Chasing Eighths And Quarters

Used in reference to one satisfied with small profits.

Chattel Mortgage

A mortgage on personal property, movable goods, or live stock, and given to secure a debt or promise in much the same manner as is a mortgage upon real estate. A mortgage of this kind should be " recorded " the same as a mortgage on real estate. (See "Mortgage" in relation to fire insurance and recording.)

Chattels

Movable goods of all kinds; live stock, household furniture, and property other than real. (See " Real Property.")

Cheap Money

Low interest rates; i. e. money can be hired at a low rental.

Check Collections

See " Collections."

Checking Out

See " Overdraw."

Cheque

The English spelling for " check."

Cheque Bank

An English institution which formerly issued checks to persons desiring to remit money to a distant point. A postal money-order or express money-order in this country serves the same purpose.

Further functions of this institution were as set forth by one well-known financial writer as follows:

" The Cheque Bank proceeds on the new principle of issuing cheques which can be filled up only to limited amounts, as shown by printed and indelible perforated notices upon the forms. These cheques, too, are only to be had in exchange for the utmost sum for which they can be drawn, which sum is retained as a deposit until each corresponding cheque has been presented. It follows that each cheque, when duly filled up and signed by the owner, is as good as a bank-note issued against a documentary reserve."1

Chicago Board Of Trade

See " Board of Trade of the City of Chicago."

Chicago Junction

Chicago Junction Railways & Union Stock Yards Co.

China - Money of. See " Tael " and last part of " Cash."

Chopped

The Mexican dollar, which is in current use in China, before it is accepted by the people, must be stamped or " chopped " by some well-known mercantile concern or local governor, as a voucher for its weight and fineness. Many of the United States trade dollars, which were returned for redemption in 1887, bear these Chinese stamps.2

C. I. F. Charges, insurance, and freight paid or included.

Cipher Code

A method used in telegraphing or cabling, by which one word may be interpreted, by the use of a key, to mean several words or an entire sentence, thus not only reducing the cost of the message, but at the same time enabling the contents of the message to be kept secret, supposing a private cipher code to be used. There are, however, many codes upon the market which are in general use: but the Bender of a message in such a code should refer to the name of the code used as the first word in his message, unless it is understood between the sender and the receiver the particular cipher code from which the message was compiled.

1 " Money and the Mechanism of Exchange," Jevons. ² Muhlman's " Monetary Systems of the World."