Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-01-09

generally MANAGES to live within his

generally manages to live within his
means. ,sH
1t is generally conceded by credit
experts, Mr.. McKerlan said, that 80!
per cent of buyers are honest and
mean to nee their bills. but there
are also q few so-called "dead-beats"'
who have become so hopelessly in
volved in debt that they make no eff
forts whatever to pay their taccounts.
Mr.. McKernan exhibited D. COM
m%unication from a collector in a
nearby city, telling of such. 1t is
typical and therefore quoted. 1
II return herewith the two claims,
because this party has left for greener
her wages were garnisheed and
her trunk attached. Emma's -
trunk is here,> full of such wearing
apparel as she seems to have accum-
ulated, but the parties who attached
this are not able to wear this lingerie.
Her creditors were, .neve able to get
her to pay attention, let alone pay her
bills. I fear clients will have to
charge these accounts to loss"
Doctors Suffer Most.
Doctors as a rule suffer the greatest
loss from bad accounts, 1t was said,
and hence those who are willing to
pay for doctors advice and services
must suffer in proportion. A doctor
is often inclined to tell his patients
to go to a warmer climate-when
they are slow in paying their bills.
Merchants, in order to protect
themselves from the slow-pay custom
Ger and ''dead-beat," organize them
selves into a credit association similar
to the. n in Grand Forks. Its aim
,is5 to have q complete record of all
buyers in its, territor-the means at
his disposal, responsibility and
promptness in paying accounts Of de-
1~inquehcy, as the case may me. Thus
1.-The merchant can limit the extension
of credit to the deserving. This also
protects the buyer of limited means
from his own indiscretion in making
purchases and thus is 4 benefit to all
concerned.
The Grand Forks Credit association
was organized in October, 1915, and
received its charter in November OF
the same year. Since then practically
all the merchants in both Grand
Forks and East Grand Forks have
become members, paying a small
monthly fee for the privilege. A rat
ing book has been compiled every
year except last, containing data con.
feerning buyers; relative to their use
oraabuseaof credit. In addition .tt
this the credit bureau sends to, 1t.
members weekly bulletins. Of interes
this line ,suchra 8 lists of per
ksons giving chattel mortgages; mort,
gage foreclosures. ETC., changes O.
addresses and the like. NA
To Issue New Rating Book.
at the present time the local bu,
reau is working on the compilations:
the 1922 rating book. A change ha,
been deemed advisable in order i,
simplify the ratings.%4Where for1aArl!
There were sir sclasses Of ratings, Their
will .tns.the new observation-disclosures
promYt.,@@SssioW unsatisfactory and n
credit extended. To do this accurate
" Mr.. McKernan must! seeks1:the1 ali
.of the merchant, who Is given a mum
Der of individual rating cards., on
for each of his credit customers
whose complete credit record and 9th
er data are listed on this card, Thi
is returned to the Office of the bureau
and filed away alphabetically. In ad
dition to this a more complete recort
of the individual is recorded in al
Office book, such as changes Of ad
dress. newspaper clippings telling 0
his various movements from time t.
time and anything else Of interest t
those he does business with. In man,