Delivery Day

Among those trading in grain, for future delivery, the first trading or business day of the month is so known. The "seller's option" feature, however, permits of delivery on any business day of the month for which the sale was made. All contracts for future delivery are "seller's option " (see that subject).

Delivery Price

See " Stock Exchange Clearing-house."

Demand Bills

Bills of exchange (see " Exchange ") payable on demand; on presentation. Practically the same as a "sight bill." For exception see that subject.

Demand Collateral Paper

See " Collateral."

Demand Draft

See " Draft."

Demand Exchange

See " Demand Bills."

Demand Sterling

Demand exchange on London. (See "Exchange.")

Demurrage

When any vehicle of transportation, such as a car or vessel, is detained beyond the time allowed, either for loading or unloading, a per diem charge called "demurrage " is made.

Denationalizing the Currency. If the Government should withdraw its issue of "greenbacks" and place the issuing of paper money more in the control of the banks, that would be a step toward "denationalizing the "currency."

Denomination

The face value of a bond. Most bonds are issued in the " denomination" of $1,000, although the $500 and $100 "denominations" are not uncommon, and bonds of almost every conceivable "denomination" have been placed upon the market from 50 cents up to $1,000 and occasionally for a greater sum than the last named; especially is this so in the case of registered bonds. Our Government bonds are sometimes issued in $50,000 pieces.

Deposit Book

See " Bank-book."

Deposit - Certificate of. See " Certificate of Deposit."

Depositor

One who places money in a bank; that is, makes a deposit, is the usual meaning in banking affairs; but a depositor may be one who commits securities, valuable papers, or anything, to the care of another.

Deposit Ticket Or Slip

Blanks provided by banks and filled out by those wishing to make deposits subject to check. The depositor writes in his name, date, amount of deposit; giving a list of the kind of money, checks, etc., deposited. This is handed, or sent, to the bank with the deposit and bank-book.

Depreciated Currency

When it takes more than a like amount, face value, of any kind of money to have the same purchasing power as gold coin, the former is a " depreciated currency." The paper money of the Confederate States had greatly depreciated towards the end of the Civil War.

Derogation

As used in relation to securities, it means a subtraction from or alteration of a contract for the sale of the same.

Destroyed Securities

See "Care of Securities" and "Bond of Indemnity."