South Bend news-times. (South Bend, Ind.) 1913-1938, 1919-02-10
CREDIT MEN
HEAR TALKS ON
NEW PROBLEMS
State Convention Opens SeS-
sion Here This Morning
With Reconstruction
Problems As Theme.

Credit conditions in the recon
struction period formed the theme
at the meeting of the Indiana Credit
Mems association. which opened
Monday morning at the oliver hotel
Delegates from all parts OF the state
were present for the sessions, which
were to continue all day and close
this evening with "A dinner.
a. G.. Rupf, secretary Of the Stu
debaker corporation, presided. Fol-
lowing the invocation by DIR. c. A
Lippincott the delegates were well
coined by Louis VI. Hammerschmidt.
The response was by Ray A
Schuster Of Muncie.
The convention Immediately got
down to business and listened TO ad-
dresses by II. w Sparrenberger Of
Evansville. carl Oesterle of Muncie,
who discussed the trade acceptance;
Fred Einecke of Terre Haute and
q. II. Angeier of Fort Wayne.
Prof Weatherly TO Speak.
At the dinner this evening Prof
u. G. Weatherly OF Indiana univer-
sity viii discuss Social Reconstruc-
ton - and J. II Tregoe. secretary
treasurer Of the National association,
viii discuss reconstruction from the
credit mans viewpoint.
G. H. Allgeier OF the s f. Bow
ser & Co. Fort Wayne. spoke on
the subject. Some of the chief quail
ities essential for successful credit
granting under reconstruction con-
ditions" He said in part:
Credit increases prosperity. True
credit is built only through fair rep
resentation. This is the credit that
stimulates industry, inspires conf
dence. and creates a healthy ac-
tivity. II used for productive pur-
-credit-while indeed not cap
ital-works like capital, and consti-
tutes an aid 70 production. II renders
possible the same amount of out
put with a smaller cost or sacrifice,
and though il is not productive pow
er-it is purchasing power. II ac-
complishes this by taking the funds
ont of the hands of those TO whom
il is worth relatively little and put
ting IL into the hands OF those TO
whom il is worth more because they
make il yield more. 1t increases the
wealth of a community by lessening
the subjective sacrifice of certain in
dividuals and putting funds at dis
posal where they will be utilized TO
the greatest advantage. thus de-
creasing costs and increasing output.
"a business mans capital is the
sum total OF his net assets plus his
credit. The successful business
houses are those that have grown
slowly. They have limited fixed in
vestments. guarded their credit
standing. and profited by the ex-
perience OF others. Analyses of fail
ure show that lack OF knowledge
or ability. understanding. improper
or no accounting. excessive over
head. slow turnOvers and unwise
credits ard collections constitute the
bulk OF all causes. Business largely
on account of unintelligent compe-
tition has tolerated or fostered their
rrowth-whether knowingly or
otherwise does not matter in the
present circumstances.
Business Must Prove Case
Each business viii have to prove
its case. and internal efficiency will
bes It's principal evidence at the bar
Of economics We viii all have 10 DO
not n little more but "a whole lot
better than ever before. and that
idea must be sold throughout the
trade. The credit man Of the future
viii help retailers 20 a better under
standing or means and methods. He
viii teach them 90 buy sparingly
hut often. rather than largely and
seldom. He viii teach them 20 keep
in closer contact with jhe supply
lie will teach them TO use printer
ink with discretion and effect lie
win teach them the cardinal prin-
ciples OF modern business. There
never was better time for the con-
Structive credit manager 20 drive
home 20 his customers the import
ance OF intelligent accounting. buy
ing and merchandising reduced
overhead and faster turnovers
There nsVer was a better time For
absolute frankness between debtor
and creditor Many customers are
reluctant 20 give adequate details
OF their business affairs and credit
managers have passed their orders
on more or less sketchy deductions
Ability Plus VIII Required.
Credit must be founded on a