A written agreement relieving one from the necessity of making a payment of money.

An issue of stocks or bonds has been assimilated or absorbed when disposed of to the investment public.

Strictly, the last of the fortnightly settlingdays. Also called pay-day and settlement day. This is the day upon which stocks are delivered and paid for, and settlements made.

This can best be understood by first reading Sealed Bid. All or none is a condition imposed by the bidder for an issue of securities, by which it is understood that in the event of his bid being accepted, he is to take the entire issue, but no lesser amount. Or the seller of the security may stipulate that the successful bidder shall be bound by this same condition.

As defined by the Federal Reserve Act, a draft or bill of exchange drawn to order, having a definite maturity, and payable in dollars, in the United States, the obligation to pay which has been accepted by an acknowledgment written or stamped and signed across the face of the instrument by the party on whom it is drawn; such agreement to be to the effect that the acceptor will pay at maturity according to the tenor of such draft or bill without qualifying conditions.

Buying more of a given security as prices advance. By this process the average cost of the whole increases. If one has been selling short (see that subject) a certain security, and, contrary to his expectations, the price continues to advance, he may make additional sales of the same security at the higher quotations. This would also be known as averaging up or averaging.

This is a regular commercial bill of exchange, only drawn against goods to be afterwards shipped instead of against a shipment already made. They are usually drawn only when there is a considerable regularity of trading between the drawer and the acceptor of the bill, whereby the latter leave? it largely to the judgment of the drawer as to the character, amount, and date of shipment of the goods.

A branch of the USMint next to the SubTreasury on Wall St., in New York CityIts functions are to assay, part and refine gold or silver when presented in the form of crude bullion, jewelry, or whatever it may be, and the manufacture of gold and silver barsAll such that pass through the assay office bears the Government stamp certifying to weight and finenessA charge is made for domg the work for others than the GovernmentThere are assay offices at other points in the country.

Delivery of the security upon the third day following the contract.

An order to buy or sell at the best price the market affords at the time, no actual price limit being named.

The statement which a broker, agent, or commission merchant gives his customer, showing how his account stands.

Borrowers succeeded in finding accommodation, meaning that they succeeded in borrowing moneyTo be accommodated in finance means the same as in its general sense, to accomplish what is desired.

Quotations of securities’ sold at auction frequently appear in the papers. In Boston the custom is to hold auction sales of securities once a week

Bonds issued by a corporation, the control or ownership of which passes into the hands of another corporation, which latter agrees to be responsible for the payment both of the principal and interest of such bonds, are spoken of as assumed bonds; that is, the parent company assumes the indebtedness. In railroad finance such securities are spoken of as divisional issues, which is really what they are. Again, they are frequently referred to as guaranteed bonds, but in the latter case the fact of the guarantee appears upon the bonds themselves. Unless a payment of an issue of an absorbed company has been actually assumed by the parent company, the investor can only look to the value of the property actually mortgaged as security for its investment, although the principal and interest on such issues might be protected by the larger company for the benefit of its own credit. Where the bonds have been actually assumed, then the parent company may be looked to for the final payment, although even in such a case it is not advisable to purchase securities of a branch or division which is not of sufficient importance to the controlling company to make it worth while to maintain the same and keep it in good physical condition.

As usually understood, Boston, New York, Philadelphia, and Baltimore.

When property is taken or held by process of law in order to satisfy a claim, it is said to have been attached.

Everything of any supposed value belonging to a person, business, or corporation is called assets; such as property, real estate, machinery, merchandise, material and stock in process of manufacture, cash and debts receivable, patent rights, trade marks, good will, profits, etc.

Interest or dividends payable semi-annually, April and October.

This is a French term for shares.

A chemical analysis of ores or metals.

This is a foreign term having commonly two meanings: First, the rate or price of exchange; second, speculation in stocks, bullion, exchange, etc.

There are two common uses of this word: First, the market absorbed all stock offered. By this it is understood that all the stock that was offered found a market, or purchasers. Second, we say that one railroad has absorbed another, meaning that it has obtained control of, or bought it.

A person skilled in the theories and mathematical calculations on which life insurance is founded and conducted. He computes mathematically the reserve upon policies, premiums, surplus, dividends, and performs any other mathematical calculations needed in the practice of the company. The study of death rates always has been, and must continue to be, a very important item in the activity of the actuary, and the measuring of probabilities based on his calculations is one of his most responsible duties.

During the French Revolution of 1789, monetary difficulties were experienced in France, resulting in an issue of paper currency known as assignats, the security behind it being church land that had been confiscated, besides which they were additionally secured by all the national domains and other propertyThe issue became so great, over 45,000,000,000 of francs, that there was a great decline in their value before their withdrawal.1 Conant says that their depreciation was due to the attempt to base cireulating notes upon land and other wealth of unquestioned value, but not of immediate exchangeability.

Literally, in case of need. This often appears in bills of exchange naming some one to whom application for payment may be made in case the original person (drawee) refuses.