Morning journal and courier., 1894-02-20


handsome bonus. At the same time, II
you have not had wide business expert.
snce and thorough knowledge of the
particular field you propose entering, the
chances are you will take too rosy q view
of 1t.
Trading, to q disinterested outsider,
must often have almost the appearances
of robbery. The buyer cares little for
Inventory" prices and "fsir estimates I"
He will often put In the knife and scale
these down . third or . half, and refuss
to talk except on that basis. On the
other hand, II the seller has the advan-
tsge, be will squeeze the buyer to the
same extent. In our present hard times
1t 10 the buyer who crowds down prices,
and, with the risk he takes, there is
neei for his severity. The man who lie
not q sharp buyer courts failure.
The younger business men frequently
find pitfall In business speculation; that
is, they do not study to supply the natural
demand simply, bat to find large profits In
chance changes of prices. Yet never
knew any one smart enough to always
buy low and sell high-to carry q large
stock over to q high price period, email
stock over to the low-price period. If
older men avoid engaging in such tran
saations. In panics or booms IL does not
pay to get either scared or excited.
The young business man Ia slso too easi-
ly induced to put his name on notes and
bonds to accommodate his friends. He
can best assure his success by not obliga-
ting himself at all. As for his friends,
they will, in the majority of cssee, be bet
ter off IL they fnd it difficult to borrow
1t is unfortunate for q man to be able to
borrow money too easily. He does not feel
the responsibility he should. and 1t slips
through bis fingers. BE not only cripples
himself, but the weaker of those who lent
him their names
Besides the dangers mentioned that are
not apt to be foreseen and discounted by
the man going into business, are losses by
bad bills, by nre or accident, by dishonest
help, by sickness aud by personal eItravs-
gance- There will be some bsd bills any
way, and there should always be some re.
serve to mtet the possibility of these and
of fire ard accident. As for dishonssty,
there are thousand wsys In which IL can
creep In. Safety can come only In thor
ough knowledge of the business from top
to bottom, and q personal overseeing. II
is essential, too. that the books bs exam
fned occasionally- This examination does
not mean suspicion of the help. but lie
made on the general prinoi1le that Sup.
poeed trustworthiness had In the past Of
ten failed, and lightning strikes in unex-
pected places.
Sickness is more serious In q small busi.
ness than 10 large one. A well organ
izsd manufacturing concern will move
along smoothly Of its own weight for
any moderate length of time.
In the matter of personal expenses the
American tendency lie to inerease them full
ly as fast rs the business will warrant
Yet the men who are working up to the
largest success live more quietly than
their neighbors who are at present equal
ly prosperous. A fne houss aud high lIr-
Ing, and plscs 10 the upper circle Of fAsh..
ionable society, are questionable things for
the young business man to aspire TO. In
reality, . mans success depends largely on
hia wife. II shs is ambitious and snowy
In her tastes abe win use both her hus-
bands time and money With dangerous
freedom If the wife is economical, and
counts the cost in her plans and sxPendi-
lures, she Is q g eat help.
In the use of his free time after busiuess
hours, suppose that what 10 best is not
half the night spent at the club or In socl-
ETY., but quiet evening spent at home, and
an early hour for retiripg-at least that
method is best as q rule. 1t is said that
Armour, the wealthy Chicago business
man, retires invariably at nine o'clock.
No matter wha. the circumstances are, even
II company is present, he at that hour bess
to be excused and leaves the room. II 10 O
crest advantage for q man to get up with .
good clear head. He needs to feel well to
do his best in business just as In anything
elee.
AS to whether culture has q pecunisry
value TO a business man, should say yes.
Reading and wide knowledge mellow .
mans opinions, and he can treat questions
that come up more broadly than o. herwise.
he will look at proposition more fairly
and thoroughly.
The sum Of the matter ie that a man had
far better make less money than to take
too large risks even In his own business;
aud outside ventures should be regarded
dnubtfully slwsys. For there 10 no worry
that will kill man quicker than business
worry, and many die of this who have a
very different disease set against their
names In the sEs items Of the papers. II
10 easy enough to realize the truth of these
things We have been talking over now.
The time to think of them, however. is In
the good years. when everything booms
with the promise of large gains.