AVERAGE n.
ing to the ship, or cargo, or freight, in consequence of some fortuitous or unavoidable accident; and it is borne by the individual owners of the articles damaged, or by their insurers. -- Petty averages are sundry small charges, which occur regularly, and are necessarily defrayed by the master in the usual course of…
BALSAM n.
the Abies balsamea. -- Canada balsam, Balsam of fir, Canada turpentine, a yellowish, viscid liquid, which, by time and exposure, becomes a transparent solid mass. It is obtained from the balm of Gilead (or balsam) fir (Abies balsamea) by breaking the vesicles upon the trunk and branches. See Balm.