Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1890-10-29
BUSINESS METHODS.
Importance Of Transacting II In the
Right WAY.

importance OF Irans0cttng it In the
Right Way.
T. PIE Eftor " As Register:
SiR:-Business, as it is conducted at
the present time, is essentially credit
system, and as such, the general char
acter and habits of the merchant desir-
+ ing credit tavors, is of fully as much inn
partance rs his financial worth.
/ IL is within the memory of merchants
still doing business. when the country
merchant visited the large trade CEN
I tres once or twice q year and purchased
his goods direct from the manufacturer
or wholesaler. Then, long credits were
unknown, the purchaser usually having
the ready cash with which TO buy his
stock, and had no desire or necessity TO
ask for time on his purchases.
Now. however, the system is changed.
Commercial travellers penetrate into the
most remote country hamletS, and the
wholesale merchant, To hold his trade,
finds himself compelled 10 grant time
for payment of the bills sold.
Under such conditions, care and
watchfulncSs i'm the dispensing OF cred
It's is the only safeguard against recur-
ring and severe losses, and the faculty of
anticipating failures or business troubles
of any nature cannot be too carefully
cultivated.
During the first five months Of 1890
there were 7.5Sl failures in the United
. States involving an aggregate liability
of SlOO.111. 5000. There are at the
present time l.lOl,54S individual mer-
chants and firms doing business in the
/ Union. The ratio Of failures this year,
up 20 that time. having therefore been,
In round numbers, one TO every one
hundred and forty.
Such being the case, il is important TO
note carefully the causes which lead up
90 business troubles and the first cOndi-
lions which evidence weakness or
crampedueSS in monetary matters.
Recall almost any failure, and it will
be found that almost without exception
the first symptom of trouble visible was
the allowing Of small bills 10 run over
due. II merchant requests indu.-
geuce in petty bills 10 may safely be as
sumed that caution should be- exercised
in handling the account, and should
credit Doe solicited In unusual channels,
there is good ground for apprehension.
With manufacturing or wholesale
concerns doing Il general credit business
throughout the country. il is important
that that they should be thoroughly ac-
quainted with each individuals charac-
trristics. They should know both his
capital and credit.
First and of most Importance is the
debtors reputation, and second TO that
is his capacity for conducting his bust
ness.
Honesty of purpose ana desire 20 do
right. will not atone for a lack of abil-
'ity, nor will mere monetary worth COM
penSatc for carcleSSucsS or inattentiOn
10 business principles. An honest but
Incapable merchant IS more likely to
become embarrassed and embarraSS his
friends than one whose reputation Is
not so good, though his very honesty be-
ing the basis of confidence and depend
lence I'M his intention 10 fulfill engage
ments
Another Important point is In the
matter 90 endorsing. II a merchant be
iu the habit of endorsing for other par
ties. his position is more or less depend
eut ON the ability of the maker of the
paper % retire il at maturity. such Il
merchants clear worth can never be
correctly estimated, for outside of his
own Indebtedness he is liable az any
time 90 become responsible for the fall
ure of other parties 90 meet their obliga-
tionS.
The credit standing of merchant is
answered by reply to the question,
Glow does he pay?'
Take two accounts, Que of a man
worth $4,000 and the other worth
81 900. II the $4,000 man is slow and
careless. allowing his bills TO lay and
run over their time, his account is not so
satisfactory as the man with $1,000 cap
ital. If the latter is prompt in his remit
tanccs and careful of his credit, notwith-
standing the superior monetary worth
which the first possesses.
Again. &c the location of "a retail mer-
chant bc o. poor one. IL he be man OF
irregular habits or speculative tendon
cics. his creditors should be informed Of
the fact. III his business Dee too wide
.lv extended. for his capital. If
hc is selling goods at price
which his ncighbor knows he
cannot sell at make an honest profit, ne
should bee regarded with suspicion ana
his account carefully watched, Such
one is always averSe 10 making any
showing of his affairs, while on the
other hand a man of correct habits,
meeting his engagements punctually,
with his business well in hand and man
aged iu q manner % correspond with
his capital, has seldom any disposition
90 hide the facts.
Who're there is nothing 20 conceal,
concealment will not bc attempted. The
disposition % take for granted that all
|are prosperous and safe for credit, is a
/ fatal error. and the necessity for de-
tailed and specific information in regard
I 90 every applicant for credit is evident
/ No degree of progress will make safe
those who lack business capacity or
/ whose characters make them unworthy
/ of accommodation.
W y. W,LSoS,
Nor T. a. nuu 4 Ca