As code words are primarily to save expense, when one word will express the meaning, I leave that for you to write in your despatch in plain english instead of using a code word for it.
| Moonstone | Broomhall quotes Liverpool Wheat. |
| Moralist | Broomhall quotes Liverpool Corn. |
| Mordant | Broomhall quotes London Wheat. |
| Morgue | Broomhall quotes London Corn. |
| Mormon | Broomhall quotes Mark Lane Wheat. |
| Morphia | Broomhall quotes Mark Lane Corn. |
| Morphine | Broomhall quotes English country markets. |
| Mortuary | Broomhall quotes Paris Wheat. |
| Mosaic | Broomhall quotes French country markets. |
| Moslem | Broomhall quotes Antwerp Wheat. |
| Mosquito | Broomhall quotes Odessa Wheat. |
| Mountain | Broomhall quotes cargoes off coast Wheat. |
| Mounted | Broomhall quotes cargoes off coast Corn. |
| Movable | Broomhall quotes Argentina market. |
| Mucilage | Broomhall quotes weather in England. |
| Mulberry | Broomhall quotes weather in France. |
| Multiplex | Broomhall quotes weather on Continent. |
| Multitude | Broomhall quotes weather in Argentina. |
| Mumble | Broomhall quotes weather in Russia. |
| Mummy | Broomhall quotes weather in Australia. |
| Mumps | Broomhall quotes weather in India. |
| Murmur | Broomhall quotes Buenos Aires Wheat. |
| Muscatel | Broomhall quotes Berlin Wheat. |
| Mushroom | Broomhall quotes Budapest Wheat. |
| Music | Broomhall quotes ____ |
| Musket | Stocks in ____ large. |
| Musketry | Stocks in ____ increasing. |
| Muskox | Stocks in ____ decreasing. |
| Muskrat | Stocks in ____ small. |
| Mustang | Heavy shipments from ____ |
| Mutely | Light shipments from ____ |
| Muteness | Prospects large crops. |
| Mutiscope | Crop prospects poor. |
| Myth | . . . . . . |
| Mythology | . . . . . . |
| Mystified | . . . . . . |
| Mythologist | . . . . . . |
| Naked | Draft returned refused. |
| Nakedly | Bank wires Draft refused. |
| Nakedness | Bank has no advice of payment Draft. |
| Nameless | Draft was drawn. |
| Namely | Cannot draw Drafts payable on arrival. |
| Narcotic | Send Draft to ____ |
| Narrate | Have Bank present Draft again. |
| Narrating | Draw on us for difference. |
| Nativity | Pay Draft if not right will adjust difference. |
| Nattily | Your draft is paid. |
| Naughty | Will honor your Draft on us. |
| Nausea | Draw at sight with all documents attached. |
| Nautical | Draw on demand with all documents attached |
| Navigator | Must pay for property. |
| Nebulous | Referring to your letter of ____ |
| Nepotism | Referring to our letter of ____ |
| Nickname | Referring to your wire of ____ |
| Nicotine | Referring to our wire of ____ |
| Nimbus | Referring to your contract of ____ |
| Nobleness | Referring to our contract of ____ |
| Nocturne | . . . . . . |
| Nodular | . . . . . . |
| Nodule | . . . . . . |
| Nomad | . . . . . . |
| Nomadic | . . . . . . |
| Nonplus | . . . . . . |
| Nostrum | . . . . . . |
| Novice | . . . . . . |
| Noxious | . . . . . . |
| Numeral | . . . . . . |
| Nuptual | . . . . . . |
| Oath | Quote Ups and Downs on Wheat. |
| Oblate | Quote Ups and Downs on Corn. |
| Oblation | Quote Ups and Downs on Oats. |
| Obscurely | Buy Ups on ____ Wheat. |
| Obtrude | Buy Ups on ____ Corn. |
| Obtusely | Buy Ups on ____ Oats. |
| Octave | Buy Downs on ____ Wheat. |
| Octopus | Buy Downs on ____ Corn. |
| Oddity | Buy Downs on ____ Oats. |
| Olivet | Sell Ups on ____ Wheat. |
| Olympic | Sell Ups on ____ Corn. |
| Omelet | Sell Ups on ____ Oats. |
| Onwardly | Sell Downs on ____ Wheat. |
| Opossum | Sell Downs on ____ Corn. |
| Opponent | Sell Downs on ____ Oats. |
| Opposite | Have Bought Ups on ____ Wheat. |
| Oppress | Have Bought Ups on ____ Corn. |
| Oppressed | Have Bought Ups on ____ Oats. |
| Optimist | Have Bought Downs on ____ Wheat. |
| Orphan | Have Bought Downs on ____ Corn. |
| Orphanage | Have Bought Downs on ____ Oats. |
| Ovation | Have Sold Ups on ____ Wheat. |
| Overture | Have Sold Ups on ____ Corn. |
| Pacify | Have Sold Ups on ____ Oats. |
| Padrone | Have Sold Downs on ____ Wheat. |
| Pagoda | Have Sold Downs on ____ Corn. |
| Pajamas | Have Sold Downs on ____ Oats. |
| Palmist | Expiring this week. |
| Palmistry | Expiring next week. |
| Panoply | Expiring this month. |
| Pansy | Good till the end of ____ |
| Pantaloon | This order open until ____ |
| Papacy | Ups in strong demand indicates large short interest. |
| Parable | Downs in strong demand indicates large long
interest. |
| Parabola | Very moderate demand for Ups. |
| Parachute | Very moderate demand for Downs. |
|
Parasite
| Owing to small offerings do not think can execute your
Indemnity order. |
| Parlance | Owing to slack demand do not think can execute your
Indemnity order. |
| Passive | Very heavy trading in Ups. |
| Passover | Very heavy trading in Downs. |
| Pastoral | Very little doing in Ups and Downs. |
| Patience | . . . . . . |
| Patiently | . . . . . . |
| Patriot | . . . . . . |
| Peaceable | . . . . . . |
| Pectoral | . . . . . . |
| Peculate | . . . . . . |
| Pedantic | . . . . . . |
| Pediform | . . . . . . |
| Pedometer | . . . . . . |
| Peevish | . . . . . . |
| Peevishly | . . . . . . |
| Pelvic | . . . . . . |
| Pendulous | . . . . . . |
| Pensive | . . . . . . |
| Pensively | . . . . . . |
| Penumbra | . . . . . . |
| People | . . . . . . |
| Pepsin | . . . . . . |
| Perception | . . . . . . |