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This article presents the results of an April 1986 mail survey of small business firms in Cuyahoga County, Ohio, concerning the relationship with their commercial bank lending officer. The survey examined loan types and rates, types of collateral,and bank and officer characteristics. Results indicate that 1) secured lines of credit were the most common loan type, 2) the reputation of the bank was the most important characteristic, 3) personal guarantees were the most common collateral type, and forty small businesses rely heavily upon the expertise and support of their commercial lending officers the businesses would seldom change banks for a half percent rate advantage.

The role of art in a portfolio of investments is examined using Sotheby's art index as & proxy for returns on art investments. Historical data for portfolios of artwork and other financial securities over the period 1981 to 1990 are used to construct the optimal mean‐variance portfolio. The art investment receives over 36% of this portfolio. This large percentage can be traced in part to the low correlation of art returns to the returns of other financial securities. Clearly investments in art deserve the serious consideration of mean‐variance investors

SO much controversy has raged around the subject of newsrooms in the past two years, that librarians are, as a rule, utterly tired of it, and the appearance of still another article upon the subject is not calculated to tone down the general spirit of vexation. It requires no little courage to appear in the arena in this year of Grace, openly championing those departments of our institutions which were originally intended to convey the news of the day in the broadest manner.

LIBRARIES NEED NO APOLOGY. They do not need to be justified by platitudes about the heritage which books convey from one generation to the next. They prove their value by daily service in education, in research, and—most important of all in the Federation of Rhodesia and Nyasaland—in the spread of literacy. Of the three curses of Africa—ignorance, poverty and disease—one may argue that the greatest is ignorance, because the absence of knowledge prevents the elimination of the other two. The school can teach the elements of reading, can bestow on the pupil the basic tool of learning, but unless he has access to a suitable store of books on which to exercise this skill, it will steadily decay. The patient work of the teacher will have been wasted. This truth is gaining increasing recognition in Rhodesia and Nyasaland. Since the Second World War, urban and rural library services have grown up in all three territories of the Federation to supply reading material to the African population. In Nyasaland the British Council, in Northern Rhodesia the newly created Northern Rhodesia Library Service, in Southern Rhodesia the African Literature Bureau, have spread their activities far into the bush. Government, municipalities and mining companies have also attempted to satisfy the tremendous thirst for learning which exists among those Africans who work in the towns. No one would pretend that these library services are perfect. They have great difficulties of cost, distance and poor communications to overcome, difficulties which are scarcely conceivable by the librarian working in Europe. But there is a strong conviction of the need to bring the benefits of books to an ever larger proportion of the people.

THE importance of the book as an educational agency has so long been recognized, that it will be unnecessary for me to dwell upon that side of the question. Yet it is impossible to ignore it altogether, for it is in the educational power of the book that we find the main reason for the existence of the school library. The elementary schools carry education up to a certain point, and the technical schools and universities take it up and carry it still further, but it is the library—or at any rate the book—which co‐ordinates the whole ; many people, indeed, have no education beyond the elementary school, except what they obtain from books. From this, the part played by the school library becomes obvious. Not only is it a powerful educator in itself, but it prepares the individual for the use of the Public Library and of books in general in the period following school life. Also, I need hardly point out that, although the use of the text‐book is dis pensed with as far as possible, the whole modern system of teaching is founded on the use of books.

AT this time of the year librarians take their holidays. They will need the break this year as much as in any year since the end of the war. There are many problems to be faced in the autumn and winter, among them the continuous rising prices of everything, and the diversion of public funds to rearmament, which must have some repercussions upon the library service. Whether it is yet a fact that the pound is worth little more than five shillings in real money, we are not prepared to say, but it is certain that every cost has increased, and is continuing to increase. Especially is this so in connection with book production and bookselling; even, as our correspondent on another page suggests, in some cases the royalties of authors are in jeopardy. How far this will go it is impossible to say. At the same time the rates everywhere promise to increase still further, and in spite of the advances, it is unlikely that libraries will be exempt from the stringencies of the time. Such predictions have, however, been frequently contradicted by our past experience. Some of the real advances libraries have made have seemed to be the direct result of bad times. This is hardly a holiday meditation, but we think our readers will need all the physical and mental refreshment they can get before they face the possibilities that may follow.

I'VE said it before, and I'll say it again: Eastbourne is an excellent place for a conference, and I set out for it after five years' absence with the hope that its handsome and genial presence would produce something better than the mixture of ordinary, obvious and sometimes inaudible papers that have been a constituent of more than one intervening conference. That towns can affect such occasions is no doubt a farfetched conceit, but they certainly affect me; as soon as I arrived the environmental magic worked, and old friends and new faces were seen in the golden light of perfect autumn weather.

THE provisional programme of this year's L.A. Conference at Southport on September 20–23 is now in our hands. The theme, the library and the community, is the perennial one for our conferences and, in that, is blameless ; everything will depend on the handling of the subjects. No one who considers what is promised can accuse the Council of the L.A. of a partial view of the field, because whole areas are given representation in general sessions and if, as we expect from such writers as Messrs. R. O. MacKenna, W. S. Haigh, D. J. Foskett and F. C. Francis, the papers have the requisite range, the Proceedings will prove to be a comprehensive Statement of library practice today. All are well‐tried speakers and amongst them we anticipate, for example, a model paper from Mr. Haigh, who was frank in his view of the endurance required of the listeners at Hastings. The gifted Editor of The Assistant Librarian, Mr. A. C. Jones, who, unfortunately for us all, is relinquishing that office, is to occupy the A.A.L. with the assistant librarian in the community, and county libraries are to be represented by papers by Mr. B. Oliph Smith and Mr. H. Thompson at their own Section meetings. University libraries again come into the picture at theirs with a discussion opened by Dr. L. W. Sharp. Mystery is suggested by Mr. B. C. Vickery's “Tower of Babel: the language barrier in science” which seems to indicate some form of Interglossa or, possibly, since he is an enthusiast for Dr. Ranganathan, that teacher's Meta‐language. It certainly would be an achievement if whenever a scientist used a word it could be made to convey the same thing in every reader's mind. The Youth Section will listen to that practical teacher and thinker, Mr. J. F. Wolfenden; and the Annual Lecturer on Wednesday, September 21, will be by Mr. J. L. Longland, the chief education officer of Derbyshire, whose co‐operative sympathy and support was no doubt of great service to Mr. Edgar Osborne in the organizing of the most fully co‐ordinate county service in this country. Five British “internes” will render account of their experiences in America, under the chairmanship of Mr. J. C. Harrison, we hope to the encouragement of others of us “to go and do likewise.” Nothing better for the creation of fresh enthusiasms and for a high international level of library practice in all its variants can be imagined than this prolonged employment in the libraries of other countries ; every librarian should encourage it to the limit of his means and feel, as we do, gratitude to Messrs. Sydney and Harrison for acting as the selection committee so far as British candidate “internes” are concerned.

THE proposition that British library schools should examine their own students is not a new one. As long ago as 1954, Roy Stokes put the question bluntly to the profession. In those days his was a voice crying in the wilderness. The profession at large was not ready for such a development, and continued to adhere to its long held view that the Library Association should examine the products of the schools, while the schools confined themselves to teaching.