The usual trading unit is in contract lots of 5,000 bushels. The commission charges of the Chicago Board of Trade for the purchase, or for the sale, or for the purchase and sale, are at the rate of $7.50 per 5,000 bushels or multiples thereof, and $2.50 per 1,000 bushels or multiples thereof, in lots of less than 5,000 bushels.
See " Pit."
Sales of securities made prior to their being issued - especially when some doubt exists as to when and how they will be issued - are traded in with the condition attached "when and as issued."
When, as, and if Issued. The same as the preceding, with the additional condition of " if issued."
The first trading in this country in securities at the time unissued occurred in connection with a sale of United States 4% bonds in 1895.
A sale made of a new security conditional upon an uncertain date as to its issuance. (See last two subjects.)
W. I. When issued.
"Wide from the market: " a price one or two per cent, above, or below, the prevailing price. " Wide " means far apart, or away from. A bid of 75 and a simultaneous offer of the same security at 79 would be a " wide " quotation.
Widener-Elkins Interests. Corporations in which the families of (in Philadelphia, Pa.) Peter A. B. Widener and Wm. L. Elkins have a partial or controlling interest; such as the United Gas Improvement Co., the former Metropolitan Street Railway Co. of New York, Public Service Corporation of New Jersey, Rhode Island Securities Co., and the Philadelphia Rapid Transit Co., and many street railway companies in various sections of the United States, including the States of Illinois, Ohio, Pennsylvania, New Jersey, Rhode Island, etc.
Money worth less than its face value, or worth nothing at all. Many of the notes formerly issued by our State banks were so termed. "Wildcat" is used to denote anything deceptive or unreliable, and is thus often applied otherwise than as a qualifying adjective to " money."
The law usually permits every one of legal age and of sound mind to provide for the distribution of their property after death, by will, and in most of our States this applies to married women, although not formerly. Personal property may be willed away by those not of age, the laws of some States providing that male children as young as eighteen and female children as young as sixteen may draw wills for the disposition of personal property.
Witnesses are necessary to the validity of almost all wills, the number varying in different States.