The British consols are securities representing the consolidated debt of England; the word consol being an abbreviation of consolidated. They are quoted in the financial columns of the newspapers. Here is an illustra-tration: "Consols are unchanged at 94% for cash and 94 7/8 for November settlement." The word settlement is used as we would use the word account. On the London Stock Exchange there are special settling days for securities of all sorts, including transactions in foreign exchange. By "November settlement" it is understood that the consols are to be paid for on the November settling day.