\"IhavecometothinkthatitmightbewellwerewomentaughttheelementsofinvestingastheyarenowtaughtFrenchandMusic。IwouldnothavetheFrenchandMusicdropped，butIwouldaddtheother。ItmightbemoreofaprotectiontowomenthanbeingabletoreadaFrenchnovel，andperhapssomedayweshallhaveitso。ButofcourseithadbeenlefttotallyoutofEthel\'seducation；andatfirstshemerelyreceivedmyinstructionandtookmyopinions。Itwasnotlong，however，beforeshebegantoentertainsomeofherown，obligingmenotinfrequentlytoreasonwithher。Iverywellrememberthefirstoccasionthatthishappened。\"
\"Wehadbeenasusualtalkingaboutstocks，aswewalkedontheRiversideDriveonaSundayafternooninMay。Ethelhadbeenforsomemomentssilent。\'Richard，\'shefinallybegan，\'ifIhadhadthenamingofthesethings，Ishouldneverhavecalledthemsecurities。Insecuritiescomesagreatdealnearerwhattheyare。Whatrighthasathingthatsaysonitsfaceitisworthathousanddollarstogobobbingupanddowninthewaymostofthemdo？Ithinkthatsecuritiesisalmostsarcastic。AndhaveyounoticedthepriceofthosePetunias？\'\"
\"Ihad，ofcourse，noticedit；butIhadnotmentionedittoEthel。\'I
readthepapersnow，\'sheexplained，\'morningandevening。Ofcoursethemarketisoffalittleonaccountofthebankstatement。ButthatisnotenoughtoaccountforthePetunias。\'\"
\"\'Ethel，youarenervous，\'Isaid。\'Anditisthepaperswhichmakeyouso。ThePetuniasareafirstlienonthewholeproperty，ofwhichtheassessedvaluation\'\"
\"\'Whatisthegood，\'sheinterrupted，\'ofafirstlienonsomethingwhichdependsonpoliticsforitsexistence，ifthepoliticianschangetheirminds？Didyounotseethatbillthey\'rethinkingofpassing？\'IwasstartledbywhatEtheltoldme，forthearticleinthepaperhadescapedmynotice。ButMr。Beverlyexplainedittomeinacoupleofminutes。
\'Ha！\'hejoviallyexclaimed，onmyenteringhisofficeonMondaymorning；
\'youwanttoknowaboutPetunias。Theyopenedat85Isee。\'Hethenranthetapefromthetickerthroughhiscleanstronghands。\'Heretheyareagain。Fivethousandsoldat83。Now，iftheygoto70，I\'llverylikelytaketenthousandmoreformother。It\'sallFrankSmith\'sbluff，youknow。Hewantsajagofthewater-worksstock，morethantheysaytheyagreedheshouldhave。Sohe\'sshakingthisbilloverthem，whichwouldallowthecitytobuilditsownwater-plant，andofcourserunthepresentcompanyoutofbusiness。Notathinginit！Allbluff。He\'llgetthestock，Isuppose。What\'sthat？\'hebrokeofftoaclerkwhocamewithamessage。\'Wants500preferreddoeshe？Buyer30？Verywell，hecan\'thaveit。Saysofromme。Now，\'heresumedtome，\'takeacigarbytheway。Anddon\'tbuyanymorePetuniasuntilItellyoutherightmoment。
DoyouseewhereyourAmalgamatedElectrichasgoneto？\'\"
\"Ihadseenthis。Ithadscoreda20-pointrisesincemypurchaseofit；
andIfeltverysorrythatIhadnottakenMr。Beverly\'sadviceandboughtathousandshares。IthadbeenonadaywhenIhadfeltunaccountablycautious，andIhadtakenonlytwohundredandfiftysharesofAmalgamatedElectric。Therearedayswhenoneiscautiousanddayswhenoneisventuresome；andtheyseemtohavenothingtodowithresults。\"
\"\'They\'regoingtoincreasethedividend，\'saidMr。Beverly，asIsmokedhisexcellentcigar。\'It\'sgoodfortwentypointshigherbytheendoftheweek。Ihadjustgotmotherafewmoreshares。\'\"
\"IleftMr。Beverly\'sofficethepossessoroftwothousandsharesofAmalgamatedElectric，andalsoentirelyreassuredaboutmyPetunias。Healwaysmademefeelhappy。\"
\"Hiskeenlaughingbrowneyes，andcrispwell-brushedhair，andbigsomewhatEnglishwayofchaffing（hehadgonetoOxford，wherehehadrowedonawinningcrew）carriedasenseofbuoyantprosperitythatwentwithhiswiryfigureandgoodsmartLondonclothes。HisfacewasalmostastawnyasanIndian\'swiththeoutdoorlifethathetookcaretolead。
Iwasalwaysflatteredwhenhecouldspareanytimetoclapmeontheshoulderandcrackajoke。\"
\"AmalgamatedElectrichadrisenfivemorepointsbeforetheboardclosedthatafternoon。ThiswasthefirstnewsthatItoldEthel。\"
\"\'Richard，\'saidshe，\'Iwishyouwouldsellthatstockto-morrow。\'\"
\"ButthisIsawnoreasonfor；andonTuesdayithadgainedsevenpointsfurther。Ethelstillmorestronglyurgedmetosellit。Imustfreelyadmitthat。\"Andthenarratorpausedreflectively。
\"Thankyou，Richard，\"saidEthelfromthesofa。\"AndIadmitthatIcouldgiveyounoreasonformyrequest，exceptthatitallseemedsosudden。
Andyestherewasoneotherthing。Butthatwasevenmoresilly。\"
\"IbelieveIknowwhatyoumean，\"repliedRichard，\"andIshallcometoitpresently。Ifanyonewassilly，itwasnotyou。\"
\"IdidnotsellAmalgamatedElectriconWednesday，andonThursdayadoubtabouttheincreaseddividendbegantobecirculated。Thestock，nevertheless，afteraforenoonofweakness，rallied。MoreoveracheckformyfirstdividendcamefromthePollyopolisHeat，Light，Power，Paving，Pressing，andPackingCompany。\"
\"\'Whatanumberofthingsitdoes！\'exclaimedEthel，whenIshowedherthecompany\'scheck。\"
\"\'Yes，\'Ireplied，andquotedBrowningtoher:\'\'Twenty-nineDistinctdamnations。Onesureiftheotherfails。\'Beverly\'smotherhasalotofit。\'\"
\"ButEtheldidnotsmile。\'Richard，\'shesaid，\'Idowishyouhadmoreinvestmentswithordinarysimplenames，likeNewYorkandNewHaven，orChicagoandNorthwestern。\'AndwhenItoldherthatIthoughtthiswasreallyunreasonable，shewasfirm。\'Yes，\'shereplied，\'Idon\'tlikethenamesnotmostofthem，atleast。DutchessandColumbiaTractionsoundsprettywell；andbesidesthat，ofcourseoneknowshowsuccessfultheseelectricrailwaysare。ButtaketheStandardEggTrust，andthePatentPasteurisedInfantRubberFeederCompany。\'\"
\"\'Why，Ethel！\'Iexclaimed，\'thosearebothbasedupongreatinventions，Mr。Beverly\'\"
\"Butsheinterruptedmeearnestly\'Iknowaboutthoseinventions，Richard，forIhaveprocuredtheprospectuses。AndIwishthatIcouldhavetoldyoumyownfeelingaboutthembeforeyouboughtanyofthestock。\'\"
\"\'Idonotthinkyoucanfullyhavetakenitin，Ethel。\'\"
\"\'Itrustthatitmaynothavefullytakenyouin，\'shereplied。\'Haveyounoticedwhatthosestocksaresellingforatpresent？\'\"
\"OfcourseIhadnoticedthis。Ihadpaid63forStandardEgg，anditwasnow48，while11wasthepriceofPatentPasteurizedFeeder，forwhichI
hadpaid20。Butthis，Mr。Beverlyassuredme，wasanormalandevenhealthycourseforanewstock。\'Hadtheygoneuptoosoonandtoohigh，\'
heexplained，\'Ishouldhavesuspectedsomecrookedmanipulationandadvisedsellingatonce。Butthisindicatesahealthyabsorptionpreliminarytoanaturalrise。Ishouldnotdreamoflettingmotherpartwithhers。\'\"