The Plymouth tribune. (Plymouth, Ind.) 1901-1911, 1904-07-07
BIG CREDIT COMPANY
COMMERCIAL CREDIT EXCHANGE
INCORPORATED COMPANY.
To Begin Business in Plymouth-Loca
Firms Become Stockholders in the
New Concern With Offices in
the Kendall Block.

System aids to bring delinquent
debtors to justice.
To aid and protect the debtor who
is willing. but cannot pay his indebt-
edneSS.
To centralize and curtail and pro-
tect credits.
To obtain and compile credit ratings
on all persons, firns and corporations
within its district.
10 protect the business public from
being worked by SchemerS, grafters
and local people in divers ways.
The Commercial Credit exchange,
having as its object the establishment
of credit business by itself, is now
in operation. The company is incor-
porated for 5000, 900. A meeting of
tie stockholders in this city was held
Tuesday evening and the several
boards selected embrace the represen-
tative business and professional people
who represent nearly every line of
business In the city. The merits of
the corporation were discussed in de-
tail and all we're highly pleased with
the general objects of the corporation.
The institution begins business with
the hearty support Of most of the
leading people OF the city.
PLACES BUSINESS ON CASH BASIS
1t Is expected the exchange will
revolutionize the credit business and
at the same time cause credit to be a
business by itself. 1t is the purpose
Of the system to effectually stop the
professional deadbeats from living on
the business OF the community. The
exchange will be a central office for
all who are honest to obtain credit.
Consequently no one will be compelled
to ask each individual, business and
professional man for credit and the
business community will be saved the
embarrassment of refusing patrons
credit. The business people will also
gradually cease extending credit.
The exchange will be the sole owner
of ali its stockholders delinquent ac-
counts thereby eliminating the nec-S-
sity for delinquent debtors to shun or
stay away from the business or profess
sionai people they owe. Business
houses doing strictly cash business
have invested in and become stock
holders IN the exchange. This invest
ment was prompted through gener-
Gus feeling they have for class of
their patrons who at times are com
PEELED to ask credit, thereby providing
for such patrons place where they
may be aided in cases of necessity.
The capital stock of the exchange is
divided into two claSseS-preferred
stock and common stock. Preferred
stock is paid up in cash. Common
stock is paid for in delinquent debt
due TO stockholders. The claims &C
copied in payments for common stock
are received at their appraised value,
which is fixed by finance committee.
BAD DEBTS AND COLLECTIONS.
The exchange make it rule not to
demand of debtor a justly disputed
claim, thereby permitting no malice
as all debtors and creditors may ap-
pear before the board of equity and
make known all facts pertaining to a
disputed claim, after which the board
will decide upon It's equity. The ter
ritory covered by the'excharge will be
divided into districts. An adjuster
will be placed in charge of each OF the
various districts whose duty it will be
to call on each debtor in his district,
to collect money, ADJUST claims pro-
vide for future payments and, when
desired by debtor. make provisions
so that all his debts may be CONSOLE
dated into one debt and arrange SO he
can make small weekly or monthly
payments untll the whole amount is
paid.
Claims against the stubborn debtor
and professional dead beat will be
transferred to the bad debt depart
ment, where ali available means will
be used to compel the debtor to pay
and If occasion demands the debt will
be advertised for sale. The exchange
will compile and keep a credit record
on everybody and inform the business
and professional people in regard to
everybody credit standing. 1t will
also compile and deliver to the ousi-
ness community delinquent debtors
list showing names, vocations and adj
dresses of stubborn debtors who will
not accept the good offers Of the ex-
change. Additions and changes will
be made In the list from time to time
as occasion requires. Any debtor
whose name appears on the list may
redeem his credit and have his name
oancolad tharafrnm hq making salts.