The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-06-11
Resolutions Adopted Urge Legisla'
ton Against Dishonest
Business Methods.
OFFICERS ARE NOMINATED.
Second Days Session of the Ma
tional Association of Credit
Men Ends With a Moon
light River Trip.

A resolution favoting the punishment
law as protection to retail merchants was
passed yesterday at the session of the Ma
tional Credit Mems Association.
Another resolution instructed the Legisla-
tive Committee of the association to in
quire into the exemption laws of the differ
ent States and determine which statute best
ser,ies the interests of the business men.
TIE meeting was called to order by Presi-
dent Tregoe, who introduced former Presi-
dent John Field of Philadelphia.
Failures and Their Causes" was the title
Of an address delivered by F. w. Yale Of
ST. Joseph, Mo. The speaker reviewed the
subject from different standpoints and indi-
Gated the rocks upon which many enter
prises are wrecked. He said in part:
Lack Of capital. or trying TO do too much bus-
ness for the capital invested. is responsible for
more failures than any other cause. 1t fur
nishes 80 per cent of the number falling. and Is
per cent of the liabilities. 1t Is not an unoom-
mon error to expect too much Of capital. whiic
1t certainly occupies the most important posi-
ton in business. there must be intellect te-
hind 1t to give it power. and energy TO shove
1t along: for it will respond only in exact ratio
to the degree of intelligence and amount OF en-
out these necessary adjuncts capital lacks power.
ans like the buried talent. neither gains nor
plus a great deal of applied ability has been
i % tnte ter ses. BUT The
daily sacrifices. the steady ploddine the resolute
men are too prosaic for emulation by those whose
ambition ousfoots their good Judgment.
TRDGoE FOR PRESIDENT.
President ]. Harry Tregoe was renom-
mated for president without opposition. For
vice president, Richard Hanlon of the
Richard Hanlon Millinery Company was the
officers will take place to-day.
A speech by former Governor Thomas T.
Crittenden OF Kansas City was enthusi.
astically received. Governor Crittenden
spoke In a humorous manner.
An open parliament on matters referred
to the Legislative Committee of the organ.
resolutions. The subject of the enactment
Of laws to protect the merchant against the
sale of goods In bulk was one of the mat
tiers considered.
Already sixteen States have provided pro-
lection against such frauds. and the asso-
citation, in a resolution. directed its COM
by the Legislatures Of States that have not
such statute on their books.
A resolution recommending the enactment
of Federal law which will make the send
ing. of false credit statements through the
mail a punishable offense, was also passed
Another resolution was passed approving
II Lodge Bill" Which failed of passage in the
last Congress. and urging its reintroduction
The social features Of the day consisted In
a visit for the ladies of the party to the
was served. In the afternoon the gentlemen
of the party were taken to the Worlds
Fair site.
the party down the river. where the flood
conditions were viewed by moonlight.
An address, Modern System and the
Credit Department" by NJ. Martin Kallman
of Detroit and a discussion of the subject
will be the principle feature Of the session
to-day.