Little Visits with Great Americans, Vol. 2 (of 2): Or Success, Ideals and How to Attain Them
History
Little Visits with Great Americans, Vol. 2 (of 2): Or Success, Ideals and How to Attain Them
Success; United States -- Biography; United States -- History -- 19th century -- Biography
He felt, however, that there were no chances in Ireland for the degree
of success of which he dreamed. The potato famine and other misfortunes
had laid the country prostrate. Everybody was talking about the golden
prospects in America, and great numbers were emigrating to the promised
land. One of Timothy Eaton’s elder brothers decided to join the exodus,
and Timothy himself lost no time in making up his mind to go with him.
After crossing the Atlantic they made their way to the town of St.
Marys, in Ontario, and there started a very small store, being glad to
accept produce in payment for their goods. Another brother came to St.
Marys. One of these remained there permanently, while Timothy Eaton,
not satisfied with the possibilities in St. Marys of the mercantile
expansion which he had in mind, went to Toronto, and started a modest
store on one of the lower streets. This was in 1869. In 1883 he had
a larger establishment. In 1887 he had added to his general store
equipment a small factory for the purpose of eliminating the charges of
middlemen and thus conserving the interests of his customers by reduced
prices. The factory was an unqualified success. By means of it, and
through Mr. Eaton’s general methods, the establishment steadily grew
until, at the present time, he has a store which from a comparative
point of view may be regarded, perhaps, as the most successful in the
world. Mr. Eaton’s pay roll includes nearly six thousand names, while
the largest retail store on earth, which is located in Chicago, where
the population is many times greater than that which can be reached by
Mr. Eaton, employs only about twenty-five hundred more persons. It will
be seen that this Chicago establishment is only one-half larger than
the Eaton store. Indeed, the factories of the latter are larger than
those of any establishment which deals directly with retail buyers.
The two leading elements in Mr. Eaton’s remarkable success have been
his store-system, regarded by leading retail merchants as a model, and
his constant endeavor to save money for his customers. It is to this
end that he conducts his business on a cash basis, and that he has
established his factories. He is a very firm believer in bringing goods
direct from the maker to the consumer. In a single department in his
manufacturing section, for instance, there are over a thousand sewing
machines which produce nearly seven thousand garments a day for sale
exclusively in the store. The money which Mr. Eaton has been able to
save by this policy of producing his own goods is directly applied to
the reduction of prices. The fact that his patrons feel that they are
obtaining maximum value at minimum cost is the chief reason of the
store’s great and constantly growing trade.
Public-domain text, read in full here on John Shaqi.
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