File:Wall Street guide - (1902) (14804326533).jpg

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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on-sumption the actual or net weight of each bale isascertained and charged for. Baltic Ports.—The ports of the Baltic Sea, fromwhich most of the Russian wheat is exported. Forthis reason Baltic shipments usually refer to Rus-sian wheat. Bank Clearings.—The aggregate amount of thechecks and drafts exchanged between banks (mem-bers of a clearing-house association) and carried tothe manager of same daily for an adjustment of thedifferences. These balances are paid through theclearing house. In large cities less than ten per cent,of the commercial business is done with currency.While the •clearings do not represent the sumtotal of the counter transactions of banks for anygiven time, they form a good basis for calculationas to the comparative volume of trade from week toweek. They more clearly indicate the growth orshrinkage of trade in a city than the actual amountof business done. Barrel.—The standard or commercial barrel of porkis always reckoned at 200 pounds. It contains only
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WALL STREET GUIDE. 45 190 pounds of fresh or green meat, and the additionof brine usually brings the weight up to 220 to 22.5pounds. In a barrel of flour there are 190 pounds,of salt and resin 280 pounds, and of cured fish 200pounds. The number of gallons in a barrel ofmolasses, syrup, oil, turpentine, wine, liquor,vinegar, and in fact any liquid varies from fortyto fifty gallons. When sold they are generallygauged and the aetual contents specified in billing.The same is true of hogsheads, pipes, puncheons,tierces, and kegs. Bear.—A person whose interest is to secure lowerprices; a short seller for a decline. (See Short.) Beneficiary Interest.—Any benefit, advantage, orinterest in a contract, as contradistinguished froma strict legal right. Bill of Exchange.—An order drawn on a person inanother city or country for the payment of money,in lieu of the same amount deposited with thedrawer. There are Foreign and Inland bills of ex-change; Foreign, when drawn by a person living inone

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