Line

"He carries a good line of-- stock;" "line" here meaning special kind. "Line " is also used to denote a certain amount of securities carried more or less continually as " a line of 10,000 shares." A " line " of road indicates a railroad.

11 am indebted to Mr. Charles A. Conant for assistance in framing this definition.

Linseed Oil

American Linseed Co.

Liquid Assets

Money, or property of all kinds, which may be readily converted into money.1 (See " Quick Assets.")

Liquidated Damages

Damages fixed upon in advance by the parties to a contract as the amount which shall be recoverable upon a breach of the contract.

Liquidating Market

As commonly understood, a market in which a great many are selling securities; taking their profits, as it were, naturally resulting in declining prices. Or the "short interests" may be forced to "cover." Such a market is naturally the result of an excessive buying or "short selling."

Liquidation

This is used in two ways. In one case, it means the winding up of a business, the converting of its assets into cash, etc.; in the other, it is used in reference to the stock exchange when holders of stock are selling, converting the same into money.

"Liquidation of speculative accounts "indicates that those who were speculating decided to close out their accounts.

"Liquidation" in either of the above examples may be "voluntary" or "forced."

When a speculator who has been "long" sells out at a loss, he has "liquidated."

Liquid Resources

See " Liquid Assets."

Lira

An Italian silver coin equal in value to the French franc, or $.193 in United States money.

List

"Sold the list generally." An expression used in reference to general transactions in many different securities listed upon the stock exchange; a general selling of most listed securities rather than the transactions of the day being confined to a few different ones. The "list" refers to the securities which may be dealt in upon the stock exchange, and a list of which is established in each exchange.

The corresponding term for the London Stock Exchange is "official list."

Little

Common stock. (See second and third subjects below for examples.)

Little Board

The least important of two stock exchanges in any given city (see "Big Board " - Addenda).

Little Npr

(Nipper). Northern Pacific R. R. Co. common stock.

Little Union

Union Pacific Railway Co. common stock.

Live Assets

Investments upon which interest has been or is expected to be paid as due, or income-producing property. LL. The "ticker" abbreviation for "leased lines." Loading. A term used in life insurance company offices. A life insurance premium may be divided into three parts. The "actuary " figures what sum is necessary to cover the mortality losses and the amount necessary for " reserve." In addition to these two factors, must be considered the amount to cover the expenses of the company. This is the. "loading;" being that part of the premium which can properly be applied to the company's expenses.