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.)
(See " Bid Price.") Sometimes called a " tender."
The quotations at which a given security can be either bought or sold.
Cleveland, Cincinnati, Chicago & St. Louis Railway Company.
The preferred stock in the Missouri, Kansas and Texas Railway Co.
Same as last subject.
(Nipper). Northern Pacific R. R. Co. preferred stock.
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.
Union Pacific Ry. Co. preferred stock.
" 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.