The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-12-17
ABOUT BANKRUPTCY SHARKS
Nh. WISE WISHES III COZ In
CONVICT sOuE LAWYERS

vino HUNT Up CFedifsrs and 1ndnee Them
"a Hiring Bankruptcy Proceedings
by Prsmisans Not Only Preference
but . snare 90 the Legal Fees
The national bankruptcy act. its defects
and the c,ilpabihty Of lawyer and mer-
chant alike in it's abuses. were the topics
OF United States Attorney Henry A. Wise
Of this district and Assistant United states
Attorney John c. Swartley Of Philadelphia
in addresses last night at special dinner
Given at Delmonico's by the New York
Credit Mems Association Mr.. Wise told
the Ave hundred diners that the credit
men were in a measure to blame for some
Of those abuses by reason OF what often
amounts to giving Of indiscriminate
credit.
You can do much. he said. ito stop
what NAV be regarded as the perversion
Of the term credit by those merchants
who induce the public by newspaper ad-
vsrtising and the use Of signboards larger
than the tables at which you are sitting
on the highways and byways 10 buy OF
them on credit Most OF the people thus
induced to buy are fifteen dollar week
working people who have no right to credit
and who will eventually spend their
money in amusemenrs and worse IL such
in extended to them. These people often
end up by robbing their employers till
and then they come to me and 10 Whit
man.
Mr. Wise said that more than half OF
the bankruptcy cases in the Federal
courts here are saturated with fraud and
come from fraud perpetrated both by
the merchant and the legal profession.
He thinks II far more creditable TO extend
a helping hand 10 the merchant in financial
embarrassment than to De petition
in bankruptcy against him.
Il am ashamed to say that there are
lawyers who have no regard for the
ethics Of their profession. There are
them 70 fiie bankruptcy petitions. prom
lsing not only preferences but also part
of the legal fees. ! cant convict these
men because they know the game too well
and are too smart. j would rather con.
vic, one Of these lawyers than a thousand
81 the creditors. ~ho are nothing more
nor less than perjurers. but the difficulty
il that the only means of prosecution
il the testimony of self-confessed per
jurers NV ONCE has succeeded in con-
viCfinR eighteen cases out OF a total OF
twenty prosecutions for violation Of the
M Wise attributes much of the unrest
about the high COST Of living 20 the poor
people who get indiscriminate credit
from the small merchant The mer
chant who can give this credit. he said
must sell his merchandise at a price 20
cover the losses entailed by bad debts
SO that the industrious. hardworking per-
son who pays IA he goes along must bear
the burden PVT upon him by the weakness
Of others.
Mr.. Swartley advocated amendments
TO the bankruptcy act. which he says
is largely for the benefit Of the debtor
and very little for that of the creditor
The law should he amended. he said so
that II would be a crime TO mlsrepresent
the condition OF assets and perjury 70
misstate the reasons for going into bank
ruptcy.
Other speakers were District Attorney
Whitman. DR. ST. Clair Hester. rector Of
the Church OF the Messiah. Brooklyn. and
Rugo kanzler, who SAID that all honest
merchants warmed up 20 prosecutors
because they aided in purging the mer-
camille field Of the dishonest