The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-05-06
CREDIT men At
FESTIVE BOARD
Conclude Annual MEETING With
Banquet at CONNER
CiaI Club.
NEW OFFICERS ELECTED
UTAH ASSOCIATION JOINS THE
NATIONAL ORGANIZATION.

After concluding a business session yes
terday afternoon. in which Arthur Par
sons was elected president, the members
of the Utah Association of Credit Men
relaxed at d banquet last night at the
Commercial club. The organization is now
affiliated with the national organization
and Will Immediately start the work of
getting its association down to a better
working basis
The subject of insurance was an i'm
portant question, and II was the sense
of the meeting that retail merchants
should be Influenced to carry sufficient
insurance to protect themselves against
loss by fire. Illustrations of neglect in
this connection were cited to show that
every retailer should realize that it is TO
his ADVANTAGE to carry much insur-
ance as possible
Wholesalers and Jobbers.
The Utah Association of Credit Men is
made up of the leading iObbers and
wholesalers Of the state The future OF
the state in a business way was dis
Cussed and the members of the organize
ton were a unit in the belief that Utah
is entering upon long period of busi-
ness prosperity. In his report the re
firing president o. IT. Hewlett, had the
following to say about trade conditions
for the last year He said
Report of President.
During the fiscal year ending April
80 1906. the Utah Association of Credit
Men has handled sixty-twO assignments.
an increase over the last year of thr-
teen. OF this number thTty-eight were
I'm Utah, twenty in Idaho, two in WyO-
ming and two in Nevada. The total la
bilities amounted To S236 g94 % on these
claims which have been assigned. the as
ISOLATION has paid ninety-two dividends,
eighty-thTee of which were paid as
siSnments averaged So per cent on the
dividends, and on the bankruptcy cases
"a per cent. One reason for the small
percentage which has been realized on
the bankruptcy claims is the heavy eX-
penses attached to the bankruptcy
proceedings A comparison Of the per
centage Of claims paid VIII show a great
saving to creditors when the accounts
are assigned directly to the association
The total cash received from different
sources was $14767117 and a comparison.
of these figures with those of the PIE
Ceding year will show nice increase Of
dividends. expenses. etc. was SIS. 547 40.
leaving a balance of s15123.77 on hand.
Number of Trade Reports.
In addition to the immense amount of
work involved in the handling Of so large
"A number of assignments. the association
has furnished on an average 275 trade re-
ports per month or about 5000 during
the wear: 200 Inquiries per month or
attended TO. and during the past three
months. 600 property statements have been
sent out to merchants and 375 replies have
been received up 20 the present time, and
more are coming in every day.
one OF the most gratifying features
of the past year has been the confidence
shown in our association by eastern peO-
pie. business men of the east have I'M
hesitiatinEly turned over their claims to
us for adjustment. and our adjustment
bureau has been so successful. and so
well conducted. that several of the larger
credit associations in the United States
have patterned their adjustment bureaus
after ours
"One of the highest compliments that
could be given any association was paid
us by the president Of the National As
sociation of Credit Men. when he said
that our association had paid a higher
percentage on the claims assigned to it.,