A Treatise on Commercial Correspondence, for the use of schools, etc

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The Author, 1862 - 172 pages
 

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Page 98 - Thirty days after sight of this first of exchange (second and third of the same tenor and date unpaid...
Page 32 - DEAR SIR, — I have the pleasure of acknowledging the receipt of your letter of the...
Page 92 - ... Lading, a printed agreement between the shipper of goods and the captain of a ship, binding the latter to deliver them " in good order and well conditioned," on payment of a certain freight. It is usual to make out three bills, one to the shipper, the second to be held by the captain, and the...
Page 134 - In the purchase and sale of stocks, it should be remembered, that the interest due on them from the time of the last payment of the dividends is always taken into the current price, and the seller never receives any consideration for it, except in the case of India bonds and exchequer bills, when the interest due is calculated to the day of sale, and paid for by the purchaser, independently of the price agreed on. It must...
Page 134 - ... always having a quarter's interest due on them more than others, which makes an appearance of a considerable difference in the price, when, in reality there is none at all; thus, for instance, Old South Sea Annuities sell for 85|/.
Page 126 - ... days of grace) 60 days. See Prop. 2, page 131. 6. When goods are bought or sold on which discount is to be made for present payment at any rate per cent, if no time be specified, the interest of the value of the goods for a year is the discount. Examples. . • . . . (1.) What are the present worth and discount of 550 10s. for & months, at 5 per cent.
Page 43 - Store, on these premises, for the sale of these articles wholesale and retail in casks and bottles, I beg to acquaint you with my determination to select none but the choicest and most approved qualities of the different descriptions of each ; by which means I shall, at all times, have it in my power to ensure to my friends and customers such articles as will, I trust, merit their approbation and obtain for me a continuance of their favours. It is my intention, likewise, to keep a constant supply...
Page 133 - ... punctually paid when due, the STOCKS, by such means are become the most convenient security on which sums of money can be best put out, particularly for temporary purposes; since any sum, large or small, may be bought in, or sold out, at pleasure. But in buying, or selling in any of the different stocks, it must be remembered, that the interest due on them from the time of the last payment by government is always taken into the current price, and the seller never receives any separate consideration...
Page 125 - RULE. As 100, with the interest for the time given : is to the sum given : : so is the interest to the discount required.
Page 125 - DISCOUNT is an allowance made for the payment of, any sum of money before it becomes due ; and is the difference between that sum due some time hence, and its present worth.

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