Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1920-11-29
Well Known Webster City
Banker Tells Merchants
Of Business Con-
ditiOns.
BANKERS SIDE GIVEN
Tells Best Methods of Mer
chandising in Present
Crisis.

y
First NATIONAL bank, we'll known fol
good many years as a careful anf
conservative banker here, spoke Tues
day att the MONDAY luncheon of thu
Credit Mems Association at the Cham
ber of Commerce. His address was
well taken by the merchants present
and generously applauded by them
present Business Conditions" was his
subject, which he handled in so inter
esting manner and which abOunded ii
so many good business suggestions thai
the Freeman-J Journal gives the larger
part of his talk, as follows:
II would like to be able to tell yOr
merchants how to sell your present
stocks at profit.
II would like to be able to tell the
farmer how to sell his produce at q
profit, for If we could show him how
to do that our problem as business men
would be solved to a large extent
1--WE are facing crl1 1is equal, if not
harder, than four years. ago. You may
try to kid the other fellow but you arc
only Kidding yourselves when you try
to convince him that your line of mer.
chandisc is the only one that will not
suffer decline in price. You are bet.
ter posted, each in your own line, than
you are in the other fellows line and
you cannot see how it can possibly be
done.
1.-THE farmer feels the same way and
knows that it can't be done in his
line. However. he is going to be fore
ed to take approximately one-half the
cost. of production for his crop this
year.
"Ypur. whole business here fs DR. II
rect!y or indirectly dependent on the
farmers of this community and what
affects him will affect you and, as I
see it, it is just as bad for your bust
ness to have this big slump in farm
produce as it is for the farmer, and
1t would seem to me the sooner you
take your losses the smaller they will
be.
No Profits to Merchant.
"You cannot possibly expect to make
profits this coming year and if you
avoid giving back ia, your customers n
large part, or all you have made In
the past two years, you are good mer-
chants.
"We bankers have been too liberal
with our loans, both to some Of the
merchants, and to some of the farmers,
for their good and for our good, and
we will have to take some losses along
with the rest. We are only human and
make as many mistakes as the average
man, and the only wonder is that we
don't make great many more, as the
traps set for us, and apparent oppor-
tunities offered us are unlimited.
"Your interests are our interests
and bank that is worth while Is VI
tally interested in a merchant or a
farmer, and yitally interested In
merchant or farmer making profit,
whether he is n customer of that bank
or not; and you merchants should be
interested in the success Of each other.
Keep Money Here.
''rhis talk may sound pessimistic to
you. but if it accomplishes what l
want it to accomplish, it will make you
better business men. We have with
us condition and not theory. Put on
your fighting clothes and let us all go in
to win. Let us lay plans individually
and collectively to keep the dollars
here in Hamilton county. Sell goods on
q replacement value, instead Of cost
value. Buy the same way, sell at a
close margin, and don't be afraid to let
people know about 1t, and when this
readjustment is over with, you will
have large volume of business on a
profitable basis, and you will have
a loyal bunch Of customers, instead OF
a critical shopping lot Of customers
who send all their spare cash to some
mail order house.
Gentlemen, this Is the best county
in the best state in the United States.
Hundreds of thousands Of dollars are
being sent out Of here every year for
merchandise. If you could make FIVE
cents clear profit on each Of these dol
lars You would have some money. Go
get this business or, better yet, keep
this business where it belongs.
"Be honest in your advertising. When
you advertise bargain, give a bargain.