Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1908-09-10
S. RS BUSINESS DE-
cREAsEs $4,000, 900
As Reported byl Wall Street
Journal They Expect it to De-
crease More The Coming Year.


Merchants TRADE Journal.
Euring the fore part, In fact, during
January and February Of this year,
numerous reports seemed to be in cir
culation tending to show that Sears,
Roebuck & Co., since their indict-
ment In the United States court, as a
result of The Journals investigation,
were very near q financial crisis. In
fact, it came TO The Journal several
times that there was very great dan
ger Of their financial failure at any
time. Since these reports many peo-
pie have been anxious to know what
their financial statement would show
when issued on July 1st.
The Wall Street Journal of July l7th,
and by the way, the Wall Street Jour
nal is daily financial publication,
published on Wall Street, New York.
In the issue referred to, it has quite a
long article and statement having ito
do with Sears, Roebuck & Co.'s finan-
cial condition, base On their state
ment OF the year ending June 80, 1908.
This statement shows that their sur
plus was reduced from 80, ,542, 900. 90 at
the close Of the year 1907, 1,704, 39S. 90
at the close of the last fiscal year.
This, as the Wall Street Journal says,
shows a decrease Of $500, 600. 90 In sur
plus, which evidently went for the
payment Of dividends 1t will be re-
membered that Sears, Roebuck s. Co. 3
preferred stock draws a given per
cent of interest, or dividends, and
this must be met or the company
would go into the hands Of a receiver.
And it is very likely this $500, ,O0O.0 90
was taken out Of the surplus and used
for paying dividends.
The Wall Street Journal goes on to
show that the decrease for the total
year makes about 20 per cent, and
says the management expects a leaner
year this year than the one just closed.
The same publication also says that
Sears, Roebuck & Co., have on their
pay roll 1900 employees, while their
usual force was S,40O.
The Wall Street Journal, In an in
terview with vlce-president Rosen-
wald, of Sears, Roebuck s. Co., makes
him say 1t looks as though business
would be dull for some time, and that
last winter they suffered at the hands
Of rumor mongers who seemed deter
mined to place them In receivership.
The Mail Order Journal, which is
considered the official organ Of the
mail order business In their August,
1908, issue In commenting on the
status OF the mail order business, and
In speaking Of Sears, Roebuck g. Co. q
financial condition, gives practically
the same figures as those used In the
Wall Street Journal. The Mail Order
Journal says that while their state
ment shows q drop OF s1l, 600, 600 In
business, that 1t also shows a CORES
ponding decrease In profits, and then
says; 1.-THE firm has been indicted In
the Federal Court Of Des Moines on
charge Of using the the mails to de-
fraud. Certain statements in its cir
culars have formed the basis of the Sc
rious charge. Not only have competi-
tors, but local traders In every part Of
the country have taken advantage Of
that Indictment to hurt it's busi-
ness"
These two statements coming from
authoritive sources and In fact right
from headquarters, indicate that
when some concerns are brought to
account-when they are indicted for
fraudulent use of the mails--it has
very, very marked tendency to de-
crease their business. II they had
been doing fraudulent business, and
we doubt not but what most people
think they have, then this forces them
to answer for their wrongs and puts
the business where 1t belongs, In the
hands of the legitimate retail dealers,
and lisa very satisfactory condition,
Many retail merchants have said
that although they thought this large
mail order house was fraudulent from
top to bottom, yet they thought moth
| ing could be done TO punish them OF
| to bring about different condition.
1t makes no difference, Mr.. Merchant,
what you have thought about 1t, their
own statements prove things can be
righted.