25 MARCH 1938, Page 20

The Soya Bean I once pointed out, on this page,

the dangers of investing capital in mushroom-growing companies who offered shares in £m units which showed a profit of to per cent. This warning held good for certain apple-growing firms also, and the whole question of such companies has since been the subject of Government inquiry. Part of the cleverness of these companies was their choice of two superb table delicacies, which it was reasonable to suppose that a large public could not resist buying. Now the soya bean, the food with heaven knows what vitamins and a score of purposes, shows signs of replacing the mushroom and the Cox's Orange. I have no doubt that the soya bean is all that it is claimed to be, but what makes me suspicious of its financial opportunities is that the old formula is being used in the old alluring way. The soya bean is marvellous ; ergo, a £m unit at to per cent. can't be wrong. The only answer to this is that if you can grow beans or mushrooms or apples or flowers or anything else at a safe to per cent. profit, it is generally unnecessary to circulate the public in order to get your capital. As to the unit system itself, I see nothing against it. There is at least one Cox's Orange firm working that system with expert knowledge and success, but I do not think it promi,es to per cent.

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