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will of the landlord, try to have the lease extended
and, in it, have expressly stipulated the amount of
rent to be paid.
It is of great importance to find out how many
men are to be employed and what wages they are to
receive. It has been the case that where a man has
paid extraordinary high wages in former years, when
prices were higher for goods sold than at present, his
successor, in trying the same experiment, has involved
himself fatally. Pay as high as you can, a good man is
always worth good wages, but do not attempt to give
fancy salaries or to increase the wages from year to
year, except in exceptional cases.
Finally, it should be stipulated in the bill of sale
that the seller should not open another place, similar
to yours, within a certain length of time and, then,
not within a specified vicinity (five or ten blocks
from you, as the understanding may be); for it has
often happened that the party who sold has, at once,
re-opened another estahlisment in a near locality, and
with all his old help has taken away the trade from
the party who has Just purchased his old place. This,
of course, is a highly dishonorable act, hut it has
been done many times.
In order to avoid the necessity of reading this en
tire article, we have itemized the principal points for
the consideration of the buyer.
Study the locality, the price asked, see whether it
is mortgaged or not, and to whom.
Ascertain the amount of rent, the conditions of the
lease and whether the lease can he extended.
Find out the amount of business, how much stock
there is on hand, and have inventory taken.
Get complete daily expenses and cash receipts.
Have proof that a certain amount of liquor Has
actually been consumed on the premises.