Quarterly Interest

Interest payable four times a year. If interest on a bond is payable January 1st, the three next corresponding quarterly periods would be April, July, and October 1st. The interest on all United States Government bonds is payable quarterly, but not on the majority of investments.

Quarterly Settlement-days. In the United States, January, April, July, and October 1st. Upon these days, the majority of interest payments fall due, as well as many bonds and other obligations, necessitating large disbursements of money.

Quarterly Settlements

See " Quarterly Disbursements."

Quarter Stock

Shares of the par value of $25 each. Many copper stocks have such a face value.

Quasi-Municipal

A municipal corporation established by law, without the franchises of such a corporation generally.

The laws of the State of Maine specifically refer to a "quasi-municipal" corporation in regulating the investments which a savings bank may make. Mr. F. E. Timberlake, ex-bank examiner of that State, interprets a "quasi-municipal corporation" as follows: "The legislature intended by that term to cover municipal corporations created for a special purpose, not having general municipal powers like towns and cities. It applies to Water Districts, like Augusta Water District, and Gardiner Water District."

Queen And Crescent Route

The Cincinnati, New Orleans and Texas Pacific Railway Company. (Lessee of the Cincinnati Southern Railway Company.)

Quick Assets

Cash and anything that can be readily converted into cash without the necessity of taking a prohibitive loss. Government bonds are always considered a "quick asset"; one of the quickest of assets in this country, as in the most distressing money market conditions they are supposed to be convertible into cash at a less sacrifice than any other security under like conditions. Also applies to accounts and notes receivable and to inventories, the latter including raw materials, stock in process and finished goods.

Quick Shipment

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

Quid

In Great Britain this is a slang term for a " pound sterling."

Quincy

Quincy Mining Co. (Copper.)

Quit-Claim Deed. See " Deed."

Qu

Jan. (or Qu. Feb., etc.). Quarterly beginning with January, or with whatever month is named.

Quotations

Prices at which commodities or securities are sold, or prices offered or bid for the same, or prices at which they are offered for sale. In the case of stock exchange " quotations" it means the prices at which securities are sold on the stock exchange, or the "bid" or "asked" price of the same. "Quotations" of stock exchange transactions are reported in such abbreviated form, that a few suggestions in that regard may not come amiss. All stocks are "common stocks " when not otherwise designated. "U. P." means Union Pacific Railway common stock; if the "preferred" is meant, "U. P. Pref." will be the reading. "2 Sugar 120" is equivalent to 200 shares American Sugar Refining Company common stock at $120 per share.