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Les diegrammes sulvants lllustrent la mAthoda. 1 2 3 1 2 3 4 5 6 /jT/. fa 2 i y. AJ 1 » Dig laoA BUSINESS TIPS MERCANTILE DICTIONARY CONTAINING EXPLANATION OF TECHNICAL TERMS, BUSINESS FORMS, and OFFICE WORK. COMPILE J BY Alec Thomson, ASSOCIATE OF THE INSTITUTE OF ACCOUNTS, COMMERCIAL MASTER OF THE HIGH SCHOOL, MONTREAL, AND MASTER OF BOOK- KEEPING AND BUSINESS- PRACTICE Y. M. C. A. AND Y. W. C. A., MONTREAL. IVITH PREFACE BY GEO. MURRAY., B. A. Montreal : WILLIAM DRYSDALE AND COMPANY, 232 St. James Street. Entered according to Act of Parliament of Canada in the year of our Lord one thousand eight hundred and ninety, by W. Drysdale & Co. in the oflfice of the Minister of Agriculture. PRINTKD BY THE CANADA HANK NOTE CO. MM., MONTREAI,, PREFACE. I have been asked to write a few words of preface to a " Mercantile Dictionary " compiled by Mr. Alec Thomson, of Montreal, and I cheerfnlly complj'^ with the request. The Work contains clear definitions and ample explanations of all the technical terms that are ordinarily used in the business forms that are necessary in office work. One of the special features of Mr. Thomson's "Dictionary" is that all the business forms supposed to be used in, or outside of, the office, are exact reprints of actually existing documents, and are here employed to illustrate imaginary transactions that are fully explained in the text. The most im- portant of these are bank checks, bills of exchange, including drafts, promissory notes, home and foreign bills, deposit slips, discounting bills, orders, accounts of sales and purchase, receipts, invoices, — home and foreign, and the numerous papers connected with Custom House work. These latter are undoubtedly of great value, as the passing of entries at a Custom House is often a trying time for an inex- perienced clerk. Fully appreciating this fact, Mr. Thomson has inserted in his work all the requisite papers, with entries of various kinds. The papers needed for bonding goods and for exports are also clearly exhibited ; while, in connection with shipping work the documents shown are bills of lading, ship's manifest and charter party. The mercantile student's special attention may further be drawn to a simple and unique way of calculating interest, and averaging accounts, and to valuable practical hints about the routine of office IV. Preface. work that are profusely scattered throughout the volume. Though intended mainly for young men who are entering upon a commercial career, there is a great deal in Mr. Thomson's " Dictionary " which may possibly be unknown or unfamiliar even to merchants of ma- turer age ; and, at any rate, they will find much to commend in this useful and accurate compilation. It is, I think, almost unnecessary to sav more. GEO. MURRAY. Mercantile Dictionary A occurs in the following abbreviations : — a/c or acct. account. a/s account sales. a/o account of. @ at. a/d after date. ans. answer. Ai first class. ^i .second class. a/v (ad valorem) according to value Amt. amount. av. average. A. M. (ante meridiem) before noon. ad. advertisement. Abatement. A deduction of discount from a quoted price or value, for prompt payment of cash. Some manufacturers issue price lists of their goods which remain unaltered from year to year, the fluctuations in price being denoted by percentages taken off", of which intimation is sent by circular, or intimated when quotation is given. Abandonment. In commerce and navigation, is used to ex- press the relinquishment, under certain circumstances, of what may remain of property to the insurer. Acceptance. <'* An assent by the person on whom a Bill of Exchange is drawn to pay it when due according to the terms of the acceptance. '** The bill itself when accepted. Be careful to notice that to accept a bill, means in full, '7o accept the obligation of paying it ivhen it becomes due. ' ' The acceptor signifies his acceptance by writing across the face of the Bill, the word "Accepted" with his signature. (See form A.) Mercantile Dictionary. Acceptilation. The acquittance of a debt by a creditor with- out receiving payment. Accommodation Bill. Bills of Exchange given without value for the acconunodation of some person who is to provide for the note when due. Accommodation paper is r^aWy Jiditioiis capital, and though sometimes convenient, is liable to abuse, and justly therefore has a bad name among commercial men. Account. A statement shewing the amount due by one per- son to another for goods, services, etc. Accounts are kept under their several heads in the ledger, from which they are copied, when required. The account should contain the names of buyer and seller, date of the transactions, and any special terms agreed upon by the parties. In wholesale houses, Invoices, containing the par- ticulars are sent along with the goods, or, separately by post, and in making out the account only the dates and simis require to be stated, as in the following example : — J- MONTHLY STATEMENT. In Account with MIDDLETON & CO. Victoria Square. 1889. 30 3 12 15 OOtL «/o. r/o. $13 «7 76 16 46 67 16 74 I153 ■"■ 44 Mercantile Dictionary. Enclosed with account may be sent request for payment, or note for signature, or printed memo, like the following : — ec{>^u-n-i /e/c/i^/bu ^ '^'€^. If the account has to be sent again to the debtor, it is written out in this way : — MONTHLY STATEMCMT. J- Cy^fiiyiAea/ 8O//1 (^e/i/em/e4- , /J^c^f. ^/ In Account with MIDDLETON & CO. Victoria Square. 1889. %■ 3' (^0 att/oHft/ 0/ ficc/. •• I153 44 8 Mkrcantile Dictionary. Or if a statement of the account has to l)e repeated, and other transactions occurred in the interval, it is rendered thus : — MONTHLY STATCMCNT. In Account with MIDDLETON k CO. Victoria Square, 1889. , It 30 17 30 I CJ^ itmotot/ o/ace/. ient/riff/ I76 42 17 15 Jf>53 118 16 44 32 ^?ot. 76 I288 52 MBRCANtiLK Dictionary. In the retail trade, itemised accounts are sent, as in the follow- ing example : MONTHLY •TATCMCNT. CASH •N a DAYS FROM ABOVE DATE. To BROWN & CO. 1889. Q/// '7 (Set Wot/.// f I 'J <^OfMJ I 75 25 75 / f 30 2 3 25 75 , 2 00 II 75 %r,y 3 20 , , '^ nofif/t'c '0t'r^f'o>iftlu , 50 ,. "^/^/foHr/fr Jof,h,r>/: / tiffti 1 I 50 6 20 |I7 95 As in previous examples, if the account has to be sent again, a formal statement containing date and the words, "To account rendered," is all that is necessary. For instructions as to receipt- ing an account see receipt. t6 Mercantile Dictionary. t Account Current. — A running accoinit — an account ren- dered by one party to another with whom he has done business, narrating in due order, the transactions which have passed between them. The debit and credit amounts are on the opposite pages, and the balance, if any, brought down on that side on which the summation is greatest, as in the following; example : I m 1(1 i'l \. s ^ 8 vO VO ,_ rO M t^ (S M K 8 vS- CO M fo ID C4 ^'^^^ 1 "^ ^ - Jis 1 t ^ ^ I- 1 ^ 1 -1 1 « t>» — ^ 1 ^. 2l S ^ <^ CT> CO 8 vO 8 fO M o. w M M N vO t^ o t^ 8 M OD t--. ■* y? t •o M N M lO «% H4 ^ 4^ ^ 'i ^ ^ t i ■t 1 ^ ■o s 00 •x M tf> 00 « « M - «» ^ 1 ^ ^ Sometimes the balance is sufficiently large to admit of interest being charged. Mercantii^e Dictionary. II Account Purchase. An abbreviation of the phrase ' 'Account of the Purchase ' ' of goods. A fonnal statement of goods purchased by an agent for his principal, containing commission and expenses connected with the shipment of goods, as in the following example : V S 03 UJ I- 3 1^ r I ^ ^ t CO e^i \ ^ 1 ^ "« \ 00 "* ^ M M 00 « G O fO (--. VO r^ w m M lO ^ M hH < *ft v< SN M " 53^ M &. s: i CO M •^ ^ ■1^ § ^ H M (^ ^ 1 *^ «i ^ W < ui $ ai w j U! i fi < P, ■i ^ i O !' I** o ^ o < ^ in c M lO 04 6 < 1 "4 V ^ ^ V6 1^ 12 Mercantii,e Dictionary. f \\i \n h Account Sales. An abbriviation of the phrase, ' 'account of the sales" of goods. An account drawn out by a commission agent to his principal, showing a detailed account of the sale of goods to him, less the charges for freight, commission, etc., as in the following example : — account Sales ^^/p /^^ ^-^ee/ ^eue/ &^ <^c^ '?/. lecufciui'i una. OH. 30 13 26 5 /o-l yad <=^ Subscription price, $ The above Magazine can be neatly bound in half-sheep at per vol., or half-calf at , ■ i(» Mercantiu-: Dictionary. »7 Affidavit. An oath or declaration as to the truth of a fact. Affreight. To hire a ship for the conveyance of goods. Agio. The difference between the real and the nominal value of money. Agent. One entrusted with the business of another. Allonge. A slip of paper attached to a document to lengthen it. Amalgamation. Signifies in connnerce, the fusion of two or more companies or firms into one. Amount. The sum total of two or more sums or quantities. Annuity. A sum of money payable once a year. Ante-date. To inscribe upon any document, a date earlier than that on which the document is written. Arbitration. An amicable adjustment of a dispute by the decision of one or more private individuals. Their decision is termed an award. Assets. The property of every description belonging to an individual, firm or company. Assignment. The transfer of the property of a bankrupt to certain persons called ass/!>>iirs, in whom it is vested for the benefit of the creditors. Assurance. Same as Insurance (which see). Audit. The examination and authentication of accounts, the party discharging the duty being called an auditor. Averages. In marine insurance are of two kinds : — particular and general. Particular Average is a contribution to which the underwriters are liable for partial damage to the ship or cargo. General average is distinguished from the former by the circum- stance that the loss is borne proportionately by the owners of the ship, freight and cargo. Ordinary policies do not cover losses under particular average unless specially provided for. Averaging an Account. Finding the time at which the sum of several debts, due at different dates, may be paid at once. The following example illustrates a very brief and simple method of finding the equated time. It is somewhat different from the rule given in arithmetical text books, but will be found to be of service. ist. When the goods are bought at different dates on equal time, say, at three monllis. iMI i8 MeRCANTII,K DlCriONARV. Example, Find equated time for the following account : Jnii. 14 To Goods | 50 " 26 " do. 120 Feb. u " do. 60 Mar. I " do. 70 l^cw Rule : Multiply second del)t l)y nuudjcr of days hctwecji date of first pur- chase and second ; nnUtiply third del)t l)y number of days between date of first purchase and third ; multiply fourth debt by number of days between date of first purchase and fourth aiul so on ; divide smn of products by sum of debts and the quotient is the equated term. Count forward from date of first purchase and add term of credit. Thus : |!i2o X 12 = 1440 60 X 28 = 1680 70 X 46 = 3220 3,00 I 63,40 21 days. Twenty-one days from 14th Jan. gives 4th Feb. and if at 3 months, the equated time is 4th May. 2nd. When the goods are bought at different dates on unequal lime, say at two, three and four months, as in the following example : — Example. FMnd equated time for the following account. f m Jan. 12 To Goods (ii\ 2 mos. # 60 " 18 " do. (-/, 3 " 220 I'Vb. 3 " do. (ti\ 4 " 120 I400 Hule. Find due date for each of the debts, then find ecpiated time as before. Thus : Mar. 12, 60 Apl. iS, 220 X 37 = 8140 June 3, 120 X 46 = 5520 4,00 |_i36,6o 34 days. Thirty-four days from 12th March gives 15th April, the equated time. Mercantile Dictionary. B occurs in the following abbreviations : B/E Bill of Exchange. H/L Bill of Lading. B/P Bills Payable. B/R Bills Receivable. B/S Bill of Sale. B. B. Bank Book. Bal. Balance. Brl. Barrel. Bo't Bought. Bro't Brought. Bxs. Boxes. 19 'I' i ;i Balance. The "difference" between the two sides of an account, that is, the .sum required to make the two sides equal. Balance of Trade. The difference between the exports from a country, and its imports from another country, or all other countries. Balance Sheet. A statement showing the assets and liabil- ities of a business. Bank Bill. A promissory note issued by a bank and circulated as money. Bank Oheck. An order on a banker to pay a certain sum of money when the order is presented. It is drawn by a person who has money deposited with the bank, and is payable, (i) To some person named on the order. (2) To liearer. (3) To the person drawing the check. * It is a printed form in which is written number, as issued, the date, the natiie of the person in whose favor it is drawn, the amount in words, the amount in figures, and the signature. Check to Bearer, is so called because the words *' or bearer " are inserted on its face, and implies that the bearer or holder of the check has precisely the same claim on the maker, as the party specifically named thereon. (See form B.) 20 Mkrcantilk Dictionary. Check to Onicr. Is so called, because the words "or order" are printed on its face. It means that if the stated sum is not paid to the payee himself, it is to be paid to some person whom he has order- ed to receive it. If desired, on checks payable to bearer, the word " bearer" may be crossed out, and " order " written above it. (See form C.) Indorsing a Check. That is, to write your name on the back of it. When thus endorsed the check is freely negotiable. Write your name across the check, not length'wisc, and in the same way as it appears on the check. If you want to make the check payable to some particular person by indorsation, write thus : — • I ^ff^tiii ic (Ae e-UCel ej^ (C^tCCui'rt (^ue-'Hii-eyn, u/Ce/n^i (/c€^.) ta To get a Check Cashed. Indor.se the check and present it first to the ledger keeper of the bank. He turns to the bank account of the person who signed the check, deducts the amount from his account, stamps and signs the check, and returns it. The check is then said to be accepted. Then present it to the paying teller, and the amount will be paid in cash. General Hints. Your signature should always be written in the same way. N. B. — Do not indorse a check until you wish to u.se it. Before the check is torn off from check book, enter on the counterfoil, the date, the name and the amount on the check. Never accept or sign a check without carefully reading it. In filling up a check, do it in such a manner that alterations cannot easily be made. Begin by writing the name and the amount at the extreme left, and be careful to fill up the remaining blank space with a line. ')\ Mkrcantii.k Dictionary. ai ^% i i I CD d CO v^ I i-g i «" ■= i >>g a "S • 5 " « = * i -I ■=* 5 ' CO 3 O 22 Mkkcantilk Dictionary. Bank Drafts.— A Bank Draft is a written order by otic >)ank on another, for the payment of a specified sum to a ixirson named therein, or to his order. (See form D.) Bank Drafts are now very largely used for making remittances. Subjoined is the form of order re(|uired for a draft on London, which explains itself: — t-i 1 ^ i -^ i v^ (^ ^ ^ Q ^ s ^,1 ? Co ^ ^^ c^ ^ 1^ J "^^ S ^ -S:, ?S) 4 ^^ Sv i 5 5 ^t # N '» i> i' a i 1 1 1 0m» « :<>• 1 s ^ 'N ^ 1 e1^ j ^ ^^^ <; Mrrcantilr Dictionary. ^7> Iti the foregoing, it will be noticed, that the Draft is asked for in the currency of the country in which it . is to be paid, the rate of exchange and the amount in Dollars lieing inserted by the Banker. As the above draft is drawn on Foreign Countries, for safety of transmission it is mailed in duplicate, by different routes, and when one of these has been honored, the other is not valid. Bankrupt. Any individual unable to pay his debts. What- ever property he has, is seized and distributed among his creditors. Barratry. A fraudulent breach of duty, or damage done to a ship by the master, or mariners, with the design of committing fraud on the insurers. Barter. To exchange one connnodity for another, without the inter\ention of money or other medium of exchange. Bills of Exchange. A Bill of Exchange is a written promise by a debtor to his creditor, to pay a .specified .sum of money on a certain date. There are three kinds of Bills, ist, Inland Bills. 2nd, Promis.sor>- Notes. 3rd, Foreign Bills. A Bill is termed an "acceptance," or "draft," or a promissory note, according to the form in which it is drawn out. The term " note," is merely a con- traction of the term " promissory note." There is a legal distinction between the term "draft " and " acceptance " ; but it is not recog- nized in commercial practice. Ill Inland Bill (Acceptance or Drakt). (See form E.) N. B. — This admits of various alterations according to circum- stances. Instead of "Two months after date," it may read any other .specified time as "Three months," " Thirty days," etc., or it may be "at sight," (Sight Draft), or at .specified time after sight, as "Thirty days after sight," or it may be "on Demand," (Demand Draft), again, the instruction to " Myself," or "Ourselves," may be to a third person who thus becomes " payee." On examination of the above form of an Inland Bill, the follow- ing points will be noted : i.st. T\x^ place at which it is drawn, viz., Montreal. 2nd. The date in figures at the top, viz., i.st March. It may be post-dated, or ante-dated. Neither place nor date is essential to the validity of the Bill, but should always be used. f 24 Mercantile Dictionary. i I! r ^ !■ 1 3rd, The fcrm ofpaymcui, a second date implied by the phrase "Two months after date " together with three days grace, viz., 4th May, called the date of maturity. 4th. The sum, the amount for which the hill is drawn written in the body of the bill in words, and at the top, in figures. Where any difference occurs between the.se, through a clerical error, the amount in words is held to be the amount for which the bill is granted. 5tli. The dm-d'cfs name. White & Co. The signature of the drawer or maker must be on ever}- bill. 6th. The dra'a'cc's name, the party to whom it is addressed. By accepting the obligation to pay the bill the dra'cci' becomes the acceptor. 7th. The />rtj'(ff 'j name. In this case the payee is "ourselves." Particular care mu.st be taken in designating name or description of payee. The drawee, I). Stewart, accepts the obligation bj- writing the word " accepted " and his signature across the face of the document. In a full acceptance, the due date is inserted as well as the place where it is payable. The bill when accepted will appear thus : (See form F.) '■' Promissory Note. (See form G.) A promissory note, or as it is more familiarly called a note, is like an ordinary acceptance, a written promise to pay a .specified .sum un- conditionally, on a certain day, either on demand or at sight, or at a specified time after sight, to a person named therein, to his "order," or to "bearer." It is preci.sely of the .same nature as acceptances, 1)ut is complete with the signature, no name lieing written across its face. In the foregoing note Jas. Duff is the maker and W. Steele & Son the payee. N. B. — The same variations as noticed under drafts are api)li- cable to promissory notes. '" Foreign Biu.s. (See form H.) Bills drawn by a person in one country on his corre.<'.pondent in another. These bills are usually drawn at so many days after sight, and are of exactly the same nature as Inland Bills. For the sake of ! '^ Mercantile Dictionary. 25 security against accident or dela}- in transmission, they are drawn in sets of three. When one is accepted and paid, the others are of course null. They are usually drawn in the money of the countrj' in which they are to be paid. In the example given (form H) Baring & Co. would accept the bill as shewn on Inland Bill. Indorsation of Bills. If the holder of the bill desires to discount it, or to transfer it to a third person, he will have to indorse it, — that is, write his name across the back of it (see Indorsation) and thus it becomes negotiable paper. A non-negotiable note is one payable only to the person named on the bill. Should the endorser not wish to render himself liable for pay- ment, he should write, ' ' without recourse ' ' above his name. Retiring a Bill. To retire a bill means, to pay it when it comes to maturity. , Presentment for Acceptance. To present a bill for acceptance, is to take it to the person on whom it is drawn that he may accept it. Bills payable at or after sight, should immediately be presented for acceptance. Presentment for Payment. To present a bill for payment, is to bring it to the debtor on the exact day it becomes due, and demand payment of it. Days of Grace. Bills of Exchange, except those payable on de- mand, have three ' ' days of grace ' ' allowed over the time specified on the face of the bill, so that the bill really becomes due upon the third day of grace unless it falls upon a Sunday, or holiday, in which case the bill becomes due the day after. Maturity of Notes. A bill is said to come to maturity on the date it l)ecomcs payable. A bill payable on demand, or sight, ma- tures on being presented. When drawn, say at thirty days after sight, it matures thirty-three days after jiresentation for acceptance. A bill, say at sixty days after date, matures sixty-three days after date. When drawn at one, two or three months, calendar months are understood. Thus a bill dated loth June, at one month, matures 13th July ; at two months, on 13th August, and so on. Again, a note issued, say on 30th October, 1888, at four months, would be due on 3rd March, 1889. This latter example is interesting, l)ecause notes issued on 2Stli, 29th, 30th or 31st October would all fall due cm 3rd March. I : HI ■\: 26 Mercantile Dictionary. ^ Noting and Protesting. If a bill or note is not paid on presenta- tion, it is said to be dishonored. To note a bill is, to record its non- acceptance or non-pa j'luent bj' a notary. He afterwards draws out a formal protest, that steps may be taken to recover the amount. If notes are sent to a bank, of which the holder has doubts as to their being honored, he may have them returned by the bank without in- curring the costs of protest, by affixing to the note a slip of paper thus : NO PROTEST. For non acceptance. Take this off before presenting. Nil: , I ■i -W Diseounting Bills. The discounting of a bill consists in giving for it its present value. In discounting bills interest is calculated from time between date of its being discounted, and its becoming due. Bills for discount should be properly indorsed, and should not have more than four months to run before maturity. The following is the form used in sending notes to a bank for discount. The clerk should be careful to enter the notes in the order of their falling due. In addition to name, address, amount and date, the "rating" as given by " Bradstreets," or any other reporting agency, is some- times given. (See form on page 27.) Collection only. If the merchant simply wants the notes col- lected on maturity, the same form is used, the phrase " For collection only," being written on top. Renewal of a Bill. The accepting by a creditor of a new h\\\ for extension of time, in place of a previous one which the debtor was unable to pay when due. Interest for extended time should be added, and the acceptor should be careful to get liack the old bill at the time of renewal. General Hints. A note discounted at the bank, and returned for non-payment to the person who discounted it, should be paid at once by him. All alterations on notes, however trifling, should be carefully avoided, any alteration on the currency, amount or names, unless specially agreed to, rendering it useless. Notes only bear interest when so stated on their face. If a note is dated Sunday, it is mill. Sk^-fts^i!^ .iSr^^r i.i Mkkcantiu': Dictionary 27 I-* vO CO CO M 8 1^ in V. ^ v£) CO ■^ 11 o n. o < m f- < X u o I 2 S O 3 S •3 I a = 3 u s n o s M s « a X i-s *j ■ fi *^ = .- s c u y *-* Jit C 3 ^ 4J _ o ' K ■52 o " MX S o si •§ I a 4; li . '5 ! "a ^^ I 3s z o w o X o UJ '^ 55 5 ^^ ^ ^ ^ ■ « « I 9 ■ a 9 z t Oi I) e e I ^ 5s ^>v § ■I -Si' t. H Mercantile Dictionary. 35 Oredit Note. In filling orders errors in invoicing, or in weight, or quality, sometimes occur, to rectify which, credit notes are sent to the customer. (See form on page 36.) Oum Dividend. A phrase attached to quotations of prices of shares about the time a dividend is to be paid, and indicates that the price quoted gives the purchaser a right not only to the stock he is buying, but also to the dividend just falling due. Ourrency. The money of a country. The term is also applied to notes, bills of exchange, etc. Oustoms. The duties or taxes imposed upon goods imported into, or exported from, a country. The dutiable articles, and rates of duty, vary from time to time, according to the requirements of the Government. These dues are embodied in a schedule called the Customs Tariff, of which the following is an extract : — Clothing, Wool ... 10 cents per lb. and 25 p. c. of value. Clothes Wringers . . $1 each "30 " " Clothing, Linen 32 " " Clothing, Silk 30 Clout Nails I X' cents per lb. Common Soap . . . i>3 " " Compasses for ships . free. Coir Yarn free. In the above the first two are termed specific and ad valorem duties, the next two ad valorem only, the next specific only, and last \.\iofree. In most commercial houses, the passing of goods through the Custom House, is an important part of the young clerk's work. Facility and accuracy in filling up the necessary forms required, is of the first importance. The subjoined specimens, will give the tyro some idea of what is required of him. Have the goods properly classified and rated, and the necessary extensions and additions correct, and no difficulty will be experienced in passing the entry quickly. The Customs Act demands that an' invoice of the goods to be entered shall be delivered to the Customs authorities. It should show the place and the date of the purchase, the name of the person or firm from whom the goods were purchased, and a full description 36 Mkkcantii.k Dictionary. h !' z H M Q o: I € S ^ ^ o >^ o CO I ^ ?! i .■a V Si N N V Mkrcantile Dictionary. 37 of the goods in detail. It should he duly certified correct hy the sender, and in the case of c( nsigned goods, verified by the oath of the consignor. In the event of no invoice having come to hand, the goods may be passed by making .special affirmation as to their value, to the Collector of Customs. Along with the invoice, a Bill of Entry (Form No. B i) in dupli- cate, has to be delivered to the collector. A third copy has also to be presented, on which is written receipt for duties paid. The subjoined form is in smaller type, but otherwise is an exact copy of the form in use. (See form page 38.) On examination of this form it will be noticed that it contains three numbers, one at the top above the words " For duty," called the manifest number (got from the vessel's manifest), the Report No. and Entry or consecutive No. These numbers are got at the custom house, and entered on the form when passing the entry. The other particulars at the top of the form are, date, name of importer, (if imported by water, nameof vessel and master's name.) The name of the place whither bound, and name of country in which goods were purchased. The body of the form contains the following particulars : — (i) The marks and numbers on the packing cases. (2) The number of packages. (3) Description of goods. No details are required here, but care must be exercised when an invoice contains a variety of goods at different ratings, to separate them under their proper classifications. (4) Amount in currency of invoice. (5) Value of Duty in Dollars. If the currency of the invoice is that of Great Britain, the par of exchange is at 9)^2, of France i9il, cents to one franc, and of Germany 23.8 cents to one rixmark. (6) The quantity. This must always be given even when not required for calcula- tion of duty. For example, in the accompanying form the duty on the bale of carpeting is ad valorem^ yet the weight 409 lbs. has to be entered on the form. (7) The rate of duty. (8) The duty payable. The various items must be added to- gether. At the foot of the form is a declaration to be made, in the event of any of the goods mentioned being free of duty. ril I 1 ■ t: :'iil If ! f> f I: 38 Mercantii,e Dictionary. Form No. B. I. / FOR DUTY. PO/?T OF MONTREAL, /^/ ^et^. iSS ^ /w/»o/-/€'rf *v BROWN, MORGAN A CO. per <^<@^ " ^alf/tHttin" 'QUf'/( Master, from ^('uet/ioo/ to MONTREAL. ANNUAL BOND No. es. Report No. yjg, Entry No. 4^ ■ MARKS AND NUMBER. OS H 4 I 2 7 DESCRIPTION OF GOODS. Amount in currency of Invoice. Value for Duty in Dollars. i H < D 0« Rate! of DUTY. Duty; 1 B. M. & CO., M. 1521 , 3,1435 526 'V5 Goods purchased in ^.'-0^. * - 180. 15.4 50.8.3 107.7.4 880 245 523 1S71 409 653 25 ID 25 20 $ 220 187 61 104 48 c. 10 25 60 98 • $621 93 I, JfOiif^ ^4{rff, do hcrf-by soli;mnly make oath, {or declare) that all tlie Goods and Articles hereinbefore mentioned as being Kree of Duty, are, to the best of my knowledge and belief, entitled to Free Entry under the Customs' Acts now in force in this Dominion. Srvorn to at Montrcat, this ( day of. 188 1 Collector. >. 93. MERCANT1I.K Dictionary. 39 'TY. lO 25 (I) Nanio nf llie owner L'onHigiiei' ur importer, a« the eatt may he, or a incm- Iht of tile firm of (l^lviii); name). Ci: Smm of tlie persui) ur linn lieinK owners, ciiiiMlKUi^eft or ini|iorlerH, i.H or are, (.1) He nr they, linn or have. (4) Collector or al torney in n k I n g the entry, or a jun- tiee til' the peaoe or UdllSUl. Declaration of the Owner, Consignee or Importer, required when the entry is made by any person other than such Owner, Consigmee or Importer. I, the utulersigned (i) Brown, Moreran & Co., hereby solemnly declare that the.withiw Bill of Entry contains a true account of the goods imported as therein stated, and whereof (2) Brown, Morgfan 8e Co., are the owners that the invoice herewith produced is the true and only invoice, which (3) they have received or expect to receive of the said goods, and that the prices of the goods as mentioned in the said invoice, exhibit the fair market value thereof at the time and place of their exportation to Canada, that the said goods are properly described in the said invoice, and that no discounts or deductions for cash, or because of the exportation thereof or for any other special consideration, have been made in the said invoice prices, and that to the best of my knowledge and belief the prices so exhibited were the prices of said goods for consumption at such time and place. Signeu at Montreal on the (^^44/ 'lay of @vuaui/ in the presence of ' <4) 'amfj f/^r/, tomi/. olaan 'T ^"i^o. A 60 _98 93 Oath or Affirmation of an Agrent or Attorney of the owner, Consigrnee or Importer. (1) Name of agent. I, (i ) James Black, do solemnly and truly (2) swear (J) Swear or aillrni. that I am the duly authorized Agent and Attorney of (3) Brown, Morgan & Co., and that I have means of knowing and do know that the invoice now presented by me of the goods mentioned in this Bill of Entry is the true m Nnnio of the and only invoice received by the said (3) Brown, Morgran & Co., "mpone'r"''''''"''''''^ of all the goods imported as within stated for (4) their account, that the said (4) nil or their goods are properly described in the said invoice and entry, and that said invoice and entry exhibit the fair market value of the said goods at the time and place of their exportation to Canada, without any deductions or discount for cash, or because of the exportation thereof, or for any other cause whatsoever, and that nothing has beeii on my part, nor to my knowledge on the part of any other person, done, concealed or suppressed whereby Her Majesty the Queen may be defrauded of any part of the duty lawfully due on the said goods ; and I do further solemnly and truly (2) swear that to the best of my knowledge and belief the said (3) Brown, Morgran & Co., ... ownor 11- are the (5) owners of the goods mentioned in this Klxnee, or Importer Bill of Entry, and that the prices of said goods ns shown therein and in the may «• ^^jj j,j^QJj,g^ ^^^g jj,g p^i^gj, j],grgQf fg^ consumption at the time and place of their exportation to Canada. So help me God. Ilrined^'"'" '"''''■ (^) '*"^°"' •'^'"'■^ '"^' ""^'°"'''^'*'' """^ ^'/.;/'l"y°* @^Hf/M/ 'SS^ CoLI-in TOK. Jl«tMf,i »/ lli 40 Mercantii^e Dictionary, ''^ ! .»' On the back of the form will be found : (i) The oath or affirmation of an owner, consignee, or importer. This is used when the owner himself passes the entry. (2) Declaration of the owner, consignee, or importer, required when the entry is made by any person other than the owner, con- signee, or importer, (3) Oath or affirmation of an agent or attorney of the owner, consignee or importer. (4) Oath where goods are entered at a lower rate of duty for a specific purpose than would be otherwise chargeable thereon. (5) Oath required where goods are entered without invoice. Nos. 2 and 3 are inserted here to show how to fill them up. (See form page 39.) In addition to the certified invoice, and three copies of the bill of entry, the Custoris clerk must prepare three other forms, viz. : — (i) "Collector'; lyanding Warrant," (see form on page 41). (2) "Goods for examination," (see form page 42). (3) "Wharfage Inwards " Ticket, (see form page 43). These forms are inserted here for the foregoing B/K, and are sufficiently simple to be understood without explanation. Having prepared all these documents, he presents them to the clerks in the Custom House to be checked, pays the duty and ob- tains a receipt, and makes the necessary oath and affirmation. Bonded Goods. When goods are to be placed in bonded warehouse, until duties be paid, similar papers, (printed in red ink), are used. The form for this purpose No. B 5, headed FOR WAREHOUSE No. is exactly the same as Form No. B i, and calls for the same par- ticulars. The form No. B 7 headed FOR DUTY EX-WAREHOUSE No. is also the same, except that no further affirmation is required. Form No. 26 for export cx-xvarehonse, differs very slightly, and a specimen, reduced in size, is here reproduced, (see form page 44). The entry refers to 249 tubs butter, purchased in the United States, placed in bond in Montreal, and exported to lyondon, England per "Assyrian." Mercantile Dictionary. 4t Form No. 28. No... Collector's Landing Warrant. PORT OK MONTRKAi,, ^^t(ff. •/, 188 ^ RKPORT Ex Ticket No. /mpoHed by B^OTTli, ViQUQA.V( ii CO., per <^W. " ^aiA from ^f'liei/ioo/. rnrati MARKS OR ADDKKSB. M.&CO. M. PACKAOKS AND CiOODS. / 9". fUfi /U Total i Pnckngcs ^JamfJ l/ac/f, Attorney. NUMnKRS, gt'ANTlTV AND DATE OK DELIVERY. [•ACKAC.EB DELIVERED (juiiiilitr (Juaiility ) 152 1 Vt'lK'll il.l. '"■ • I i;ii!iiitiiy 1 Whin iM. 1 s or V giiiiiility ) Wlii'n a.i. 1522 1523 ■435 104 526 1: Niimhers '\ ijimnilly ) Whi'ii .1.1. 1 i 105 T()tnl QuBntlty or numlii'r ) \ of rimkiiKL's ilcliviTt'il 5 • Sliurt I.iiuded.. You iiinv permit the landing of the above mentioned Goods. Pro CoUecloi: To the Surveyor, and Landing Waiter concerned. iMudina llailei: Tide IVaitet: N II -Tiik' Waiters will state when packages aie either Short Landed or sent to the Kx- amining Warehouse lor examination, and will not permit goods to Vie removed from the wharf or Station until weighed or gauged when necessary. • l.i H I ' 5 tl r" 42 o ^ Mercantile Dictionary. o a W X o C^ 00 00 \> ^ !^ vs, 4 « •^ .« ^ tt^ 5^ -^^ o 11 : « V ».t ©"S HQ if. 1U be C e) \ s •d cH V ^■•s Q ■u 4) Jl^ •M w opra Igna ■ . '_.--" 1 •d a V 1 u t> ' j:'S ! ^SJ « ■■:'.,,^ •c o o O •0 1 " ! <« 1 V b£ « h .li! U a : a, [ 1 «i 1 ^ ^ o s o '.: 3 ^^ <« « -2 a 3 (A a i -^ , i a w b^t 1 '•• <1 w in CS u P. a a; O ^ M I Pe Fo M Ac 00 4; K I I M O S a p Mercantile Dictionary. 43 WHARFAGE INWARDS, lo. Montreal, Per Oa: -Sf-<7. "'^aie/mm-ft' For BROWN. MORGAN & CO. Importer. i/e Master. Mark or Address. DESCRIPTION OF GOODS. / 'acKaaeii VALUE or QUANTITY. RATE. J6 AMOUNT. ±60 I DO HEREBY DECLARE that, to the best of my knowledge and belieF, the foregoing account i.s just and true in every particular. Witness my hand, this /lu/ day of ^u^ui/ 1889 Declared before me, .Mfdiifi i^/dcit aaent of Smportcre. Collector. 6/ 1 ti i ii I ■ ' l',i \. \\\ I ! ^lll ,M|| s 44 Mercantile Dictionary. N° 26. poR EXPORT EX-WAREHOUSE No. 4/ To be fonvarded by "C/fd&wifff/t- ' ' to the Port of 3ion(/ou Port OF Montreal, /ii/ Cy^tfa^td/, i88^ Entry No. f'y6 Imported by cg^ej^e ^§ per ^ ^. ^ from (^ ^ Warehoused ^C//f ^ffA i88^ Ledger Warehouse Entry No. 573 Marks and Numbers. No. of Packages. DESCRIPTION OH GOODS. Amount in Currency of Invoice. Value for Duty in Dollars. Quantity. It Amount of Duty $ c. Goods purchased in l>^. ^QT 249 SiJj S' : 6 7 ( X 10 1 20 j 26 50 t 100 500 1 1000 REMITTED. Jo JJG ()0 330 I to T so 25 i Commission.' ' I JSO (J^' E. E. Errors excepted. E. and O.E. Errors and omissions excepted. Ea. Each. Ex. or x/cl Exdividend. Ex. cp. or xcp Excoupon. Esq. Esquire. e.g. (E.xempli gratia) For in.stance Eng. England. Exd. Examined. Exr. Executor. Etc. or &c. (Et coetera) and so forth. Ex. Example, also ' ' out of. ' ' Embargo. An order given by public authority, prohibiting the departure of .ships or goods from port. Endorse. Or Indorse (which .see). Engrossers or Monopolists. Persons who buy up the whole, or large quantities of commodities, and keep them on hand with the object of increasing their profits. Equation of Payments. An arithmetical operation, the object of which is to determine the date when a single payment should be made for several payments due at different dates. (See Avcragitiif Accoimis.) Exchange. (0 The giving or receiving of one thing for an- other. (2) The remittances of money between different countries, by which sums in the money of one country, are exchanged for sums of equivalent value in another. Ex Dividendo. Without the dividend. When attached to prices of stock, it denotes that the purchaser is not entitled to the dividend just falling due. h MivKCANtii.K Diction AKY. 51 P occurs in the following abbreviations K. 0. B. Free on board. V. A. A. Free of all average. 1'. I'. A. Free of particular average. K.G. A. I'^oreign general average. Kcp. Foolscap. Kol. Folio. Ft. Freight. K. C. Free on Cars. Fav. Favor. fnlifl Pac Simile. An exact copy. Pace Value. The amount for which, a Bill or other nego- tiable instrument is drawn. Parthing. An English coin, value one fourth of a peiniy, usually written as the fraction of a penny thus: 9^4 ■*, T'/j'', 7}i''- Pinance. The reveiute of the state. The term is also applied to that of firms, or individuals. Pirm. The name or title under which a partnership of indi- viduals transact business, e. g. /)rnmfiiofi(f, McCall & Co. Pirst Olass Paper. Bills, Promissory Notes, etc., bearing names of acceptors, or indorsers, of first class commercial standing. Pirst of Exchange. See Bills of Exchange. Plat. Dull. Plotsam, Jetsam and Lagan. The termy/o/sam is applied to goods lost by shipwreck and floating in the sea. Jetsam is applied to goods thrown overboard, and which sink to the bottom of the sea. Laifan, to goods sunk in the .sea, and attached to a cork or buoy, that they may be fished up again. Polio. In bookkeeping, ^ folio consists of the two pages of an account book, presented to the view when opened. Both are num- bered by the same figure. Poreign Bill. See Bills of Exchange. Poreclose. To foreclose a mortgageor is to cut him off from the power of redeeming mortgaged property. Preight. This word is used in various senses. (1) It is ap- plied particularly to the cargo of goods conveyed by vessels. (2) To i^l H 52 Mercantile Dictionary. goods conveyed by rail. (3) To the sums charged for conveyance of goods by land or water. Free Trade. Commerce carried on without payment of cus- toms duties. I a li I c m 1 Mercantile Dictionarv. 53 le of :us- G occurs in the following abbreviations : gal. Gallon. G. P. O. General Post Office, grs. gtains or gross. G. B. Great Britain. Garnishee. A person who has property or value belonging to another person, and has received warning ox garnishment, not to de- liver or pay it to a third person who has a claim against it. Goodwill of a business. The aistom of any trade or business. For an old established business, this custom presents an expectation of profit worth paying for. Gratis. For thanks, or for nothing. Guarantee, or Guaranty. An undertaking for the payment of some debt, or the performance of some contract or duty of another, in case of the failure of such person to pay or perform. Guinea. A gold coin formerly used in Great Britain, valued at 215. '•I If ^M 54 Mercantii.e Dictionary. H occurs in the following abbreviations : H.M.S. Her Majesty's Service. Hhd. Hogshead. Hon. Honorable. H.P. Horsepower. Honor. To pay a note or draft when it becomes due. Hypothecate. To give a creditor the right to property as security for a debt. Property hypothecated remains in the hands of the debtor or borrower, and thus distinguishes it from property paw7ied, where the goods are held bj' the lender for security of the debt. [. Mercantile Dictionary. as of trty the I occurs in the following abbreviations : lb. or Ibd. (Ibidem) In the same place. Id. (Idctn) The same. i.e. (/rfe?5/)Thatis. I. 0. U. I owe you. Int. Interest. Inv. Invoice. Invty. Inventory. Ins. Insurance. Inst. Instant (The present month.) I.B. Invoice Book. In. Inch or inches. I.Q. (Idem Quod) The same as. 55 I. O. U. ft or traction for the sentence "I owe you," an acknowledgme n one person of indebtedness to another. The following is the usual form : ii'lk ) il ^> tic ^d.oo. (It is not negotiable.) Importation. Bringing goods from one country into another. Indorsee. The person to whom a bill is indorsed. Indorsement. The act of writing the name of the holder of a bill, check, or other document, on the back of the same, for the purpose of transferring it to another. The name alone written on ill 56 Mercantile Dictionary. M the back is termed "Blank" indorsement, and the document is then transferable to any one without further indorsement. Full in- dorsement is written thus : which limits the transfer to the person named in the indorsement. Insolvent. One whose estate is insufficient to pay his debts. Instalment. Payment by instalment is payment by parts at different times. Insurance. A contract whereby for a certain consideration, called a premium, one party undertakes to indemnify the other against certain risks, such as the perils of the sea, fire, etc. Interest. Money paid for the use of money lent, usually cal- culated at a certain rate per cent, per annum. The principal is the sum lent. Simple Interest is the interest on the principal only for the full time. Compotmd Interest is so called, because interest is paid, not only on the original principal, but also on the successive additions of interest, as they annuallj' accrue. The general rule for the calculation of one year's interest is, " Multiply the principal by the rate per cent, and divide by loo," if for days, "divide the in- terest for one year by 365 and multiply by the number of days, ' ' if for years multiply the first year's interest by the number of years. The following very simple method is worthy of study, for example : Find the simple interest on $40 for 313 days at 4% per annum. Principal $40 Multiply by No. of days 313 Multiply by double the rate To this product add its yi part •< <« 1/ ZJOO 12,520 8 100,160 33,386 3.338 333 Cut off five places to the right . . .$1.37217 and the answer is got in dollars and decimal thereof; thus the Mercantile Dictionary. 57 t IS in- r^4 answer is $1.37, This method, though not accurate as regards the fraction of a cent, will always give the dollars and cents correctly. It will be noticed that the thirtieth part of the product in the fore- going is got by taking the tenth part of the preceding result, that is, the first four figures are simply copied down, similarly with the 300th part, the first three figures are taken down. Again as another example : Take the interest on $53.60 from 15 March to 20th April at 3>^ Principal $53-6o Multiply by No. of days 36 Multiply by double the rate . Add K 'J 00 192,960 7 1350720 450240 45024 4502 18.50486 In this case there are cents in the principal, we therefore count back seven places, giving as answer 1 8 cents. Inventory. A statement of the value of goods and property on hand. Invoice. A detailed statement of goods purchased, sent by a dealer to a customer. It usually contains date of purchase, quantity and description of goods, price and charges, and any other particu- lars such as marks, route of shipment, etc., of which the consignee should be informed. Invoices are very different in detail, according to the nature of the business. An invoice clerk should be an expert pemnan, and rapid and accurate in his arithmetical calculations. The following samples will fairly '" Urate what is required. The last two are English invoices of vvnich Customs entries are on previous pages. h W 58 Mercantile Dictionary. s Q i6 V ^ ^ 1 ^ M-^ O 6fi 1 i i! K s. ?^ 1- Ns> ^ ^ 1^ s 1 ^ 1 X ^ V 1 ^ Accompanying invoice, letter such as the following is sometimes sent. ^' Mkrcantilk Dictionary. 59 ST. PAUL ST. c/4^'.^/>- "^ ///d '^fc , /<9^^ee/ c-ie/c'td t^n^fc/i- d^a-ti^ ^a-i^e . I-I S8 1 PRICE. i 1 SO ^ 5 % WEIGHT. u z VO 00 OS ro rO 10 VO ON 10 r» ■<* «^ 10 to to HI ti ^ p ^ 2 ^ K iii > Ui ae i 5 ^ 1 If Cf> 10 vO N ON to ■boioa ^ .- : r SHIPPING MARK. to Tt 10 00 « N N N pi d c 2 G a \ .A ■S .i Si i ^ 2 ■a t MERCANTII.E Dictionary. 6i In this Invoice of consignment the tare is given in two, the first being the weight of the packages, and the second the allowance for soakage of butter. 3 at .5 tfi t M VO t t^ ON t^ r^ ^ fO WOO CO M w M M M M lO VC vO « lOOO ^ lO OM-. t^ t^ M ^ •* "N? O _ ^ « - 5 oq ^ TA '^ ;S2 PI M O . CO . =0 • PI fO fO j:' ^is ""^g VO 2 !!; « X o ^ lO fO CO t^ 00 SO ro CO PI 5 t S t S &• z o ; an A X S u W » o z a .VI i •a 9 «« X ^ 05 4 4 62 Mercantile Dictionary. I < 16 Great Clyde Street, O^^ (S" H fi erf /j io McLEOD BROS. 1521 8 8 6 6 1522 ' 6 6 6 6 4 6 4 6 4 4 ^i^//^ : ^/,;^ 1523 •^^/[J 1435 14 Woz. y'fiJn/i f '53? ^^(t>^f/tfrf// 420 422 424 426 ^? 4CX) 442 404 406 408 410 412 428 430 432 17/11 2t/- I 27/3 35/6 ttit (tit '6 100 15U /■/J^ 19/6 25/3 27/- 34/6 40/- 46/6 52/6 39/6 40/6 41/- 45/- 56/- 7] 3 8 S 83' loii3| i '^}i\ 711 8 2 io| 7 8 13 •9 19 10 10 u;i7 : 8i 2 35 9 40 8 /ift For Customs Entry for above see page 38. (Amount of Invoice /'183 . 5/8 less cases £2 . 10/4 = ;{,i8o . 15/4, nett value of goods for Customs duty.) 33jio 22' 8 I 3 17 3 2 53 53 9 2 I 18 ' /183 5 8 1 MKRCANTii^ii Dictionary. 63 f ^1^ ? ^ H ^ o o z (0 U) \ ? x^ I o 1 ^N *^ >^ '■> '0 V "■s >. X i •<> X Ts 'N^ -5 I $|SS ^(^ # i ^9 ^ 1 V ^ ¥ ^ 5s ^ I Vl For Customs Entry of above see page 38. 64 Mkkcantile Dictionary. No clniiii allowed or goodH taken bnck iinlcHH adviged within one week from receipt of Shipment. Nos. 17, 10 & 21 Phillips SQUARr. AND 30, 32. 34 & 36 Union St. V/rJJ ^ffy, /agi'or, the one who gives the mortgage. r i 68 Mrrcantile Dictionary. :^ \ P' r I i ^^ i5 Sri ?> s O H « c w 'A o 'A O u Ui a; < o S2; 1 s| ^ . N. ^ •\^-^ ^ 8o o O O tn rr: 2. o S ^ i ^ ^ ^ ^ ^ "^ ^ 4 . SI ^^ .^ ^s S ^ "-*. >* V ^ ^"^ c ^ -% 8 o o 'J} K 73 f^^ S fi ITS v£ 1-. CO ON O " Mercantile Dictionary, 69 N occurs in the following abbreviations : No. Number. N.B. {Noia Bene) Take notice. Nem. Con. {Neinine Contradicente) No one con- tradicting or opposing. Nett or Net. Clear after all deductions are made. Net Proceeds. The proceeds of the sale of goods after all deductions are made. Net Weight. The neat or exact weight of goods after de- ducting tare. Negotiable. Transferable from one person to another. Non Claim. The omission to make a claim within the time limited by law. . Note. A /;w;//5^ to pay (See Bills of Exchange.) Notary or Notary Public. A person duly appointed to attest signatures in deeds, contracts, affidavits, etc. , also to note and protest bills of exchange and promissory notes. Novation. The substitution of a new debt for an old one, for example, when the acceptor of a bill is not prepared to tiieet it with cash, when due, and gives another bill in place of it. 1.; li m h 70 Mercantil,e Dictionary, O occurs ill the following abbreviations ; 0. I. B. Outward Invoice Book. 0. B. Order Book. oz. Ounces. o/a On account. 0/0 Per cent. 0/00 Per thousand. O.H.M.S. On Her Majesty's Service Obligation. The relation of a debtor to his creditor. Applied also to bonds within which an obligation is recorded. Obligee. The person to whom another is bound or to whom a bond is given. Obligator. The person who gives the bond. Open Policy of Insurance. One to which at the time of effecting the insurance, the amounts niaj^ be added, — the interest or premium to be afterwards declared, for example, the covering of risks attaching to cargo during an entire sea.son, instead of during a single voyage. . , Order. A request from one dealer to another to supply certain goods. The clerk should be careful to describe the goods correctlj', with precise instructions, (if any), as to shipment, insurance, etc., keeping an exact copy on counterfoil. It may be in the form of a letter thus : (See page 71). Mercantile Dictionary. 71 aplied lom a me of est or frisks single I- (0 -i o < h 0) 1^ V V V I < X CO q: < ertain ectly, , etc., 11 of a ^ #^ ^ ^ ^ ^ ^ ^ ^ 'o "^ i> (A (A & s o S -<« « 1) - a o tn o u XI a Pi I— I 1) +J ^ : i 72 Mercantile Dictionary. t Wi P' m Printed forms are much used, which, like Invoices, vary accord- ing to the nature of the business. Subjoined is local order to Box maker for Cigar boxes : — Tucker & Son. For 0, C^amajf Vg Order No. ^6 CIGAR BOX ORDER. /2//f C^ucfud/, l^J'f. Cedar ., Cedar, Imitation Bottom . LCNOTH. Width. DCPTH. ^V% i-h Ycr Imitation Cedar Butternut 4 Top Brand '^ac/'^^o-Zm Front Brand v/dec^. Per Gent. A contraction for per centum, meaning per hun- dred. In business applied to rates of interest, discount, etc., and written %. Policy or Policy of Insurance. The contract of insurance containing promise to pay a certain sum on the occurrence of some event. A valued Policy (Marine Insurance) is one in which the value of the goods is specified ; Open Policy, one in which the value of thi; goods is not mentioned. In case of loss the value has to be proved. MERCANTII.E DiCTlONARV, 75 Postingf. To Post is a term used in the office denoting the transfer of entries from Cash, Day Book, Journal, etc., into the Ledger. Post Date. To attach a date to a check, bill, or other writing, after that on which it was written. Post Office Order. A form used for particulars of remit- tances through Post Office Monej' Order Department. To avoid trouble and annoyance, be sure that it is filled up distinctly as on page 76. Pound. (In weight) avoirdupois. The unit of weight for merchandise. (In money) the principal coin of account of Great Britain. It is divided into 20 shillings or 240 pence. The coin for circulation is called a " sovereign." Power of Attorney. A written authority given to a person to act in place of, and with the full powers of another person. Preference Shares. Shares or bonds entitled to preferential claim on profits up to a certain point before anything is paid to ordinary shareholders. Premium, in insurance, the amount paid by the insured to the insurer. The price of shares are said to be at a premium, when the price paid for them is higher than the price when originally issued. Present, to. See Bills. Price Current or Price List. A list of the market prices of price of merchandise, stocks etc., occasionally published. Primage. An allowance sometimes granted the master of a vessel for taking care of the cargo. ^ Principal. A sum of money put out at interest. Profit. (1) Pecuniary gain in any transaction. (2) The dif- ference between revenue and expenditure. A manufacturer's ex- penditure, for example, would include the cost of raw material, cost of labour, cost of management, interest on capital, insurance. His revenue, — the price received for the manufactured article ; — the difference, his profit. Promissory Notes. See Bills of Exchange. Pro-forma. According to form. Protest. See Bills of Exchange. 76 Mkrcantiu; Dictionary, I I M. O. No. 1 P.M. 4oo.nn(i ■.'H.;i.wi. APPLICATION FOR ALL CLASSHS OF MONLY ORDHRS. I'OKMUI,!-; DK UKM.\N1)1. I'DIK TOUTK MANUAT DH I'OSTK. PART 1. Htamp uf lK!*iiiii|s Otlkx*, For use of Postmaster. (Pour le Mnitre (le I'oste.) No. PtxcIiaiiKc ortlce. Itureuu (I'C'chaiijre. NoTi.— The Pii-^tmasiiT must bo careful to ln*f.'rl the iiuinher orthi- Or>li>r iiii>t atlllx thiMlahil Sciinpitf lih omri' in the plui to tin* I iiili-il HtAti'H lie niiist writr ufi the Order tlu- luiiiH- ol (lit^ (^udimHiui Kx Ailvin* in ni'iit, aihl must ftho (?lv*' thf rianii' of thi- Stale nr Territory in w hii-h the iiuviim otH(M> in •lituatfil. N.lt.— L(> Mattro do Po««te doit avoir noln dlnscrlro lo iMim^-rii t iVa|>|ioiiT Ir timbre A ilatt; ilt* mm bureau, i\ lendrolt <|u'll apinirlieiit ; et hI le mainlat i-*t iMivahlo aux Ktus tnis j) doit hiscrire sur le mnndiit le nom du hiiuau d ">i'h:iiige ratiadien par rehtremi-4e du<|uel e^l fUV0y6 IuvIh, aiiiMi que le iiom de I Kttit nu du 'IVrritoIro oil se trouve le bureau puveur. PART II. P'or \me of Public. (Pour le Public.) Amnntit. Moiitaut. J^ CotiuiiisMion, Druit. Moni'v onlt'r ? ,^•1^ x ( Slandats ruvabl I'aviibk' at ! -^ fO JtC/^(lt^e^ ; au llur. an .li> ,—£ yy / 5 l.a Prnvilicc. 1 Ktat -^cauana | ou i-aj.. i'ruvince. State or Count 5iate ) r.v. 5 Kurt/onr^lo I C^Wfin/j^Y^Ui dollars QQ cents. Christian iiani-" ami Bur- ) •^ , • ,~j^ •j/ ( ^"i" 't iir^rinnm MaintMifi.ers.iij to nliniu ^ ._ L/JdUtCt ^*<^//iCfA \ 'lu ^ ( ileH roiids, J (^^KtO^ll- CJ^/ieef Rub et uuintro t ^^to'ttMa-uen v'"'-' "» vinagu. X2^i'HC(f'i((iitfi n«|iartTOicnt ou Canton ler} %Mri B^a/mei \ ""Z^^i^:^: // ^i^/ei/uc^/e Ci^ttee^- - i Street and uuniher t Q ■ ^ City or Town , I County, Depurtmeiit or Canton.. Christian and nurname or Renui= >rr of the oni t If the Order i» for payment out of Canada, the re* nutter mus't write here the exact address which a letter intended for the payee shuiild bear. t Si le mandat doit ^tre pay6 en dehorn du Canada, Ten- voyeur doit 6crfre ici I'adrei^se cxacte que devrait porter une lettre cxpMi^e au destinstaire. MKRCANTII.E Dictionary. 77 Q is used in the following abbreviations : qr. quarter. qt. quart. Q. V. {quod vide) wliicli see. Quotation. The prices of goods, course of exchange rates of freight, etc., quoted in the various markets, or, by one merchant to another. Quarantine. The time that a ship suspected of having in- fectious disease on board must remain at a certain place, before having intercourse with the shore. H !: '1 1 7S Mi;kcantii.k Dictionary, W I R occurs ill the followiuji; abhrtviations : R.R. Railroad. R.Ii. Receipt Hook. Rec'd Received. I Reg. Register. Rate of Exchange. Price of the money of one country reckoned in that of another. > Rebate. Same meanin.n as discount or abatement. Receipt. An acknowledgment of a certain sum of money having been received. A receipt should contain ( i ) The date when received, (2) The name of person from whom received, (3) For what the money was paid, (4) The signature of the receiver. (See page 79.) Instead of "account to date," the following phrases which ex- plain themselves may be used; — "on account," (deleting "in pay- ment of,") "in full of all demands," " rent of store for March iSfSg," " services to date," "note at months, due this date," "interest on his mortgage," etc., etc. To receipt an account write, " Received payment," or, " Paid," with date and name thus : — '^-^rref reef -/^r/^j^^fif f, ■/6/A ^^MJie, /(fjy^ J" yn- eS '-^ > e ^e-i-jf '»>, Mkkcantii.k Dictionary. 79 I O o o o q: < < o ^12 o IN IT ■N, ^ ^ "^ 0* & i 80 Mercantile Dictionary. When one person receives money for another, he signs thus : — # ecetfea Ha^-^yie-Ji 7' / y^«f4 Ma->^fd -^-^^tlA. Remittance. Money or notes sent from one person to another. Renewal of a Note. Should the drawee of a bill or note be unable to pay the amount as promised, the holder of the bill may grant extension of time, — taking up or cancelling the old note, and adding interest for additional time and expense of recalling note, if sent forward for collection. Retire. To retire a note means the paying of it when it be- comes due. Resources. Another term for assets. Returns. Value of goods returned by consignee to consignor. See Credit Note. Royalty, (i) The payment made by a manufacturer to an in- ventor, for every machine sold, (2) Of coal owner to landlord for every ton of coal extracted, (3) A payment made to any person in return for some privilege or concession granted. Running Policies. Same as Open Policies, which see. ! Mercantile Dictionary. 8i S occurs in the following abbreviations : /Z her. e be may and te, if t be- nor. 1 in- I for n in s. .shilling or shillings. SS. Steamship. s g. {Salntis Gratia) for the sake of safety — insured. s. p. supra protest. sen. .senior. Sec. .secretary. Soc. society. St. street, saint. Ship't shipment. Stg. sterling. Super or S.F. vSuperfine. SB. Sales Book. Sale. An exchange of goods for money or credit. Salvage, (i) Goods saved from a wrecked vessel, (2) The payment made to parties saving either the vessel or cargo, after it has been abandoned. Schedule. A document containing a list or catalogue of goods. A railway schedule or shipping note as appended on page 83 contains, consignee's name, number of packages, marks, weight, back charges, and con.signor's name, (attached to it is railway com- pany's receipt for the goods as described therein, see page 82.) Sea-worthy. Fit for a voyage and implying that a .ship is tight and staunch, manned and stored and in every way fitted for the inteud^ /oyage. Set of Exchange. See Bills. Shares. Portion of the capital of a trading company. The profits of such a company are divided proportionately, among the holders of the shares. vShares of this nature are called ordinary shares, (see Preference Shares and deferred Shares. ) Shipment. The goods .shipped on board a vessel. Shilling. The twentieth part of a pound sterling. Sight Bills. Bills drawn payable at sight, or on demand. Sighting a bill, a bill drawn at sight, or so many days after sight, m 'if ■ n ^'*i ' 5 82 Mercantii^e Dictionary. Form 9. CANADIAN PACIFIC RAILWAY COMPANY. Tbiii Company will not be respontilble for any Goodft mlwNent, unleMN they are conHi|;ned to a Ntatlon on their Kallway. Rates, Weights and 4|aan> titles enter«>d on receipt of Shipping Notes are not binding on the 4'oni« pany, and will not be acknowledged. All goods going to or coming from the IJnttcd States will be subject to Customs Charges, dec. C^^aM/iea/, Date j/^ (^c/. 1S9O. RECEIVED from .^ame Sg^. ) the Ses. Forin 9. CANADIAN PACIFIC RAILWAY COMPANY. This Coinpnny will not lieroN|>oiiHihIt> for any UooUn nilM-Ment, unless they are consiirned to a Mtatlon on their Railway. RateN. Weights and qnan> titles entered on receipt of Shipping Sfotes are not hlndlng on the Com* pany, and will not be acknowledged. All goodN going to or coming Arom the United Ntates will be snbiect to Castoms' t'liarges, Ac. mH' ■'u/l eat Dale Jc^. ■ ■ fSg6>. The CANADIAN! PACIFIC RAILWAY COMPANY lAll please receive the itiideiiiieiitioiicJ Property, in apparent good order, addressed to ■J^rf/ju-J '•-'/(^a/el/soj/ /. '--pa.. ^'loc^vu/e. to be sent by the said Company, subject to the terms and conditions stated above, and upon the other side, and agreed to by the Shipping Note delivered to the said Company as the basis upon zi'hich their receipt is to be given for said property. No. of I'!ickHgenefit of another. : ii 86 Mercantile Dictionary. I CO 03 CO o h. o s*ai s a fc- *- 3 o ? ' =5 " « 'S ^ ^ « «•;»•■) ♦* 4) a 4( J rt J ? . 9! at H u ':* X ''' • s S g i - ^ S .S = £ 2 « ;; -iw ^ •* « Si -s*2 t <« gSl: ■ ,r£ <•" -S ; u a °— - f , v.-xo^'^,- V 0) < .. ; ., - -■,-2'E-esB .5 •■^ ^ ^ 1» ^^ ■■ ^mm ^ ^ *^ U ^ ' j ? ° O V o tt~^ '■(J vH M S\ S.^a g2:o|j,|-|-='gs -SOI.? - _o'=-g2 e55 e ™«X1 ?] > « • a ^ O Mi 4* 2. fi I ^:' § ^ ^ «a. -do± eqt ^e )uaujaej8v pue eoi^ON om peon -«« Mercantile Dictionary. 87 U is used in the following abbreviation : Ult. {ultimo) the last month. Ullage. The quantity of liquor necessary to make up for leakage of a cask or bottle, or that part of a cask or bottle not filled with liquor. Underwriter. An insurer, — one who undertakes the risk, so called from writing his name under the conditions. On some policies, only one such name appears ; on others, several names are added, — each party thus entering his name taking a "line," or share of the risk. Usance. The time which by usage or custom is allowed for payment of a Bill of Exchange, such as, thirty days, sixty days, etc. Usury. Originally it signified Interest; now, it is applied to exorbitant or illegal interest. Utter. To utter coin means to pa.-.s off false coin. V occurs in the following abbreviations : Viz. ( Videlicet ) namely. Vs. ( Versus) against. Vols. Volumes. Via. " By the way of" as, via New York. Voucher. A document or paper proving that some paj^ment has been made, or transaction effected. W occurs in the following abbreviation : W. B. Way Bill. Way Bill. A list of passengers in a public conveyance, of the baggage, or amount of goods transported l)y it. Wharfage. Money paid for use of wharf. (See wharfage note under Customs.) Y occurs in the following abbreviations : Yds. Yards. Yr. Year. tips; and pointbrs. FOR YOUNG BUSINESS MEN. Vi Accounts. Always see that statements of accounts are com- pared and made to agree with the Ledger accounts from which they are transcribed. Don't Make Clumsy Figures. Abbreviations. Avoid the use of abbreviations in letter writing, also of figures except in giving dates or naming sums of money. If letter contains estimate for contract, repeat amount both in figures and in words. Be particularly careful in writing names of States, thus N. Y. might be mistaken for N.J. ; Md. for Ind., etc. Don't Write Crookedly. Addressing^ Letters. Always examine your letters before mailing and .see (i) that they contain the correct letters and en- closures, (2) that they are properly addressed, (3) that they are sealed, (4) that they are sufficiently stamped. Much carelessness exists in the matter of addressing and much loss and worry is the result thereof. In .some offices the addressing is left until the lasi moment and done in a hurry, — results are, transposed letters, or two letters in one envelope, or letters dispatched without address at all. An excellent plan is to keep all letters unsealed and have them re- examined by corresponding clerk before mailing. Re-examine the addresses also when in the act of posting. Don't Forget to Post Tour Letters. Brevity. A waste of words is a waste of time both to the writer and the reader of a business letter. State the subject matter as briefly as is consistent with perspicuity. In replying to a letter follow the same order that is observed therein, discussing one subject fully and in a separate paragraph before you proceed to the next. Use short words and short sentences. If dictated, never say or imply that you understand instructions if you really do not. Don't be afraid to OonfesB Your Own Ignorance. Mercantile Dictionary. 89 Bills of Lading. Be specially careful to forward Bill of Lading with advice of shipment of goods. Failure in this may result in an account for storage or demurrage. Don't Forget to Stamp your Letters. Ohecking. Always check most carefully the invoices, ac- counts, receipts, etc. , that come into your hands ; never assume that they are correct, even though they are well written. Check also with care all bank discounts on notes discounted. Bank clerks are not infallible. Don't Flourish. Oopying. Copy every letter, account, invoice, discount slip, etc. , etc. , that leaves the office. Don't Address the Envelope Wrong Side Up. Date. On a business letter give always the month, the day of the month and the year. It should appear on the right hand side at least one inch from top of page. In acknowledging receipt of a business letter always give the date of it. Don't Mention Private Matters in Business Letters. Dear Sir. The usual salutation of a business letter. If letter is to a gentleman with whom you have no acquaintance "Sir" should be used, " My dear Sir" implies greater intimacy. Don't Gross your Letters. Enclosures. If there are any enclosures to go with any par- ticular letter, care should be taken that these are not overlooked. For this purpose the clerk should mark on the left corner of each letter which is to contain an enclosure the word ' ' Enclosure ' ' or " Enc," as a reminder. Don't Chatter about your Employer's Affairs. Erasures. Avoid all erasures or blots on business documents, even if you have to re-write them. Don't Forget to Stroke your t's and dot your i's. Folding. Fold all business papers neatly from the bottom to the top and then again from the bottom forward, making three folds, when the envelope is nearly square, a single fold is sufficient. > Don't be Disobedient to Office Seniors. I 90 Mercantile Dictionary. I Mi i; 1 V: i Initials. Always write name in full, thus Robert Gray, not R. Gray. The person addressed, if a stranger, might be at a loss to know whether to send his reply to Mr. Gray or Miss Gray. Don't write Business Letters with Pencil. Introduction. Letters of introduction are used to introduce one friend to another who lives at a distance. Never introduce one who is unworthy of confidence, nor accept a letter of introduction from an unreliable person. Such letters are usually left unsealed and in addition to le ordinary superscription place the expression ** Introducing Al. Brown, Esq., Montreal," near the bottom and to the left. Don't Use Slang Phrases. Indexing. The indexing of the letter book should be carefully performed every day. If done by a boy, insist on his checking every folio — errors in this simple matter often cause waste of valuable time and the additional worry. In addition to indexing at commence- ment of book, each letter should be a reference to the one preceding it and the one following it to the samt jierson or firm, by indorsing it in colored pencil with ^he pages containing these letters. The numbers may be placed togctlier thtis, 76^99, the first denoting the previous letter, the second, the one fcllov/ing. Don't Use Bmployer's Paper for Private Oorrespondenoe. "'unior and Senior. The abbreviations are Jr. and Sr., or III i Sen. Its place is immediately after the name, thus, James y^K it., Esq. Dont't be afraid to say NO 1 Letters. A letter should consist of the follov/ing parts : ist, Heading, containing number ard name of street, city, county or state, post office box, date, thus : Mercantile Dictionary. 91 2nd, Address and Salutation, containing the name of the person or firm to whom the communication is sent, together with the residence or place of business. The complimentary address or salutation con- sists of the introductory words of courtesy which precede the letter, thus : y\ J^r^^ffS o /; The words of the salutation should never be abbreviated. When addressing a firm the salutation is " Sirs," " Dear Sirs," or "Gentle- men," A married lady or elderly unmarried lady is addressed as " Madam," " Dear Madam," or " My dear Madam." In addressing a young unmarried lady the salutation may be omitted. 3rd, The Body of the letter, consisting of the sentences or paragraphs which the writer wishes to communicate. It should begin one line or space below the salutation, and just where the salutation closes. 4th, The closing words of regard and signature placed towards the the right. The closing words should not be more familiar than the salutation, thus : , The first word only of the complimentary closing should begin with a capital. IMAGE EVALUATION TEST TARGET (MT-S) i.O ^^ 1^ ■tt IM 12.2 1.1 lis Kt U ; ||20 111 M U4 Fh0lDgra[Jiic Sciences Corporation .A * ^ <* >. '^rv\ ^"^^X"^ ^.v^ 33 WIST MAIN STRUT WnSTn,N.Y. MSM (716)172-4503 92 Mercantile Dictionary, I Don't Make Oareless Signature. Money. Always count money when you receive it, no matter from whom ; and never let any one, to whom you pay money, de- part without doing so. Always balance your cash daily ; and never leave your desk till the difference, if any, is ascertained. Don't Grumble on Paper. Mr. and Esq. Do not commit the stupid blunder of putting Mr. at one end of a man's name and Esq. at the other. Write Mr. W. It. Brown, or W. ly. Brown, Esq,. The plural is Messrs. Don't Do Anything in a Hurry. Paging. Tf a letter, account or invoice consists of more than one sheet, the sheets should be arranged in order and carefully paged. Don't Tell Your BusinesB to Other People. Punctuality. Be at your work rather before than after the time for attendance in the morning ; and never leave before the hour fixed for closing. Don't Waste Other People's Time. Spelling. Correct spelling is an absolute necessity to the young clerk or business man. If weak, cure yourself by continued copying of printed matter. Never allow a letter to leave your hands unless absolutely certain of every word. Don't Fail to Acquire all Possible Knowledfre, and especially such as is connected with Business. |i;)« ''^. 7 o i It >' <^'^[^'^f^P<^^^tyr>p ;— <'^ ^.X:-^^ > 1 (i \ l^^.l-