Savings Institution

See " Savings Bank."

Sb

The " ticker " abbreviation for " small bonds."

Sc

The " ticker " abbreviation for " scrip."

. Scaled. When a corporation or municipality is unable to meet the principal of, or interest on, a debt, and is able to arrange a continuation of the debt at a lesser rate of interest, or an extension of the debt for a lesser principal sum, or both of the above, then the interest has been " scaled," or " the debt scaled," or both, as the case may be.

Scaled Buying Or Selling

Transactions of a security made in equal amounts upon a scale of prices; for instance, a "scaled buying " of Union Pacific may be buying lots of 100 shares each as the stock advances every two points.

Scalping

"Scalping points off the deal." This expression has reference to those taking advantage of what seems some hidden scheme in process of consummation, causing an advance in prices of certain securities. Although, not knowing just what the "deal" is, such persons take advantage of the rise in prices and buy and sell accordingly, making small profits. By this method, they are said to have been "scalping" profits. Making a quick and small profit is "scalping."

Scandinavian Union

Norway, Sweden, and Denmark have adopted the same monetary unit, viz.: a single gold standard with the krone, or crown, as the unit, which equals about 26.801 cents United States money.

School District Bonds

See " Board of Education."

School Savings Banks

A system adopted by many schools throughout the country to encourage saving among the pupils. The money saved by them during the week is collected by the teachers once a week at the opening of the school session, and turned over to the principal, he placing it in a savings bank in the name of each depositor.

1 Oot. 1, 1905, circular of the United States Mint.

The statistics for Massachusetts for October 31, 1916, are interesting as showing the growth of this system, which had been in force in that Commonwealth for 5 years:- There were 61 savings banks receiving such deposits. During the year, 649,055 deposit accounts were received, amounting to $233,843.59. From the inception of the system, 2,617,155 deposit accounts had been received, amounting to $903,846.93. The number of depositors who had accumulated savings sufficient to be entitled to receiving a savings bank deposit book amounted to 78,965.

Scrip

In financial transactions, a temporary paper or certificate is often issued, to be exchanged later for money or a permanent certificate, or whatever the " scrip " entitles the holder to receive. "Scrip" is frequently issued during a reorganization, or stock conversion, to represent fractions of shares of stock. When enough of these are presented to represent a whole share they may be exchanged for one. "Scrip" is a name applied to a paper entitling a person to the receipt of a dividend to be paid later, but in common usage such a paper is called a " due-bill." During the Civil War, and shortly following that time, fractional paper currency was issued called "scrip."