BILL-BROKER, a broker who deals in bills of exchange. Bill-brokers specialize in bill-discounting, and their operations are very varied in character. They may deal for themselves as princi pals or for others as agents. When they sell bills of exchange on commission, they are purely brokers; this function has become al most obsolete. When they buy bills of exchange to sell again at a profit they become, in effect, bill-merchants. When, enlarging their functions, they deal in bills on the grand scale, employing much capital derived from depositors, they become what are called "discount houses." (See BILL OF EXCHANGE; MONEY MAR KET; DISCOUNT AND DISCOUNT HOUSES.)