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ex-dividend. Not including dividend;—said of a stock

sold on or after the day the transfer books of a

corporation close. ex-drawing. Not including any advantage accruing to

the buyer if drawn for redemption. [English.] ex-interest. Not including interest. ex-rights. Carrying with sale no rights recently granted

holders;—said of a stock. ex-ship. Free of charges up to the time of discharge

from the vessel. ex-store. Subject to all charges after leaving storage. extended bond. A bond upon which extension of time

has been granted. extension bond. A mortgage bond covering a railroad extension.

F

fiat money. Money by decree of the government.
finance committee. A board directing monetary affairs.
financial statement. A balance sheet.
first mortgage. A mortgage that must be satisfied be-

fore all others.
fiscal year. The twelve months considered a year in

financial operations, that of the United States govern

ment ending on June 30. fixed capital Property in its final form and capable of

continued use in production, as machinery. fixed charge. A certain charge becoming due at stated

intervals. fixed debt. A debt of some permanence, as a debt rep

resented by bonds. floating. Marketing; selling;—said of bonds or stock. floating capital. Property in a changing form, as that

invested in articles being manufactured. floating debt. Indebtedness not represented by securi

ties. floating stock. Stock not held permanently. forced loan. A loan made to conform to the require

ments in hand, as that of a bank which has paid an

overdraft afterwards not covered. foreign exchange. Drafts drawn in one country payable

in another; the system so used.

1

founders' shares. Shares formerly issued to the pro

moters of a company. free coinage. Coinage of money without charge or de

posit of metal, extended in the United States only

to gold. free overside. Same as ex-ship. freight. 1. Anything transported by a carrying com

pany. 2. Charges for transportation of the heavier

class of goods. full-stock. Stock at the face value of $100. funded debt. Outstanding debts converted into bonds or annuities.

G general mortgage. A blanket mortgage. gold bond. A bond payable only in gold, principal and

interest. gold point. That period in the buying and selling of

foreign exchange when it permits the importation

or exportation of gold. gold reserve. The fund in gold, $150,000,000, set aside

in the United States treasury for the redemption of

greenbacks. government depository. A national bank designated to

receive government deposits. gross earnings. Total earnings. guaranteed bond. A bond issued by one company and

having the principal and interest guaranteed by an

other. guaranteed stock. A stock issued by one company and guaranteed by another.

H half-stock. Stock the par value of which is $50. holding company. Same as securities company. hypothecation. The pledging of any property, as securities, as collateral for loans.

1 in bond. Held under bond or in trust. indorsed bond. A bond bearing an indorsement not

properly pertaining to it. According to New York stock exchange rules such a bond must be designated “indorsed,” when offered for sale.

industrial stock. Stock of a manufacturing company. initialed check. A check bearing the initials of a

cashier or paying teller, signifying that the signature

is correct. interim dividend. Division of profit before the final

yearly dividend is declared. international stock. A stock dealt in in foreign ex

changes. investment securities. Stocks, bonds, or the like, con

sidered as safe and desirable as regards dividends. iron-clad note. A collateral note. irredeemable bond. A bond which can not be paid off,

now rarely issued. irredeemable currency. Fiat money. issue. 1. In law, the first delivery of a negotiable in.

strument in complete form to the holder. 2. In finance, the outstanding stock or bonds of a company.

J joint bond. A bond on which two or more parties are

bound, as in certain railroad issues. Joint mortgage. A mortgage issued jointly by two or

more parties. joint-stock company. A company having its capital

stock divided into shares of equal amount. judgment note, A promissory note bearing a warrant

of attorney authorizing the entry of a judgment without process against the maker in case of non

payment. junk. Cats and dogs. [Colloquial.]

K kiting. The incurring of a fresh obligation to discharge

an old one, as by exchanging checks with a con

federate. knocked down. Sold at the price bid, said of goods auctioned.

L land grant bond. A bond issued under a land grant

mortgage. land grant mortgage. A mortgage on a grant of land,

for the issuance of bonds.

leased line. A railroad held by another subject to a

lease. limited liability. Responsibility of stockholders for

company debts only to the amount of stock held; in

dicated by the word “Limited" in the title. liquid assets. Assets in cash or readily convertible into

cash. listed stocks. Stocks included in the list of those ad

mitted to dealings at an exchange. long and short haul clause. A clause in the interstate

commerce law prohibiting a greater comparative charge for freight transportation for a short distance, than for a long distance under similar condi. tions.

M

marked check. A check bearing a private mark with.

out which it is not valid. merger. A trust. mileage. 1. The number of miles in a railroad. 2. Dis

tance traveled. 3. Transportation issued in continu

ous slips to be lifted by the conductor as used. mortgage. A lien upon property to secure a debt, be

coming void upon the payment of the obligation. municipal bond. A bond issued by a borough, town or

city having a self-governing charter of incorpora. tion.

N

negotiable instrument. Any paper that may be trans

ferred by assignment, indorsement or delivery. net. 1. Clear of all expense, as earnings. 2. Not sub

ject to any deduction, as a price. net cash. Immediate payment; payment on delivery of

the goods. nominal assets. All assets, particularly those of doubt

ful value. non-assented stock or bonds. Stock or bonds held by

parties refusing to deposit their securities on a read.

justment of the affairs of a corporation. non-assessable stock. Stock not to be assessed.

non-cumulative stock. Stock on which no passed divi

dend has to be made good;-opposed to cumulative

stock. no protest. Not to be protested if not paid. nude contract. A contract without a consideration.

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obligatory bond. Any bond having the interest at a

fixed rate payable at designated intervals. operating company. The company carrying on a road,

the ownership of which vests elsewhere. option. The purchased privilege of either delivering a

specified amount of something at a specified price within a specified time, or calling for and receiving

such delivery. optional bond. A bond that may be retired by the

issuer at a designated earlier date. overcapitalization. Capitalization for an amount not

warranted by the profits. overcertification. The certification of a check by an

officer of a bank, the drawer not having sufficient

funds to cover it. overdraft. A check drawn on a bank not having suf

ficient funds to the credit of the drawer. overhead price. A price covering cost and all charges. overissue. Issue of stock beyond that authorized. overlying mortgage. A mortgage subsequent in claim

to another mortgage.

P

paid-up stock. Stock paid for in full. paper profits. Probable profits from transactions not

closed. par. Face value. parent company. A company from which other com

panies derive authority. parity. A price (of a stock) equivalent or equal to the

price of the same stock quoted on a different basis. par list. A list issued by a bank to correspondents or

customers, giving a list of cities and towns the checks of which will not be charged exchange.

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