"One historian has described Prentis as possessing 'a most astute financial brain.' This assessment is evident when the reports of the annual meetings of the stockholders, an innovation in colonial bookkeeping and the only surviving records of the store, are examined. The annual reports consisted of two documents. One was a written statement listing the terms under which the store was administered and the value of the total stock, the names and shares of the stockholders, and the commission or salary of the manager.
"The second part of the report was a simple balance sheet. It listed on the left side all the obligations of the firm, such as creditors, salary or commissions due the manager, the total dividend declared and payable to the stockholders, and the sum required to balance the statement. On the opposite side the assets of the company were listed, including storehouses and lots and other real estate, cash on hand, the inventory of the store and receivables. As a result of Prentis's business skills, the stockholders' equity grew from £6000 in 1743 to £17,391 in 1765, and trade receivables grew from £3,210 in 1733 to £11,241 in 1765.
"William Prentis died in 1765, and his eldest son John succeeded him as manager. There can be no doubt that William Prentis was a most respected citizen of Williamsburg, and the early training he received at Christ's Hospital served him well as a successful business manager. Indeed, you can still do your shopping at William Prentis & Co. on the Duke of Gloucester Street in Williamsburg and see his reconstructed home (a private residence) at the corner of Duke of Gloucester and Botetourt streets." (1)
(1) Harold B. Gill, "Apprentices from Christ's Hospital Make Good in America," Colonial Williamsburg: The Journal of the Colonial Williamsburg Foundation, (Autumn 1998): 15-18.