"The market was heavy on profit taking;" meaning that prices had advanced sufficiently to tempt people to sell their securities; enough to cause a decline in prices, for, in order to find a market for the amount of securities offered, lower prices had to be made to induce purchasing. On account of this lowering in prices the market is called " Heavy."


To buy or sell in order to lessen an anticipated loss. An illustration would be in the case of one's having purchased 1,000 shares of stock in anticipation of a rise, instead of which the stock actually declines, with indications of still greater decline. The owner of the thousand shares of stock sells all his holdings and then goes " short " (see " Selling Short ") another thousand shares, hoping thereby to profit sufficiently to make up his loss already sustained and possibly something besides. Also, to buy one stock and sell short another at the same time.

High Finance

A typical example of what is understood by this term would be: such jugglery with other people's money as has been disclosed in the life insurance company scandals.

A writer, referring to a prominent man who has become rich through rather unsavoury methods, says: " After his first coup he forsakes for ever the cold arithmetic of commerce for the rule of guess, dream, hope, and 'i will,' which constitute the mathematics of ' high finance.' "

Hill Roads

James G. Hill had a predominating influence in the management of the Gt. Northern Ry. Co., and the Northern Pacific Ry. Co. These two control the Chicago, Burlington & Quincy R. R., and the latter controls the Colorado & Southern Ry. Co.

Hoarding Money

To hide it in secret places.

Hocking Valley

The Hocking Valley Railway Co. Successor to the Columbus, Hocking Valley & Toledo Railway Co.

Home Rails

Used in Great Britain to denote securities of railways in the British Isles, but, in general, would indicate the railway securities of the country wherein the term is used.


To pay. A draft is "honoured" when it is paid upon presentation, if it is a "sight draft," and " honoured " when "accepted" if a " time draft."

Hung Up

To own anything undesirable; something which either cannot be disposed of at all, or without loss.

Hydro-Electric Securities. See "Power Company Bonds."


To place on deposit collateral security; stocks, bonds, etc., as a pledge for a loan.

I. C. C

Interstate Commerce Commission.


American Ice Securities Co.

Illinois Central

Illinois Central R. R. Co.

Immediate Shipment

A Chicago Board of Trade term, calling for shipment within three business days.