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Ray's New higher arithmetic; a revised edition of the Higher arithmetic
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1880 Excerpt: ...the association meets to transact business. 2. New York city is the commercial center of the United States, and the transactions of the New York...
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1880 Excerpt: ...the association meets to transact business. 2. New York city is the commercial center of the United States, and the transactions of the New York Stock Exchange, as telegraphed throughout the country, determine the market value of nearly all stocks sold. 2. United States Government Bonds are of two kinds,--coupon and registered. Remarks.--1. Coupon bonds maybe transferred like bank-notes: the interest is represented by certificates, called coupons, printed at the bottom of the bond, which may he presented for payment when due. 2. Registered bonds are recorded in the name of the owner in the TJ. S. Treasurer's office, and the interest is sent directly to the owner. Registered bonds must be indorsed, and the record must be changed, to effect a transfer. 3. The United States also issues legal tender notes, known as "Greenbacks," which are payable in coin on demand, and bear no interest. 3. The various kinds of United States bonds are distinguished, 1st. By the rate of interest; 2d. By the date at which they are payable. Most of the bonds are payable in coin; a few are payable in currency. Example.--Thus, "U. S. 4J's, 1891," means bonds bearing interest at 4J, and payable in 1891. "U. S. cur. 6's, 1899," means bonds bearing interest at 6j&, and payable in currency in 1899. Quotations of the principal bonds are given in the leading daily papers. 4. Bonds are also issued by the several states, by cities and towns, by counties, and by corporations. Remarks.--Legitimate stock transactions involve the following terms and abbreviations, which need explanation: 1. A person who anticipates a decline, and contracts to deliver stocks at a future day, at a fixed price which is lower than the present market price, expecting to buy in the in...
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