Crittenden press. [volume] (Marion, Ky.) 1879-1907, 1900-03-15
UP TO THE MINUTE
TRIALS OF A NEW YORK CREDIT
MAN.
Tricks Some Persons Use to Defraud
Big Stores and Measures Taken for
Their Prevention-People Who May
Be Observation-Disclosures

Be Trusted-References
Up to date is not en- ugh for the cred
1t man Of big New York department
store. He must be up to the minute.
The tricks that were tried on him an
hour ago are ancient history. pigeon
holed in his memory. His business
mt 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 It 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 about
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 1t. There Is abso-
lutely no sentiment about the matter.
suppose man whom you knew to
be perfectly honorable, but in tempo
rary straits should ask you for cred
itT' This was the question / put to
the credit man of the department sore
uOihk lht NlGulN III
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 1t
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 it's men,
beers this association issues from time
to time book of ratings OF habitual
credit seekers. The latest book con-
tains more than thirty-twO thOus md
names, the ratings being lased upon
actual dealings with members. The as
sociation also makes special lnvestlga.
lions for its members and undertakes
the collection of accounts.
Sunplementing this, each large store
has system of cards, on which are
written the standing of every known
New Yorker who is at all likely to ask
for credit. For instance, a white card
indicates that the person whcsc name
1t bears is worthy of credit McmOran-
da Of the extent Of his credit and of
any facts concerning him are recorded
there. Should future information show
that he Is slow In his payments, his
name Is transferred to a red card and
the reasons recorded there Should he
at last turn out to be unwol thy OF
credit, his name is placed on a b.ue
card, and he is stopped from getting
anything save for spot cash.
The credit mans assistants are con-
stnntly at work on these cards. They |
study all the daily n, wspapers and ev- |
cry other source Of possible lnforma
ton concerning tho financial condition
OF New Workers. A birth may mean
that the parents have an added ex-
pense, which makes 1t the harder for |
them TO pay their way. A death may |
have lessened the earning power Of Il |
family. A marriage or divorce may |
either Increase or diminish mans |
or wonan's financial responsibility, ac-
cording to the circumstances Of il.
II judgments are entered, IL mort.
Cages are given. II any kind of trouble
comes to anybody whose name Is card. |
ell In the credit department, note is
made of 1t. H.
But the shrewJness of the credit
nan is most called into play when he
has to deal with persons of whom he
has no record; and these come by |
scores every week.
"My first Impressions are always
best" said one of these keen men to
me. "The first Jimc | see person / I
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. l don't believe I
ever changed my first impression that
] did not make mistake one way or
the other; and 1t Is as bad for me 10
refuse credit to worthy person as to
give 1t to an unworthy one.
I'VE don't care much for bank ref.
erepces." he added. "They are apt to
be too sanguine. know that bankers
are often loose in their recommended
tions, so ! set the Retail Dealers Pro.
tective Association 20 making special
Investigations. They often And that
large properties are more than covered
by mortgages, that dissatisfied judg-
ments stand against very well recon-
mcDded names. References are neces-
sary OF course, but we have 10 take
them with many grain Of salt"
we divide people into three general
classes. For example, the recommen-
dntions OF public men are seldom of
any value. A politician viii usually
anybody who has a vote
pr can influence Que. And as to clergy.
men. their sympathies get away with
their Judgment. The woman who
comes with the recommendation of her
pastor Is pretty sure to be disappoint.
3D."
"What general class do you regard
40 tho safest risk"
Army and navy people can have all
the credit they wish and no questions !
asked. The standard of business mo-
rallty In the army and navy is positive
assurance that we will get our mon
ey."