Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-01-18

Believing that both wholesalers and re-
taliers would deriv, much benefit by the
Inauguration of a clearing house system
for credits, as proposed by Secretary A.
r. Edmondson of the Coast Merchants
protective association, the credit methods
committee of the Los Angeles Credit
Mems association, at meeting yesterday
afternoon passed favorab.y on the reso-
| buttons referred to 1t at the annual meet
| ing Thursday night.
This action OF the committee Is subject
to approval by the association. at Its next
monthly meeting.
| Following are the resolutions;
Committees Resolutions
whereas. The cooperation of all the
retail merchants protective associations
under one system is necessary to afford
protection to the merchants in every town
! and city In Southern California and TO
secure concerted action for the establish
ment of a uniform credit system for all
| the western coast; and
Whereas. Suoh a cooperation viii Sc
cure the prompt payments of monthly ac-
counts and shorter settlements of long,
term accounts, and will give publicity
through the medium of the press and the
latter system of the intentions of the re-
tail merchants associations to establish
uniform credit system; that such con-
certed action will be beneficial in the in
terchange Of reports necessary to give
the standing of parties moving from place
to place, and provide for an exchange OF
information by having on file In each
town and city a copy Of the reports OF
all the protective associations on the
coast; therefore. be- 1t
Resolved, That we, the Credit Mems
association OF the city OF Los Angeles dc
| hereby indorse the coast interchange
credit clearing house system of reports,
and believe 1t will be of special value To
all retail merchants In securing the CO.
| operation of every business man inter-
ested In the protection Of the most vital
part of his businees-e g.. the extension
of credit within safe and satisfactory
| limits.
1--WE do further recommend that this
system now established serve as a clear
| ing house for the reports of all the vari-
GUS protective associations organized
along the coast. and that ell act as unit
and adopt said system for a complete
interchange of reports and for the mutual
benefit of all concerned:
1--WE do further recommend the cooper
alton of all protective associations for the
purposes herein stated. to include all TIL
district from San Diego to Seattle, for
securing efficiency and uniformity OF
| service"
All Are Interested
Retail merchants and business men OF
Southern California are interested In the
extension of the movement for more sat
isfactory credit conditions, which applies
| as well to the merchants of the large
cities as to those OF the smaller business
centers. In this connection II will be I'M
derstood by the public at large that ex-
| listing conditions have compelled thi:
movement, not only among the bushes:
men OF Southern California, but for everj
locality from San Diego to Seattle, that
shorter settlements and more prompt col
lections should be the rule.
The cooperation of al business men
as well as the various protective associa.
| lions of the coast, will be enlisted in this
movement for better credit conditions, tc
act as a unit in matters of like interest
to all in the course of mercantile life
wherein Individual effort might prove
ineffective. and particularly for protec'
ton and the establish eElt OF uniform
credit system among retail merchants
| based on the extension of credit within
safe and satisfactory limits.
1t is proposed to MAINTAIN bureau FOL
the interchange Of reports on patrons who
have the habit OF changing their place oil
residence from time to time, so that thu
amount of credit extended will be based
| on their past record. Every worthy per
son will receive the necessary accommo
dalton TO which he is rightfully entitled
but as a means of protection for retail
merchants an exchange of information Il
essential between the towns and cities O.
the coast.
This system is expected to be of mutua
benefit to the consumer and the retail
merchant, as the efforts of this organza
ton will soon be evident in the genera
Improvement of business conditions
through the concerted action OF the mer
chants along the coast TO secure the NOR
prompt payment of regular open monthly
accounts and for shorter settlements o
llong term accounts, which will insure tn,
use of money due within NOR reasonable
limits.
A merchants reference book will b
published monthly with supplement
thereto at regular intervals, containing
list OF delinquent debtors from each mer
chant in the districts throughout tn
coast, of parties who have failed TO max
a satisfactory settlement of their account
within a reasonable limit. Each membe
Of the association will make use OF tn
merchants reference boo. as a guide Il
the proper handling of credits, and partie
who do not make any effort to retain
satisfactory standing by prompt settle
ments of their accounts win hecom
, known throughout the coast to their ow
1t can be readily seen that it is n
longer possible for the retail merchant
continue to act as banker and to con
duct a mercantile business, as formerl
J demanded through the old time custom o
J unlimited credit.
1t is the purpose of all the retail mer
| chants protective associations, by con
certed action, to operate on basis where
by the interests OF the retail merchants Z
California and other western states wi
J be identified with the growth and progress
OF the various communities within tn
: territory embraced in this system.
Improved credit conditions can only
{ brought about by all worthy persons cor
; sidering this movement In the prope
! light; IN other words, the efforts OF thos
Z who have displayed willingness to CIV
proper attention to their accounts wi
J be duly appreciated.
II is the intention of the retail mel
chants OF Southern California and tn
western coast to establish a more uni
form credit system based on the exter
, sion OF credit within safe and satisfied
tory limits, thus reducing the cost OF liy
! ing in proportion as the percentage {
loss is decreased.
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