Source : Webster's Revised Unabridged Dictionary (1913)

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}.

Source : WordNet®

preferred stock
     n : stock whose holders are guaranteed priority in the payment
         of dividends but whose holders have no voting rights
         [syn: {preferred shares}, {preference shares}]