The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-11-06
STABILITY OF TRADE
CREDIT MEN OF THE COUNTRY
SEEK TO INSURE GREATER
SAFETY
Mr.. BoococK'S ABLE PAPER

Mr.. Bo0CocK'S ABLE PAPER
Valuable Addition to- the Literatura
on the Subject Was Read Mt the
Meeting of Credit Men at the
Minnesota Club Friday Night
Hints for Both Jobbers and Re-
tailers.
The speech, which F.. r. Rooeock
secretary of the National Association OF
Credit Men, delivered before the ST.
Paul Credit Mems association at the
Minnesota club Friday evening. has at
tracted much attention in this CITY and
is eyerywhere commended as an able
contribution to the subject Of CREDITS
and bankruptcies. Mr[Boocock's sug
gestions are valuable, for they strike at
the root of many business evils and
show how failures may in MANY cases
be prevented. That portion of his adj
dress relating to bankrupt sales and
the need of bankrupt stock clearing
houses as means of protection of SOL
vent concerns from disastrous com
PSSAlAOll especially IILu0lY. His pro-
test against the appointment Of LAWYERS
and others not qualified to conduct
business concerns as administrators
and trustees is also commended as am
admirable idea. For the benefit oP
those who had not an opportunity to
hear Mr.. Boocock's speech 1t is repro
duced in The G l o b 9 today in Its en-
tirety.
Mr.. Boocock yesterday explained tn
q TpYOJstd1~ Tho q Ia h
about the National Association Of
Credit Men. The president of the as
ISOLATION Is James G.. Cannon. vice
president of the Fourth National bank.
New York, and the offices of the associ-
alton are at 20 Nassau street.
BAD METHODS ATTACKED.
"The National Association of Credit
Men," said Mr.. Boocock, SIS in a. very
fioGrishing and substantial condition.
We have twenty-onealocal associations.
In as many different tt ade centers. with
a membership of about q 500 of the lead
ing business houses of the United
States. These local associations hold
regular meetings, at which are discuss-
cd topics Of vital import to business
conditions. In this way a fraternity
and cooperation has been es tablisk-
ed which has led to much aggressive
action in behalf Of commercial inter
ests. Abuses are attacked with con-
centrated energy, and new systems
and customs in trade discussed for the
welfare of all. -
One of the most gratifying features
OF the work of these associations has
been the unselffshnessi of their exer-
tlonS. Nothing has been suggested or
performed in the interest Of one class
over another, but the rights and best
interests of the retail merchant have
been respected and studied as much as
those OF the wholesaler. In fact, the
success of the retail dealer has been
clearly recognized as essential to the
prosperity Of the wholesaler. If any
custom practised by retail merchants
has been attacked, it has been because
the practice was illogical, unreason-
able, and detrimental to the best inter
ests OF the general community. Only
just recently have we established a.
new department, to be known as the
business methods and bookkeeping de-
partment, and primarily for the pur-
pose OF perfecting and suggesting to
retail merchants an ideal system Of
businesses management, and especially
of bookkeeping"
WHY MERCHANTS FAIL.
TO what do you attribute so MANY
To the lack of constant detailed
knowledge of the merchants affairs
arising from faulty and imperfect book.
Keeping, said Mr.. Boocock. Those
merchants who are thoroughly medern-
lzec know at the conclusion Of each dav
or each weeks business their exact con-
oitlon, and are thus able to remedy
any rault that may appear, check anv
generalization that has a tendency to
matertalfze, and thus meet every CON
dltion as 1t arises with pronnptness a nd
ao!ilty. Today many merchant he
gu1les himself with false homes ,,nti1
the annual inventory discloses a. con
dit1on that results In failure and which
would never have occurred with proper
business methods"
PRACTICAL. WORK.
How does the National Association
on Credit Men help the merchant ."
The endeayor of our association ,s
70 eliminate commercial failures &c 20 ~
as possible by judicious and considarot -
actions. This can be done IN MN, o,.o,,s
ways all of which we are nre otisi,, -
py surrounding trade fnterco,,rse W.; e,
yu5t allu elflcacious laws protecting the
oIiorapie merchant by making fraud
eNIeeulHeiy dangerous; cby helpinp os-
ISSUANCE IN times of business torniiuG1e.
NY the encouragement of the MOST MOI
EN- ana profitable systems of business
a. ertia IN various ways magnifying the
oonda oi honesty, and regularity, and
sT.is aat,s maud and carelessness
traot;ve 1911 s9 must result in more at
esactiye stores, a higher class Of Nor
edlants' more pleasant trade reIa +ions
eliu sledler perfection in the art and
pracice or business. The er+ira 49,
InuSs oi tne association are devoted
70 70 the fuIhllment of these andea,,ors
In Inc management is most economical
ot,t re, oelng out one paid official. thet
- .tie eecre Gary, whose time and energy
~, e'ilt iy devoted to the work of
s Siie associatlon- The activities are daiIv
becoming more PRACTICAL and inono,. sIe, ~
ana IN the Judgment of large n11obars
VI BUSINESS mem the association is re~
saIuea as an extremely valuable ad-
'unct 10 trade and commerce.
MIR. BooCoCRs SPEECH
The full text of Mr.. Roococ,,s snooo,.
is as follows: ee-i
90 A a. me al me outset emphasize the no,io,,
OF 1ne association with snch nTo. nc policy
~ 20 Cane tnere may be no misunderstendj-, -
from ~ f tba maotlVes of management We bave
; .e nfst deprecated any idea that fbis
organization might eyentuaIIy a,,o1 sn .. Inls
associatl9n guided and directed In tbe intere S
VI une class over another, or sustained and
might be for t az tne financial returns there
ar9 n1 ps LOT me investment and labor We
are purely and l anticipate always will ha
nutuai cosmopolitan and ohiJanthr ~
Yaini. S'. az IN the interest OF everything ner
.ailtlng TO improved credit princinles p 20
practlces We have never vet ina,,eys, uo anu
Is innovation Or suggested any svstsn,
V WaiHs one wholesaler would gain any ad
senampioned any law giving to one c1as 5,es &c,
49, oslI4 or preference, but in all orr