Credits and Collections

tine, Johns-Manville. who noted that J-M instigates action when their accounts become even one day past due.

Dwight Castimore, Celotex, Los Angeles, suggested checking the financial statement of a firm before doing business with them to see how they pay others. Always check Day Sales Outstanding to check their cash flow, he suggested.

Fred Eib, Flintkote, called cash flow the name of the game and said that computer information allows more and better information than ever before.

Eib called the current pessimism of some industry people "overblown" and stressed that he was "realistically optimistic."

Byron Berg, a lawyer with a background in credit, touched on basic credit devices and procedures. Bill Braley, Building Material Dealers Credit Assn., related BMDCA's experiences and practices in credit reporting, job rights and collections. Fred Dultz, London Guarantee, told the group about various credit insurance possibilities and how best to use them.