Publisher's Synopsis
Excerpt from How to Finance a Business: Where and How to Get Funds, How to Use the Bank, Partnerships and Stock Issues, Success From Small Capital, Financing in a Crisis, Handling Investments, Money Leaks and Savings, Planning to Make Ends Meet
The senior member of the firm, however, was obdurate. He would do nothing until he had accumulated a surplus sufficient to cover the expenses of the improvement, though he admitted that lack of space was a handicap.
The first two years the firm managed to build Up a considerable surplus. This money was kept in a savings bank, drawing 3% interest. The third year, however, the competition had so grown that no surplus was earned. The fourth year began with a general busi ness depression. The balance in the bank sank. Still the old policy was continued.
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