Mexico weekly ledger., 1916-02-10
A CREDIT BUREAU is NOT
A CIRCULATING BLACK LIST

A CIRCULATING BLACK LIST
'If you have properly managed
credit bureau, merchants, you will
get tangeable money results that you
can see with the naked eye," said G.
o. Hanes, secretary Of the Columbia
Commercial Club and Retail Merch-
ants Association, as he spoke at the
Mexico Commercial Clubs luncheon
Friday night.
"a Credit Bureau that rates every
one in the community; keeps line on
all new arrivals; obtains their rating
from their old home; keep all merch-
ants and members posted on all mat
ters such as chattel mortgages, deaths,
divorces, marriages, etc., that will af-
feet the credit rating Of any indivi-
dual; and keeps its information up to
the minute is an asset to any city--its
merchants and its consumers"
columbia has over eleven thousand
men and families rated, and more than
thirty six thousand rating on people
in the trade vicinity. All information
of the association in the Columbia plan
must come through the Credit Bureau
office and in that way it is not neces-
sary to publish black list. When
ever a new account is extended the
Credit Bureau is called and the desir-
ed information is given the member.
In the case of all disputed accounts
the debtor is always given the benefit
of the doubt in making his rating.
According to Mr.. Hanes people
who are extended credit can be divided
as follows: 20 per cent pay promptly;
40 per cent are good but slow; 20 per
cent slow pay and 20 per cent are un-
desirable. 1t has been estimated that
each year S50,OO0.0OO is lost in bad
credit extended in the United States.
After the rating is obtained and
credit has been given by merchant,
the association has two form bills
which are used in collecting the money
Iwhen debtor is inclined to be slow or
4 -.
indifferent about an count.First the
merchant sends the debtor special
account blank, and if in a reasonable
time this is not answered the associa-
ton from its office sends a letter to the
debtor. Six days are given him in
which to settle or his credit rating il
changed.
"The success of the Bureau in my
mind" said Mr.. Hanes, depends on
the fact that everyone knows that all
the information is confidential and kept
lin the association offices. Even the
consumer in Columbia realizes that II
helps him. By eliminating the "Deat
Beats" and by Encouraging prompt
payment of bills, the merchants risl
cost is decreased and he will give i
back to the customer in one Of two
ways: make smaller margins or Civ
, better goods"
Mr.. Hanes also spoke on the trad
at home movement. 1t has been hi
observation that less knocking O.
mail order houses and more time Il
boosting your own business produces
the desired results. Adopt the slogan
"Buy in Mexico" and create the sen
timent. Give quantity, quality, ser
vice and advertise, is Mr.. Haines per
scription to keep the trade in the com
munity.
One Of the most important com
mittees of the Columbia Commercial
Club is the vigilence committee tina
: looks into all advertising and charit
propositions that are submitted to th
t club. This committee is "blind" an
. known only to the president so that
: can be unhampered in its work. Whe
: cook books, score cards, programs
). moving picture advertising, ETC., ar
|. submitted to the club members 70
! their patronage, this committee look
t Unto the matter and reports to the pre-
ident who passes the report on to tn
club. 1t has been found that such &C
a vertising is only ten per cent eficien
: Stock Sailed Day in Columbia is hel
!, on the third Monday of each montl
e 1t has proven big success due I
e the able management of the Boon
:. County farmers who have taken az
tive interest in the sales, and cor
slider the success or failure of th
: proposition up to them.
e The flavor of our zoe a ID coffee