The Washburn leader. [volume] (Washburn, McLean County, N.D.) 1890-1986, 1918-09-13
BEAT T0VNLEY
BY GOING Him
A BIT BETTER
LINTON MERCHANT HAS IDEA AS
TO COMPETITION WITH
CHAIN STORES
OFFERS A REAL INVESTMENT
WOULD PAY FARMERS INTEREST
AND SHARE PROFITS WITH
THEM ON STOCK

launched on the Townley Chain stores
by J. J. Kremer. manager Of the
Broadway Merchantile Co., Of Linton,
who was at the capitol today looking
up articles of incorporation of the
Townley concern which on capital
ization Of $4,000 has collected from
North Dakota farmers in the neigh
borhood of $2,OO0,O0O.
"The Townley organization plans
putting in stores at Linton, Hazelton
and elsewhere in my territory" said
Mr. Kremer 1.-The fact that the farm
ers are subscribing to his scheme con-
vinces me that they want an interest
in the stores, and l intend to give
the man opportunity. But l am going
to go Mr.. Townley one better l will
give the farmer actual stock in ex
change for his s100; l will agree to
undersell for cash the Townley stores,
and if the farmer hasn't the cash
farmer good interest on his invest
ment; l will share profits with him at
the end of each business year, and
will give shareholders a special dis
count until the 500 which they have
paid for stock has been returned to
them. They will still remain stock
holders and profit sharers in the store
BY placing my business on a cash
basis. I believe l can do business for
20 per cent less than it is now gener-
ally costing. am confident that I
can duplicate any, order that; is now
4Goin mail ssoFsI sr.s slionse and
I know can do business on a closer
margin than the Townley stores, with
. a hired manager in charge. We are
prepared to put in dollar for dollar
of our own money with the farmer.
We are building a large new store
! building, and will have something like
$4,000 invested. We're going to in
vite the farmer to go in with US. and
become shareholder in the business.
I'm the Townley chain stores the
I Adl NlCl 10 OAClCu AO OAouCC VI 6OLIAA6
his money back, unless the store goes
out of business inside of ten years.
and then only a portion Of the invest
ment Is returned. In the Townley
scheme not over $4,000 is invested
in the local store, no matter how
much is subscribed, as I understand
it. In my plan every penny will be
invested in the store. I believe the
Emmons county farmer is good
enough business man to recognize the
difference between being stock-hold-
er and certificate-holder. and I in
tend to meet Mr.. Townley on his own
ground.
ers find that they generally regard
the Townley chain store as a cooper
alive proposition, like their farmers
elevators. AS 1 understand it, this is
not the case. The certificate which
each member receives in exchange for
his $100 gives him the privilege of
trading at the Townley store, but it
does not entitles him to any share in
the business nor to any portion Of the
profits, If I understand the PROPOSE
ton correctly It is. very different
thing from atfarmer's elevator, where
control is retained in the farmers
hands, and where, if there are any
profits, they are plo-rated among the
farmers. "
l intend to draw up my plan care
fully and will entor into straight
agreement with the: farmer, pledging
him interest on his investment .
share in the profits and absolute rock
bottom prices for everything he buys
That's the only argument intend to
make against the Townley scheme,
and l believe it will win.
Tribune.