Word: shoeing
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Dates: during 1930-1939
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...James Franklin Jarman was making $35,000 a year in Nashville's J. W. Carter Shoe Co., which belonged to his cousins. According to legend, 52-year-old Shoeman Jarman, a Baptist deacon, felt unchristian making so much money and also found the Carters, though good folk, not devout enough. One day he went alone to Franklin, a tiny town 18 miles south of Nashville, rented a hotel room. All day long, Bible in hand, he communed with the Almighty. When he emerged he was convinced that it was God's will that he form his own shoe...
Five years later he did so. Today, Jarman Shoe Co., its name changed to General Shoe Corp., turns out 30,000 pairs of shoes a day, is the fifth largest U. S. shoe manufacturer. Last week a syndicate headed by Smith, Barney & Co. offered 150,000 shares of General Shoe preparatory to listing on the New York Stock Exchange; impressed by the company's record and prospects, investors promptly bid up the new shares to a small premium...
...General Shoe s success story contains no compromise with Founder Jarman's original high principles. Nevertheless, James Franklin Jarman left an estate of $3,500,000 when he died last August. Two-thirds of his money went to the Jarman Foundation, whose objectives are aiding Bible institutes, Fundamentalist orphanages and missionaries. Management of the company went to his son, Walton Maxey Jarman, president for the past five years...
...Baptist deacon like his father. He neither smokes nor drinks, begins every stockholders' meeting with prayer, fills his annual report with remarks like: "We believe that to be successful we must build on a foundation of Character." He has also filled his annual reports with solid figures. General Shoe now has 40 retail outlets from coast to coast selling shoes in the $3 to $7.50 class. Its fiscal 1938 earnings were $647,670.15, or $1.27 per share. Current orders are the largest in its history...
...General Shoe's best customer is Maxey Jarman himself: he breaks in a new pair of shoes every week...