Short Exchange

A "bill of exchange" running for not more than thirty days; also called "short-dated exchange," "short bill," and "short-dated bill."

Short Interest

(See "Selling Short.") This term refers to the quantity of transactions which have been made upon the "short" side. In other words, the volume of " short " sales, or all persons in a given market with such interests.

Short Rate

(As used in fire insurance.) A rate is based on a year's period of time. A "short rate" is the rate charged for periods less than one year, and is a percentage higher than if based on the "pro rata rate" which the time the policy is in force bears to the yearly period.

Short Ribs (Short Rib Middles). The unit of trading is 50,000 pound lots in bulk, or multiples thereof. The commission charged is 25 cents per 1,000 lbs. for purchase or sale, or purchase and sale. The usual "margin" required is one-half cent per pound.

Shorts

Those who have sold what they do not own, expecting to buy later at a lower price. (See " Selling Short.")

Short Side

Those who have thought it more profitable to "sell short" than to buy in anticipation of an advance in prices. (See "Selling Short.")

Short Stock

By reading "Selling Short," the heading of this paragraph should be readily understood.

Siberians

Securities of Siberia, particularly mining, which are handled in London. Siberia is rich in metals.

Sick Market

This is apt to follow one of great speculation, and is a time when brokers are in doubt as to what to do, and a condition of hesitancy prevails, with perhaps a sagging tendency.

Sight

As used in reference to commodities, such as cotton, etc., has the same meaning as "visible supply."

Sight Bill

This is the same as a "demand bill" (to which refer) except in States or countries where "grace " is allowed on a " sight bill," for in such cases a "sight bill " would naturally not be payable until the expiration of the days of grace.

Sight Draft

(First read "Draft.") A draft due and made payable upon presentation.

Sight Exchange

See " Sight Bill."

Signature of a Woman. See "Woman's Signature."

Signing by Mark. See " Mark Signature."

Sign In Blank

See "Assign in Blank."

Silent Partner

One not actively engaged in a business, and who is not generally known to be interested.

Silver

See following subjects relating to silver; also "Bar Silver."

Silver Act

Same as "Sherman Act."

Silver Treasury Certificates

The same as " Silver Certificates."

Simple Interest

Interest upon the principal sum only. An example will perhaps make this clear: Green loans Black $1,000 for six months at 5%, the interest amounting to, say, $25. If at the end of that time the interest is not paid, Green cannot collect additional interest on the $25 for such time thereafter as Black fails to make the payment. " Compound interest" would permit of charging interest on the $25; that is, interest upon interest. In savings bank accounts "compound interest" is usually allowed; that is, at the end of stated intervals, say twice a year, the interest accumulated upon the depositor's account is entered to his credit, increasing the principal sum that much, and the total sum goes on drawing interest.