marked check. A check bearing a private mark without which it is not valid.

merger. A trust.

mileage. 1. The number of miles in a railroad. 2. Distance traveled. 3. Transportation issued in continuous slips to be lifted by the conductor as used.

mortgage. A lien upon property to secure a debt, becoming void upon the payment of the obligation.

municipal bond. A bond issued by a borough, town or city having a self-governing charter of incorporation.

negotiable Instrument. Any paper that may be transferred by assignment, indorsement or delivery.

net. 1. Clear of all expense, as earnings. 2. Not subject to any deduction, as a price.

net cash. Immediate payment; payment on delivery of the goods.

nominal assets. All assets, particularly those of doubtful value.

non-assented stock or bonds. Stock or bonds held by parties refusing to deposit their securities on a readjustment of the affairs of a corporation.

non-assessable stock. Stock not to be assessed.

non-cumulative stock. Stock on which no passed dividend has to be made good; - opposed to cumulative stock.

no protest. Not to be protested if not paid.

nude contract. A contract without a consideration.