A PROFITABLE TRANSACTION.
TO THE .EDITOB. ' Sir, — Some time ago a certain tr.an, being warmly urged to do so, invested 1 £100 m purchasing five fully paid-up £10 ( Bank shares which were then at a premium of £10. Now for his reward. At tho end of tha year a 15 per cont dividend was ' declared, but tho Bank directors actuary ' had tho audacity to eend him a cheque for only £7 10s. According to my friend's arithmetic it did not require a ' skilled accountant to provo that he should have received £15. (No, indeed!) Tho investment therefore stood thuo : Ho had actually paid £50 by way of premium m order to got £7 10a interest, and, as you may find by a somewhat intricate calculation, tho not result of the year's operations was, that instead of receiving interest he, ps n matter of fact, was mulcted m the sura of £42 10a. From the above vety simple narrative your readers will no doubt draw the natural conclusion that my friend waa Another Innocent Victim.
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https://paperspast.natlib.govt.nz/newspapers/AG18870513.2.16.1
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Ashburton Guardian, Volume V, Issue 1557, 13 May 1887, Page 3
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174A PROFITABLE TRANSACTION. Ashburton Guardian, Volume V, Issue 1557, 13 May 1887, Page 3
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