Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1911-11-17
Says Harold Remington at Dim
ner of Credit Mems
Association.
OSBORNE, BANKRUPTCY
EXPERT, WAS PRESENT
Eyes of Audience Are Directed
Toward Him as Speaker
Makes Plea.

ayln stress on the lact tndL INC
compensation Of court officers in bank
ruptey eases should be most carefully
and economically administered and
that extra conf ensation" is the
favorite method Of ioooing i%nsolvent
estates, Harold Remington, counsel for
the National Association of Credit Men
and author Of Remington Oh Bank
ruptey." received q great ovation at
the annual banquet Of The Newark AS
ISOLATION of Credit McD, held last night
in Kruger Auditorium. Nearly 800
members Of the association and their
friends were present, aud the affair
was n distinct success,
During the time in which Mr.. REM
ingfen was telling what the bank
ruptcy law means TO the business men
and how they. can make use of IT.
in9ny faces were turned toward the
box at the right Of the speaers' plat
form in which was seated Senator
Harry Y. Osborne. The speakers rap
at the extra compensation which
ruins estates was loudly applauded,
and the business men showed their ac-
cord with Mr.. Remington by cheering
mini TO END Oh MS speech,
Walter q. Freeman, advertising man
ager Of the New York Evening Mail.
commended the local merchants for the
tremendous following they have
through the credit and standing they
have established. He asserted that
some or the Newark stores rival any
in the country, and that the New York
stores have to look ont for their
laurels. The speaker also warned the
business mel of the fatality of adver-
Using white lies"
Edmund d. Fisher, deputy co;nptrol-
'er of New York. advocated the clear
ms inst.tut on as planned b. the Ma
tonal Citizens League. He also ex-
planned the present system under which
bank deposits accrue, j. Harry Tregoe.
the newly chosen seoretary-treasurer OF
the Rat onal Association Of Credit Men,
VAS introduced ana made a brief add
dress.
Mt. ,enaing On said In part;
"Anoihcr thing that We would insist
tuI OF in our erfect law would be that
the conpo ~nsation Of the officers of the
c1urt should be most carefully and
economically limited. with all extra
enrnpensaticns cut off. 1t is extra conf
I~ensatiani that is the f~avorite method
&c rnl3blng insoivept estates in State
courts. An Cd lawyer Of long expert
cree was ence testifying before me
several wears ago about the compensa-
ten Of an assignee for the benefit of
trediturs. Ho said frankly, THE statu-
tory compensation Of the assignee is
ii ssrall matter: he Gets his cal pay
ont of the extra compensation which
The court can grant him without limit
Oh It's discretion" Ever since the
ttmen5lfrent of 1910 to the bankruptcy
INV all the Officers of the bankruptcy
fourt have been placed upon the bust
nessliks tasis of commission on actual
cash ren.i"ed. AT rates carefully ad-
.iusted to the different services per-
Formed and IL the amounts involved.
ane having this additional priceless
\ rejection. the prohibition of all extra
compensation. Whatsoever. The con
eiudii & section, indeed, of the bank
ruptoy ,aw emphasizes the spirit and
inteiii Of that law towards ECONOMY
OF administration. for it reads neither
the referee. receiver nor trustee shall
receive. nor shall the court allow him
any further or different compensation
under any form on guise than hat OK
Dressly prescribed In this act
"And, finally, we would insist that this
perfect law of ours should provide for
notices to creditors, who ure the bone
ficiaries of the insolvent estate, SO that
they might know what is going on.
There Is peculiar necessity for creditors
to be kept informed of the progress Of
insolvency administrator Insolvency
litigation differs from other forms Of
litigation.
"Whst is e~VerNbody's business IL mo-
body's business; and SO II naa come TO