Middle Price - Mint Remedy

Description

This section is from the book "Money And Investments", by Montgomery Rollins. Also available from Amazon: Money and Investments.

Middle Price - Mint Remedy

Middle Price

This is used in Great Britain, and will be understood by reading "jobber," as it is the price half way between the buying and selling prices which he makes on a security. (See " London Stock Exchange Transactions.")

Midland (Or Midland Route)

In America " Midland" usually refers to the Colorado Midland Railway, but abroad the Midland Railway of Great Britain is understood.

Milking

To squeeze all possible profits out of a transaction; also, by "manipulation," to profit at the expense of others.

Milling

The operation of putting the series of small cross ridges and furrows on the edge of a coin,1 and done to prevent cutting away any of the edge.

1 Written before civil strife had so unsettled Mexico. No proper revision can be attempted until peace once more reigns in that stricken country.

Mill Paper

See " Corporation Paper."

Milreis

(Commonly called "reis.") The monetary unit of Brazil equal to $.546 and of Portugal equal to $1.08 United States money.

Mining Contango Day

See " Fortnightly Settling-days."

Mining Securities

See Chapter II at the beginning of the book.

Minor Coins

Coins used to make small change, struck from metals other than gold or silver, and in small denominations. Our five cent nickel and one cent pieces are examples.

Mint

1 One writer defines a "mint" as "giving official stamp and guarantee" to a government's coin, or a coin factory. The "mint" receives gold and silver bullion for coinage and performs other services for the people in connection therewith, as is more fully explained under "Assay Office." Coinage mints are now located in Philadelphia, San Francisco, New Orleans, and Denver.

The first Mint in the world was established in the City of Mexico in 1537.

Mint Mark

Our coins, except those struck at Philadelphia, bear a mark to show at what mint they were coined, as "S" for San Francisco.

Mint Office Checks

Checks drawn on the Assistant Treasurer at New York by the Superintendents of the United States Mint at San Francisco and the Assay Office at New York, and the assayers in charge of the Assay Offices of the United States at Seattle, Helena, and Boise, respectively, in payment for gold bullion deposited.

Large depositors at the offices named generally prefer to receive payment by check instead of in coin.

Mint Par

The "mint par" of an English "pound sterling," for illustration, as expressed in our system of coinage, is its intrinsic worth, or actual equivalent, in the gold coins of this country; i. e. $4,866 1/2.