The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1868-09-05
The Merchants Protective UR-
ion. ..

RATINGS AS TO STANDING AND
CREDIT.-It is generally known that
there are in the city of New York
establishments styling themselves 'In-
stitutions," Commercial Agencies"
or Mercantile Agencies" which are
supposed to have great Influence and
actual power in producing or preju-
dicing the standing and credit of
business men throughout the Union,
Having their own secret agents in
nearly every city, town, village, and
at almost every cross road in the
length and breadth of the whole land
these concerns have become interWO-
ven with the whole mercantile sys.
tenn of the country. Every merchant,
trader, manufacturer, and banker,
t whether likely or not to make pur"
chases on time or to ask for credit in
any of the principal cities, is fully re-
ported at their headquarters-his
business, means, "respectability," and
standing are published, and even his
private habits are detailed and open
to the iniquity of their customers
l So complete and thorough o system
of espionage as these concerns have
everywhere extended, is probably unN
! known even to the police departments
of France or Austria.
So long as business shall continue
to be done upon the credit system
establishments of this nature vii
probably continue to exist, in som,
form or another; but the mode il
(which they have been conducted
namely, by printing Books of Reports
in which tens of thousands Of busi
ness men are denoted by a dash =
or an astorisk an interrogation
point ri, or some similar mark, sig
uifying that the party so indicated
not recommended for credit, " or tina
the customer should "enquire at tn
Office must, in view Of recent dc
cisions iu the slander and libel suit
be materially modified.
Those Establishments with thei
numerous clerks, standing behind Ion
=. rows of desks, on which lie ponderoU
40 volumes wherein can be learned
story whether true or false, of ever
10 merchant in any part of the countr
oo whatever, will probably modify thei
to business, or pass away-the liabilit.
in view Of recent decisions to sland'
ry. suits arising out of their operation
being too heavy TO incur.
In the Mercantile Agency case
Beardsley against Tappan, the plail
mu. tiff recovered ten thousand dollar
''s' and upon a motion for a new trii
e. made before the United States Ci
I, cult Court for the Southern Distri
\ of New York, the Hon. Samuel Ne
son, one of the ablest Justices Of t
Supreme Court has delivered an opi
ION denying the motion, holding IL
Co. the publicity given to information
nta5 ,[oSi predatory Of the standing and CHI
Nm. acter Of merchants, "by recording
out lbelous words in a book, depriN
|, the the communication of it's otherw
r. privileged character" He was #
ther of opinion that "to legalize th'
establishments in the manner and
the extent used by the defendant,
a,bo placing one portion of the mercant
e to community under an organized s
cling TEN Of espionage and inqusition
,ti iar' the benefit Of the other, exposed fl
the very nature Of the organizati
or, to perversion and abuse.
With the viewof Obyiating the
RY iectionable features of the former
TENS, company, with capital st
of $500 600, divided into $40 sha
has been organized and incorport
under the laws of the State of
York, under the title Of '"The \
chants Protective Union," on /
,ootf which seems to be free from the
- difficulties and embarrassments VI
which those heretofore in exist
have labored.
T.oas !, A. The plan adopted by the Merchi
Protective Union, though anala
oar bo- IN some particulars to that Of thu
\ ialo, 70. adjustments above referred to
On n ti tbe differs in such material respects al
cause to be amenable to the objections U
Daniel :a44l II, tbo main noints nj
cd for aSalusO .uclh' W.
Of said ference beng the folloWlng
irs and H. Am necessary informati
~ to the pecuniary responsibilit
49, fnacial condition and standing OF