The Rock Island Argus and daily union. (Rock Island, Ill.) 1920-1923, 1922-05-25
Frederick Haskin's Letter
Especial Correspondence Of
THE VALUE OF INFORMATION
Especial Correspondence I

ing mems nQeQ collars. II intends
to put on an advertising campaign
and send out statesmen in the states
west of the Rocky mountains. Thai
company will obtain from the gov
eminent departments at Washing
ton, and from other sources. pre-
else information on the number Of
men in every community in the
states where the campaign is to be
made 1t will find out how many
of the men are from 20 10 % years
of age, how many from 80 to So,
and so on. The per capita wealth
of these men will be ascertained
The survey will show how many
are lawyers. how many doctors,
how many students-in short, the
whole territory will be charted and
tables worked OuS which will show
just how many sales ought to be
made.
Such study is likely to be made
to any kind of a sale. 1t may be
collars, or plows, or butter chuTns
or lead pencils. A big company OBJ
tains exact information as pre-
liminary. This means that no time
is lost in poor territory, nor too
much effort wasted in a section
which could not possibly absorb a
large supply.
Bankers maintain information or
CARNATIONS which compare favor
ably with some of the government
own Investigating STATS. A great
company making agricultural i'm
plements will want a loan of So
600 900. Before making the loan
the banks information staff will
find out, in minute detail and en-
tirely independently of and un-
known to the prospective borrower.
every conceivable thing about its
business. II Will find out where the
company gets its raw materials, If
the supply is likely to hold out, and
if the price is likely to go up or
down.
What a Bank Should Know.
1t will study the transportation
rates on that raw material. 1t will
study the factory methods Of the
company, and then examine the
market in which the company eL-
poets to sell its finished product
Ut may be that the investigation
will necessitate sending investiga-
tors to distant COuntries). In short,
the bank will probably know as
much about the COmpany's bust
ness, before it makes or declines
the loan, as the company will know
itself.
A coffee importer may want a
loan from a big bank. The bank
may discover that a revolt is brew
ing in the distant country where
the importers supplies are bought.
Consequently the loan will be de
cIined. Circumstances may be such
that the coffee company never viii
know why it did not get that loan.
1t will go to another bank, one
which has not learned the value of
information, and obtain the loan.
The revolt comes, the importing
company's property is destroyed,
and it is plunked into bankruptcy.
The bank that was not posted viii
lose a part or all of its loan.
Probably the earliest record Of
the use of quick information by
big business nan is that of Cras-
sus, the Roman, and the richest
man of his time. Before Christ,
fire departments in Rome were
uOu-6AlSlGuL. II a uOuG6 eau
fire buckets of water were cast on
it, but usually with little effect.
Now CrassuS employed a staff of
runners who patroIled Rome. As
soon as smoke was observed. they
would dash to CTassus with the in
formation. He would hasten To the
house where the flames weT1a saazE-
ing Roadway against the feaoie at
tempts to qUeuch them The own
er would be in despair because his
home seemed lost. Then CTassus
would offer to buy the burning
structure. The owner, seeing moth
ing but loss, would sell cheaply.
The instant the deal was closed
Crassus would sound a signal ana
his trained fire department would
appear and put out the fire. Cras-
sus would make the necessary re-
pairs and remain the owner Of the
building. 1t is said that be owned
half the houses in Rome before his
death, and he had bought each one
of them when its value was lowest
because of the imminence Of its
destruction.