Tax Relief Bond

Bonds issued in anticipation of payment of taxes; that is, a municipality needs money for some purpose immediately, the expenses of which would ordinarily be taken care of by taxation, the taxes, however, are being paid slowly and not coming in fast enough to furnish funds for the purpose needed. Consequently, bonds having a short time to run are issued, but more frequently short time notes are sold for this purpose.

Technical

This is used in reference to an artificial condition of the market, which has been brought about usually by "manipulating" or over-speculation; an unnatural level of prices, which cannot last.

Telegraphic Transfers

See next subject.

Telegraphic Transfers Of Money

A method of obtaining immediate use of money at a distant point in the same country, and effected in the same general way as " cable transfers." The telegraph company charges a certain fee according to the sum transferred, plus the charge for the telegram.

Teller

The one who receives the money at a bank, when taken for deposit, is called the " receiving teller." The one who pays out money, as demanded by the depositors, is called the " paying teller."

Temporary Receipts

Corporations issuing bonds or other securities may wish to obtain money from the sale of the same before the actual securities are ready for delivery.

"Temporary receipts," so called, are frequently issued at such times to the purchasers, to be exchanged later for the securities themselves.

Tender

See " Bid.'

Tenn

Coal. Tennessee Coal, Iron and Railroad Co.

Tennessee

Tennessee Copper Co. There is also the Tennessee Coal, Iron & Railroad Co., generally known as " Tennessee Coal and Iron."

Ten-Twenties

Bonds due in twenty years, but subject to redemption after ten years from date of issue, at the pleasure of the issuer.

Term Deposit

Same as " Time Deposit."

Term Insurance

A life insurance policy of this class is one that is taken out for a stated number of years; the face of the policy to be paid only in case of death before the expiration of the term. A term policy has no value after its expiration.

Term Of Discount

The length of time for which a note is "discounted," to which subject refer.

Terms Of Sale

Conditions, other than price, named by the seller; or the price only; or both.

Thaler

The " thaler " of Germany is an old silver coin of the value of three marks or about seventy-two cents in our money. Until recently these coins had full value as legal tender; they are now being rapidly recoined into other pieces in the German monetary system.

The Papers

See "Documents," meaning the same.