Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1899-12-14
BILL 10 PROTECT BUSINESS MEN.
One VIII BE introduced Under the Au-
spices orthe Credit Man.

Des Moines, Dec. 14.-One OF the OBJ
iects of the visit to Iowa OF Vim. A.
Prendergast, secretary of the National
Association of Credit Men, who was in
Des Moines last week, is TO create senti-
ment in favor of a bill to be offered aS
the coming session of the legislature.
The bill is entitled, An act to regulate
the purchase, sale ard transfer of
stocks of goods. wares and merchandise
sinssbnlk. Under existing laws Il man
may sell out his business,ipu the mon
ey in his pocket and his creditors know
nothing of it.
Bills OF a similar nature are to be
presented to the legislatures OF other
states, where such laws do not already
exist. In Louisiana, Ohio, minnesota,
and Oregon there are similar laws to
This effect. The proposed new law for
Iowa is combination of the laws eN-
sting iii Minnesota and Oregon, which
conform to general conditions in the
west. The new Iowa law proposed
reads as follows:
Section l. 1t shall be the duty of ev-
cry person who shall bargain for or
purchase any stock OF goods, wares or
merchandise i'll bulk, for cash or on
credit, before paving or delivering TO
the vendor any part of the purchase
price therefor, or any promissory note
BROTHER evidence of Indebtedness there
for, to demand and receive from the
vendor thereof, and if the vendor be a
corporation, then from the managing
office or agent thereof, Il written state
mem under oath of the names and ad-
dresses of all the creditors OF said ven
dor, together with the amount of in
debtedness due or owing. or TO become
due or owing, by said vendor to each of
such creditors: and il shall be the duty
Of such vendor to furnish such state
meut.
Sec. .. Thereupon it shall be the
duty OF the purchaser. at least ten
days before the completion OF said pur-
chase. or the payment therefor, to no
[ tify personally or by registered mail,
each of said creditors OF the said pro-
posed sale, and of the price, terms and
conditions thereof.
Sec. ,. Whenever any person shall
purchase any stock OF goods, wares or
merchandise in bulk. and shall pay the
price. or any part thereof, or execute
or deliver 10 the vendor shereof. or to
his order. or to any person for his use,
any promissory note or other evidence
of indebtedness for such purchase price
or any part thereof, without having
first demanded and received from said
vendor the statement under oath, men-
TONED in section ] of this act, and
without first giving to each OF said
creditors the notice provided forin Sec
| ton 2 hereof. such sale or transfer
shall, rs to any and all creditors of the
vendor, be conclusively presumed to be
fraudulent.
Sec. 4, Any vendor of stock ol
goods. wares or merchandise in bulk
who shall knowingly'or willfully make
or deliver. or cause to be made or de-
| livered, ANY false statement. or any
statement of which any material por-
ton is false. or shall fail to include the
names of all of his creditors to any
such statement rs is required in see
ton OF this set, shall be deemed gull
ry Of purj'lrS, and upon conviction
thereof shall be punished according
| ly.
Sec. 5. Any sale or transfer Of a
stock of goods, wares or merchandise
on # tie mslal or " ,inarv course oi
business or trade of the vendor, OF
whenever thereby substantially the en-.
tire business or trade heretofore con
ductcd by the vendor shall be sold OF
conveyed, or attempted to be sold or
conveyed, to one or more persons. shall
ne deemed :, sale or transfer in bulk in
contemplation Of this act; provided
thar nothing contained in this act
shall apply to sales b. executors, al.
ministrators. receivers, or any public
officer under iudicial pr osess.
The state board of control has adopt.