130 / 274
— 130 —
able to compare and see whether his statements are
correct or not. Also make inquiries in the neighbor
hood to ascertain what kind of business has been done,
whetlier the neighbors are in favor of the place,
whether the business has been "boomed" by artificial
means or not, and what general reasons there could
be for the man selling.
Where there is a business transaction involving
quite a sum of money, it will frequently require more
than your own knowledge and ability, and it is best
to engage expert bookkeepers or accountants to ex
amine the cash, stock and other books, bills, receipts,
etc., and hav.e every item conpected with the business,
relating to expenditures and to money received, care
fully scanned. At the same time, it is wise not to
depend entirely on the statements and judgment of
the accountants, for they are liable to make a mistake;
but with their assistance and your own judgment, you
can find out whether there is any trickery or not in
the proposed transaction. Some of the accountants
may understand all about bookkeeping but know very
little about our business,—as the two forms do not
harmonize,—and are therefore liable to make serious
errors.
It is necessary to find out by the landlord or from
the party selling who pays for all the repairs ^nd in
what condition the building is with its floors, win
dows and walls; and, if it is to be repaired at your ex
pense, how much money it will take to put the place
in proper shape. After due deliberation of all the be
fore-mentioned features, and if you have a good opin
ion of the chances for success, it is advisable, as far as
any one can discern, for you to make the investment.
It is additionally advisable, if the buyer is not capable
of understanding fully the terms of the purchase,
the condition of the lease, etc., that he should en
gage the services of a capable lawyer. Get the good