The Washington herald., 1916-10-19
.PUGH Stores COMPANY
SOON TO LIST Shares
Local Financial Circles Interested in
Offer of $5,000,O 900 Securities.

Financial circles in Washington and
throughout the East are greatly interest
ed in the announcement of the offer Of
100000 Of the capital stock Of the Pugh
stores Company. While the shares Of
this company have not yet been listed
on the New York and Chicago exchanges.
the company is well known in the finan-
cial world. It is announced that appli-
cation shortly will be made to have the
shares listed.
The Pugh Stores Company was incor-
porated February Is, 1915, in Maine, for
the purpose OF owning and operating n
chain OF 1000 stores, dealing in general
merchandise, together with a general
mail-order business, the Pugh Terminal
Warehouse Building, Chicago, and open
ing OF the largest produce market in the
United States on ground adjacent to the
warehouse.
The headquarters OF the company are
located in. the warehouse in Chicago,
which Is said to be the largest building
of its kind in the United States, having
more than twenty-three acres Of foo.
space, facilities for loading or unloading
800 cars every twenty-four hours, and an
underground electric road connecting
with fifty-two freight stations in Chicago.
On the north side, facing the Chicago
River, there are docking facilities for
handling five large lake steamers at one
time. The building and elevators are so
arranged that subway cars may be placed
on any floor OF the building for loading
or unloading.
Has Large Waiting List.
According to records of the company,
dated January !, 1916, the msil-order de-
partment already has more than l,ooo, 900
customers on its waiting lists, scattered
throughout the United States.
The company estimates that based on
the net returns from the stores now In
operation, which were 81, 500 per store, and
average net earnings of the Pugh Termi-
nal Warehouse over a period Of twelve
years, that after the expenditure Of the
money received from the proposed sale of
stock, the net earnings Of the company
will be at least 1880. 900 per annum, or
more than IS per cent on the entire out
standing stock, 81, 2,2S1, $50.
The money derived from the sale OF
stock is to be applied to the purchase of
additional merchandise, to increase the
capacity Of the warehouse and erect and
equip produce buildings.
| The idea of operating a chain Of stores
Is the result Of ten years OF study OF the
problem OF mail order and country mer-
chandising in the United States and Flu
rope. The Pugh plan is said to combine
the methods applied with such marked
successes by Sears. Roebuck & Co., F. W.
Woolworth & Co, the United Cigar
Stores, and others
James A. Pugh, president OF the COM
pany, Is man of international reputa.
ton, and one of the most able and sue
cessful men in the West. He made Chi.
cago the greatest furniture distributing
point in the world. He founded the Pugh
Terminal Warehouse in the year 1904, and
its success and growth have been sc
rapid that today it is the largest ware.
house of its kind in the United States.
! Associated with Mr.. Pugh in the man.
agement are men most adapted to that
! particular branch OF the business: Rich.
ard S. Folsom, vice president and coun-
sell formerly corporation counsel for the
city Of Chicago; Irving Shuman. vice
president, in charge OF finance, formerly
assistant treasurer of the United States
in Chicago; Noah Payne. vice president
in charge of stores, one of Illinois most
successful merchants.