Page 95 - Past Chair Book-Pre 2020

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Personallv, if such a 111111" were possible 1 would very much
advocate and favor the abolishing: of the discount with the pur­
chaser. It is not oniv the loss of the money, but a constant source

of irritation and unpleasantness: hut 1 would say this, that at this
time I do not believe it practicable to take any action because I
believe the local organization must take the initiative. \\ e have
seventeen houses in the Association in Pittsburg, and believe
today, with one exception, every member will faithfully and
without any doubt return every remittance that has been
discounted, and the checks received after mindnighi of the 20th.
We have received in the past week, I venture to say, one hundred
remittances for December invoices, and it amounts to lots of
money.
I do not believe any action can he taken which will cure this,
but I believe a very frank expression will he profitable to us. and

I hope it will be discussed this afternoon.

Mr. M cD ow kll: My experience leads me to believe that a
cash discount can be done away with. We have some big dealers
in Chicago, and last July our treasurer said he thought we had
better stop this cash discount altogether. Some of the manu­
facturers stopped it with us. and one of diem cut it down from two
to one pfr cent. They said it looked like throwing away money,
and so we hilled everything thirty days net. stamp the bills “no
discount will he allowed on this hill for prepayment." We had
two checks sent us for discount for thirty days, one of them the
Mark Manufacturing Company, and they wrote. “Take this check
or you will not get any money." We look it, but we sent them a
notice that that was the last time we would take it, and we have
not received any business from them. I don't know how much
they have bought, hut they were the only two experiences wre had.
The International Harvester did the same thing, and we returned
every check that they sent: now' they pay thirty davs net. no
discount. We do not give the cash discount to anv one. hut wc
always lake advantage of it from the manufacturer.

Mr. P attisox : I was detained in getting back to this
meeting, although set at two o’clock. I met Mr. Price, of Norfolk,
and you all know why I was delayed, i Laughter).