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First Annual Conz'cntim 97

sav that a certain discount shall be the limit, and it may he allowed
in some cases and not in others, but it is hardly proper to say
that there shall be no discount. If it is two per cent I think it a

good idea to sav in no case more than two per cent. 1hat will
govern our price, and we know what quotations will be in every
way.
Mr. McI i.vaixK : 1 agree with Mr. Bradley to a great extent
as to the fact that it is not likely we can agree on any plan or take
any concerted action on the cash discount, but I do believe that a
discussion of that will be profitable to us all. It is a matter in which
I have taken a great deal of interest of late owing to the fact that
the cash discount has been abused in Pittsburg and surrounding
territory to a greater extent than anv other part of the country.
That has come about because a great many of the purchasing
agents of the Lnited States Steel Corporation are located there.
A few years ago the terms were two per cent ten days, and then it
was extended to fifteen, and it is now twenty in a great many
cases, and in other cases tliev demand discount at the thirty dav
limit, or in a full month after the date of the invoice.
In fact, some of the companies, such as the Westinghouse
Corporation, insist upon you giving them a written agreement to
accept their terms, or they will not give you their business.
This came up before the Association, and we were more
afraid of that proposition than anything we ever attacked, because
we were practically at a loss to take any concerted action owing
to the fact that these large corporations had combined and had
taken the ground regarding the date of discount.
After the thing had gone on for a considerable time, and was
discussed from week to week, we concluded we would make an
attempt, and the committee was appointed.
As illustrative of the large buyers, you know that Jones &
Lockwood insist on discounting everything you sell in the supply
business.
Another peculiar attitude that some of the companies took,

the Carnegie Steel Company sent us a batch of invoices, not
amounting to much, and asked us to receipt them less the discount
of two ju»r cent, they having credited our account with it inasmuch
as we had paid them twelve davs before this check was received.