The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1921-10-07

tainIy been an anxious one for the
average merchant, but he believed
that the good fellowship engendered
at meetings such as the one held last
night is having it's good erect. Many
times during the past six montns
merchants have been on the border
land of despair. The only way TO dis
pel the clouds of gloom is to smile,
Tor the fellow that smiles, Will collect
two dollars whera the one with long
face and groucn will nave 10 De sat
isfied with one.
Judge Lorin Cray OF Mankato said
that too much credit had been extend,
ed during the past year. This mad
been beyond the needs Of the coun-
try. In many instances banks have
extended credit where 1t should not
have been extended. Judge Cray
sion of credits for wildcat schemes,
iluxuries, etc. The credit extended in
such instances, the speaker said was
as bad for those extending the credit
as for the man to whom 1t was ex-
tended.
F. e. Cooper, one of the merchants
of Vernon Center, did not believe In
turning in bills too quickly to col
lection agency. He thought that the
$3.50
collectors, and understand just what
their customers can do in the way OF
payments. He did believe in sending
out statements promptly every month,
and also in the rating of customers,
so as to protect the merchant. Mr..
Cooper said he did not believe the
average farmer is dead beat, but at
the present has run into hard luck
owing to the low prices of all farm
produce.
The Good Credit Risk.
A. ]. Veigel of the National Bank
of Commerce of Mankato said that in
the extension Of credits three things
should be kept in mind, character,
capacity and capital. Capital Is the
last consideration, for If man has
good character and capacity. he Is
generally good credit risk.
w. A. Streater of the National Cii-
gems bank of Mankato said that the
credit system has undergone change,
especially in the way of farm credits.
He hoped to see country banks en-
abled to extend more farm credits.
While the credits have not been what
they should lin. the past, the speaker
felt optimistic as to the final outcome
F. E. Cooper Of Vernon Center in
vited the merchants to meet at his
town for the annual meeting, but
withdrew this invitation in favor of
Mankato when Vice President Fisher.
invited the business men to Mankato
for the annual meeting, which will be
held in this city some time in Novem-
Der, the exact date to be announced
later
Instead of having 'Pay Up Week"
the merchants decided to send out
bills promptly every month instead. 4
c. r. Butler. one Of the publishers
of The Free Press, was called upon to
state something as to what is about
to be done by that firm in the way Of
getting out noon edition which will
rea\ all towns in Southern Minneso-
Ia in the early afternoon.
Mr.. Butler in opening his remarks
said that the Southern Minnesota
Credit Mems association is con-
meeting link between business men Of
this part of the state, who have at
heart the mutual interests OF every
one living in Southern Minnesota.
fhe Free Press company for some
time past has been publishing the
only daily paper in Southern Mime
sofa which deals with the interests of
this section Of the state exclusively.
The Free Press, feeling for a long
time the needs OF daily paper which
will make it special effort to boost
Southern Minnesota interests, has de-
cided to start Saturday of this week
with special noon edition of the pa
per, which will carry from five to
ten hours more news than the morn
ing twin city papers, and in addition
to this all OF the important news of
the southern part Of the state. It is
proposed to place The Free Press on
all of the news stands along the Oma-
ha, Northwestern and Milwaukee lines
as FAR as practical. 1t will be the aim
OF Inc Free Press to give Southern
Minnesota the best there is in news
paper service, and to at all times en- :
deavor to build up the interests of this
section Of the state. In closing. Mr.,
Butler asked the moral support Of the
business men of Southern Minnesota.
Tor 1t is as much to their interest as
that OF the paper to see the business
interests Of the southern part of the
state kept before the public.
The meeting was brought to a close
by the singing of "Americo