The Richmond Virginian. (Richmond, Va.) 1910-1920, 1917-02-25
Statesmen HELP TO
CREDIT MANAGERS
Very, OFTEN What the Former Can
Learn shows Whether Customers
Can BE Trusted.

battle FOR business is daily becoming
more apparent to the well posted and
wide awake credit man.
While the statesmen more or less
unfortunately, are in some cases not
over anxious TO accept the credit
mans point of view in the matter
they are coming to realize that the
more they can help in minimizing
the bad-deht losses of their employers
tho more valuable they become In
cfdentaily, the chance that the re-
muneratye butter. will he spread a
little more thickly on the bread Of
the statesmen who render good service
in reporting things that are not "a
they should he with their customers
is not altogether missing.
Among the many business men who
preach the gospel of saiesmen as
credit scouts Is L, s. Boiler. Mr..
Boteler, in addition to being Presf-
dent OF q. X. sheridan 81 Co. of New
York city. is a member Of the eXecu-
tive committee Of the New Y ork Cred
It Mems association. A few days ago
he gave n Times reporter his views on
the sFhject ana also gave instances in
- ", 1 T. salesWen4 by their observations
ana IrpOrts, had either saved their
firms from financial loss or had re
duced these losses 20 minimum.
"One Of the most encouraging feat
ures Of modern business from the
credit granting point Of view" he
said. = That credit managers ana
salesnen are coming gradually To
look oil one another with a more
tolerant eye In uauH eAses they
have become genuinely friendly IN
their business Associations. { am sure
that II is only matte % time when
all credit managers Wi, realize that
potentially the most atlablc collec-
tors of worth while Information are
the salesman whom they train 10
listen and To observe
That many statesmen need training
Of this kind is NOT to- ~, taken as a re-
Election on their abilities No doubt
you have often noticed bow a man
Will take out his watch. glance at II,
and return 1t to his pocket. and then,
If asked the time, VIII almost in
Nariably have 10 look again before he
can answer. His eyes did their work
all right the first time but the impress
sion was not recorded by the brain.
believe that credit manager must
start by impressing the statesmen with
the idea Of not only looking about
them, but OF retaining mentally the
Photographic evidence OF conditions
in the customers place OF business
that their observations have register
ed
- it&A4F TN }fltltFN4tNi4 h4 L!le .IullC~
tons of the camera will so iliumine
that the statesmen will recognize the
parts they must play with eye. brain,
and viii II is said at one OF our
great colleges that If a man knows
tbs reason why, he knows the how
and when when statesmen are ready
70 consider the meaning OF the things
they see. the credit manage VIII he
gin 10 observe they are learning that
. a.
heed 3iscreetiy. particularly the COM
menfs Of their customers employees
and associates with whom they are
in friendly touch. Too much care
cannot he given. however 10 impress
ing them with the fact that they are
70 conceal from everybody but the
credit manager of their own house
not only the inforntatjo received or
acquired but also source Of that In
formation, whether voluntary or
otherwise
1T Is practicable in many cases.
especially where customers are few in
number. for the credit MANAGER to
visit regularly their places of bust
ness. BY doing So he can keep in
close and friendly, but ohservant
touch, Obviously. however. where a
firm has thousands Of accounts on it's
books. the credit man must use the
Of the statesmen, who can be taught
TO appreciate their value In this re-
spect
Tho experiences Of some OF my
friends. who were emiuentIy success
fui statesmen for some OF the large
New York commission houses definite
" prove the value ~ travelling men
as credit scouts one of them, for in
stance. visited regularly large
I, ~. u, e., L sNfy,
" after the advent Of n new partner
This salesman began to notice that
the relations between the principal
members OF the business were less
cordial and that. gradually. expert
cnced and capable buyers were re-
signing and being succeeded by men
who were less capable. He also noticed
that the stock was becoming inferior
and less attractive, while q general ar
or disCord became more and more ap~
parent. BY discreet inquiry my friend
found that tho local banks were not
so favorable disposed toward the
Arm ms they had been before. So
acting on the principle that a house
divided against itself cannot stand, he
reported all these things TO his EN-
ployers This result was that when
the johhing house failed few months
later my friends firm was not
among Inc tostiS.--
Another incident concerned GER
tain wholesale house i'm n city In the
Middle West. This concern began to
accept styles and designs that were
out of fashion and to take fabrics
which, for quality. We're of the second
class whenever ii could obtain this
merchandise at a concession in price.
AS competition In that city was es-
pecially strong, my friend began to-
look the situation over carefully. In
cidentally he found that the head OF
the concern In question was confer
ring with representatives of religious
and social orders and soliciting de-
posits of funds. What YVES more, this
executive was making n similar call
upon his employees, promising them
a. liberal rate, of interest for their
money, while any attempt to with
draw funds previously deposited was
received unkindly My friend quick
" put two and two together, and act
ing on his advice his house refused
to accept any more orders from this
concern By the time of the failure
that was presaged by the executives
tA4 4 A