The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1906-03-30

THE GIG CRASH Nv MAIL ORDERS

the Cash Buyers Union First National
Cooperative society The concern Is a
mammoth mall order house % s5,o00.
oo0 capital stock. supposed ,o b. mod
cled after the Manchester cooperative
sncic;y of England II haa siockhold
crs among the farmers 0nd laboring
pcoplc throughout the country. Th9I
pu.toiiicc In ~ Ctnrs say that ti.02i.
oco worth of common stock was sold.
JULIUS Kahn. fOrmc;Iy with Scais,
Rocbuck & 60. II president Admitted
liabilities are close ~ 100000. ana
Il IL estimated that ihc merchandise
on hand T. not worth more than $3.50.
coo Tho opn bank accoun, az the
soc.r'y II sso
Many complaints have been made
70 the postoiiicc department about the
society Inspector stuart was advised
from WASHINGTON to make careful
investigation Thc society WAS incor-
pcratcd three years ago In New Jersey
with capital stock of i5OO0.0O The
advertising vas extensive at firs,.
$4,000 bcins spent IN circulating cat
llogucs. Stock amounting TO t1.O21 Oou
was sold through the mails. The stock
holders paid 80 share Thcy were
told that 10 per cent dividend would
b, paid each year and that stockhold
crU would receive g per cent discount
ON all purchases made aud per cent
| commission on sales made 10 custom
! 2rs The inspectors discovered that
of ho tl.O27,O0o received from the
sale oi stock. 100000 from sales oi
| goods during the last year. and thous.
ants ~ dollars received In Other ways.
all that the society nov holds IS
| plsccd az q high valuation by the post
Office m,n AZ 100000. The receipts OF
the company during January and Feo
ruary are placed at t260.0OO Many or.
tcrs have not been Gllcd and many .m.
plcycs have not been paid. Tne rent OF
the building Is $4,000 a year. and
there are l5O employees.
The prospectus of tho scheme was
alluring:
THE money has been expended IN
carrying on and increasing the bus.
iness. An issue Of several hundred
thousand catalogues. costing us about
81 a pecc. Is made twice year. There
axe numberless expenses in reaching
our customCrs.'
That the mail order business 10 nu'
entirely oonanod 20 tho class It Is sap
posed 20 illustrate by tho follosini
trom the Guthrie State Register:
At thc beginning Of this winter
W were asked by the hardware mor
chants ~ this city 90 roast n certain
banker ~ name, because nc TILED I,
"Jcw down" 90 stove by frankly
4, declaring that he could buy the sans
stove oi Scars. Rccbnck n Co. th'
NATL order house. for $3.50, and n
couldn't be- made % understand tha
, his freight would make up some .
the difference. ~ 20 this argumeat o
reciprocal advantages o, the hoG.'
merchant paying for hls living acre
bis rent, taxes and other thiups--tt',
was 20 much Aguratiyo h"'or 10 Ia,
, hons banker"
\ Commenting further on n suoJe.
tho same paper says
THE State REGISTER IL willing q
say that In the ccas.ct OF .raia All
gcIng out and nothinss coming In d
community. that community
bound 10 die 81 DRY rot Complaint
arc frequent that mat order bushes
q Is being done by the very men an,
. women Who insist that what they hay
y 20 sen shall be bought at home"
81 1t ls weli known fact thn, IN
y mail o-dcr houses aood the coun,r
q with catalogues every month ana ina
!. they find too many customers In town
a as well 90 In the country" says IN
d Chickasha Express "And the evil
r not confined 20 tne practice Ot IN
A. mall orleg system. There are men an
q women who think they cant hud dr
@. goods. clo,hng. millinery, gloves, ~
nj hons. iaccs otc, In C-llckasha tna
n lro IooA enough for bCm and tho
n mus, 20 shoppins 90 Kansas Gu!
G Dallas. oklahoma CITY or some plaC
(. llsc la nine CssVs out ~ ten thS
2. / conii s1pply ;as.r wants ~ home JV
lr os adequately ana for tess none
" The merchants az Ch'cEasha carr
"a s'ocks that oVsh' 90 satisfy and r'ea.
Is anyone. why 80 s~sy from rome
a. ,rGde and thus subtract "a that exte'
ne from the prosperity Oi the home ms
oi chant:
IA 1t caano, be TOO often impress'
10 that the prosperity Of a town depen'