Construction

account. This account in the case of a railroad represents the capital invested in the road and equipment.: Contango. London Stock Exchange term, meaning the charge paid by the buyer for the privilege of continuing his: bargain (contract) to the next fortnightly settlement. Examples: 1-8 to 1-4 contango means that the bull (who is long) pays to the jobber 1-4 per cent for the accommodation and the bear (who is short) receives from the jobber 1-8 per cent. 1-8 contango to 1-8 back (abbreviation for backwardation) means that the bull pays 1-8 per cent and the bear pays 1-8 per cent. 1-16 contango to even means that the bull pays 1-16 per cent and the bear carries over at even, or in other. words, pays nothing. For additional information see Settlement, The. 140