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( iv) IUl ln4l!tf,(!1,1nOM er...~i u a ref-.uH of ""rf iOl'l!8 r-.nde.1'Itd
<Jr prNHil'(}j !'f!nt~ Of ('It"O&~ ~ a. i't'$ult i1f ~ ()f M(('uriU..
~!)hl in a t.;Aah tn.nMt1..KU1, ... ,~An<<i 1\l ~ \ 14.01,
(t) L~e i)wn~r.hip of .took or of Qtbisr IMUri~ <It a oor.
pO'l\tinn or<<AIli~i under th~ provit.lona of s.etlQU ~ (i1) of ~
Ad app;'/)ved r~lll~r 23, 1913, ImCwtl U ttM F~I!IdClr-a.\ ~Yerv~
Ad, IU JUnond'-"\l, ~..h.icli i. dir~U)- (}r indi~ly .. oreditor of t.he
(~{Jrul~ny (I!' Any oth~r obliior up;::m t.bfl Botads i.\l~ lmd.r this
lndt'ntnrt'j Qf
(d) Uw l1('-qui~itiot\. ownnship, ~Vunoo (If neogou.tiou of
any Jan,. bills of ~xeha.nge, ~pta~ or oblipUou, .hinb
f&.H within th~ cl~itk..t!o1\ fJf ~lfcliquid.atit\g pi\p6f, ~ def\n&t\
in thil'! ~ H-M.
Th~ wont "i~cvn4y" or "$ccvriliu", U u.ed in \his Hwbtf"...,i(}ft
l/), !'!h..U have th~ meaning uf.iptd to t.h.& uid term in th. S+euritlH
Aet of 1933, ... i.t! dfool on the daw of thie lndfmtnre.
'i", t ",;L t d'" __~..l!; !... e,..1LJ'" (f'
~r.e ~nll cd.~n ro"'&::'l''t~ 1 U Q-.a .n tull o_rt~ ),
mU1Uli AilY tf~n"cHQn in which full pay-mellt for good. or Nmilritl~a
Iu,.!d i. mid~ within ~ve-n day. a..~r dalivuy of the good. or M('SfJf'l.
tiN~ in ('un-tmey or In (",n"eb (If other Qrden drAwu npon bank8 01'
imnken'l (ann i-,..yllolil up(m dtJma.Dd.
The term "scJfi~1"~4~ pafH',.", M u.wa in thiA 8M-Mi~ij).
(t). t.U~.aW~ any dralt, bill q! ~lohange, ~pi&UM or nhh.gati(.Ifi whi~
i!t int\(l!', d.a'l'!:n, Mj{otiat€'il or iiK'UrH-tl hy lh~l (}tJligor for the 'Pur.
po~e of ftnancinK th~ purc.b.ue, Jlr(~4.itill ruAntiflt.\!tu~, 3hipmeflt,
BtJ,)rll{(~ or llale uf J(V'Y<b. WlHf~ Of men'.hAndilMl and ..hien i~ ~~
hi' dOCllnwntit eYid(i'nl\ing tiU~ to, r~"",iQ'lt of (Jl' li1.'U upon tM
fl;i)i){i?!, WU(!!5 or rnf.'r<"lumd;~} c,r the r~~ivJi,bl~ or pr~i "rUi.n~
from 1nl" ~1\J of t.h.o g(.X.~, WarN! And inercla:ndi.le pr~?iotu~17 oon..
g\ituting th~ H<iUrity, pro....id~1 th(. lM!ieurity i8 ~iv~ by ~ T-rUt\4
t~{j ~imuit~n~-(Ju~!y with the o",AtiQ~ of th~ ~rtiditQr f"'iati<mahip
with t.he ohiiJ{or !toriaing from U~f.j Il\l"kiug, drawing, n~~tiati:ng ('IT
incurrinK (If th(~ dfaf~ hin td ex~hi\nW8, aN~fltA~ or ohl~\if)n<
(9) pf"(H~iiJ"MS mii/ie 4pplie,'lb!f tu ""lOfW'! Co,Trt<i.stte. Tho
p!(;vi!!j(}i1~ of thi~ ~ 14.0;i whieh hili'l6 beN1 rna.d~ "r~i&~Hy .pp1i-
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