Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-10-27
PortIa d Merchants Asitated Over Tradi'g
Stamps.

Uewiston Journal of Oct. 25.)
Portland. Me-. Oct. Z.-(Special)-A
rather queer condition It IL that brought
together in Reception hall. Monday after
noon, a LARGE assembage Of Portland and
Deering merchants. They all came to air
grievance relating to the Grading
stamp fad which struck this Vicinity so
hard short time ago, and which threat
ems to raise havoc with the Incomes OF
some of the traders.
The story of the trading stamp craze IS
this: In the early summer the local mer-
chants were canvassed in behalf of con-
Germ that was about to open a general
supply depot here and to give away their
merchandise in exchange for coupons
which bore the name of trading stamps.
These stamps, it is said, the company Of
fered to sell to the merchants in sheets
of 100 for 80 cents n sheet. The manager
OF the company, however. denies that ne
ever offered to sell them so cheap as that.
1t was explained that If the merchants
gave these stamps to cash customers. at
the rate of one stamp for every ten cents
worth of goods sold. there would be
stampede of trade to their stores by peo-
pie who had been accustomed to trade
elsewhere. 1t would not only build up
trade for the company's patrons, but
would have tendency to promote cash
purchases.
The scheme was readily taken hold of
and a long list of patrons added to the
conpany's books. The glitter of free for
trading stamps merchandise displayed in
the show windows of the supply store on
Middle street caught the eyes of passers
and the stamp collecting business started
In with vim. To protect themselves
from losing customers the merchants
who were not in the trading stamp deal
started rival scheme which also took
readily with the people who are ever on
the watch for chance to get something
for nothing.
Some of the merchants soon awoke to a
realization that their stamp bill was cut
ting big hole in their profits. and that
the output was not offset by the expected
increase in patronage. Then the kick be-
gan.
The grocers started it. Competition in
groceries is closer than in any other de-
partments of trade. and the profits are
CORRESPONDENCE small. Other merchants
Joined the grocers in their protestations
In many instances. customers. who settle
their bills once a week or less often. in
sisted on receiving stamps on their pur-
chases. in the same proportion as do the
strictly cash customers. They pleaded
with the trading stamp company for the
privilege of giving up their contracts. but
theirt pleading was in vain.
An appeal was made to the city govern
nent. under the claim that the petitioners
desired to protect the interests of icitizens
of Portland. but the city fathers sat back
and laughed at the appeal. some of them
remarking that the merchants went into
the scheme expecting to trim one an
other. and nobody but themselves was to
be blamed. A. aan "a
The next move was the caIlinsl1 of a
mass meeting of merchants, which assem-
b!agei was scheduled for Monday after
noon. The company controlling the stamp
scheme retained Messrs. Seders & Chase
as counsel and was lin readiness to hold
its own at the meeting.
For full hour about 40 merchants have
been informally talking over the matter
in the corridors. but at o'clock they
We're still hunting for a chairman.
They wanted Lewis A Goudy to pre-
side. but he declined. saying that he had
no grievance, his contract with the Trad
ing Stamp Co. having already been nulli-
fed.
The remonstrants are in rather a de-
moralized state. One lawyer, with whom
the leaders consulted told them to go
ahead and hold a meeting. Another en-
inent attorney advised them to go slowly
The managers of the Trading Stamp Co.
are on hand with counsel to fight any at
tempt to break the contract.
They say this meeting will only tend to
advertise their plan and increase the gen.
eral call for trading stamps.
AT $50 the meeting adjourned, amid
confusion, without any business having
been transacted.