£46 THE MODEL STOCK PLAN 
a chance to buy these goods at low figures. We must bear in 
mind continuously that the oftener we change our stocks the 
better we can satisfy a majority of customers with relatively 
small stocks. We must hold ourselves ready to take advan- 
tage of emergencies. I remember dozens of times when great 
quantities of good merchandise were thrown on the market 
at a decided sacrifice. Sometimes a mill failure brings 
unexpected offerings. Once, I recall, a mill suddenly sacri- 
ficed $1,000,000 worth of goods on the market at about the 
last minute of the season. The better we are prepared to 
take advantage of such unexpected happenings the lower 
will be the prices we can offer to customers. 
Low prices—assuming, as we must, that the style and 
quality of our merchandise are at least equal to those of 
competitors’ goods—are, we have already seen, the determin- 
ing factor in building goodwill. And goodwill, more than 
any of the tangible assets, is what determines whether our 
business will earn for us the greatest total profits. A careful 
study and use of the buying-calendar principles will help us 
greatly to make low prices profitable and increase our sales 
and total profits.