whole stock, but also on the time during which his stock was invested. Take the following sum as an illustration :

13. Three merchants traded in company. A. put in $120 for 10 months; B., $100 for 18 months; and C., $150 for 5 months. They gained $100. What was each man's share? A's, $120 for 10 months = $120×10=$1200 for one month; B's, $100 for 18 months-$100×18=$1800 for one month; and C's, $150 for 5 months=$150×5=$750 for one month. Therefore, $1200+$1800+$750=$3750, and 3750: 1200:: 100 A's share, or $32. 3750: 1800:100: B's share, or $48; and 3750: 750 :: 100: C's, share, or $20.

Hence, when the time of investment of the several shares differs:

RULE.-Multiply each man's stock by the time during which he continued in trade, and use the several products as directed in the preceding rule to use the several shares of the whole stock.

14. A., B., and C., hold a pasture in common, for which they pay 30 £. per annum. In this pasture, A. has 40 oxen for 75 days; B., 45 oxen for 50 days; and C., 50 oxen for 90 days. What part of the 30 £. ought each to pay? Ans. A., 9 £.4s. 7 d.; B., 6 £. 18 s. 5 d.; and C., 13 £. 16 s. 11, d.

15. Three men enter into partnership on the following terms: A. invests $1500 for 5 months; B., $1800 for 6 months; and C., $2000 for 8 months. During the continuance of their partnership they sustain a loss of $1000. What is each man's share of the loss? Ans, A's loss is $218.658; B's, $314.868; and C's, $466.472.

16. E. and S. enter into partnership for one year. E. at first advances $480, and B. puts in his share 3 months after. How much must he advance to be entitled to an equal share of the gain at the expiration of one year? Ans. $640.

17. Two merchants trading in company gain $200. A's stock was $220 for 6 months, and B's, $380 for 9 months. How ought they to share the gain? Ans. A's portion is $55.696; B's, $144.304.

18. Two men commenced trading in company on Jan. 1st, 1825. A. advanced $1000 at the time specified; but B., finding it inconvenient, did not advance his share till the first of May following. At the end of the year they shared the profits equally. What capital did B. advance? Ans. $1500.

19. A. and B. traded in company. A. put in $1200; B. advanced his share 3 months after. What sum was it necessary for him to advance so as to be entitled to one half of the profit at the expiration of one year? Ans. $1600.

20. L., M., and N., entered into partnership; L. advanced $300 for 3 years; 6 months after, M. put in $450; and 6 months after M. put in his share, N. put in $520. At the expiration of 3 years, they found they had cleared $900. What was each man's share? Ans. L's, $264.274; M's share, $330.342; and N's, $305.383.

QUESTIONS.-What is Partnership? What are the individuals trading in company called? What does the money advanced by the company form? What is the money they receive on their several shares called? What is the rule for operating when each man's stock is employed for the same period of time? What is the rule for canceling? When all the shares are not continued for the same period of time, on what will each man's share of the profit and loss depend? What is the rule?

COMMERCIAL EXCHANGE.

Under this rule are included the operations of purchasing goods in one country, in the currency of that country, and selling them at wholesale or retail in the currency of another country, so as to give or lose some required per cent.

To reduce a foreign currency to federal money, multiply the given money of that currency by the value of its unit in federal money, as given in the preceding tables.

If, however, it be required to find how goods, the value of which is given in a foreign currency, must be sold in federal money, to gain or lose a given per cent., first change the foreign currency to federal money, and calculate the gain or loss on this by the rules already given. The retail price of any denomination, as cwt., lb., yd., gal., &c., may then be found by division.

Ex. 1. Purchased in London 360 yards of broadcloth, which cost me, including transportation, 300 £. sterling; how must I sell the same per yard, in federal money, to make a profit of 20 per cent.?