The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1895-03-13
AN EXPERT ON CREDIT.
lie NJ Akes $4,000 q Year by Giving Ad'
vice to Four Big Firms.

AN EXPERT ON CREDIT.
He NJ axes $4,000 a Year by Giving Ad.
vice to Four Big Firms.
A we'll dressed, sharp eyed man
entered the office of one of the big
gest jobbing houses in New York the
other day and said to the head of
the firm, man worth many mill
lions:
MFR. -, I want to got a report
on the credit of John Jones of Wau-
kegan.
The merchant touched a button
which summoned the chief book
keeper.
II want you" he said, ito allow
Mr.. - to examine our account
with John Jones of Waukegan since
he began trading here.
The visitor went out with the
bookkeepcr, and for an hour there
after was looking over the books
He mado a written statement from
them showing whom and under what
conditions John Jones had opened
his account, the number of times he
had purchased goods, the dates of
shipping and payment and such 9TH
OF details as would appear in the &C.
counts of a mercantile house. Then
he went back to the office of the
head of tho firm and asked some fur.
ther questions about Mr.. Jones,
which the merchant, although very
busy, promptly answered. Finally
he saw tho salesman who had waited
on Jones and had confidential talk
with him, so that whom he left the
store he knew oil that this great
firm could tell about Jones and his
financial standing.
Information of this sort is tho
most difficult to obtain from any
merchant, aud the books of this par
ticular firm are especially hard to
get at. In fact, with the exception
of this one man, no one except men,
bers of the firm and the bookkeeper
ever has access to them, not even
the heads of departments. Tho ex-
PLANTATION of this one outsiders priv
ilege lies in the character of his bust
ness. He is engaged in protecting
four of the leading jobbing houses
of the United States, of which that
referred to is one, from bad debts.
He does this by examining their
books. Each of these firms has about
the same GLASS of customers, although
their business is not identical. He
has q contract with each which al.
lows him to examine its books at any
time. Such examinations he always
makes in person. When tits under
stood that there is hardly merchant
of any standing throughout the
country who does notpurohase from
one of these four firms, it will be
seen that such privilege enables
the person who uses it intelligently
to get a pretty thorough knowledge
of the financial standing and respon-
sibility of nearly everybody who
comes to this market to buy goods.
This. man devotes himself entirely
| to the work that he has undertaken
for these four firms and receives
from them q commission for every
examination he makes. He receives
no other pay. He is never applied tc
by any of the firms until after the
regular commercial agencies have
made their reports and the standing
of the buyer still remains in doubt.
While the rate he charges for exam.
ming an account is very small, his
income is said to average $50, 900 a
year. The firms who employ hin,
consider that what they pay him is
moro than justified. A member Of
one of these firms said tho other day
that he had saved On average OF So,
800 a month for the last year through
the information obtained from thi!
examiner. That is, he would have
sold goods worth that amount t.
, mon who subsequently failed with
out paying anything to their credit
, ors had he not been warned by tn
examiners reports. In all thes'
cases, too, the regular commercial
agencies had reported favorabl.
, upon the persons who had appliet
: for credit. New York Sun.