PLAN No. 571. A “TRADE-TIP” BUREAU
A Minneapolis man made money by organizing what he called a “trade-tip bureau,” which consisted entirely of himself.
He contracted with 100 manufacturers, merchants and others to keep them fully informed with reference to all matters arising within a radius of 200 miles of his home city, and information which might prove beneficial to them, at so much from each firm per year.
He then subscribed for all the newspapers in the territory named, and read them carefully. Whenever he found an item that would be of interest to any of his clients, he would promptly inform that particular person of the fact, and in most cases the information thus supplied led to an opportunity for making a good profit. He usually sent a little note with each bunch of information, commenting on its possible use in their business. When a threshing machine was destroyed, he informed the manufacturer of threshing machines. If a firm in an outside town failed, he reported it to the local firm that bought bankrupt stocks. If a mining operator visited the city, he tipped off the hardware dealer who had powder to sell.
These are examples of the various services he rendered his patrons, and they were so highly pleased with the results that they continued to renew their contracts with him from year to year. His present income is more than $4,000 per annum.