The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1892-03-26

reflects upon Sacramento. Oh, no; bust
ness changes III my establishment the
! public can know all about. In fact, L
intended, in day OF two, to put tinto my
advertising space.
Q.-N ell, then, are you going out of
business?
A.-Well, yes and no; 1 am and / am
not.
Q.-How is that?
A.-Ihis way: i am going to close
down in some lines and contnuein others
that IS, II the plan for disposal OF lines /
want to close out comes out all right.
Q.-Do you mean that you may, or may
not, retire?
Al am positively going out of many
lines. but / cannot know all that l will
drop until aboat July LIST. l shall GER
taIHly drop clothing, boots and shoes,
hats and caps and furnishing goods,
and part OF dry goods and fancy goods
lines.
Q.-You propose, then, to sell out Of
these certain lines OF goods wholly?
Ayes. The only way to do so is to
dispose of them at cut rates, and to buy
no more in those lines. Ia this case [
shall buy no more in the classes | shall
abandon, though | had ordered in nay
| spring stock before l resolved upon this
movement
Q.-Then the new lots go with those on
| hand?
Ayes in the lines give up. 1 may,
OF course, to keep my customers sup
! piled, have to buy to some extent, say
from 10 to 10 per cent. of my sales, but
not largely, for my plan is to wholly give
up sales Of certain lines of goods.
/ Q.-Well, how about the disposal of
certain lines of your stock?
A.-That viii be announced, and the
public Will then see on what goods the
change will affect. Millinery and all
that goes with it will be retained, kept
up-that is, L Will carry that line; you
understand.
ton ON millinery prices now?
| A.-No. That line during the closing
out will have TO suffer some with the rest
/ Understand, the sale will be general but
the cut will be heaviest in lines / shall
not keep up.
Ayes. The staple lines will not be
exempt from the change.
Q.-N hat, MIR. Gilman, are the reasons
for this change, and which, you say, may
mean closing out?
A.-Well, not embarrassment / assure
you. The chief reason is that cannot
| make profit that repays for the effort
and investment. Most all goods in Sac
ramento are retalled now so close to the
| wholesale price thai when the expenses
! incident to, and a part of the business are
met, there is left no profit; none, at least,
|
Red House consist mostly of staples, on
which the profits are light, very light
Q.-Has trade declined?
a. Some, and competition has become
sharper. do not complain Of the trade
in Sacramento that | have had. AS a
rule it has been large from the first day l
| started. But the expense that has kept
along with it has rather increased. and as
the margin Of profit is now so narrow, as
| | explained, that to lower one and widen
the other can't be done. For an estimate;
lets see; [ have paid out since l started
in business in February, 1874, / should
say, over half million of dollars.
| Printers, advertising, landlords, en-
ployeS, taXeS-these swallow up large
sums in such business. So now / pro-
pose to close down in certain lines, lessen
expenses. and sell the goods 1 have, and
| most of them are new. Possibly | NAV
go into other business.
Q.-When did you come to this conclu-
sion? n
4 Al did not contemplate it until our
spring inventory was completed, on the
18th inst Then my spring stock had
been purchased, however, and some of it
had arrived. But the new goods will
make the sale only the more important
Why, you must understand that my new
catalogue, just issued, was an expense of
about 5000, including its distribution.
In most Of the lines | have advertised in
iIldt Sudll DC dDI0 TO III most
orders up to July lst. After that | shall
announce the exact status of the new
conduct OF the business, if continued /
don't intend to throw nay goods away
people don't expect them to be given
away because there is d reorganization of
u business.
Q.-0f course not. understand Won
the lines you dispose of for good are to 60
at a cut; those you keep up will suffer
| some.
A.-There you have it.
Q.-Can you speak more fully of your
future Intentions?
A.-Not now. ! viii first find out how
well the people treat me, in helping me
dispose OF my goods. expect The loss.
and 1t will be heavy; but do not ex-
pect 1t 10 exceed SO, 900 or $50. 900 in the
aggregate. | have stated that as a mere
estimate, OF course. do not intend it to
| be heavier than the smaller sum named
for the goods are worth full cost and a
fair profit added, so that when | cut the
prices it Will mean a decided bargain for
the buyer and q loss to ME, but then it
will release me from lines on which the
profit is insufficient for me.
els there any other reason MOVING
| you but desire to narrow the liability in
such business OF small marginal profit?
a. - Is, there Is; purely personal
Had my son lived | would not have these
plans. would have shaped the business
lOE HlIl W COIu0 liIlO 1t, ne was BECOMING
helpful and things would have been dif
ferent with me. When one has no mart
ner, runs a large business and has ONLY
employees, he cannot easily make the
weight he carries lighter. He has to reIy
too muchsupon his help.
Q.-When did you begin this business
Al established the Red House on
February Z, 1874.
Q.-Ies; j remember it; and yoI, made
the one-price break | recall, didn't Won?
A.-That's true. The Red House was
the first to establish the system of one
price and of marking all goods in plain
| figures. 1t has since been adopted by
and is now the system of all intelligent
merchants. 1t has become. as | saw it
would, the best protection to the BUYER
and an immense saver of time and annov-
ance to the seller. In the hands of mer
chants with good intentions-some use it
only to deceive-it is most useful sys-
| tenn.
Q.-Excuse me; to return to your sell
ing out, what is TO be the cut, and as
sumo your stock to be worth about $780,
| coo?
Ayes, and that is the largest stock
i ever offered for sale in Sacramento. I
cannot say what will be the per cent. of
cut all around; that can't be DONE By
April lst we will have the goods marked
down and assorted, then the sale will be-
| gin. Whatever the price marked that