All of the common terms used in business and commerce are defined elsewhere in these volumes and may be easily referred to by consulting the index. All necessary terms not so defined are here listed for consultation. A number of words defined here are more fully treated elsewhere, for which treatment the user is referred to the index.


A1. First class; without a superior, abatement. In contracts, a creditor's reduction of claim. "A" bond. One of the first of a series of bonds designated alphabetically, absolute indorsement. An indorsement binding the indorser to pay when notified that the prior parties have failed to do so. absorbed. Subscribed for; - applied to bonds, etc. account. 1. The record of any business transaction.

2. On the stock exchange, the extent of speculative positions open, accrued dividend. The increment accumulating at any time before a regular dividend payment, acquittance. An acknowledgment of the payment of a debt, .actual assets. Money; property of certain value, adjustment bond. A bond issued to secure money, as for improvements, adjustment mortgage. 1. A mortgage usually covering improvements. 2. A second mortgage, afloat. Designating grain on passage, allocation. Apportionment; allotment; assignment.

allotment. 1. Share or portion. 2. In underwriting, the amount assigned a member or subscriber.

all-'round price. Overhead price.

arbitrage. Purchase and sale of the same thing in different markets.

arrha. Earnest money. [Latin.] assessment. A demand upon stockholders for a specified sum per share of stock.

assets. Total worth of property; - as of a person.

aval. Guaranty; indorsement.

average book. In banking, a book recording the average credit balances of depositors.