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Show Springville Gains Two Businesses In 4 Years, ReporisCredst Concern Each January busing concerns in au parts of the Un t reCeTJlf7eU annual financial requests for their a num. Utah County businessmen. There are 4 more business concern con-cern Utah County today than there wei"? four years ago, says D E. Smith, district manager of the Salt Lake City office jf m and' Bradstreet. Basing his farts upon the fi JTook January, 3956 Reference " Smith points out that in 1953, 1,200 businesses were listed Dy Dun and Bradstreet, today there are 1,247 enterprises a 4 pei cent increase. The Reference Book, incidentally incident-ally lists only manufacturers, wholesalers, retailers, and some service companies, such as laundries laun-dries and gasoline service stations Using the Dun and Bradstreet Reference Book listings as a guide, it is interesting to review what has happened in the eight principal Utah County communities communi-ties during tha past four years, the 1956 listing being followed by that of 1953 and the percent of increase or decrease in each city: American Fork, 120, 114, 5.3 in- I crease; Lehi, 58, 65, 10.8 decrease; v Orem, 133, 115, 15.7 increase; Pay- f son 77, 77; Pleasant Grove, 59, 56, I 5 4 increase; Provo, 492, 492; no increase or decrease; Spanish Fork, 133, 113, 17.7 increase; and Springville 141, 139, 1.4 increase. In discussing these figures, Mr. Smith pointed out that more than 95 per cent of all commercial transactions in the United States are made on credit terms. The purpose of credit reports and the huge Reference Book is to assist businessmen in arriving at credit decisions on customers' orders. A supplier anywhere in the U. S. can look up the rating of the Utah County businessman in the Reference Book. In this way, the local concern is known far afield and order3 can be approved and shipped promptly. The credit rating is one of the key factors in approving orders to ship or sell. The rating consists of two symbols. The first, a letter let-ter of the alphabet, indicates financial fin-ancial strength or tangible net worth of the business. The second symbol, a numeral, reflects a composite com-posite appraisal of the background, back-ground, operations, financial stability, sta-bility, and payment record. Each Reference Book listing (which includes the rating), is a condensed summary of the information infor-mation contained in the Dun and Bradstreet credit report. The report re-port includes a history of the business bus-iness (who owns it, who runs it, arid how long it has been operating), operat-ing), a description of what the I business does and how it operates, a financial section (which usually includes the latest financial statement, state-ment, and a record of how the concern pays its bills. Credit reports are also used by insurance underwriters to review risks, rates, and coverage for fire and other types of insurance. |