Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-05-07
[NNUAL MEETING
| Of CREDIT MEN.
,cn Attend Session at CONNER
clal Club on Saturday
Evening.
ruf ELECTION OF OFFICERS.
-, ~ Former President, o. II.
,,cu shows satisfactory Con'
,uoo--. Parsons New President.

,,Ioo- Parsons New President.
.,. annual meeting OF the Utah Az
s,,ion of Credit Men held n wen
$3.50 annual meeting Saturday az
g.. I'm at the Commercial club, where
|Ae following officers were CHOSEN lot
ne ensuing year,
p,esident--Arthur Parsons.
40. President Sweet
s.c,etary---J. W. Delano.
s,as e,Ircr-A. u. McMullen
,.sistant Secretary and Manager
John Q critchlow. 80, . No..
'y Gsneral Attorneys Thomas d May
cock ,-, p..ao,aur, WI.
!. a scocroft p. l.. Doran, s. Weitz and
d N. smailes.
PRESIDENTS REPORT.
p,dring President o. Fl. Hewlett
made Inc following annual report:
"Sronforming with our usual custom,
, ON glsd to report our association for
Ne past year During the fiscal year
ardipg April 30. 1906, the Utah Associa-
tIoo Of Credit Men has handled 81 as
ernmcnts, an Increase over the last
var OF 10. OF this number 3S were In
i'tsh, 20 In Idaho, two in Wyoming and
,Ho in Nevada. The total liabilities
amounted 10 s236,99i29 on these claims
which have been assigned, the associa-
,on has paid ~ dividends, So Of which
were paid on assignment cases and
nine in bankruptcy cases. The divi-
Ssnds ON the assignments averaged IS
per cent and the dividends on the bank
luptcy cases IA per cent.
one reason for the small per cent
which has been realized on the bank
rnntcy claims is the heavy expenses at
tached 10 bankruptcy proceedings. A
COMPARISON of the percentage OF claims
raid will show great saving to cred
tors when the accounts are assigned
directly to the association.
"The total cash received from differ
ont sources was Sli1,67l,l1, and a com.
parlson Of these figures with those OF
NJ preceding year will show a nice In
Irease Of s39,3497O. The total amount
Expended for dividends. expenses, etc,
Vas sl32,54740 leaving u balance Of
,l5lgs.i7 on hand. In making this
statement and showing the increase in
Inc number Of claims handled and the
mount Of money received, ] would not
nave YOU infer that more assignments
lad been made during the past year
han during the preceding year. These
lgures simply indicate that our asso-
ation today Is handling nearly all the
asses which have to he handled by the
reditoTs Of merchants who are unable
o meet their obligations, whereas In
he past these cases have been largely
handled by the courts aud attorneys.
In addition to the Immense amount or
Pork involved In the handling Of 20
|rge number Of assignments, the as
Iociation has furnished on an average
~ trade reports per month, or about
5000 during the year; zoe 'rduiries ner
or about 5000 during
the year, have been attend
ID TO-. and during the past
three months 90 property statements
nave been sent out to merchants and
rs replies have been received up TO
he present time, with more coming in
very day.
YIN lDIN 1 II Niiph ~.
zone Of the most gratifying features
" the past year has been the conf
lence shown In orr association by
EASTERN people. Business men Of the
EAST have unhesitatingly turned over
,helr claims Ia us for adjustment, and
our adjustment bureau has been so
successful and so well conducted that
several Of the larger credit associations
N the United States have patterned
their adjustment bureaus after ours.
"One Of the highest compliments that
'ould be given any association was
laid US by the president OF the Nation
II Association of Credit Men when he
aid that our association had paid a
llgher percentage on the claims as
'lgned 10 Il than any other association
n n United States.
We have been invited to become
members of the National Association
nf Credit Men. and there would doubt
less be many advantages come TO us
by accepting this invitation and Join
ng the ranke OF the 10000 strong and
conservative business men who are at
present allied with that association.
Inc members Of practically every
credit mems association In the United
states except ours, are also members
d Tho national association, and Il
seems 10 me that II is our duty TO Join
mem an help them to better the cred
u conditions in the country generally.
ma TO secure proper legislation regu-
duhE those matters In which We are
most interested.
We are able at the present time,
"l'hout Increasing the membership
rec 10 give each member membership
U me national association as we'll as
me Utah Association Of Credit Men,
ana II we Join the national. / believe
We WIZ become stronger and In closer
yonlNe' with the business men OF the
,,spunlry. We VIII be supplied with
uer Monthly Bulletin and other
lIattcrs which they get out from time
% tiIne, and which are Of Importance
,uu interest to US. We should use our
llhuehce with the merchants with
nom We are transacting business, to
10y SUFFICIENT Insurance to protect
.neln 10 The event of loss By fire. In
seelshce viii not only benefit the mer-
,nsht himself but It viii also be OF
,a'ue TO the wholesaler. jobber and
wy manufacturer, from whom the
merchant obtains credit.
BAD FIRE. No INSURANCE.
a sad illustration of neplecting TO
Illend 10 this important matter oc-
uiled short time ago; a certain
!, Rant had carried policy for
-'pVo on this store ana stock. The
uI,oy expired on the 9TH of the month
ilI ne had intended TO renew II on the
,shth but on the seventh a Are oc.
uIIed which destroyed his property
no left him practically without any,
ING IN the world except his obliga-
'ons' IN order to commence business
sHltl he would have to secure "A new
and get fresh credit as we'll
meet his old accounts, and this he
as unable to do and so was left in
very tfying aud embarrassing posi-
he San Irancisco d,s.s,Ar ahA,,ta