Syndicate Agreement

See "Syndicate."

S. & M. September and March; interest or dividend payments semi-annually, beginning with September.

T

The " ticker " abbreviation for " tenninal."

Tael

The " tael " is a weight as used in the Chinese money system. It is in no sense a monetary unit.1

A new monetary system, however, was introduced in China February 10, 1914; this will be found explained under the subject " Cash."

Tailer (Or Tailer On)

One who has but little capital or self-confidence, and who follows some one else's lead.

Take Up

A very common term used to denote that the purchaser of bonds, stocks, or whatever it may be, has paid for and obtained delivery of the same; i e. "taken up;" got rightful possession of.

Tale

" By tale;" i. e. by count. In transactions regarding metallic money, " by tale" is used to distinguish from "by weight." The former would have reference to the sum total of a given amount of gold coin, for instance, without any regard to the abrasion; whereas "by weight" would mean its actual value, abrasion deducted, and would naturally give a less total sum than as if reckoned " by tale."

Talent

" Talent bought the stock." Those very close in touch with financial affairs; members, for instance, of a stock exchange; bankers and brokers or "professional traders." (See " Traders.") The ordinary investor or speculator would not be included among the "talent."

Talon

In the case of a coupon bond, particularly one having no definite date of maturity, but issued in perpetuity, the supply of coupons attached to the same may become exhausted. Under such circumstances, there remains attached to the bond what is termed a " talon " which enables the holder to demand a fresh supply of coupons. This is an English term and custom.

Tape

See " Ticker."

Tape Price

The price of a security as indicated by the "tape." (See "Tape.") _

Tare

Tare is the weight of the vehicle, cask, or package in which a commodity is shipped; as in the case of a load of hay, the difference in weight between the total weight, including the cart, and the weight of the hay itself is the tare, and must be deducted from the total weight to ascertain the true weight of the hay.

Tax Certificates

See " Delinquent Tax Certificates."

Tax Exempt

See " Non-taxable Investments." Tax Free Investments. See " Non-taxable Investments." Tax Refund. Used in relation to an issue of securities where an agreement exists that certain taxes, which the holder may be compelled to pay, will be refunded.

To illustrate: In the issue of convertible notes put out by the United Gas & Electric Corporation, it was provided that annual taxes paid in Massachusetts would be refunded through the First National Bank, of Boston, in accordance with and subject to the terms and provisions of an agreement executed between the corporation and the bank.