Asked Price

The price at which a security or commodity is offered for sale. The " asked price " of Western Union Telegraph stock is 95 when that is the price at which it can be bought.

Assaying

A chemical analysis of ores or metals.

Assay Office

A branch of the U. S. Mint next to the Sub-treasury on Wall St., in New York City. Its functions are to assay, part, and refine gold or silver when presented in the form of crude bullion, jewelry, or whatever it may be, and the manufacture of gold and silver bars. All such that pass through the " assay office " bears the Government stamp certifying to weight and fineness. A charge is made for doing the work for others than the Government. There are " assay-offices " at other points in the country.

Assay Office Bar

A United States Government bar of fine gold or silver manufactured at a government " assay office" and so termed to designate it from one made without government regulation, which is called a "commercial bar."

Assented Stocks (Or Bonds)

In the event of a corporation passing through a reorganization where the security holders are requested to give "assent " to a certain plan; in the case of a stock being " assessed;" or similar instances where the consent of each share or bondholder is desired, some banking house or trust company is usually selected to receive the securities and stamp thereon in each case the fact that the holder has " assented "to the plan or paid the " assessment." If more than one "assessment" is called for, " first assessment paid," "second assessment paid," etc., as the case may be, will be stamped on the security. Securities so stamped may have quite a different market value from those not stamped, for it is evidence of the assent or non-assent to the plan.

Financial columns and stock exchange sheets refer to the above in the brief method of " assented," "ass't. pd.," "1st 1st. ass't. pd.," etc.

Assessable

See " Non-assessable."

Assessment

See " Non-assessable " and " Double Liability."

Assessment And Fraternal Insurance

A system of life insurance by which the annual premium to be paid by the insured is not fixed, but subject to change from time to time, according to the deaths during the period, each member being assessed for his proportion of the expense of the Society and the death losses.

This is probably, as a class, the cheapest kind of insurance, but has proved to be the most uncertain, on account of the many associations which have failed, and the - at times - high assessments levied. It is taken out largely by those of limited means and in small amounts. It is commonly maintained by Granges and secret orders in general, and is a very old form of insurance, its most successful exponent being the " Guilds " of the older countries.