cwt. qr. 4. What will be the cost of 3 hogsheads of tobacco at $9,47 per cwt. net : the gross weight being of 16. 16. 2. 10 2 12 tare 150 Ans. $265,16. 5. At £1 5s per cwt. net, what will be the cost of 4 hogsheads of sugar weighing gross, cwt. 16. 2. 12 5 19 gross Tare 4lb. per cwt. 1 3 0 8oz. Ans. £59 4s 3dt. cwt. qr. 6. At 21 cents per lb. what will be the cost of 5hhd. of coffee, weighing in gross, 16. tare, 2. 9 1 20 100 Ans. $808,71. 7. At £7 5s per cwt. net, how much will 16hhd. of sugar come to, each weighing gross 8cwt. 3qr. 716. : tare 121b. per cwt. ? Ans. £912 14s 53d+. QUESTIONS. $ 194. What are Commission and Brokerage ? How is the allowance generally made ? $ 195. What is Insurance ? What is the written instru. ment called ? What is the premium ? How is it generally determined ? $ 196. What is the face of a note ? What is the present value of a note ? What is the discount of a note? How do you determine the present value ? $ 197. What is the use of the rule of Loss and Gain ? In what else does it instruct him ? $198. What are Tare and Tret? What is Draft ? What is Tare? What is Gross Weight ? What is Suttle ? What is Net Weight? FELLOWSHIP. $ 199. Fellowship is the joining together of several persons in trade with an agreement to share the losses and profits according to the amount which each one puts into the partnership. The money employed is called the Capital Stock. The gain or loss to be shared is called the Divi. dend. It is plain that the whole stock which suffers the gain or loss, must be to gain or loss, as the stock of any individual, to his part of the gain or loss. Hence, we have the following RULE. As the whole stock is to the whole gain or loss, so is each man's share, to his share of the gain or loss. EXAMPLES. A and B buy certain merchandise amounting of which A pays £90, and B £70: they { Ans. { B's share $142,85+ gain by the purchase £32: what is each one's share of the profits ? A. £90 B..£70 £160 : 32 : : 90 : £18 A's share. 70 : £14 B's share. 2. A and B have a joint stock of $2100, of which A owns $1800 and B $300 : they gain in a year $1000: what is each one's share of the profits ? $. $. 3. A, B, C and D have £20,000 in trade; at the end of a year their profits amount to £16,000: what is each one's share, supposing A to receive £50 and D £30 for extra services out of the profits ? A's share £4030. B's share £3980. Ans. C's share £3980. D's share £4010. 4. Five persons A, B, C, D and E have to share between them an estate of $10,000: A is to have one fourth ; B one eighth ; C one sixth; D one eighth ; and E what is left : what will be the share of each? A's share $2500. $1250. $1666,66+ $1250. E's $3333,33+. DOUBLE FELLOWSHIP. $ 200. When several persons who are joined together in trade employ their capital for different pe riods of time, the partnership is called Double Fellowship. For example, suppose A puts $100 in trade for 5 years: B $200 for 2 years: and C $300 for one year: this would make a case of double fellowship. Now it is plain that there are two circumstances which should determine each one's share of the profits : 1st. the amount of capital he puts in ; and 2dly, the time which it is continued in the business. Hence each one's share should be proportional to the capital he puts in, multiplied by the time it is *continued in trade. Therefore we have the following RULE. Multiply each man's stock by the time he continues it in trade : then say, as the sum of the products, is to the whole gain or loss, so is each particular prodret to each man's share of the gain or loss. EXAMPLES. 1. A and B enter into partnership: A puts in £840 for 4 months, and B puts in £650 for 6 months; they gain £300 : what is each one's share of the profits? A's stock - 840X4=3360 B's stock . 650X6=3900 3360 : £138 168 10d. 7260 : 300 :: 3900 : £161 38 ld. 2. A put in trade £50 for 4 months, and B £60 for 5 months; they gained £24: how is it to be divided between them? A's share £9 12s. Ans. B's share £14 8s. and D hold a pasture together for which ay £54: C pastures 23 horses for 27 days, and D 21 horses for 39 days: how much of the rent ought each one to pay? Ans. O must pay £23 5s 94. D 30 3d. EQUATION OF PAYMENTS. ♡ 201. I owe Mr. Wilson $2 to be paid in 6 months ; $3 to be paid in 8 months; and $1 to be paid in 12 months. I wish to pay his entire dues at a single payment, to be made at such a time, that neither he nor I shall lose interest: at what time must the payment be made ? The method of finding the mean time of payment of several sums due at different times, is called Equation of Payments. Taking the example above. Int. of $2 for 6mo.=int. of $1 for 12mo. 2x6=12 of $3 for 8mo.=int. of $1 for 24mo. 3x3=24 of $1 for 12mo.=int. of $1 for 12mo. 1 x 12=12 6 48 48 The interest on all the sums, to the times of payment, is equal to the interest on $1 for 48 months ; and 48 is equal to the sum of all the products which arise from multiplying each sum of money by the time before which it becomes due. But the sum of the payments is equal to 6. Now if $1 will produce a certain interest in 48 months, what time will be necessary for $6 to produce the same interest ? Obviously but one sixth of the time, or 8 months. Hence we have the following RULE, Multiply each payment by the time before it becomes due, and divide the sum of the products by |