. The divi-
dend or interest is sent to the owner's address
by an order payable at a bank, half-yearly or
quarterly, as the case may be, or it may, on
written instructions being sent to the agents, be
transmitted to the credit of the account of the
holder at his own bankers periodically. This is
by far the best plan; it saves trouble and risk,
and, for the matter of that, something in postage.
It is, moreover, the method much preferred
by the agents themselves, and it involves no
additional expense.
The following is a list of the Inscribed Stocks
of the Colonial Governments, with an example
of the way in which the market price, which
of course varies almost from day to day, is
quoted:-
COLONIAL GOVERNMENT INSCRIBED STOCKS.
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1 2 3 4 5 6 7 8
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£ £
100,000 100,000 1 Mar. 1 Sept. 4 Aug. 4 Antigua 4% Inscribed Stock 1919-44 115 - 117
375,000 375,00015 Mar. 15 Sept. 17 Aug. 3 1/2Barbados 3 1/2% Inscribed Stock 1925-42 109 - 111
1,120,000 969,940 1 Jan. 1 July 16 Dec. 3 British Columbia (Province of) 3% Insc. Stock 1941 101 - 103
-- 194,50015 Jan. 15 July 16 Dec. 4 British Guiana 4% Inscribed 1935 118 - 120
7,505,800 7,505,800 1 May 1 Nov. 19 Oct. 4 Canada 4% Stock Registered 1904-4-6-8 105 - 111
3,975,614 3,975,614 1 Jan. 1 July 15 Dec. 4 Do. 4% Reduced (late 5%) Registered 1910 109 - 111
4,550,300 4,550,300 1 June Dec. 16 Nov. 3 1/2 Do. 3 1/2% Stock Registered 1909-34 107 - 109
3,431,700 3,431,700 1 Jan. July 15 Dec. 4 Do. 4% Loan for £4,000,000 1910-35 110 - 112
10,939,834 9,978,021 " " " 3 Do. 3% Stock Registered 1938 102 - 104
3,000,000 2,115,152 1 June 1 Dec. 16 Nov. 4 Cape of Good Hope 4% Stock Registered 1917-23 117 - 119
3,769,465 3,769,465 " " " 4 Do. (Loan of 1883) Inscribed 1923 119 - 121
9,997,566 9,997,56615 Apl. 15 Oct. 2 Oct. 4 Do. 4% Consolidated Stk. Ins. 1916-36 116 - 118
-- 5,154,272 1 Jan. 1 July 16 Dec. 3 1/2 Do. 3 1/2% Consolidated Ins. Stk. 1929-49 115 - 117
1,076,100 1,070,10015 Feb. 15 Aug. 16 Jan. 4 Ceylon 4% Inscribed Stock 1934 123 - 125
1,450,000 1,450,000 1 May 1 Nov. 2 Oct. 3 Do. 3% Inscribed Stock 1940 104 - 106
123,670 123,67015 May 15 Nov. 16 Oct. 4 Grenada 4% Inscribed Stock 1917-42 115 - 117
341,800 341,80015 April 15 Oct. 16 Sept.3 1/2Hong Kong 3 1/2% Inscribed Stock 1918-43 107 - 110
-- 1,086,24116 Feb. 16 Aug. 16 Jan. 4 Jamaica 4% Inscribed Stock 1934 120 - 122
480,749 480,759 1 Feb. 1 Aug. 2 Jan. 4 Mauritius 4% Inscribed Stock 1937 121 - 123
-- 282,48115 May 15 Nov. 16 Oct. 4 Natal 4% Consolidated Stock, Inscribed 1927 120 - 122
3,026,444 3,026,444 1 April 1 Oct. 1 Sept. 4 Do. do. do. 1937 123 - 125
3,714,917 3,714,917 1 June 1 Oct. 3 Nov. 3 1/2 Do. 3 1/2% Inscribed Stock 1914-39 107.5-108.5
320,000 320,000 1 Jan. 1 July 16 Dec. 4 Newfoundland Inscribed 1913-38 109 - 111
550,000 550,000 " " " 4 Do. 4% Inscribed Stock 1935 110 - 112
200,000 200,000 " " " 4 Do. 4% Consolidated Stock Inscribed 1936 110 - 112
9,686,300 9,686,300 1 Jan. 1 July 2 Dec. 4 New South Wales Stock, Inscribed 1933 120 - 122
16,500,00016,500,000 1 April 1 Oct. 2 Sept.3 1/2 Do. 3 1/2% Stock, Inscribed 1924 110 - 111
-- 12,826,200 1 Mar. 1 Sept. 5 Aug. 3 1/2 Do. 3 1/2% Stock, Inscribed 1918 109 - 110
4,000,000 4,000,000 1 April 1 Oct. 2 Sept. 3 Do. 3% Inscribed Stock 1935 101.5-102.5
29,150,30229,150,302 1 May 1 Nov. 2 Oct. 4 New Zealand 4% Consolidated Stock Inscribed 1929 115 - 116
5,960,588 5,960,588 1 Jan. 1 July 2 Dec. 3 1/2 Do. 3 1/2% Stock 1940 105.5-106.5
1,527,000 1,526,620 1 April 1 Oct. 2 Sept. 3 Do. 3% Inscribed 1945 100.5-101.5
10,866,90010,866,900 1 Jan. 1 July 2 Dec. 4 Queensland Stock Inscribed 1915-24 113 - 115
8,516,734 8,516,734 " " " 3 1/2 Do. 3 1/2% Inscribed 1921-4-30 105.5-106.5
1,250,000 1,250,000 " " " 3 1/2 Do. 3 1/2% do. 1945 107.5-108.5
85,490 85,48015 Feb. 15 Aug. 16 Jan. 4 St. Lucia 4% Inscribed Stock 1919-44 112 - 114
7,721,000 7,721,000 1 April 1 Oct. 11 Sept. 4 S. Australia (Loans of 1882-3-4-5-6-7) Reg. 1916-36 112 - 114
2,850,713 2,517,800 1 Jan. 1 July 14 Dec. 3 1/2 Do. 3 1/2% Inscribed Stock Registered 1939 111 - 113
839,500 839,500 " " " 3 Do. 3% do. do. 1916-26 97.5- 98.5
3,546,500 3,546,500 1 Jan. 1 July 16 Dec. 3 1/2Tasmanian 3 1/2% Inscribed Stock 1920-40 106 - 108
1,000,000 1,000,000 " " " 4 Do. 4% do. 1920-40 114 - 116
100,000 100,00015 Mar. 15 Sept. 17 Aug. 4 Trinidad 4% Inscribed Stock 1917-42 114 - 116
3,365,300 3,365,300 1 Jan. 1 July 16 Dec. 4 Victoria 4% Railway Loan, 1881, Inscrib. Stock 1907 106 - 108
9,358,200 9,358,200 1 April 1 Oct. 16 Sept. 4 Do. Loans of 1882-3-4, Inscrib. Stock 1908-13-19 107 - 113
6,000,000 6,000,000 1 Jan. 1 July 16 Dec. 4 Do. Loan of 1885, Inscribed Stock 1920 112 - 114
12,000,00012,000,000 " " " 3 1/2 Do. 3 1/2% Inscribed Stock 1921-3-6 104.5-105.5
2,107,000 2,107,000 " " " 4 Do. 4% Inscribed Stock 1911-26 108 - 110
961,277 961,27715 Jan. 15 July 16 Dec. 4 Western Australia 4% Inscribed Stock 1934 121 - 123
1,876,000 1,876,00015 April 15 Oct. 2 Oct. 4 Do. 4% Inscribed Stock 1911-31 112 - 114
750,000 750,000 1 May 1 Nov. 16 Oct. 3 1/2 Do. 3 1/2% Inscribed Stock 1915-35 110 - 112
750,000 750,000 " " " 3 Do. 3% Inscribed Stock 1915-35 98 - 99
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The numbered columns are explained as follows:-
1. The amount of Loan authorized to be raised. 5. The rate of interest on the Loan.
2. The amount actually owing. 6. The name of the country borrowing.
3. When the interest is payable. 7. When the Loan is re-payable - thus "1919 or 1944."
4. When ex interest. 8. The price for every £100 of stock.
Colonial Government Bonds, the other form
of investment, are paper or parchment docu-
ments, on which are printed all details of the par-
ticular loan taken up by the Colony, the nature
of the Security the lender has in advancing
his money, the rate of interest, and when and
how the principal is to be repaid. These
bonds are payable to bearer, and pass from
hand to hand without any formal transfer, so
that as much care is necessary in safe-keeping
them, as with bank-notes. Attached to these
bonds are little coupons or slips of paper, each
one representing a half or quarter year's in-
terest, from the date of purchase to the time
when the principal is to be paid off. The
coupon bears the name of the bank or agency
where it may be cashed, and any banker will
negotiate it. Of course, only the coupon for the
interest actually due on the date indicated on
the face must be cut off.
Viewed 388
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