Consol

An abbreviation or contraction for consolidated stock or bond. The stock representing the consolidation of the funded debt of Great Britain is called consols. A large part of the public. debt of Great Britain, nine separate loans, being in the form. of annuities, was consolidated in a 3 per cent stock (or bond) in 1751. In 1888 the 3 per cents were converted into 2 3-4 per cents with the provision that in 1903 the rate should be reduced to 2 1-2 per cent. The price of consols is regarded as the gage of the national credit of Great Britain. The official | name of consols is consolidated annuities. Consolidated annuity. See Consol. Consolidated bond. A bond in an i ue created to refund (take up and replace) two or more previous i ues; sometimes called unified bond. Consolidated mortgage. A mortgage taking the place of two or more mortgages previously existing; sometimes called unified mortgage. Consolidated Stock and Petroleum Exchange of New York. This exchange was created in 1885 by an amalgamation of the: New York Petroleum Exchange and Stock Board and New York Mining Stock and National Petroleum Exchange. On this exchange dealings are conducted in the leading stocks dealt in on the New York Stock Exchange.