CREDITS AND COLLECTIONS 321 



usually states the number of merchants furnishing the infor- 

 mation, amount due to such merchants, amount past due, etc. 

 In addition thereto is also furnished opinions of members in ref- 

 erence to whether the firm in question is considered to be prompt 

 pay, medium pay, slow pay, poor pay, or if buying on cash basis. 



Members of credit bureaus at times agree not to force a col- 

 lection from a firm which is financially embarrassed but to re- 

 port the condition of such a firm immediately to the secretary of 

 the bureau who in that capacity acts as a representative of all 

 members doing business with said firm. Members interested 

 send a certified statement to the secretary, who will collect the 

 money or as much thereof as possible, which amount is pro- 

 rated among such creditors. 



The Credit Men's Association is an organization found in 

 nearly all cities. The membership is usually composed of one 

 representative from each wholesale house of the city. This 

 organization may or may not be associated with a national 

 association. The members meet at more or less frequent inter- 

 vals for the purpose of exchanging information in regard to 

 their experience with various creditors. 



Retail Men's Credit Associations are found in nearly all 

 cities and in most towns and may or may not be associated with 

 national organizations. The members of these associations are 

 the retail merchants or their representatives. They organize 

 for the purpose of obtaining reliable credit information; some 

 such associations also collect accounts for their members, and 

 some publish a book once a year with a key to each individual's 

 rating. 



There are a number of other sources through which credit 

 information may be obtained. Some private concerns furnish 

 information and often the bankers are referred to for credit 

 information. The latter, however, are often opposed to fur- 

 nishing such and whenever they do it is done as a matter of 

 accommodation. 



II. The Firm's Own Records. Records of the firm's for- 

 mer dealings with the merchant who applies for credit offer 

 another important source of information. It will not be safe, 



