Consols

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CONSOLS, Eng. law. This is an abbreviation for consolidated annuities. Formerly when a loan was made, authorized by government, a particular part of the revenue was appropriated for the payment of the interest and of the principal. This was called the fund, and every loan had its fund. In this manner the Aggregate fund originated in 1715; the South Sea fund, in 1717; the General fund, 1617 and the Sinking fund, into which the surplus of these three funds flowed, which, although destined for the diminution of the national debt, was applied to the necessities of the government. These four funds were consolidated into one in the year 1787, under the name of consolidated fund.
     2. The income arises from the receipts on account of excise, customs, stamps, and other, perpetual taxes. The charges on it are the interest on and the redemption of the public debt; the civil list; the salaries of the judges and officers of state, and the like.
     3. The annual grants on account of the army and navy, and every part of the revenue which is considered temporary, are excluded from this fund.
     4. Those persons who lent the money to the government, or their assigns, are entitled to an annuity of three per cent on the amount lent, which, however, is not to be returned, except at the option of the government so that the holders of consols are simply annuitants.

References in periodicals archive ?
5 million tons of our Northern App coal going down into the Southeastern markets," said CONSOL Chief Commercial Officer James Grech.
The mine, which CONSOL acquired in 2000, operated in the Pocahontas No.
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The mine, operated by CONSOL Energy's Consolidation Coal Company subsidiary, will be idled for at least one month, allowing the mine to balance coal production with expected customer shipping schedules to prevent coal inventories from increasing.
A spokeswoman for Consol Suncenters said: "During our short 30p-per-minute offer in October, any customer using our studios will do so in the safest possible tanning environment in Wales.
One of my best jobs was at CONSOL, due to the breadth of responsibility and quality of people I worked with.
Consol Energy and American Electric Power (AEP) have entered into a memorandum of understanding regarding the proposed sale of AEP's affiliate mines in Ohio and West Virginia to Consol.
BRETT HARVEY, CEO of CONSOL ENERGY INC (CNX), describes the company's business and its background; prospects for the industry, with positive and negative trends; competitive threats; strategic opportunities for the firm including its marketing plans and acquisition potential; management strength and organization; and the financial prospects of the firm looking forward.
Linde North America, a global leader in the growing liquefied natural gas (LNG) fueling market, today announced that CONSOL Energy Inc.
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3 August 2016 - US-based energy producer Consol Energy Inc.