Continental

All Europe, exclusive of the British and other Isles.

Continental paper money, issued by authority of the Continental Congress during the Revolutionary War, and used to defray the greater part of the expenses of that war. An enormous amount of it was put out, the sum total being about $360,000,000. The market became so glutted with it that it depreciated tremendously, and finally became almost worthless, one instance being reported where $1,000 in this currency was given in exchange for $1.00 in silver. This explains our common expression " don't care a continental."

Continental Bill

A " bill of exchange" payable on the continental part of Europe. This term is used to distinguish such from those payable in England, which are termed " sterling bills."

Continental Bourses

The European stock exchanges other than those in the British Isles. (Also read " Bourse.")

Continental Markets

Berlin, Antwerp, and Paris.

Contingent Fund

Money set aside to be drawn upon only in case of certain emergencies.

Contingent Profit

A conditional profit. A lawyer occasionally conducts a case upon a "contingent profit " or fee, his payment for services being entirely dependent upon his winning the case.

Contingent Rights Stock

An English term. This stock shares dividends on the " ordinary stock" (see "Preferred Shares ") after the latter has received a certain rate.

Continuation Day

The first of the "Fortnightly Settling-days. (See that subject and also " Contango Day.") For many securities the second " settling-day " is the " continuation day."

Continued Bond

Same as " extended bond."

Contract Grade

Chicago Board of Trade term indicating the grade which is required on contracts for future delivery.

Control

See " Controlling Interest."

Controller

See "Comptroller."

Controlling Interest

When one person, or a number together for their mutual benefit, obtain, by ownership or by proxies (see " Proxy "), their right to cast the votes for a majority of the shares of stock in any corporation, such person or persons are said to have a " controlling interest."

Conv

Convertible.

Convertible Debenture

The only difference between a "convertible debenture" and a "convertible bond is as to the way the loan is secured, which will be clearly understood by turning to the subject " Debenture Bond." A good illustration of such an issue is that of the American Telephone and Telegraph Co., " Convertible Debenture" 4's, to which there is attached the lottery feature of convertibility into stock after three years and before the expiration of twelve years at stipulated prices.

Convertible Income Bonds

See " Income Bonds"