Abstract: A method of auctioning exchange traded assets is described. Before commencing the auction bidding, the seller establishes a maximum asset amount representing a greatest amount of the exchange traded assets to be auctioned, and a minimum asset price representing a minimum acceptable bid amount for a given amount of the exchange traded assets. During the bidding, bids are received for the assets, with each bid including a bid price and a corresponding bid amount of assets. After the bidding, a market demand is determined that represents the total of all the bid amounts for the bids. If the market demand is greater than or equal to the maximum asset amount, a clearing price is established that allocates the maximum asset amount of the assets according to the bids at a final price between and including the clearing price and the minimum asset price.

Abstract: Methods and apparatus for auctioning securities. The methods and apparatus receive one or more backstop bids for the securities from one or more backstop bidders and implement a real-time auction of securities over the Internet. The methods and apparatus determine a clearing price for the auction, the clearing price being determined such that all of the securities are distributed and allocate at least a portion of the securities to the one or more backstop bidders if the clearing price is less than the backstop bids.

Abstract: A machine for testing and comparing bearings of the plain or sliding type and bearing materials comprising one or a pair of bearing test stations each having a test bearing housing for fixedly retaining a selected test bearing. A rotatably driven shaft is journalled in the test bearing. Means are provided for applying a predetermined load radially on the test bearing in the housing and means are also provided for measuring the friction force generated by rotation of the shaft in the test bearing, whereby the coefficient of friction of the test bearing can be determined. Means are also provided for damping oscillations occurring in the test bearing housing and for limiting rotation of the test bearing and housing under excess generated friction force.