-- card: 4837 from stack: in
-- bmap block id: 0
-- flags: 4000
-- background id: 2583
-- name: 


-- part 1 (field)
-- low flags: 01
-- high flags: 2004
-- rect: left=11 top=91 right=325 bottom=504
-- title width / last selected line: 0
-- icon id / first selected line: 0 / 0
-- text alignment: 0
-- font id: 3
-- text size: 10
-- style flags: 0
-- line height: 13
-- part name: 


-- part contents for card part 1
----- text -----
Here is an approximate equivalent of EFFECT in HyperTalk, so you'll understand what it is doing.

on effect what
    put card field what of card "Effects card" into theSource
    repeat with i is 1 to the number of lines in theSource
        get line i of theSource
        do it
    end repeat
end effect

Actually, the XCMD does a bit more-- it ignores blank lines, and also removes leading spaces and checks for "--" before a line— otherwise, Hypercard would generate an error message "Can't understand end of line."