Close Corporation

A stock company whose shares and management are in the hands of a few persons, and the stock of which is seldom, if ever, publicly offered.

Closed

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.

Other meanings are transaction or trade completed and also "books close,"' which subject see.

Closed Mortgage

A mortgage under which no more indebtedness can be incurred; the amount of indebtedness authorized under the terms of the mortgage has been reached.

Closed Out

All sold.

Close Money

Money rates fairly high, and loans not easily obtained.

Close Out

Means to sell.

Close Prices

Changes in prices by small fractions; or a difference between the bid and asked price of but, say, 1-8%.

Closing Prices

The quotation of the day's last sale of each security.

Clover Leaf

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.

Clt

The "ticker " abbreviation for " collateral trust"

Cn

The "ticker" abbreviation for "consolidated" or "consols."

Coalers

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.")

Coal Roads

See "Coalers."

C. O. D. Cash (or collect) on delivery. To be more explicit, the delivery of the goods will not be made except in exchange for the amount due.

Code

See " Cipher Code."

Coffee

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.