The settlement of an account. In speculative language, the expression is used, "the account is closed." Suppose, for instance, the speculator has been buying and selling Union Pacific stock, running a marginal account with his broker (see " Margin ") and finally ends the transaction by buying or selling, as the case may be, and receives from the broker his profits, if any; then that account is closed.
Means to sell.
The quotation of the day's last sale of each security.
The Toledo, St. Louis & Western R. R. Co. The name "Clover Leaf" was suggested by some imaginary resemblance of the three States in which this road is located - Ohio, Illinois and Indiana - to a clover leaf.
The "ticker" abbreviation for "consolidated" or "consols."
The railways which do the anthracite and bituminous coal transportation of the country; many of which have large coal mining interests of their own. Some of the most prominent of the coal roads are the Delaware, Lackawanna & Western, Central R. R. of New Jersey, Lehigh Valley, Reading, Delaware & Hudson, Baltimore & Ohio, Chesapeake & Ohio, etc. (See "Hard Coalers" and "Soft Coalers.")
See " Cipher Code."
See "Futures" and "Spot," which methods of trading are customary in "coffee." The trading unit is 250 bags, each weighing about 130 pounds. Fluctuations are recorded on the basis of 1-100th of a cent per pound, which equals one point, i. e. $3.25 on a 250 bag transaction. One cent per pound equals $325 on the same amount. The commission charged non-members of the New York Coffee and Sugar Exchange is $20 for "buying and selling" 250 bags, or, as it is termed, "$20 per contract." The charge for members of the Exchange is $10 for the same transaction. The "margin" required under the rules is 50 cents to $2.00 per bag, the usual margin" being $1.00.