Sinking Fund

A sum of money set apart for the redemption of the debts of a corporation or government.

Solvent

Able to pay one's liabilities.

Spot Cash

A term applied to a sale of goods to be paid for on delivery, i. e., C. O. D.

Stock

Certificates issued by a corporation certifying that the person in whose name they are written and stand registered on the corporation books is entitled to share in the company's profits, to vote, etc.

Syndicate

A number of capitalists who unite together to dispose of a large loan, or to conduct some great financial enterprise.

Trade Discount

A discount from certain list-prices, or from the amount of purchases, made to a dealer on account of a change in the prices, or for cash payments.

Trust

A combination of manufacturers or dealers for the purpose of limiting production and advancing prices for their own benefit.

Valid

A term applied to a contract that is properly executed; that is, legal or binding.

Void

Having no legal or binding force.

Watered Stock

An increase in capitalization without a corresponding increase in assets.

Without Recourse

Not liable as an indorse' if written over an indorser's signature op the back of commercial paper.

Warranty

An agreement to become respons'ble, if certain facts do not turn out to be as represented.