Forging Ahead in Business. Alexander Hamilton Institute
Transportation
The Stock and Produce Exchanges
Accounting Practice and Auditing
Financial and Business Statements
Organization of the Alexander Hamilton Institute
Advisory Council
Joseph French Johnson, D.C.S., LL.D.Dean, New York University School of Commerce, Accounts and FinanceFrank A. Vanderlip, A.M., LL.D.FinancierT. Coleman duPont, D.C.S.Business ExecutiveJohn Hays Hammond, D.Sc., LL.D.Consulting EngineerJeremiah W. Jenks, PhD., LL.D.Research Professor of Government and Public Administration, New York University
Special Lecturers
Erastus W. Bulkley, Member of the firm, Spencer Trask and CompanyHerbert S. Collins, Vice-President, United Cigar Stores CompanyHenry M. Edwards, Auditor, New York Edison CompanyHarrington Emerson, Efficiency EngineerCharles Ernest Forsdick, Controller, Union Oil CompanyOrlando C. Harn, Chairman of Sales, National Lead CompanyA. Barton Hepburn, Chairman, Advisory Board, Chase National Bank, New YorkFrederic H. Hurdman, Certified Public AccountantLawrence M. Jacobs, Vice-President, International Banking CorporationJackson Johnson, Chairman, International Shoe Company, St. LouisFowler Manning, Director of Sales, Diamond Match CompanyFinley H. McAdow, Past President, National Association of Credit MenGeneral Charles Miller, Former Chairman of the Board, Galena-Signal Oil CompanyMelville W. Mix, President, Dodge Manufacturing CompanyEmmett H. Naylor, Secretary-Treasurer, Writing Paper Manufacturers' AssociationHolbrook F. J. Porter, Consulting EngineerWelding Ring, ExporterArthur W. Thompson, President, The Philadelphia Company of PittsburghFrederick S. Todman, General Manager, Hirsch, Lillienthal & CompanyJohn C. Traphagen, Treasurer, Mercantile Trust and Deposit Company of New YorkJohn Wanamaker, MerchantWalter N. Whitney, Vice-President, Continental Grocery Stores, Inc.
Authors, Collaborators and Staff Members
Albert W. Atwood, A.B., The Stock and Produce ExchangeBruce Barton, General PublicityDwight E. Beebe, B.L., CollectionsRalph Starr Butler, A.B., Marketing and MerchandisingGeoffrey S. Childs, B.C.S., Office MethodsEdwin J. Clapp, PhD., Transportation and Terminal FacilitiesRaymond J. Comyns, B.C.S., Personal SalesmanshipHerbert F. deBower, LL.B., Business PromotionRoland P. Falkner, PhD., Business StatisticsMajor B. Foster, M.A., Banking PrinciplesCharles W. Gerstenberg, Ph.B., LL.B., FinanceLeo Greendlinger, M.C.S., C.P.A. (N. Y.), Financial and Business StatementsJ. Anton deHaas, PhD., Foreign Trade and ShippingJohn Hays Hammond, Consulting EngineerEdward R. Hardy, Ph.B., Fire InsuranceWarren F. Hickernell, PhD., Business ConditionsSolomon S. Huebner, PhD., Marine InsuranceCharles W. Hurd, Business CorrespondenceJeremiah W. Jenks, PhD., LL.D., Relation of Government to BusinessJoseph French Johnson, D.C.S., LL.D., Economic Problems; Business EthicsWalter S. Johnson, B.A., B.C.L., Commercial LawEdward D. Jones, PhD., InvestmentsJohn G. Jones, Sales ManagementDexter S. Kimball, A.B., M.E., Cost Finding; Factory ManagementBernard Lichtenberg, M.C.S., Advertising PrinciplesFrank L. McVey, PhD., LL.D., EconomicsJohn T. Madden, B.C.S., C.P.A. (N. Y.), Accounting PracticeMac Martin, Advertising CampaignsG. F. Michelbacher, M.S., Compensation and Liability InsuranceT. Vassar Morton, Litt.B., Credit PracticeBruce D. Mudgett, PhD., Life InsuranceE. L. Stewart Patterson, Domestic and Foreign ExchangeFrederic E. Reeve, C.P.A., Accounting PrinciplesJesse H. Riddle, M.A., BankingFrederick C. Russell, B.C.S., AuditingBernard K. Sandwell, B.A., International FinanceWilliam W. Swanson, PhD., Money and BankingJohn B. Swinney, A.B., MerchandisingWilliam H. Walker, LL.D., Corporation Finance
THE LAW OF SUCCESS
During the winter of 1883 a slim, studious young man was working as assistant foreman in a greasy little machine shop at Aurora, Illinois. He was saving money with a view to spending the next year at the State University, and he was devoting every minute of his spare time to thought and reading. He was not making much of a stir in the world, and only a few of his close friends ever gave a second thought to his ambitions or prospects.
One of these friends was a newspaper reporter, a recent Harvard graduate. He, too, was interested in study, especially of financial questions, and he found it a pleasure to guide the reading of the young foreman. Many an evening the two friends spent in the discussion of great economic and financial problems. Though both men had their ambitions and dreams, it did not occur to either one that he would ever play a big part in solving these problems.
A few years later the Harvard graduate became financial editor of the Chicago Tribune and brought in the younger man as his assistant. During their years of newspaper work together they continued to study and think, and their knowledge of business principles and methods gradually broadened. They were fitting themselves almost without knowing it to step forward into positions of leadership.
Today, the former reporter is the head of a great university school of commerce; the assistant foreman became the president of the largest bank in the United States. One of these men is Joseph French Johnson, now Dean of the New York University School of Commerce, Accounts and Finance. The other is Frank A. Vanderlip, the great financier.
The life histories of most men who have succeeded in a large way are equally simple. They have looked ahead, they have planned, they have equipped themselves with all the business knowledge available, and success has followed. Success must follow. The law of success is as definite as the law of gravity. Here it is:
Prepare in advance for opportunities.
It