A small coin of Great Britain, equal to about one cent United States money.


A gold coin of Great Britain, equal in value to 10 shillings, or one-half the English " pound sterling," and to $2.433 United States money.


Shares with a par value of $50: two shares to equal one with a par value of $100. Pennsylvania R. R. Co., Reading Company, etc. (See " Full Stock.")

Hammond's Time

"At fourteen minutes after two p. m., (on the New York Stock Exchange) the words Hammond's Time used to be printed on the tape, and, shortly after, the lever of the instrument gave fifteen distinct beats.

"At the end of fifteen beats it is 2h. 15m. p. m., and the close of the recognized settlement time for transactions of the Exchange."1

This is frequently referred to as "time," but the full name is derived from a watchmaker by the name of Hammond who furnishes official time to the Stock Exchange.

Hard Coalers

Railroad companies, the earnings of which are very largely dependent upon the transportation of anthracite coal, including such roads as the Delaware & Hudson, the Delaware, Lackawanna & Western, the Lehigh Valley, etc.


To advance in price. "The market hardened; " a general advance in prices.

Hard Money

Metallic money; not paper money.

Hard Spot in the Market. Good strength caused by strong and active buying.

Harriman Interests (Or Lines)

E. H. Harriman practically controlled the Union Pacific, Southern Pacific, and the San Pedro, Los Angeles and Salt Lake R. R. Companies. He had a very large influence, amounting virtually to control, in the Illinois Central, the Central of Georgia, Baltimore & Ohio, and the St. Joseph and Grand Island Railway Companies. Besides all these, he had a large influence in such roads as the Atchison, Topeka & Santa Fe, the New York Central & Hudson River, and the Chicago & Alton Railway Companies.

Hawaiian Island Bonds

Issued under authority of Congress, but the obligation of the Hawaiian Islands, and not of the United States Government. The Congress has exempted from taxation the "Fire Claim 4's," so-called, which were issued to reimburse the owners of property destroyed at the time of the bubonic plague at Hawaii. The question has been raised, however, whether the rest of the Hawaiian issues are tax-exempt in the United States. A legal opinion has been rendered which indicates that such is probably the case.

Hawley Lines (Or Roads)

What were commonly known as the "Hawley Lines" include the following: Chesapeake and Ohio; Chicago, Cincinnati and Louisville; Chicago and Alton; Des Moines and Fort Dodge; Hocking Valley; Iowa Central; Minneapolis and St. Louis; Missouri, Kansas and Texas; Toledo and Ohio Central; Toledo, St. Louis and Western.

1 It is now printed "Delivery Time."