Identifier: wallstreetguide00jlmc (find matches)
Title: Wall Street guide /
Year: 1902 (1900s)
Authors: J.L. McLean & Co.
Subjects: Stock exchanges
Publisher: New York: J.L. McLean
Contributing Library: Columbia University Libraries
Digitizing Sponsor: The Durst Organization

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option has straddled themarket. Example: A buys corn for May deliveryami sells an equal amount for December delivery, inthe expectation that the former will advance and thelatter decline. It is also called a straddle when atrader buys property for future delivery in onemarket and sells in another. Sucre.— (Ecuador.) A coin valued at 61.6 cents. Syndicate.—A combination of persons for businesspurposes. Tael.— (China) Shanghai: A coin valued at 91 cents.Haikwan customs: A coin valued at $1,013. Tailer.—A follower. One who having a small capi-tal and little confidence in his own judgment, followsthe lead of a successful trader or clique. Tierce.—In speculative dealings a tierce of lard isfigured at 340 pounds. Tonnage.—The amount or quantity of freight han-dled by rail or marine; the whole amount of shippingestimated by tons. Trover.—An action to recover for the value of goodswrongfully converted by another to his own use. Trust.—A combination of business interests having
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WALL STREET GUIDE. 59 for its object monopoly in special lines of trade; as ofmanufactured or selling goods. Exclusive control. Under the Rule.—When a member of the exchangefails to meet the calls for margins during the timespecified by the trading rules, the chairman of theexchange announces that he will sell, under the rules,for the account of the delinquent member, such secu-rities as that member held, and will buy, under therules, such securities as the delinquent was short of.Sales of this character are marked up, followed by theletters U. R., to indicate under the rule, andsuch quotations are, of course, an indication of afailure. Underwriter.—One who subscribes for stock in acompany, in the expectation of placing or reselling;also, one who insures. Individuals underwrite poli-cies of insurance as well as companies. Underwriting.—When a new security is to bequoted on the market it is sometimes the planto organize a sjmdicate to underwrite the issue.In this case the syndica

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