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Chapter 10: Corporate Governance
1. Two important issues in corporate governance are (1) the rules that cover the board's ability to fire the CEO and (2) the
rules that cover the CEO's ability to remove members of the board.
a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Difficulty: Easy
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: IFMG.DAVE.19.10.02 - LO: 10-2
NATIONAL STANDARDS: United States - BUSPROG: Reflective Thinking
STATE STANDARDS: United States - AK - DISC: Financial statements, anal - DISC: Financial statements, analysis,
forecasting, and cash flows
LOCAL STANDARDS: United States - OH - Default City - TBA
TOPICS: Corporate governance
KEYWORDS: Bloom’s: Knowledge
DATE CREATED: 10/30/2017 8:06 PM
DATE MODIFIED: 1/6/2018 1:42 PM
2. A poison pill is also known as a corporate restructuring.

a. True
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Difficulty: Moderate
KEYWORDS: Bloom’s: Comprehension
3. The CEO of D'Amico Motors has been granted some stock options that have provisions similar to most other executive
stock options. If D'Amico's stock underperforms the market, these options will necessarily be worthless.
a. True
b. False
ANSWER: False
POINTS: 1
Copyright Cengage Learning. Powered by Cognero. Page 1

TOPICS: Stock options
4. Which of the following is NOT normally regarded as being a barrier to hostile takeovers?
a. Targeted share repurchases.
b. Shareholder rights provisions.
c. Restricted voting rights.
d. Poison pills.
e. Abnormally high executive compensation.
ANSWER: e
POINTS: 1
QUESTION TYPE: Multiple Choice
NATIONAL STANDARDS: United States - BUSPROG: Analytic
KEYWORDS: Bloom’s: Analysis
OTHER: TYPE: Multiple Choice: Conceptual
5. ESOPs were originally designed to help improve worker productivity, but today they are also used to help prevent
hostile takeovers.
a. True
b. False
ANSWER: True
POINTS: 1
TOPICS: ESOP
6. Which of the following is NOT normally regarded as being a good reason to establish an ESOP?
a. To enable the firm to borrow at a below-market interest rate.
b. To make it easier to grant stock options to employees.
c. To help prevent a hostile takeover.
d. To help retain valued employees.
e. To increase worker productivity.
ANSWER: b
RATIONALE: Statement b is the correct answer, because firms can easily grant stock options to employees
without an ESOP.
POINTS: 1
TOPICS: ESOP
KEYWORDS: Bloom’s: Analysis
7. Which one of the following statements is TRUE?

a. An agency relationship is when someone hires someone else to perform a service and gives them decision-
making authority.
b. An agency relationship is when an agent hires a principal to perform a service.
c. An agency relationship is when a principal works for an agent.
d. In an agency relationship, the agent delegates authority to the principal.
e. An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of
directors.
ANSWER: a
POINTS: 1

a. An agency relationship is when a principal hires an agent to perform a service and gives them decision-making
authority.
b. An agency relationship is when a principal works for an agent.
c. In an agency relationship, the agent delegates authority to the principal.
d. An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of
directors.
e. An example of an agency relationship is when a supervisor hires a forklift operator.
ANSWER: a
POINTS: 1

a. In an agency relationship, the principal delegates decision-making authority to the agent.
b. In an agency relationship, the agent delegates authority to the principal.
c. An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of
directors.
d. An example of an agency relationship is when a supervisor hires a forklift operator.
e. The supervisor-employee relation between a production line supervisor and a production line operator is an
example of an agency relationship.
ANSWER: a
POINTS: 1

a. An example of an agency relationship is when the board of directors hires a CEO to run a company.
b. An example of an agency relationship is when the CEO nominates a slate of candidates to be on the board of
directors.
c. An example of an agency relationship is when a supervisor hires a forklift operator.
d. The supervisor-employee relation between a production line supervisor and a production line operator is an
e. An agency cost is the wage required to pay someone who is hired to perform a service.
ANSWER: a
POINTS: 1

a. An example of an agency relationship is when a private individual hires a lawyer to prepare her defense in a
lawsuit.
b. An example of an agency relationship is when a supervisor hires a forklift operator.

c. The supervisor-employee relation between a production line supervisor and a production line operator is an
d. An agency cost is the wage required to pay someone who is hired to perform a service.
e. An example of an agency cost is when the board of directors pays a dividend to shareholders.
ANSWER: a
POINTS: 1

a. An agency cost is the reduction in firm value due to agency conflicts.
b. An agency cost is the wage required to pay someone who is hired to perform a service.
c. An example of an agency cost is when the board of directors pays a dividend to shareholders.
d. An example of an agency cost is when an attorney hires an expert witness for a trial.
e. The commission required by the Federal Housing Agency for a small business loan is an example of an agency
cost.
ANSWER: a
POINTS: 1

a. An example of an agency cost is when an outside investor is only willing to pay less for stock because she
thinks the original owner will consume too many perquisites.
b. An example of an agency cost is when the board of directors pays a dividend to shareholders.
c. An example of an agency cost is when an attorney hires an expert witness for a trial.
d. The commission required by the Federal Housing Agency for a small business loan is an example of an agency
cost.
e. An example of an agency cost is the salary of the agent hired to work for the principal.
ANSWER: a
POINTS: 1

a. Asset switching occurs when a company borrows money for a safe investment but uses it for a
risky investment.
d. The commission required by the Federal Housing Agency for a small business loan is an example of
an agency cost.
e. An example of an agency cost is the salary of the agent hired to work for the principal.
ANSWER: a
POINTS: 1

a. An example of asset switching is when a company borrows for a new manufacturing facility but then uses it
to repurchase its own stock.
b. An example of an agency cost is when an attorney hires an expert witness for a trial.
c. The commission required by the Federal Housing Agency for a small business loan is an example of
an agency cost.
d. An example of an agency cost is the salary of the agent hired to work for the principal.
e. Creditors have a claim on a firm's earning stream through the dividend payments they receive.
ANSWER: a
POINTS: 1

a. An example of asset switching is borrowing money to buy equipment but instead taking it to Las Vegas to
gamble with it.
b. The commission required by the Federal Housing Agency for a small business loan is an example of an agency
cost.
c. An example of an agency cost is the salary of the agent hired to work for the principal.
d. Creditors have a claim on a firm's earning stream through the dividend payments they receive.
e. An example of asset switching is an option to exchange one piece of real estate for another.
ANSWER: a
POINTS: 1

a. Lenders will protect themselves from asset switching by charging a higher interest rate.
b. Creditors have a claim on a firm's earning stream through the dividend payments they receive.
c. An example of asset switching is an option to exchange one piece of real estate for another.
d. Lenders can't legally prevent a firm from engaging in asset switching.
e. Firms borrowing money have greater flexibility to use that money when there are debt covenants.
ANSWER: a
POINTS: 1
QUESTION TYPE: Multiple Response

a. Lenders will protect themselves from the risk of asset switching by writing debt covenants into loans.
b. Lenders can't legally prevent a firm from engaging in asset switching.
c. Firms borrowing money have greater flexibility to use that money when there are debt covenants.
d. When lenders protect themselves from the risk of asset switching by charging a higher interest rate, the firm's
WACC can decrease.
e. A lender calling in a corporate loan and then lending the funds out to a safer borrower is an example of asset
switching.
ANSWER: a
POINTS: 1

a. When lenders protect themselves from the risk of asset switching, the firm's WACC can increase.
d. An example of asset switching is an option to exchange one piece of real estate for another.
e. Lenders can't legally prevent a firm from engaging in asset switching.
ANSWER: a
POINTS: 1

a. When lenders protect themselves from the risk of asset switching, the borrowing firms will be limited in the
projects they can profitably undertake.
b. An agency relationship is when a principal works for an agent.
c. In an agency relationship, the agent delegates authority to the principal.
d. Firms borrowing money have greater flexibility to use that money when there are debt covenants.
e. When lenders protect themselves from the risk of asset switching by raising the interest rate, the firm's WACC
can decrease.
ANSWER: a
POINTS: 1

a. An agency problem occurs when an owner/manager sells stock to an outsider but continues to consume
perquisites.
b. Firms borrowing money have greater flexibility to use that money when there are debt covenants.
c. When lenders protect themselves from the risk of asset switching by raising the interest rate, the firm's WACC
can decrease.
d. A lender calling in a corporate loan and then lending the funds out to a safer borrower is an example of asset
switching.
e. A supplier substituting a lower-quality raw material without approval is an example of asset switching.
ANSWER: a
POINTS: 1

a. Outside shareholders will pay less for stock if they think the original owners will consume perquisites.
b. Creditors have a claim on a firm's earning stream through the dividend payments they receive.
c. An example of asset switching is an option to exchange one piece of real estate for another.
d. An agency cost is the wage required to pay someone who is hired to perform a service.
e. An example of an agency cost is when an attorney hires an expert witness for a trial.
ANSWER: a
POINTS: 1


a. When an owner/manager sells stock to an outsider, that outsider now bears some of the costs of the
owner/manager's perquisite consumption.
b. Lenders can't legally prevent a firm from engaging in asset switching.
c. Firms borrowing money have greater flexibility to use that money when there are debt covenants.
d. When lenders protect themselves from the risk of asset switching, the firm's WACC can decrease.
e. A lender calling in a corporate loan and then lending the funds out to a safer borrower is an example of asset
switching.
ANSWER: a
POINTS: 1

a. A corporate golf club membership is an example of a nonpecuniary benefit
b. Firms borrowing money have greater flexibility to use that money when there are debt covenants.
c. When lenders protect themselves from the risk of asset switching by raising the interest rate, the firm's WACC
can decrease.
d. A lender calling in a corporate loan and then lending the funds out to a safer borrower is an example of asset
switching.
e. A supplier substituting a lower-quality raw material without approval is an example of asset switching.
ANSWER: a
POINTS: 1

a. A corporate executive health club is an example of a nonpecuniary benefit.
b. When lenders protect themselves from the risk of asset switching by raising the interest rate, the firm's WACC
can decrease.
c. A lender calling in a corporate loan and then lending the funds out to a safer borrower is an example of asset
switching.
d. A supplier substituting a lower-quality raw material without approval is an example of asset switching.
e. An agency problem occurs when an owner/manager sells stock to an outside investor and the owner/manager
fears the outside investor will consume too many perquisites.
ANSWER: a
POINTS: 1

a. Personal use of the corporate jet is an example of a nonpecuniary benefit.
b. A supplier substituting a lower-quality raw material without approval is an example of asset switching.
c. An agency problem occurs when an owner/manager sells stock to an outside investor and the owner/manager
d. An agency conflict between inside owners/managers and outside owners occurs when the outside owners sell
their shares to someone else.
e. A quarter-end bonus is an example of a nonpecuniary benefit.
ANSWER: a
POINTS: 1

a. A manager/shareholder agency conflict arises when the manager's actions aren't in the company's best interest.
b. An agency problem occurs when an owner/manager sells stock to an outside investor and the owner/manager
c. An agency conflict between inside owners/managers and outside owners occurs when the outside owners sell
their shares to someone else.
d. A quarter-end bonus is an example of a nonpecuniary benefit.
e. A company's matching contribution to a retirement plan is a nonpecuniary benefit.
ANSWER: a
POINTS: 1

a. A manager avoiding a positive NPV but risky project is an example of a manager-shareholder conflict.
b. Management is said to be entrenched when the company is doing badly and is "stuck in a rut."
c. A quarter-end bonus is an example of a nonpecuniary benefit.
d. A company's matching contribution to a retirement plan is a nonpecuniary benefit.
e. Company sponsorship of a local charity is an example of a nonpecuniary benefit.
ANSWER: a
POINTS: 1

a. A manager not closing a factory that is losing money but which is in his hometown is an example of a
manager-shareholder conflict.
b. Management is said to be entrenched when the senior managers are consuming excessive perquisites
c. A company's matching contribution to a retirement plan is a nonpecuniary benefit.
d. Company sponsorship of a local charity is an example of a nonpecuniary benefit.
e. A manager/shareholder agency conflict arises when shareholders sell their stock even though management
says the stock is undervalued.
ANSWER: a
POINTS: 1

a. Management is said to be entrenched when senior managers are unlikely to be fired.
b. A company's matching contribution to a retirement plan is a nonpecuniary benefit.
c. Company sponsorship of a local charity is an example of a nonpecuniary benefit.
d. A manager/shareholder agency conflict arises when shareholders sell their stock even though management
says the stock is undervalued.
e. A manager/shareholder agency conflict arises when the board of directors pays a larger dividend than the
firm's earnings could support.
ANSWER: a
POINTS: 1

a. One tool of corporate governance is the threat of removing current management.
b. The commission required by the Federal Housing Agency for a small business loan is an example of an agency
cost.
c. One tool of corporate governance is the choice of how much dividends to pay.
d. Corporate governance is when an officer of a corporation is elected to public office.
e. One tool of corporate governance is the location of the company headquarters.
ANSWER: a
POINTS: 1


a. One tool of corporate governance is monitoring management.
b. One tool of corporate governance is the choice of how much dividends to pay.
c. A company's matching contribution to a retirement plan is a nonpecuniary benefit
d. One tool of corporate governance is stock repurchases.
e. Corporate governance is better when Directors are also employees of the company so they know the business
very well.
ANSWER: a
POINTS: 1

a. One tool of corporate governance is how the company's charter affects the likelihood of a takeover.
b. One tool of corporate governance is stock repurchases.
c. One tool of corporate governance is a company's tax avoidance strategy.
d. One tool of corporate governance is choosing a good investment banker.
e. Creditors have a claim on a firm's earning stream through the dividend payments they receive.
ANSWER: a
POINTS: 1

a. One tool of corporate governance is the use of accounting control systems.
b. An example of asset switching is an option to exchange one piece of real estate for another.
c. One tool of corporate governance is the location of the company headquarters.
d. An example of an agency relationship is when a supervisor hires a forklift operator.
e. One tool of corporate governance is a company's tax avoidance strategy.
ANSWER: a
POINTS: 1

a. A classified board is one in which the board members have staggered terms.
b. One tool of corporate governance is a company's tax avoidance strategy.
c. One tool of corporate governance is choosing a good investment banker.
d. A classified board is one in which the board members serve anonymously.
e. A classified board is one in which an announcement requesting applications for board members appears in the
newspaper.
ANSWER: a
POINTS: 1

a. If a company has a classified board, fewer board seats are filled each year.
b. One tool of corporate governance is choosing a good investment banker.
c. A classified board is one in which the board members serve anonymously.
d. A classified board is one in which an announcement requesting applications for board members appears in the
newspaper.
e. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each
year.
ANSWER: a
POINTS: 1

a. It is harder for dissidents to gain board seats if a company's board is classified.
b. A classified board is one in which an announcement requesting applications for board members appears in the
newspaper.
c. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each
year.
d. Inside directors are more concerned with shareholders' interests since they are more closely concerned with
firm operations.
e. Management is said to be entrenched when the senior managers are consuming excessive perquisites.
ANSWER: a
POINTS: 1

a. An inside director is a board member who also holds a managerial position in the company.
b. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each
year.
c. Inside directors are more concerned with shareholders' interests since they are more closely concerned with
firm operations.
d. Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them
on the board.
e. Company sponsorship of a local charity is an example of a nonpecuniary benefit.
ANSWER: a
POINTS: 1

a. An outside director is a board member who has no other affiliation with the company.
b. A classified board is one in which an announcement requesting applications for board members appears in the
newspaper.
c. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each
year.
d. Inside directors are more concerned with shareholders' interests since they are more closely concerned with
firm operations.
e. Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them
on the board
ANSWER: a
POINTS: 1

a. Inside directors are likely to side with the CEO since they are employees.
b. In a classified board, it is easier for dissidents to gain representation since fewer seats are up for election each
year.
c. Inside directors are more concerned with shareholders' interests since they are more closely concerned with
firm operations.
d. Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them
on the board.
e. The more members of a board of directors, the better its function.
ANSWER: a
POINTS: 1

a. Frequently, large boards of directors are less effective than small boards of directors.

b. Since outside directors have no other connection with the firm, they are indebted to the CEO for putting them
on the board.
c. The more members of a board of directors, the better its function.
d. A company has an interlocking board of directors if the CEO also serves as the chairman of the board of
directors.
e. A company whose board members are elected in staggered terms is said to be an interlocking board of
directors.
ANSWER: a
POINTS: 1

a. Companies with interlocking boards of directors have directors that serve on both boards.
b. The more members of a board of directors, the better its function.
c. A company has an interlocking board of directors if the CEO also serves as the chairman of the board of
directors.
d. A company whose board members are elected in staggered terms is said to be an interlocking board of
directors.
e. A shareholder-friendly charter will make it harder for a company to be acquired.
ANSWER: a
POINTS: 1


a. A shareholder-friendly charter will make it easier for a company to be acquired.
b. A company whose board members are elected in staggered terms is said to be an interlocking board of
directors.
c. A shareholder-friendly charter will make it easier for shareholders to meet with the CEO if they have
concerns.
d. A targeted share repurchase can be used to encourage a hostile takeover.
e. An example of an agency cost is when the board of directors pays a dividend to shareholders.
ANSWER: a
POINTS: 1

a. A targeted share repurchase is when the company purchases stock from one shareholder at a higher price than
it offers to other shareholders.
b. An example of asset switching is an option to exchange one piece of real estate for another.
c. A shareholder-friendly charter will make it harder for a company to be acquired.
d. A targeted share repurchase can be used to encourage a hostile takeover.
e. Anti-takeover charter provisions are good for shareholders because they prevent a raider from stealing the
company for a below-market price.
ANSWER: a
POINTS: 1

a. A targeted share repurchase can be used to prevent a hostile takeover.
b. A targeted share repurchase can be used to increase the stock price if the company is undervalued.
c. Anti-takeover charter provisions are good for shareholders because they prevent a raider from stealing the
d. Shareholders want to prevent takeovers because they don't want the company purchased out from under them.
e. One tool of corporate governance is choosing a good investment banker.
ANSWER: a
POINTS: 1

a. Shareholders benefit when the company is acquired because they usually receive a higher price for their shares
b. Anti-takeover charter provisions are good for shareholders because they prevent a raider from stealing the
c. Shareholders want to prevent takeovers because they don't want the company purchased out from under them.
d. A shareholder rights provision encourages takeovers because shareholders have the right to approve the
takeover if the terms are good.
e. A classified board is one in which the board members serve anonymously.
ANSWER: a
POINTS: 1


a. A shareholder rights provision discourages takeovers because the acquiring company will suffer dilution.
b. A company has an interlocking board of directors if the CEO also serves as the chairman of the board of
directors.
c. A company whose board members are elected in staggered terms is said to have an interlocking board of
directors.
d. Shareholders want to prevent takeovers because they don't want the company purchased out from under them.
e. A classified board is one in which the board members serve anonymously.
ANSWER: a
POINTS: 1
48. A company issues bonds saying that it will use the proceeds for a safe investment. Instead, it uses the proceeds for a
risky investment. Which of the following statements is true about this situation.
a. This is an example of asset switching or bait and switch.
b. What the company does with the funds once it raises them isn't the business of the debtholders.
c. This will result in an increase in the value of the debt because the company is riskier.
d. All of the above.
e. None of the above.
ANSWER: a
POINTS: 1

49. A company issues bonds saying that it will use the proceeds for a safe investment. Instead, it uses the proceeds for a
risky investment. Which of the following statements is true about this situation.
a. This will result in a decrease in the value of the debt because the company is riskier.
b. This will result in a decrease in the value of the equity because the company is riskier.
c. This will result in a lawsuit from the stockholders because it is bait and switch.
d. This will cause bondholders to convert their bonds to stock.
e. Dividends will go up to compensate shareholders for their increased risk.
ANSWER: a
POINTS: 1
50. Which one of the following corporate board characteristics usually improves corporate governance?
a. CEO is not the chairman of the board.
b. The board has many outsiders who have lots of other important commitments.
c. The board is as large as is possible.
d. Board members are paid at a rate higher than their peers and their payment is mostly cash.
e. The board has a majority of insiders from company management on it who bring first-hand knowledge of how
the company operates.
ANSWER: a
POINTS: 1

51. Which one of the following corporate board characteristics usually improves corporate governance?
a. The board has a majority of outsiders who have experience and aren't too busy.
b. CEO is the chairman of the board.
c. The board is as large as is possible.
d. Board members are paid at a rate higher than their peers and their payment is mostly cash.
e. The board has a majority of insiders from company management on it who bring first-hand knowledge of how
the company operates.
ANSWER: a
POINTS: 1

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CHAPTER XX
WHAT CAN TAKE AWAY MY SINS?

Objects used: Large transparent jar of clear water; a small quantity
of oxalic acid; some powdered ox gall; a quantity of tincture of iron; a
small cluster of flowers; a few coins; a dictionary, It is a lesson with
chemical effects.
WHAT CAN WASH AWAY MY SINS?

A Chemical Talk
P
LACE on the table a large jar of plain untinted glass; fill it two-
thirds full of water and before the class assembles drop in a
few drops of tincture of iron. This receptacle we will call the
Human Heart. Secure a two-ounce bottle, paint it red, in which you
place a strong solution of oxalic acid. You cannot get this solution too
strong. This represents the Blood. Secure a third bottle and paint it
black. In this place some powdered nut galls. This represents Sin.
On the table have,—a silver coin, a music box, a cup of pure water.
These you will use in the body of the lesson later. Announce that you
will choose a text for your talk this time and it will be found in I John
1:17. "The blood of Jesus Christ, His Son, cleanseth us from all sin."
Call attention to the large jar which represents the Human Heart. To
all appearance it looks as pure as a lily. There seems to be nothing
in it to make it evil. It does not look like evil. So it often happens that
the evil in us, does not always show on the surface, but is hidden
away in our heart. It was born in us. All men are not born sinners, but
born in sin, and later on, that sin manifests itself, and we begin to
choose evil in preference to the right, and that makes us sinners.
The seed of sin was hidden deep in the heart. The jar apparently
pure has in it a hidden property no eye can see, but it is there and
when evil gets in it finds a response from that hidden power and at
once the apparently pure water has turned black with sin. I now pour
a few drops from the black bottle, the evil bottle, into the jar. Even
these few drops seem to be clear and white also, but when I drop
them into the jar of water, all is blackened because the apparent
cleanness was only on the surface. "There is a way that seemeth
right in the eyes of men, but the ways thereof are the ways of death."
You can now talk about things which men do which they say are not
bad. They look all right, that is true, but when they enter the soul,
they soil it, and sin is supreme. What shall I do to get rid of my sin?
What can take away my sin? Can I purchase my salvation? Let us
see. Now cast in the jar a number of silver coins, and say these will
bring me the white again, but the blackness is yet there, showing
that salvation cannot be bought with silver or gold. Can education or
refinement take away sin? Let us see. Place over the top of the jar a
number of school books to represent education. Of course you see
the water is yet black, because you cannot make a black heart clean
by learning. Will music take away my black sin? Let us see. Place a
music box on top of the jar, and let the music sound forth, but you
note the heart is still black and will remain black notwithstanding the
finest music of the world. Shall I say the power of the mind can take
the blackness away? Let us see. I will say to myself "There is no
blackness in this jar. It is a mental delusion. I am mistaken. I don't
see black, and if I continue so to do long enough the black will
disappear to the eye for it was never there. It was a mental defect to
say it was there." All of this sort of thinking would never change the
contents of the jar. Can beauty take away the black? Let us see.
Cast in now a few flowers. The most beautiful things God has made.
Will the handful of beauty take the blackness away? This beauty can
never do. What will do it? What is the soul's cry? What can take
away my sins? Here produce the red bottle. "The blood of Jesus
Christ, his son, cleanseth us from all sin." Pour a few drops or more
from the red bottle into the jar. Continue to pour it in until the water is
made white again. Behold! the blackness of despair has
disappeared. The Blood has taken away the sin forever. Before you
put the drops of black into the jar, take out a small glass full of the
black water and place it down on the table and after the water has
been cleared up say "When the blood of Christ takes away our sin,
He keeps us when tempted to go black again." To illustrate that truth,
pick up the small glass of black water, and say "This represents
temptation, and it seeks to get back into the soul again and make it
black with sin as before." Pour the contents into the jar but you
notice that at once there is a power in the purified water in the jar to
resist all temptation and the black does not blacken the water again.
The effect of the illustration will be made more striking if you put two
or more lighted candles back of the jar. By rehearsal in private, work
out the necessary proportions of these chemicals so they will work
out correctly when you use them before your audience. Be very
careful and keep these chemicals away from the reach of the
children as some of them are deadly poisons.
CHAPTER XXI
THE GOSPEL COPY BOOK

Objects used: A small blackboard; a small New Testament; a number
of children to write on the blackboard
THE GOSPEL COPY BOOK
T HIS is a lesson showing how important it is to copy Christ, not

Christians. Many go astray in their life and conduct because
they do not follow the copy. There is a gospel copy book.
Christ is that book. Follow His words and your life will not be
crooked, and what you do and say will cause people who watch you
to say "He is following the copy. He has studied well his lesson in the
Gospel Copybook." Write the word "Christian" in large letters at the
top of the blackboard and ask a tall boy to copy it as exactly as
possible. After this is done, cover up the original line, and ask
another boy to copy the copy. Keep covering up all but the last line,
having various ones to copy till six or seven have been made. Now
take off the covers and compare them with the original. You will note
every copy is different from each other and all different from the
original, because each child looked at some one else's writing and
not at the original. We are apt to copy each other's mistakes and
example. This we do when we look at Christians, and try to do as
they do instead of taking Christ as our example.
One morning a business man who lived in the suburbs was
hastening to catch the train, which he supposed was almost due. It
was important that he should go to town, but, as he was walking
along in nervous haste, he saw a gentleman ahead of him, walking
with deliberation and ease. They always took the same train, so he
watched him and not his watch. But to his great dismay, he saw the
train come in and go out, and they both were left. The watch of the
man he followed was five minutes slow. He learned his lesson—
follow no man—watch the watch and the schedule, and go straight
ahead. Run yourself on railroad time. That is good business sense
for the traveler. Jesus has given us a gospel copy book. Here it is. It
is the New Testament. Follow its teachings and your life will be
straight, and you will be like Jesus. Follow Christ and not Christians."
Be not content in saying "I am as good as most Christians." You are
not asked to be as good as even the best Christians, but to be like
Jesus.
CHAPTER XXII
IN HIS KEEPING
Objects used: A nest of boxes; teaching the truth of the Divine
Security
IN HIS KEEPING
T HIS is a lesson based on the text John 10:28: "They shall never
perish." They shall never perish because they are in His
keeping. Oh how safe are those who trust Him in the hollow of
His hand, for "they shall never perish."
This is an object lesson teaching the divine "security of the
Believer." Produce a fair sized cardboard heart on which write your
name. This is the way of announcing your salvation. Religion is an
affair of the heart. It goes to the heart, changes the heart, keeps the
heart. An old whaler once said he'd been in the business for so
many years he could talk about nothing else save whales and said
"When I am dead, if you should open my heart, I think you would find
the word 'whale' in its centre." His business was an affair of his heart.
I am sure that deep in the believer's heart you would find the name
'Jesus' written, because religion is an affair of the heart to every true
believer.
To put this lesson over in a large way, secure a number of boxes
each just a little larger than the other so they will nest well. On the
first box, print a large cross as large as the side of the box will
permit. Now drop the heart into that box and close the lid tightly. The
heart is now hid in the Cross, and is safe forever. Your money you
may lose, a thief may make way with it. It may take wings and fly
away out of your sure keeping place, but when you give your heart
over to the keeping of the Cross, you are safe forevermore. The
word says "They shall never perish" because they are in His
keeping. Now take a slightly larger box marked "His care." Place the
box marked with a cross inside of this box and close the lid. Now I
am doubly safe, for I am in Christ, and also in God's care. God cares
for the sparrow, for the Word says, "Not a sparrow falleth to the
ground without your Heavenly Father." Not alone that He sees and
counts the fallen bird, but that He comes down with it. God attends
the funeral of even a fallen sparrow. If He so cares for a bird, will He
not care more for me! And He does and so I am safe in His care.
Take the next larger box and mark it "His Love," and in this box
place the one marked "His Care." Every believer tents in the love
land of the heart of God. "He so loved that we might not perish." And
so we are safe in His love. No man dare tamper with the love
marked children of His. Even Satan is afraid of that power. Put this
box into the larger box marked "His Power." Another wall has been
built around the believer. It is God's great wall of power. Now the
Love box believer is surrounded by God's power. Christ said "All
power is given unto me." And it wraps the believer up in this girdle of
strength for the Gospel in the heart is "the power of God unto
Salvation." In I Peter 1:15 we are told we are "kept by the power of
God." The hand that holds the sea in the hollow thereof holds me in
safety. His power is my fortress. I can smile at all foes. I am safe in
the hollow of His hand of power. Now place this box in the next
larger size box, have it marked 'His Promise.' He has given me His
promises "I will never leave thee nor forsake thee." (Hebrews 15:5.)
He whispered those dear words to me when he lifted me from the
cross of penitence and gave me the kiss of salvation. He is able to
keep His promises and | am trusting in His word. He has said that
"He that begun a good work in you shall perform it until that day."
The day of His coming. I will trust that promise, and tremble not, nor
fear what man can do unto me. "As the mountains are around about
Jerusalem, so is the Lord round about them that fear Him. As the
sides of this Promise box are around about me, so are the
mountains of His power. I am closed in by tons of mountains, a
congress of giants, so Salvation is God's safety box. It shuts the soul
in His Cross, His Care, His Love, His Power, His Promises. No
wonder it is written "They shall never perish." Marvel not it is written
"No man shall pluck them out of my hand." When Noah and his wife,
and his three sons, and their wives went into the Ark, God shut them
in, and they were safe. When God shuts the door He shuts the soul
in. No man can open. God holds the key. It is a secret combination
lock. God knows the combination. No man can know it. It is a secret
God will not whisper to any one in all the world. Closed in—locked in
— that is enough, my soul, to live by and keep me divinely calm,
now, and in the hour of death. "In His keeping" is Heaven's way of
writing the word salvation.
If the box method is too elaborate, to work out, you can use a nest
of envelopes. They put the lesson over just the same.
CHAPTER XXIII
A CANDLE LIGHT LESSON

Objects used: A collection of candles
A CANDLE LIGHT LESSON
T
HIS is a simple yet shining lesson, using a small collection of
ordinary candles as illustrators. Children's and older eyes are
always attracted by sparkling lights. Watching the glittering
stars is always a delight. These candles talk: They are white robed
prophets. They preach to you. Look and listen. Have the candles
mentioned in this chapter hidden from sight, with the exception of
one tall candle which you have placed in the centre of the table. This
represents The Light of the World. Have this burning when the
audience enters. It will have an attractive effect. Produce the other
candles as you introduce them. Say of this first tall candle that Jesus
said of Himself "As long as I am in the world, I am the light of the
world." (John 9:5.) This is the text which this candle is declaring by
its light —Jesus—the Light of the World. Without this light the world
would be in darkness. At this moment, cause all the lights of the
church to go out for a moment and say "If this candle should now be
extinguished there would be complete darkness in this room. Just so
would it be if the Light of the World—Jesus—should turn His face
from the world, all would be in darkness indeed." Cause the lights of
the church now to be turned on and proceed with your shining talk.
Next produce a small spirit lamp. Let this represent the Holy Spirit.
Light it from the Light of the World candle, and say "The Holy Spirit
takes the light of Jesus, and scatters it among men. He represents
Jesus. He was sent to continue Christ's work of sending forth the
light of truth." Now tell of the ascension of Jesus, and as you do,
take away the big candle and put it in another room if possible and
say "Jesus has now gone to shine in the Glory, but has left the Holy
Spirit here to continue His shining work. Now bring in twelve candles,
standing for the twelve disciples. Light each one from the spirit lamp
and say "The disciples have been sent to carry the light to the
uttermost parts of the world, go ye into all the world," etc. From a
corner of the platform produce candles standing for the races of the
world. They are now in darkness, "Go ye into all the world" and then
quote the last five words of Matthew 5:14. "The Light of the World."
Name each candle one of these words, so the candles will read "The
Light of the World." Jesus said these words about His followers, and
all the races are His followers. This illustration shows how the Holy
Spirit can cause Jesus to shine forth through the nations of the
world. If you wish to make an elaborate finish to this lesson, call up
five boys to represent the nations mentioned. Let them carry a flag of
each nation or marked in such a way that they may be known as a
representative of the nation whose name they bear, and let them go
to different parts of the church bearing these candles. One may go to
the gallery and call that spot Africa; another to the rear, and call that
locality India, etc. And when they have been distributed, turn off all
the lights for a moment and say "The Holy Spirit is world wide in His
mission. The light is just beginning to shine. Pray that the Holy Spirit
may continue in the work of light-sending and He will do so if we do
our part, and we will." Let the lights be now turned on, and the
people sing as a closing hymn "The Morning Light is Breaking."
CHAPTER XXIV
THOSE TEN FRIENDS OF MINE

Objects: Using the Human Hand
THOSE TEN LITTLE FRIENDS OF YOURS
N O one can truthfully say "I have no friends." If you do say

those words, you are mistaken, because I know your friends
so well, I can shut my eyes and count ten of them without
stopping, because all boys and girls have ten good and helpful
friends. These ten friends are never failing friends. They say to you
"I'll stand by you, and perhaps I can make you rich and great some
day." We must all depend on these ten friends, and they will never
fail us. Now hold up both hands, open wide the fingers and say
"These are your ten friends. They are your ten friends, and they are
your ten best friends. They are ten obedient friends. They always do
just what you tell them to do. They are never disobedient. They
never refuse to work for you. They never go on a strike." A little boy
selling newspapers on the streets of London, overheard a kind lady
make the remark, as she looked at him, "Poor boy! how sad and
lonely that poor little boy looks." He replied to the remark, by saying
"I am not a bit lonely, good lady, because I always have lots of
company, as I have these ten friends of mine ever with me." And as
he spoke, he held up both his little hands. He was right. He was not
lonely, because he had his ten faithful friends ever with him. Having
these little working friends we should always work with them. Many a
little boy has worked himself up the ladder of success by the aid of
these ten friends. Give them something useful to do every day. They
will do it for you and some day your friends may make the world
watch you and your company of ten, doing things. The Bible says
that "Whatsoever thy hand findeth to do, do it with thy might." That is
what the Bible says about your ten friends. When our ten friends all
cuddle up together, as if hugging each other, then we have a strong
weapon to defend us, then we can strike with the strength of the
arm. These ten friends helped the boy David, as they clinched the
cords of the sling, and brought the giant down. They go to war for us,
and every last one of them fights bravely. An old college chum of
mine was helped through school by these ten friends who worked
hard for him. These friends paid his way through school, for he
worked his way through by the labor of his hand. Sometimes the
errand boy of the store has been helped so well by these ten friends
that they helped him to a place in the firm, and he became part
owner of the store. Sometimes these ten friends are bad little friends,
they strike little sister, they steal things from shops, sometimes they
lift strong drink to our lips and do lots of evil things but we must
always remember they are only doing what we tell them to do. We
are responsible for all the evil they do, for they only do as they are
told. We should train them only to do well, and then they will only do
well. There was a little boy in the great city of Philadelphia, that
never knew the name of his father and mother, who was one day left
on the doorstep of a stranger. The good lady who lived in the house,
had pity upon the little stranger and took him in. They called him
"George Washington," for they found him on Washington's birthday,
and they called him "Child" for his last name. So his full name the
good lady gave him was "George Washington Child." He and his ten
friends sold papers on the streets of Philadelphia. His ten friends
worked so hard and well that afterward he became the owner of the
great Public Ledger of Philadelphia. Thus we see how much a poor
boy and his ten friends can do when they all work together and for
each other. These ten friends can work for God also. They can give
a cup of cold water to the thirsty, and Jesus says it is giving unto
Him. These ten friends can lead other little boys and girls to the
church where they can hear about Jesus and be saved. Hold up the
left hand and give the fingers a letter. Call the little finger "W," the
next "O," and the next "R," and the following fingers "K" and
"S"—"WORKS" is the name of the left hand. Now hold up the right
hand and spell out the word "F.A.I.T.H." "FAITH" is the name of the
right hand fingers, so working with both hands, these five friends
called "WORKS" and these five called "FAITH" we can do wonders.
Faith and Works can conquer the world. So our ten friends are an
army of conquerors.
CHAPTER XXV
HEAVENLY MAIL FOR THE DISCIPLES

Objects: 12 Prepared Envelopes
HEAVENLY MAIL FOR THE DISCIPLES
T HIS is a fine test for the memory which can be used for older
children and adults. It will require some study before it can be
used effectively.
Secure twelve large envelopes and enclose in each a beautiful
scripture and floral card. Say you are about to distribute in the mail
twelve letters for the Disciples. You will not call out the names. Now,
ask twelve children, or adults, to come forward and say I have here
twelve letters for the Disciples. I will not read their names, but will
describe them. If you recognize them by the description I give, you
are to speak the name and I will give you the letter to be delivered to
them. If you cannot find the disciple whose name you pronounced,
then you are to keep the letter and its contents as yours. Ask the first
one in the row the first question: if he fails to answer, ask him to take
his seat. If he answers it let him stand there in his place, but don't
ask him again unless all the others have failed. The question about
the second letter to the second individual, and so on, for the letters.
Holding up the first letter you say "I have here a letter for one of the
Disciples (on the envelope you have the description of the Disciple
written) who was believed to be the oldest of them all. He once tried
to walk on the water, wrote two epistles which bear his name, dined
his Lord three times. What was his name? (Peter.)
After this question is disposed of, ask the next question. "I now
hold in my hand a letter for the Disciple who first brought another to
Jesus" (Andrew.) "I hold in my hand a letter for the Disciple who was
called the "Son of Thunder" the first martyr—who was he? (James.)
"I have a letter for the Disciple who took Mary away from the crowd
on Calvary, to his own home. Wrote five books of the New Testament
and was especially dear to Jesus. Who was he? (John.) "I have a
letter for the Disciple who brought the second Disciple to Jesus, Can
you name him?" (Philip.) "I hold in my hand a letter for the Disciple
who was an Israelite indeed and was also called Bartholomew. What
was his other name?" (Nathaniel.) "I have a letter for one who was a
doubter. What was his name?" (Thomas.) "I have one for the
Disciple who was a collector of taxes and wrote one of the Gospels.
Can you name him?" (Matthew.) "I hold in my hand a letter for a
Disciple who was perhaps the brother of Matthew, and the son of
Alphaeus. Can you speak his name?" (James, the son of Alphaeus.)
"I have a letter for the Disciple who had three names whose father's
name was James. What were his names?" (Judas Thaddeus
Lebbaeus.) "I have one for a Disciple who belongs to the zealots.
What was his name?" (Simon of Cana.) "I have a letter for the
Disciple who committed suicide and betrayed his Lord. Who was
he?" (Judas.)
This is a good scripture exercise and can be used in the number
of ways. If you so desire you may fasten their envelopes on some
background in full view of the audience and ask the questions a
week ahead of time, so they might have time to look up the
questions and come prepared to answer them. It is a good drill for
children which will enable them to learn the names of the Disciples
and something about each of them. Study it out well, and then try it
out.
CHAPTER XXVI
THERE'S A MESSAGE IN THE CANDLE

Objects used: A Large Candle, standing for the story of Joseph and
His Brethren
THERES A MESSAGE IN THE CANDLE
O NE day a candle spoke out from a shelf in a minister's study

and said "I see you watching me and with your eyes you
seem to say—what shall I say next to the Juniors. Listen to
me and I will answer your question." And the Candle said "Well now,
Mr. Preacher-man, I will take your place next Sunday and preach for
you. I have a message hidden away for your people." Then I though
as I watched the candle that a hidden hand, holding a lighted taper
thrust itself out from the mystic land, and glowed and throbbed as a
little star of light which crowned its upright form. Then said I "Now,
Mr. Candle, what will you tell the people?" and it said "Hold me
above your head and thus exalt me, or debase me by putting me on
the floor, I will still keep on shining. In whatsoever state I am, I shine
just the same. Men may honor me by placing me on the King's table
before the lords and ladies, or place me in a humble cottage window,
to help the pilgrim of the night to see his way onward, I will still shine.
I was made to shine. It is God's will that I shine—just shine." Learn,
ye people, the lesson. It is a message from the candle. This is true
goodness. This is pure Christianity. This is Jesus' way—no matter
where—just shine." "That is beautiful, good prophet," said I, as I
drew out a golden dart from my own heart. "That arrow of light
pierced me." "But," said the candle, "Do you know my true name?
Well, I will tell you. My name is Joseph. I was shining long ago when
the race was just tumbling over the side of the cradle of infancy. I
was there and did what I ask you to do. When I was in Father
Jacob's home, or in the field tending sheep, or carrying messages to
my brother shepherds, or when I was hated by my home folks, or
cast into the pit with creeping things and devouring mouths, or sold
into Egypt as a slave, or robed in grandeur as a mighty ruler with
Pharaoh, or when I was covered with the poisonous lies, or cast
down into prison, or when I stood before Pharaoh, and made clear
his dreams, or when I was exalted to Pharaoh's side, and lived in
untold glory, or when I met my brethren who sold me into slavery,
and with whom I could even up the old score and sore, or when I
stood face to face with my dear old father in Egypt land, and found
myself and the boys and home folks all united under the royal
canopy of Pharaoh's care, I just kept on shining all the time. Up or
down, in or out, over or under—just shining all the time. Go thou and
do likewise." Then I saw the mystic hand come out from dreamland,
and remove the white robed priest, and I heard him exclaim as he
was removed out of sight—"Here endeth the sermon of the white
candle." When at last my thought spoke out, I said, "God was with
the white minister and his message was like an echo of the sermon
on the mount." To visualize the lesson, place a plain candle on the
table, and be seated a little distance from it. Secure a good reader,
who will not be in sight, to speak the part the candle says, and you in
turn make the answer. Make it a dialogue with the object.
CHAPTER XXVII
THE LONG AND SHORT OF IT

Objects used: A Tall Candle and a Stub of a Candle
THE LONG AND SHORT O' LIFE
T
HIS is a lesson which illustrates how important it is to give God
our whole life. Samuel did this. He did not wait until his life was
almost burned out, and then give to God the stump which was
left, but gave God the whole life, from early childhood to ripe old age.
Secure one full length candle, and also one almost burned out. If
both are lit at the same time, the short one quickly burns away while
the tall one burns for a long time. "The tall candle stands for youth,
and where youth is given over to God, it sheds light for many happy
days. We should all offer our whole life to God and not wait till it is
almost gone and then offer a few short feeble days to Him. Don't wait
until life is almost burned out and only a little stub left like this to offer
God." As you say these words, hold up the little stump of candle.
"Here is a candle almost burnt out. It will not give light much longer."
In the old fashioned days when candle light was used it would be
cast aside as good for nothing, and yet the little stump can do a little
good for Jesus. Come to Him before it is burnt out altogether. Come
now, tomorrow darkness may come and the little candle be entirely
consumed.
One evening some years ago, when I was preaching in my
Philadelphia church, a sermon called "A Sermon of a Hundred
Candles" I lifted up a little stub of a candle almost burned out, and
said "This resembles the sinner almost burned out, only a few
minutes more and it will be gone. Turn to God quickly before time will
snuff out your flickering taper." In that audience that night sat a man
well known in river circles. He was known as Capt. Evans, a man
that knew the Delaware River like a book. Many efforts had been
made to bring him to Jesus, but everything up to this point had failed.
He said "That little stub of a candle got me." And it brought him to
Jesus, and for the rest of his days was a shining light for the Master.
Oh, ye little stubs. Turn to Jesus and shine. You cannot go back to
the happy days of youth to begin over again but begin to shine now
for Jesus. Hearken, ye youth, boys and girls, of the order of the long
candle. Come now to Jesus and shine from the days of your youth
until God bids you come up higher and shine for Him in the White
City of God.
To elaborate this lesson let a number of boys and girls come to
the platform, each bringing an unlit candle which they light from the
tall candle on the table called "The Light of the World." And then let
them place them back on the table until they are all lit. Don't let them
hold them in their hands in a lighted condition as there is danger in
this. Ask them to stand around the table while the lights are burning
and sing "Jesus bids us shine."
CHAPTER XXVIII
PULLING OUT THE NAIL HOLES

Objects: A Small Size Post or Board. Hammer and Nails
PULLING OUT THE NAIL HOLES
H ERE is a story so old that it is new. That is, it is new to this

generation. It is about a post that may be a pulpit or a lesson
desk, and from it they may hear a loud message proclaimed.
This is the story.— Many years ago when Grandpa was young, just
like you, his mother told him a story about a boy that did wrong
things, told falsehoods, and used bad words. His mother, in order to
cause him to see how ugly sin was, and what a bad scar it left in the
heart, drove a nail into a post for every evil word he spoke. By and
by there were a large number of nails in the post and it looked very
ugly and he felt just a little ashamed of his deeds being shown up
this way. So he went to his mother and said he was very sorry, and
promised he would try not to say bad words any more if she would
pull all the nails out. This she agreed to do on the following terms:
For every good word or deed, he would say or do, she would pull out
one nail. After trying real hard he saw the nails come out one by one,
at last they were all out, but he noticed the holes left by the nails,
and wanted his mother to pull them out also, which, of course she
could not do. This taught the boy a lesson, that even good deeds
could not erase the scars evil deeds left behind them. His father
said, however, if he continued to be good, he would fill all the holes
up with a paint filler, and recoat the post with fresh paint, and it would
like quite like new, and right again. After his father had given the post
a number of coats of fresh paint, the scars all disappeared, and the
little boy never forgot the lesson when he looked at the bright, fresh
post.

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2. A poison pill is also known as a corporate restructuring.

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