JBT Historical Milestones

1880s

1873
Jewelers’ Mercantile Agency, Ltd. began operations and published first credit reference book for the  jewelry industry; in New York City.

1874
New York Jewelers’ Association founded in New York City.
Chicago Jewelers Association organized. Transferred activities to Jewelers Association and Board of Trade in 1904.

1884
Manufacturing Jewelers Board of Trade established in Providence, Rhode Island merged with National Jewelers Board of Trade.
The Jewelers Safety Fund Society was organized.

1885
New York Jewelers Board of Trade organized in New York City by diamond importers and jewelry manufacturers. Merged with New York Jewelers Association.
The Jewelers Association of Cleveland was organized.

1890s

1896
New York Jewelers’ Board of Trade absorbed the Jewelers’ Mercantile Agency, Ltd., and assumed publication of its credit reference book.

1898
National Credit Men’s Association.

1899
The Jewelers Association and Board of Trade in New York City was established representing a merger between the NY Jewelers’ Association and the NY Jewelers’ Board of Trade.

1900s

1904
The credit reporting and collection departments of the Chicago Jewelers Association were taken over by The Jewelers Association and Board of Trade, as a Chicago-based branch office.

1910s

1911
The National Jewelers Board of Trade in New York City, the new name assumed by The Association and Board of Trade came into being. It opened branch offices in San Francisco (1912), Cincinnati (1913), and in Providence (1919).

1915
Offices of the Manufacturing Jewelers Board of Trade were moved from the Wilcox Building to the 4th floor of the Turks Head Building.

1918
Title of the weekly bulletin to members was changed to “Service Bulletin”.

1920s

1925
After long and careful consideration, it was decided that the National Board of Trade should follow the up-town movement of the jewelry industry and the offices were moved to 22 West 48th Street, New York City. The building at that address was named “The National Jewelers Board of Trade Building”.

1929
Buyers’ Service consisted of notification being given daily of buyers arriving at Providence hotels. In 1929, 379 and in 1930, 372 jewelry buyers had notice of their arrival forwarded to our interested members.

1930s

1933
The Jewelers Board of Trade, created by a merger between the Manufacturing Jewelers Board of Trade and the National Jewelers Board of Trade, was established, with its main offices in Providence.
 

1936
The “Fighting Fund” of the National Jewelers Board of Trade was transferred to the Manufacturing Jewelers Board of Trade in July, 1936.
 

1937
60% of claims paid in Free Demand. Total $491,293.68 placed.

1940s

1940
A few memberships have been discontinued, by reason of the invasion of Holland and Belgium in World War II.

1941
Continuous Service established.

1945
Discontinued listing of Optometrists in the Reference Book.

1946
A surprise luncheon was given at the Waldorf Astoria Hotel, in NYC, to honor Mr. James McDermott, Asst. Secretary, who served JBT for 50 years. At that time, Mr. Louis A. Kimball was recognized for his 55 years of faithful service in the New York office.

1950s

1955
64.7% of claims submitted was collected in Free Demand. An operating loss sustained by the Collection Department was directly attributable to this large percentage collected with no charge to the members.
New Names Bulletin created and published weekly.

1957
“Time-Saving Stickers” created for members to place on past due statements. This sticker, requests JBT to make demand on the member’s delinquent customer.

1958
JCK publishes an article “How The Jewelers Board of Trade Helps You”.

1960s

1960
Installation of Western Union Direct Wire Service between the New York and Providence Offices.

1961
18 Creditors’ Committees formed by JBT to settle the financial difficulties of jewelry debtors in temporary financial trouble. Total liability involved and handled by JBT Adjustment Department totaled $2.5 million.
Credit Interchange system created for the Metal Findings Manufacturers Association.
Research Department handled 1,600 inquiries.

1962
13 Creditor’s Committees handling $3.6 million.

1964
JBT attends the first World Federation Diamond Congress in New York City.

1966
Moved from the Turks Head Building in Providence, where the Board was located for the past 55 years, to the Danecraft Building at 24 Baker Street, Providence.

1968
Introduced Accelerated Collection Service enabling members, when an account become past due, to mail immediately a “Free Demand Notices” directly to delinquent customers.

1970s

1971
The Red Book now published by a computer from magnetic recording tape. A Telex network between NY,
Chicago and Providence, and an indexed master filing system was established in Providence.

1972
Mailing labels now available based upon information in Red Book.

1973
JBT forms an Industry Committee of Credit Information Exchange created to study feasibility of electronic interchange of trade data.
JBT sponsors 4 Creditors’ Committees, $2.2 million.

1975
23 jewelry companies with $10 million in debt file for bankruptcy.

1976
The new Electronic Credit Interchange Program is launched as a valuable source of credit data. Five contributors and about 12,000 items of information are submitted each month.

1979
Data automation project including establishment of data files and screen entry programs to provide faster, more accurate service to JBT members.
JBT welcomed its 2,000th member.
Adjustment Department – 3.5 million.

1980s

1980
Adjustment Department, $8,989,006.

1981
Credit reports generated by new HP3000 computer system.

1982
445 new members – highest annual total in JBT history.
First BOD meeting outside of RI (NYC).

1984
JBT began publishing Jewelry Industry Vital Statistics and Trends Data. New businesses, total businesses by classification, rating changes, claims placed and failures.

1985
Branch offices opened in Dallas, Texas and Miami, Florida. Added phone numbers in Red Book.

1988
Installed first fax machine in Providence.

1989
JBT Credit Hot Line launched “Talking Red Book” with over 10,000 inquiries received.

1990s

1991
Dallas and Miami offices closed.

1992
New computer system installed.

1997
JBT relocates headquarters to Warwick, RI building.

1998
CD Rom edition of Red Book is published.

1999
Closed Chicago office.
JBT Website was established. New Claims & Bankruptcy Report created.

2000s

2003
JBT begins migration to new IT platform including new collections software and relational database. Members now monitor collection claim status on line.

2004
JBT celebrates its 120th year. JBT completes major migration to new IT Platform and rolls out new credit report format.

2006
Enhancements to Rating System allowing for standalone Payment Scores and applying Other Condition codes where capital ratings cannot be assigned. Rebrand/logo of to reflect more advanced services.

2007
International membership initiatives launched including Mumbai/Hong Kong outlets.
Monthly industry overview report rolled out in Weekly Alert.

2008
Website redesigned and upgraded including launch of two new services: Credit Watch and Advanced Search.

2010s

2010
CreditShare online platform launched for members to report memo, returns merchandise and other credit related information.
Closed New York office after 75 years.

2012
JBT Launches a Mobile App for Red Books.
Claim status accessible via members’ only website

2014
JBT launches ‘Rating Watch’ credit report monitoring for retailers.

2016
USB version of the Red Book published.
JBT offers Prime Marketing lists utilizing US Census Data.

2017
Introduced membership category for Retailers.

2019
Credit Reports redesigned showing payment pattern and performance charts highlighting trends in trade payments.

2020s

2020
Pre COVID-19 credit rating captured to reflect post and future conditions.