The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1892-03-28

sums in such business. So now l pro-
pose to close down in certain lines, lessen
! expenses, and sell the goods have, and
most of them are new. Possibly | may
| go into other business.
| Q.-When did you come to this conclu-
sion?
! Al did not contemplate it until our
spring inventory was completed, on the
/ 18th inst. Then my spring stock mad
| been purchased, however, and some OF II
: had arrived. But the new goods VIII
make the sale only the more important
/ Why, you must understand that my new
catalogue, just issued, was an expense OF
about $4,000, including its distribution.
In most of the lines L have advertised IN
that catalogue l shall be able TO till most
orders up to July Ist. After that | shall
announce the exact status of the new
conduct of the business, if continued. L
don't intend to throw my goods away
people don't expect them to be given
away because there is a reorganization OF
| business.
OF course not. / understand you
the lines you dispose of for good are to go
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. ! will first find out how
well the people treat me, i'll helping me
dispose of my goods. | expect the loss,
and it will be heavy; but L do not ex-
pect it to exceed 900 or S25, 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 tho goods are worth full cost and a
tair profit added, so that when I cut the
prices it will mean q decided bargain for
the buyer and a loss to me, but then it
Will release me from lines on which the
profit is insufficient for Inc.
/ Q.-Is there any other reason moving
you but desire to narrow the liability in
such g business Of small marginal profit?
a: = Yes, there IS; purely personal.
Had my son lived would not have these
plans. l would have shaped the business
| Tor him to come into it; he was becoming
helpful, and things would have been diff
ferent with me. When one has no part
ner, runs large business and has only
employees, he cannot easily mako the
! weight he carries lighter. lie has to rely
too much upon his help.
Q.-When did you begin this business?
Al established the Red House on
February Z, 1874.
Q.-Yes, I remember it; and you made
the one-price break | recall, didn't you?
A.-Thats 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 an
noyance to the seller. In the hands OF
merchants with good intentions-some
use it only to deceive-it is a most useful
system.
Q.-Excuse me; to return to your sell
| ing out, what is to be the cut, and 1 as
sumo your stock to be worth about $780,,
900?
A.-Yes, and that is the largest stock
ever offered for sale in Sacramento. |
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
Will be the figure and it will be just as
low as Is possible within reason. Then,
whenever customer buys 81 worth OF
goods 80 cents in all cases viii be ac-
cepted in full payment. Thus, while the
cut will be heavy on some things and
light on others lwhere the margin is ex-
ceedingly narrow every buyer Will save,
anyhow, ten cents on every dollar, in adj
dition.
Q.-Now, | have got it all and propose
to print it, you understand?
A.-Go on, | intend to advertise it soon.
Q.-Has not your house made it pretty
lively for others iii the same business?
A.-Well, l should judge so. l have
always carried big stock, and our sales
have been as high as a quarter Of mil
lion dollars some years. This must have
had some effect in keeping prices down
to q fair standard.
Q.-What would be the effect upon the
retail trade here il you should go out of
business?
A.-WeI, the closing out Of house
such as ours would naturally result in
enhancement of values, and would have
tendency to throw the bulk of the bust
ness into the hands of few merchants.