What Is A Camper?

One who watches the moves of the big operators in the Street and tries to buy and sell when the leaders are doing the same is called a "camper."

What Is A Dummy Director?

It is one who is elected for a temporary period, having no real interest in the corporation, or one who is elected to serve the interests of some controlling power, to act and do as he is bid without individual reason or purpose.

What Is A Dummy Stockholder?

One in whose name stock is issued, but who does not own it; dummy stockholders are used by the actual owners of stock to conceal their names from the public, for various purposes.

What Is Emergency Currency?

During a panic or any stringent money market, any currency provided outside of the regular issue of the banks and government is called an "Emergency Currency." For instance, Clearing House Certificates such as were issued by the Clearing House Associations of the principal cities in 1908, provided an "Emergency Currency."

What Are Falling Averages?

If the amount of the average deposits, loans, cash balances, etc., in the weekly statements of the banks are declining, the statement is referred to as made up on "falling averages."

What Is Fiat Money?

It is paper money issued by a government not backed by an equal'amount in real value of gold or silver coin or bullion deposited in the United States Treasury. In other words, it is notes or paper money issued by a government on its credit.

What Is A Finance Committee?

It is a committee of a corporation elected or appointed to arrange all questions relating to the finances of the corporation or institution. Such a committee must sanction or report favorably on any important changes in a financial policy before it can be put into execution. The number of members of a "finance committee" differs according to the by-laws of a corporation.

What Is A Fiscal Agent?

The term is ambiguous in a legal sense, as its direct application has not been established in a court of law. The word "fiscal" practically means financial, so in that form a fiscal agent is a financial agent or an agent representing the money interest of an individual or a firm. Usage among brokers has brought the acceptance of "fiscal agent" to mean an ex-broker who undertakes to raise money for a corporation by selling its securities to the public direct and through other brokers. The "fiscal agent" differs from the "underwriter," as ordinarily the fiscal agent assumes no obligation beyond advertising expense and incidental expenses accompanying the general exploitation and sale of the securities. Sometimes he is allowed the call on a block of stock at a fixed price and sometimes his compensation is a certain commission or percentage of total sales.

What Is The Gold Standard Act?

An act of March 14, 1900, which fixes the standard gold dollar as one containing 25.8 grains of gold, nine-tenths fine. All forms of money issued or coined by the United States must be maintained on a parity of value with the gold standard.

What Is A Subsidiary Company?

It is a company, the control of which is vested in another corporation, through the ownership of a majority of its stock. The company owning the control of the stock of the "subsidiary" company is known as a Holding Company.