7. HOW TO PROTECT YOURSELF AGAINST THEFTS

INTERNAL CHECKS YOU CAN USE | WATCH FOR CASH FRAUDS | HOW TO AVOID STEALING OF MAIL RECEIPTS | HOW TO STOP THIEVERY FROM PETTY CASH | ERRORS MADE IN HANDLING CHECKS | IN CASH HANDLING USE THESE PROVED METHODS | HOW BONDING EMPLOYEES HELPS | HOW TO PROTECT AGAINST ROBBERIES.

The prudence we have recommended to you in getting started in your own business is doubly emphasized when you deal with employees, suppliers and customers. Most embezzlements in busi­ness are by trusted employees. And in the vast number of these, the first step was taken because it was an easy way to "borrow" some money in order to gamble, live high or to pay the doctor and hospital costs for an ill wife.

Your job is to make it difficult by removing the ease of temptation. Procedures you install at the beginning and careful periodic subsequent checkups will go a long way to prevent the fruits of your work being enjoyed by others.

Obviously all the methods used by thieves cannot be enu­merated. The inventiveness of thieves is ever new. But of this you can be sure—leaving an opening by carelessness or lack of foresight will be taken advantage of to your detriment. Here is a run-down of some of the more frequently used methods:

1. Kickbacks, split commissions and other bribings with suppliers of merchandise and similar deals with customers to give them a favored position—even not billing them for what they received.
   
   
2. Alteration of legitimate creditors' bills to get a new or added payment,  which  is  then  cashed by the cheater; or raising bills after they have been paid to get another check to be cashed.
   
   
3. Direct theft of material from the supply rooms or a store.
   
   
4. Selling  business   property   (by-products,   fixtures,   machinery and automobiles, or even investments) and withhold­ing the proceeds.
   
   
5. Raising the amount on checks given the employee for a legitimate purpose, then destroying the vouchers when returned by the bank.
   
   
6. Removing funds from petty cash, and inserting false vouchers to cover thefts.
   
   
7. Stealing money sent in by mail or "forgetting" to enter cash sent in by a customer as payment.
   
   
8. Stealing stamps, often in large quantities, charging them  to legitimate expense, then selling them in the black market found in most cities. (Recently, a Wall Street clerk was found to have for years obtained stamps in "change" on the firm's check for postal meter charges. His stamps in "change" were a continuous and lucra­tive source of income for maintaining an extraor­dinarily high standard of living for a clerk.)
   
   
9. Making fake bills from imaginary sellers to secure payment for materials or services not delivered—then cashing the check.
   
   
10. Keeping cash paid by customers across the counter or in sales on the road.
    
    
11. Paying out salaries  to  imaginary,  discharged or dead employees.
    
    
12. Making all sorts of adjustments and write-offs of customers' accounts, sometimes in cahoots with the customers. (A good example of this is the fraud involving the adjustment manager of a store. He started by putting through fictitious returns to cover alleged costs he was paying. The amounts were for the most part under $10. It was more difficult to detect them because they were so small. The total theft reached over $150,000 before he was finally caught.)
    
    
13. Lapping cash—using receipts of today to cover up yester­day's embezzlements, until the employee is hopelessly involved.

All employees trusted with valuables should be bonded. If you do not take this precaution, you miss a valuable restraint. Bonding companies probably reduce frauds by 50 percent.

Overintimacy sometimes invites collusion. It is essential to rotate employees now and then. "Trusted old people" cause more grief than the ones you don't trust. Many frauds are uncovered when the "hard working" employee who never takes a vacation is compelled to do so.

Sometimes the hiring system goes wrong. It is best to en­gage employees through the personnel office rather than directly through shop foremen. That obviates "kickback" arrangements.

INTERNAL CHECKS YOU CAN USE

Employee thefts are encouraged when there is no internal check. All effective systems of cash or collections must be set up so that at least one person checks the work of another by using a different procedure.

Here are a few examples:

One employee records a sale, another charges the customer's account.

One employee receives the collection, another records the credit to the customer.

One employee handles the cash, another keeps the cash ledger account.

One employee accepts an order, another receives the goods.

One employee approves the invoices for payment, an­other issues the check.

One employee makes up the payroll, another issues pay checks and takes receipts.

WATCH FOR CASH FRAUDS

Among the careless acts of businessmen that have caused losses when finally discovered are:

1. Using a till or cashbox instead of a modern register. The use of a cash box sacrifices all our desirable control fea­tures. Clerks have an easy time pocketing change un­less the system protects the employer.
   
   
2. Not maintaining a petty cash working fund, but using some other method. Make the cashier account for funds regularly.
   
   
3. Not prenumbering checks, requisitions, sales slips, and all like forms—and then making sure that all are accounted for and that none is used in an unauthorized manner.
   
   
4. Careless  signing  of checks  in  advance  of  seeing  bills just because you are "sure of the honesty of the book­keeper"—that always invites fraud.
   
   
5. Careless recordings of cash  transactions.  These  are usually the beginning of shortages, whether by design or otherwise.
   
   
6. Not guarding vigorously against  unauthorized conversion of assets or assignments.
   
   
7. Not getting a full review by yourself or a CPA of your bank accounts; not guarding against borrowing from one account to cover a shortage in another. To do that, you have to make sure your method of inquiry ques­tions all transfers between your banks, particularly those at the end of the month. Usually the deposit, but not the withdrawal, may be recorded in the current month.
   
   
8. Not maintaining a follow-up on accounts that have been written off, to be sure that recoveries are properly accounted for.
   
   
9. Making "pay-outs" from receipts. Be sure you promptly de- posit receipts intact in the bank.

These are only the beginning steps to avoid fraud by people who handle cash. Experts sometimes use the following list of devices to ensure safety of cash:

Separate the person handling cash and operations from the rest of the office. Provide adequate  safe  room; make certain that the  safes  are modern, burglarproof and fireproof; permit only author­ized persons to know the combinations; change the combinations periodically.

Make use of the protection given by mechanical equipment such as cash registers, analysis machines, autographic reg­isters, check registers, automatic cashiers, paying ma­chines, change-making machines.

Make sure that the cashiers are required to give a full receipt for all funds taken in.

Educate the payer of funds to get a receipt for proper credit of his payment.

See that the cashier registers funds immediately upon receipt.

If the registry is by a duplicate receipt, number it serially so as to control it fully.

Make sure to place cashiers under bond.

Have independent persons in office or have CPA's balance the cashier's funds and salespeople's registers.

See that the cashier does not make disbursements from receipts; a controlled petty cash fund is advisable.

See that the cashier, if he receives money on charge accounts, does not have access to the ledgers.

Make sure that the person making deposits is protected and bonded. Be certain that the firm has full insurance to cover highway robbery. Make use of the most acces­sible bank.

TO AVOID STEALING OF  MAIL RECEIPTS

Mail openers have many opportunities to steal money or stamps. Actual cases of fraud have shown it is necessary to do this:

Open the mail under competent supervision away from other people.

Sort it immediately; fasten all papers and mailing documents together with cash or checks received.

Place coin or stamps received in envelopes to prevent loss.

Follow up carefully all complaints that cash was sent but not received; use the facilities of the post office in in­vestigating such complaints.

Find out whether a modern registering machine, which creates a cash record and registers the customer's remittance documents, would be an economy and a protective device.

Make check indorsing only "for deposit" and make it simultane­ous with cash recording.

Have entry into bookkeeping record done, if possible, by someone other than the mail openers. Then insist both people prove cash-receipts books daily with entries in cus­tomer's ledgers.

To avoid trouble, segregate the cash and customer's order at once when received. Then deposit the cash and furnish other clerks only with a record of what has come from the customers.

HOW TO STOP  THIEVERY  FROM  PETTY CASH

Thefts from petty cash are the most used methods of em­ployee larceny. Here are four rules to follow to avoid these losses:

Require that any request for payment from petty cash be made out in ink to prevent forgery and reuse.

Insist that it be supported by invoices or receipts in every pos­sible case and be approved by some competent official.

Mutilate the petty cash voucher after it has been paid, showing the date of payment, to prevent reuse.

Take the vouchers away from the control of the cashier—or else you invite easy pickings.

ERRORS MADE IN HANDLING CHECKS

A usual fraud begins with permitting free use of checks. Signing checks in blank for use while away from the office invites fraud. Here are other errors made by businessmen:

They forget that occasionally someone ought to make certain that seller's names and indorsements are in accord with vouchers or invoices. If they don't, the clerk can easily pay a friend or confederate twice as much as the seller's bill, permitting him to settle with the seller. For example, a cashier paid the purchasing agent $100 for a $50 bill, and then the latter settled with the seller.

They sometimes permit checks to be issued to cash or bearer. That invites trouble. It is easy for the clerk to pay a fraction of the amount for your legitimate bill.

They neglect to have checks numerically printed; to retain all voided checks; to route checks paid and returned by the bank to a clerk other than the issuing one; to have the bank reconciliation made by a disinterested person.

They fail to consider the advisability of requiring more than one signature on a check; of making sure checks are signed by one who thoroughly audits vouchers; of seeing that he studies the voucher or invoice to make sure to avoid forgery. That eliminates a lot of trouble, particularly against clerks who use false invoices, reuse old invoices or raise totals of invoices in cahoots with vendors.

IN CASH HANDLING USE THESE PROVED METHODS

Study the way your employees handle your daily receipts. Control is obtained by a combination of several steps:

Have someone other than the cashier take deposits to the bank. Make deposit slips in duplicate to receive bank proof and prevent forgery. Prove daily deposits to bank records. If possible, have this done by someone other than the person receiving the cash. Reconcile all bank statements regularly.  If possible, have the reconciliation made by a person other than the cashier. Reconcile bank balances occasionally at periods other than the close of the month. Make certain that "lapping" (the holding back of funds despite entry in the receipt records) is not possible. Compare your receipts with budgets, standards and ratios in daily or periodical reports. Investigate all unusual divergences from forecasts or normal trends. Make certain that it is impossible for cash to be taken by not reporting sales.
Be sure that unauthorized or improper allowances cannot be entered.

Make certain that it is not possible for cashbooks to be juggled or forced, particularly in the discount columns.

Be certain that it is not possible for a charge to be made to an expense account to cover abstracted cash which is to be credited to a customer.

Be sure that articles cannot be lost; for example: goods sold without an entry in your books; interest received from customers on their notes and accounts and not en­tered; proceeds from sales of by-products, waste, etc., not properly protected; interest or dividends due on investments but not received.

Check all deductions from remittances such as cash discounts, commissions, disputed sales, account payable, etc. Make certain that a cashier or salesman cannot misappro­priate any payments received on accounts that have been charged off.

One way to avoid fraud in your collection of charge ac­counts is to separate the people handling the customer's ledgers and those who handle collection of charge accounts. And you should require rigid approval of all reductions of customers' accounts for bad debts, allowances, discounts. Do this, too:

Review all reductions of accounts carefully.

Make the mailing of customers'  statements  a function of the accounting department. Make certain that reduction can be charged to no place other than the account provided.

HOW BONDING EMPLOYEES HELPS

You want to make full use of the protection and services afforded by the commercial casualty companies. They do more than pay losses, including the damage to insured property, prem­ises and fixtures resulting from actual or attempted crime. The insurance companies also:

Assist in "screening" employees, both present and prospective. Exercise moral restraint on employees, both old and new.
Assist in developing effective, efficient preventive measures against loss from dishonesty.

Assist in recovering if the loss exceeds the insurance. Inspect the premises and recommend proper physical protection against loss by burglary or robbery; i.e., safes, alarms, watchmen, bars, locks and other safeguards. Provide complete  protection of assets  against criminal  attack, from both inside and outside crimes.

HOW TO PROTECT AGAINST ROBBERIES

Secrecy is the best messenger protection for the average small businessman. Trips to the bank or other regular exposure should not occur at the same time every day and, if possible, not always on the same day.

Routes should be changed frequently. Several people should alternate in carrying the money. Another good practice is for the custodian to carry the money in several places on his person, assuming that a messenger satchel is not used.

Checks and money orders should not be included in the package or packages containing cash. The average thief destroys checks and money orders. He takes them only when they are in, or attached to, the packet containing cash. A separate package for these items frequently prevents complete loss.

Bank deposits should be made as late as possible each day. Before closing for week-ends or holidays, all cash but the amount necessary for reopening should be removed. Armored car service may be necessary for the removal. Or a large part of these funds may be deposited in a convenient night depository, if one is accessible.

The most effective measures available are these:

The use of an armed guard is a matter of judgment. In some neighborhoods a $500 exposure would make guard protection mandatory. In other districts a custodian traveling a short distance could safely carry several times that amount without a guard. Guards should never walk beside the custodian or ride in the same conveyance with him, but should follow him at a distance of 50 feet if on foot or 50 yards in a car.

It is preferable that money or other valuable property be trans­ported by private automobile or armored car, depend­ing on the circumstances and the amount involved. In addition to affording better protection, use of a conveyance facilitates transport of the property.

Handbags designed to frustrate messenger holdup are available on the market. Approved bags are lined with steel or mesh and are attached to the custodian or to the vehicle by means of a steel or wire strap or chain. A very effective bag is equipped with a harmless gun which shoots loudly and emits a trail of smoke when taken from the messenger.

A small steel safe or box commonly called a locker is obtainable from most safe companies. Designed for the use of custodians making cash collections, these safes or boxes are bolted to the car and have slots through which the funds received can be deposited so that in event of holdup they are inaccessible. This is excellent protection for collectors, salesmen, and drivers.

Holdup alarm systems are in common use to avoid store or shop robberies. Unfortunately, however, these devices are not very effective in preventing robbery. Because of the speed with which modern bandits operate, it is usually impossible for the police to respond in time to prevent loss. An alarm may frighten the inexperienced holdup man, however, particularly if a loud gong is set off.

Other useful aids are:

A slotted safe of the round-door, so-called "burglar-proof" type, has an inner slotted compartment into which money can be deposited. The door to this inner compartment is locked either with a delayed-control time lock or with two keys. The combination of the delayed-control type has to be set from 15 to 30 minutes before the door can be opened. Most bandits, as experience has proved, will not wait that long. If the two-key type is used, one key should be in charge of someone usually off the premises or at least well removed from the vicinity of the safe. When this type of safe is used in connection with the pickup service of an armored car company, one key may be given to them.

A tear-gas system of an approved type is effective in preventing robbery losses. These systems are usually operated by hand buttons or foot levels located in hidden places but easily accessible to the merchant or his clerks. In event of a holdup, pressing the button or lever releases tear gas from guns strategically placed about the premises. This renders the bandits more or less helpless.

A bandit-resisting enclosure may be needed in places handling large amounts of money. It is wise to explore the prac­ticability of such an enclosure. It can be constructed of bulletproof steel, wire and glass. There should be two doors, arranged in vestibule fashion with electrical controls from inside, so that only one can be opened at a time. When such enclosures are used, money must be delivered after the enclosure is occupied by the cashier or paymaster to frustrate early-morning kid­naping.

Casters should be removed from safes and, when possible, safes and chests should be embedded in concrete or bolted to the floor. This precaution prevents removal of the safe from the premises, to be blown open at leisure.

Safes and chests should be visible from outside the premises. A light should be kept burning above them at night. Local police should be notified of this practice.

Time-recording locks are used by many stores. Operated by a key and containing a tape on the inside, the lock automatically records the key number and the times of opening and closing the premises. These locks pro­vide an excellent check on employees. They also identify an employee entering the premises after hours, thus acting as a preventive against theft by him, whether acting alone or in collusion with others. Where this lock is used, an ideal arrangement is to install it on the front entrance and to deadlock and crossbar all other doors.

An auxiliary lock, operated independently of the ordinary spring mortise lock, should be installed on all doors. The bolt of these locks cannot be moved except by use of a key or an inside knob. A double cylinder deadlock is one which can be operated only by a key on either side of the door.

A crossbar of heavy wood or iron, placed horizontally across the inside of a door, is a good idea. The ends of the bar are held in sockets or supports securely bolted in place. If possible, the bar should be permanently fastened at one end and padlocked at the other. These bars are particularly useful for alley or poorly lighted entrances.

Sheet-metal reinforcement is sometimes desirable. When used, the metal should be at least 16 gauge (1/16 inch thick) and should be screwed to inside of the door with heavy screws or bolts not over 4 inches apart on all sides.

Screened or barred windows are good protection against break­ing and entering. This is particularly true for windows opening on alleys or other poorly lighted areas, sky­lights and occasionally display windows. Screens or bars are most effective when installed on the inside.
Grills (demountable screens of No. 9 gauge wire or light iron bars) should be used to protect glass door panels, show cases or show windows containing valuable dis­plays.

Electrically operated burglar-alarm systems are available on the market. Used on doors, windows and other openings, and occasionally on vulnerable walls, floors or ceilings, these devices are very effective in ringing loud alarms. They also signal a central office when entry is forced into the protected premises. Substantial discounts in burglary-insurance premiums are allowed for approved types.

Watchmen, if employed, should remain within the premises at all times after closing. A central station watchman signals an outside alarm company station or police station hourly to indicate all is well. A clock watchman records hourly rounds of the premises. The clock should be checked the following morning for omissions.

These and other protective measures will not completely eliminate the danger of burglary or robbery. The professional criminal is both well versed and well equipped in carrying on his business. But no experienced criminal takes unnecessary risks. The more effectively you set up safeguards, the less danger there is of a loss.

HANDLING CONFIDENCE MEN

Swindlers are constantly planning to separate gullible people from their money. There are a wide variety of business frauds whose complexity varies with the art of the swindler and the simple-mindedness of the victim. Various schemes are presented so plausibly that not only inexperienced men but even the most wary are frequently induced to make investments, only to find the promised returns are worthless. Here are a few of the more common frauds:

The advance-fee scheme has been used by many swindlers in a variety of frauds. Confidence men advertise in a trade journal that they are in a position to finance new business ventures through the right connections in the world of finance. A charge is made to all victims who respond to cover a "prospectus" and other "costs." The prospective businessman never hears from the promoters again.

Businessmen seeking sales have been solicited to put up a bond. The swindler never accepts a surety bond but always requires cash. After handing over the money to the confidence man, the victim never sees his slick friend again. A responsible bonding company will issue a surety bond for a small fee.

Mail-order schemes offer a lucrative field for swindlers. These swindlers require payment in advance, either in whole or in part. There is little hesitancy on the part of the businessman, particularly when the goods are in short supply. Many of these frauds find their victims in men who are anxious to get into business. Here are some of them:

A common fraud is to sell the rights to an exclusive distributor­ship, which proves to be anything but exclusive. In fact, upon investigation, the victim finds equally in­dustrious residents of the community are also "exclu­sive distributors" of the same product. In this type of fraud where goods are shipped to the so-called "exclu­sive distributor" the goods turn out to be inferior, shoddy, and usually unsalable.

One of the schemes in current vogue is the sale of exclusive territorial rights for vending machines. The territories are soon found by the purchaser to be exhausted, and, in many instances the vending machines are in a virtual state of collapse.

Catch slogans in persuasive advertising are used by a swindler to stimulate the victim's spirit of individual enterprise in purchasing an interest in a fake partnership or busi­ness. Some of these enterprises are non-existent. A swindler may say a store is for sale. The shop is filled with confederates of the swindler who create an atmosphere of false business activity. Investigation after purchase by the victim discloses that even the boxes on the shelves, which were supposedly filled with merchandise, are empty.

A wide variety of stock frauds are practiced, varying in detail with the skill and ingenuity of the operator. These promoters, on the basis of misrepresentations and dis­tortions, sell securities for enterprises which are des­tined to fail. A simple investigation by the victim would clearly show the lack of merit in the enterprise.

The state of New York (in connection with its stock-fraud activities) has issued the following cautions:

Know or find out the responsibilities of the person or firm or company asking you to purchase.

When the person is unknown to you, demand references and investigate. Do not be a victim of the one-call system. Take your time when strangers try to sell you securities.
Do not hesitate to ask your banker or your lawyer, the Chamber of Commerce, the Board of Trade or the Better Busi­ness Bureau what they think of the proposition.

Inquire of some reliable person or firm familiar with the character of the business in question for an opinion of both the standing and prospects of the company.

Do not believe that the sensational success of one company is a guarantee that any other company will succeed in the same business.

Remember that bonds become just as worthless as stocks when the security they represent is impaired.

Take notice that what may seem to you to be guarantees by promotors or stock salesmen may, after all, be legally considered nothing more than opinions or hopes or a statement of mere prospects. The value of a security depends upon the integrity and financial strength of the guarantor.

When printed agreements are offered for you to sign, re­member that separate promises by salesmen, if not in the printed agreement, are not binding upon the company.

If you become victimized by swindlers or are suspicious of the actions of any company or individual in transactions in securities, do not delay in notifying the Office of the State At­torney General. Not only do you thus place the crooks in the way of punishment, but you also protect other persons as well as yourself.

And above all else do not swap your safe investments or savings for worthless securities!

What can you do about it? The schemes tried and tested by confidence men and productive of rich returns to swindlers are repeated time and time again. As you read the reports of these swindlers, you will find that they do not vary much. The old vehicle is given a new coat of paint. But the skeleton of the old familiar scheme is always there.

The Post Office Department urges this: If you receive litera­ture through the mails advertising a fraudulent promotion, if you have reason for suspicion, or if you have been victimized by a swindler by use of the mail, immediately communicate with the Post Office Inspection Service.
Better Business Bureaus, Chambers of Commerce and banks are ready to offer their services and advice in connection with promotional schemes.

In addition, the following warnings should be heeded:

Before you sign a contract, read it and make certain you under­stand it. And don't fail to get a copy of the contract.

Many unhappy losses have resulted from turning over a signed blank to an unscrupulous promoter. Refuse to sign a blank form which is to be filled in later.

Do not hesitate to consult an expert concerning any problems about which you may be in doubt, even though the promoter may tell you that the matter is simple and that a man of your profound comprehension can easily understand it.

If the promoter says that you only have a limited time to act, or that you must decide right away, do not fall for this obvious bait. Don't be high-pressured into a financial venture which mature consideration will show cannot possibly succeed.

If a promoter flatters you, telling you what a brilliant fellow you are, and how quick you are to discern real value . . . beware!

Demand references. If the promoter hesitates or tires to evade the question, watch out—the chances are he is unable to provide them.

If a promoter is unwilling to disclose the terms of his proposal, claiming that it is a secret which will revolutionize the industry, do not make any investment until you have a full disclosure of the facts. In short, insist on proof at all times. And beware of promotions which will revolutionize an industry.

Finally,  remember you  won't get  anything for  nothing— that is, anything of value.

ALSO SEE THESE ADDITIONAL TITLES IN THE FORTUNE BUILDING LIBRARY

HOW TO START AND BUILD A SUCCESSFUL BUSINESS

by The J. K. Lasser Institute

For millions of individuals, one of the most cherished goals is to set up a successful business of their own. The path can be greatly smoothed by the right knowledge and the experience, such as is presented in con­venient, practical form in this book. The famed J. K. Lasser Institute, the country's foremost authority on profitable business and tax methods, has brought together in this book an extremely useful collection of tested ideas, techniques and methods for assuring business success, increasing profits and avoiding the pitfalls that cause business failures. Here is distilled, prac­tical guidance on such basic topics as Choosing the Best Form of Business, How to Obtain Financing and Credit, Records to Keep for Best Control, Tax-wise Savings, Buying a Business, Profitable Expansion, Insurance, handling Credit to Increase Sales Volume, Protection against Theft and Fraud, etc. This is an invaluable guide to show you the right path and ease many of the problems that arise in starting in building a business.

INVESTING FOR FINANCIALLY SUCCESSFUL RETIREMENT

by Sam Shulsky

There are many ways to build up funds for future retirement—and investing in stocks can be one of the most rewarding methods of putting extra funds to work to provide far more than a minimum fixed income during retirement years. Now a leading, nationally-syndicated investment analyst shows how to use stocks and bonds to protect your money against inflation, make it grow faster and return larger income. He shows you how to set up a plan for your own needs, how to invest to attain your goals, how to pick stocks for present and future income, what types of stocks give maximum safety, how to use bonds and convertibles, how to plan for greatest growth of capital, how to use mutual funds, how to build tax-free income if you are in high tax brackets, and more.

J. K. Lasser's
Accounting for Everyday Profit

How this Book can Help You:

Accounting has been called the language of business — but it is also indispensable in Government and highly useful in your everyday life. You already know more accounting than you think you do. If you read the newspapers, have a bank account, buy on credit, run your own business or work for a living, you can­not help coming into contact with accounting. From earliest times, whenever men gathered together in a community, some form of accounting has been neces­sary and useful.

Now the nation's leading accounting and business authorities, the famed J. K. Lasser Institute, bring you in this book a highly concise, common sense mastery of accounting principles and practice. Not only does this book give you a basic understanding of what accounting statements show and how they can guide you to the most profitable action, but it also demonstrates exactly how to carry out the accounting procedures that are so important. Here you actually see all the forms and records, how they are kept and how they are used, what they mean for your own profit and advancement.

Here, too, you will find a valuable review of differ­ent ways of doing business; applications of accounting to better understanding of company reports and your investments; more effective budgeting for every pur­pose; and, lastly, profitable tax planning that adds to your income.

Accounting for everyday profit will enable you to get where you want to go in your own business more quickly and more profitably; it will enable you to get ahead faster in any business through a better understanding of the life-blood of its functioning; and it will help you achieve greater financial security for yourself and your family by a more efficient han­dling of your own finances, investments and taxes.

See last page for other titles in the Library

AMERICAN RESEARCH COUNCIL, LARCHMONT, N. Y,

Effective Speaking for All Occasions

How this book can help you:

In business, in community and public affairs, and in your social life, the ability'to communicate effectively with other individuals can be one of your most useful tools to achieve success and build fruitful relationships. Whether you have been asked to deliver a few words in public or to a group, or asked to serve as a community chairman, invited to meet a prospective employer or to attend a social gathering — this book will help you meet the challenges and opportunities in these and many other everyday situations. It goes directly to the point and is packed with practical tips on a great variety of topics, as can be seen by these chapters:

1.	What Effective Speaking Can Mean to You	7.	People Can Be Fun
2.	Your Platform Manner	8.	"Mr. Chairman."
3.	Getting Your Message Across	9.	Developing Your Personality
4.	They're All in the Dictionary	10.	For the Distaff Side
5.	Prior Planning is the Key	11.	The Unseen Audience
6.	Think Your Way to Success	12.	The Complete Speaker

This book will be an invaluable companion and aid to help you achieve success — whatever your aims may be — in business, social life or com­munity activity. The author, Frederick Borden, is not only an experienced speaker and writer of many years standing, but has also been active in business and community affairs. He speaks from a wide range of practi­cal experience.

AMERICAN RESEARCH COUNCIL, LARCH MONT, N.Y.
Distributed to the Trade by The Citadel Press

PROFITING FROM FORMULA PLANS IN
THE STOCK MARKET         by David Jenkins

Here is an investment guide for investors who would like to sleep nights. It gives you the experience and tested techniques developed at a cost of many thousands of dollars- by research departments of financial institutions who manage hundreds of millions of dollars of investment funds. These are the plans used by market experts, investment advisers and fund managers to reduce risks and avoid errors of judgment. Formula Plans carry a double advantage; first, there are different formulas tested over many years and you can select one that meets your needs; second, once you follow a formula, it works for you virtually automatically so as to give you the financial benefits of investing in common stocks without many of the usual risks and worries. Here you see virtually all the formula plans in current use, their results, the answers to the question: Which formula is best for you? You see advantages and disadvantages of each plan; facts and figures on performance; simple, worry-proof plans like the constant dollar plan, so widely used by the big investment houses; the easy-to-apply "magic" of dollar averaging, as well as other plans that may help you. Whether you are a small investor or one who operates on a large scale, you will find in this book a new approach that carries with it greater security and peace of mind in your investing.

You are invited to send for the books you want to read.

AMERICAN RESEARCH COUNCIL LARCHMONT, NEW YORK Send me the titles I have checked below. For each book I enclose $1.00, plus 15^ for mailing charges.(If 5 or more books are ordered at one time, we pay mailing charges.) HOW TO START AND BUILD A SUCCESSFUL BUSINESS EFFECTIVE SPEAKING FOR ALL OCCASIONS BUILDING CAPITAL AND INCOME IN MUTUAL FUNDS INVESTING FOR FINANCIALLY SUCCESSFUL RETIREMENT PROFITING FROM FORMULA PLANS IN THE STOCK MARKET ACCOUNTING FOR EVERYDAY PROFIT ______________________________________ ______________________________________ Name ______________________________________ Adress______________________________________ City & Zone ________________ State ____________