| Show THAT DREADFUL WORD FAILURE in these times of trade depression there is both intelligent comment and speculative theory as to the origin continuance bonti nuance and ultimate outcome of this almost universal t phenomenon not but what periods of financial stagnation have occurred before and are likely to occur when the present is forgotten yet it may be believed that thero there is an individuality about these recurring periods else elee those engaged in trade particularly the experts would learn by experience how to avoid or overcome that which so at facts the many man interests involved the very fact that this is not the case is evidence that there is no universal law ism otherwise the universal panacea would ere this have been discovered and panics might have been as easily prevented averted or limited in their effects as is the disease of small pox by the intervention of vaccination ci the strangest fes feature iture of these theme times of suspended animation is that the oldest most experienced and those assumed to be the safest wither either and die before the paralytic influence almost as ae readily as the inexperienced nay many of the latter may komenow survive and upon the ruins of their as fumed superiors rise to affluence and unquestioned stability in tradel these thoughts may appear to be only applicable to the broad field of national natio oal transactions or of a worlds complicated commerce for the barometer of business in london and new york I 1 is as sensitive to the failure of baring brothers or the suspension of a prominent Austral miAn hink bink as is the little one on our door jamb to the climatic conditions around it when a great house or firm goes down or an institution collapses finance feels feel in its uttermost tentacles teut acles the shook a ad id crash of failure at the same time insolvency and bankruptcy are not confined to stringent times in days of boom and undisputed activity men and firms go down there are local and individual peculiarities as there are national or universal ones and it to is with the former more particularly where observation and special interest exist that present comment may be of value al though it should be and is a business mans dut duty yand and pleasure to read and aad study his bis and things which affect it is oear or far thiv favored territory of utah la is our home and its if prosperity is in our ambition even personal interests are merged in the consideration of those details which affect its good name its ito well being its business stability and financial success suco ees if years of experience are of account if occupying a oblation to survey the territorial trade field will any comment valuable all that is desired will be achieved and it if the humblest one en ea in trade can learn a lesson lesso a this effort will not have been in vain there are a large number of stores or dealers in merchandise in the towns and villages of utah ulan years ago cooperative stores were the rule and their deal was almost exclusively with one house many of those who were ta directors rectors and salesmen in those thos stores estores were absolutely unaccustomed to buying or selling to dealing in or despois disposing of produce receiving or giving credit was not a system in their bustness business program they bought and expected to pay they sold and expected to be paid SOMO some time promptitude on either side was an unknown factor their pay for goods suld sold came mainly in produce upon which there was waa waste or low loss consequent on distant changing or unknown markets lack of training and experience soon exhibited itself in cramped conditions but MI all these stores had an object and even when disappointments and disaster stared them iu in the face tilt the fact of mutual interest tided over ammy a difficulty which meant ruin under other circumstances to directors stoc khol bol lers salesmen and settlements at large A case recurs t memory where in a prominent southern town the local cooperative store was indebted to one firm some 18 the goods were gone from the shelves the people had bought and used them payment was deemed secure at harvest har veat but the harvest never came after consultation an arian arrangement gement was made by which this indebtedness duess remained in statu quo an agreement was concluded clouded for a certain small credit not to be exceeded and all other tra sanctions sao lions were to be for cash now had bad this indebtedness been due to many firms as to houses in chicago st almis SL joseph denver ot san francisco payment would doubtless have been enforced the stock teams larme arms and houses of the stockholders would have been jeopardized and may be lost but the principle of brotherhood prevailed and three years afterward when the writer visited that town again this store was out of debt was buying for cash discounting its bills and had a fine stock of merchandise on hand here is an object lesson lemon by which men in business may learn that it is not always smart to become restless or picayunish in feeling as an to trade for it cannot be denied that there are many stores in utah today that are in an embarrassed condition and the managers thereof do not know goow how to extricate themselves without dishonor they have become indebted in too many directions persistent sanguine that people will pay their debts have by methods known to trade crowded upon the unsophisticated and inexperienced buyer or dealer goods in excess ot of necessity and many such euch purchases have had to be paid for with money which really belonged to the home house or firma firm which las has given accommodation and credit for months ithe and years before thirty or sixty days outside in business means thirty or sixty days only whereas it has been assumed to be three or six months at home or lunger longer it if this was inconvenient further trading abroad has bus been indiscriminate or with many firms firm as though the moral courage to say nop nol was not within the range of a buyers vocabulary that this feature has exhibited itself in several late assignments is probably not to be wonderer won dereu at for even large shrewd and experienced experienc eu men of business may fall into the same earne compromising error A prominent case of this kind occurred in this city but a little while au ago friends aud and rivals were equally astounded when the he balance ahert was published that so large an indebtedness was made up of so no u ui usually numerous small ones but one or two accod accounts 11 to of 01 magnitude appearing in the ached ulf witt a total of nearly another local collapse maue made an exhibit of indebtedness amounting to bo u ith a list of 01 seventy creditors credi lure while baill a later one had bad a list ot of fifty five creditors lor for an indebted bess uess of 01 it is easy to realize that this is sit all wrong althou although gb in due latter cases they were mixed stor stores and the same condition wherever it may exist exit t must dust bib be looked upon ws as evidence ol of weakness of Jg ignorance norance in fact ot of dangers danger and it il might almost be said of failure for when money is s scarce the small accumulation to oi of daily business busi nees out cut no figure in pay ment it divided and it given to bul bui one or two dissatisfaction ensues some gome more resolute or needy than the others i sell self defense crowds fur payment and the fabric lulls falls to atie ground brouno assignment comes as aa a consequence forced sale 01 goods affects an already trembling trade legal expenses eat cat into the proceeds and every one concerned is the loser now mow bad any of these firms r noted been satisfied sati fied to deal with bun one or two wholesale dealers a payment of a few hundreds or thousands in the larger jarger case woula woul i have counted somewhat and there might have been i patient advisory samps sympathy thy or aid and so financial salvation so 80 long as credit prevails such a trade concentrated and confined would have been worth looking atter after and pro preserving nerving but a series ot or accounts in a failure for which tun from a couple to five hundred dollars is nut not worth having certainly not worth much cultivation ti it would pay many of the stores in this territory to set a limit limitt to their otheir buying to learn to say no to a pressing drummer to fully series sense that goods bought on thirty and sixty days should be met as promptly with a local asa distant fiew to see that goods bought from a die distance dl tance if short time moods like groceries etc are due before they reach the shelves helves of the duyer buyer that often quantities have to be bought which are b ba yond need in order to secure a given price and that this is false economy bemuse because common interest will amount to more than the drobits on OB many staple articles of trade the question may be asked what has a newspaper or the public to do with these features of trade or of what interest is it to the users of goods to know the business of the little store where he gets his supplies much every way is the reply the newspaper is the guardian of the ibe public interests athas it has a voice it possesses power it can correct an evil or an I 1 abuse it can create and foster public senti sentiment meni and itself is dependent upon bu business kiouses Lio uses business habits babits and promptitude of payment every even for its own success eucce sp the great public have an interest lu iu honest and intelligent ueal they go to their store to barter or to buy with wih it they perchance possess a lutle credit it only for an emergency some of them are shareholders or owners it individualized but they are interested in succeed they do not want to fail their personal credit the credit of their company of their town is at stake there is much risk in stringent times and as a good seaman is always prepared for a equal or storm so tue mood merchant the honest bonest conscientious business man keeps out of deep water oe ito does not tempt calamity he seeks to be sate safe and to bring no disaster upon others hence it may be asserted that conservatism to is needed now that financial salvati 0 n is needed now and that the wisest of men in business a have now to furl sall sail or run near the shore if they want to enjoy the harbor ot of content conical and peace and to avoid debt particularly of a widely distributed character to is the highest while to extend that in makes one liable to the imputation td of ignorance or open to the suspicion of fraud |
