FINANCE, INDUSTRY, TRANSPORTATION. 



481 



side financial aid, but has conducted with its 

 own resources the great undertaking, and dem- 

 onstrating the success of the practical ques- 

 tions involved before public aid is again 

 invited. The work of constructing and re- 

 building the canal has been carried on, and a 

 large force of men has been engaged upon the 

 work during the past two years, under the 

 direction of eminent engineers. At present 

 the chief work is being done on the cutting of 

 the Culebra Hill. 



It is anticipated that the canal will be com- 

 pleted. It is thought that $20,000,000 more 

 may finish the work. The distance between 

 the two oceans is 45 miles. Of this twelve 

 miles on the Atlantic coast and three miles 

 upon the Pacific coast are approaching comple- 

 tion. 



Nicaragua Canal was projected to connect 

 the Atlantic and Pacific oceans, using the 

 waters of Lake Nicaragua. Total distance 

 from ocean to ocean, 169.4 miles; depth of 

 canal, 30 feet; least width at bottom, 100 

 feet ; time transit from ocean to ocean, 28 

 hours; length of Lake Nicaragua, 110 miles; 

 average width, 40 miles ; surface area, about 

 2, 600 square miles ; area of watershed of lake, 

 about 8,000 square miles. 



From New York to San Francisco by water, 

 around Cape Horn, the distance at present is 

 15,660 miles ; by the Nicaragua Canal the dis- 

 tance between the same points will be 4,907 

 miles, a saving of 10,753 miles. The distance 

 in statute miles from New York to the Pacific 

 Ocean by the principal land and water routes 

 is as follows: By water to Cape Horn, 7,897;' 

 by Southern Pacific Railroad, 3,709 ; by Cana- 

 dian Pacific Railroad, 3,619 ; by Central 

 Pacific Railroad, 3,269 ; by Northern Pacific 

 Railroad, 3,237; by Nicaragua Canal, 2,519. 

 Estimated cost of construction of Nicaragua 

 Canal by the Nicaragua Canal Commission 

 was $133,472,893. 



"DICTIONARY OF LAW ANI> BUS- 

 INESS TERMS. 



Abandonment. The relinquishing to the underwrit- 

 ers, under an insurance, of all the property saved from 

 a wreck, in order to entitle the insured to claim for a 

 total loss. 



Abate. To break down, destroy, or remove ; as, for 

 instance, to abate (remove or pu' an end to) a nuisance. 



Abduction. The unlawful taking or detention of a 

 woman (having property in possession or expectancy), 

 against her will, with the intention of procuring lier 

 marriage or defilement. Also the unlawful taking of an 

 unmarried girl under the age of sixteen years, out of 

 the possession and against the will of the father, or 

 other person having the lawful care of her, although 

 doneAvithout force or corrupt motives. The former is 

 a felony , and the latter a misdemeanor. 



Abettor. A person who encourages or excites an- 

 other to commit an offense punishable by law. 



Abeyance. The fee simple of lands is in abeyance 

 when there is no person in being in whom it can vest, 

 so that it is in a state of expectancy or waiting until a 



proper person shall appear, or the right thereto is deter- 

 mined. The same applies to dignities or offices. 



Abortion. The offense of procuring the miscarriage 

 of a woman quick with child. 



Abstract of Title. An epitome of the deeds and doc- 

 uments constituting the evidence of title to an estate. 



Above Par. Stock which sell for more than their 

 face value are said to be above par. 



Acceptance. The act by which a person on whom a 

 bill of exchange is drawn, undertakes to pay it at ma- 

 turity. The bill of exchange itselr is sometimes called, 

 in common parlance, an acceptance. 



Accessory. A person concerned in a felonious offense, 

 although not the actual perpetrator, nor present at its 

 performance. He may be accessory either before or 

 after the fact. 



Accommodation Bill. A bill of exchange accepted 

 without value, for the purpose of raising money thereon 

 by discount. 



Action. The method of demanding the enforcement 

 of a legal right, and procuring redress fora civil injury 

 in the courts of common law. 



Accept. To acknowledge by signature ; to accept a 

 draft is to acknowledge the obligation to pay it when 

 due. 



Acceptance " supra-protest " or for honor. An ac- 

 ceptance by some third party after protest for non-ac- 

 ceptance by the drawee, with the view of saving the 

 honor of the drawer or of some particular indorser. 



Acceptor. The party who accepts a draft so as to 

 bind himself to pay the sum specified in it. 



Acknowledge. To admit ; to certify by signature to 

 the genuineness of a deed or mortgage ; to give infor- 

 mation of the arrival of a letter or remittance. 



Accrued. Interest or increase due and unpaid. 



Account. A statement ; an arrangement of debits and 

 credits in relation to any person*or thing; a record of 

 business transactions. 



Account Sales. A statement of the product arising 

 from the sale of goods received by a merchant from 

 another party, and sold for his benefit, together with the 

 costs and charges incurred in making such sale. 



Accountant. One who is skilled in accounts. 



Actuary. A clerk of certain courts and insurance 

 offices ; one skilled in annuities ; an acting officer. 



Administrator. He that has the goods of a person 

 dying without a will committed to his care, for the pur- 

 pose of legal distribution. The nearest of kin is entitled 

 to administration. 



Ad Valorem. Stamp duties, the amount of which is 

 regulated according to the value of the property, etc., 

 are so termed. 



Adjust. To put in order ; to bring to a satisfactory 

 state, so that parties can agree in the result. 



Advance. Additional price, stocks above par. 



Advances. Sums of money paid by a merchant upon 

 goods lodged in his hands for sale at a future time. 

 This term also covers money loaned by bankers on bills 

 of lading. 



Adventure, f v/perty ventured in a voyage ; a specu- 

 lation. 



Advice. Counsel given, usually in regard to the pur- 

 chase and sale of goods. 



Adulteration. Mixing a spurious with a genuine 

 article. 



Affidavit. A written statement upon oath. It must 

 be sworn before a person authorized to administer 

 oaths; who that is, depends upon what the affidavit 

 relates to. The same officer is not usually empowered 

 to administer oaths in all the courts. 



Affinity. Relation by marriage between the husband 

 or wife and the blood relations of either; but not be- 

 tween the husband and wife themselves. 



Affirmation. A solemn declaration in lieu of an 

 oath. 



Agent. A person appointed to do an act for another. 

 The act when performed is, in law, the act of the prin- 

 cipal; tb maxim being "qui facit per alium facit 

 perse." 



Alibi. Elsewhere. A defense by which it is proved 

 that the accused was not at the place where the offense 

 was committed at the time of its commission. 



Alien. One born in a foreign country out of the alle- 

 giance of the queen. 



Alimony. An allowance made by a husband to his 

 wife when living apart from her. 



Allocatur. The certificate by which a taxing mas- 

 ter certifies the amount at which" he has taxed a bill of 

 costs. 



Allonge. A flip of paper attached to a note, draft. 



