, 1923-04-22

1920" says Mr.. Babson. but many
other sections are ahead. Retail trade
was the last to feel the effects Of the
depression. When a slack business
hits q section the financial interests
seel it firsts; the manufacturing and
farming interests feel II second: tho
jobbers and wholesalers feel It third;
and finally the retailers ear It.
Hence. although retail trade contin-
ues good long after Wall Street is
blue it does not come back again un-
til sometime after Wall Street comes
back. There are. OF course. a few ex.
ceptions to this general rule. Tho
profits OF firms. like Tiffany. the
jeweler. who sell largely to the very
wealthy. follow close to stock market
movements: but 90 per cent of the
retail firms lag a year or more be-
hind.
THE best retail trade today is in
the industrial cities OF the east.
Where two years ago, mills and fac
tories were shut down. they are now
working only co per cent Of their
capacity. are now back to nearly 100
per cont. Akron, which three years
ago had the highest percentage Of
unemployment in the country, Is now
advertising for men. Detroit Is again
back TO normal and the volume OF re-
tail trade in most OF those cities Is
equal to or greater han 1t has ever
been. OF course, this does not mean
that profits are as large. The pub
lie is showing more discrimination
IN It's purchases and Is shipping about
more. The volume OF retail business.
however. is back to normal in these
cities.
ANY concern in an Industrial city
which Is not doing a normal business
today should clean house n ascer'
tain wherein the difficulty les. cit.
les which are about to enjoy wage
advances are in an especially favor
able position. The retailers OF these
cities shouic do the best business dur
ing 1923 they ever have done. The
mill cities of New England r in
this class.
THE farming communities may not
be back to normal although statistic
ians differ greatly as to what is nor
NAL. II we call normal the few boom
years Of the war. then tho farming
sections are still below and may be
for many years to come, II. however
we consider normal as the average
for the past twent wears and in ad-
dlt.on allow a proper amount Tor
growth, we vii, find that the re-
tail trade OF most farm sections is
now back TO normal or will be short
~. Therefore, I say that something
ia the matter with the retailer who
is not now doing n normal business.
He either In a 0 o buyer or n poor
salesman. Either no Is mixed up In
some outside enterprise and Is not
attending to business, or else is not
posted MS to fundamental conditions,
There is n hole in his economies
some where ana it is up to hlnn 10
find It.
During the next few months local
merchants should advertise, National
manufacturers are utilizing the
great power OF advertising IN the dis
trlbution OF their products. The sue.
eossful department stores are also
using large space In the newspapers;
but tho smaller retailer has yet fall.
Cd &c advertise as he should. Per.
hnpa this Is why he Is smnil-one can
not tell. There surely is some reason
why the people flock TO one merchant
and pass by another. Statistics Ger.
tainly indicate that the reason IL
closely connected with tho advertis.
log, Let me also take this occasion
90 urge retailers TO use the newspap.
or iu a diEulfied way rather than at,