Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1912-10-23
BANKERS FEEL PINCH
Society to Be Organized to Re-
Iieve Pressure Of High Prices
VIII Buy All Supplies From Producers
and They viii Be Handled al
Minimum Cost-Has LOU
Members.

Boston.-Eyen the fellows through
whose hands flow each year mllllohs
in good, hard cash feel the plncn u
mounting prices. Like the rest tney
have contemplated with disgust ana
chagrtn the bill of the butcher, the
grocer and the other dealers IN mousse
hold necessities and have grown eireu
of its constantly growing proportions
They have not been content, however
to sit still under the burden; tney nave
decided that the time has come 10 uo
something and the Cooperative 80
ciety of Bank Men is the result. IL u.s.
generally speaking. a plan TO orlns
back the so-called GO cent dollar 10
something like Its face value
The new organization, which was In
corporated recently under the laws Oh
Massachusetts with capital Oh 49,.
900, will start with membership or
1000 and will eventually take IN
membership In excess OF 1000 Fri
marily 1t was founded for the peneht
Of those who are connected with oanks
and kindred financial institutions, out
It's scope may be extended ilttle 10
take tn others who may prove satlslac-
tory to the original members.
On the whole, the association pre-
fers to do business with the producer
and he's already made arrangements
to that end In g number OF lines. II
has been figured that at the outset a
large amount may be saved By cutting
of the small profits which accrue 70 a
number of agencies before goods reach
the average retailer.
In tho beginning the society VIII
endeavor to confine itself to staple
line of goods which may be turned
over quickly so that the capital may
not be tied up for any long PERIOD.
These staples will, naturally, embrace
meat and groceries, but Will not De
confined exclusively to them. AS the
demand arises, @ wide variety OF ar
ticles for household and general use
will be added While the nature OF all
the merchandise has not been decided
upon, 1t is sure to have a wide enough
range to satisfy the calls from Gus
toners There are possibilities IN
many fields of retail trade. For IN.
stance, It has even been suggested that
the younger members might be sup
piled with some sort of sporting goods
and might be able to cut down eXpend-
!tures on such semi-luxuries as golf
and tennis balls.
A sizeable economy, of course, Will
be effected in the selling as we'll as
the buying end. The society has no
idea of starting anything like gen
,ral store, but will maintain a dlstrib-
uting station at some point convent
ept to the financial district. Here the
goods will be stored not with an in
tent to display, but for easy and rapid
handling.
One element which viii be insisted
tDon will be the handling Of only such
foods as give reasonable assurance OF
4 quick turnover" The society Will
avoid from the start those things
which arc familinrly known in the re
all trade as "stickers." Tho stock
# merchandise must be cleaned up
.apidly and new stock bought. Moth
ng that will lie on the shelves from
season to season will be included In
The list Of articles In which the cor
,oration proposes to deal. All goods
Will be sold at a safe margin Of profit
so that II will be impossible for the
society to be caught in even tenn
oorary difficulties.
Curiously enough, two men In the
financial district were working out
1lans for some sort Of concerted effort
among their fellow employees. For
some time past Frank W. Chase Of the
United States subtreasury had been
making an Investigation into co-opera-
tive methods Of buying and had been
interesting his friends In the advant-
,ges Of the scheme At the same timo
Charles E. Mott OF the New England
Trust company had been perfecting q
similar plan. Neither had at the out
set any conception that his Ideas
would meet with the general approval
which later developed.
All the officers and other members
If the society who may be called upon
% serve In various capacities do so
without salary, and the only salary eX-
1enses will be for such persons as
! may be employed IN buying and sell
! ing.