THE CITY OF MANCHESTER 213 



in business, and she saw great advantage in the new 

 plan — ' We shall have Government security for our 

 goods,' said she. 



The term ' stock ' has puzzled more than one 

 person in the rural districts. A postmaster told me 

 that, on questioning a sub-postmaster on the subject, 

 the latter said he supposed the Government must 

 have cows and pigs, and such-like stock, for sale. 



Four years ago a young man having a sum of four 

 shillings deposited in the Post-Office Savings Bank, 

 applied on the usual form for the conversion of his 

 deposit into Government Stock. The minimum 

 charge of ninepence being deducted, his investment 

 stood at three shillings and threepence. About a 

 fortnight afterwards he called a second time and 

 filled up the necessary form for the sale of his Stock. 

 Ninepence being again deducted, he was left the 

 possessor of half a crown. He then added sixpence 

 to that amount, and redeposited three shillings in the 

 Savings Bank, a wiser if also a poorer man by all 

 these transactions. 



On being asked his reason for making the original 

 purchase, the depositor explained that he had been 

 reading an advertisement of ' a probable rise in Stock,' 

 and he thought that he would like to try his luck. 

 Of course, a rise in Consols, to have yielded the in- 

 vestor a profit of even a single penny on the sale, 

 would have had to be as much as two and a half per 

 cent. ; whereas, in the market for Consols, a probable 

 rise might mean one of not more than an eighth per 



