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part of which are payable June 30th of this year, and about $34,000 owing to creditors.
Assets of the concern, the bill stated, consist of valuable patents, plant equipment worth about $650,000 and materials worth about $300,000.
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BALTIMORE STATION EXECUTIVE ADVOCATES HOUSE CLEANING
"Unfortunately, many radio stations are not operated by men who understand advertising or merchandising", the National Assoc¬ iation of Broadcasters' session of the American Federation Advertis¬ ing convention in New York was told by J. Thomas Lyons, Executive Vice-President of the Monumental Radio Company, Baltimore.
"The radio situation today reminds me of the moving picture industry about 30 years ago when things were chaotic. In fact, many radio stations do not appear to be conscious of the wonderful asset they have, and they do not put a sufficient value upon it.
"For that reason, you will find radio stations cutting rates to get business letting the advertiser dictate the policy and terms, and I recently received a letter from an insurance company in the West saying that 170 stations were handling their business on a basis by which the station received so much per sale. This is a destructive condition, because unless a station is built on a real foundation, it will never get anywhere.
"I am quite convinced that every station must see the handwriting on the wall, and clean house to the point where its rates will be the same to everybody that there will be no trade deals, that when an agency tries to tear down ethics, the station will not deal with that particular account. Furthermore, the amount of business that can be handled by a radio station is, necessarily, limited. For that reason, a station should deal only with those people who want to operate in the right way, and it is well worth while to cultivate a clientele of this sort, and when this is done in a sincere manner you generally get what you deserve.
"Radio could step in now and render sincere constructive help to the retailers. I do not believe in strong-arm salesmanship.
I do believe in intelligent solicitation, and the only way that we can develop our business is to make the people who deal with us more prosperous because of our relationship. For this reason, every radio station should have on its staff at least one man who knows something about retailing and merchandising.
"Radio still has some racketeers every line of business has them for that matter, but they will be ruined by their own efforts in time. We should realize that our success depends absolutely on the success of the advertiser, and unless the adver¬ tiser gets results through our station, we cannot stay in business. "
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