Nominal

value. A value in name only; approximate value; estimated value. Non-a ented stock or bonds. Stock or bonds which the owners refuse to deposit under an agreement by which their status will be changed. For additional information see Readjustment. ' Non-a e able stock. A stock that cannot be a e ed. Non-clearing house stocks. Stocks dealt in on the New York Stock Exchange which are not included in the list of stocks cleared at the stock exchange clearing house. Non-cumulative stock. Stock on which dividends if not paid do not accumulate—that is, if dividends are not paid for a period they have not subsequently to be paid for the period when they were not declared. Non-interest-bearing. Bearing or paying no interest. The money i ued by the United States government, since the government pays no interest on it, is a non-interest-bearing obligation; the bonds i ued by the United States government, since the government pays interest on them, are interest-bearing obligations. Non-member bank. A bank that is not a member of a clearing house but clears through a bank that is a member. Non-member bank statement. See Bank statement. Non-negotiable instrument. A non-negotiable instrument is one where the payee has the right to set off or present in par- | tia! or entire liquidation of it a claim against the original owner of it or where there’is a stipulation that payment of it shall or may be made in a representative of money (as a bill of exchange or draft or a check) or that payment shall or may be made in property. Also see Negotiable instrument. Non-value bill (of exchange). Same as accommodation bill (of exchange); a draft (bill of exchange) drawn against credit allowed to the drawer by the drawee (the one who pays the - draft). Also see Value bill ( of exchange). No protest. A draft or a promi ory note so marked is not to be protested, or in other words, is not to go to protest if not paid; a draft or a promi ory note so marked is not subject to the protest fee charged by the bank or other agent entrusted with its collection. An indorsed draft or promi ory | note is sometimes marked “No protest” so that demand shall: not be made upon the indorser for the payment of it. When a draft or a promi ory note is received marked “No protest” and the instructions are to protest it if not paid the: draft should be protested on the theory that to make a pro i: 5 i — test when not nece ary is a le serious mistake than to omit a protest when one is nece ary. For additional information see Protest. 392