The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1928-12-31
BISMARCK BUSINESS
PROTECTS ITSELF
BY CREDIT BUREAU
Organization Keeps Track Of
All Newcomers and Their
Paying Habits

Paying Habits
Credit business is done In Bismarck
and Mandan on a protective basis
hat keeps down the losses through
Dad accounts, thus enabling mer-
chants to operate on a smaller margin
Of profit and sell for lower prices than
vas possible under the old system Of
prcmiscuous trust. The protective
medium is the Bismarck Mandan
Credit bureau, corner of Third and
Broadway. How this operates was de-
scribed by j. Henry King. the secre-
ary-manager Of the bureau. He said:
The Bismarck Mandan Credit bu-
reau, an organization dating back to
1923, makes 1t its business to find out
who is who as they arrive in either
Bismarck or Mandan to make their
homes. Sometimes it happens that
the bureau in the city they come from
has already sent word in advance,
giving their previous record as to pay
Ing habits. One party who came to
Bismarck a week ago from another
state mad a police record owing TO a
habit of issuing checks without funds.
In addition to this, he left a bunch Of
unpaid accounts in the town he came
from. He is due to move on, for he
can open no accounts here.
Canada Also Organized
The party who has been IN the
habit of making his living by opening
accounts without any thought Of pay
ing for them finds that new order
of things has come into being since
the organization of the National Re-
tail Credit association in 1912. There
are now 100 communities throughout
the United States and Canada thor
oughly organized, all banded together
through the national association.
Each bureau makes 1t part Of its
business to record the paying habits
of each individual in it's community
When new resident comes to either
Mandan or Bismarck, if his record has
not already preceded him, he is inter-
viewed in a friendly way by the
credit bureau manager and his occu.
patton and former residence ascer-
tanned. With these 100 connections
throughout the United States it be.
comes an easy matter for the manager
here to obtain the necessary informa.
ton needed by the credit grantors o.
this community.
When Is Another Factor
A credit grantor wants to know
whether an account placed upon hi
books is there to stay or whether i
will be taken care Of, and when. l
makes some difference when an &C
count is paid. There are those VIII
are perfectly safe to do business with
yet Improbable to the credit granto
for the reason that they take thei
own time about paying their &C
counts. The credit risk which is de
sirable to all credit grantors is tn
individual who makes 1t habit t
pay his bills promptly every 80 day
All account that must be kept on tn
books for 80 days or over is terme
''unprofitable" for the reason that tn
investment by the creditor granto
If all accounts were paid on this basi
would be too great for the volume {
business done.
Our merchants are trying to ir
crease their volume by lowering til
price of goods. These smaller profit
are possible only through 30-da
turnover of their book accounts.
The individual whose account is II
vited and who really becomes an a!
set to our Bismarck Mandan commit
nifty is the one who comes here wit
a 30-day paying record behind hir
The fact that mans name appea
in the weekly credit bulletin whie
goes out confidentially to 165 men
bers in the two cities is proof tn
the bureau already has made or
making investigation regarding SUI
individuals paying habits.
Most Business Men In
There still remain a few who r
fuse who cooperate with the MAORI
of credit grantors and who think tn
can Judge man by his looks. The
few are rapidly being converted
the modern method OF cooperation
eliminated from business.
Members of the Bismarck and
Credit bureau have direct conts
with the complete credit records, Gu
rent and antecedent, on the 10000, {
consumers contained in the files
the 100 credit bureaus in as ma
towns and cities throughout t
United States, thousands of recol
on Canadian consumers as contain
in the files of the IL Canadian /
reaus, and millions in England q
continental Europe. What is Il
worth to you?
A collection department is ma!
tanned which is rapidly becoming
clearing house for both Mandan a
Bismarck of all past due accour
Through this department the bure
keeps constantly In touch with
wage-earner and lec::..:5 from fir
hand contact the exact attitude of
II individual toward his obligations.
hI There is saying among credit n
that everybody pays for credit burr
service If he is credit grantor.
non-member pays IN increa
:harge-off at the end Of the "
Nature Wreaks Have
in Britain and Wal