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It was a neat trick, one that helped spread the word that Walgreen s store was a cut above the competition Walgreen s ability to provide such efficient service while forming friendships with his customers quickly established his place as the new standard-bearer in the neighborhood As Goethe, the nineteenth-century German philosopher, promised, once Walgreen committed himself, fortune started working on his behalf; and Walgreen took full advantage of the opportunities presented to him One day, for example, a cooking pan salesman walked in to ask where he could find a good hardware store It seems that one of his regular customers had just backed out of a 300-pan purchase, and he had to unload them Walgreen remembered his wife s delight with her aluminum kitchenware, so he figured he might be able to sell them to other women in his drugstore better than the salesman could to the men at the hardware store They agreed on a price, and Walgreen went to work setting them up on a table in the middle of the store At 15 cents each, the handsome pans went fast, earning Walgreen a tidy profit and more customers The successful gambit encouraged him to take more chances in the future to expand his merchandise selection and marketing methods The Walgreens were able to make their final payment on the store loan to Mr Blood in early 1907 Decades later, Myrtle still remembered the night her hard-working husband came home, late as usual, but this time proudly waving the final check He put it in an envelope addressed to Blood, and the two strolled to the mailbox, the Kogans wrote Walgreen pulled down the [mailbox] flap His smiling wife inserted the envelope, and he kissed her soundly On the walk home, they talked of what they would do with the extra money now that no more monthly payments needed to be made One of these days, Charles said, I ll buy you a fur coat, Myrtle 73 The same year, the Walgreens bought their first store outright William Valentine, Walgreen s old boss, told him he planned to sell his bigger store at Cottage Grove and 39th the same store Walgreen left after he returned from Cuba because it was too busy and hectic to accomodate his convalescence and move back to Terre Haute, Indiana, to buy a com-
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pany that made clocks Valentine asked $15,000 for the store, 150 percent more than Walgreen paid for his first store Walgreen protested that he simply didn t have that kind of money Charlie, you were the best clerk I ever had, Valentine replied, no doubt enhancing his memory of Walgreen in light of his recent success And I really want you to have that store Think it over 74 Walgreen had finally reached the point of no return He could continue dabbling in this or that, looking for a quick hit or a way out of the pharmacy business, or he could decide that his future was in pharmacy and make a run of it To make a down payment on a second drugstore, Charles Jr said, Dad had to sell a half-interest in his first store His friends advised against it Chicago has too many drugstores already, they warned And Dad said, Chicago may have too many drugstores, but it hasn t enough Walgreens drugstores 75 Walgreen s resolve was firm He now realized more firmly than ever that the time had come for him to move ahead in the drugstore business, the Kogans wrote He had no wish, as he would say again and again in later years, to drift along with a single store and continue to engage himself in outside business endeavors 76 Walgreen signed another loan in 1909 to buy Valentine s store Because it stretched his finances so far, however, he could only wangle the deal with the help of Arthur C Thorsen, a former colleague and now a pharmacist at the Armour Company pharmaceutical products plant Thorsen agreed to buy half of Walgreen s first store Walgreen took this money, plus some savings, to cover the down payment on Valentine s store The two partners agreed that Thorsen would manage the first store, which was incorporated under the name Walgreen-Thorsen, and Walgreen would own and operate the second himself, under the title C R Walgreen & Company No one not even Walgreen himself could have realized it at the time, but a chain had been born, a chain that would become the greatest in drugstore history77
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