Monetary unit of Costa Rica, equal to $0.465 United States money.
By an act of Congress, August 5, 1892, $2,501,052.50 of silver half dollars, of special design, were minted in recognition of the Chicago World's Fair. Weight, 192.9 grains; fineness, .900. Legal tender to the extent of $10.
By an act of Congress, March 3, 1893, $10,005.75 of silver twenty-five cent pieces, of special design, were minted in recognition of the Chicago World's Fair. Weight, 96.45; fineness, .900. Legal tender in amounts not exceeding $10.
Whenever we hear that securities are sold in the London market for the "coming out," it has reference to trading in the securities previous to the actual issue of the certificates themselves; i. e. the "coming out " of the certificates. "Coming out" must not be confused with "special settlement" (to which subject refer), and may-indicate that such a settlement is not immediately expected; furthermore, it is understood that a " special settlement " will not be granted until the certificates are actually issued. When transactions are for the "coming out," it is supposed that the certificates will be issued within a reasonable time.
In several States, such as Kentucky and Michigan, there are banks bearing the above title. They are much the same as an ordinary " bank of deposit." The intent is not so much for the deposit of savings, but more the accepting of deposits subject to check to facilitate an exchange of commodities; to be of benefit to the merchants and business men in general. They carry on the usual business of banking by discounting and negotiating notes, drafts, bills of exchange, and other evidences of debt; lending money on real and personal security, etc. Their functions are very similar to those of national banks, with the exception, among others, of course, that they do not issue bank notes.
In a broad sense, national banks, and, in fact, all "banks of deposit" are "commercial banks," but, as stated above, in certain communities there are those specially designated by that name.
A draft, accompanied by a " bill of lading" and a certificate of marine insurance, drawn by a seller in one country against a buyer in another, on account of goods sold the latter. These drafts are usually sold by the "drawer" to some banking house dealing in foreign exchange, as by so doing immediate use of the money can be obtained.
It is customary for the "drawer" of a " commercial bill " to make it payable to himself, and then indorse it as need may arise; unless he wishes to use the amount due him directly to offset a foreign debt of his own, in which event he may draw the bill in favour of the party abroad to whom the sum is due.
For the different kinds of "commercial bills" refer to " emand Bills" and "Time Bills."