Music Trade Review

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THE MUSIC TRADE REVIEW
OCTOBER 24, 1925
The Music Dealers' Instalment Sales—(Gont. from page 5)
It is a highly convenient form, since you can
see at a glance the customer's paying habits for
the entire year, as well as the date of the last
payment and the amount still due. An office
girl runs through a stack of these cards, pick-
ing out those which are overdue and should be
followed-up, as designated by the "Stop" sig-
nal. After the accounts have been properly fol-
lowed up, the cards are returned to the file
where they belong.
The Denver Dry Goods Co. uses only one
other form, that containing the credit informa-
tion about the customer and the terms of sale.
Here is another record form still more con-
192
Sixternih al Stout
DENVER
ANALYSIS OF YOUR ACCOUNT
Month
Y«r
Charges
CtediU
Mdse. Cr.
Balance
Amount P u t Due
Current Purchases
Total Ami. Due
Tlio abort analyst! shows the actual condition of your account.. W e will
apptesiate your prompt attention to that portion which » past due.
Figure 4
venient for filing and follow-up. This record is
filed, not according to the name of the credit
customer, but according to date of follow-up.
On this form (See Figure 3) the credit man-
ager notes the customer's- name and address,
the date of purchase, the total balance, the
amount which is past due, as well as a record
of credit, with the dates the credit was paid
and the amounts. In the last column the credit
manager jots down the dates when collection
notices have been sent, with the dates these
were mailed.
How To File Follow-Up Record
On the top of the sheet, under the word
"File" the credit manager writes down the next
date of follow-up, and hands the sheet to the
office assistant, who files it aw;iy for future
reference.-
The sheet is filed in a flexible letter folder,
which has thirty-one subdivisions, each for a
day of the month. If the credit manager should
write on the top of the sheet, "1-1-25," it means
that on this day a collection not : ce should be
sent to the account. The office assistant files
it away under that date. On January 1, 1926,
the office assistant takes out all sheets filed
under that date, and hands the batch to the
credit manager. The latter sees which of the
past due accounts had meanwhile been paid,
and^ to those for which no payments are record-
ed he sends the proper notices.. He then jots
down on top of the sheet the date of the next
follow-up, and the office assistant files it ac-
cordingly.
The credit manager finds that he can save
a lot of time by using this filing system. Fur-
thermore, he is enabled to dictate, special let-
ters applying to certain groups of delinquent
accounts. He uses for the purpose sheets of
two colors. The white colored record sheets
are for city customers, while the pink ones are
used to record country customers.
Every credit manager experiences one source
of trouble with his filing system; the danger of
automatic follow-up. A clerk who is delegated
to file records and send the perfunctory collec-
tion notices cannot be expected to give the de-
sired attention to individual cases. Therefore
many credit men make it a rule to go through
the accounts themselves. One credit man goes
through the records every three days. An-
other goes through them three times a month,
on the first, tenth and twentieth.
The record forms we have just discussed are
for the use of the credit department, but what
about a record of the account for the customer
himself? We do not mean a bill or statement,
but something more attractive and effective
from the collection standpoint. During his
visits to retail stores, the writer came across
just such a form. It is an "Analysis of Your
Account" card (See Figure 4), which the credit
manager sends to the customer shortly after
the account has become past due. On this card
the credit manager writes down with pen and
ink the customer's name and address, the dates
and amounts of charges, the amounts of credit
(cash payments), merchandise credited, and the
balance. At the bottom of the card appears
the total amount past due, to which is added the
cu rent purchases, the product representing the
total amount due. The following is printed at
the bottom of the card: "The above analysis
shows the actual condition of your account.
We will appreciate your prompt attention to
that portion which is past due."
The effectiveness of this idea lies in the fact
that it is a businesslike and impersonal remind-
er, and no customer can possibly take offense
because it is sent to him. The credit manager
who devised this form several years ago reports
that many customers, upon receiving this card,
will call in person and settle their past due
bills and generally remark upon the novelty of
the idea. Several businessmen have asked him
for permission to use the idea in their own busi-
nesses.
Your credit records have other uses than
merely for follow-up. J. F. Thomas, credit
manager of Schmoller & Mueller Piano Co.,
Omaha, Neb., goes through his books regularly,
picking out the names of customers who are
not using their charge privilege. To each he
sends a blank statement, on the face of which
he writes in ink: "Balance due to date—
NONE." He reports that many who receive
this unique reminder generally come around to
use their accounts again.
(All Rights Reserved.)
Delaware Piano Go. Bids
for Nordlund Business
Recently Organized Concern Negotiating for
Purchase of Piano Department of Nordlund
Grand Piano Co.
CHICAGO, III., October 13.—-One of the reported
deals in local trade involves the selling of the
piano department of the Nordlund Grand Piano
Co. to the newly organized Delaware Piano
Co., Muncie, Ind., which Charles Houston has
been endeavoring to promote in that city.
Talking to a representative of The Review
A. Nordlund said: "Nothing is yet settled about
the offer made by Mr. Houston to us, which
would mean our retirement from the grand
piano business and we would then devote our
whole energy to phonograph and radio equip-
ment. Mr. Houston made us a proposition
which may result in that change of business."
The original plan of organization of the Dela-
ware Piano Co. involved the purchase of the
plant formerly run by Bell Bros. Co. in Muncie,
and it was intended to manufacture small
9
grands exclusively. The capital was to be
largely contributed by citizens of Muncie who
were offered the stock of the company and a
bond issue was contemplated to provide for the
purchase of the factory, equipment, etc.
Danquard School Opens
in New York November 9
Sessions Will Be Held at the McAlpin Hotel—
Both Evening and Afternoon Sessions to Be
Held
Announcement has just been made that the
Danquard Player-Action School, having com-
pleted its tour of the East and Middle West,
will return to New York and will open sessions
at the McAlpin Hotel, Broadway and Thirty-
fourth street, for a month commencing Novem-
ber 9.
The classes will be in charge of Milton L
Cheek, who has been principal of the school foi
many years. For the convenience of those who
cannot attend the afternoon sessions, which will
start at 1:30 p. m. every week day except Satur-
day, night sessions have been arranged and will
start at 7 p. m. Complete courses of instruction
will be given on both the Standard player-ac-
tion and the Welte-Mignon (Licensee) repro-
ducing actions. All courses of instruction are
absolutely free.
Baldwin Piano for Teachers
The Baldwin piano has been selected as the
official instrument for the Indiana State Teach-
ers' Association, which held its annual con-
vention in Indianapolis on October 22, 23 and 24.
Pratt Read
Products
keys actions
players
are shipped on time.
When we make a
promise you can
count on it.
When you want
quick service you
can get it.
We have over
200,000 sq. ft.
of manufacturing
space to back you
up with.
Write us at the
first opportunity.
PRATT, READ & CO.
Established i n 1 8 0 6
The PRATT READ PLAYER ACTION CO.
Deep River, Conn.