One evening Joe and Jack arrived at the building in a pelting rain which had appeared without warning, and the exclamations of dismay which he overheard as the feminine population of the building faced the alternative of getting wet or being late for supper put a new idea in Joe’s mind. The next day a sign appeared over the stand: “Umbrellas for Rent.” They put in a dozen cheap cotton umbrellas which, if not much to look at, performed their mission satisfactorily. Customers, if they worked in the building, merely left their names, paid a quarter and were supplied with protection from the rain. In the course of time the dozen dwindled to five or six, but by that time each had paid for itself thrice over and instead of wasting effort in recovering the missing ones Joe bought more. About this time an automatic telephone instrument was installed on the counter and proved a great convenience to the boys and to others as well.
At the end of the first four weeks of business the partners went over their books—or book, to be more accurate. They found that they had expended for stock, rent, clerk’s wages and incidentals the sum of $226.50, that they had taken in $324.17, and that their net profit was $97.67. While less than the estimate Joe had made, the amount was held to be satisfactory, for Joe’s estimate had taken no account of clerk’s wages and they were paying Mr. Chester Young ten dollars a week. Something like thirty per cent. profit ought to have satisfied anyone!
They paid off all indebtedness—there were no accounts save that with the news company, which they settled weekly—set aside the amount due Mr. Adams for rent to date and halved the balance, each receiving as his share the sum of $48.83. The odd cent was left in the treasury! Then Joe paid back to his partner the borrowed thirty dollars, with interest at six per cent., although Jack insisted that Joe should wait until the end of the next month at least. But Joe preferred to get square, he declared, and proceeded to do so by paying most of the eighteen dollars remaining to him to Aunt Sarah for board and rent.
Jack’s father laughingly told them that he thought they had been in rather a hurry to divide the profits and that it might have been a good idea to have left a portion of the money in the business. Joe, however, explained that they would have to buy nothing for nearly a week, except the newspapers, and by that time they would have accumulated more profits. “You see, sir, we’re taking in about fifteen dollars a day on an average, and of that nearly four dollars and a half is clear profit. So we won’t have to keep any balance on hand.”
“I see,” said Mr. Strobe gravely. “And what do you intend to do with all the money you make, boys?”
“I’m going to put mine in the bank, I guess,” answered Jack. “I’ve tried to think of something to spend it for, but I can’t!”
“And how about you, Joe?”
“I think I’ll start a bank account, too, sir, but I won’t be able to for another month at least. I pay three dollars a week to Aunt Sarah, you know, and I’d like to send a little money to my mother.”
“You could have done that now if you hadn’t paid back that thirty,” said Jack reproachfully.