Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-10-12
CREDIT MEN URGE
COMBINE To STOP
BANKRUPTCY EVIL


at each step asking business men
to cooperate;
And be it further resolved, That
1t is the sense of the association
that whatever abuses or mistaken
methods may have crept into bank
ruptcy practise in u community,
and whatever failure may have oc-
Cured in the carrying out of the
purposes of the bankruptcy law must
have been due, in some part at least.
to the neglect of the business men
themselves to perform their duties
toward the law and to avail them
selves of the privileges and invita-
lions freely extended to them by the
law.
Now, therefore, be it further re-
solved, That this association sets
itself anew to the task of aiding,
in whatever ways may be found
most appropriate, to the correction
of any and all improper or mis-
taken practises or abuses that may
have crept into bankruptcy prac-
tise in our midst; of taking, also. a
more active and personal interest
n the practical operation of the
law, so that its provisions may no
longer be disoheyed; of supervising
more carefully the work of agents
entrusted with adjustment work,
and whilst approaching faithful
work done, yet of REFRESHING and
m~oderating too great zeal therein;
to all which ends the association,
as a body. pledges itself and its
members, as individuals, pledge
themselves.
Be if further resolved, That as
one of the ways in which a greater
cooperation between the bank
ruptcy courts and the business men
of the community can be brought
about we recommend to the ref
erees in bankruptcy and to the dis
trict judges of our community h
following method of selecting re-
ceivers, or some similar method, to
wit:
That creditors, as many of them
as can reasonably be reached by
telephone or otherwise, within
seasonable time, be notified of hear
ings on applications for appoint
ment of receivers to the end h a
the advice of the businessmen
themselves, who are also creditors,
may be had as to the necessity for
any re~ceivership at all, and as to
the most suitable person for APP
pointment, it being particularly the
spirit of such suggestion that the
court choose businessmen for re-
ceivers when assets are to be sold,
stores to be operated or factories
to be run; and that such business
men be qualified in the particular
trade concerned in the failure; and
that such appointees be not pledged
directly nor indirectly to employ
any attorney or set of attorneys,
but that their choice thereof, If
any attorney be necessary, be left
strictly unbiased;
Be it further resolved, That we
do also recommend the adoption of
a rule requiring all appraisers to be
business men qualified in some n
or more of the special branches in
volved in the failure;
Be 1t finally resolved. That 1t Is
the sense of this association that an
earnest effort on the part of the
bankruptcy judiciary to have the
cooperation of business men and
creditors in the manner aforesaid,
as well as in other respects, will
make bankruptcy law fulfill its
truly great function in our midst
and bring upon 1t the blessing of
our people and upon the judiciary
themselves the affection and good
will of all fair men.