Page 43 - Past Chair Book-Pre 2020

I-'irst Annual Convcniion 47

say that. Let us get twelve and a half, and if we need more I
think we can get it. We must not ask so much as to lose the
two and a half per cent.
We must bring before this committee of the i ool Associa­
tion what this Association wants, and I think that committee
is in position to do as well for us as can be done. If we address
this matter to the convention itself, I am afraid we will not get as
good terms as from the committee. The committee has been
empowered to attend to it, and it has pledged itself to attend to it,
and I think will do it.

M r. S h i p i.e y : A s to that m argin: if I remember correctly
it was twelve and a half per cent over cost, and not on the selling
price, which would make an increase of one and a quarter per
cent over what we have been getting. Therefore, if it is only
one and a quarter, it is not a whole pile, and I think it is worthy
of consideration if we can get more than the one and a quarter.

M r. S t r e i.in ger : I do not believe there is any use in trv-
ing to establish a new method of figuring profits. Our expenses
at the end of the year are figured on the gross sales, and our profits
should be figured that way. I do not believe the matter of twelve
and a half or fifteen per cent should be added.
Most of the tool manufacturers today have dispensed with
the old fashioned thirty, forty and fifty discount, and go 011 the
basis of what is net to the user.
Xow, I would not bring up this question of adding twelve
and a half per cent, but that the dealer should make twelve and
a half or fifteen per cent on the selling price and not 011 the cost
price. I don’t know whether the committee figured in that way,
but I am a little surprised if they have because our expenses go
on the gross sales.
P r e sid e n t S t r o n g : I imagine the committee did not do
the figuring, but it was 011 the other side.

M r, P rentiss : They would not allow us to do the figuring.
M r. C l a r k e : It is 011 the basis of discount, and not on the
basis of profit or commission. I think any papers we present t»
the committee should express the percentage in discount and not