If the United States is to produce a nation of investors-as we must if we are to gain financial world-leadership-it is imperative that boards of directors be so constituted as to adequately represent the interests and inspire the complete confidence of investors of moderate substance.

Whenever possible, I like to have the supreme head of a company show me over the works. It is extremely illuminating to note the attitude of workers towards their boss, and equally interesting to note the attitude towards the workers. It is tragic to notice how many chief executives of large concerns are absolutely unknown, even by sight, to the rank and file of their workers.

Success consists of being and doing, not simply accumulating.

The man who has won millions at the cost of his conscience is a failure.

Here's a pointer culled from the careers of men who have attained notable success: Don't sit in your office during the hours prospects can be seen. Do your office work before or after the hours during which possible customers can be reached. This may mean adding an hour or two quite often to your day's work; but in times like this particularly, the securing of a satisfactory amount of business through the expenditure of an extra hour or two a day is not an unreasonable price to pay.

It can be set down as a broad, general principle that we cannot indulge in idleness and abundance during both the first and second half of our life. Study, application, industry, enthusiasm while we are young usually enable us to enjoy life when we grow older. But unless we toil and strive and earn all we can in the first half, the second half of our life is liable to bring disappointment, discomfort, distress. The time to put forth effort is when we are most able to do it, namely, in the years of our greatest strength. The law of compensation hasn't ceased to function.

A shady business never yields a sunny life.