For pedagogical reasons, an effort has been made to include in most of the problems used a sufficient amount of first-hand data to enable the reader to reason out the logical conclusion. Very frequently, also, actual solutions have been given with a view to eliciting oriti cal comment. In pursuance of this policy, therefore, some material bearing on the internal financial con duct of business concerns has been collected, which is probably not elsewhere available in printed form. The Appendix contains some significant statistical data, a part of which is now published for the first time and much of which is not readily accessible. These facts should make the book of more use and interest to the general reader as well as to the student. Since the problem method of teaching business sub jects is still in its infancy, it is no simple task to secure financial data which will effectively serve the purpose of the instructor. Time is required for the ripening process. The present book of problems has been put together with a good deal of haste, primarily for the benefit of the author's own students. He is, accordingly, conscious of many shortcomings in the work, some of which may be remedied in future editions if the public calls for them. Hence, suggestions and criticisms of every sort, from any source, will be doubly welcome.