The citizen. (Frederick City, Md.) 1895-1923, 1900-01-26
UP TO THE MINUTE
TRIALS OF A NEW YORK cREo'-
MAN.

Tricks Some Per,ons Use to Defraud
Big Stores and Measures Taken for
Their Preventien-People Who May
Be Trusted-References
Up to date is not enough for the cred
1t man OF big New York department
store. He must be up to the IN mute.
The tricks that were tried on him an
hour ago are ancient history. pigeon
holed in his memory. His business
at the present moment Is with the
trick which the latest seeker after
credit may be trying to play on him.
He must be careful not to drive away
a good customer whom IL is safe to
trust. and he must be equally, or more,
careful not to give credit to one who
cannot or will not pay. His employers
do not accept any excuses. He must
not say that he did not know nj out
So-and-So's financial condition. 1t Is
his business to know. His value 10 his
house depends on the amount of cred
1t he grants and the small per cent of
loss which comes of it. There is ALSO
lutely no sentiment about the matter.
Suppose a man whom you knew to
be perfectly honorable. but in tempo
rary straits, should ask you for Gre d.
itT' This was the question | put to
the credit man of the depar ment store
doing the largest credit business in
New York.
He would not get it." was the an
swer. "Intention does not count for
much. Ability to pay is the thing"
Last year this store lost barely one
half Of one per cent. of the credits it
extended.
The credit methods of the several
large stores in New York are substan-
TALLY alike, the only essential differ
ence being in the degree of skill with
which the various credit men deny
people without offending them. First,
there is the Retail Dealers Protective
Association. composed of most of the
New York retailers who do any credit
business. For the benefit of its mem
bers this association issues from time
TO time n book of ratings of habitual
credit seekers. The latest book con-
tains more than thirty-two thousand
names, the ratings being based uuon
actual dealings with members. The as
ISOLATION also makes special inv e, iga-
tons for its members and undertake, 8
the collection of accounts.
Surplementing this. each large store
has system of cards. on which a.e
written the standing of every nown
New Yorker who is at all likely to TX
for credit. For instance, a white card
"a o4n. 1,At H.
II bears is worthy of credit Memoran-
da of the extent of his credit ana Of
any facts concerning him are recorded
there. Should future information show
that he is slow in his payments, lis
name is transferred to a red card, and
the reasons recorded there. Should he
at last turn out to he unworthy Of
credit, his name is placed on blu
card, and he is stopped from getting
anything save for spot cash.
The credit mans assistants are con
stantly ut work on these cards. ri ey
study MI the daily news ~ ers and ev-
cry other source of pos ;.blp informa
ton concerning the financial condition
OF New Workers. A birth may mean
that the parents have an add Il ey-
pense, which makes it the harder for
them to pay their way. \ death may
have lesSened the earning power of n
FAMILY a marriage or divorce may
either increase or diminish mans
or woman'S financial sponSibility. ac-
cording to the circUm tanceS Of il
If judgments ar entered. if mort
cages are given, If any ind Of trouble
comes to anybody whose name is card
ed in the credit department.. note is
made of 1t.
But the shrewdness of the credit
man is most called into play when he
has to deal with persons of whom he
has no record aud tn Sc come by
scores every week.
MY first impressions are always
best" said one of these keen men to
me. 1.-The first time | see a person
am on guard with all my faculties. The
next time ] may be influenced by some
little thing which would have made no
impression at first. | don't believe |
ever changed my first impression that
l did not make mistake one way or
the other: and it is as bad for me to
refuse credit to a worthy person as to
give it 10 an unworthy one.
I'VE don't care much for bank ref
erences," he added "They are ant 10
be too sangulne. / know that bankers
are often loose in their recommends
tons, so | set the Retail Dealers Pro
tective Association to making special
investigations. They often find that
lnrg" properties are more than covered
by mortgages, that unsatsfied judg-
uents stand against very well recon-
mcDded names. References are neces.
sary of course, but we have to take
them with many a grain of salt"
we divide people into three general
classes. For example, the recommen-
dations of public men are seldom of
any value. A politician will usually
recommend anybody who has Il vote
or can influence one. And as to clergy
men, their synpathies get away with
their judgment. The woman who
comes with the recommendation of her
pastor is pretty sure to be disappoint
ed"
"What general class do you regard
as the safest risk"
"Army and navy people can have all
the credit they wish and no questions
asked. The standard of business mo.
rality i'll the army and navy is Positive
assurance that we will get our mon
ey."
There are about one hundred Bibles
y.ondarad ,ara oY,d o,,,.;o,,e H.