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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.
fiat money. Money by decree of the government.
fore all others.
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.
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.
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.
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.
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.
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.