Next to valuation of tools and fixtures, the amount of merchandise kept in stock is a good index of the magnitude of the business done by many enterprises. Of course, the business of brokers, express and moving-van firms, employment agencies, and some miscellaneous enterprises could not be measured by the amount of stock kept on hand. Also barber shops and pool and billiard rooms sometimes keep a small stock of cigars, tobacco, _etc._ So these firms can not be so measured. The statements about merchandise on hand were accurately estimated either from figures on the books of the firm or from rough inventories of the stock on hand made with the assistance of the proprietor. Negro business enterprises for the most part are small retail enterprises and do business on the scale of establishments of this type. They have not yet accumulated the capital nor gained the credit to engage in wholesale trade or to carry a stock of merchandise large in quantity or variety such as an extensive patronage demands. But they do handle a considerable amount of business with the small capital they have to invest. When this is compared with the gross receipts for 1907 and 1908 the showing is very creditable. TABLE XXIV. ESTIMATED VALUATION OF MERCHANDISE ON HAND IN 241 NEGRO BUSINESS ENTERPRISES, MANHATTAN, 1909. ----------------------------+------------------------------------------ |Estimated valuation of stock on hand. +------+------+------+------+------+------+ Class of | Less | $50 | $100 | $200 | $400 | $600 | establishment. | than | to | to | to | to | to | | $50. | $99. | $199.| $399.| $599.| $799.| ----------------------------+------+------+------+------+------+------+ Barber shops | 14 | 2 | 3 | 1 | -- | -- | Brokers | -- | -- | -- | -- | -- | -- | Coal, wood and ice | 13 | 2 | 2 | 2 | -- | -- | Dressmaking and millinery | -- | -- | 1 | -- | -- | 1 | Employment agencies | -- | -- | -- | -- | -- | -- | Express and moving vans | -- | -- | -- | -- | -- | -- | Groceries | -- | 1 | 4 | 14 | 8 | 7 | Hairdressers, etc. | 3 | -- | -- | 2 | -- | -- | Hotels and lodging houses | 1 | -- | -- | 1 | -- | -- | Pool and billiard rooms[A] | 3 | -- | -- | 1 | -- | -- | Printers | 1 | -- | -- | -- | -- | -- | Restaurants and lunch rooms | -- | -- | -- | -- | -- | -- | Saloons and cafés | -- | -- | -- | 1 | 1 | -- | Tailoring, pressing, etc. | 5 | 4 | -- | -- | -- | -- | Undertakers | -- | -- | -- | 3 | 1 | -- | Miscellaneous | 12 | 4 | 4 | 8 | -- | 1 |