No this isn't a revelation of larcency on a grand scale--it's credit buying.
Instead of paying , these customers presented White Rose Charg-O-Plates which entitles them to be billed for all their purchases.
The type of credit offered by the oil industry allows a customer to "charge it" , but his account ,with certain exceptions , must be cleared every month.
Canadian Oil's Charg-o-Plate is as much a service to the motorsts as is cleaning his windshield. Instead of having to carry cash for the requirements of his car, he carries the Charg-O-Plate; then, once a month,his motoring expenses arrive in a neat bundle with just one bill to pay .
There is nothing new to this type of service to the motorist. Probably the earliest recognized form was the coupon book, with the coupons taking the form of currency that could be spent only at company service stations.
They made their appearance during the 20's.Canadian Oil's books were usually made up of coupons of different denominations to a total of $5 or $10 .They were accepted at Canadian Oil service stations instead of cash.
During the early 30's the first oil company credit cards were issued in Canada. Canadian Oil's cards,like those of most other companies,were issued on a quarterly basis.The system was so revolutionary in those days that companies were reluctant to extend credit to anyone for more than three months at a time.
This system, with modifications,remained in force until after the last war when the tremendous upsurge in buying made a review necessary.
With more cars on the road Canadian Oil found it had more credit customers than ever before. Because of the tremendous and ever- increasing volume, the company in 1949 started to re-issue its credit cards on an annual basis.
Canadian Oil took another big leap forward in1955 when it introduced its permanent Charg-O-Plate.The old cardboard credit card was replaced by a thin wallet-sized metal plate,stamped with the customer's name and account number,which was valid indefinately.
At one stroke the Charg-O-Plate made the annual issuance of cards unnecessary and reduced the invoice write-up time of Canadian Oil dealers by 80 per cent.
Under the new system , the dealer uses an imprinter to do most of the invoice preparation mechanically.With the Charg-O-Plate inserted , the imprinter records the customer's name,his account number and the name and address of the dealer and the date.This leaves only the purchases and the amount of the sale to be filled in by the dealer.
In 1956 the company started to replace the metal Charg-O-Plates with plastic plates of similar design.In1959 these plates were replaced by plastic plates of a new colour designand with a new numbering system.
A customer with a Charg-O-Plate tends to become a "regular" dealing at Canadian Oil service stations in preference to all others.He also tends to spend more than a cash customer.
From an accounting point of view , credit buying is a good control factor for firms like Canadian Oil.
All this means that credit generally can be summed up in two words---"Good business".
By arrangement with a group of leading American Oil Companies (whose combined operations cover the whole United States ) your company's credit cards are honoured not only in Canada , from the Rockies to the Atlantic , but also throughout the U.S.A.
The credit cards of these companies , in
return are honoured by us in Canada .Over the years these companies included;
Conoco, Pure , Hi-Speed , Tydol , Flying-A , Amoco ,
and Atlantic in the U.S. and
Home in British Columbia .
Later Shell Oil also accepted
White Rose credit
cards .
Canadian Oil credit cards are available through any White Rose Dealer or any office of the company.
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