Gold or silver bars containing 99% of pure metal are generally so considered.
Gold which is free from impurities; pure. The mint value in England of an ounce of " fine gold" is 84s. 11.45d, which equals our own mint price of $20,672.
See " Standard of Weight and Fineness."
Strong; tending upwards; not declining. The stock market is said to be " firm " when there is no tendency towards a decline in prices; a condition of stability existing. Money is "firm" when interest rates for loans are higher than the average. Prices are "firm" when inclined to rise, or at least, remaining stationary. (See " Offered Firm.")
A partnership of two or more persons for the carrying on of any business, as distinguished from an incorporated company. An agreement, generally to exist for a specified time, is drawn up and signed by the several partners, setting forth the rights of each. This is called a "partnership agreement." (See also "Special Partner.")
See " Offered Firm."
See "First Consolidated Mortgage."
It might be well to read the matter under " First Refunding Mortgage Bond," by an understanding of which a " first and refunding issue " may be readily comprehended. An issue such as the last mentioned should be one which has extended a genuine first mortgage upon the whole property which it covers, but it may be such an issue as described in the case of the Old Colony Street Railway bonds under the subject of " First Refunding Mortgage Bond." The and, therefore, inserted between "first" and "refunding" leaves a very uncertain meaning as to what such an issue really is, and it is essential that an investor should ascertain exactly the terms of the mortgage itself.
Read " Consolidated Mortgage Bond." A "first consolidated mortgage " issue would generally indicate what would be literally understood by such combination of words; viz.: a consolidated mortgage issue and the first one of such placed upon the property. But a "first and consolidated mortgage " would be quite a different thing. It would indicate not only a " consolidated mortgage " issue upon the property, but a " first mortgage " upon some parts; that is, upon such parts as have not been previously mortgaged.