most satisfactory way of doing business, and I seri- 
susly think it is the only sound way to do business.” 
TrEND OF CoMmMmoDITY PRICES A 
CONTROLLING FACTOR 
Mr. Harry L. Jones, chairman of the 
board of Jones Brothers Tea Company, Inc., 
advises as follows: 
*As you know, we are in the grocery business and 
chat the trend of the commodities in our business has 
seen downward. That is the large reason we have 
heen buying from ‘hand-to-mouth.” Each successive 
surchase invariably is made at either the same or a 
ower price than the previous one. Should this situ- 
ation change, and the trend turn upwards we would 
again revert to the old policy of anticipating our re- 
Juirements. 
“We have become accustomed to the many ad- 
vantages of low inventories and rapid turnover, and 
we like it. The position in any particular com- 
modity would have to be particularly bullish to 
empt us to anticipate our requirements beyond a 
‘hirty-day period.” 
ARTICLES OF WEARING APPAREL 
As SHOE MANUFACTURERS VIEW 
THE PROBLEM 
Mr. Jackson JomnNsoN, chairman of the 
ooard of the International Shoe Compary of 
St. Louis, Mo., writes as follows: 
“Under the new condition of buying, . asiness 
such as this company has transacted in the past has 
seen seriously interfered with. 
“We have taken pride in being able to say, that 
though we operate forty-odd shoe factories, no fac 
tory has ever been necessary to close for a thirty- 
day period for the want of business in more than 
-wenty-five years. We have endeavored, by run- 
ning our factories in a uniform way, to reduce the 
xst of our merchandise and by selling it on a close 
margin to popularize our goods. 
“The style feature that has been injected into 
the shoe business has had a serious effect on fac 
‘ories producing women's shoes of the so-called nov- 
Jlty styles. Heretofore, we have always made 
merchandise for stock and before the samples were 
out in the hands of the salesman we had accumu- 
fated the stock so that we could make deliveries 
sromptly on receipt of orders. We have endeav- 
yred to continue this plan of operation. However, 
on account of the rapid change in styles we have 
often had to take a severe loss on merchandise that 
did not move freely. 
“One other feature that is hard to contend with 
s that a shoe may sell very freely up to a certain 
date, then instead of the decline in sales being grad- 
1al they drop perpendicular so that we were unable 
n any way to contemplate such a radical change in 
lemand and have often been left with an accumu- 
ated stock of the most popular sellers. In fact, it is 
‘he case that small volume sellers have been the 
shoes on which we have not suffered any serious 
oss. It bas been on those sold in large volumes 
where sales all at once went to pieces and we were 
eft with a large stock of those shoes on hand. 
“How to overcome this difficulty I am not pre- 
ared to say. We are giving the matter serious 
-onsideration, and if any plan develops by which we 
:an correct this evil in our business I will be more 
han glad to advise you because what applies to this 
:ompany probably applies to practically all of the 
arge manufacturers. Small shoe factories that take 
srders and make up the goods after orders are in 
yand are not handicapped as we are. 
“Necessarily, in order to produce shoes at a low 
~ost we must maintain steady and continued opera- 
tion and how to do it under present conditions I 
Jo not know.” 
Must Learn How T0 PrODUCE 
MercaANDISE MorE QUICKLY 
Mr. Joun A. Bush, the president of the 
Brown Shoe Company, also located in St. 
ouis, believes that the shoe manufacturers 
will have to learn how to produce their mer- 
zhandise more quickly in order to meet pres- 
>nt conditions, and it is his belief that the 
arge manufacturers and merchants are in a 
setter position to carry the stock than the 
small retailers. He advises that: 
“The shoe business more than any other is in just 
he ‘hand-to-mouth’ position you state. It has merged 
‘rom a business in which style was not important 
nto one in which style apparently controls every 
surchase. This is not only the case as regards the 
inished product, but also as regards the raw ma- 
erial. Only recently we decided to anticipate our 
wants for a few months on a certain leather as it 
was then low in price and would be very bard to 
ret when the demand reached us thirty to sixty days 
ater. The purchase was made after the most care- 
ul consideration. Today we find that particular