Catoctin clarion. [volume] (Mechanicstown, Md.) 1871-1940, 1900-07-12
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-PeopIe Who May
Be Observation-Disclosures.

Their Prevention-People Who May
BE Observation-Disclosures.
Up to date is not enough for the cred
It man OF a 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
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 it is safe to
trust. and he must he 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-Sos financial condition. 1t is
his business to know. His value TO his
house depends on the amount of cred
it he grants and the small per cent Of
loss which comes of it. There is abSo-
lutely no sentiment about the matter.
Suppose Il man whom you knew to
be perfectly honorable, but in tempo
rary straits, should ask you for err d.
it," This was the question l put to
&c credit man of the department store
doing the largest credit business in
New York.
He would not get it," was the an
swer. ''lntention 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 a book of ratings of habitual
credit seekers. The latest book con-
tains more than thirty-two thousand
names. the ratings being based upon
actual dealings with members. The as
ISOLATION also makes special investlga-
tons for its members and undertakes
the collection of accounts.
Surplep,enting this, each large store
has a 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 whose name
it bears is worthy Of credit Memoran-
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 rcd card, and
hn aI hn
at last turn out to be unworthy of
credit, his name is placed on blue
card, and he is stopped from getting
anything save for spot cash.
The credit mans assistants are con
stuntly at work on these cards. They
study all the daily newspapers and ev-
cry otlrer source of possible informa
tfon concerning the 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 a
family. a marriage or divorce may
either Increase or diminish a mans
or woman's financial responsibility, nc
cording to the circumstances of it.
If judgments are entered, if mort
cages are given, If any kind 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
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 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
l1prt SSion at first | don't believe |
ever changed my first impression that
l did hot make a mistake one way or
the other; and it is as bad for me to
refuse credit to worthy person as to
give it to an unworthy one.
I'VE don't care much for bank ref.
erences,' he added. They arc apt to
be too sanguine. | know that bankers
are often loose in their recommends
tons, so | set the Retail Dealers Pro.
tcctive Association to making special
Investigations. They often find that
MrS" properties are more than covered
ny mortgages, that unSatiSficd judy
Wents stand against very well recon-
meDded names. References are neces.
sary of course, but we have to take
them with many a grain of salt"
eve divide people into three general
classes. For example, the recOmmcn-
dntions 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 sympathiaS 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.
raIity ill the army and navy is positive
assurance that we will get our mon.
ey."
There are about one hundred Bibles