Richmond daily register. (Richmond, Madison County, Ky.) 1917-1978, 1921-07-15
WEIGH CONSOL|DATES
HIS RETAIL STORES
Interests At Richmond, Berea,
Hazard and Harlan Merged
Under New Management

ty retail field. He has not beer
about Richmond for some time
and his friends here now lcarr
that he has been busy consolidate
ing his merchandising interests.
a few days ago he completed
a deal taking over a large portion
OF his former business at Be
rea and consolidating it with his
Hazard and Harlan interests I'M
der the name of John w. Welch
Company, with the main office at
Berea.
Now, ON July 2, he has COM
pleted further deal whereby he
takes over and absorbs the Rich
mond WelCh Company, and thus
combines in the new firm all his
mercantile interests in Hazard,
Berea, Harlan and Richmond.
Heretofore, Mr.. Welch as had
bis interests in these different
towns under separate manage
ment and separate corporations.
The new company of the JOIN
w. WEIGH Company is not a cor
pOration it is understood, but it Is
capitalized at $15O,OOO, all paio
in.
The several years OF past eX-
periencc has given Mr.. Welcf.
certain definite ideas of busines:
methods for retail stores which
he has been anxious to put into
effect and which up to the present
time has not been practical, he
says, owing to the lack of uni
form management and control,
buying power and the presence OF
different stockholders in the diff
ferent firms and the complete
lack of cooperation of the differ
ent enterprises. i.
Now with one organization and
all management and control cen
tralizcd in one office. these meth
DDS can be put into full effect and
uniform control exercised. Mr..
Welch says that all the stores
owned by the new company will
be conducted on strictly cash
basis. No book accounts will be
used Cash sales. cash purchases,
constitute some of their essential
policies.
Mr.. Welch states that he really
had planned ON staying actively
out of the merchandise field for
at least another year surveying
and looking around little but
the time in the other towns seem
ed advantageous and as the Rich
mond store required a change III
management and general shak-
ing up at this time, he thought
best to complete the reOrganlza-
ton while he was at it.
Mr.. Welch further said:
1T is necessary for all retail
stores to take their losses as
quickly as possible and those who
are unable to weather the storm
either i'll capital or management,
should be moving on. He added:
Good management and sound
operative basis will be more es-
sential during the next year or SO
in this field than ever before. The
worst is passed provided all loss
es up to date are fully taken. The
trouble is great many retail
merchants kid themselves by tax
ing their inventories at the cost
and not at replacement values.
and are trying to hold the prices
so they can get out from dr'lcr
their losses. 1t can't Je done
and it is not right. The p::biic
is entitled to the new priccs and
this matter is now all nj, impu:t-
ant one. Quick cash sales. small
profits, big turnover, co;picd
with advantageous cash pur:!las-
es will be the winner. New 'ii1n-
ayers. not familiar with The past
few years, are oftent'IlcS ,"rre
profitable now in retail stores.
We are going to give Madisori
county just what che, are look
ing for and expecting IN Cur line.
We believe in Ri :hn.onl and
Madison county"
Mr.. Welch and his family are
at present at their summer home
at Winona Lake, Ind. b.t he ex-
poets to return and take person
al control about Septe,uber lst.
and the Richinord %:':b store
will be absorbed and taken over
July 20.
AS noted in these columns be-
fore, Mr.. r. H Enbree, formerly
with Mr.. Welch at Berca, and tie
Kemmerer Hardware aud Fvr:li
ture Company, of Keinn' er,
WyO.. has taken CHARGE Of the 1o-