A bond of which the payment of the principal is put off to some future date; the issue ordinarily not being replaced by other bonds, but the same ones left in the hands of investors; the security behind them remains the same. In such an event, it is customary to attach sufficient new coupons to cover the interest for the time extended, or new bonds, coupons and all, may be given in exchange for the old. Most issues of this nature are extended at a lesser rate of interest than borne by the original ones. " Extended bonds " have stamped or printed thereon the essential facts of the extension, and, if there are old coupons which can be used, they are stamped or printed so as to show the lesser rate of interest.

Companies may result from the hauling of freight and express by street railway companies, but that there is a possibility that even after such a limited competition might become established, the express carrying privilege on the street railways may be passed into the control of the larger express companies, the same way that they have absorbed it among the railroads.