The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1918-09-04
BEAT T0WNLEY
BY GOING HIM
A BIT BETTER
Linton Merchant Has Idea as to
;Competition with Chain
Stores
OFFERS REAL INVESTMENT
Would Pay Farmers Interest and
Share Profits with Them
on Stock
OFFERS REAL INVESTMENT

"A ueW lOTul OI attack IS 10 Oe
launched on the Townley Chain stores
by J. j. Kremer, manager of the
Broadway Mercantile Co.. of Linton,
who was at the: capitol today looking
up articles Of incorporation of the
TOwnley concern which on caital-
ization Of $4,000 has collected from
North Dakota farmers in The neigh
horhood NJ &2,e00,oO0. "a,
The Townley organization plans
putting in stores at Linton, Hazelton
md elsewhere in my territory said
Mr.. Kremer. The fact that the farm.
ers are subscribing to his scheme con-
vinces me that they want an interest
in the stores, and intend to give
the man opportupnity. But am going
to 60 Mr.. Townley one better. will
give the farmer actual stock in ex-
change for his $1OO; will agree to
undersell for cash the Townley stores,
and if the farmer hasn't the cash
will loan it to him; will pay the farm
er good interest on his Investment:
will share profits with him at the
end Of each business year, and l will
give shareholders special discount
until the $500 which they have paid
for stock has been returned to them.
They will still remain stockholders
and profit sharers in the store.
BY placing my business on 4 cash
basis. believe l can do business for
20 per cent less than it is now gener
ally costing. am confident that
can duplicate any order that is now
going to the mail order houses, and
I know l 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 60 in with us, and
become shareholder in the business.
I'm the Townley chain stores the
farmer is offered no chance of getting
his money back, unless the store goes
out of business inside of ten years,
and then only 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 understand
it. In my plan every penny will be in
vested in the store. ! believe the EN-
mons county farmer is a good enough
business man to recognize the differ
ence between being stakeholder and
a certificate.hOlder, and l intend to
meet Mr.. Townley on his own ground
In talking with my farmer custom
ers I find that they generally regard
the TOWnley chain stores as COOPER
ative proposition, like their farmers
elevators. AS understand it, this
is not the case. The certificate which
each member receives in exchange for
his LOO gives him the privilege of
trading at the Townley store. but it
does not entitle him to any share in
the business nor to any portion of the
profits, II ! understand the PROPOSE
tiOn correctly. It is very different
thing from farmers elevator. where
control is retained in the farmers
hands, and where. If there are any pro-
fits, they are pro-rated among the
farmers.
II intend to draw up my plan care.
fully and I will enter 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 l intend to
make against the Townley scheme,
and believe 1t will win.'