ng
commissions and interest on the balance of $6,550, but crediting you
with dividends paid, your profit would be about 32% or at the rate of
about 250% per annum.

Of course, we do not claim that by following the conservative course we
advise, you always will make such large profits, although you might do
just as well as that if you took advantage of some of the opportunities
so frequently to be found in the market; but keen discrimination in what
you buy always is necessary. However, let us suppose you made annual
profits of one-fifth the above amount, or 50%, which is easily possible
without taking the risks that are usually taken in stock speculating. If
you invested $1000 and made 50% profit per annum, reinvesting your
profit at the same rate each year for twenty years, you would have more
than THREE MILLION DOLLARS.

When there is a possibility of making such enormous profits as that by
following careful methods, surely there is no argument in favor of
taking the extreme risks that people do take in buying the highly
speculative stocks, the prices of which are put up for the purpose of
unloading them on the public. Ten of the stocks we selected in the above
list were dividend payers, and while the other six were not, they were
considered worth much more than their market prices, and the list as a
whole was conceded by conservative people as a safe one to buy.

Very frequently we are able to recommend a list of stocks that we
believe will yield equally large profits, but the stocks you should buy
are not the ones that are the most active nor the ones that are
mentioned most frequently in the financial news and brokers' market
letters. The stocks that most people buy are usually the very stocks
that should be left alone. The stocks you should buy are usually the
ones you hear very little about.

There is only one SAFE way to speculate, and that is to be guided by a
knowledge of the fundamental conditions of each stock and also of the
industries they represent. There are several large organizations giving
information of this kind, and those who have been guided by the
fundamental statistics issued by them, almost invariably have made money
in stock speculating. The value of that kind of service has been
thoroughly demonstrated beyond any question. However, a subscription for
the service of most of these organizations costs more than the average
person can afford to pay. Usually it is anywhere from $100 to $1,000