Up To Date Business - Home Study Circle Library Series (Volume II.)

Various

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• Publié par: eddo
• Publié le: 08 décembre 2010
• Nombre de lectures: 19
• Langue: English
• Poids de l'ouvrage: 1 Mo

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The Project Gutenberg EBook of Up To Date Business, by Various

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Title: Up To Date Business  Home Study Circle Library Series (Volume II.)

Author: Various

Editor: Seymour Eaton

Release Date: February 6, 2007 [EBook #20531]

Language: English

Character set encoding: ISO-8859-1

*** START OF THIS PROJECT GUTENBERG EBOOK UP TO DATE BUSINESS ***

Produced by Barbara Tozier, Bill Tozier, Jacqueline Jeremy and the Online Distributed Proofreading Team at http://www.pgdp.net

UP-TO-DATE BUSINESS

HOME STUDY CIRCLE LIBRARY

EDITED BY

SEYMOUR EATON

I.

II.

UP TO DATE BUSINESS

INCLUDING

LESSONS IN BANKING, EXCHANGE, BUSINESS GEOGRAPHY, FINANCE, TRANSPORTATION AND COMMERCIAL LAW

FROM THE CHICAGO RECORD

NEW YORK THE DOUBLEDAY & McCLURE CO. 1900

Copyright, 1897, 1898, 1899, by the C HICAGO R ECORD C OPYRIGHT , 1899, by S EYMOUR E ATON C OPYRIGHT , 1899, 1900, by V ICTOR F. L AWSON

CONTENTS

I

GENERAL BUSINESS INFORMATION

Commercial Terms and Usages

Commercial Terms and Usages (Continued)

Page 3

4

[v]

VIII.

"

"

"

"

69

94

102

148

157

166

177

111

120

129

139

" Africa

"

" Australia and Australasia

" South America

[vi]

" India

" China

" Japan

T RADE F EATURES

"

" Russia

The Trade Features of the British Isles

XVIII.

XI.

VIII.

Bank Cheques

IV.

Bank Drafts

III.

V.

VI.

Protested Paper

II

IX.

X.

Paper Offered for Discount

Corporations

The Clearing-house System

Letters of Credit

"

I.

"

"

"

"

Examination Paper

BUSINESS GEOGRAPHY

"

"

"

IV.

Foreign Exchange

Transportation Papers

64

59

57

54

51

49

46

41

37

31

26

18

21

12

15

6

8

" Germany

" France

Promissory Notes

"

"

VII.

Bonds

Transportation

XVII.

Joint-stock Companies

XII.

" Spain and Italy

"

"

XI.

"

IX.

X.

"

"

III.

II.

"

"

"

"

"

XIII.

"

"

"

XIV.

XVI.

XV.

VII.

"

Commercial Drafts

VI.

V.

Bank Cheques (Continued)

Bank Cheques (Continued)

Corporations and Stock Companies

Borrowing and Loaning Money

Freight Transportation

288

294

301

309

274

281

326

312

315

318

321

Examination Paper

FINANCE, TRADE, AND TRANSPORTATION

III.

240

248

254

221

225

228

233

COMMERCIAL LAW

215

II.

210

187

194

XII.

XIII.

"

"

"

"

"

"

The Clearing-house System

VIII.

XIV.

267

263

The Parties to a Contract (Continued)

The Parties to a Contract

" The United States

" Canada

III

IX.

Bonds

XII.

X.

XIII.

Stock and Produce Exchanges

XI.

Railroad Rates

Transportation by Rail

Commercial Credits and Mercantile Agencies

[vii]

III.

IV

V.

Examination Paper

IV.

VI.

IV.

VI.

Collaterals and Securities

VII.

V.

I.

II.

The Essentials of a Contract

The Consideration in Contracts

National and State Banks

Storage and Warehousing

The Different Kinds of Contracts

I.

Contracts by Correspondence

Cheques, Drafts, and Bills of Exchange

Savings Banks and Trust Companies

The Warranties of Merchandise

Contracts for the Sale of Merchandise

IX.

VII.

What Contracts Must Be in Writing

VIII.

XV.

The Law Relating to Leases

X.

Common Carriers

Examination Paper

The Law Relating to Bank Cheques

The Carrying of Passengers

GENERAL BUSINESS INFORMATION

350

347

363

369

373

377

Marks Used in Proof-reading

IV.

353

358

On the Names and Sizes of Type

PREPARING COPY FOR THE PRESS AND PROOF-READING

V

[viii]

[ix]

382

381

387

384

Page 7

ILLUSTRATIONS

A Poorly Drawn Cheque

XII.

XIV.

Concerning Agents

On the Keeping of Things

XVII.

XI.

XIII.

XVI.

Preparing Copy

The Terms Used in Printing

I.

III.

I

340

344

332

336

II.

Liability of Employers to Employés

Liability of Employers to Employés

A Certified Cheque

A Carefully Drawn Cheque

A Blank Indorsement

A Cheque Made to Obtain Money for Immediate Use

8

24

25

A Cheque for the Purchase of a Draft

A Cheque Payable to Order

A Local Waybill

18

19

20

22

13

14

16

17

A Cheque Drawn so as to Insure Payment to Proper Party

9

11

11

A Private Bond

An Accepted Sight Draft

The Advantages of the Clearing-house System

BUSINESS GEOGRAPHY

Second Page of a Letter of Credit

A Steamship Bill of Lading

29

32

28

29

27

28

48

55

42

43

38

40

35

36

An Accepted Ten-day Sight Draft

61

60

62

First Page of a Letter of Credit

A Time Draft

Foreign Exchange

A Bill of Exchange (Private)

A Bill of Exchange (Banker's)

A Certificate of Stock in a National Bank

Backs of Two Paid Cheques

The Route of a Cheque

A Certificate of Stock in a Manufacturing Company

II

A Shipping Receipt ("Original")

A Protest

A Promissory Note Filled Out in an Engraved Blank

A Sight Draft

A Sight Draft Developed from Letter

[x]

A Bank Draft

A Special Form for a Promissory Note

Ordinary Form of Promissory Note

The Coal-fields of England

205

121

113

127

The Great Manufacturing Districts of England

117

London Bridge

The Manchester Ship Canal

Principal Articles of Domestic Exports of the United States

Australia

Japan's Relation to Eastern Asia

244

The Partition of Africa

241

216

China and its Chief Trade Centres

[xi]

Export Trade of United States and Great Britain Compared

Showing Cheque Raised from $7.50 to $70.50

A Certified Cheque

III

North Central Germany, Showing the Ship Canal and the Leading Commercial Centres

Italy and its Chief Commercial Centres

The Bank of England

United States Manufactures and Internal Trade Compared with the Manufactures and Internal Trade of all Other Countries

Trade Centres of Canada and Trunk Railway Lines

France Compared in Size with the States of Illinois and Texas

London the Natural Centre of the World's Trade

FINANCE, TRADE, AND TRANSPORTATION

The Most Prosperous Part of South America

76

80

84

88

95

97

104

109

133

145

155

159

Comparative Sizes of India and the United States

74

72

Street Scene in Paris, Showing the Bourse

Approximate Size of the German Empire

192

198

199

171

183

Moscow

Russia, the British Empire, and the United States Compared

British Mercantile Marine

Spain Compared in Size with California

A Bank Draft

A Bill of Exchange

Illustrating Cheque Collections

A Mercantile Agency Inquiry Form

Specimens of Interest Coupons

Judge Thomas M. Cooley, First Chairman of the Interstate Commerce Commission

The Paris Bourse

Interior View of New York Stock Exchange

V

PREPARING COPY FOR THE PRESS AND PROOF-READING

A Printer's Proof

A Printer's Corrected Proof

GENERAL BUSINESS INFORMATION

I. COMMERCIAL TERMS AND USAGES

245

246

252

259

266

287

289

290

390

391

HERE is a distinction between the usage of the n a me s CO MMERCE  and BUSINESS . The interchange of products and manufactured articles between countries, or even between different sections of the same country, is usually referred to ascommerce. The termbusiness refers more particularly to our dealings at home—that is, in our own town or city. Sometimes this name is used in connection with a particular product, as thecoalor business thelumberbusiness, or in connection with a particular class, as thedry- goodsbusiness or thegrocerybusiness. The namecommerce, however, seldom admits of a limited application. In the United States TRADE  is synonymous withbusiness. The word TRAFFIC applies more especiallyto

[3]

the conveyance than to the exchange of products; th us we refer to railroadtraffic orlaketraffic. P RO DUCTS , when considered articles of trade, are calledmerchandise, goods, wares. The term MERCHANDISE  has the widest meaning, and includes all kinds of movable a rticles bought or sold. G O O DS applied more particularly to the supplies of a merchant. is W ARES is commonly applied to utensils, asglassware,hardware, etc.

G RO SS commonly means coarse or bulky. In trade it is used with reference to both money and goods. Thegrossof a package includes the weight weight of the case or wrappings. The larger sum in an account or bill —that is, the sum of money before any allowance or deductions are made —is thegross amount of the bill. The word NET derived from a Latin is word meaning neat, clean, unadulterated, and indicates the amount of goods or money after all the deductions have been made. To say that a price isnetis to indicate that no further discount will be made.

The word FIRM to solidity, establishment, strength, and in a relates business sense signifies two or more persons united in partnership for the purpose of trading. The word HO USE very frequently used in the is same sense. In mercantile usagehouse does not mean the building in which the business is conducted, but the men who ow n the business, including, perhaps, the building, stock, plant, and business reputation. The name CO NCERN is often used in a very similar way.

The name MARKET  expresses a locality for the sale of goods, and in commerce is often used to denote cities or even countries. We say that Boston is a leather market, meaning that a large nu mber of Boston merchants buy and sell leather. In the same sense w e call Chicago a grain market, or New Orleans a cotton market. In its more restricted sense the namemarketsignifies a building or place where meat or produce is bought and sold. We say that themarket is flooded with a particular article when dealers are carrying more of that article than they can find sale for. There isno marketany product when there is no demand. for The money market istight orclose when it is difficult to borrow money from banks and money-lenders.

II. COMMERCIAL TERMS AND USAGES (Continued)

T HENATURALRESO URCES  of a country are mainly the mineral commodities and agricultural produce that it yields. The lumber and fish produced in a country are also among its natural resources. The p ositions and industries of cities are usually fixed by natural conditions, but the most powerful agent is the personal energy of enterprisi ng and persevering men, who, by superior education, or scientific know ledge, or practical foresight, have often been able to found industrial centres in situations which no geographical considerations would suggest or explain.

C O MMISSIO NMERCHANTS and sell goods belonging to others for a receive compensation called a commission. A SELLINGAG ENT a person who is

[4]

[5]

represents a manufacturing establishment in its dealings with the trade. The factory may be located in a small town, while the selling agent has his office and samples in the heart of a great city. As regards the quantity of goods bought or sold in a single transaction, trade is divided into WHO LESALE  and RETAIL . The wholesale dealer sells to other dealers, whil e the retail dealer sells to the consumer—that is, th e person who consumes, or uses, the goods. A JO BBER is one who buys from importers and manufacturers and sells to retailers. He is constantly in the market for bargains. The names JO BBER  and WHO LESALER often used in the same are sense, but a jobber sometimes sells to wholesalers. W HO LESALE  has reference to the quantity the dealer sells, and not to the source from which he buys, or the person to whom he sells. The wholesaler, as a rule, deals in STAPLES —that is, goods which are used season after season —though of course there are wholesalers in practically all businesses.

Wholesale dealers send out TRAVELLERS or DRUMMERS , who carry samples of the goods. Frequently the traveller starts out with his samples from six months to a year in advance of the time of delivery. It is quite a common thing for the retailer to order from samples merchandise which at the time of placing the order may not even be manufactured.

By the PRICE of a commodity is meant its value estimated in money, or the amount of money for which it will exchange. The exchangeable value of commodities depends at any given period partly upon the expense of production and partly upon the relation of supply and demand. Prices are affected by the creation of monopolies, by the opening of new markets, by the obstructing of the ordinary channels of commercial intercourse, and by the anticipation of these and other causes. It i s the business of the merchant to acquaint himself with every circumstance affecting the prices of the goods in which he deals.

The entire world is the field of the modern merchant. He buys raw and manufactured products wherever he can buy cheapest, and he ships to whatever market pays him the highest price. Our cor ner grocer or produce-dealer may furnish us with beef from Texas, potatoes from Egypt, celery from Michigan, onions from Jamaica, coffee from Java, oranges from Spain, and a hundred other things from as many different points; and yet, so complete is the interlocking of the world's commercial interests, and so great is the speed of transportation, that he can supply us with these necessaries under existing conditions more easily and readily than if they were all grown on an adjoining farm.

III. BANK CHEQUES

A CHEQ UE is an order for money, drawn by one who has funds in the bank. It is payable on demand. In reality, it is asight drafton the bank. Banks provide blank cheques for their customers, and it is a very simple matter to fill them out properly. In writing in the amount begin at the extreme left

[6]

~

~

~

of the line.

The illustration given below shows a poorly written cheque and one which could be very easilyraised. A fraudulent receiver could, for instance write, "ninety" before the "six" and "9" before the figure "6," and in this way raise the cheque from $6 to $96. If thi s were done and the cheque cashed, the maker, and not the bank, would become responsible for the loss. You cannot hold other people responsi ble for your own carelessness. A cheque has been raised from $100 to $190 by writing the words "and ninety" after the words "one hundred." One of the ciphers in the figures was changed to a "9" by adding a tail to it. It is wise to draw a ~running l~ine, thus ~ , after the amount in words, thus preventing any additional writing.

A poorly drawn cheque.

The illustration on page 8 shows a cheque carefully and correctly drawn. The signature should be in your usual style, familiar to the paying teller. Sign your name the same way all the time. Have a ch aracteristic signature, as familiar to your friends as is your face.

A cheque is a draft or order upon your bank, and it need not necessarily be written in the prescribed form. Such an order written on a sheet of note-paper with a lead-pencil might be in every way a legally good cheque.

[7]

[8]