FELLOWSHIP. FELLOWSHIP is a rule used to divide the gain or loss which may arise in partnership (when the stock of each partner is not equal) proportionally among them. Case 1. When the sums advanced by each of the partners, and the gain or loss on the whole, are given to find the share of gain or loss belonging to each of them. Rule. As the sum of the stocks of each of the partners added together, Is to the sum advanced by each of them, So is the whole gain or loss, To the gain or loss of any of the partners. Case 2. When the stocks are considered with respect to time. Rule. 1. Multiply each man's stock by its time, and add the products together. 2. Then as the sum of the whole stock multiplied by the time, Is to the product of each individual share multiplied by its time, By what rule do you work, when the sums advanced by each of the partners, and the gain or loss on the whole, are given to find the share of gain or loss belonging to each of them? When the stocks are considered with respect to time, what is first to be done? After multiplying each man's stock by its time, what is then to be done? Examples.-Case 1. 1 Three merchants, trading together, gained 500 dollars; A.'s stock was 800 dollars, B.'s stock 700 dollars,| C.'s stock was 500 dollars: what was each man's share of the gain? A.'s stock 800 B.'s stock 700 C.'s stock 500 2000 As 2000: 800 :: 500: 200 for A.'s share. As 2000: 700 :: 500: 175 for B.'s share. Ans. As 2000: 500 :: 500: 125 for C.'s share. 2. D., E., and F., trading together, D. put in stock amounting to 500 dollars, E. 400, and F. 300; and by a misfortune lost 300 dollars: I demand the loss that each must sustain, in proportion to the sum he put in? Ans. D. $125, E. $100, F. $75. 3. A merchant being deceased, worth 1800 dollars, is found to owe the following sums: to A. 1200 dollars, to B. 500 dollars, to C. 700 dollars: how much is each to have in proportion to the debt? Ans. A. $900, B. $375, and C. $525. 4. Three drovers pay among them 60 dollars for pasture, into which they put 200 cattle, of which A. had 50, B. 80, and C. 70: I would know how much each had to pay? Ans. A. $15, B. $24, C. $21. 5. A man failing, owes the following sums: to A. 120 dollars, to B. 250 dollars 75 cents, to C. 300 dollars, to D. 208 dollars 25 cents; and his whole effects were found to amount to but 650 dollars: what will each one receive, in proportion to his demand? Ans. A. $88.75.+ C. $221.84.+ 6. A., B., and C. are to divide 900 dollars; A. is to have a certain portion, B. as much again as A., and C. three times as much as B.: I would know each man's Ans. A. $100, B. $200, C. $600. part? 7. If a man is indebted to A. 250 dollars 50 cents, to B. 500 dollars, to C. 349 dollars 50 cents, but when he comes to make a settlement, it is found he is worth but 960 dollars, how much will each one receive, if it be in proportion to their respective claims? Ans. A. $218 61cts. 8m.+ B. $436 36cts. 3m.+ Examples.-Case 2. 1. Three men traded together; L. put in 88 dollars for 3 months, M. 120 dollars for 4 months, and N. 300 dollars for 6 months; they gained 184 dollars: what will each man receive of the gain? L. 19 09cts. 4m. Ans. M. 34 71cts. 6m. N. $130 18cts. 8m. 2. Three persons, A., B., and C., made a stock for 12 months; A. put in, at first, 580 dollars, and, three months after, he put in 100 dollars more; B. put in, at first, 1000 dollars, and, after 9 months, he put in 200 dollars; C. put in, at first, 480 dollars; 3 months after, he took out 300 dollars; and 2 months after, he put in 500 dollars; and 3 months after this, he took out 400 dollars; and 1 month after, he put in 1000 dollars; at the end of 12 months, their gain was found to be 2108 dollars 44 cents: I demand each man's share of the gain. A. $581 64cts. 8m.+ Ans. B. $932 41cts. 4m.+ C. $594 37cts. 7m.+ EXCHANGE. EXCHANGE is a rule used to change the currency of one state or country into that of other states or countries. Par is a term used to denote equality in value; but the course of exchange between countries is frequently above or below par. Agio is a term used in some countries to denote the difference between current and bank money. Exchange is of two kinds, Foreign and Domestic. DOMESTIC EXCHANGE. Rules for changing the currency of the United States to Sterling money, and to the currency of other states, and to Federal money. To change the currency of each of the United States and Sterling money to their value in Federal money. Rule. Reduce the given sum to pence, and divide the product by the number of pence which make a dollar. 1. How many dollars are there in £63 14s. 6d. in Virginia or New England currency ? Ans. $212.411. 2. Exchange £230 10s. 7d. North Carolina or New York currency to dollars. Ans. 576 32cts. 2m.+ To bring dollars, or dollars and cents, to pounds. Rule. Multiply the dollars, or dollars and cents, by the pence in a dollar of the currency into which you wish to bring the given sum, the answer will be pence, which bring to pounds; or work as directed by the practical theorems in the table on page 120. Note. When there are cents in the given sum, two figures must be cut off from the right of the product, before bringing them to pounds. 3. How many pounds Pennsylvania currency are there in $150? Ans. £56 5s. 4. Bring $377.40 to pounds Massachusetts currency. Ans. £113 4s. 4d. 5. What number of pounds Georgia currency are equal to $389.45? Ans. £90 17s. 5d. A TABLE, Exhibiting the value of a dollar in each of the United States; and practical theorems for exchanging the currency of either into that of any other. *The New England States are, Vermont, New Hampshire, Massachusetts, Maine, Rhode Island, and Connecticut. Subtract Dollar one 16th. 8s. Od. X7-12 Dollar X97X45-28 x 127 4s. 8d. to each other, which will frequently be shorter. rules found by considering the proportions which they bear Rule of Three, or by Practice; or may be worked by Questions in Foreign Exchange are solved by the TABLE OF FOREIGN COINS. FOREIGN EXCHANGE. 20 Sols 3 Livres FRANCE. 1 Crown. 1 Livre, |