THE STOCKS, OR PUBLIC FUNDS. Stock was a term originally used to signify the capital of Public Companies, as that of the Bank of England, the East India Company, South Sea Company, &c. It is now chiefly applied to the Public Funds, or Debts of Government. There are various kinds of Stock, as the 3 per Cent. Consolidated Annuities; New £3. 10s. per Cent. Consolidated Annuities; 3 per Cent. Reduced Annuities; Bank Stock ; India Stock, &c. &c. These Stocks are transferable at pleasure, even in small sums, and the interest is paid regularly, every half-year. The price per £100 of the Stocks varies according as political and other circumstances influence the market. The practice of funding began A. D. 1690, being money borrowed by Government at a certain rate per Cent. to supply the exigencies of the State ; the total amount of the Government Securities, at this time, being about 800 millions. To find the cost of any quantity of Stock. Example. What is the cost of £753. 15s. in the 3 per Cent. Consols, at £78} per Cent.—Brokerage & per Cent. ? € £ s. £ 8. d. 78 2 6 2 6 Brokerage. : EXERCISES. 1. What is the cost of £520. 15s. in the New 3} per Cents., at Cent. ? Answer, £465. 8s. 4 d. 2. What is the cost of £987. 10s. in the 3 per Cents. Reduced, at £891 per per Cent. ? per Cent. ? 3. Required the cost of £1075 in the 3 per Cent. Consols, at £725 Answer, £782. Is. 3d. 4. Required the cost of £500 Reduced 3} per Cents., at £85% Answer, £427. 10s. To find what quantity of Stock may be bought for, or sold, to produce a given sum. Example. How much Stock, at £784 per Ct., can be bought for £589. 16s. 24d.? 78 2 6 589 16 21 100 2 6* =566217 fgs. 100 78 5 0 € =75120 fgs. 7512) 5662170,0 (753 Answer, £753. 15s. EXERCISES. 5. What quantity of Stock in the New 3} per Cents., at 85% per Cent., can be bought for £700 ? Answer, £815. 2s. 9d. 6. How much Stock in the 3 per Cent. Consols, at £72; per Cent., will £478. 18s. 6d. purchase ? Answer, £662. 17s. 54d. 7. What quantity of Stock, in the 3 per Cents. Reduced, at £80} per Cent., must be sold to produce £725. 14s. ? Answer, £902. 17s. 10d. 8. How much Stock, at £624 per Cent, must be sold to produce £317. 18s. ? Answer, £511. 14s. 24d. 9. What is the difference on £1400, 3 per Cents. bought at £93}, and sold for £87 ? Answer, £89. 5s. * When Stock is bought, add the Brokerage ; if sold, subtract. FELLOWSHIP, IS EITHER SINGLE OR DOUBLE. SINGLE FELLOWSHIP Is when different stocks are employed in trading, without reference to time. By this Rule are adjusted the gains or losses of partners in company; or the effects of bankrupts; or legacies, in case of a deficiency of assets or effects, &c. Example. Four partners, C, D, E, & F, engaged to trade in company : C's stock was £150, D's £320, E's £350, and F's £500: they gained £730. Required how much of the gain each had to receive. £150 C's Stock Rule. Add the 350 E's several stocks toge500 F's £ € ther. Then, as the 132,0 73,0 :: 150 C's stock. whole stock is to the 150 gain or loss, so is each person's stock respectively to his 11) 912. 10 respective share of (12) 10950 EXERCISES. 1. A and B gained by trading £146; A put in £250, and B £370; what is their respective share of the gain? Answer, £58. 17s. 5d. 3' A's share. £87. 2s. 6d. U B's share. 2. Three men, A, B, and C, put in money together: A put in £23, B £32, and C £17; they gained £42. 15s. : required their respective shares of the gain. Answer, £13. 13s. 1 d. A's share. £19. Os. Od. B's share. £10. ls. 10 d. C's share. |