Donegall Square is a square in the centre of Belfast, County Antrim, Northern Ireland. In the centre is Belfast City Hall, the headquarters of Belfast City Council; each side of the square is named according to its geographical location, i.e. Donegall Square North, South and West, it is named after the Donegall family. Other streets to bear their name in Belfast are Donegall Pass and Donegall Street. Donegall Place, the city's main shopping street, runs from the north side of the square. On the square are many banks or society branches, including HSBC, Irish Nationwide, Bank of Scotland, Halifax, Co-operative Bank, First Trust Bank, Bank of Ireland, Danske Bank and Ulster Bank. Many of the above have their Northern Ireland headquarters on the square; the Northern Bank robbery occurred at the bank's headquarters on Donegall Square West. In addition, it is the home to many leading Law Firms including. Notable buildings on the square include the Linen Hall Library and the Scottish Provident Building, now a five-star serviced office business centre.
The Ten Square Hotel on Donegall Square South was a Victorian linen warehouse. Its exterior features carved portholes, with the faces of George Washington, Sir Isaac Newton and William Shakespeare protruding
James Martin (engineer)
Sir James Martin CBE DSc CEng FIMechE FRAeS was a Northern Irish engineer whom together with Captain Valentine Baker founded the Martin-Baker aircraft company, now a leading producer of aircraft ejection seats. James Martin was born 11 September 1893 in Glasswater Road, County Down in Ireland, Northern Ireland, he established his own engineering firm in 1929. In 1934, he and Valentine Baker formed Martin-Baker, it was in a crash of the MB 3, that Baker was killed. In 1964 Martin was awarded the Gold Medal of the Royal Aero Club. In 2004, Martin was inducted into the International Air & Space Hall of Fame at the San Diego Air & Space Museum. Martin's contribution to engineering was commemorated by the Northern Bank in its Inventor series of banknotes, which featured his portrait on the bank's £100 note; the note was discontinued in 2013 when the bank reissued its banknotes under the new Danske Bank brand. Https://web.archive.org/web/20120618182525/http://www.martin-baker.com/Sub-Navigation/History/Sir-James-Martin.aspx
A promissory note, sometimes referred to as a note payable, is a legal instrument, in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms. The terms of a note include the principal amount, the interest rate if any, the parties, the date, the terms of repayment and the maturity date. Sometimes, provisions are included concerning the payee's rights in the event of a default, which may include foreclosure of the maker's assets. For loans between individuals and signing a promissory note are instrumental for tax and record keeping. A promissory note alone is unsecured; the term note payable is used in accounting or as just a "note", it is internationally defined by the Convention providing a uniform law for bills of exchange and promissory notes, but regional variations exist. A banknote is referred to as a promissory note, as it is made by a bank and payable to bearer on demand.
Mortgage notes are another prominent example. If the promissory note is unconditional and saleable, it is called a negotiable instrument. Demand promissory notes are notes that do not carry a specific maturity date, but are due on demand of the lender; the lender will only give the borrower a few days' notice before the payment is due. Promissory notes may be used in combination with security agreements. For example, a promissory note may be used in combination with a mortgage, in which case it is called a mortgage note. In common speech, other terms, such as "loan", "loan agreement", "loan contract" may be used interchangeably with "promissory note"; the term "loan contract" is used to describe a contract, lengthy and detailed. A promissory note is similar to a loan; each is a binding contract to unconditionally repay a specified amount within a defined time frame. However, a promissory note is less detailed and less rigid than a loan contract. For one thing, loan agreements require repayment in installments, while promissory notes do not.
Furthermore, a loan agreement includes the terms for recourse in the case of default, such as establishing the right to foreclose, while a promissory note does not. Promissory notes differ from IOUs in that they contain a specific promise to pay along with the steps and timeline for repayment as well as consequences if repayment fails. IOUs only acknowledge. Negotiable instruments are unconditional and impose few to no duties on the issuer or payee other than payment. In the United States, whether a promissory note is a negotiable instrument can have significant legal impacts, as only negotiable instruments are subject to Article 3 of the Uniform Commercial Code and the application of the holder in due course rule; the negotiability of mortgage notes has been debated due to the obligations and "baggage" associated with mortgages. In the United States, the Non-Negotiable Long Form Promissory Note is not required. Promissory notes are a common financial instrument in many jurisdictions, employed principally for short time financing of companies.
The seller or provider of a service is not paid upfront by the buyer, but within a period of time, the length of, agreed upon by both the seller and the buyer. The reasons for this may vary. Depending on the jurisdiction, this deferred payment period can be regulated by law; when a company engages in many of such transactions, for instance by having provided services to many customers all of whom deferred their payment, it is possible that the company may be owed enough money that its own liquidity position is hampered, finds itself unable to honour their own debts, despite the fact that by the books, the company remains solvent. In those cases, the company has the option of asking the bank for a short-term loan, or using any other such short-term financial arrangements to avoid insolvency. However, in jurisdictions where promissory notes are commonplace, the company can ask one of its debtors to accept a promissory note, whereby the maker signs a binding agreement to honour the amount established in the promissory note within the agreed period of time.
The lender can take the promissory note to a financial institution, that will exchange the promissory note for cash. Once the promissory note reaches its maturity date, its current holder can execute it over the emitter of the note, who would have to pay the bank the amount promised in the note. If the maker fails to pay, the bank retains the right to go to the company that cashed the promissory note in, demand payment. In the case of unsecured promissory notes, the lender accepts the promissory note based on the maker's ability to repay. In the case of a secur
A tire or tyre is a ring-shaped component that surrounds a wheel's rim to transfer a vehicle's load from the axle through the wheel to the ground and to provide traction on the surface traveled over. Most tires, such as those for automobiles and bicycles, are pneumatically inflated structures, which provide a flexible cushion that absorbs shock as the tire rolls over rough features on the surface. Tires provide a footprint, designed to match the weight of the vehicle with the bearing strength of the surface that it rolls over by providing a bearing pressure that will not deform the surface excessively; the materials of modern pneumatic tires are synthetic rubber, natural rubber and wire, along with carbon black and other chemical compounds. They consist of a body; the tread provides traction. Before rubber was developed, the first versions of tires were bands of metal fitted around wooden wheels to prevent wear and tear. Early rubber tires were solid. Pneumatic tires are used on many types of vehicles, including cars, motorcycles, trucks, heavy equipment, aircraft.
Metal tires are still used on locomotives and railcars, solid rubber tires are still used in various non-automotive applications, such as some casters, carts and wheelbarrows. The word tire is a short form of attire, from the idea; the spelling tyre does not appear until the 1840s when the English began shrink fitting railway car wheels with malleable iron. Traditional publishers continued using tire; the Times newspaper in Britain was still using tire as late as 1905. The spelling tyre began to be used in the 19th century for pneumatic tires in the UK; the 1911 edition of the Encyclopædia Britannica states that "he spelling'tyre' is not now accepted by the best English authorities, is unrecognized in the US", while Fowler's Modern English Usage of 1926 says that "there is nothing to be said for'tyre', etymologically wrong, as well as needlessly divergent from our own older & the present American usage". However, over the course of the 20th century, tyre became established as the standard British spelling.
The earliest tires were bands of leather iron placed on wooden wheels used on carts and wagons. The tire would be heated in a forge fire, placed over the wheel and quenched, causing the metal to contract and fit on the wheel. A skilled worker, known as a wheelwright, carried out this work; the first patent for what appears to be a standard pneumatic tire appeared in 1847 lodged by the Scottish inventor Robert William Thomson. However, this never went into production; the first practical pneumatic tire was made in 1888 on May Street, Belfast, by Scots-born John Boyd Dunlop, owner of one of Ireland's most prosperous veterinary practices. It was an effort to prevent the headaches of his 10-year-old son Johnnie, while riding his tricycle on rough pavements, his doctor, John Sir John Fagan, had prescribed cycling as an exercise for the boy, was a regular visitor. Fagan participated in designing the first pneumatic tires. Cyclist Willie Hume demonstrated the supremacy of Dunlop's tires in 1889, winning the tire's first-ever races in Ireland and England.
In Dunlop's tire patent specification dated 31 October 1888, his interest is only in its use in cycles and light vehicles. In September 1890, he was made aware of an earlier development but the company kept the information to itself. In 1892, Dunlop's patent was declared invalid because of prior art by forgotten fellow Scot Robert William Thomson of London, although Dunlop is credited with "realizing rubber could withstand the wear and tear of being a tire while retaining its resilience". John Boyd Dunlop and Harvey du Cros together worked through the ensuing considerable difficulties, they employed inventor Charles Kingston Welch and acquired other rights and patents which allowed them some limited protection of their Pneumatic Tyre business's position. Pneumatic Tyre would become Dunlop Tyres; the development of this technology hinged on myriad engineering advances, including the vulcanization of natural rubber using sulfur, as well as by the development of the "clincher" rim for holding the tire in place laterally on the wheel rim.
Synthetic rubbers were invented in the laboratories of Bayer in the 1920s. In 1946, Michelin developed the radial tire method of construction. Michelin had bought the bankrupt Citroën automobile company in 1934, so it was able to fit this new technology immediately; because of its superiority in handling and fuel economy, use of this technology spread throughout Europe and Asia. In the U. S. the outdated bias-ply tire construction persisted, with market share of 87% as late as 1967. Delay was caused by tire and automobile manufacturers in America "concerned about transition costs." In 1968, Consumer Reports, an influential American magazine, acknowledged the superiority of radial construction, setting off a rapid decline in Michelin's competitor technology. In the U. S. the radial tire now has a market share of 100% in automobiles. Today, over 1 billion tires are produced annually in over 400 tire factories. There are 2 aspects to. First, tension in the cords pull on the bead uniformly around the wheel, except where it is reduced above the contact patch.
Second, the bead transfers that net force to the rim. Air pressure, via the ply cords, exerts tensile force on the entire bead surrounding th
The krone is the official currency of Denmark and the Faroe Islands, introduced on 1 January 1875. Both the ISO code "DKK" and currency sign "kr." are in common use. The currency is sometimes referred to as the Danish crown in English, since krone means crown. Krone coins have been minted in Denmark since the 17th century. One krone is subdivided into 100 øre, the name øre deriving from Latin aureus meaning "gold coin", or more plausibly from Latin as, pl aeres, meaning "bronze coin", from aes, aeris, "bronze". Altogether there are eleven denominations of the krone, with the smallest being the 50 øre coin, valued at one half of a krone. There were more øre coins, but those were discontinued due to inflation; the krone is pegged to the euro via the European Union's exchange rate mechanism. Adoption of the euro is favoured by some of the major political parties, however a 2000 referendum on joining the Eurozone was defeated with 53.2% voting to maintain the krone and 46.8% voting to join the Eurozone.
The oldest known Danish coin is a penny struck AD 825–840, but the earliest systematic minting produced the so-called korsmønter or "cross coins" minted by Harald Bluetooth in the late 10th century. Organised minting in Denmark was introduced on a larger scale by Canute the Great in the 1020s. Lund, now in Sweden, was the principal minting place and one of Denmark's most important cities in the Middle Ages, but coins were minted in Roskilde, Odense, Aalborg, Århus, Ribe, Ørbæk and Hedeby. For 1,000 years, Danish kings – with a few exceptions – have issued coins with their name, monogram and/or portrait. Taxes were sometimes imposed via the coinage, e.g. by the compulsory substitution of coins handed in by new coins handed out with a lower silver content. Danish coinage was based on the Carolingian silver standard. Periodically, the metal value of the minted coins was reduced, thus did not correspond to the face value of the coins; this was done to generate income for the monarch and/or the state.
As a result of the debasement, the public started to lose trust in the respective coins. Danish currency was overhauled several times in attempts to restore public trust in the coins, in issued paper money. In 1619 a new currency was introduced in the krone. One krone had the value of 1 1/2 Danish Rigsdaler Species accounting for 96 Kroneskillinger for 144 common Skillings; until the late 18th century, the krone was a denomination equal to 8 mark, a subunit of the Danish rigsdaler. A new krone was introduced as the currency of Denmark in January 1875, it replaced the rigsdaler at a rate of 2 kroner. This placed the krone on the gold standard at a rate of 2480 kroner; the latter part of the 18th century and much of the 19th century saw expanding economic activity and thus a need for means of payment that were easier to handle than coins. Banknotes were used instead of coins; the introduction of the new krone was a result of the Scandinavian Monetary Union, which came into effect in 1873 and lasted until World War I.
The parties to the union were the three Scandinavian countries, where the name was krone in Denmark and Norway and krona in Sweden, a word which in all three languages means crown. The three currencies were on the gold standard, with the krone/krona defined as 1⁄2480 of a kilogram of pure gold; the Scandinavian Monetary Union came to an end in 1914. Denmark and Norway all decided to keep the names of their respective and now separate currencies. Denmark returned to the gold standard in 1924 but left it permanently in 1931. Between 1940 and 1945, the krone was tied to the German Reichsmark. Following the end of the German occupation, a rate of 24 kroner to the British pound was introduced, reduced to 19.34 in August the same year. Within the Bretton Woods System, Denmark devalued its currency with the pound in 1949 to a rate of 6.91 to the dollar. A further devaluation in 1967 resulted in rates of 7.5 kroner. In 2014, it was decided to stop printing of the Krone in Denmark, but the work would be outsourced, on 20 December 2016, the last notes were printed by the National Bank.
Denmark has not introduced the euro, following a rejection by referendum in 2000, but the Danish krone is pegged to the euro in ERM II, the EU's exchange rate mechanism. Denmark borders one eurozone member and one EU member, obliged to join the euro in the future; the Faroe Islands uses a localized, non-independent version of the Danish krone, known as the Faroese króna pegged with the Danish krone at par, using the Danish coin series, but have their own series of distinct banknotes, first being issued in the 1950s and modernized in the 1970s and the 2000s. Greenland adopted the Act on Banknotes in Greenland in 2006 with a view to introducing separate Greenlandic banknotes; the Act entered into force on 1 June 2007. In the autumn of 2010, a new Greenlandic government indicated that it did not wish to introduce separate Greenlandic banknotes and Danmarks Nationalbank ceased the project to develop a Greenlandic series. Still, Greenland continues to use Danish kroner as sole official currency. Greenland under the colonial administration issued distinct banknotes between 1803 and 1968, together with co
Henry George "Harry" Ferguson was an Irish-born British mechanic and inventor, noted for his role in the development of the modern agricultural tractor and its three point linkage system, for being the first person in Ireland to build and fly his own aeroplane, for developing the first four-wheel drive Formula One car, the Ferguson P99. Today his name lives on in the name of the Massey Ferguson company. Ferguson was born at Growell, near Dromore, in County Down, the son of a farmer, of Scottish descent. In 1902, Ferguson went to work with Joe, in his bicycle and car repair business. While working there as a mechanic, he developed an interest in aviation. In 1904, he began to race motorcycles. In the 1900s the young Harry Ferguson became fascinated with the newly emerging technology of powered human flight and with the exploits of the Wright brothers, the American aviation pioneers who made the first plane flight in 1903 in North Carolina, USA; the first person to accomplish powered flight in the UK was Alliot Verdon Roe in June 1908, who flew an aeroplane of his own design, but this had not yet been achieved in Ireland.
Ferguson began to develop a keen interest in the mechanics of flying and travelled to several air shows, including exhibitions in 1909 at Blackpool and Rheims where he took notes of the design of early aircraft. Harry convinced his brother that they should attempt to build an aircraft at their Belfast workshop and working from Harry's notes, they worked on the design of a plane, the Ferguson monoplane. After making many changes and improvements, they transported their new aircraft by towing it behind a car through the streets of Belfast up to Hillsborough Park to make their first attempt at flight, they were at first thwarted by propeller trouble but continued to make technical alterations to the plane. After a delay of nearly a week caused by bad weather, the Ferguson monoplane took off from Hillsborough on 31 December 1909. Harry Ferguson became the first Irishman to fly and the first Irishman to build and fly his own aeroplane. After falling out with his brother over the safety and future of aviation Ferguson decided to go it alone, in 1911 founded a company selling Maxwell and Vauxhall cars and Overtime Tractors.
Ferguson saw at first hand the weakness of having tractor and plough as separate articulated units, in 1917 he devised a plough that could be rigidly attached to a Model T Ford car—the Eros, which became a limited success, competing with the Model F Fordson. In 1917 Ferguson met Charles E. Sorensen while Sorensen was in England scouting production sites for the Fordson tractor, they discussed methods of hitching the implement to the tractor to make them a unit. In 1920 and 1921 Ferguson demonstrated early versions of his three-point linkage on Fordsons at Cork and at Dearborn. Ferguson and Henry Ford discussed putting the Ferguson system of hitch and implements onto Fordson tractors at the factory, but no deal was struck. At the time the hitch was mechanical. Ferguson and his team of longtime colleagues, including Willie Sands and Archie Greer, soon developed a hydraulic version, patented in 1926. After one or two false starts, Ferguson founded the Ferguson-Sherman Inc. with Eber and George Sherman.
The new enterprise manufactured the Ferguson plough incorporating the patented "Duplex" hitch system intended for the Fordson "F" tractor. Following several more years of development, Ferguson's new hydraulic version of the three-point linkage was first seen on his prototype Ferguson "Black", now in the Science Museum, London. A production version of the "Black" was introduced in May 1936, made at one of the David Brown factories in Huddersfield and designated Ferguson Model A tractor. In 1938, Ferguson's interests were merged with those of David Brown junior to create the Ferguson-Brown Company. In October 1938, Ferguson demonstrated his latest tractor to Henry Ford at Dearborn, they made the famous "handshake agreement". Ferguson took with him his latest patents covering future improvements to the Ferguson tractor and it is these that led to the Ford-Ferguson 9N introduced to the world on 29 June 1939; the 1938 agreement intended that the Ferguson tractor should be made in the UK at the Ford Ltd factory at Dagenham, Essex but Ford did not have full control at Dagenham and, while Ford Ltd did import US-made 9N/2Ns, Dagenham did not make any.
Henry Ford II, Ford's grandson, ended the handshake deal on 30 June 1947, following unsuccessful negotiations with Ferguson, but continued to produce a tractor, the 8N, incorporating Ferguson's inventions, the patents on all of which had not yet expired, Ferguson was left without a tractor to sell in North America. Ferguson's reaction was a lawsuit demanding compensation for damage to his business and for Ford's illegal use of his designs; the case was settled out of court in April 1952 for just over $9 million. The court case cost him about half of a great deal of stress and ill health. By 1952, most of the important Ferguson patents had expired, this allowed Henry Ford II to claim that the case had not restricted Ford's activities too much, it follows that all the world's other tractor manufacturers could use Ferguson's inventions, which they duly did. A year Ferguson merged with Massey Harris to become Massey-Harris-Ferguson Co. Massey Ferguson; as a consequence of Dagenham's failure to make the tractors, Harry Ferguson made a deal with Sir John Black of the Standard Motor Company to refit their armaments factory at Banner Lane, Coventry.
Production of the latest Ferguson tractor, the TE20, started in the autumn o
The euro is the official currency of 19 of the 28 member states of the European Union. This group of states is known as the eurozone or euro area, counts about 343 million citizens as of 2019; the euro is the second largest and second most traded currency in the foreign exchange market after the United States dollar. The euro is subdivided into 100 cents; the currency is used by the institutions of the European Union, by four European microstates that are not EU members, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members use the euro as their currency. Additionally, 240 million people worldwide as of 2018 use currencies pegged to the euro; the euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. As of August 2018, with more than €1.2 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in circulation in the world, having surpassed the U.
S. dollar. The name euro was adopted on 16 December 1995 in Madrid; the euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit at a ratio of 1:1. Physical euro coins and banknotes entered into circulation on 1 January 2002, making it the day-to-day operating currency of its original members, by March 2002 it had replaced the former currencies. While the euro dropped subsequently to US$0.83 within two years, it has traded above the U. S. dollar since the end of 2002, peaking at US$1.60 on 18 July 2008. In late 2009, the euro became immersed in the European sovereign-debt crisis, which led to the creation of the European Financial Stability Facility as well as other reforms aimed at stabilising and strengthening the currency; the euro is managed and administered by the Frankfurt-based European Central Bank and the Eurosystem. As an independent central bank, the ECB has sole authority to set monetary policy; the Eurosystem participates in the printing and distribution of notes and coins in all member states, the operation of the eurozone payment systems.
The 1992 Maastricht Treaty obliges most EU member states to adopt the euro upon meeting certain monetary and budgetary convergence criteria, although not all states have done so. The United Kingdom and Denmark negotiated exemptions, while Sweden turned down the euro in a 2003 referendum, has circumvented the obligation to adopt the euro by not meeting the monetary and budgetary requirements. All nations that have joined the EU since 1993 have pledged to adopt the euro in due course. Since 1 January 2002, the national central banks and the ECB have issued euro banknotes on a joint basis. Euro banknotes do not show. Eurosystem NCBs are required to accept euro banknotes put into circulation by other Eurosystem members and these banknotes are not repatriated; the ECB issues 8% of the total value of banknotes issued by the Eurosystem. In practice, the ECB's banknotes are put into circulation by the NCBs, thereby incurring matching liabilities vis-à-vis the ECB; these liabilities carry interest at the main refinancing rate of the ECB.
The other 92% of euro banknotes are issued by the NCBs in proportion to their respective shares of the ECB capital key, calculated using national share of European Union population and national share of EU GDP weighted. The euro is divided into 100 cents. In Community legislative acts the plural forms of euro and cent are spelled without the s, notwithstanding normal English usage. Otherwise, normal English plurals are sometimes used, with many local variations such as centime in France. All circulating coins have a common side showing the denomination or value, a map in the background. Due to the linguistic plurality in the European Union, the Latin alphabet version of euro is used and Arabic numerals. For the denominations except the 1-, 2- and 5-cent coins, the map only showed the 15 member states which were members when the euro was introduced. Beginning in 2007 or 2008 the old map is being replaced by a map of Europe showing countries outside the Union like Norway, Belarus, Russia or Turkey.
The 1-, 2- and 5-cent coins, keep their old design, showing a geographical map of Europe with the 15 member states of 2002 raised somewhat above the rest of the map. All common sides were designed by Luc Luycx; the coins have a national side showing an image chosen by the country that issued the coin. Euro coins from any member state may be used in any nation that has adopted the euro; the coins are issued in denominations of €2, €1, 50c, 20c, 10c, 5c, 2c, 1c. To avoid the use of the two smallest coins, some cash transactions are rounded to the nearest five cents in the Netherlands and Ireland and in Finland; this practice is discouraged by the Commission, as is the practice of certain shops of refusing to accept high-value euro notes. Commemorative coins with €2 face value have been issued with changes to the design of the national side of the coin; these include both issued coins, such as the €2 commemorative coin for the fiftieth anniversary of the signing of the Treaty of Rome, nationally i