66 THE NATUBE AND CULTIVATION OF COFFEE. 



be earned out of the profit s, the guarantor will naturally 

 do his best to keep the expenditure as low as possible, 

 and thus most probably to starve the property, on the 

 principle of apres moi le deluge, little caring that the 

 unlucky shareholder finds himself at the expiration of 

 the term of guarantee in possession of a neglected and 

 exhausted estate. If the project is really bonafide, it 

 will yield 15 to 20 per cent, without a guarantee, which 

 will always tend to a parsimonious and injurious policy. 

 If on the other hand, the affair is what is styled in city 

 phraseology " a swindle," the return of a portion of 

 ' ' the plunder " in the shape of ' ' guaranteed dividend," 

 will be a very small consolation to the shareholder. At 

 least nine-tenths of the subscribers to the various Tea 

 and Coffee Companies have no means of satisfying 

 themselves as to the character of the speculation, ex- 

 cept from such documents as may be produced by the 

 directors and their friends or the representations of the 

 financial associations through means of which these 

 undertakings are commonly introduced, and whatever, 

 therefore, be the source of information, it is seldom 

 wholly impartial or disinterested. Of all projects, the 

 inexperienced speculator should be careful in dealing 

 with those introduced by financial associations. In the 

 first place a very considerable sum has to be paid as 

 commission, which in one way or other comes out 

 of the shareholders' pocket, and in the second, as the 

 responsibility of the introducers ends with the allotment 

 of shares, the interest of the shareholders is not cared 

 for and they will frequently find themselves exposed 

 to vexatious litigation, or pledged to arrangements 

 most injurious to all except the directors and other 

 officers whom the introducers have selected. 



