Temporary Certificates

Same as "Temporary Receipts."

Terminal Receipt

Same as "Warehouse Receipt." (See that subject.)

Time Bargains

(First understand "For the Account.") Transactions for periods beyond the "fort-nightly settling-days" are so termed in London. Bargains of this class are of a speculative nature.

Time Deposits

Under the "Federal Reserve Act," these "comprise all deposits payable after 30 days and all savings accounts and certificates of deposit which are subject to not less than 30 days' notice before payment, and all postal savings deposits."

Tout

The vernacular of the London Stock Exchange furnishes different names for men, not members of the exchange, who introduce clients to brokers. Such a person is variously called a "runner," "remisier," or, copying the language of the race course, "tout."

Men of this class often have valuable connections with the outside public, which enables them to bring in a goodly amount of business, and an arrangement is usually entered into whereby the broker and "runner" share the gross profits and losses of the business introduced. The arrangements are somewhat fast and loose, and vary according to the circumstances.

Trade Acceptance

As defined by the Federal Reserve Act, "a bill of exchange * * * drawn to order, having a definite maturity and payable in dollars in the United States, the obligation to pay which has been accepted by an acknowledgment, written or stamped, and signed, across the face of the instrument by the company, firm, corporation, or person upon whom it is drawn; such agreement to be to the effect that the acceptor will pay at maturity, according to its tenor, such draft or bill without qualifying conditions." (See "Acceptance.")

Transfer Deed

See "Deed of Transfer."

Transfer Tax

See "Taxes on Stock Transfers."

Trunks

Used in London to designate the ordinary stock of the Grand Trunk Rwy. of Canada.

Two The London Stock Exchange member abbreviates 2,000 in stock, as "two," 3,000, as "three," etc.

Uneven

See " Contango."

Utter

To issue; to give a check or a note is to "utter" it.

Vestas

Used in London to designate the deferred stock of the Railway Investment Co.

Victory Notes

The fifth issue of United States Government bonds to raise funds for the World War. Called notes because of their short maturity.

Waiters

Uniformed officials, who occupy positions by the various doors of the London Stock Exchange, and who call out the names of the firms whose representatives are wanted by messengers, visitors, or for telegrams, etc.

Westerns

A London term for the ordinary stock of the Great Western Rwy.