The one to whom an estate goes after a certain estate is determined.
This is a variation allowed to the English mint from the specified standard of weight and fineness. As an example, the standard of fineness of the English sovereign is ll-12th fine gold and l-12th alloy; with a total weight of 123.27447 imperial grains. A variation from this is allowed of .20 imperial grains. That is, the weight of fine gold in the English sovereign must not vary more than
2-10th of a grain from ll-12th of the total weight above given.
Remedy of the Mint. See last subject.
See "Shipment of Money."
A "renewal of a loan" is to extend it after it matures.
Usually the Government bonds of France. The total debt of France amounted, in 1905, to $5 878,822,695, of which $5,005,246,780 was held principally by the industrial classes.1 It was the largest of existing debts, with Russia next.
Rearrangement of the financial plan or capitalization of a corporation which has been unable to meet its obligations at maturity, so that interest and dividends may be earned and paid. New management may be needed and possible changes in the physical condition of the property. (See "Readjustment.")
By reading the last subject it will be understood that the working out of a new system of capitalization for a corporation in financial difficulties must be placed in the hands of some persons competent to deal with the same. It is the custom for the security holders to select a number of men for this purpose, which are known as the "reorganization committee," and who are often given broad powers, the securities being deposited with some trust company under a plan of reorganization, which may be called a bondholders' or stockholders' agreement, or designated by some such title.
Explained under " Real Money."
To refuse to pay a debt; to dishonour one's obligation or promise.
A bank located in either a "central reserve city" or a "reserve city," which, with the approval of the Comptroller of the Currency, may be selected as a depository in which banks in other cities may keep a portion of their " reserve."
Banks in "central reserve cities" may act as "reserve agents" for banks located in either "reserve" or "undesignated cities"; banks located in "reserve cities" only for those in " undesignated cities." (Refer to the subjects in quotations.)