Spot Cash

Immediate cash; cash at once; cash on the spot.

Spot Grain

Grain for immediate delivery.

Spotted

The market was "spotted;" meaning that prices were advancing at times, and declining at times, or that certain securities were advancing, and others declining, but the majority remaining about stationary in price.

Spotty

The same thing as " spotted."

Spread

(Read "Straddle.") A "spread" differs from a "straddle" only in that the "put" and "call" prices are not alike. A "spread" on Illinois Central might read:

"For value received, the bearer may deliver to me 100 shares of Illinois Central at 124 or call upon me for 100 shares of Illinois Central at 126 at any time within thirty days from date."

Then would follow the time of its expiration and the signature.

Sprinkler Insurance

By this insurance the assured is guaranteed against direct loss or damage caused by leakage of water from the sprinkler system. Damage to the sprinkler equipment itself is not covered. The tank is part of the sprinkler system. If a tank bursts and the falling water crushes in the roof of an insured building, the roof is covered by the insurance, but the tank is not. Where heads, fittings, valves, or pipes belonging to the sprinkler system break and cause water damage, the water damage is covered, but the apparatus and any labour necessary to replace same are not.

Spurt

A sudden and considerable rise in prices; not a jump of several "points " at a time, but by more even degrees. A spurt of water does not suddenly appear at the end of the nozzle and the next instant a hundred feet away, but has to cover all the intervening space to get there.

Squeegee Agreement

An agreement to take back a security within a stated time at a price representing a definitely limited loss to the one who made the purchase. A transaction of this kind is opposed to the stock exchange rules.

Squeeze

In general, a squeezing out process; by which many are compelled to part with something, as securities or money, in order to protect their interests.

When those who have been selling short (see "Selling Short ") are forced to buy at losing prices in order to fulfil their contracts.

" Money Squeeze; " interest rates high; difficult to borrow.

Sta

The " ticker " abbreviation for "stamped."

Stagnation

Practically no business being transacted; business extremely quiet.

Stale Check

One which has not been presented for payment for a considerable or unnecessarily long time, after the date upon which it was drawn. A bank may decline to pay such a check, on the supposition that it may have been lost, and a new one issued in its place, or the liability discharged in some other way.