Sld

These letters printed in connection with the report of a Stock Exchange sale upon the "tape" are explained under the rulings of the New York Stock Exchange, as follows: When a sale is not recorded in its proper place, the price will be preceded by the abbreviation Sld., thus, Ro. Sld. 75. This indicates that the transaction took place previous to others which have been reported earlier, and, therefore, is not necessarily the price of the stock at the time of its appearance upon the tape. In the example given above, it would indicate that the common stock of the Rio Grande Western R. R. Co., to which the letters Ro. refer, had previously sold at 75 per share, although, in the meantime, other transactions had taken place.

Societe Anonyme

This is approximately the French equivalent to an English "limited company."

Soups

Used to designate the Southern Pacific Railroad Co.

Souths

A London term for the London & So. Western Rwy.

Split Tickets (Or Splits)

See " Ticket."

Spring Wheat States

The important ones are North and South Dakota, Minnesota, Wisconsin, Iowa and Nebraska.

Stag

The London name for a man who applies for securities of a new issue with the intention of selling out on a quick and small profit.

Stale Bull

When one who has taken the " bull" side of the market has met with disappointment, and closes out his contracts at a loss, he is called a " stale bull."

Standard Oils

The stocks of the 33 subsidiary companies into which the former Standard Oil Co. of New Jersey was divided by decree of the United States Supreme Court.

Steels

Used in London to designate the ordinary shares - common stock - of the United States Steel Corporation.

Stock Exchange Daily Official List

See "Official List."

Stock Splitting

See " Split Stocks."

Stock Transfer Tax Law

See " Taxes on Stock Transfers."

Stopped Stock

See " Stop Loss Orders."

Street Markets

After the Stock Exchange in London closes, the members resort to Throgmorton Street, where dealings are carried on in South African mining shares, and to Shorter's Court, leading off Throgmorton Street, where transactions in American shares take place. The London Stock Exchange, however, takes no cognizance of transactions of this kind. It is the more speculative securities that are bought.

And sold in this manner. Broad Street, in New York, is a street market. In fact, any curb market, doing business in the open, is a street market. (See "Curb.")

Subsidiary Coinage

Silver, copper or nickel pieces of money of less value than one dollar. Take-in. See "Takers-In."

Takers-In

(To understand this subject, it is necessary first to read "Fortnightly Settling-days" and "Contango.") These are the lenders of money and the ones who are prepared to "carry-over" those who do not wish to accept delivery of a security at the time of the "settlement," or "bears" who are "short" of the particular security, and, therefore, need it to fulfil their own commitments. They "take-in," or, as we say in America, "take-up" the security on behalf of another; i. e. "carry" it. (See "Givers.")