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Be bigger and broader than the
mere technic of your profession, and
you'll be both better and more val-
uable for it.



THE NATIONAL FEDERATION OF
COMMERCIAL TEACHERS

"Holiday Time" to Commercial
Teachers means something more
than Christmas joys and New Year
aspirations; it means nonethe less of
these old and yet ever new feast and
flow of soul days, but it means Feder-
ation time, fraternal greetings, re-
newed inspiration, loftier aspirations,
higher ideals, increased enthusiasm,
broadened ideas, a more unselfish de-
votion to our cause, and a larger
faith in our fellow workers. And are



these not worth while to sandwich
between Christmas and New Years?
The week if spent at home is too long
for continual feasting and yet too
short for much business achievement.
The Federation fills the gap most ad-
mirably.

Christmas or New Years or both
can be spent with kin and personal
friends; the time between can be
spent with professional and personal
friends; thus making the holiday-
time of ten days one round of enjoy-
ment, inspiration and improvement.

It may be a little too strenuous
for those past the Osier limit of inia-
tive, but it seems not a whit too much
for those who recognize that "A
change is better than a rest." And
what is more restful than a change of
scene, of landscape or city; and what
is more beneficial than to be separat-
ed temporarily from those with whom
we associate three hundred and sixty
days in the year and to be allowed to
mingle with those who have like abil-
ities, aspirations and enthusiasms
the remaining four or five days of the
year?

And the pity of it is that because of
distance and minor causes we cannot
all attend each year. But by becom-
ing members we can enjoy to some ex-
tent these annual meetings through
the medium of the "Official Report"
containing the papers read and
speeches made there.

Then, too, by becoming a member,
whether you can attend this year or
not, the inclination of those who do
attend will be to move the next meet-
ing in your direction so you can at-
tend. Indeed this is the only way to
make the Federation truly national;
let all commercial teachers become
members from the Atlantic to the Pa-
cific, from the Gulf to and including
Canada, and then let the Federation
visit the various sections of our coun-
try, benefitting alike those who visit
and those visited.

The Business Educator is there-
fore heartily in favor of two things:
Holding the Federation meetings be-
tween Christmas and New Years; and
holding the Federation meetings in
the chief cities of our great and be-
loved country. East, South, West and
North.

"A rolling stone gathers no moss,"
neither does a moving Federation
gather, and therefore comprise,
moss-backs. Let us move and there-
by keep young and enthusiastic and
continue to be useful.



Hall— Chamberlin

Editor, The Business Educator,

Columbus, Ohio,
De.\r Sir:

Mr. Ch.iniberlain's talks on advertising are in-
teresting, but he makes some statements that, if
allowed to pass uncorrected, may lead readers
into serious error.

In the October article, the writer refers to
ti-point type as agate. Now, 6-point was ne^■er
known as agale. The size now usually referred
to as 5^^-point is sometimes called agate, but it
is not true agate, for only thirteen lines of it may
be set in tlie space of one inch, while fourteen
lines of tlie agate would go in one inch. Agate
is. tiierefore, even smaller than 5^2-point. The
tj-point size is known in printing offices every-
where as nonpareil — not as agate. Mr. Chamber-
lin seems to be confused as to agate and non-
pareil, for he asserts that newspapers sell space
on the basis ot the nonpareil line — which, he
adds, is the one-fourteenth part of an inch. The
facts are these : that very, very few publications
sell space on the basis of the nonpareil line unless
figuring on reading notices which are usually
soltl by tlie counted line; those who do measure
disi>la\- space (tn tlie iwiupareil basis regard the
nonpareil line as the one-twelfth part of an inch,
which is its true value, an inch being seventy-
two points and six being contained in seventy-
two jusi twelve times. However, nearly all large
newspapers sell space on the basis of the old
agate line — no matter what goes in the space,
and the agate line is always counted as one-
fourteenth of an inch. This is one of the first
tilings the beginner learns in newspaper adver-
tising.

Mr. Chamberlin says in another article : "Price
should be a leading feature of all ads." It would
be business suicide for Dotld, Mead & Co. to
state in its magazine (ads.) that the price of the
cheapest bound set of the New International
Kucvclopedia is about »80. In retail advertis
ing, it is usually advisable to give price, and
price sluiuld always be given when it is a selling
argument,^ but tlie rule as given is a dangerous
one to follow invariably.

S. RoLAXD Hall.

November 2S. 1908.



LINES



I Written after hearing a lecture by my friend,
Hrnf. W. N. Ferris, Dec. 28. 1906.1

1 liearil the voice I longeil to hear
Kepeat the worils I knew so w ell ;

But what I felt that moment there
.My heart, but not my tongue can tell.

It were as if a star, which I
Had chosen as my friend and guide.

Had left its orbit in the sky
.\nil shone in splendor at my side.

For I. albeit in humbler strain.

B>- narrower limits compassed round.
Essayed to cast off custom's chain

.\nd raise the lowly from the ground.

But let that pass. It is not those
Who Hatter that foretell the true:

Tliiiught is immortal: he who sows
The germ becomes immortal too.

The world will change from year to year,
.\nd with the world mankind will change ;

.\nd what may now so strange appear
In ages hence maj' not seem strange.

W. P. STEINHAEUSER.
Asburv Park, N. J.



20



.^;f3Sia/h^dy^(/iu^ai7- ^




'-^



ACCOUNTANCY

B. J. BENNEI T, C. A., C. P. A.,

Principal Detroit, Mich., Business Onlverslty.



-J



Financial Statement
Brown & White, Oct. l. 1908



Cash and cash items - -

(Joods in stock - -

.\ccrucil cliarges on consignments - o„n,^ nr,

St, in- and lot * 800U.UU

I ii 1 rii iation on store, 5 per cent, yearly - - B50.00

Inrnituri- .ind fixtures

Il..r>,s and wagons - , .t^onnn

B.inkaicounts ^'*SSS-2S

I'riA iMon forbad accounts, 5 per cent <^y.5(i

\Vaf;^■^ advanced ;-

Notes receivable -

Taxes and insurance, prepaid -

Total assets - -

LIABILITIES

LciaTi account, special - -

Interest aicriied on above, 6 months

.Mortgage on property - -

Interest accrued on above, 3 months -

Accounts pavable, on the books S 5820.00

Accounts payable, not entered - - 1310.00

Notes pavable - -

Bank loan

Due on labor account - -

Total liabilities -



Present capital of firm




Deduct —

Brown's private account 2200.00

White's private account - - 1110.00

Net profit

NOTE -Customers' notes under discount at the bank form a conting-
ent liability and therefore should be watched.

Partners' Statement

MR. BROWN'S ACCOUNT

Investment account . - -

Private account-
Credit one-half net profit - 10036.25

Deduct drawings.. - - - 2200.00

Total interest

MR. WHITE'S ACCOUNT

Investment account

Private account-
Credit one-half net profit 10036.35

Deduct drawings - - lllO.uo

Aggregate capital



$4000

120

4000



7350

2800

050



20000
7830



15000
8926



Journal Entry
Sundries to Sundries SUI1777.011



specify)



specify)..
specify^



Wages— overpaid .



S 3450.00

37600.00

7350.00

2800.00

i)50.00

14590.00

2680.00

55.00

210.00

02.00



Loan account

Mortgage account

Accounts payable (specify) -

Notes pavable I specify)

Bank loan

Interest a. , ,,iiiii , nc.rued) ..

Wa;;es .n.irliu-



Kt

Brown's iuvestinuiil account.

White's investment account.

Brown's private account

White's private account



S 4UOU.O0

4000.00

6930.00

1540.00

600.00

170.00

45.00

729.50

20000.00

15000.00

7836.25

8920.25



The reader is no doubt familiar
with the theory and practice of single
entry bookkeeping but it is possible
that I may be able to add some light
to the subject by means of a practical
problem. This plan of keeping books
has some merit, though details are
not always shown, and it is no doubt
more convenient for the business
man who keeps his own books during
spare moments, than a set which re-
quires extra time and work to keep
them in balance. Indeed the book-
keeper or accountant will usually find
a sort of single entry books in vogue
where he is employed to open for the
first time a new set of books, and
much of the data required may have
to be gathered from sources outside
of the books entirely. From experi-
ence I have found that the majority
of so-called single entry systems ap-
proach more nearly the double entry
principle, by keeping numerous nom-
inal accounts in addition to the
purely personal accounts on whose
use the single entry principle is based.
Therefore they cease to be purely sin-
gle entry books.

The following problem is given and
answered for the benefit of the less
experienced readers:

Problem.

The following data are taken from
a set of books that have been kept by
so-called single entry. The firm of
Brown & White is a partnership in
which they share profits and losses
equally. Each partner received a
salary of $150 per month.

Adjust the accounts, prepare the
necessary financial statements, and
show the journal entry required to
change the books to double entry- in
case the same ledger is used, and in
case a new ledger is used.

Oct. 1, 1908. Brown's investment
$20,000, his personal acct. Dr. $2800;
White's investment, $15,000, his per-
sonal acct. Dr. $2,100 and Cr. $390.
The firm has a special loan from
Brown of $4000, dated April 1, 1908, at
6 per cent, interest, both principal
and interest payable in one year;
cash and cash items |34.50; goods in
stock, $37,600, $8510 of which are in-
ventoried at the market price; con-
signed goods in store room $1080, and
$.55 accrued charges on same; store
and lot valued at $8000 two years ago
when the $6500 store was built; furni-
ture and fixtures, $2800; horses and
wagons estimated $9.50; book ac-
counts, $14, ,500, expected to net 05
per cent; salaries and wages paid,
$5,725; wages paid ahead, $02, also
due and unpaid, $45; interest paid, $84;
accounts payable, $6,930 (only 1-3 of
this amount is shown on the books, the
remainder is collected from other
sources); trade notes outstanding,
$1,540; notes receivable $2,680 (one of
these notes for $1,000 is lodged with
the bank as security for a temporary
loan of $600, for which they hold the



f^^^u4/n^d^y^f/iU¥i6T* ^



firm's collateral note); customers'
notes to the amount of $820 are under
discount at the bank; mortgage on
store and lot $4,000, interest accrued
for 3 months, at 5 per cent.; sales of
merchandise $64,000. For the past 4
months, salaries to partners have
been charged to their private ac-
counts. Taxes and insurance pre-
paid are estimated at $210. The
books are to be kept hereafter by
double entry.

Order of Changing to Double Entry.

1. Inventory all assets and liabili-
ities. See that everything is included.

2. Prepare financial statements,
similar to the one shown herewith.

3. Credit each partner with his
share of the profits and balance the
account. In the accompanying prop-
osition the investment accounts re-
main intact.

4. If the same books are to be
used, open such additional accounts
as may be required to exhibit all
of the assets and liabilities. At the
same time plan the nominal ac-
counts that maybe required, and ar-
range their locations in the ledger.
If a new ledger is to be used, it is ad-
visable to close up all accounts in the
old ledger with the necessary expla-
nation in each.

5. Prepare journal entries which
when posted will bring the ledger in-
to balance. This entry will be prac-
tically a copy of the assets and liabil-
ities taken from the statement. These
amounts already in the ledger are to
be checked and not posted. Instead
of making a journal entry the
amounts could be entered directly in-
to their respective accounts.

fi. If a new ledger is used, proceed
as usual in the matter of journal en-
tries and provide a proper classifica-
tion of ledger accounts. Post all
amounts that appear in the journal
entry described herewith.

7. After the books are opened take
off a trial balance to test the equili-
brium of the ledger. This is import-
ant and should not be neglected.

Profit and Loss Accounts for Single
Entry Books.

I have frequently been asked to
compile from single entry books the
details of income and expenditures
for the past year in the form of a Loss
and Gain Statement. This informa-
tion can be secured readily enough as
a rule and though considerable work
is involved in doing so a fairly accur-
ate statement can be prepared.
Shortly stated, the system consists of
analyzing the cash into Cash received



from Customers, Cash Paid for Goods,
Business Expenditure, under various
convenient headings, and other spe-
cial items, so that the analysis as a
whole may absolutely agree with
the Cash Book. Stock must of course,
be taken at the commencement and
end of the period, or if the Opening
Stock is unknown it must be estimat-
ed upon the best available basis, and
the accuracy of the resulting account,
will be entirely dependent upon the
accuracy of this estimate. Assum-
ing, however, that the opening and
closing inventories are known, the
Sales are arrived at by adding to
the Cash received from customers, the
closing Sales Ledger Balances and
deducting the opening Sales Ledger
Balances; the figure of purchases is
obtained by adding the closing Pur-
chase Ledger Balances to the Cash
paid for goods, and deducting there-
from the opening Purchase Ledger
Balances; while in the same manner
the various items of Business "expen-
diture are adjusted by outstanding
amounts at the opening and closing
of the Period, so as to obtain the Ex-
penditure incurred during the cur-
rent period, whether actually paid or
not. These figures being arrived at,
they are put together in forms of a
Profit and Loss Account in the usual
way. The details of receipts and pay-
ments appear in the Cash Books and
may be separated at any time into
classified lists or accounts, showing
outlay and income. To these must
be added the current bills or accounts
that are not yet shown on the books.



THE CO-OPERATIVE MOVEMENT

A GREAT SAFEGUARD

AGAINST FRAUD

At the opening of the autumn ac-
tivity, the proprietors of two of the
leading business schools in Brook-
lyn were comparing notes in a friend-
ly and confidential manner. The
successes and failures of the past
year and the prospects for the future
were spoken of without jealousy or
restraint. The conversation was in-
cidentally turned to the matter of
canvassers; and they were comparing
notes as to the individuals employed,
the prices paid for their services, the
methods of work, the results obtain-
ed, etc. So interested in each other's
affairs did they become that the fact
dawned upon them that each had em-
ployed a canvasser whose methods,
personal appearance, former experi-
ence, and personal history were sus-



piciously similar. Upon comparing
the handwriting of these two (?) gen-
tlemen, there was no doubt but that it
was one and the same.

He was engaged, under the name
of Edmon L. Wellman, to solicit for
one of these schools in April, repre-
senting himself as having been grad-
uated from the University of Wiscon-
sin, and his services were continued
until September. About the first of
July, he approached the other princi-
pal and stated that he was out of em-
ployment looking for a situation as
canvasser, and was engaged on trial
under the name of E. C. Turner, and
a graduate of the University of Chi-
cago. At first, his services in the
new situation were quite satisfactory;
but his reports seemed more vague
and inaccurate as the time passed.
The principal made several personal
investigations to verify his reports
and found them to be for the most
part inaccurate and many of them en-
tirely false. At the end of the third
week, he was notified that his services
would not be continued.

Upon making further investigation,
it was found that this solicitor (?) re-
ported, on certain days, a full day's
work for each school. On one occa-
sion in particular, he made a report
to one that he had visited a dozen or
more prospectives in Richmond Hill;
for the other school, he reported that
he had called on forty or more pros-
pectives in the city on the same day.

All good school proprietors will
agree that this is too much to expect
from any solicitor; and they are
hereby warned against a man of such
excessive ambition. In personal ap-
pearance, he is of medium size, has
prominent nose and chin; his hair is
black ; his face is covered with a
heavy growth of beard which he en-
deavors to keep cleanly shaven; he
wears stylish clothing and presents a
generally good appearance and makes
a favorable impression. He speaks
rapidly and hesitates between sen-
tences; his real nameis still unknown
to either employer; and it is hoped
that he will keep it a secret until he
materially mends his morality. He
seemed like a young man of sufficient
ability to earn an honorable living in
any legitimate business.

This information is given not only
to prevent other proprietors from be-
ing defrauded, but to encourage a
hearty local cooperation in the man-
agement of private school work.
M. L. Miner,
Miner's Business Academy,
Brooklyn.



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Start tl]e Xlzxo llcar rigl^t by starting a (£Iub for i\\z B. €.



M^^udin^U/^f/^u^OfT ^




TALKS ON ENGLISH

S. ROWLAND HALL,

Principal of the School AdverHsinJ, Infernatioiial

Correspondence Schools,

SCBANTON, PA.



'^



-J



WRITING FOR PUBLICATION.

Manuscript should be written on
only one side of sheets of uniform size.
Sheets anywhere from six to eight and
a half inches wide and anywhere
from nine to eleven inches long will
do, but those longer than eleven or
twelve inches are not convenient for
printers. Nothing is better than
white paper, though a great deal of
"copy" (the word means anything
that is to be set up) is nowadays
written on yellow and buff papers,
these shades being considered easier
on the eyes. The regular typewrit-
er letter sheet, 8oxll inches, when
folded twice fits the "official" envel-
ope well and makes good manuscript
for both editor and printer. When
possible, all manuscripts should be
typewritten, for typewriting not only
insure more careful preparation but
shorter appearance and a reduction in
weight. The better and the shorter
appearance increases chance of pub-
lication. Leave ample margins for
editing. Double-space the regular
matter. Quoted items may be writ-
ten single-spaced to advantage.

If manuscript is pen written, only
black ink should be used. Don't ex-
pect editors to puzzle over poor hand-
writing. Edit and correct with strict
care. Make capital letters where you
want capitals used and don't leave
punctuation to the printer. Putting
a ring around periods will make it
certain that they will not be mistaken
for commas. A diagonal line drawn
through a capital means "use a small
letter here," and three little marks
under a small letter means, "Use a
capital here."

There's no objection to corrections
and transpositions if they are clearly
made. And manuscript may be cut
apart and pasted together without
prejudicing editors.

If an illustration is to be used,
draw a square, rectangle or oval— as
the case may be— and write in it—
"Cut comes here." It is still better
to paste in a proof of the illustration,
if you have a proof.

Number all sheets at the top. If
the manuscript is to be sent to a mag-
azine or a trade paper, write the title
of the article or story about three



inches from the top of the first sheet
Put your name and address in one of
the upper corners of the first sheet
and in the other corner the approxi-
mate number of words in the manu-
script. If a pen name is used, that
maybe written directly under the title.
If the manuscript is unsolicited, al-
ways enclose an addressed and
stamped envelope for its return.

Words may be divided at the end of
a line and carried over to the next,
but a part of a word should not be
carried over to another sheet.

Do not write unless you have some-
thing to write about. Get into your
subject with the first sentence. In-
troductions are rarely necessary; if
necessary, they should be brief.

Cultivate conciseness. The story
of the creation of the world is told in
about six hundred words. Paragraph
when there is a distinct turn in the
thought. Preserve balance by the
use of both long and short sentences.

You will make your work ridiculous
if you affect "fine writin' " or use ex-
pressions like "lurid glare," "hoarse
sob," etc. Avoid the hackneyed ex-
pressions such as "in our midst,"
"has accepted a position," "your
scribe,' etc.; these smack of rural
journalism.

Editors do not want articles that
have appeared wholly or partly in
other publications.

In quoting extracts from copy-
righted articles, be sure not to quote
so much that your article becomes a
substitute for the other, for this
would constitute an infringement.

Practical articles accompanied by
good photographs or drawings are
welcomed by most editors. Illustra-
tions not only make articles much
more interesting but aid greatly in
making explanations clear.

Trade papers usually welcome
interesting items that tell of new
things. Items may be written up in
this style about a manufacturer's
products that will at the same time
be excellent advertisements, but if
such items are filled with mere praise
of the product or of the manufactur-
er's enterprise, they will probably
not be used; if used, such items will
more likely disgust readers than to
impress them favorably.

It is not necessary to write the edi-
tor a long personal letter. State
briefly that the manuscript is for sale
at the usual rates of the magazine or



sent complimentary— as the case may
be. It is not a good plan for young
writers to set a price on their work.

Do not expect an editor to pass on
your article at once. Editors of prom-
inent publications have thousands of
manuscripts to read.

Do not feel aggrieved if your man-
uscript comes back. Put it aside for
a week. Then read it critically and
you will often see that the editor had
a good reason for not using it. Feel
grateful for all criticisms and sug-
gestions.

Be prompt in sending items to news-
papers. A paragraph on the day the
news is fresh is better than 500 words
on the following day. The largest
daily papers pay out-of-town corres-
pondents from three to ten dollars a
column for matter used. They have
representatives in large cities, how-
ever. Make some arrangement be-
fore undertaking to serve as a news-
paper correspondent.

Important items are always sent by
telegraph (usually after six o'clock,
so as to get night rates), and ordi-
narily preceded by a query, inform-
ing the editor that such and such an
aft'air has happened and asking how
much matter is wanted.

An invariable rule about newspa-
per articles is that the first paragraph
should give the gist of the entire
"story." Magazine stories and gen-
eral articles usually begin with some-
thing designed to create in:erest, and
in the case of stories the unfolding
of the plot and the climax is left to
the last, but in the newspaper ar-
ticle the important part is told first.
The next important detail follows the
first paragraph and so on to the end,
the least important part of the ac-
count coming last. If, for instance,
there were a large fire in Minneapolis,
the first paragraph of the item should
be a statement of about this style :

Three blocks in the heart of the
business district of Minneapolis were
destroyed by fire early this evening,
entailing a loss of ten millions of
dollars.

If the reader goes no farther, he at
least has the most important fact.

In writing newspaper items, care
should be taken to get facts. Re-
member that the paper is liable for
damages for anything of a libelous
nature published. Never send any-
thing in the nrture of a hoa.x to a
publisher.

Three things are necessary to suc-
cessful authorship: A live, interest-



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