The Washington times., 1921-03-10

AND
Does Generosity Pay?
One Company's Growth
Would Suggest eyes"
A Pointer for Others.
By b. C. FORBES

L
BY B. C. FORBES.
Talks cheap. When a man or
concern wants help. empty words
don't satisfy. Deeds talk best.
A man who is now president OF
one of the strongest banks in New
York was formerly located in Louis
VILE. Whenever a bank failed in any
part of the State he Immediately
wired the other banks In the COM
munity to call upon his bank for any
assistance that might be desired.
These kilograms usually were posted
prominently in the financial institu-
lions receiving them. and their effect
often was completely reassuripg
Also. this little act of thoughtfulness
brought many valuable accounts to
the young bankers own institution.
Indeed, 1t was the phenomenal growth
of his Louisville bank which caused
New York to draft him for high
place. That banker was Percy II.
Johnston. now president of the
rapidly-growing Chemical National
Bank.
When the business became quiet
last Summer some concerns immed-
lately rallied to the assistance of
those doing business with them.
Others insisted on the last ounce of
their pound OF flesh. One large COM
pany. for example, sent a kindly let
ter to all it's customers telling them
that. as prices were tumbiing IL
would regard all orders as cancelled
unless a fresh request was received
to make shipments. Other corpora
lions, as we have seen from the
newspapers, have brought and are
bringing long strings OF legal suits
to compel customers to accept full
shipments and to pay wartime
prices.
Banks. too. have been tested and
tried during these last nine months
Some have drawn their clients in
fnitely closer to them by their gen.
crous, considerate action. Others
will find customers forsaking them
as soon as conditions make this pos
siblc.
Crises test. We have been passing
through a testing time.
Three years ago a Middle Western
manufacturing company was doing a
pucibtSS VI hNt oT GIN fnliilOn oOIldf
a year. 1t is now doing five or six
times as much. Also. it's financial
strength has grown correspondence.
This is a record many concerns
might well envy.
How has Ii been done:
When the general business quietudc
came, this company promptly put all
q M hNs trf ,fp,y
them that 1t would accommodate itself
exactly TO their needs and wishes.
Unlike a great many enterprises, it
did not Immediately pull in it's horns
and Kill all efforts TO attract bust
ness. Instead, it went ahead full
steam with it's advertising and its
other sales plans.
Then. last month, it issued the fol-
LONG remarkable letter to all it's
customers and to the whole trade:
please note particularly the last
paragraph:
The simmons Company.
kenosha. Wis.
Having passed through a period
without parallel. no one knows what
normal Is. Whatever ones opinion
may be regarding the length OF time
it will take to get all business back
OH n SIdDlF EdSls-dnU many con-
flicting opinions are expressed daily
there is no doubt whatever that the
individual and corporation which rem
ders the greatest service during this
readjustment period will secure the
best results.
This Is a time for faith-faith in
our country and it's unboundcd re-
sources-faith in our Government
faith in our men OF business-faith
in each other, and last, but by no
means least, faith in ourselves
faith in our individual ability TO i'm
prove conditions.
But the process of getting back
on a stable basis may impose un-
usual hardships upon some of the
trade, and il is for that reason We
arc sending out this letter-.to assure
our customers that we wish to do
everything which we possibly can do
to help them in every way
Believing that the country is sound
and that our faith, backed by vigor-
Gus action In close cooperation, will
result in mutual good, We are pre-
pared to extend such additional credit
help as may be necessary-not be-
cause we are imbued with any I'M
common spirit, but because the situa-
ton calls for such mutual effort and
common sense-because, in word.
that is our idea Of good business.
"Yours, very truly.
THE SIMMONS COMPANY.
IL. V. AWARD
president"
Is 1t astonishing that this company
is by far the largest concern in it's
line. not only in the United States. but
in the world?
In these days when courts are
clogged with disputes over broken
contracts. questionable practices, and
all manner of flim-famming, II is re-
freshing and encouraging to cite an
instance where a different policy has
brought completely satisfactory re-
suits. Our business morals. like many
other things. were demoralized by the
war and its aftermath II Is high
time for business-as well as for la
bor-to return to honest. honorable
practices, giving full value for every
dollar received. and being more anx-
ious to earn rewards than to grab
them by hook or by crook.
UNLISTED SECURITIES.
Furnished by Frsdkin. Meh,mHr & e'rs-.