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Simple English definitions for legal terms
National Quotation Bureau
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A quick definition of National Quotation Bureau:
The National Quotation Bureau is a company that tells people how much different stocks are worth every day. They publish this information in something called "pink sheets."
The National Railroad Passenger Corporation is a special company created by the government to run trains that take people from one city to another. They don't own all the tracks they use, but they do own or rent the train stations. You might hear people call this company "Amtrak."
A more thorough explanation:
The National Quotation Bureau is a company that publishes daily price quotations, also known as pink sheets, of over-the-counter securities. These securities are not listed on major stock exchanges and are often traded through brokers or dealers.
For example, if you wanted to buy shares of a small company that is not listed on a major stock exchange, you might consult the National Quotation Bureau's pink sheets to see the current price of those shares.
The National Railroad Passenger Corporation, also known as Amtrak, is a federally chartered corporation created by the Rail Passenger Service Act of 1970. Its purpose is to provide intercity rail passenger service in the United States.
Amtrak owns or leases railroad stations and operates passenger trains over tracks that are owned by other companies. For example, if you wanted to travel from New York City to Washington D.C. by train, you might take an Amtrak train that runs on tracks owned by companies like CSX or Norfolk Southern.