Books Open

(See "Books Close.") Transfers of stocks may again be made.

Book Value

The worth of any business or corporation, as shown by its own books. Suppose a corporation of $100,000 capital stock, par value $100, shows, by its books, profits which have not been divided, of $50,000. Taking for granted that the books honestly represent the facts, then there is one half, or 50%, as much profit as capital; therefore, adding the 50% to the $100, par value of the stock, the " book value " would be $150 per share.


An enormous advance in prices; everything going upward midst tremendous enthusiasm, until unreasonable and unnatural levels are reached.


Those endeavouring to create a " boom," or instrumental in causing one.


See " To Boot."

Boston Method Of Figuring Interest

See " Interest."

Boston Shilling

See " Pine Tree Money."


" The bottom has been reached; " meaning that prices will not go lower, or that depressed business conditions have reached their lowest ebb, and, in either case, an upward tendency is next expected.

Bottom Has Dropped Out Of

If the bottom drops out of a pail of milk, it is about as bad a catastrophe as could happen to the milk. When the " bottom drops out of the market," a similar idea is conveyed regarding prices; namely, that they have gone downward in about as bad a way as it is possible to conceive, and that everything has a very discouraging appearance.

Bottom Prices

The lowest prices. The expression " he got in at the bottom " means that nobody obtained the security at a less price than the person referred to.


A loan which has a vessel pledged as security for its payment.

Bottomry Bond

The contract given for the securing of a vessel to the lender as a pledge for the payment of the loan. (See " Bottomry." )


The name applies to stock exchanges in Continental Europe. It should always be written with a capital "B"; if written with a small "b," as "la bourse," it means "the purse"; with a capital "B," it means "the exchange."

Generally speaking, the "Bourse" may mean either the market place for the sale of securities, the meeting place for bankers, bill-brokers or even merchants to transact their business, or the particular place where some specific kind of merchandise, such as grains, cotton, etc., are bought and sold.

The Paris "Bourse " was founded in 1726.

B. Q. Chicago, Burlington & Quincy R. R. Co.

Bradstreet's. See " Commercial Agencies."


(Read "Seigniorage.") "Brassage" differs from "seigniorage" in the latter indicating the difference between the commercial value of the metal in the coin, and its face value, while " brassage " is a charge made for coining bullion, usually based upon the approximate cost of accomplishing the same.