Undermargin

"In a valve of the type herein described, the combination of a valve casing provided with a partition dividing its interior into an inlet chamber, an outlet chamber and a piston chamber, the piston chamber having a lower portion of greater area than its upper portion, the said partition having a passage connecting the inlet and outlet chambers, the undermargin of said passage being formed into a valve seat, a restricted passage in the aforesaid partition connecting the inlet chamber with the lower end of the piston chamber, a piston valve disposed in said piston chamber and having upper and lower portions corresponding in diameter to that of the upper and lower portions of the piston chamber and moving therein, ...."

"On the undermargin stands the inscription: "Abolish the Tsing, exterminate the Manchoos.”"

"In the instant case, it should be noted that the petitioner did not know the exact abount of its undermargin, and that even after its request for a statement of account, it was only some three months thereafter that private respondents were able to comply."

"In view of the second aspect of its control function, the Federal Reserve Board prohibits, with specified limited exceptions, the wisthdrawal of securities from general accounts where such withdrawals would undermargin such accounts."

"Finally, exchanges need to be wary of adverse selection — positions that are undermargined would be heavily used while those that are overmargined would be less popular."