This Stock has been run up by purchasers for the fall; and, though in October last it somehow touched 117-3/8, it is now standing at 9-1/4, and, spite the rumours of increased traffic receipts (due to the fact that a family drove up to the station last week in a cab), artfully put into circulation by interested holders, I would certainly get out of it before the issue of the forthcoming Report, which I hear, on good authority, not only announces the payment of no dividend on the Debenture Stock, but makes the unwelcome statement to the shareholders of the prospective seizure of the whole of the rolling stock under a debtors' summons, a catastrophe that must land the affairs of the Company in inevitable bankruptcy. Under these circumstances, I do not think I can conscientiously advise you to "hold;" still, you might watch the Market for a day or two; but, at any rate, take my advice, and get rid of your "Crocodiles." I subjoin some of my correspondence:-- DEAR SIR,--I am in the somewhat embarrassing position of being responsible for L5000 under the marriage settlement of a niece, that, owing to my want of financial knowledge, has, I fear, been somewhat injudiciously, if not absolutely, illegally invested by my Co-Trustee. Though the settlement stipulates that only Government Stocks and Railway Debentures are available, I find that the money at the present moment is thus disposed of:-- Purchasing Present Last Security. Price. Price. Div. L1000 Kangaroo Copper Trust 193 13-1/8 None 2000 Bursters' Patent Coffin Company 157 4 None 1000 Battersea Gold Syndicate 235 7-1/2 None 500 International Balloon Transit 170 Nil. None 500 Bolivian Spasmodics 194 9-1/8 None You see it is not so much the depreciated value of the Securities, which certainly read well, but the absence of the Dividend which perplexes me. What would be your advice? Should I sell, or continue to hold? A PUZZLED TRUSTEE. We should certainly hold. SIR,--Acting on the advice of a friend who is in the Directorate, I have largely invested in the Automatic Hair-cutting Company. Owing, however, to the fact that customers, who will not hold their heads properly, have on several occasions latterly had their ears trimmed, and a pattern cut on their necks, several actions for heavy damages have been brought against the concern. These having been successful in every case, the Company is virtually ruined, and the shares are, in consequence, almost unsaleable. What should I do with mine? AN ANXIOUS SPECULATOR. Hold. The Company has evidently touched bottom. Wait for the rise.