The person (firm or corporation) who pays a draft, note, or similar paper.
Same as a " Bill for Payment."
See " Stop Payment."
A security is " pegged " when one or more persons so control the buying or selling that they are able to prevent the prices rising or falling below a certain fixed point. The Abc of Wall Street says: "A stationary market, neither declining nor advancing, and held by buying or selling orders, is said to be pegged."
The plural of " penny."
Certain corporations directly or indirectly in the control - or partial control - of the Pennsylvania R. R. Co., or its subsidiary companies, some of which are the Long Island, the Norfolk & Western, the Pittsburg, Cincinnati, Chicago, & St. Louis, and the Cleveland & Pittsburg R. R. Companies. The Pennsylvania R. R. Co. has already sold its Baltimore & Ohio holdings,
The Latin for by, as "per annum," meaning "by the year," etc.
See "Debt Per Capita."
(Per Centum). Meaning, literally, by the hundred, but used, in practice, as the equivalent of "hundredth." 6% means six one-hundredths or $6.00 on the $100.
A dividend of 1% would amount to $1.00 upon a stock of the par value of $100, but where the par value is only $50, a 1% dividend amounts to but 50c. and, likewise, it would be but 25c. where the par value is $25. In this latter case, for instance, a 6% dividend would call for but $1.50.
Grade. See "Grade."
Per pro White & Co.,
Charles Black or
James White & Co., per pro Charles Black, is an example. The latter is the more correct method of signing, although the former is in more common use among merchants. This phrase is sometimes still further abbreviated as " p. p."
A signature of this kind is considered of itself an announcement of limited authority, a statement of the limitations of which will be furnished on request. Persons accepting instruments signed in this manner without investigating the authority of the agent signing them do so at the risk of afterwards discovering that the agent has exceeded his authority.1