The Feed Business Gamble
Local merchant J.J. Bogardus reflects on the high failure rate of Seattle’s feed and grain stores during the economic pressures of the early 1890s.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
Speaking of the small margin of profit in the feed business generally, J. J. Bogardus, the other day, said: 'Out of twenty-five firms in the feed business here not more than three of them have been in business three years or over. Of all those in the business here three years ago but three firms remain, the others have all sold out or gone out of business. Some of those who bought them out have in turn quit the business. This shows that it is not a profitable business, though the farmers think we are all becoming millionaires by buying cheap and selling dear.'
“This shows that it is not a profitable business, though the farmers think we are all becoming millionaires by buying cheap and selling dear.”
This lament about the volatility of small-business profit margins in Seattle echoes the concerns of many shopkeepers today facing rapid commercial real estate changes. It captures the persistent belief that the 'middleman' is thriving, while the business owner struggles to keep the doors open.
From readers
No comments yet. If you know something about this story — a correction, a family memory, a source — it belongs here.