In various compound legal terms (see infra) this word carries a meaning not essentially different from its signification in the vernacular. In the language of the stock exchange , a broker or speculator is said to be “long” on stock, or as to a particular security, when he has in his possession or control an abun- dant supply of it, or a supply exceeding the amount which he has contracted to deliver, or. more particularly, when he has bought a supply of such stock or other security for future delivery, speculating on a considerable future advance in the market price . See Kent v. Miltenberger, 13 Mo. App. 506.
Black’s Law Online Dictionary
