Show Economist Gives Advice to toy toy y oiling Men Entering LifeWork Life V Vork ork Discusses Retailing D BT ROGER W D TOUR own as a bus bus- t ne s man as nil R father and andRS liS an Investor depends l upon getting Ketting Interested In the line of o business To ac- ac ac accomplish this th there re arc many tac- tac fac factors tors to consider among 1 General Generel business con con- con conditions 2 changes In the de- de desires de sires ot of people 1 3 new indus Indus and Inventions 4 Inherited and e lies 5 extent ot of competition 6 capital required 7 cost coat or op S Immediate opportunities t etc These are all Cac- Cac fac factors tors for Cor consideration when deciding ing on the bu In which LI work or Invest In a general way I shall dl russ dis these factors during the weeks I do this both bp- bp causa br-causa cause of oC the tho Importance ot the ct and because the m man n unfortunately tho first lob job offered to him Ir- Ir Irrespective Ir Irrespective respective of or whether or not he hela hola la tilted fitted for Cor it or the tho job olCe's real opportunities ThrEe Three men may he tel's ot or our young oung J for lor many years It not for life 1111 by entering the business hen Ica Hundreds ot or millions of dollars are arc annually lost by In- In In Investors who likewise disregard a afeW feW tUI fundamental c economic s lal nORT CE rORT NCE 0 OF nIT Most all lines of oC business can be classified into one of ot main These groups are areliS areas liS follows ls retailing manufacturIng manufacturing ing banking agriculture mining public publio service build build- buildIng building ing shipping and Insurance I Iut retailing first in this Het b- b be because cause It Is of ot o greatest Im- Im Imparlance im importance parlance nut But few Cew realize the magnitude of oC the retail the retailers retailer of ot the United Stabs II worth of 1 ach da day This supplies all the money to run all tho Ule nl the country which lays all wages interest charges public service in- in in income come lome and a billion bUlion dollars annu Illy tor Cor in ad advertising in fact runs l ii country and keeps JI ople employed In other words te ie retailer collects the mone money to un un practically all other Indus Indu- Industries tries Hence the retail business I of vital importance and and opera co-opera cooperation tion from Crom all The preachers and the merchants are the foundations o of American VS S CH cn V M-V S When one considers the subject oC retailing he Is confronted Im- Im Immediately Im Immediately mediately with wilh this question Which hu ha the greatest merchant or lh chain store Frankly I believe hat both hue their uses both will mil always exist Ire I re remember member COlly years ago ao when the store first began 10 dunlop on a Il large scale AI that time every shook In his shoes as it was then generally feared nat at the department stores swallow everything Time Rince shown that the stora has Its functions Sonic Some 3 vears go the mail order ordel b gan to Ie grow rapidly and ol ce more independent s reared that their business 0 he swept l t away This likewise a false alarm and today tody we find tind the great mall order houses opening retail stores In order to save their bacon Now I he craze la Is tor Cor chain stores titor stores like IlIe department tores and mail order house C their special fields but stores will 11 not by an means monopolizE retailing Investors naturally prefer preter to their funds with ith a well 01 or organized chain store company be- be because be because cause its lis success doe does not dep anyone any one man or upon any anyone anyone one locality This Is wise judg juds- judgment ment Moreover as a ground In the fundamentals o chain stores Il opportunity to any as they have their own on lI er mer schools which under a strict discipline Person Person- Personally Personally ally If It I had R 1 bo boy to pUce place In illg I had rather him spend two 11 ears with a a than In most business l col-l le cs On the other hand for Cor 1 alife lire work orl I seriously question whether the chain store offers as nn an opportunity as does the merchant Although make values It must be re- re re remembered that souls make men a corporation I Is apt tl tobe be more or let less soulless s For this reason no corporation of- of offers of offers fers in the long run such op as ns does docs a high grado man with a soul and a vision Every Evry community has such men In tact fact these are arc th very men which have made our community Let your boy train tor a year or two with n R chaIn store company Y but as soon Mon a tJ e opportunity let get with ith one of or your our respected local merchants HO USE TO USE CANVASSING TASSIS In addition to te the Corms ot of merchandising referred to above I must mention house house to canvassing This meth meth- method method od has lorg been In existence and undoubtedly is the oldest ot 11 systems ot of merchandising the tho first retailer went bout the streets of some Medi lIMI- Mediterranean with a pack on his calling from Crom house to e all remember the great book illing lIIng campaigns which exl ted In our boyhood days Now this system has been very suc sue sue-esaul In connection with ule oC o bru brushes hes stockings linen linens nd nd other forms Corms ot of AS s an Investment proposition theBe concerns cannot be ully All recommended The They s e tm m to tob b 3 very successful tor a few tew years and then owing to Increasing or causes cause SeeD to out Of course the tho cot ot selling der such condition Is very cry large and people ull ul l see that they can Jet get Cul- Cul Cully tut-ly tut ly is as good merchandise from Crom th local merchant for tor less money On the other hand such auch re exceptionally good rounds tor a boy who thinks hI hf to go Into retailing t thim him go ItO on the road for lor Il t f months selling goods and he soon rinds finds out whether or not he Is ClUed to be a salesman It not only is a 1 crime against a young man to 10 all allow 0 him to get Into a business for which he IS not fitted but it is likewise a crime against society One trou trouble ble with business today Is that during the stress ot of the war men and women got Kot Into 1110 lines ot oC work Cor which they were not ClUel Too many clerks In stores storE'S are hired tor their good looks while too many salesmen are employed because ot o or p ties These Thesa misfits arc not only holding back baek retail trade but also shipping nd I other lines which depend tho retailer for Cor their my advice to a ou man who thinks he would Is to first get a 0 job lIS house to canvasser Aft passing this test get into 1110 th school of ot a chain store company After learning what hat the cham store has to offer get a connection tion with ith a high grade local zen who I is successfully as an independent merchant merchant- I rep at that although men make values souls make men Seo that you ou pet get a man with a soul Hm IX IET OUTLOOK As already suggested an In l vestor estor must not be In R a where ha he la Is depending on thO lito of oC any ono one man It is important to purchase e e- e in companies of ot sufficient Ize so as not to 10 be dependent on anyone one man or an any one commo- commo community nit Such companies are I F W Woolworth Co S S Kresge Co UnitEd Drug Co Co- Co United Cigar Great Atlantic Tea Company J C Penney Co Co CoT T Grant Co One Important factor which should be kept in III mind both by parents and investors Is the he im importance of getting gelling Into Inlo a re re peat bu business iness For Instance t h- h success o of the tho Eastman company has not nol been due to the sale of 01 cameras but to the Rail of film TI The success of th ictor Phonograph company Compan was not due to the sale alo of ot phonograph phonographs graphs graph but to the fact that thos who bu buy phonographs are arc com COIll- compelled to bu buy records Great jud judg judgment ment was wall shown in selecting te grocer trado for Cor the first chain system rather than thc hoe or furniture trade erv E family buys bus groceries ies dally bu buys bus shoes only once In and furniture only once a r yer This is why I had much rather work worl or In an electric light company supplies the power In an electric fixture must be dependent on one sale talo to a 0 household It Ie po pos possible sible get your our son and ou money in a a repeat business business- o SOME n III lj OX IJ ICI D Advice is cheap heap and r 1 f w take it However there arr arp th suggestions suggestions which I should hi to to male make to the boys bos of ot your our cit I are 1 Dont Don't consider salary In getting your first job The bc pa pay the he least lar 8 at the start while the t pay the most salar v t the start Stead Steady job jobs arc apt to pay smaller wages than tem tem- temporary temporary jobs Dont Don't sell you birthright for a mess mes 2 Get a job with good peo peo- people people Go to work worl for lor people 0 character of ideas of ot vision per cent of oC the merchants today are mere trailers and only 10 per cent are reat leaders Got Get with one of ot this 10 per cen cent t o Get a Il job In your our hom town Next to your our mother molher owe more to your our homo than to anything else Dont slay In your home town just tJ gel gelan an education and then beat It to some other town or eit Dont Don't kick down the ladder by which you climb up Distant ClEd always look the s but t they ey arc really no greene than where you ou are arc Dont Don't wast the 5 or 20 years of ot your our lite spent in developing friend friend- friendships friendships ships by later going to a stran e llly where you ou know no one Slay in your homo lloma fown lown and help build It up lip It If will Viii by building you up also Business by the thc now stands at 8 per cent normal Copyright 1927 Publishers Financial 11 Bureau u |