The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-05-24
EFFORTS WHICH BUSINESS MAKES To GET
INFORMATION ARE REVELATION To PUBLIC

plantation in the Sudan, next fall. AS
conditions change the forecasts are re-
vised and are always kept literally up
to the hour. Its information is more
accurate than the estimate of planters
who are growing the cotton. The
value of this information consists in
the fact that the company knows, to a
few bales, what tie production pros
poets are and therefore what the
price is likely to be- A day too much
Of sunlight in certain sections affects
the price. If the company does not
know about the sun or about the
shower which succeeds it as quickly
as its competitors, it will get caught in
the market and lose money.
viii Make Survey.
Another interesting instance is this.
Take a company manufacturing mems
linen collars. 1t intends to put on an
advertising campaign and send out
statesmen in the states west of the
Rocky mountains. That company will
obtain from the government depart
ments at Washington, and from other
sources, precise 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 to % years of
age, how many from 80 to IS 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 out which
will show just how many sales ought
to be made
Such study is likely to be made as
preliminary to any kind of a sale
1t may be collars, or plows, or butter
churns or lead pencils. A big com
pany obtains exact information as q
preliminary. This means that no time
is lost in poor territory, nor too much
effort wasted in section which could
not possibly absorb large supply
Bankers maintain information or
CARNATIONS which compare favorably
with some of the governments owr
investigating staffs. A great company
making agricultural implements will
want a loan of $4,000, 600 Before max
ing the loan the banks information
staff will find out. in minute detail
and entirely Independently of and I'm
/ known to the prospective borrower
every conceivable thing about it:
business. 1t will find out where the
company gets its raw materials, if thu
supply is likely to hold out, and if the
price is likely to go up or down.
What a Bank Should Know
It will study the transportation
rates on that raw material. 1t will
study the factory methods of the com
pany, and then examine the market il
which the company expects to sell it
, finished product. cit may be that tn.
investigation will necessitate sendin!
investigators to distant countries). II
short, the bank probably will know a.
much about the company's business
before it makes or declines the LOAF
as the company will know itself.
A coffee importer may want a LOAF
from a big bank The bank may dis
cover that a revolt is brewing in TIL
distant country where the importer
supplies are bought Consequent.
! the loan will be declined Circum
! stances may be such that the coffe
company never will know why it di
not get that loan. 1t will go TO an
! other bank one which has not learne,
| the value of information, and obtail
| the loan The revolt comes, the i'm
porting company's property is de-
/ stroyed, and it is plunged into banl