Foreign Rails

The English term for all foreign railroad securities, although the London stock broker is usually a little more explicit, using the term " Cuban Rails " for railroad securities of Cuba; " American Rails " for our own; and so on.

Foreign Traveler's Letter of Credit. See " Letter of Credit."

Forfeit

A deposit made, for instance, by John Smith to insure his fulfilling his part of a contract entered into with Charles Jones; this deposit to become the property of Jones in case of Smith's failing to carry out his agreement. (See also "Sealed Bid.")

For Money

For cash. This will be understood by referring to "Consols for Money."

For the Account. An English term indicating a purchase of securities for delivery on an "account-day," as the " fortnightly settling-days," to which refer. A security bought for immediate delivery is known as "for money."

For the Opening. The sale of a stock for delivery after the opening of a company's transfer books. (See "Books Close.") This must not be confused with "at the opening," which is explained under that heading.

Forward Movement

An advance in prices.

Founder's Shares

Much the same as " promoter's shares," but as this is more particularly an English term, and they are now seldom, if ever, issued, no more space need be given the subject.

Fourpence, Fourpenny Piece, or Fourpenny Bit. A silver coin of Great Britain, equal in value to about 8 cents United States money. Also called "groat" and "joe"

Four Ports

New York, Boston, Philadelphia, and Baltimore.

Fractional Currency

Money of lesser denominations than $1. Coins are all we now have in general use of this kind of money, but not so formerly, as is explained under " Suspension of Specie Payment."

Fractional Lots

The usual units for transactions upon the stock exchanges are based upon 100 shares of stock or $10,000, par value, in bonds. Transactions for lesser amounts are known as "fractional lots," or "odd lots." On many exchanges lesser amounts, say 50 shares of stock or $5,000, par value, in bonds, are the units.

Franc Loan

An issue of bonds, or similar securities, the principal and interest of which are payable in " francs," i.e. French money.

Francs

See "Franc."

Franklin

Franklin Mining Co. (Copper.)

Fraternal Insurance

See "Assessment and Fraternal Insurance."

Free Credit

See "Open Account."

Free Silver

This term as commonly understood in reference to the coinage question, means the right on the part of any person to deposit "standard silver bullion" at any of the United States mints in any amount, and have the same coined at the Government's expense; the depositor receiving in return for his bullion silver coins containing in total the same weight of fine silver as brought by the depositor.