A bond secured by a mortgage upon a property which already has two other mortgages existing upon it and which mortgages would have prior claims upon the property and its earnings. (See " Third Mortgage.")
See " Set of Exchange."
(See "Preferred Stock.") Such an issue as this is rare, but it would simply rank after the first and second preferred stocks.
Same as " Note Teller."
See next subject.
Thirty-Day Bill. A bill of exchange (see "Exchange") may be drawn payable in thirty days after date, but it is more customary to draw them payable thirty days " after sight; " that is, after presentation. If in the latter form, and drawn on England, roughly speaking, ten days may be reckoned as the time elapsed after drawing before presentation, and as three days' grace is allowed there on time bills, it would make a total of approximately forty-three days before actual maturity.
Bills of this kind are called " Thirties."
See " Lombard Street."
The Cleveland, Cincinnati, Chicago & St. Louis Railway Co. is often referred to in this manner. " Three C's " is also used to refer to the three large products of the earth - copper, corn, and cotton.
Three-Dollar Gold Pieces. The coinage of these was discontinued under Act of September 26, 1890. They contain 69.66 grains of fine gold and 7.74 grains of alloy. The total coinage was only 539,792 pieces.
The Indiana, Illinois & Iowa Railroad Co., now a part of the New York Central system, used to be, and is now, frequently referred to as the " Three I's."
Three Months' Bills. These do not differ in any way from "ninety-day bills " (to which subject refer) except wherein the actual months covered might total in days more or less than ninety days; that is to say, a " three months' bill " dated the first day of November, would cover 30 days in that month, 3? days in December, and 31 days in January, making a total of 92 days. With this understood, everything else mentioned under " Ninety-day Bills" applies here. It is very much more the custom to draw "ninety-day bills" than "three months' bills."
Three-Name Paper. A note for which three parties are each responsible for payment; a note bearing three signatures, or a combination of three signatures and indorsements, whereby three parties are each responsible for its payment.