Cyclopedia of Commerce, Accountancy, Business Administration, v. 05 (of 10)American School of Correspondence
General
Cyclopedia of Commerce, Accountancy, Business Administration, v. 05 (of 10)
American School of Correspondence
Accounting; Business; Commerce
=BULL:= One who believes that conditions are ripe for an advance in
prices or one who desires such an advance and talks _bullish_ in
consequence. One writer defines a bull as a man who has
something to sell, consequently he is anxiously waiting for
prices to go up that he may sell at a good price.
=BUY AT MARKET:= An order to buy at the lowest prices at which the
security can be obtained without any price limit being set by
the one giving the order.
=BUYER'S OPTION:= A contract under the terms of which the buyer of a
security need not receive delivery until the end of a specified
time, but he has the right to demand delivery at any time within
the period covered by the contract by giving the seller one
day's notice. The understanding is briefly expressed as "buyer
4," "buyer 10," the figures indicating the number of days
provided for in the agreement.
=BUYING ORDER:= An order given to a broker to buy a certain security
with or without limit as to price as the case may be. An order
to buy is good for the date for which it was given only, unless
otherwise specified. Sometimes an order is given "until
countermanded" or "until cancelled" by which the broker
understands that there is no definite limit as to time; but
brokers usually remind their customers regarding orders to be
sure that they still desire them to be kept in force.
=CABLES:= Telegrams from foreign countries on the conditions of the
market. Large brokers receive cables each morning from London,
Paris, and other points giving closing prices of grain and
provision in that market.
=CALL:= A privilege which one party buys of another to _call_
(receive) from him a certain amount of stocks, grain, etc., at a
certain price and date.
=CARRYING CHARGES:= The interest charged by brokers for the amount
of money advanced by them to customers in marginal transactions;
also used by a Chicago firm to indicate storage rates, interest,
and insurance on grain or provisions.
=CASH GRAIN:= Grain for delivery at once. _Spot grain_ has the same
meaning.
=COMMISSIONS:= The charge made by any broker for buying or selling
securities for someone else.
=CURB:= Securities which are not traded in upon the large stock
exchanges or new securities which have not yet been listed upon
such exchanges are handled in what is known as the _curb
market_. The reason for the existence of "curb market" in the
open rather than in some building is that if the latter plan
were pursued there would, in truth, exist another exchange, and
it would not be permissible for a member of the regular exchange
of the same city to be represented thereon as he frequently now
is upon the _curb_.
Public-domain text, read in full here on John Shaqi.
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