What Are Pacifics?

Southern Pacific, Union Pacific, Northern Pacific, Missouri Pacific and Texas Pacific.

What Are Paper Profits?

Profits existing on contracts which have not been closed, as they are not represented by money in the owner's possession, they are classed as paper profits.

What Is Meant By The Term Par?

The face value. If the face value of a stock is $100 it is at par when selling at 100, and above par when it is selling at a higher price, and is below par when selling at a lower price.

What Is Meant By Par Of Exchange?

It is the fixed intrinsic value of the monetary unit of one country expressed in the terms of the money of another country, which uses the same metal as a standard of value. In the United States gold money is 4.11 shillings, or 4 shillings, 1.31 pence in English gold money, or 5 francs, 18.26 centimes in French gold money, or 4 reichmarks (marks) 19.79 pfennig in German gold money, or 2 guilders (florins) 48.78 cents in Netherlands (Holland) gold money, etc.

If the price paid for a bill of exchange just equals the amount for which it is drawn, then exchange is at par; if more is paid, exchange is above par; if less is paid, exchange is below par.

Between a gold standard country and a silver standard country, there can exist no fixed "par of exchange," as silver, unlike gold, has no fixed value.

What Is Passing A Dividend?

A term adopted by corporations to describe an act which expresses the fact that the directors have voted against declaring it.

What Is The Meaning Of Pegged?

A stationary market, neither declining nor advancing, and held by buying or selling orders. It is said to be "pegged" when the market is dull and inactive.

What Are Pit Traders?

Grain brokers who trade or speculate for their own account, accepting the fluctuating profits and losses themselves.

What Is A Plunger?

A speculator who trades heavily and takes big chances of profits and losses. Successful plungers are rare.

What Is A Point?

In stocks one point means $1 a share. At par $100 stock has advanced a point when it sells at $101.

What Is A Pool?

When stocks and funds are united by a clique to carry through a corner in any securities, the whole plan is called a "pool."

What Are Posted Rates?

Each day dealers in foreign exchange post rates at which they will sell bills in small amounts to travelers and merchants.

What Is Pounding A Stock?

Free selling of long and short stocks. "The market experienced considerable pounding from professional traders," means that there was liberal buying and selling of both the long and short sides.

What Constitutes A Power Of Attorney?

When a person wishes to delegate to an agent or representative the right to transact any business which necessitates signing checks drawn against his account or the signing of papers which carry any obligation, he issues to such agent or representative a written "power of attorney," a regular legal form, conveying to his agent or representative the power to sign, placing such limitation as to the length of time such power of attorney shall be in force, as the circumstances or business may require.

What Is A Premium?

It means more than the par value of a stock. When stock sells at a "premium," it sells at a price in excess of the par value. Pennsylvania, par 100, selling at no, would mean that the stock is selling ten points above par value.

What Are Primary Shipments?

The aggregate daily shipments of grain from the primary or leading points to consuming points.

What Is The Principal?

The investment on which interest is payable. If you buy 100 shares of New York Central at par $100, the total amount is your principal or investment, thus, $10,000. Any dividend received would be interest on your "principal" or investment.