backing. Indorsement.

balance sheet. A tabular statement showing assets and liabilities, profit and loss. ballooning. Inflating a stock value. [Colloquial.] bear. A speculator believing in lower prices'; one who sells stock short to buy back at a lower price. bearing the market. Working to force prices down, bid and asked quotations. Quotations furnished by stock specialists, the nominal prices of the day on the stock exchange, blanket mortgage. A general mortgage. blind pool. A money pool to be used at the manager's discretion. block. A large number of shares. board of trade. 1. An organization formed to promote mercantile or commercial interests. 2. An exchange or trading organization the members of which conduct large speculative operations. bond. A secured certificate of obligation to pay money. bonded. Secured by some guaranty. bonus. A premium or gratuity. books close. That time, prior to a dividend payment, at which ownership of securities may not be changed in the record; - opposed to books open. books open. The opposite of books close. book value. Stock value based on earnings.

branch bank. A bank under the control and supervision of a larger bank; - not permitted under the national bank act.

bucket shop. A place where bets are placed on regular exchange quotations.

bucketing of stocks. Sales by a broker - for his own account and risk - against customers' purchases, or purchases by the broker against customers' sales.

budget. An estimate of probable revenues and expenditures by the government in the ensuing year with affecting measures. [English.] bull. A speculator believing in higher prices; one buying in expectation of a raise.

bulling the market. Working to make prices higher.

buyer four, ten, twenty, etc. Bought for delivery on any day demanded by the buyer within the number of days specified (4-10-20-etc.) on one day's notice to the seller.

buying back. Purchasing a stock previously sold without ownership.

by-bidder. A side bidder at an auction to raise prices.

by-laws. Rules, subordinate to a constitution or charter, adopted by an association or corporation for the conduct of its affairs.