See "Electric Railway Securities."
Stricken from (the) List. (First read "Listed.") Any security which has previously been "listed" on a stock exchange, but which, for any reason, the authorities of the exchange decide shall be no longer dealt in thereon, is said to be " stricken from the list."
Those having money to loan demand high interest rates; loans may be difficult to obtain at any price; possibly money can be borrowed only by those of the highest credit, or upon the most conservative class of collateral security. "Stringency in the money market" generally acts as a deterrent to business; making it hard for the business world to obtain loans with which to conduct business, and the effect is apparent at once. " Stringency," though, may be more a stock exchange factor than general, and may only temporarily restrict speculation, and not extend to commerce at all. The New York financial institutions often artificially raise money rates, when speculation is too rampant, just to call a halt and thus prevent eventual disaster.
See " Cash."
A slang expression, meaning that the limit has been reached in an advancing market, or a prosperous condition of affairs. We may say that it " struck twelve today in Labrador Common," meaning that the general feeling prevailed that there were likely to be no higher quotations recorded on that stock than to-day's.
Other books with detachable leaves, such as books of stock certificates and the like, are arranged in a similar manner to check-books, and have "stubs" in printed form. In general, "stub" refers to that part which is retained in a book from which leaves are detached.
Another meaning for this word is illustrated in the case of the Northern Securities Corporation. After the stocks which this company held were distributed as explained under the subject "Holding Company," there was still left about 1% of the old company, and, as a consequence, to every holder of 100 shares of Northern Securities stock was delivered one share of this " stub stock," as it was called, the " stub stock " evidencing ownership in the remaining assets.
See " Subsidiary Company."