What is "preference stock"

Prefer \Pre*fer"\, v. t. [imp. & p. p. Preferred; p. pr. & vb. n. Preferring.] [F. pr['e]f['e]rer, L. praeferre; prae before + ferre to bear or carry. See 1st Bear.]

1. To carry or bring (something) forward, or before one; hence, to bring for consideration, acceptance, judgment, etc.; to offer; to present; to proffer; to address; -- said especially of a request, prayer, petition, claim, charge, etc.

   He spake, and to her hand preferred the bowl.
   --Pope.

   Presently prefer his suit to C[ae]sar.
   --Shak.

   Three tongues prefer strange orisons on high.
   --Byron.

2. To go before, or be before, in estimation; to outrank; to surpass. [Obs.] ``Though maidenhood prefer bigamy.''
   --Chaucer.

3. To cause to go before; hence, to advance before others, as to an office or dignity; to raise; to exalt; to promote; as, to prefer an officer to the rank of general.

   I would prefer him to a better place.
   --Shak.

4. To set above or before something else in estimation, favor, or liking; to regard or honor before another; to hold in greater favor; to choose rather; -- often followed by to, before, or above.

   If I prefer not Jerusalem above my chief joy.
   --Ps. cxxxvii. 6.

   Preferred an infamous peace before a most just war.
   --Knolles.

   Preferred stock, stock which takes a dividend before other capital stock; -- called also preference stock and preferential stock.

   Syn: To choose; elect. See Choose.