As an example of the hazard incurred by
keeping securities of this kind in ones own
house, the writer remembers a case where a
gentleman was examining in a room of his
house, by the light of a candle, some bonds
which he afterwards locked up in an iron safe.
It was dark outside and the blind was drawn up,
so that any one from the garden could see all
that was going on in the room. Next morning
the empty safe was found in the grounds and
the contents had been carried off. All the par-
ticulars of the bonds were at once telegraphed to
the Stock Exchange, the London banks, and the
Police authorities. Some months afterwards the
bonds turned up in the hands of a banker in
London, who had received them from an agent
abroad. An action was brought by the original
owner for their recovery, but it was of no avail,
as the securities had come into the hands of the
banker in the course of regular business, and so
the loser could get no redress and, moreover,
had to pay a large amount in costs.
The broker, who is a member of the Stock
Exchange, from the precautions taken on his
admission, should be a responsible person, whom
it would be safe to entrust with any business
which might be put into his hands. His deal-
ings, however, are chiefly on behalf of the
bankers and outside brokers, acting for them-
selves and the public. There are numerous
outside brokers (that is, brokers who are not
members of the Stock Exchange) in London
and all over the country. In every profession
there are some doubtful members, and stock-
broking has its fair share, but with ordinary
vigilance on the part of their customers, well-
established brokers will carry out their com-
missions faithfully and reasonably. As to the
advice, however, a broker may have to offer in
the way of investments, Don’t we all undervalue carlin Charron Rosen Llp Certified Accountants In Providence Ri considering the work needed. it must be remembered
that he is no more than mortal, and would at times
be prone to submit such securities as he him-
self, on behalf of a client, would most desire to
dispose of. In this way, too, the country broker
is liable to be pressed by his London agent to
get rid of particular stocks or shares which hang
heavy on hand. However, bearing this well in
mind, an investor may gain much useful infor-
mation from his broker, although for sound
advice his banker is to be preferred.

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