The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1927-10-05

MI. Goldman suggested to the
Secretary plan for a general coun-
ell Of dealers. bankers. economists
and Government officials to discuss
trade practices, ethical standards
and policies of insallment buying,
especially in the retailing of cloth,
ing.
I'VE want to establish certain
basic and necessary principles for
the protection of the public and the
industry" Mr.. Goldman said follow
ing his conference with the Secre.
tary. THE installment clothing
plan has grown to such tremendous
proportions that some codes and
systems are required to insure pub
lie confidence and solid operation"
Mr.. Goldman, who will soon open
in Washington the seth store in his
chain. pointed out the gigantic
economic importance of the install
ment clothing sales business.
ID. G. Store a Model
"A few years ago." he said, Sin.
stallment sales Of clothing was al
most unheard of. Now it has grown
to point in which the Goldman
Stores, Inc. alone operates iilsti.
buttons in Sc cities. Our Washing
ton store. a model. beauty in fur.
nishings. is second to none in our
chain. 1t is not tucked off in an
obscure, cheap section, but is placed
right in the heart of the business
district, where no one need feel
ashamed to be SEEN"
y Mr.. Goldman is one of the young
men who are now taking the lead
in big business in the United
States.
His working theory is that "the
good character, industry and earn
ing power of man or a woman
justifies financial accommodation,
precisely as the standing of a
corporation entities it to credit"
and on this foundation he has
reared business which is rapidly
spreading it's activities over the
country.
But there is more to Mr.. Gold
mans achievements than phenome-
nal business success. He Is also
doing much to demonstrate that
sanely conducted consumer credit
or "installment buying --is sound
economics.
Pioneering that Counts
The sensational growth of this
corporation during the last few
years is admittedly due to the
business genius and dynamic lead
ership OF Goldman, and just now,
when installment buying is the
storm center of discussion through
out the economic world, this young
man--only 36 years old and looking
even younger-looms large.
Within a dozen years he has
created a huge corporation, dis
tributed its energies over wide
territory, amassed a great personal
fortune and successfully demon
strated the soundness Of a new
financial policy
But he has done far more than
this. For example, he stands high
among real estate operators, on his
record for keen vision. quick, de-
cisive action. high courage and uni.
form success.
Angles Of Busy Career
Seeing the grave consequence In
the miscarriage of justice through
the laws delays, Goldman has been
one Of the pioneers in the modern
movement for the commercial arbi-
tration. AS vice president of the
arbitration Society of America. his
work has been instrumental in
bringing about arbitration enact
ments in many States. together with
the recent Federal law which estab-
lished commercial arbitration as q
national policy.
Goldman is an ardent advocate Of
all that aids in the healthy develop
ment Of American youth. He has
been member of national advisory
board and chairman OF the New
York division Of the Boy Scouts.
In art circles young Mr.. Cold
man is as well known as in the
fields Of commercial enterprise and
public service. His New York home
at 944 Fifth Ave. contains many
fine examples OF the art of Rem
brandt, Velasquez and others OF the
classic group. together with paint
ings by artists of the modern school.
Business Methods
OF the business methods which
he has employed successfully in.
fostering the rapid development Of
his large chain OF stores, Mr.,
Goldman talks with utmost frank
ness. .4
Here it is in a nutshell. The
organization of which am the
directing head buys for cash, in
huge volume that gives us many
advantages in prices and discounts
not within the reach of anxy In