rse._

1. (_a_) Give some particulars in which the Bank of England differs
from our larger national banks. (_b_) Enumerate some of the
advantages afforded to the community and to commerce in general
by banking institutions. (_c_) How do private banks and trust
companies differ from national banks?

2. (_a_) What is a stock certificate? How does it differ from a
mortgage bond? (_b_) At what rate must United States 4 per cents
be bought to net 3.2465 per cent.? (_c_) Give the successive and
necessary steps in the formation of a stock company. How can the
stock of a company or corporation be increased?

3. (_a_) What provision is usually made for the redemption of
municipal bonds which have a long period to run? (_b_) What is
meant when we say that a certain railway is in the hands of a
receiver? (_c_) Give some of the advantages which stock companies
have over partnerships.

4. (_a_) Tell how you would receipt for a payment on a note. Why is
not an ordinary separate receipt sufficient? (_b_) Discuss fully
the points which should enter into a proper estimate of the value
of paper offered for discount. (_c_) Explain in detail the
business of a note broker, giving some particulars of his
responsibility in connection with the paper handled.

5. (_a_) What are the advantages to the banks of a city of their
central clearing-house? (_b_) Show by a diagram how collections
are made between distant points. (_c_) What is a certified check?

6. (_a_) Enumerate some of the abuses of rate discrimination in the
United States and tell how they are met. (_b_) What are the
advantages to the public of freight organisations which arrange
for through service? (_c_) Explain in detail the methods adopted
by leading and competing railway lines to regulate and adjust
freight rates. (_d_) What are _differentials_? How are (1)
through and (2) local passenger rates regulated?

7. (_a_) Give the particulars in which a warehouse receipt resembles
and differs from (1) a promissory note, (2) a bill of lading.
(_b_) What are the advantages to the importer of bonded
warehouses? (_c_) What are the duties of our foreign consuls with
reference to the importation of goods?

COMMERCIAL LAW

I. THE DIFFERENT KINDS OF CONTRACTS

Commercial law relates to CONTRACTS. These are made by almost every
one. A person cannot ride in a street-car without making a co