Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-02-17
CREDIT-MEN TO ORGANIZE.
Branch of the National Association
10 lie Formed I'm Richmond.


A meeting OF the credit-men Of the city
will be held in the hall Of the Chamber
Of Commerce tomorrow afternoon at
o'clock for the purpose Of considering the
advisability of forming a local branch
OF the National Association OF Credit
Men.
The call for the meeting which will be
formally issued to-day. bears the sigma
lures of the following well-known firms:
Stokes & Simmons NJ. Afillhiser & Co,
u. A. Saunders & Sons The Standard Oil
Company. 4. w. Wood & Sons. $. w.
Travers. Smith-Courtney Company, Har-
rls Flippen & Co, HARRISON & Crump,
Davis q Atkins, Allison & Addison.
Etchison. Bates 81 Starke, II. a. VIII
liams, Old Dominion Iron and Nail
Works Company. Southern on Company,
L. c. Younger, The Merchants National
Bank, J. d. & r. S. Christian Company,
and Kingan & Co.
WHAT 1T HAS ACCOMPLISHED
These gentlemen in their circular say:
MANY credit-men of our city believe
that an organization composed of gentle
men identified with the extension of mer-
camille credits would be of inestimable
value and Importance to the interests
they represent. The matter has long
been made the subject Of more or less
discussion, and has resulted I'm the forma
ton of a very strong national organiza-
ton. as well as vigorous local associa
tons in Sioux City, New York, New Or
leans, St. Louis, Kansas City. Louisville,
Concinnati, Nashville Detroit, Minneapo-
lis, St Joseph. Portland (Ore), Denver,
Baltimore, Philadelphia, Pttsburg,
Rochester, Chicago, st. Paul. and Mil
waukee, as adjuncts Of the national body.
Already splendid results have been at
tanned, such as making IL a penal offence
I'm the State of Louisiana to give fraudu-
lent figures for me purpose of obtaining
credit. and whereby any one is defrauded;
also, making it a penal offence for parties
selling out stocks. in blocks, that have
not been paid for. and making ii en-
cumbent upon the purchaser to exact a
sworn statement from the seller that the
stock Of merchandise has been paid for,
or that he will take the proceeds of such
sale and prorate among his creditors. An
active and consistent campaign is now
being agitated against that monstrous in
Justice known as the 'deedof-trust law"
I'm the State Of Texas, and seeking TO
equaliZe and improve the laws pertaining
TO the rights Of debtor and creditor in
that Commonwealth"
HAS GROWN VERY RAPIDLY.
Mr.. +. r. Boocock. OF New York, sec
rotary OF the National Association, is at
the jefferson, ana will speak at to-mor-
rows meeting Speaking last night of his
work he said:
1.-THE first Credit-Men's Association
formed In this country upon the present
lines was organized one year ago last
September, In New York. This associa-
ton started out with sixty charter mem
bers. and now has a membership of
about two hundred and fifty OF the lead
ing commercial houses of the metropolis.
il has a Legislative Committee, consist
ing of seven Of the ablest credit-men In
New York. and through their endeayors
the association expects to accomplish
many needed reforms I'm our State Legis-
lature relative TO the relations between
debtor and creditor. Following New
York. New Orleans Sioux City, Kansas
CITY. St. Louis, and Cincinnati organ
lied their credit-men. In June OF this
wear. at a convention i'm Toledo, o., at
which representatives were present from
twenty-five States, the national organi-
zation was enthusiastically launched,
with w. II. Preston, Of Sioux city, presi-
dent: NJ. e Bannn, OF New York city
president; T. II. Green. of Sioux City
treasurer and r X. Booeock, OF New
York city, secretary.
''Since the Toledo convention over
twenty local associations have been or
aanized I'm as many commercial centres,
showing conclusiyely the necessity for
such organization, and the belief on the
mart of businessmen that great good
can be accomplished through such an
agency. Before the next convention
Trra 9th 10Th and 18th in Kansas City
there win be fully fifty local associa-
tons representing a membership of up
wards of five thousand commercial
houses. In my talk on Thursday | VIII
clearly indicate some OF the reforms that
can be accomplished by this association,
and the great advance that 1t can bring
about in the relations between debtor
and creditor. The extension OF credit Is
a scheme. but all time transactions should
be so protected by law as 10 prevent
fraud and injustice"