A "put" is the right to sell to a certain firm or individual shares of stock at a stated price for a stated period, and a "call" the right to buy under the same conditions. The holder of the "put" or "call" is under no liability, as he can use the "put" as margin to buy stocks, or the "call" as margin to sell stocks, or he can hold them for the profit there may be in selling or buying the stock after it has declined or risen below or above the price named in the "puts" or "calls" he holds.

For those unacquainted with such business terms as "gross" or "net" profit: Gross profit on business done is that first profit which remains after deducting the first cost of producing the goods—in this case copper, the metal; and from this gross profit must be deducted other expenses, such as unusual development expenses, the expense of running the executive departments, interest, etc. This leaves the net profit which is available for dividends.

"The Street" is a general term used to designate the stock operators, the fraternity in New York being known as Wall Street, in Boston as State Street, and in Philadelphia as Broad Street; these streets are the centre of the financial districts of their respective cities, the Stock Exchanges being situated on them.