Music Trade Review

Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
PH [ILLIPS MUSIC STORE
24 E . THIRD ST
Lease No.
BETHLEHEM, PA.
Termi
Collection
Letters
MaxUd
Date
Day
ETERNAL
VIGILANCE
'
j
Scne*
Name
Address
The Price of
Phone
Moved to
PROMPT
COLLECTIONS
Moved to
Check No.
or Foreman
Employer
Employtr's Add
Reference
ARTICLE
Date
Date
Amount
Amount
NAME IN •='••
Dear
'-
the
today for
Friend-
By
EDWARD HUPPERT
Manager, Phillips Music
House, Bethlehem, Pa.
THE CARDS THAT
SERVE
TO
KEEP
PHILLIPS' COLLEC-
TIONS UP-TO-DATE
Dear Friend: —
Please he advised that payment as follows, is due on or about
.
...
to apply on your account;
E
TERNAL vigilance is the price not only of
Installment due for current month, as per lease $
Liberty but also of prompt collections. Our
Overdue installments for
$
collection system may best be described by the
Total amount due now $
Your balance to.date, as shown on our books, is $
admonition "To watch every account watch-
fully." We employ common sense rather than elabo-
If this is not correct, plea.se advise us at once.
rate or "clever" systems and its justification lies in the
Sincerely yours,
fact that we collected five thousand dollars ($5,000)
PHILLIPS MUSIC STORE
Your termi are, $
per month.
24 E. Third $treet
more on our accounts in 1930 than we sold during
the same period. This, in spite of the worst depres-
sion our community has ever experienced, with
thousands of men employed an average of only twenty-
four hours per week and as many employed not at all. as close to their terms as ever we can, or else
Payment notices (reproduced herewith) are mailed regu-
If this statement seems to indicate a Utopian credit situa-
tion, let us hasten to confess that there is a "slum district" larly to practically every account about five days before pay-
even in Utopia. We, in common with most other dealers, ments are due. When the first notice fails to bring in a pay-
have our share of bad, very bad and utterly hopeless accounts, ment on the due date a second is mailed immediately and
products of too much optimism and inflated- sales volume. stamped in red ink "second notice." If the second notice fails
But we have learned that an impressive total of sales is often to bring in the payment, we wait a few days and send a third
expressive of inexpressibly sad profit and loss statements, with card stamped, heavily in red "third notice." Usually the
third card brings in a partial payment or a letter or a per-
the accent decidedly on "loss."
During 1930 we turned thumbs down on a good deal of sonal visit from the delinquent customer. If the three notices
business that in previous years we welcomed with generous fail we write a personal letter requesting the customer's pres-
and hospitable gestures. We played Santa Claus to the "joy- ence in our office specifying the date and informing the de-
riders" and their "how much down" brethren until our linquent that our store will be open until 9:00 P.M. for his
ledgers screamed and were bled white with the red ink that greater convenience. If the letter also fails, a call is made
poured out of Big Sales Volume. As a consequence our 1930 by our collector whose instructions are firmness clothed in
sales total is nothing to break into print about, but we are courtesy, a sort of "iron hand in a velvet glove" call. T l v
{Please turn to page 20)
collecting on the sales we made and keeping our customers
THE MUSIC TRADE REVIEW, August, 1931