The general foreign - particularly London - name for United States securities. As a rule, however, securities that are dealt in upon the New York Stock Exchange are more especially understood.

Amortise (Or Amortize)

The payment of a debt by means of a sinking fund. (See " Sinking Fund.")


Anaconda Copper Mining Co.

Ancillary Receiver

A second, or assistant receiver, who manages the property situated in some State other than that-in which the " receiver " (principal one) gets his authority.

And Interest

See " Accrued Interest."

A. N. F. M. August, November, February, and May; interest or dividends are payable quarterly beginning with August.


See India Money Table under " Rupee."

Annual Interest

Interest payable once a year. Very few investments have interest payable at such infrequent intervals, and are not considered as desirable as in the cases where interest is payable semi-annually or quarterly.


A fixed sum of money payable yearly; or, to put it differently: a fixed sum - granted or bequeathed - pay -able at certain regular periods.

Anthracite Roads

See " Hard Coalers."

Anticipation Of Taxes

See " Tax Relief Bonds."

Anti-Stock Watering Laws. Laws which require that there shall be a dollar invested for every dollar of stock issued. (See also " Blue-sky Laws.")


The " ticker " abbreviation for " assessment paid." (See " Assented Stocks.")

Appraised Value

The value set upon a property by an "appraiser."


The placing of a value upon a property; the value set.


One who is named by an individual or appointed by law to estimate values.

Arbitrage Houses

Stock exchange houses which make a specialty of dealing in " arbitrage." (See that subject.)

Arbitrage Issues

(First read "Arbitrage.") Securities upon which "arbitrage"business is done, but as domestic "arbitrage" - "shunting" as it is called - is not countenanced by the leading stock exchanges, those issues which are dealt in by "arbitrage " dealers between the London and New York markets are more particularly understood.


A dealer in "arbitrage." (See that subject.)


A fixed sum paid by a main line of railway to a branch, or connecting line, for freight originating on the latter, regardless of what is its proportion of the through rate on such freight. This is on the theory that a branch road, delivering freight to a main line, is entitled to more than its mileage proportion of the through rate.

Arbitrated Exchange (Or Arbitration Of Exchange)

Refer to "Triangular Operation," which is what is understood.


The various securities of the Argentine Republic dealt in on the London Stock Exchange.