What Are Clearances?

Freight shipped by water and cleared from interior of coast ports.

What Are Clearing House Certificates?

They are certificates issued by Clearing House Associations in a time of emergency or monetary stringency against collateral approved by a loan committee.

What Is A Clique?

A combination of operators, controlling large capital used in order to manipulate or influence the market up or down.

What Is A Close Corporation?

An incorporated company, the stock of which is held by a limited number of persons and is not in the hands of the public. Usually in a close corporation there is an agreement or understanding among the few stockholders whereby each is prohibited from disposing of or selling his interest without the consent of the others.

What Are Coalers?

The leading railroads known as coalers are the Delaware, Lackawanna & Western, Delaware & Hudson, Jersey Central, and Reading.

What Are Collaterals?

Stocks deposited with banks or brokers as security when money is borrowed, or to secure a margin account.

What Is Commercial Credit?

It is the basis of credit established by commercial agencies such as Bradstreet, Dun and others.

What Is Commercial Paper?

Commercial paper means acceptances and promissory notes. Acceptances are drafts or bills of exchange which have been accepted. In large cities there is a great deal of business transacted in buying and selling commercial paper. Individual dealers buy from makers at one rate of discount and sell to banks and other dealers at a lower rate. Negotiable notes drawn by merchants and accepted for discount by banks. High-class commercial paper is considered a good investment.

What Are Commissions?

Brokers' fees or charges for executing buying and selling orders.

What Are Commission Houses?

Houses buying and selling stocks only for customers. They do not speculate for their own account.

What Is A Commitment?

It is an act of engagement or pledging in the market among brokers. A verbal agreement to buy or sell at a certain price.

What Is A Common Carrier?

Any railroad or steamship line undertaking to transport goods for the public is a common carrier, and as such is liable for losses and injuries to goods, except as specified in the carrying contract, or from carelessness of the owner of the property carried, etc.

What Is A Comparison?

At the close of the Stock Exchange, brokers' messengers compare the day's transactions. If John Doe sells 100 shares of New York Central to Robert Evans at 115, John Doe's messenger goes to the office of Robert Evans and compares the transaction. Robert Evans' messenger makes a trip to the office of John Doe, so, if any mistake or friction has occurred, it is adjusted before the Board opens on the day following.

What Is Conducting Transportation?

It refers to a railroad report item that includes all expenses in connection with the business of hauling, transporting, or storing.

What Is Meant By Consign?

It is the act of sending goods to an agent or representative, usually to be sold. The goods are a consignment; the sender is the consignor and the receiver is a consignee.

What Is A Consol?

The term is an abbreviation of consolidated annuities. It is specifically used in England in connection with the funded debt of Great Britain. The debt of England is in the form of stock representing a consolidation of various loans, and, therefore, is commonly known as English Consols. This public debt, representing nine different loans in 1851, was consolidated into 3% stocks or in bonds. In 1888 the 3%s were converted into 2¾%, and in 1903 the rate was reduced to 2½%.

What Is The Meaning Of Contango?

It is a London Stock Exchange term and refers to the rate paid for carrying shares from one settlement day to another. If a broker desires to continue shares or to postpone the day of delivering, he pays a premium. In the seller's case such a premium is called Backwardation, but in the buyer's case it is called Contango.