The sun., 1910-05-13

refused The merchant was careless.
near broke or unappreciatve of his
credit standing. any ~ these reasons
looks had o. the banker.
A. an asset integrity is considered more
important than property ltssif. A well
known credit reporting agency defines
integrity.
-Rusiness and social honor.
personal department
Character ~ associates.
Reputation
Ability IL measures thus
Age and health.
Business experience
Education.
sIncome by personal sToFt VERY I'M
portAntl-
Tangible assets. or properly, mean.
That which can bc taken under IN
execution
And whether perscnllly acquired or
Inherited.
Qualified hy income
Net wealth VERY important.
In gathering is material Tor reports
Il grades its credit requisites like THIS
Ability. relatively essential
NmNRuFNIN. Ia
-Pronerty: not uecessl rily essential
Analyze the headings ns furnished hy
this credit reporting Cumpany, you VIII
eee that praCtic lily everything pertain
ing 10 yDuF perF0nal and business life
Il ~ hected IN the files ~ the hank
These flies. unfortunately Tor the care
lsss borrower. are not always secret ~
Ear as the hanking fraternity Is con
er-Uf-i You may have up mixing ~ wha
~. fFN HaHH hal
town may know There h. g sIrt ~ Tree
masonry among modern uHnsf, and they
frpely exchange crelf .1f rW. J,pU OF
even volunteer o. ~ u yuI a0e turned
down hy the Tenth National h'nN h''i'suss
YOU ara slow IN paying Tor yopr aut1tlo-
bile uT foT irequent,ug the hal park
daily Won NAV be- tuleTably sure that tho
Eighth or Ninth National Bank viii not
he ignorant of your falling.
An Eastern wholeSsl" merchant de-
veloped a haing frT s1crfv. vllt and
Yachting ln the popular eye b" We
rioh. Even some of IN" hanks were Tree
n accept hIs uTtTirt" statements
and his loans HErrer1trt q large -u'n.
Ono day. under the inhugnCr ~ a good
dinner no crp'idrI t1 i banker friend
his conviction ttlt mus' business men
work too hard
There are tws kinds - org nI8tlon,-
he said -One Iz ,rEHuIg fI1n ~ work
the other for leisure ! have dcvc'Oped
my business O. he point where ny organ
igafion almost takes care nt l'self That
l. why | am able 90 sr"1d ~ much time
in recreatinns.
Il have reduced the thing ~ a system
In two hours az my desk 7 Crn handle
al the important matters necessary Tor
nv individual attention. ! rise 10 o clock
breakfast at 0t5 and gp downtown IN
nv auto m a. % reach the n'hce nc ~.
ny I o'clock { am through with my days
work ! seldom gn hack after luncheon
It's all IN the system.
The banker repeated this conversation
next morning 20 his assOCiates al The hank
They looked up the wholesalers card
records and found that he was up 20 the
limit. The maximum loan column
showed big for many months, while the
saveraEe balance column indicated any
thing but strength.
leisure' far enough declared the credit
man. i think we'd better give him an
OppOTtunlty 10 organize Tor work
So the wholesaler was pOhJely request a
10 call on the president and WIS told ira.
his line Of credit must be heavily reduced
az once He wis angry and declared that
he could get any accommodation he
wanted anywhere IN town. he would
take up hi- notes immediately, he said.
and also close out his account
Within two hours the BANKS credit man
rpCeived three inquiries over the telephone
from credit managers tJr other hanks
All were told the truth, straight aud de-
tailed
From one standpoint the hank Was
hurting IN own cause by giving the in
formation 20 the inquiring hanks, for by
Withholding the facts 10 would have aided
the wholesaler 10 borrow money else
WHERE and thus take up his paper
BIT the credit man lOaked az the thing
from a broader FiewpOint some day he
would want a similar up himself and he
would depend on tu" fruthiuinrtgs II his
fellow credit men even though hey
worked for hanks that competed with
lis own II was not tu ls interest 10
-stick- any hank Instead .t was 10 the
mutual interest of ali the hanks tD elimi-
nate the undesirable borrower. from the
common field.
~ The wholesaler went from bank 10
hank Attempting 10 bYIr1w and was
amazed al the unHniuuiv uf ths refusal
h A. doubtful whether he ever knew
the real reazuu HD dli awake 10 the
fact however. that uIz business was
not a. well organized for leisure a., hs
had supposed ir got down 10 hard
work befur. be- cleaned Ip h.- bank
ndehtednezs
An Eastern manufacturer uH "a stapl..
line hat long enjoyed a fair line II credit
al his hank. N.W for SEVERAL months
his loans increased ue DID not sesn
willing 10 clean up Part of his account
mAfursd He wanted % renew The
banker asked him why be- wasn't rs,iuc-
nR his line. whether hIs IIslnrss va.
falling o. whether be- had any drains
on he capital
The manufacturer answer was OK
handing business. more outstanding &c
counts entirely optimistic. Too Uptimis-
TIC the banker concluded ie started
he credit nan on % quiet iny--fi CATION.
he discuyered that the mEnuiactura
was SPENDING only half his time at he
once. the other haif be- devoted a. an
other manufacturing concern ~ the city
Through ths latters hank n was learned
that the manufacturer owned a tfO O01
interest in the new industry. This he had
never reported in his stat@ment---. The
tanker sent for him and asked an e1-
planatIOn.
Inc founder ~ this business was an
old friend Of mine he explained -He
Cwne patents on plumbing devices that
had q big market hut hs larked capital
he offered me a chance 10 invest some 81