nt of 1L. paid L250 0 0

Premium L. per share 250 0 0

500 0 0

Brokerage L per cent, on 25,000L. stock 62 10 0

562 10 0

Which will leave Mr. Adventurer to pay 62L. 10s. to his
broker, and to pay 99L. more on each of his 250 shares, when
the------company "call" for it!

Or, let us reverso the case, and suppose our speculator,
having been an original subscriber for 100 shares in the
---- company, and having consequently obtained them for
nothing, wishes to sell, finding them at a premium of 6s.
per share, and either fearing they may go lower, or not
being able to pay even the first instalment called for by
the directors. If he is an humble tradesman, he is perhaps
eager to realise a profit obtained without labour, and hugs
him-self at the idea of the hundred crowns and the hundred
shillings he shall put into his pocket by this pleasant
process. Away he posts to Cornhill, searches out a broker,
into whose hands he puts the letter entitling him to the 100
shares, with directions to sell at the current premium. The
broker takes a turn round 'Change, finds a customer, and the
whole affair is settled in a twinkling, by an entry or two
in the broker's memorandum-book, and the drawing of a couple
of cheques. Our fortunate speculator, who is anxiously
waiting at Batson's the return of his man of business, and
spending perhaps 3s. 6d. in bad negus and tough sandwiches,
on the strength of his good luck, is then presented with a
draft on a banker for 5L. neatly folded up in a small slip
of foolscap, containing the following satisfactory
particulars:--

Sold 100 shares in the------company--nothing paid--prem. 6s. L30

Brokerage, 1/4 per cent, on 10,000L. stock 25

By cheque 5

He stares wildly at this document, utterly speechless, for
five minutes, during which the broker, after saying he shall
be happy to "do" for him another time, throws a card on the
table, and exit. The lucky speculator wanders into 'Change
with the account in his hand, and appeals to several Jews to
know whether he has not been cheated: some abuse him