An explanation, a list, or a quoted line are frequently preceded by a colon. It's also used to distinguish between hours and minutes in time, specific aspects in medical journal citations, chapter and verse in Bible citations, and salutations in business letters and other formal letter writing. However, the use of the typographic symbol - to indicate the time is not widespread. A period (full stop) is used in many nations as a placeholder. (At 2:23 p.m., the time is 14.23). There is no specific phrase for a colon that separates hours: minutes.