Berlin Discounts

Rates at which good "commercial paper" is being "discounted" (read " Discounted ") at that point.

Betterment (Or Improvement)

When a railway company replaces a 60 lb. rail with a 90 lb. rail, the cost of the additional 30 lbs. of metal per yard is usually charged first to a "betterment account" or "improvement account." The question as to how it shall be eventually treated at the end of a fiscal year depends largely upon the financial condition of the company. One which is prosperous very likely may charge this directly to "operating expense;" otherwise, it may be charged to " capital account" or " construction account, " but only companies of limited financial resources would so treat an expenditure of this nature. Many experts hold that the capitalization of a "betterment" should be only in proportion to the increased earning ability conferred upon the property by the "betterment." (See subjects in quotations.)

Bid

(See " Bid Price.") Sometimes called a " tender."

Bid And Asked Prices

The quotations at which a given security can be either bought or sold.

Bid In

Used in reference to an article of property bought in at an auction or foreclosure sale; price offered not sufficiently high to warrant an actual sale.

Bid Price

The price offered, or "bid," for any security or commodity. The "bid price" of Western Union Telegraph stock is 95 when that is the price at which it can be sold. (See also "Sealed Bid.")

Bidding Up

An advance in prices brought about by bidding higher and higher, always a little above the last actual sale.

Big

Preferred stock.

Big Four

Cleveland, Cincinnati, Chicago & St. Louis Railway Company.

Big Katy

The preferred stock in the Missouri, Kansas and Texas Railway Co.

Big Kitty

Same as last subject.

Big Npr

(Nipper). Northern Pacific R. R. Co. preferred stock.

Big Steel

The preferred stock of the United States Steel Corporation.

Big Three

The name applied to the three largest life insurance companies of New York City; namely, The New York Life Insurance Co., The Equitable Life Assurance Society, and The Mutual Life Insurance Company of New York.

Big Union

Union Pacific Ry. Co. preferred stock.

Bill

" Bill of Exchange." This term is also extended not only to the ordinary bill, or statement, of money due, as a grocer's bill, etc., but to cover a promissory note, or any paper demanding money settlement. In the language of the " clear-ing-house " " bill " refers to bank bills or government notes.

Bill At Sight

Same as "Sight Bill" or "Draft." (See "Sight Draft.")

Bill-Book

A bank's record of drafts, notes, etc.