The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-11-24
, SIXTH AND
ROBERT.

and no fake advertising such as your letter
properly condemns.
On the other hand, the institutions which
we represent are very largely aided, directly
and indirectly, by the advertising that is
done by them and their customers, and to
reflect upon this method of pushing busl-
ness, which they themselves employ, wouid,
in their judgment, be to invite the PUBIC
to a suspicion of their own insincer1ty and
dishonesty, and to threaten most serious
Decentralization of their trade.
For these various reasons-because the
evil referred to is practically unknown III
our territory; because where 1t exists it can
best be dealt with, in our judgment, in other
ways; because our association wishes to con-
slider matters germane and helpful to its
growth: because we regard advertising and
the press as the most powerful agents IN
the development of legitimate business, and
would no more think Of rejecting upon them
than we would upon the banking system
of the country, because there are snarpers
and pilferers in brokers' offices and banks
of doubtful reputation, and because we be-
lieve that the increase and success or our
association are dependent upon the wisdom
with which it selects subjects or present
practical value and crystallizes opinion upon
Them we have decided that it would be i'm
practicable and detrimental to the interests
that we represent to take up for consideration
the resolutions appended with your letter.
Trusting that the views which we have
expressed here will meet your commenda-
ton upon reflection, l am most respectfully
yours, T. L. Schurlneler'
At the conclusion of the spread,
which is a feature of the meetings. the
members lighted their cigars and 2"G-
pared to hear the talk on Failures.
President Schurmeier, in presenting
Mr. Mum, added that that gentleman
was to speak on a subject of much
interest to the credit men, and one
icb ho1 V-iialu aVnlOjtaG in
those papers which had interested
themselves in the organization.
The speaker began with the state
ment that failure in business was
but a commercial declaration Of the
fallibility of man, a fallibility which
has been condition recognized since
the dawn of human intelligence. 1t
was only during the past few years,
however he said, that the results nee
essarily flowing therefrom have heen
dealt with in an equitable and practi
cal manner. The business man was
a mariner who attempts to navigate
the uncertain and pilotless CONNER
cial sea. He is surrounded by and
has to deal with men as to whose mo-
tives and rules of conduct he knows
but little, and that from their daily
life. There were men great and small,
honest and INSCRIPTIONS, successful
and unsuccessful, and it was a hard
strife amid ever changing conditions,
commercial social, climatic. The strug-
gle was made harder owing to the
lack of harmony in the laws of the
various states governing commercial
matters. His woes were further added
to by the necessarily unreliable and
often incorrect information furnished
regarding men with whom he might
wish to do business. Speaking
of failures, he classed them as honest
and dishonest affairs, and enlarged on
the details of the bankruptcy laws and
their bearing ,on the relations of the
debtor and creditor. Incidentally, be
declared the preferential assignment
was wholly pernicious, demo catizing
alike to both creditor and debtor. in
suggesting means of obtaining relief,
MIR. Mum urged that there were one
or two ways of bringing about the best
results, the hearty, thorough Coop
GRAFTON of similar societies. and more
complete harmony in the method OF
conducting bankruptcy proceedings
The preference must be abolished at
all hazards. In doing what they could
TO this end, the speaker said the credit
men would meet the objections and op-
position of that class of men who
sought to array creditors against debt
ofS and vice versa, when as a matter
OF fact the line of separation was in
distinct and Variable-so much so in
truth that in many cases a business
man was both debtor and creditor aft
the same time. A national bankruptcy
law might be of temporary, but he
hardly thought of permanent advan
tage. Going from the civil to the Grim
1nal phase of the matter Mr. Mum
said the credit men might do we'll to
turn their attention in this direction.
He made strong plea for no Winking
at compromise, but an absolute fight
against the man who dishonesty got
possession of merchandise, and re-
course to the civil side to obtain nos
session of it again. Dishonest debt
ors he characterized as eXcrescences on
the commercial world who were worse
in fact than the footpad, who could be
attacked in self-defense. Mr.. Mum
then went into the legal status of the
matter, and explained at some length
and with much clearness just what
constitutes misrepresentation, and adj
vised what mode Of procedure had best
be adopted. He spoke for forty-fiye
minutes and was listened to with the
closest attention.
Mr.. Grover spoke briefly along the
same line, and during his remarks paid
his respects to the business men. who
he said were the stones along which
the lines of the commercial industry of
Tic -ooiiuuuAlIy were StdKeQ out. His
speech was replete with witty sallies,
and after relating the struggle be-
tween the Monitor and Merrimac dur
ing the civil war, and the circumstan-
ces which led to the construction of
the little Yankee "cheesebox," he said
it was the enterprise of the business
man which furnished the funds to build
and equip the little vessel which had
saved the whole navy. In conclusion
he said in time of peril it was the bust,
ness men who furnished that without
which war could not be carried on,
laws enforced or the dignity of the
state maintained.