The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-12-14
A GREAT MERCHANT GONE.


4hs death OF Ionn Wanamaker takes from
the merchandising circles Of tho United States
th9 greatest merchant OF hla time. We do not
fesN like qualifying that statement broad as It s.
9n material success. in the mere details Of
suocessfui buying and selling there we're and
srs many nierchapts tho equal Of the Phllnde-
paia tradesman But where 10 there another
who so tremendously influenced the business OF
merchandising as wnnamaker dprlus his long
nm?
1t IL possible that Wanamaker Is given too
mich credit for present-day honesty and high
standards In advertising but the fact remains
that In the popular mind he the pioneer In
trathfu advertising and demonstrating the
snIendid effect OF truthful advertising upon tho
counting room.
5wanamaker insisted absolute honesty in
his store first of all in his advertisements And
he was OF tho first great advertisers In the
merchandising business. He literally depended
on the daily press OF his city to move his i'm
n1ense stocks while they were seasonAble.
aff an article was a trlfe off standard he re-
qykred that his copy writer's state the exact
faQts. II article was water damaged yot in
an other ways perfect, that fun truth was given
inshis advertisement. This striking honesty was
inFanty appreciated by the immense clientele
gsse to those establishments an unmeasured
capitalization In good will,
fWanamaker conducted his own business He
entered local organizations which hindered
the FREQ and unimpalred play OF his personal
Judgment in conducting his own stores It his
own business required special mark down sale.
IL was conducted regardless of merchants assoc
citations anything else He constantly
Startling the trade with his Innovations
The last. perhaps the greatest OF his unex-
pected moves his sudden resolve in 1919
to@unload his stocks and bring his business
back 10 the current market His huge adver-
Elements announcing 25 per cent reduction on
cvNry article in his stores Mt time when other
merchants were advancing prices created a SEN
sation among buyers and brought down on his
head the scathing condemnation of every large
merchant in the trade
His competitors declared that he was crazy,
that at last he had made tho false move they
had long been watching for that he could not
replace his stock Mt the figure he was selling
10 his customers; that he would he held respon-
sible for tho merchandising failures that were
to follow. And on and on.
fBut what was the result? In the first place the
Wanamaker stores thronged with eager
buyers, and his stocks were transformed into
DUNK palhnCeS III tne shortest time ever known
lte was thus In position TO go into the mar
ket and make purchases for cash on his own
terms. His competitors. with their stores
crowded with high priced goods had little busi-
ness for themselves and less for the manufac-
tdter and wholesaler.
Wanamaker Was the biggest buyer IN n mar
ket that tottering under tho blow he had
given It. and therefore enabled TO make
requirements largely at his own figures and TO
take his margin while still selling below the
cost OF those competitors who had criticized.
And his independent action preclpltated the de-
clihe In prices which the country needed He
took his losses in lump. but his courageou
action enabled him TO Immediately cover and
place his business a stable basis.
II is now admitted by every banker and mer-
chant In the country that had every business
did as Wanamaker in 1919, the depression would
have lasted only a few weeks and the losses to
individuals and firms would have been far less
than they finally after hopeless contest
OF many months against the fate that could not
be avoided.
Wanamaker was great merchant. IA good
citizen a Christian gentleman and a wise and
influential political leader. His place will not
be easily filled