Agreement. An agreement by which members of an underwriting syndicate are bound. (See Underwriting and Syndicate.)

Many variations in prices; first up and then down; such variations at times may be large.

The gold dollar is the unit of value in this country, and must be of a certain weight and fineness (25.8 grains of gold, .900 fine) and by it all values are measured. This is to our money system what the pound is to our system of weights. In like manner the pound sterling, the lira, the yen, etc., are the units of value

This is a term used in Great Britain and means 1-32 of 1% less or below a priceTo illustrate, under J would equal 3-32.

To sell, dispose of, get rid ofA finer meaning is to dispose of certain securities in season to prevent disaster; i.eto sell an undesirable stock before it declines, in which event, it is sometimes said that the person who unloaded succeeded in getting ashoreThis is a bit of slang which suggests a person getting ashore from a sinking boat in season to prevent drowning.

Underlying mortgageThis is almost selt explained by the literal dictionary definition of the word underlieAn underlying mortgage takes precedence over some other mortgage covering the same propertyIt may be a first mortgage, and is usually so considered, but all mortgages on a property which have precedence over any other mortgage underlie the latter.

The undertone of the market was weak, meaning that there was an underlying weakness prevailing; a tendency towards a decline in prices.

securities are those the owners of which have not agreed to some change in their status.

The meaning of this term may be best explained by using this rule of the New York Stock Exchange as an example: When the insolvency of a member or firm is announced to the Exchange, members having contracts subject to the rules of the Exchange with the member or firm, shall without unnecessary delay proceed to close the same. If the contracts involve securities admitted to quotation upon the Exchange the closing must be in the Exchange, either officially by the chairman, or by personal purchase or sale. If the contracts involve securities not dealt in on the Exchange, the purchase or sale of such securities must be promptly made in the best available market. Should a contract not be closed, as above provided, the price of settlement shall be fixed by the price current at the time when such contract should have been closed under this rule. Although the rules of other exchanges may vary somewhat from the above, the intent is substantially the same. Securities bought or sold as above are frequently quoted upon the tape accompanied by the letters U. R.

During the Civil War, the United States forced a certain amount of paper currency into circulation, known as greenbacks or United States notes. They are legal tender for all debts, public and private, except duties on imports and interest on the public debt, but this latter restriction amounts to little at the present time, because, upon presentation of any of these notes, the United States Treasury redeems them in gold coin, which coin itself may be used as legal tender for purposes prohibited to greenbacks.

Securities that have been issued and sold to bankers, underwriters (see Underwriters), etc., who had expected to again sell them to investors, or the public, so-called. The public, owing to unfavourable market conditions unforeseen, or for other reasons, not having taken these securities, has not absorbed or digested them, and they remain in the hands of the bankers and underwriters undigested, where they are likely to remain until market conditions improve sufficiently to permit of their absorption.1

United States Smelting, Refining and Mining Co., formerly the United States Mining Co.

The selling agency for the Anaconda Copper Mining Co.

The Secretary of the Treasury is authorized to appoint any national bank as a depository for the moneys of the United States Government. This is a method which the Government adopts in order that a portion, at least, of the large sums of money which it often accumulates may get into use. It is conceivable that the Government receipts might be so large that an enormous

One is apt to think that the debt of the Government is its outstanding bonds, but this is incorrect, for paper money of all kinds, even although not interest bearing, is figured into the debt statement. Deductions, however, are made for gold held in the Treasury for the redemption of outstanding gold certificates; standard silver dollars held for the redemption of outstanding silver certificates and Treasury notes of 1890; other cash assets held in the Treasury; and for gold coin and gold certificates held by Federal Reserve Banks and Federal Reserve Agents against issues of Federal Reserve notes.

Paper money behind which there is no stock of metallic money or anything to redeem or secure it.

See Unification. Union Pacific Interests. By its Annual Report, for the year ending June 30th, 1916, Union Pacific Railroad Co. stock holdings were exhibited in the following: This list does not include the railroads actually under the direct management of the Union Pacific Railroad Co., such as the In addition to the foregoing, there are holdings of bonds and notes in railroad, coal, steamship companies, etc., aggregating $72,412,744.

Funds available to the borrower of a revolving credit facility. It must be repaid on schedule

Charging too much interest on a debt or liability. Maximum rate ceilings are in place to prevent this.

A rule allowing short sale on plus tick or zero plus tick securities.

Trades done between brokers that do not enter the exchange. The prices must be fair. Refer to crossed trade.

When an institution takes collateral from the borrower right away to cover losses. Refer to periodic collateral.

An option that ends an european option if the price goes beyond a barrier. If the barrier is not crossed the european option is safe. Refer to down and in, down and out, knockout, reverse knockout, and up and in option.

An option that creates an european option if the price goes beyond a barrier. Refer to barrier, down and in, down and out, reverse knockin, knockin, and up and out options.

A debt borrowed with no collateral. The repayment comes from the debtors pocket. This is only given to those with a high credit rating. Refer to secured debt.