equipment bond. One of a series of bonds given for money to equip a railroad with rolling stock.

equity. The difference between the value of encumbered property and the incumbrance standing against it.

exchange. 1. The payment of an obligation in one place by the transfer of credit from another place. 2. A draft. 3. A place where purchases and sales are made.

ex-coupon. Having the coupon for the current interest payment detached; - said of a bond.

ex-dividend. Not including dividend; - said of a stock sold on or after the day the transfer books of a corporation close. ex-drawing. Not including any advantage accruing to the buyer if drawn for redemption. [English.] ex-interest. Not including interest. ex-rights. Carrying with sale no rights recently granted holders; - said of a stock. ex-ship. Free of charges up to the time of discharge from the vessel. ex-store. Subject to all charges after leaving storage. extended bond. A bond upon which extension of time has been granted. extension bond. A mortgage bond covering a railroad extension.