Middlebury register. (Middlebury, Vt.) 1886-1937, 1889-08-30
SELLING GOODS ON TIME.
THE PLAN IN OPERATION IN LARGE
NEW YORK HOUSES.

vestigated While You Wait-A Bureau
of Information.
1t will be something new to the public
generally to be informed that the biggest
dry goods houses sell goods on the credit
plan now. The fact that furniture and
household utensils can be bought on
credit is something that everybody
knows, but that the great dry goods
firms, who have hundreds of thousands
of dollars invested and that depend to a
great extent on quick sales for profits do
the same thing, is by no means gener-
ally known.
A News reporter had his interest
aroused recently in this phase of the dry
goods business while visiting a lady
whose husband is in the receipt of a
moderate income, payable quarterly.
"Quite convenient, is it notT' was her
remark, as she unfolded a lot of silks,
cashmeres and other dress goods. She
explained in a very few words that she
bought all such goods on credit and that
she considered it quite an accommoda-
ton to be able to do so.
II don't patronize one store exclu-
sively," she continued. II buy in nearly
all of them, and my credit is as good in
one as it is in another"
THE SYSTEM PROFITABLE.
In making inquiries subsequently
among dry goods men, the reporter found
that the credit system practiced by the
big houses was reduced to SO nearly a
perfect science that the losses in conse-
quence of selling goods on this plan were
comparatively trihing. The dealers are
helped to considerable extent by an
uptown retail commercial agency, which
devotes itself almost exclusively to in
vestigating people for the dry goods
trade and its several branches, including
dressmaking, if that industry can be
placed in the same category, For a GER
tain sum the agency puts the dealer in
possession of a book, renewed yearly,
containing the names of thousands of
persons in this city and the suburbs, Civ
ing the rating of each as made by its re-
porters from various sources
The last edition of the book has 10000
names of heads of families in this city,
Brooklyn, Jersey City, Yonkers, Newark,
Paterson, Staten Island and other places
convenient to the metropolis. The agency
agrees to give free with the books special
reports to the number of 200 when called
upon.
''Do we give credit" Mr.. Louis Stern
repeated rather in surprise, when The
News reporter preached the subject tc
him.
Certainly, we give credit" he said
And we are only too glad to have the
custom. Every big house has to do it."
THE credit system must be profitable
them
Certainly it is, or we should require
cash."
How do you guard against dishon
, esty?"
"In various ways. A lady whom W,
do not know comes here, selects good
and asks us to charge them. We ask TO
references and put pertinent questions
and the lady goes away satisfied that i
her references are all right she will re
ceive the goods on the following day
We are helped to some extent by tn
agency, but we do not depend on tina
altogether. We have means of our owl
, for finding out whether credit or no
ought to be given and we act according
ly. Our losses are hardly worth speak
ing about"
LIGHTNING INQUIRIES.
The system has been reduced to sue
perfection that, while new customer
telling the superintendent or head Of
firm about herself or her references, tn
house will have obtained her whole pee
igree from a business standpoint with
out her knowledge, and before she leave
, the store.
A Mrs. Moneypenny, for instance, come
e to store Il want my goods charged,
: she says to the superintendent or
$ member of the firm. She explains tha
I her husband is in Philadelphia or som,
= where else, and that she has found hel
u self unexpectedly short. Her name
;, all in such a case that Is actually r,
+ quired to determine whether Mrs. Nor
eypenny, whose name does not appea
o upon the agencys book. is worthy {
e credit or not While she is talking
3 swift footed messenger or perhaps tt
>. telephone, is put into play, and within
- lew IulHuUeS III Uer AlIS. money penny III
e announced herself an employee of tt
/ agency is hustling around all the DIR
y goods stores to find out if Mrs. None,
. penny is known in any Of them.
II If she is known and her record is ba
l. she gets no credit. The result is I'll
d same If she Is not known. The refus'
Il is conveyed with as much Difference an
/ politeness as possible and she takes hi
l. departure entirely unconscious of IL
j. fact that while she was talking in IL
&c store her history and standing wei
:, being thoroughly inquired into. AS
" general thing, when the party applyir
for credit is not known, definite a.
swer is not given. The customer is To-
that Mr.. So-and-So is not in and TIL
when he comes the question will be Sc
tied whether she shall have the goods
not In some cases there is no circur
locution and the customer is frankly i
formed that inquiries will have to
7e made in regard to her references.
in "In consequence of the general cred