The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-02-22
BUREAU OF CREDITS.
Committee or Five Appointed 10 Re.
port an Organization.

pert an organization.
Yesterday evening at O'Clock number
OF merchants and businessmen assembled
at the Commercial Clubs rooms in re-
sponse to the circular-letter Of f.. A. Cat.
lin, chairman OF the Trade Committee.
'fhe meeting was presided over by MFR. G..
Il. Wingo, and Mr.. Ashton Starke acted as
secretary.
Mr.. Catln explained the object OF the
meeting. He then offered the report OF the
committee appointed by the Board of Man
ayers OF the Club at their last meeting,
which report, after having been discussed
by Messrs. Isaac Tower, Ed. Christian,
Claiborne Watkins, A. s. Lee. Thomas
Christian, w. J. johnson, and others, was
received, as follows:
RICHMOND, Va, February 81, 1884.
Commercial Glib, Richmond, Va.:
Gentlemen,-Th committee which was
appointed by you to inquire into the prac-
ticabillty Of establishing Bureau Of
Credits in connection with your associa-
ton, beg leave to submit the following re-
port. They have been in correspondence
with similar institutions In New York,
Boston and Philadelphia, and have gained
general idea OF the system employed, and
have explained the same to many Of your
members as well as to other merchants.
IL seems TO be the unanimous opinion OF
these gentlemen that such an Exchange
would be invaluable. Your committee
have ascertained that It will cost about
$4,000 per annum, and from the express
sions heard on all sides, believe that such
an amount can be raised within ten days,
II suitable committees are appointed to
wait on the trade at large.
They are also OF the opinion that many
subscribers can be obtained In Norfolk,
Petersburg, Lynchbug, and Baltimore.
But, to make the institution more effective,
similar one should be organized in the
latter city, where special reports could be
exchanged. The information thereby
gained would be as complete as it is posi-.
bic to have it, the two markets being SO
closely identified. Your committee would
therefore recommend that committee be
appointed TO correspond with the Mer-
chants and Manufacturers Association, OF
Baltimore, and inform them Of the proposed
organization OF Bureau here, and request
them to organize similar one there for the
mutual benefit Of the two cities.
In the interest OF fairness, it is thought
that firms whose sales amount to less than
100000 should be charged S35; those
whose sales amount TO more than 5000, ,00O
and less than 100000, S4S: and those
whose sales are more than 100000, 900
per annum. This, however, can be ar
ranged by the Governing Committee, ac-
cordng to the number OF subscribers.
There should be q surplus. however, that
the institution, as il grows, may be made
more effective, for it may be necessary at
times to send canvasser to make personal
investigations when the interest OF the
trade demands it.
Your committee have herewith such
printed forms as are usually used, and
also the bylaws OF several associations
which give very clear insight into the
details, and which will be read il it Is your
wish. As they have perhaps made them
selves better acquainted with the system
than have those gentlemen who have not
had the subject before them, they would
be glad II any gentleman present would
ask them any questions that may suggest
themselves.
In conclusion, they recommend thai
steps be Immediately taken for the organi-
zation OF a bureau. Respectfully,
+. A. CATLIN,
GEORGE ID. THAxTON,
EDGAR ID. TAYLOR,
Committee.
The following resolution was offered by
Mr.. Watkins:
Resolved. That we deem it advisable and
expedient to organize and establish for our
mutual benefit and protection bureau OF
credits, to be known as the Merchants and
Manufacturers Bureau OF Credits OF the
City OF Richmond.
2. That the organization and manage
ment be under the supervision and control
OF the officers OF the Commercial Club, and
that committee OF seven be appointed TO
solicit subscribers TO said bureau.
These resolutions, after having been dis
cussed by several gentlemen, were with
drawn.
Mr.. Catlin moved that a committee OF
five be appointed on organization, to con-
sist OF two members OF the Commercial
Club and three merchants, aud to report at
a called meeting Of the chairman. Adopt
ed.
The following gentlemen were appoint
ed: Messrs. f.. A. Catlin and Claiborne
Watkins on the part OF the Club. and
Messrs. A. $. Lee, NJ. Rosenbaum, and
Major W. j. johnson OH the part OF the
merchants.
The meeting adjourned subject to the
call OF the chairman.