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I'irst .Annual LoiKYntit'ii 6*)

the cost price. It is too deceptive. W e never allow it on the part
of our salesmen, or any one connected with the business. If they
sav thev have made one hundred per cent, we tell them there is
110 such thing. They say if a thing costs fifty cents and they sell
it for one dollar that thev make fifty per cent. I venture to sav
ninety-five per cent of the salesmen would take issue with me.
It should be from the selling price every time.

M r. M a r s h a l l : I believe the reason that was written in
Cincinnati in that way. is, that it is a misprint. It has been the
custom for vears to figure 011 the selling price.
M r. M cI ntosh : That shows the necessity of making it
very strong. I was talking with one of the largest wholesale
jobbing houses in the United States, with the proprietor, and I
was surprised to see him figuring his profits on the cost price. I
took it up with him at the time and called him down : he said he
always did it. It is a matter of education. If all the members
of the Association are not figuring their profits in this way. let
us educate them to do it.

M r. P r e n t is s: It seems to me we can bring that out in the
report of this Committee that this Association feels we should get
a commission of fifteen per cent, and that twelve and a half per
cent on the cost is not right: that the Association feels the manu­
facturers should at least give us twelve and a half per cent on the
selling price. We can emphasize that in the resolution, and ask
them to make that seemingly small concession.

P resident S t ro n g: I am under the impression that they
will, front what I heard of the meeting in New York. I think
that matter is in the hands of the very best men you can put it
with.

M r. F arouii ar : I think this is a subject which has heen
before us a number of times, and that we have all had time to
consider it. 1 think most all the gentlemen have found among
their salesmen that they would begin to figure how much thev
would make 011 the cost price. 1 think it should be the sense of
this organization that the discount should be understood 011 all
occasions.