An example of Mr. Morgan’s integrity of thought occurred in the days when a young firm was getting started in St. Louis, and Mr. Morgan was playing a considerable part in its expansion. One day while one of the partners was talking with a buyer who had come in to look over the stock, the partner was telling the buyer that nowhere else in the city could he get such good prices as here. To emphasize his point he called out, “Isn’t that so, Morgan? Won’t he get the best prices in town right here?”
Mr. Morgan paused for a second and then said, “No, I don’t think so. I think he can get material at much the same prices elsewhere, but I do know that he would get a better selection here.” The man walked out of the store, and the executive was harsh in his condemnation of what he considered Mr. Morgan’s poor salesmanship.
Mr. Morgan replied, “We aren’t going to build business that way. We know our good points. Let’s stand on them, and not try to sell on a basis which isn’t true.
“Well, anyway, you lost that customer, “was the retort. But the next day morning the man came back, and asked for Mr. Morgan personally.
“I walked out of here yesterday,” he said, “because I wanted to check on what you’d said. I went to the other houses, and found that what you said is true. I’ve come back to buy. I’ll spend all I intend to spend right here, but with you, not with anybody else.” He placed a large order and remained Mr. Morgan’s steady customer for many years.
Culled from “As the Sowing” (page 26)