American Dictionary of the English Language, Vol. 2

Author: Noah Webster


PROCEEā€™DS, n. plu. Issue; rent; produce; as the proceeds of an estate.

1. In commerce, the sum, amount or value of goods sold or converted into money. The consignee was directed to sell the cargo and vest the proceeds in coffee. The proceeds of the goods sold amounted to little more than the prime cost and charges.