“Francis Cooper.” The reasons that required this nom de plume -for nom de plume it was no longer exist, and the author, under his own name, very willingly assumes the responsibilities that such authorship involves. The fact that a work on practical finance has achieved a fair publishing success under the heavy handicap of anonymous authorship seems to indicate that it does meet some need. The author trusts that these gleanings from experience will prove helpful to those into whose hands these volumes may come and save some of them at least from the costly and disastrous mistakes so common when enterprises are to be financed. He may add in conclusion that while he is not now engaged in promotion work, either directly or indirectly, he is still much interested in promotion problems and is desirous of making the present volumes of the greatest possible assistance to those who must solve these problems. He will therefore greatly appreciate any criticisms, suggestions, or experiences from those "in the field" which may help to make future editions more complete and more generally useful. HUGH R. CONYNGTON. New York City, May 15, 1921. CONTENTS Status and Requirements of Financing “Scotching" the Swindling Stock Salesman The Enterprise and Its Promoter The Work of Financing—Conditions vs. Theory The Opportunity for the Good Enterprise Part II—The Enterprise Legitimate Speculative Development Why Unsound Enterprises Are Selected for Financing Results of Financing Unsound Enterprises Enterprises Dependent Upon Public Favor for Success Importance of Efficient Management Inefficiency of Únorganized Effort Requirements of Good Management Unseen Losses of Inefficient Management A Valuation of Good Management, Good Management in the Newspaper Field Reasons for Inadequate Capital-Deficient Estimates Estimating Capital Requirements Providing for Adequate Capital Part III-Investigation of an Enterprise VIII IMPORTANCE OF INVESTIGATION For Whom Investigation is Important Reasons for Inadequate Investigation Results of Inadequate Investigation A Loss that Should Have Been Avoided Investigation Prevented by Conditions IX INVESTIGATION OF AN UNINCORPORATED ENTERPRISE. Scope and Purpose of an Investigation X INVESTIGATION OF AN INCORPORATED ENTERPRISE- Purpose of the Investor's Questions XI INVESTIGATION OF NON-SPECULATIVE ENTERPRISES Speculative and Non-Speculative Enterprises Investigation of a Store Location |