Article June 5, 1937 Issue

Inventories

BENJAMIN WOLF

In the business world, with the approach of the end of the calendar year, come thoughts of annual inventories, or the taking of stock. "Inventory" is defined in part as "an itemized list of goods or valuables, with their estimated worth." The listing of the assets of a business concern in this manner is a proper step, because it gives the owner a more definite knowledge of the progress made, or if there has been no progress it affords opportunity to discover and correct past mistakes.

Besides these material assets, intangible but valuable items such as "trade name" or "good will of the business" are recognized. The value of these is based on the extent to which the public has patronized the concern with profitable business. Patronage is largely due to the fact that the management of a business is characterized by qualities such as honesty, kindness, and mutual good will.

It is a good thing for individuals to take inventory of their spiritual assets, to determine their progress and to correct any discovered error. In the fourth chapter of II Kings we read the helpful story of the widow who was oppressed by her creditor, who threatened to take her two sons and hold them as bondmen. When she appealed to Elisha for help, he required of her an inventory of her possessions, asking, "What hast thou in the house?" She replied, "Thine handmaid hath not any thing in the house, save a pot of oil." Elisha bade her borrow more pots. She obeyed, and following his command, filled them all out of her one pot. She then sold the oil and paid her debts, and lived on the rest.

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