The charge made by any banker or broker, for buying or selling securities for some one else; the banker's, broker's, or promoter's charge for services. When an agent or broker sells or buys a security for another, acting as a " middleman," he receives a commission for his services. In other words, he is "commissioned" to accomplish a certain act. In the case of a merchant who owns goods and sells the same to his customers, he makes a " profit," not a "commission; " the distinction between a "profit " and a "commission " being, that in the case of the former there is no "middleman;" that is, the owner sells directly to the purchaser; the difference between the buying and selling price being the "profit." In the case of a "commission" when securities or commodities are passed from the owner, through an agent or broker, to a third party - the buyer - the agent or broker receives a com-pensation called a " commission."

Stock Exchange Rules for Commission Charges:

Commissions shall be calculated as follows (except as provided in Subdivs. (c) and (d) of this Sec):

On Boston Stock Exchange

Bonds, on the par value.........................

1/8 per cent

Government bonds are exempt from the regular rates.

Bank Stock and Trust Company Stocks, pershare..............

... 25 cents

Insurance Stocks, per share...............................

... 25 cents

Textile Manufacturing Stocks and Real Estate Trust Stocks,

1/4 per cent on par value

When the above stocks are selling at double their par, the commission on them shall be doubled.

All other stocks selling at $300 or over per share............

... 50 cents

Selling below $300, or at $125 or more per share.................

20 cents...................

Selling below $125, or at $10 or more per share.................

15 cents...............

Selling below $10 and at $1 or more.......................

15 cents

Selling below $1 per share................

$1.50 per hundred shares

Minimum commission per transaction...................

.....$1.00

On New York Stock Exchange

On stocks selling below $10 per share..................

........7c. per share

On stocks selling at $10 or above but below $125..

15c. per share

On stocks selling at $125 per share or above.....

........20c. per share

On bonds..................................

.⅛ of 1 % of par value

Minimum commission.........................

$1.00 per transaction

On Chicago Stock Exchange

Bonds .....................

1% of par value

Stocks selling below $10 per share................

71/2 per share

Stocks selling at $10 per share and above but below $125

15c. per share

Stocks selling at $125 per share and above but below $300.

20c. per share

Stocks selling at $300 per share and above but below $500

50c. per share

Stocks selling at and above $500 per share............

$1.00 per share

Government bonds...........................1/16 of

1% of par value

Minimum commission $2, except on stocks below $10 per share