1905 The Hoffman House Bartender's Guide by Charles S. Mahoney

And it might be just as well to find out what his real reasons are for selling. The investigation cannot be too rigid, and the con ditions of the mortgage should he thoroughly under stood; the amount, the rate of interest, and the date when it expires, not forgetting the rent, the length of the lease, whether it can be renewed or not, and upon what terms, and if it is liable to be increased. Then ascertain the amount of legitimate business done, the value of the stock on hand—not watered the condition of the fittings or furnishings, and what repairs and improvements are necessary. Then fig ure up the daily expenses—and it is best to allow a fairly liberal estimate for these. When you have finished the material you have in hand will enable you to decide just about what kind of an investment you are making. If the place doesn't figure as worth the money, don't delude yourself with the idea that you can build it up into a paying investment, even though you have talent in that direction. It is always easier to buy than it is to sell, and there is many a leak in an apparently prosperous saloon. It might be just as well tO' find out if the owner had any judgments against him, or if he were about to be proceeded against legally, as well as the reputa tion of his saloon. If it has a bad name in the neighborhood, find out why. The liquor in stock may or may not be paid for,

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