Rutland

Rutland Railroad Company.

1 This exchange ceased to exist Feb. 1, 1907, as the Philadelphia Clear-ing-house Association decided to abolish it and consolidate the two "exchanges" into one daily "exchange" at 10 o'clock.

2 Treasury Department Circular, October 1, 1905.

S

The sign for the English "shilling." The modern way of indicating shillings, however, is by an oblique line between the sums for shillings and pence; as, for instance, 5s. 4d. is written 5/4.

Sack

A sack of export flour contains 140 pounds. A sack of Rio coffee is estimated at 200 pounds and Java at 133 pounds.

Saddle

To force an undesirable security upon any one would be to "saddle" him with it.

Sag

"The market is sagging." A small but general decline in prices. "The market did not break, it sagged." Think of a telegraph wire suspended from two poles, covered with a frozen mass of ice and sleet; sagging is one thing, breaking is more serious.

Saint Paul

Chicago, Milwaukee, and St. Paul Ry. Co.

Sale to Arrive. A sale dependent upon the safe arrival of goods in transit.

Salt

A mine is "salted" when good ore is placed there artificially for the purpose of. deceiving.

Sanitary District Bonds

Separate municipalities, not territorially the same as the cities which they embrace, but, usually, greater in extent, have at times been formed for the purpose of securing pure water supplies, removal of sewage, etc. The Sanitary District of Chicago is the most notable example. It has its own officials and creates its own indebtedness, for which all the taxable property therein is held for payment. It is 358 square miles in extent; embraces all of Chicago and considerable adjacent territory, and is legally permitted an indebtedness of not exceeding 5% of the assessed valuation. The well-known " Chicago Drainage Canal " is the effort of this district.

Santa Fe". The Atchison, Topeka & Santa Fe Railway Co. Also Santa Fe Gold & Copper Mining Co.

Satisfied

When an indebtedness or obligation is paid, it is said to be "satisfied."

Savings Bank Bonds

As this term is used among financiers, bonds which certain Eastern States that have passed the most conservative legislation in relation to bonds in which the savings banks therein may invest, as New York and Massachusetts, are commonly understood. The term may, however, be used to refer to bonds which the savings banks of any State may buy provided that State has passed any restrictive legislation whatsoever in relation thereto.

Savings Banks with Capital Stock. Explained under "Mutual Savings Bank."