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clearing

(Encyclopedia)clearing, in banking, the periodic settling of bankers' claims against each other, for which local banks establish clearinghouse associations. Clearinghouses are said to have existed in Florence by a....

draft, in banking

(Encyclopedia)draft, in banking, order by one party to another party to pay a stated sum to the person or firm in whose favor the draft is made. It is similar in form to the ordinary bank check. Often the drawer an...

Stiglitz, Joseph Eugene

(Encyclopedia)Stiglitz, Joseph Eugene, 1943–, American economist, b. Gary, Ind., Ph.D. Massachusetts Institute of Technology, 1967. He has taught at a number of educational institutions, including Stanford (1974�...

Wriston, Walter Bigelow

(Encyclopedia)Wriston, Walter Bigelow, 1919–2005, American banker, b. Middletown, Conn., grad. Wesleyan (B.A., 1941); Fletcher School, Tufts Univ. (M.A., 1942). Widely considered the most important and influentia...

Pyramus and Thisbe

(Encyclopedia)Pyramus and Thisbe pĭrˈəməs, thĭzˈbē [key], in classical mythology, youth and maiden of Babylon, whose parents opposed their marriage. Their homes adjoined, and they conversed through a crevice...

quinidine

(Encyclopedia)quinidine kwĭnˈĭdēnˌ [key], heart muscle relaxant used to maintain regular heart rhythm patterns. It is an alkaloid chemically similar to quinine and, like quinine, occurs naturally in some speci...

capillary

(Encyclopedia)capillary kăpˈəlĕrˌē [key], microscopic blood vessel, smallest unit of the circulatory system. Capillaries form a network of tiny tubes throughout the body, connecting arterioles (smallest arter...

Law, John

(Encyclopedia)Law, John, 1671–1729, Scottish financier in France, b. Edinburgh. After killing a man in a duel (1694) he fled to Amsterdam, where he studied banking. Returning to Scotland (1700), he proposed to Pa...

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