Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1881-09-16

Your net proceeds, $4O6 81
The goods were we'll suited to this mar
ket and met with quick sales, at fair rates
| Very truly yours,
J. T. STUART.
The following note was discounted te
raise the wind to help out a sinking firm
but they we're too far gone and the eEdor.
ser had it to pay:
$3.50. BALTIMORE, Md, July 20, 81.
Thirty days after date we jointly and
| severally promise to pay j. G. Dunsmore,
real estate agent, Or order one hundred and
| fifty dollars, value received.
P. G.. ROsENBAUM & Co.,
J. W. MORRISON, Jr.
The following bill shows transaction
between a commission house and the sup
ply depot or emporium:
NEW YORK, July 30th, 1881.
E. G. Harrison & Co.,
Bought of Peet, Davis & Co.,
125fb flour (best family Bic. $ 4,3S
320 gal II. Syrup, 60c. 1920
- $196, 3s
Received payment,
PEET, DAVIS & Co.
1t will be seen from the above that all
the minutiae of practical business is taught
in the school, even to correspondence and
insurance. During the course the student
is required to retire one of his partners
and make an equitable division of profits
and losses with him and settle up the bus
mess of the concern, and then to receive
another partner into the firm and start
him all right with his contribution to the
capital stock.
It was amusing to see the different re-
suits with which the several firms wound
up their transactions. Some made mon
ey, some barely came out even, and one
young fellow ''busted fat" In answer to
the inquiry by our reporter as to the cause
of his failure, he said he paid too much
rent and gave his clerk too high wages.
This sounds like it was ''put up job'
between the professor and the pupil, but
it was really the actual result of the man
ner IN which the unfortunate young man
conducted his business, and he did not
know until he came to wind it up at the
end Of the term that he was insolVent.-
The principal of another firm boosted that
while he had come out in his previous
course 5000 worse than nothing he had
made nearly 5000 this time, which gave
nearly $50 clear money for him and his part
ner each. He said that the rock on which
he split before was reckless endorsing for
his friends. Another accommodating
young gentleman had not been so prudent,
but had endorsed for every man who ask
ed him, and on the day of settlement his
name was found on 81 300 worth of paper.
That boys father might have stood those
figures and two more clphers added to
them, but it landed the youngster in
bankruptcy as two of the firms he had en-
upon the security and swamped him. He
remarked quietly ''that there was no use
in his trying to settle, he was done for,
but it would be lesson for him when he
went into actual business and he would
not be apt to forget it,"
The good natured professor was highly
amused at the several results and the
laughing omments of the successful ira
ders at the chagrin of the insolvent ones,
verifying his predictions all along that
some Of them were trading too wild or
endorsing recklessly and that they had
better look sharp for settling day. But it
turned out as we see in actual transac-
tions every day, good advice was not
needed and he could say in more than one
instance. 81 told you so.'' The class IN the
actual department at the close of their
term passed rigid examination and re-
ceived certificate of graduation and hav-
ing received the ground work for a good
business course, some of them have
already secured positions and commenced
to buffet with the world with a fairer
chance of success than most young men
have. Students in this course will be re-
ceived at any time during the session just
commencing and the course can be com
pleted with extra diligence in five or six
months, though pupils can have the priv
lege Of the whole session if desired.