Administrator (Or Administratrix)

A person named by the

Probate Court, or other proper authority, to take charge of the goods and estate of one dying without a will.

Ad Val

Ad Valorem.

Ad Valorem

This is a term often met with in connection with custom house matters. Duties are commonly referred to under two classes - "ad valorem" and "specific." The former is the duty levied according to the cost or marketable value of the goods in the country whence they were shipped. Specific duty is one levied without regard to value, but at a fixed rate per pound, or ton, or by measure.

Advance

"The market has advanced;" "prices have advanced; " expressions indicating a rise in prices.

An occasional use of the word is to indicate that money has been loaned,1 or that a payment has been made. When Jones " advances " Smith $50, it may indicate either of these transactions.

Advance Bill

This is a regular " commercial bill " of exchange, only drawn against goods to be afterwards shipped instead of against a shipment already made. They are usually drawn only when there is a considerable regularity of trading between the drawer and the acceptor of the bill, whereby the latter leaves it largely to the judgment of the drawer as to the character, amount, and date of shipment of the goods.

Adventure

The Adventure Consolidated Copper Co. Also an old term for a shipping venture or speculation.

Advice

If, as an example, you forward a check to some bank for deposit accompanied with a letter containing the words " for the credit and advice of James Taylor," it means that the bank must credit the amount to James Taylor and notify him; i.e. send him " advice," that it has done so. Also " letter of advice," to which refer.

Afloat

A term used by traders in grain indicating the amount loaded in vessels which may be in harbour, or exported, but not yet reached its destination.

After Sight

After presentation for "acceptance," to which refer.

Agio

(There are various other ways of spelling this word.) The rate of exchange between the moneys of two countries; also the percentage of difference in values between two different moneys in the same country. For instance, a paper currency in some country may not be accepted at its face value in exchange for metallic currency. The percentage by which the latter exceeds the former in value is known as " agio." The percentage in value at which the paper currency is accepted below the metallic currency is called " disagio;" "agio" representing & premium upon a better currency, and "disagio" a discount upon a depreciated currency. The wear and tear, or "abrasion" of a metallic currency is also called "disagio."