r960 FORSYTH HARDWOOD CO

355 Bayshore Boulevard

San Francisco 24, California formation of such buyers, the cash discount is set up to compensate for prompt payment, PROVIDED the invoice is paid promptly according to the terms of that invoice. There are instances where a prior agreement may exist, whereby extended terms are given by the seller. However, such extended terms apply only to the specific purchase and sale.

The fact should be recognized by the buyers that their credit standing sufrers materially when arbitrary payments are made which are contrary to the invoice terms, Reports are made regularly to the recognized credit agencies, by the sellers, as to the methods of payment of each buyer, It would seem that a credit record would be worth keeping, as it refects the responsibility of a place of business.

If buyers take unearned discounts, it is then up to the seller to charge back such deduction and, if necessary, take legal steps to collect it.

There is no reason why a buyer can take his discount and make payment later than provided by the terms of the invoice, when other buyers pay promptly and legitimately earn the discount. The first type of buyer does not merit a "Prompt pay" credit rating, and the seller should immediately report such misuse of the cash discount provision of the terms,

The sooner that buyers learn that the seller has rights under his invoice terms, and the seller exercises those rights, then will the industry benifit and the term "Cash discount" return to its rightful place.

PEK/dy

PAUL E. KENT

Son Diego Hoo-Hoo Bqg Duke Snider

San Diego Hoo-Hoo Club 3 is over for a homer, December 11, when L. A. Dodger Centerfielder Duke Snider will talk to the lumbermen at the dinner meeting in the Grille Room of the Mission Valley Country Club (Stardust hotel). Price is only $4.75 a throw, cocktails start at 7:00, and the dinner menu is right over the plate. Offering a 5/o discount for tickets purchased beforehand were Committeemen Bill Seelev. Wes Thomas. Bill Evenson. Bill Pumfrev and Don Schrage. Prizes, too !