The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-03-27
CREDIT BASIS IS
CHARACTER
HERE
D. G. Retailers Have a Strong
Organization to Protect
Selves and Public.

Character is the basis of credit"
This is the motto of the Associat-
ed Retail Credit Men of Washing
ton which enjoys membership of
200 in this city. The organization
Is affiliated with the Mercantile
Credit Association. Inc, Retail
Credit Mems National Association
and Credit Service Exchange Divi-
sion.
The object of the local body Is
to protect as far as possible mer
chants of the city from being bilked
by people who make a habit of con.
tracing debts and have no inten-
ton of paying them. One of the
principal aims is to see that the
person who is justly entitled to
credit Is not denied it. 1t some.
times happens that some we'll
meaning, conscientious sperson is
fusal. Their operations are not
cause of the operations of. say, one
of his associates, about whose
private affairs he knows nothing.
Operate Over Nation.
So secretly do operatives of the
organization work that a marked"
would-be purchaser about whose
honesty there is doubt is refused
credit without his having the faint
est idea of the cause for the re-
fusal. Their operation are not
confined to the District of Columbia.
but out to the Pacific coast and
from the Canadian to the Mexican
border lines.
Recently a certain man, who now
enjoys a lucrative position, was
traced to a California city from
Washington. Investigation showed
that he had left a trail of bad
debts behind him. When he made
application for credit in the
Western city he was fatty refused
because the various credit associa-
lions in the cities in which he
contracted the bills he never has
paid. had tipped OFF, the establish
ment.
Stephen H. Takes, secretary Of
the local organization, said today
that credit in modern retail stores
is a builder of sales volume"
An Unbroken Chain.
1.-THE chain Of credit is un-
broken" he continued THE work
man credits the employer. the
manufacturer credits the whole.
saler, the wholesaler credits the
retailer, the retailer credits the
consumer and the consumer again
credits his employer.
Credit is both a convenience and
a necessity. 1t is the one medium
That makes possible the conduct of
modern business on the one hand.
re
for many deserving persons to own
their homes. furniture, automobiles
their comforts and even their
necessities.
Credit Is a testimonial and
generous tribute of the merchant
10 the honesty Of the public.
character. capacity and capital
are usually the basis for credit.
once a credit rating is estab-
nshed, the most important thing to
remember is for the person not to
contract greater debts than those
which he can see his way clear
to pay.
The local organization was form
ed in January. 1921 The first pres
ident was Charles NJ Keefer. credit
manager, Of S. kann Sons Com
pany. He was succeeded by Harry
'. OSIcIIudy eF, CfeOlt manager of
woodward & Lothrop's.
Following are the officers: r. w
Whitehead. credit manager of the
Potomac Electric Light and Power
Company, president Leon MAYER.
credit manager for Raleigh Haber
dasher, vice president; Elsie NJ. Lee,
credit manager for Frank K. Jelleff,
Inc, treasurer and Stephen II.
Takes, secretary
The directors are David Sanger.
of M. Philipsborn & Co.; Charles M. |
keefer; Leo Baum, of Goldenberg's:
Harry V. Ostermayer. and Herbert
Rich. of r. Rich'S Sons
Although there was an enormous |
influx OF persons to the Capital dur
ing the war and the consequent |
large number Of dismissals from the
Government departments. after the
signing Of the armistice, Washing |
ton suffered less from bad debts |
than any other city in the United |
States since 1922. The quota fixed |
by the national headquarters for
in the District organi- |
cation been greatly surpassed.