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EVENING -EDGEB-PHILADELPHIA. WEDNESDAY, MARCH 17, 1916:
2e Banker and Advertising
Our recent advertisement in these columns,
entitled "Are the Banks to lame?" drew forth a
considerable amount of interesting correspondence.
The advertisement mentioned three great Phil
adelphia bankers who financed the Government in
time of war Morris in the Revolution, Clark in the
Mexican, and Cooke in the Civil War the latter
having been the originator of the first national ad
vertising campaign. Our attention is called to the
fact that we omitted to mention Stephen Girard,
who financed the war of 1812.
In the advertisement, we stated our belief that
bankers should make more of an effort to familiarize
themselves with national advertising as an invest
ment, as an integral part of selling, and therefore a
legitimate basis for extending credit to able manu
facturers. The following quotations from a letter from a
Philadelphia manufacturer are of interest in this
connection:
The Curtis-Publishing Company,
Philadelphia.
Gentlemen:
The advertisement in today's Ledger
interested me, and I am glad that it was
printed. This concern has been fairly
1 prosperous for a good many years with
practically no capital invested in the busi
ness, has never borrowed a dollar from a
bank in its entire career and has always
had money in bank sometimes not as
much as .we would have liked to have had,
but still it was money.
About three months ago we wanted
some money for advertising purposes, and I
went to a bank and told them I would
carry a balance there, guaranteeing to
maintain at all times not less than $1000
deposit, if they would lend us $3000. I was
asked what I intended to do with the
money, and I told them I intended to spend
it for advertising a new product. The
dignity of the officer must have been very
much hurt. He knew nothing about adver
tising, probably had no commercial expe
rience, and to my mind was a poor banker,
because he declined the loan, notwithstand
ing the fact that the indorsers represented
not less than $150,000. Pretty good security,
don't you think, for a $3000 sum to be
invested in a profitable business.
I have always been led to believe that
banks were in business to lend money, and
if they don't lend money on such security
as we offered them, what will they lend
money on?
Oh! I nearly forgot to tell you that I
started my proposition without this bank's
money, and it is proving a success.
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We have also abetter from the credit man of a
Philadelphia bank, stating that the banks are not to
blame for lack of advertising enterprise in Philadel
phia, and that advertising is not a purpose for which
loans should be made. He requests that his letter
shall not be published, but our reply to him may be
of some interest.
We thank you sincerely for your letter
of the 8th.
At this time we would simply urge
you to read the copy of "Selling Forces"
(our book on advertising which was sent
to him) carefully and with an open mind.
After you have read it, we would like very
much to have one of our representatives
call on you and discuss some of the
questions which you raise in your letter.
We believe that you will have a different
point of view then, and some of the
questions which you raise will answer
themselves.
All we ask, in fact all that is necessary,
in connection with our advertising in the
Evening Ledger, is that the readers thereof
be open-minded and willing to take the
time and trouble necessary to make an
intelligent study and investigation of the
real value of advertising and its depend
ability as a selling force, and therefore the
legitimacy of loaning business men funds
from the banks for advertising purposes.
There would be no question in your mind
were the funds to be used to pay salesmen
or for well understood methods of promoting
sales, provided the assets of the company
justified such a loan.
THE CURTIS PUBLISHING COMPANY
INDEPENDENCE SQUARE, PHILADELPHIA
We recommend the study of national advertis
ing in these two particulars:
1. As a legitimate, necessary and constructive
selling force.
2. As an investment rather than an expense.
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