Price

1 The money equivalent or value of anything.

Prices

The financial writer, in order to avoid reiteration in referring to the advance or fall of prices, uses a countless number of words to denote such changes, among which are the following:

Denoting an advance: up, crossed, rise, forged ahead, upwards, boomed, sky-rocketed, jumped, put up, tended upward, bid up, uplift, improved, rally, move forward.

Denoting a fall: reversion, set back, lost, fell back, got down, declined, fell, dropped, slid off, slid down, depressed, worked back, worked off, off, yielded, reacted, eased, eased off, softened, shaded, retreated, settled, dipped, tumbled.

Primary Points

Large Western cities such as Chicago, Minneapolis, etc., where grain is received directly from the country districts.

Primary Receipts

The aggregate receipts of grain each day at all "primary points."

Primary Shipments

The aggregate daily grain shipments from all primary points" to the points of consumption.

1 Chevalier says: " The price of a certain thing is its value in relation to a substance specially designated, that is to say, to the material of which money is made. Thus, whilst in ordinary language we often confound these two words, value and price, and use them as synonymous terms, they have in reality a distinct meaning. Both have a relative sense; but value is a more general and indeterminate expression, or to use a better word, more vague; price is more special, and has a meaning perfectly precise."

Prime

First class; good.

Prime Investments

Those which are considered sound, conservative, and safe.

Principal

The principal of a bond, or any other security, is its face value; that is, the amount regardless of interest or premium, which the investor is entitled to receive at the maturity of the obligation; the sum on which the charge for interest is reckoned. "Par value" denotes the "principal" of a share of stock.

Also the customer of a broker. (Read footnote to "Income.")

Prior Lien

See " Lien."

Prior Lien Bonds

If a bond bearing this title is honestly what the name would indicate it to be, it should take precedence over any other mortgages (or bonds) against the property; that is, it should technically be prior to any other indebtedness. The juggling with security names, with the evident intent of misleading the investor, however, has resulted in "prior lien bonds" being issued which may be prior in their rights to some other indebtedness of the company, but an investigation shows that there are other mortgages prior to the one in question. Therefore, it behoves one in purchasing a "prior lien bond" to ascertain just exactly what its claim is upon the property.