Days Of Grace

Negotiable promissory notes or bills of exchange, payable at a certain time, are in most places entitled to three days' delay beyond the time expressed, which are called days of grace.

Debenture

A writing acknowledging a debt; a writing signed by a public officer or corporation as evidence of debt.

Debenture Bonds

Concentration of floating capitalization into convenient bonded form. Originally, notes in the form of bonds.

Deed

A written contract under seal, usually transferring the ownership of real estate.

Defalcation

Deduction or discount. Embezzlement of money by an officer having it in charge.

Default

The failure to pay fixed charges or interest coupons. This is a serious thing for a corporation, and usually causes a heavy shrinkage in value.

Discount

An amount deducted from the regular price or list.

Discount Rate

The rate per cent. of interest charged by banks for the use of money loaned. It is always deducted from the principal when the loan is made.

Dishonor

A failure to pay an obligation when due; a failure to accept a draft when presented for acceptance.

Dividend

The proportion of the profits alloted to each stockholder in a company.

Executor

One appointed to execute the will of another.

Exporting Countries

Those producing a surplus of grain which finds a market in other countries where there is a deficiency. The principal ones are the United States, Russia, Argentina, Hungarv, India, Roumania, and Australia.

Extension

An allowance of further time for the payment of a debt.