The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1911-07-19

ton.
The following is taken from the
Charleston Post relative 10 the work
of the Credit Bureau in that city.
The bureau is a branch Of the Re-
tailer's Association there. Last week
the Secretary of the Sumter Cham
ber OF Commerce called a meeting Of
Of the retailers for the purpo Sc Of or
ganiZing a branch Of the retailers as
sOciatiOn in Sumter but the meeting
was so poorly attended that the or
ganizatiOn was postponed until the
local merchants could be seer and
their feeling regarding such an or
ganization ascertained:
'Since the credit bureau of the
Chamber of Commerce. maintained by
the Retailer Merchants Association,
and manager by +. c. McCarty, has
been in operation here, for something
over six months, it has necessarily
about the credit business Of Charles
ton. and incidentally has proved a
great stimulant TO more prompt pay
ment of debts. but its record accom-
pliskment to date is the collection of
a debt thirteen years old, amounting
to about $3.50.
This Is a debt Of very respectable
age. Several Of the merchants have
given the bureau bills to collect which
We're one or two years Of age, or even
five or six years old, but that account
opened in 1898, and unpaid up to this
year, takes the cake for age. Strange
to say, when one of those yellow let
ters made its appearance at the ad-
dress of the debtor it brought results
that astounded the merchant who was
naturally skeptical about the use of
bothering any more with the obliga-
ton. The debtor came up, paid half
the amount owed in cash, and is now
liquidating the balance at a rate very
satisfactory to the creditor.
Charleston people have been accus-
toned TO take their time about pay
ing their debts. The merchants, or
many of them, hav- been easy con-
| cerning this matter 30. They have
| grown to look upon an account six
months or a year old as still an in
fant. The credit bureau has changed
all this. Both the creditors and the
debtors think differently about it.
Members of the retailers associa-
ton state that now a great many of
| their customers who were accustomed
to pay at their leisure come in and
settle up at the end of thirty or sixty
| days, making the request that their
| names do not be put on the yellow
letter" list. That yellow letter has a
| meaning all it's own, and when it
comes through the mail it tells a story
that all who see it may read. But it
also stands for more than its super
fetal significance for it means that
| the man who gets it has not been pay
| ing his accounts as he should, and is
in bad with the merchants.
This business Of slow pay is had
| for everybody concerned. 1t leads
| the buyer to merge into eXtrava-
| gance, to forget his debts partly, and
to live on nothing a year." 1t hurts
| the merchant, because he needs cash
| 10 carry on his business and must Of
ten borrow money from the banks to
get his trade discounts. 1t is gener-
| ally bad for business.
Several thousand yellow letters
have been sent out since the first of
| the year to bad pay" customers, and
| very complete credit information
| list has been built up. A result is
that any merchant in the association
| can in few minutes find out wheth-
er an applicant for credit is a good
| risk or not, and in this way large
sums of money are saved the dealers.
| Not only that but the collections
| made by the credit bureau have firm
| ly established it's functions as a part
| of Charleston's business equipment.