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Show General Business Should Take Even Cource In 1928 Oompeti'dcn Will Bring1 Increase In Efficiency Statement by Earl C. Sains, president presi-dent of J. C. Penney Co. "General business during 1928 should continue along about the same lines that it followed during the year just passed. It will be. a good year or such business enterprises as are properly adjusted to the .general economic ec-onomic conditions of today. "Geneiral commodity prices -will undoubtedly be subject to the usual short swings up or down, depending upon local conditions and upon the ( changing phases of industrial and ag- g rieultural activities .governing income ind production. "Any general movement in commodity com-modity prices shou'ld he downward but, theire lis no reason at the present time to believe that there will be any marked lowering of prices. j "The -usual disoussions which .characterize any presidential election yeair will prevail but the economic structure of the country is on such : a well defined basis of economy anc progression that it is unikely that differences bearing on economic activities act-ivities will have any pronounced effect ef-fect on general business. Any differences dif-ferences which miay exist in relation to the present economic standards on the part of political parties are apparently ap-parently too sliight to. be disturbing in their import. "Competition in all lines is increas ing and the effects of this competition competi-tion will be keenly felt during the present year. The margin of profit which may be anticipated by the distributor dis-tributor of general merchandise is growin.g smaller and greater efficiency efficie-ncy is being shown in distribution methods. "In the J. C. Penney Co. we have been studying the elements of working work-ing efficiency in each of the retail store and have been organized all phases of ouir general distribution ' methods down to a point which maintains main-tains the highest standards of economy ec-onomy in handling from the time the merchandise is complete by the man-1 ufactures until it is finally placed in j the hands of the retail buyer. "The percentage set aside for .gross ' profit is, I believe, on a basis which :s eminently fair to .retail customers to competing merchants and to the 1. C. Penney Co. It is a low percen-'n.r:e percen-'n.r:e and yet the operat'ons of the individual J. C. Penney Co. stores has ' shown that it is a percentage which ! will give the company a fair retmrn 1 while affording the buyer a higher value. "It is on such a basis as this that eneral business will have to onan-ze onan-ze itself this year if it is to survive n the competitive con'.itions which ire certain to prevail." |