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CHAPTER XIII
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    Systems of business—Long credits—British and United States methods versus1 German—Making "good" stock losses—Question of exchange—Effect upon business—Drafts and speculators—Customary terms of payment—Central American banks as agents—Prominent Salvadorean Banks—The Press of the Republic—Prominent newspapers—Some of their contributors—Central American Press Conference.

The general idea prevails among both British and North American manufacturers, who have had little personal experience of the Latin-Americans, that extreme difficulties must inevitably3 be connected with all—or, at least, with most—transactions conducted in these countries, as far as payment for goods is concerned. I can but observe that the Latin-Americans as a race, if not more honest than Europeans or North Americans, are by no means any less so; and probably, if sufficiently4 reliable information were obtainable, it would be found that these former are, as a whole, quite as ready and able to meet their foreign obligations as any class of traders in either hemisphere.

As I have, however, pointed5 out in another chapter of this volume, it would be extremely unwise upon the part of any firm in Great Britain or in the United States to attempt to conduct their transactions by correspondence; an Agent is indispensable if difficulties in transportation and delivery through the Customs, as well as the collection of the account when due, are to be avoided.

[167]

In most of the Central American ports and cities, especially (in Salvador) at La Libertad, La Unión, El Triunfo, and Acajutla, the services of such Agents are obtainable. Moreover, some of the banks undertake to look after the interests of their correspondents who are recommended to them, and who are prepared to pay a fair price for the services rendered.

The usual method of conducting transactions of this kind is to draw upon the purchaser of goods for the amount of the invoice6, and to negotiate the draft through some local bank, which will in the majority of cases collect the amount, provided the shipping7 documents be delivered in good order and are found to be free from consular9 or Customs-house objections. The banks, naturally, take no responsibility in the matter; and in any case the shipper should know something reliable about the firm and their financial status before entrusting10 them with the goods. Another mode is for the purchaser of the goods to arrange with his own bankers to open a credit with the shipping firm to be operated upon, against delivery of the documents to the bank indicated, or in such other form as may be agreed upon; while a third expedient—an unusual one, however, and not to be recommended—is to make a remittance11 to the buyer beforehand, either by means of a bank draft or cable transfer. The safest method to adopt is to draw bills on the importing firm at a usance,[4] agreed upon at the time that the order is taken, generally from 90 to 120 days' sight, and to pass the bill and documents through the bank for collection or sale. The draft is[168] usually made payable12 in return remittance at 90 days' sight on London, Hamburg, or New York, but this is quite a matter of mutual13 arrangement between buyer and seller.

American as well as British export firms are, as a rule, disinclined to give credit, while the German, on the other hand, offers as much as his customer demands. Undoubtedly14 the latter loses a larger proportion of his book-debts by pursuing so generous a policy; but at the same time he multiplies the orders upon his books, and he has a clever and somewhat unscrupulous way of so manipulating the accounts of his honest customers as to make them directly or indirectly15 liquidate16 the debts of the dishonest ones. How this is done I do not know, but I know that it is done, for I have the assurance to that effect from more than one German trader who has thus balanced his ledger17 for several years, and always without suffering any bad consequences.

That the sanctimonious18 and strictly19 conscientious20 British tradesman is not altogether averse21, upon occasions, to pursue similar methods was shown some few years ago, when a prominent West End saddler confessed to the fact that when he took stock and found a gentleman's £5 saddle was missing, and that he was unable to remember to whom it had been sold, he instructed his bookkeeper to charge up this item to each one of the firm's customers. "Some," he unctuously22 observed, "will, of course, deny that they have had such a saddle; to these you can write and express our profound apologies for the unintentional error, etc. Those who don't complain will probably be unable to remember what they had and what they did not have. Let them pay. Thus we shall get square."

[169]

And it is to be added that so careless or forgetful are the majority of the customers of a "high-class" firm in London, that 70 per cent. of those who were wrongly charged with the missing saddle paid the unjust bill without questioning it.

Adverting23 to the subject of granting long credit to Central American importers of foreign goods, it must be remembered that the majority of these latter are obliged to ask for this indulgence on account of the excessively large amounts which they are called upon to find in order to clear their consignments24 from the Customs; and also because the retail25 business which is carried on in these, as in practically all agricultural countries, is a long-credit one. Only the most liberal concessions26 of credit can secure any decisive advantage for any one of the numerous competitors in business. Additionally, it is not always possible for the importer to secure good drafts at low rates in the market. In some of the countries—and Salvador is not any exception—the market for drafts is completely dominated by speculators, evidence of which is to be found in the fact that heavy and unaccountable fluctuations28 present themselves at short intervals29. The possibility of speculators thus controlling the market is increased by their finding in the banks—no matter how highly these may be ranked as honourably-conducted institutions—ready allies.

The question of exchange in Salvador, and the baneful30 effect which it has, and for some years has had, upon commerce and trade, especially upon the profitable conduct of the Salvador Railway, is more fully31 dealt with in another part of this volume (see Chapter XV.). But a few observations concerning the character of the exchange business in Central[170] American countries generally may not be out of place here.

In Honduras, exchange rates are often only nominal32, because no regular commercial paper is to be found in the market. The large exports of minerals, bananas, and other produce, are covered, since the proprietors34, who are mostly foreigners, need only the necessary amount for the wages of their labourers, and this is remitted35 to the country by means of drafts. The exporters, moreover, consider the premium36 on gold not only as profit earned upon their sales, but as representing an economy in their working expenses, since the export product and the wages for labour are paid for in silver, which naturally makes the first cost of the product much less. Drafts are in this way arbitrarily held back and kept out of the market, or prices are asked for them which are out of all proportion to the silver quotations37 of London and New York. So the importer in these silver standard countries, in some of which the exportation of the white metal is prohibited, finds himself compelled to wait for a favourable38 opportunity to buy drafts at a low rate in order to pay for his purchases in foreign countries.

The customary terms of payment for European houses are four to six months from the date of the invoice; in many cases shipments are made "to order," and the bill of lading is delivered to the purchaser when he accepts the seller's draft at his local bank, and in this way the customer is held to strict observance of the time when the bill falls due. In case of failure of the customer to meet his drafts when they mature, the matter is generally arranged by issuing drafts payable at sight after ninety days on London or Hamburg, with payment of interest[171] for the time they are out. The operations of having drafts accepted and remitting39 the funds collected through them are carried out by the large banks or private banking40 firms located in these countries in consideration of a commission varying between 1?2 and 2 per cent.

Open credits (that is to say, running accounts which the customer can vary in amount to suit his needs, with payment of interest, of course) are no longer granted, except by a few firms to some of their oldest and best customers.

The intelligent and not over-cautious European exporter accepts without hesitation41 the usual six-months terms, because he has some knowledge of these countries and their people; and he often prefers such a settlement to cash in advance, since he likewise recognizes that he is binding42 the customer to do more business with his firm. On the other hand, one often hears commercial houses complain that when they decide to place a trial order with North American firms which are desirous of doing business with them, and have repeatedly and insistently43 solicited44 such orders, they are required to pay cash with the order. That nobody in Central America would accept such terms, or at least very seldom, the clever Yankee business man ought to be able to see, especially as the most notable traits of the Spanish-American character are extreme sensitiveness and the need of courteous45 treatment.

A cash discount of 3 to 4 per cent. is not much of an inducement in a country where the usual rates of interest are 18 to 40 per cent. Some of the banks of Central America, which secure but a small and unimportant share of the business going, and which[172] pay less attention to the development of the country than to the needs of their own treasuries46, often demand 1 to 11?2 per cent. monthly, with security worth two or three times the sum loaned.

There are no established commercial agencies in Central America which furnish information, but reliable information uninfluenced by personal interests can sometimes be obtained from the principal banking firms—such, for instance, in Guatemala, as the International Bank, American Bank or Guatemala Bank, Clermont and Co., Schlubach, Dauch and Co.; in Salvador, from the Banco Agrícola, Occidental or National Bank, and Messrs. David Bloom and Co.; in Panama, Messrs. Ehrmann Brothers; in Honduras, from J. R?ssner and Co., P. Maier and Co., Francisco Siercke, and Juan Stradtmann; in Nicaragua, from the young and well-respected British Consul8, Mr. Albert J. Martin; and in Costa Rica from the following banks: Anglo-Costa Rica, Commercial and Sasso and Pirie. These houses are better informed than anyone else about the amount of credit customers may deserve, because, knowing the promptness with which the various firms meet their outstanding drafts, they are in a position to form a reliable opinion of the solvency47 of prospective48 or actual customers.

The Banco Agrícola Comercial has a subscribed49 capital of $5,000,000, of which $1,000,000 is paid up. The Reserve Fund amounts to $100,000, and Eventualities Fund to $115,180. The Permanent Director is Se?or Mauricio Duke, and the Consulting Directors Se?ores J. Mauricio Duke and Eugenio Aguila. There are two other Sub-Directors, Se?ores Rafael Guirola and Miguel Judice. Se?or F. Drews is the General Manager.

[173]

The Banco Agrícola Comercial, which was established in 1895, has gone through more than one critical financial and commercial period, but it has come out of the ordeal50 with considerable credit to itself. There can be no doubt that the bank has been a great assistance to agriculture and trade generally in the Republic, nor that it has not done at all badly for itself, which fact is seen from the last balance-sheets issued. In 1908, upon a total turnover51 of $14,500,000, the bank's profits were $145,634 (silver pésos). There was a dividend52 of 8 per cent. paid to the shareholders53 upon the paid-up capital of $1,000,000 (pésos) after all charges for administration had been met, and a substantial addition made to the Emergency Fund. In 1909 the total amount of business transacted54 figured at $16,200,000 (silver pésos).

The following summary of the bank's financial transactions and position over a period of three years will be of interest:
     Cash.    Commercial    Accounts    Accounts    Circulation.
          Paper and    and    bearing
          Mortgages.    Deposits.    Interest.
First half of 1907    717    588    906    780    816
Second half of 1907    565    758    828    931    741
First half of 1908    935    779    1,175    991    816
Second half of 1908    1,441    1,013    1,485    1,186    984
First half of 1909    1,424    1,213    1,954    1,142    921
Second half of 1909    946    1,181    1,603    1,453    969

It will be observed that the last year's showing is less favourable to the bank, but this may be attributed to the heavy demands made upon its resources in financing the movement of the coffee crop. The metallic55 reserve for meeting outstanding obligations[174] over the same period had been considerably56 weakened in consequence, as the subjoined table will prove:

METALLIC RESERVE.

(A denotes notes alone; B denotes notes, deposits and current accounts.)
At the end of the month    June.    December.
in per Cent.    A.    B.    A.    B.
1907    87.89    44.63    76.27    37.82
1908    114.39    46.90    146.35    58.33
1909    154.60    49.54    97.62    34.36

This bank, like others in Salvador, does not disclose the character of its investments, and it is therefore impossible to pronounce any opinion of its actual financial status. It is always desirable to know something regarding the character of the paper which a bank has in hand, and it is precisely57 this knowledge which is withheld58, and by many British companies also. The omission59 to provide it is in no way the fault of the bank, be it observed, but of the custom which controls its actions. In Costa Rica alone, among the Central American States, is the practice general among the banks to publish in the balance-sheets some particulars of the commercial paper carried, and this is taken into account like every other asset and inventoried60. In Costa Rica, also, all the issuing banks have their books inspected once a month by Government officials, and a certificate of solvency is presented to and published by them.

The National Bank of Salvador (Banco Nacional) was founded in 1907 with a capital of $1,000,000 (silver pesos). Of this amount one-half has been paid up.[175] The following statement of account for the first three years of its existence will be useful:
     1907.    1908.    First Half
               of 1909.
Total earnings    18,173.74    38,786.85    26,175.36
Deductions    3,000.00    8,138.35    6,175.36
Net Profits    15,173.74    30,648.50    20,000.00
Increase in 1908, 15,442.26


The balance-sheet shows the following accounts:
     1907.    1908.    First Half
               of 1909.
Negotiable paper    568,727    675,176    427,751
Loans on current accounts    546,331    777,847    724,734
Cash    264,374    634,803    449,207
Notes in circulation    90,908    517,153    426,732
Credit and deposits at sight    211,361    365,333    302,870
Time obligations    223,905    502,174    430,682


The metallic reserve account stood as follows:
At the End of the Month,    June.    December.
in per Cent.    A.    B.    A.    B.
1907    354·32    39·36    262·90    60·05
1908    115·93    60·10    126·47    42·70
1909    105·26    38·50

The steady increase shown is somewhat remarkable61, and the distribution of profits, considering the comparatively recent establishment of this bank, hardly less so. This distribution, after making all the necessary provisions, stood as follows:

[176]
     1907.    1908.    First Half
               of 1909.
Reserve fund    3,000    7,000    10,000
Emergency fund    —    2,000    2,000
Dividends    —    30,618    21,503
Undivided surplus    15,173    2,980    1,675

For the first six months of 1909, the dividend declared and paid was 4 per cent. upon the amount of capital paid up = $500,000 (silver pesos). For the remaining half-year and for 1910, and the first half of 1911, increased distributions have been made, and the financial condition and prospects62 of the Banco Nacional are considered to be in a satisfactory state. Se?or Guillermo Hemmeler is the Manager, and he has bought up the connection of the bank's customers consistently from the time that he first assumed control. The bank allows 3 per cent. interest upon current accounts, and it has the privilege of issuing its own notes.

El Banco Salvadore?o was established in 1885, and has a subscribed and paid-up capital of $3,000,000. The Reserve Fund amounts to $231,985.80 and the Dividend Equalization Fund to $20,000; the Eventualities Fund at present stands at $50,000. There are branches established at Santa Ana (the Manager being Se?or Cuno G. Mathies) and at San Miguel (the Manager being Se?or R. Schlensz). The General Manager in San Salvador is Se?or Alberto W. Augspurg, who speaks English very well, and is invariably courteous and obliging to foreigners who seek his assistance or advice.

Banking business in Salvador always has been, and still is, carried on by a few private firms. The establishment conducted by Messrs. Blanco and Trigueros was[177] founded as far back as 1835, with a capital estimated at $1,500,000. In 1893 the Bank of Nicaragua opened a branch office in the city of San Salvador, and for long did a good and steady business. Certain concessions and privileges were also granted to Messrs. Linares and Co., of Barcelona, Spain, enabling them to establish a national bank in San Salvador, with a capital of £1,000,000 sterling63. A concession27 was also granted for the establishment of a purely64 Mortgage Bank, but up till now such an establishment has not been started.

The House of David Bloom and Co., with branches at New York and San Francisco, is composed of Messrs. David and Benjamin Bloom, and who are the principal private bankers of the Government. Subject to the criticism which this position involves, mainly upon the part of those, perhaps, who are not as well endowed as are Messrs. Bloom and Co. with moral courage and confidence in the peaceful continuity of government in Salvador, this firm enjoys an excellent reputation for fair dealing65, and is well regarded throughout the country.

The Press of the Republic is well represented by some five or six daily newspapers, several weekly publications, and a number of monthly reviews. There are entirely66 free press laws existing, and on the whole there is no abuse of the privileges accorded for expressing public opinion. El Diario del Salvador was founded in July of 1894 by Se?or R. Mayorga Rivas, and is to-day conducted by the same talented journalist and cultured writer. The General Manager is Se?or J. M. Lacayo Téllez. Among its regular contributors are Se?ores J. Dols Corpe?o, a young but vigorous writer; Armando Rodriguez Portillo, who[178] is but thirty years of age; and other distinguished67 littérateurs of Salvador. El Diario Latino, of which Se?or Miguel Pinto is the Director and Proprietor33, and Se?or Juan Ramón Uriarte is the Editor, has a large and influential68 circulation, which is by no means confined to the Republic itself. El Heraldo del Salvador, which is the recognized organ of the Church, is edited by the Rev2. Dr. Eduardo Martinez Balsalobre. It is, as may be assumed, a high-class publication, and publishes occasionally some powerful literary contributions from the pens of some of the most talented writers. El Diario Oficial is the property and exponent69 of the Government, but scarcely takes rank as a newspaper, being in all respects similar to our London Gazette, with the exception that it prints daily a good service of cables.
Blanca

Government Building ("Casa Blanca"), San Salvador.
race course

Campo de Marte (Race Course), San Salvador.

Among the many weekly publications of note may be cited La Riqueza and La Vida y Verdad; La Semana Mercantil, which is the organ of the Society known as "Orden y Prosperidad"; El Franciscano, a Catholic paper conducted by a Franciscan Brother; Repertorio del Diario del Salvador, a well-illustrated70 review of literary, commercial, and social matters, and edited by a gentleman bearing the very English name of Samuel C. Dawson. This publication is, as its title may suggest, closely allied71 with the great daily paper El Diario del Salvador. Other publications are—La Razón Católica, a monthly Church organ; El Comercio del Salvador, also a monthly illustrated dealing with politics, sociology, and a variety of other subjects; En Serio y en Broma, a humorous monthly review; as well as a large number of technical prints, weekly and monthly, such as—Anales del Museo Nacional, Archivos del Hospital Rosales, Vida Intelectual, Revista[179] Judicial72, Boletín de Agricultura, Revista Cientifico-Militar, Libro Rosado do El Salvador, Boletín Municipal, Boletín del Consejo Superior de Salubridad, La Voz del Obréro, Boletín Masónico, La Buena Prensa, La Luciérnaga, and Juan de Arco.

Each of the Departments has likewise one or more daily or weekly papers, many carrying great influence among the better-class Salvadoreans, who are both diligent73 readers and intelligent critics. In Santa Ana there are El Demócrata, which was founded in 1900, and a weekly known as El Santaneco. In Chalchuapa there are two weeklies, La Vanguardia and El Patriota; in Achuachapán there is one weekly, La Nueva Era; in Sonsonate, La Prensa, also a weekly; in Santa Tecla, Don Bosco, a weekly which is the organ of the Instituto Salesiano; in Cojutepeque there are two periodicals, one weekly and one monthly, respectively known as El Imparcial and El Cuscatleco; in Suchitoto, a monthly review, La Mujer (The Woman), holds the field; in Santiago de Maria, El Anunciador; and in San Miguel, El Eco de Oriente. A fair share of local advertising74 is accorded to all of these publications, but, of a necessity, in the majority of cases the circulation is small.

There was recently formed a Central American Press Association, composed of the representatives of the principal newspapers published in the five Republics of Salvador, Guatemala, Costa Rica, Nicaragua, and Honduras. Already the news published in each State concerning the sister-Republics is full; but the new association, working by means of a mutual exchange of information fit for publication, will result in a considerably improved service being maintained. The papers which have taken the initiative in this[180] important Association are—Diario del Salvador (El Salvador), Diario de Centro América (Guatemala), Diario de Nicaragua (Nicaragua), and La República (Costa Rica). Towards the end of this year (1911) a Conference of Press Representatives is to be held in San Salvador, which is expected to be attended with considerable success, and even far-reaching consequences.

点击收听单词发音收听单词发音  

1 versus wi7wU     
prep.以…为对手,对;与…相比之下
参考例句:
  • The big match tonight is England versus Spain.今晚的大赛是英格兰对西班牙。
  • The most exciting game was Harvard versus Yale.最富紧张刺激的球赛是哈佛队对耶鲁队。
2 rev njvzwS     
v.发动机旋转,加快速度
参考例句:
  • It's his job to rev up the audience before the show starts.他要负责在表演开始前鼓动观众的热情。
  • Don't rev the engine so hard.别让发动机转得太快。
3 inevitably x7axc     
adv.不可避免地;必然发生地
参考例句:
  • In the way you go on,you are inevitably coming apart.照你们这样下去,毫无疑问是会散伙的。
  • Technological changes will inevitably lead to unemployment.技术变革必然会导致失业。
4 sufficiently 0htzMB     
adv.足够地,充分地
参考例句:
  • It turned out he had not insured the house sufficiently.原来他没有给房屋投足保险。
  • The new policy was sufficiently elastic to accommodate both views.新政策充分灵活地适用两种观点。
5 pointed Il8zB4     
adj.尖的,直截了当的
参考例句:
  • He gave me a very sharp pointed pencil.他给我一支削得非常尖的铅笔。
  • She wished to show Mrs.John Dashwood by this pointed invitation to her brother.她想通过对达茨伍德夫人提出直截了当的邀请向她的哥哥表示出来。
6 invoice m4exB     
vt.开发票;n.发票,装货清单
参考例句:
  • The seller has to issue a tax invoice.销售者必须开具税务发票。
  • We will then send you an invoice for the total course fees.然后我们会把全部课程费用的发票寄给你。
7 shipping WESyg     
n.船运(发货,运输,乘船)
参考例句:
  • We struck a bargain with an American shipping firm.我们和一家美国船运公司谈成了一笔生意。
  • There's a shipping charge of £5 added to the price.价格之外另加五英镑运输费。
8 consul sOAzC     
n.领事;执政官
参考例句:
  • A consul's duty is to help his own nationals.领事的职责是帮助自己的同胞。
  • He'll hold the post of consul general for the United States at Shanghai.他将就任美国驻上海总领事(的职务)。
9 consular tZMyq     
a.领事的
参考例句:
  • He has rounded out twenty years in the consular service. 他在领事馆工作已整整20年了。
  • Consular invoices are declarations made at the consulate of the importing country. 领事发票是进口国领事馆签发的一种申报书。
10 entrusting 1761636a2dc8b6bfaf11cc7207551342     
v.委托,托付( entrust的现在分词 )
参考例句:
  • St. Clare had just been entrusting Tom with some money, and various commissions. 圣?克莱亚刚交给汤姆一笔钱,派他去办几件事情。 来自辞典例句
  • The volume of business does not warrant entrusting you with exclusive agency at present. 已完成的营业额还不足以使我方目前委托你方独家代理。 来自外贸英语口语25天快训
11 remittance zVzx1     
n.汇款,寄款,汇兑
参考例句:
  • Your last month's salary will be paid by remittance.最后一个月的薪水将通过汇寄的方式付给你。
  • A prompt remittance would be appreciated.速寄汇款不胜感激。
12 payable EmdzUR     
adj.可付的,应付的,有利益的
参考例句:
  • This check is payable on demand.这是一张见票即付的支票。
  • No tax is payable on these earnings.这些收入不须交税。
13 mutual eFOxC     
adj.相互的,彼此的;共同的,共有的
参考例句:
  • We must pull together for mutual interest.我们必须为相互的利益而通力合作。
  • Mutual interests tied us together.相互的利害关系把我们联系在一起。
14 undoubtedly Mfjz6l     
adv.确实地,无疑地
参考例句:
  • It is undoubtedly she who has said that.这话明明是她说的。
  • He is undoubtedly the pride of China.毫无疑问他是中国的骄傲。
15 indirectly a8UxR     
adv.间接地,不直接了当地
参考例句:
  • I heard the news indirectly.这消息我是间接听来的。
  • They were approached indirectly through an intermediary.通过一位中间人,他们进行了间接接触。
16 liquidate I3OyM     
v.偿付,清算,扫除;整理,破产
参考例句:
  • A unanimous vote was taken to liquidate the company.全体投票一致通过停业清理公司。
  • They have not hesitated in the past to liquidate their rivals.过去他们曾毫不犹豫地铲除对手。
17 ledger 014xk     
n.总帐,分类帐;帐簿
参考例句:
  • The young man bowed his head and bent over his ledger again.那个年轻人点头应诺,然后又埋头写起分类帐。
  • She is a real accountant who even keeps a detailed household ledger.她不愧是搞财务的,家庭分类账记得清楚详细。
18 sanctimonious asCy4     
adj.假装神圣的,假装虔诚的,假装诚实的
参考例句:
  • It's that sanctimonious air that people can't stand.人们所不能容忍的就是那副假正经的样子。
  • You do not have to be so sanctimonious to prove that you are devout.您不必如此伪善。
19 strictly GtNwe     
adv.严厉地,严格地;严密地
参考例句:
  • His doctor is dieting him strictly.他的医生严格规定他的饮食。
  • The guests were seated strictly in order of precedence.客人严格按照地位高低就座。
20 conscientious mYmzr     
adj.审慎正直的,认真的,本着良心的
参考例句:
  • He is a conscientious man and knows his job.他很认真负责,也很懂行。
  • He is very conscientious in the performance of his duties.他非常认真地履行职责。
21 averse 6u0zk     
adj.厌恶的;反对的,不乐意的
参考例句:
  • I don't smoke cigarettes,but I'm not averse to the occasional cigar.我不吸烟,但我不反对偶尔抽一支雪茄。
  • We are averse to such noisy surroundings.我们不喜欢这么吵闹的环境。
22 unctuously af46277c63f620a2ec83f32e5a16086e     
adv.油腻地,油腔滑调地;假惺惺
参考例句:
23 adverting fc049c2c996a54abe56f0e17ede7141a     
引起注意(advert的现在分词形式)
参考例句:
  • He set up several adverting consultancy business in the UK. 他在英国建立了好几家广告咨询公司。
  • NOTES: 1. The trust unit must be responsible for the adverting content of legalization and authenticity. 附注:1。刊户对所刊登广告内容的合法性、真实性负责。
24 consignments 9a63234ebc69137442849f91f971f17f     
n.托付货物( consignment的名词复数 );托卖货物;寄售;托运
参考例句:
  • Police have seized several consignments of pornography. 警方没收了好几批运来的色情物品。 来自《简明英汉词典》
  • I want you to see for yourself how our consignments are cleared in London. 我要你亲自去看看我们的货物在伦敦是怎样结关的。 来自辞典例句
25 retail VWoxC     
v./n.零售;adv.以零售价格
参考例句:
  • In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
  • These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。
26 concessions 6b6f497aa80aaf810133260337506fa9     
n.(尤指由政府或雇主给予的)特许权( concession的名词复数 );承认;减价;(在某地的)特许经营权
参考例句:
  • The firm will be forced to make concessions if it wants to avoid a strike. 要想避免罢工,公司将不得不作出一些让步。
  • The concessions did little to placate the students. 让步根本未能平息学生的愤怒。
27 concession LXryY     
n.让步,妥协;特许(权)
参考例句:
  • We can not make heavy concession to the matter.我们在这个问题上不能过于让步。
  • That is a great concession.这是很大的让步。
28 fluctuations 5ffd9bfff797526ec241b97cfb872d61     
波动,涨落,起伏( fluctuation的名词复数 )
参考例句:
  • He showed the price fluctuations in a statistical table. 他用统计表显示价格的波动。
  • There were so many unpredictable fluctuations on the Stock Exchange. 股票市场瞬息万变。
29 intervals f46c9d8b430e8c86dea610ec56b7cbef     
n.[军事]间隔( interval的名词复数 );间隔时间;[数学]区间;(戏剧、电影或音乐会的)幕间休息
参考例句:
  • The forecast said there would be sunny intervals and showers. 预报间晴,有阵雨。
  • Meetings take place at fortnightly intervals. 每两周开一次会。
30 baneful EuBzC     
adj.有害的
参考例句:
  • His baneful influence was feared by all.人们都担心他所造成的有害影响。
  • Lower share prices have baneful effect for companies too.更低的股价同样会有损各企业。
31 fully Gfuzd     
adv.完全地,全部地,彻底地;充分地
参考例句:
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气,然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。
32 nominal Y0Tyt     
adj.名义上的;(金额、租金)微不足道的
参考例句:
  • The king was only the nominal head of the state. 国王只是这个国家名义上的元首。
  • The charge of the box lunch was nominal.午餐盒饭收费很少。
33 proprietor zR2x5     
n.所有人;业主;经营者
参考例句:
  • The proprietor was an old acquaintance of his.业主是他的一位旧相识。
  • The proprietor of the corner grocery was a strange thing in my life.拐角杂货店店主是我生活中的一个怪物。
34 proprietors c8c400ae2f86cbca3c727d12edb4546a     
n.所有人,业主( proprietor的名词复数 )
参考例句:
  • These little proprietors of businesses are lords indeed on their own ground. 这些小业主们,在他们自己的行当中,就是真正的至高无上的统治者。 来自英汉文学 - 嘉莉妹妹
  • Many proprietors try to furnish their hotels with antiques. 许多经营者都想用古董装饰他们的酒店。 来自辞典例句
35 remitted 3b25982348d6e76e4dd90de3cf8d6ad3     
v.免除(债务),宽恕( remit的过去式和过去分词 );使某事缓和;寄回,传送
参考例句:
  • She has had part of her sentence remitted. 她被免去部分刑期。 来自《简明英汉词典》
  • The fever has remitted. 退烧了。 来自《现代英汉综合大词典》
36 premium EPSxX     
n.加付款;赠品;adj.高级的;售价高的
参考例句:
  • You have to pay a premium for express delivery.寄快递你得付额外费用。
  • Fresh water was at a premium after the reservoir was contaminated.在水库被污染之后,清水便因稀而贵了。
37 quotations c7bd2cdafc6bfb4ee820fb524009ec5b     
n.引用( quotation的名词复数 );[商业]行情(报告);(货物或股票的)市价;时价
参考例句:
  • The insurance company requires three quotations for repairs to the car. 保险公司要修理这辆汽车的三家修理厂的报价单。 来自《简明英汉词典》
  • These quotations cannot readily be traced to their sources. 这些引语很难查出出自何处。 来自《现代汉英综合大词典》
38 favourable favourable     
adj.赞成的,称赞的,有利的,良好的,顺利的
参考例句:
  • The company will lend you money on very favourable terms.这家公司将以非常优惠的条件借钱给你。
  • We found that most people are favourable to the idea.我们发现大多数人同意这个意见。
39 remitting 06465b38338ec4ef6d55c24bc4cffefb     
v.免除(债务),宽恕( remit的现在分词 );使某事缓和;寄回,传送
参考例句:
  • You should fill in the money order carefully before remitting money. 在办理汇款业务前,应准确填写汇款单。
  • Please wait for invoice detailing shipping costs before remitting your payment. 汇款前请为您的付款详细运费发票等。
40 banking aySz20     
n.银行业,银行学,金融业
参考例句:
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
41 hesitation tdsz5     
n.犹豫,踌躇
参考例句:
  • After a long hesitation, he told the truth at last.踌躇了半天,他终于直说了。
  • There was a certain hesitation in her manner.她的态度有些犹豫不决。
42 binding 2yEzWb     
有约束力的,有效的,应遵守的
参考例句:
  • The contract was not signed and has no binding force. 合同没有签署因而没有约束力。
  • Both sides have agreed that the arbitration will be binding. 双方都赞同仲裁具有约束力。
43 insistently Iq4zCP     
ad.坚持地
参考例句:
  • Still Rhett did not look at her. His eyes were bent insistently on Melanie's white face. 瑞德还是看也不看她,他的眼睛死死地盯着媚兰苍白的脸。
  • These are the questions which we should think and explore insistently. 怎样实现这一主体性等问题仍要求我们不断思考、探索。
44 solicited 42165ba3a0defc35cb6bc86d22a9f320     
v.恳求( solicit的过去式和过去分词 );(指娼妇)拉客;索求;征求
参考例句:
  • He's already solicited their support on health care reform. 他已就医疗改革问题请求他们的支持。 来自辞典例句
  • We solicited ideas from Princeton University graduates and under graduates. 我们从普林斯顿大学的毕业生与大学生中征求意见。 来自辞典例句
45 courteous tooz2     
adj.彬彬有礼的,客气的
参考例句:
  • Although she often disagreed with me,she was always courteous.尽管她常常和我意见不一,但她总是很谦恭有礼。
  • He was a kind and courteous man.他为人友善,而且彬彬有礼。
46 treasuries 506f29b3521f9522ba67d6c04ba661f5     
n.(政府的)财政部( treasury的名词复数 );国库,金库
参考例句:
  • Yields on Treasuries, Bunds and gilts can remain at historically low levels. 美国国债、德国国债和英国国债的收益率仍然可以维持在历史低位。 来自互联网
  • Treasuries and gold rose in response but the dollar fell sharply. 接着,国债和黄金的价格上涨,而美元价格则猛跌。 来自互联网
47 solvency twcw5     
n.偿付能力,溶解力
参考例句:
  • Fears about the solvency of the banks precipitated the great economic crash.对银行偿付能力出现恐慌更加速了经济的崩溃。
  • Their targets,including profitability ratios,solvency ratios,asset management ratios.其指标包括盈利比率、偿债能力比率、资产管理比率。
48 prospective oR7xB     
adj.预期的,未来的,前瞻性的
参考例句:
  • The story should act as a warning to other prospective buyers.这篇报道应该对其他潜在的购买者起到警示作用。
  • They have all these great activities for prospective freshmen.这会举办各种各样的活动来招待未来的新人。
49 subscribed cb9825426eb2cb8cbaf6a72027f5508a     
v.捐助( subscribe的过去式和过去分词 );签署,题词;订阅;同意
参考例句:
  • It is not a theory that is commonly subscribed to. 一般人并不赞成这个理论。 来自《简明英汉词典》
  • I subscribed my name to the document. 我在文件上签了字。 来自《简明英汉词典》
50 ordeal B4Pzs     
n.苦难经历,(尤指对品格、耐力的)严峻考验
参考例句:
  • She managed to keep her sanity throughout the ordeal.在那场磨难中她始终保持神志正常。
  • Being lost in the wilderness for a week was an ordeal for me.在荒野里迷路一星期对我来说真是一场磨难。
51 turnover nfkzmg     
n.人员流动率,人事变动率;营业额,成交量
参考例句:
  • The store greatly reduced the prices to make a quick turnover.这家商店实行大减价以迅速周转资金。
  • Our turnover actually increased last year.去年我们的营业额竟然增加了。
52 dividend Fk7zv     
n.红利,股息;回报,效益
参考例句:
  • The company was forced to pass its dividend.该公司被迫到期不分红。
  • The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增长了近 4%。
53 shareholders 7d3b0484233cf39bc3f4e3ebf97e69fe     
n.股东( shareholder的名词复数 )
参考例句:
  • The meeting was attended by 90% of shareholders. 90%的股东出席了会议。
  • the company's fiduciary duty to its shareholders 公司对股东负有的受托责任
54 transacted 94d902fd02a93fefd0cc771cd66077bc     
v.办理(业务等)( transact的过去式和过去分词 );交易,谈判
参考例句:
  • We transacted business with the firm. 我们和这家公司交易。 来自《简明英汉词典》
  • Major Pendennis transacted his benevolence by deputy and by post. 潘登尼斯少校依靠代理人和邮局,实施着他的仁爱之心。 来自辞典例句
55 metallic LCuxO     
adj.金属的;金属制的;含金属的;产金属的;像金属的
参考例句:
  • A sharp metallic note coming from the outside frightened me.外面传来尖锐铿锵的声音吓了我一跳。
  • He picked up a metallic ring last night.昨夜他捡了一个金属戒指。
56 considerably 0YWyQ     
adv.极大地;相当大地;在很大程度上
参考例句:
  • The economic situation has changed considerably.经济形势已发生了相当大的变化。
  • The gap has narrowed considerably.分歧大大缩小了。
57 precisely zlWzUb     
adv.恰好,正好,精确地,细致地
参考例句:
  • It's precisely that sort of slick sales-talk that I mistrust.我不相信的正是那种油腔滑调的推销宣传。
  • The man adjusted very precisely.那个人调得很准。
58 withheld f9d7381abd94e53d1fbd8a4e53915ec8     
withhold过去式及过去分词
参考例句:
  • I withheld payment until they had fulfilled the contract. 他们履行合同后,我才付款。 来自《简明英汉词典》
  • There was no school play because the principal withheld his consent. 由于校长没同意,学校里没有举行比赛。 来自《简明英汉词典》
59 omission mjcyS     
n.省略,删节;遗漏或省略的事物,冗长
参考例句:
  • The omission of the girls was unfair.把女孩排除在外是不公平的。
  • The omission of this chapter from the third edition was a gross oversight.第三版漏印这一章是个大疏忽。
60 inventoried 87c2ab37b2bcf75f30fe5ebedd70b589     
vt.编制…的目录(inventory的过去式与过去分词形式)
参考例句:
  • These items have not been inventoried yet. 这些物品尚未编入目录。 来自互联网
  • The broker inventoried the bankrupt company and offered the buyer a reasonable price. 代理人将这家破产公司的财产编录清单,向买家提出了合理的价格。 来自互联网
61 remarkable 8Vbx6     
adj.显著的,异常的,非凡的,值得注意的
参考例句:
  • She has made remarkable headway in her writing skills.她在写作技巧方面有了长足进步。
  • These cars are remarkable for the quietness of their engines.这些汽车因发动机没有噪音而不同凡响。
62 prospects fkVzpY     
n.希望,前途(恒为复数)
参考例句:
  • There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
  • They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。
63 sterling yG8z6     
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑)
参考例句:
  • Could you tell me the current rate for sterling, please?能否请您告诉我现行英国货币的兑换率?
  • Sterling has recently been strong,which will help to abate inflationary pressures.英国货币最近非常坚挺,这有助于减轻通胀压力。
64 purely 8Sqxf     
adv.纯粹地,完全地
参考例句:
  • I helped him purely and simply out of friendship.我帮他纯粹是出于友情。
  • This disproves the theory that children are purely imitative.这证明认为儿童只会单纯地模仿的理论是站不住脚的。
65 dealing NvjzWP     
n.经商方法,待人态度
参考例句:
  • This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
  • His fair dealing earned our confidence.他的诚实的行为获得我们的信任。
66 entirely entirely     
ad.全部地,完整地;完全地,彻底地
参考例句:
  • The fire was entirely caused by their neglect of duty. 那场火灾完全是由于他们失职而引起的。
  • His life was entirely given up to the educational work. 他的一生统统献给了教育工作。
67 distinguished wu9z3v     
adj.卓越的,杰出的,著名的
参考例句:
  • Elephants are distinguished from other animals by their long noses.大象以其长长的鼻子显示出与其他动物的不同。
  • A banquet was given in honor of the distinguished guests.宴会是为了向贵宾们致敬而举行的。
68 influential l7oxK     
adj.有影响的,有权势的
参考例句:
  • He always tries to get in with the most influential people.他总是试图巴结最有影响的人物。
  • He is a very influential man in the government.他在政府中是个很有影响的人物。
69 exponent km8xH     
n.倡导者,拥护者;代表人物;指数,幂
参考例句:
  • She is an exponent of vegetarianism.她是一个素食主义的倡导者。
  • He had been the principal exponent of the Gallipoli campaign.他曾为加里波利战役的主要代表人物。
70 illustrated 2a891807ad5907f0499171bb879a36aa     
adj. 有插图的,列举的 动词illustrate的过去式和过去分词
参考例句:
  • His lecture was illustrated with slides taken during the expedition. 他在讲演中使用了探险时拍摄到的幻灯片。
  • The manufacturing Methods: Will be illustrated in the next chapter. 制作方法将在下一章说明。
71 allied iLtys     
adj.协约国的;同盟国的
参考例句:
  • Britain was allied with the United States many times in history.历史上英国曾多次与美国结盟。
  • Allied forces sustained heavy losses in the first few weeks of the campaign.同盟国在最初几周内遭受了巨大的损失。
72 judicial c3fxD     
adj.司法的,法庭的,审判的,明断的,公正的
参考例句:
  • He is a man with a judicial mind.他是个公正的人。
  • Tom takes judicial proceedings against his father.汤姆对他的父亲正式提出诉讼。
73 diligent al6ze     
adj.勤勉的,勤奋的
参考例句:
  • He is the more diligent of the two boys.他是这两个男孩中较用功的一个。
  • She is diligent and keeps herself busy all the time.她真勤快,一会儿也不闲着。
74 advertising 1zjzi3     
n.广告业;广告活动 a.广告的;广告业务的
参考例句:
  • Can you give me any advice on getting into advertising? 你能指点我如何涉足广告业吗?
  • The advertising campaign is aimed primarily at young people. 这个广告宣传运动主要是针对年轻人的。


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