The Waterbury Democrat., 1931-03-07

bury Credit Rating bureau of the Waterbury Chamber of Commerce ! submitted today shows that the de- partment cleared 15,446 local calls during the year. In addition, 1,2S9 inquiries from bureaus of other cit- ies were answered and 1894 new names were added to the master file. The report states that there are { 75,O00 names on file which represent several hundred thousand ratings This Is the result of the combination of the Investigations file of the Chamber of Commerce. Thirteen new members were admitted mem- bership.
 The report as submitted by Miss Helen M. Hurley, assistant secretary of the Chamber of Commerce. and secretary of the Credit Rating bureau reads as follows:
 At no time in the history of busi- ness has the Credit Rating Bureau proved itself more of necessity in the conduct of business than during the past year. Likewise, at no time has an individual had greater ap- preciation of the value of a favor aD.e credit record than during the same period, when it has been nec- essary for him to seek the necessi- ties of life on the record of his rep utation as 6 credit risk. Thie Is not only true of your local bureau, but 5 of all Credit Rating Bureaus iden. tified with the National Retail Credit association, as reported by them. of which your Waterbury bureau is a unit.
 This service is continuing to grow, and as it's value is relaized by con- cerns extending credit-credit con- ditions will continue to improve, and accounts receivable can rightly be considered such, and included as an asset to ones business, rather than an "accounts deceivable" item as 1t has proved to be in some in- stances. No longer can people make light of the fact that they are de- linquent. with consumer credit con- trolled as it is to-day. Credit bu- reaus have awakened the pupic 10 their responsibilities, and nave done much to obviate mental inertia Tn inc form of fixed habits which have developed from a lackadaisical attl- tude toward the payment of bills.
 Below we outline briefly and con- cisely the part your bureau has played as an aid in the control Of credit:
 Endorsement of Bureau Head- nuaptcrs = During the year we doubled the size of the bureau head ouarters and added new equipment including a twelve line, four posi- ton. order-turret board which has : greatly facilitated the handling of cal,n. This order-turret board is also beiur used by a number of credit rating bureaus throughout the coun- try. and enables the operators 10 handle an increased number of calls.
 Scryicc-During the period men, toned above 5.446 local calls were cleared, 1,239 inquiries from bu- reaus in other cities were answered, ana 1894 new names were added to our master-files. Combined with the inycstigations file of the Chamber of Commerce. we now have in excess of 75.O0O names on file which repre- sent several hundred thousand rat ings.
 Through our confidential bulletin. which is mailed bi-weekly. mem bers were advised of 612 accounts referred to attorneys, 115 cases of repossessions with the name of the article repossessed, S1 accounts closed against further credit, 82 bankruptcies, 153 estates being set tied in the court Of probate, ana BIO changes of address. Forty non-
 
 the attention of our members, and we flashed" 2S notices on fraudu- lent check passers. etc.
 Over the same period, our from time-to- time bulletin, which is mailed to members bi-weekly, con- tained information on 559 building permits, $50 births, 581 marriages, 3S6 marriage intentions, 729 deaths and 196 new residents.
 New Membcrs-The following new members were admitted to the bu- reau during the year:
 Elm pire Loan Corp. Hotchkiss Co. : Industrial Loan Co, J. Johnson x Sons. Justus oil Co, Inc. Leary the Florist. W. F. Pierpont, Phoenix Finance Go. Standard Stores. Water hury Cadillac Co, Waterbury Nash Co. Wilhelm, Inc, +. F. Worden &; Sons.
 Rcsignations - Five resignations were received during the year, four of which were due to discontinuance of business. as follows: Brodrib x Blair. Burns Bros, Miss Carley's Shop, Clyne Glass & Furniture Co., Standard Stores.
 AnnlicatiOn Blank for Credit The b ureau drafted, ana recoh- mended to it's members, a uniform application blank to be used by the customer in applying for credit which was adopted by many Of oui members and found to be helpful
 Identification PIan-A committed of the board, after carefully con- sidering various forms of identlfica' tion plans used throughout the country, recommended to the mem bers the adoption of signature plan which necessitates the persor charging merchandise to sign tho charge slip. This plan has beer adopted by the majority Of oul members and has been great aic in eliminating misrepresentation 1T s the charging of merchandise.
 AfflIiation with New England Credit Bureaus. Inc-On April 3rd 103O. the Waterbury Credit Rating Bureau. Inc, joined with the New England Bureaus, Inc, in whicf there are twenty-eight credit rating bureaus affiliated. This bureau ha: introduced a uniform special repor blank which is being used by prac' ticalIy every bureau in New Eng land, and is helpful in securing de sired information on requests foi special reports. The bureau is do ing much toward standardizing nee essary forms and methods.
 Meeting with New England Rep rcsentative of N. R. C. A.-On No. vember 18th, Charles J. Martin, field representative, covering New Eng land for the National Retail Credit association, addressed a meeting oi members and invited guests The meeting was very much worthwhile ns a reminder of the many services of the credit rating bureau. and served as an excellent medium oi acquainting prospective members "a rtfft, tho work wa are doing